G-1, I-1 - Resolution 2025-032 - PH and Approval of Development Agreement for Park 3 - Boardwalk

Thence Southeasterly 177.01 feet, along said East Line on a 292.50 foot radius curve, concave Northeasterly, whose 174.32 foot chord bears S18°41'35"E; Thence S53°58'13"W, along said East Line, 182.50 feet; Thence S07°49'07"W, along said East Line, 175.39 feet, to the Southeast Corner thereof; Thence N82°10'53"W, along the South Line of said Auditor's Parcel 2019059, a distance of 236.49 feet; Thence N61°54'09"W, along said South Line, 18.04 feet, to the POINT OF BEGINNING. Said Tract of Land contains 3.95 Acres, and is subject to easements and restrictions of record. Section 5. The City hereby pledges to the payment of the Agreement the Park 3, LLC Subfund and the taxes referred to in Subsection 2 of Section 403.19 of the Code of Iowa to be paid into such Subfund, provided, however, that no payment will be made under the Agreement unless and until monies from the Park 3, LLC Subfund are appropriated for such purpose by the City Council. Section 6. After its adoption, a copy of this resolution shall be filed in the office of the County Auditor of Johnson County to evidence the continuing pledging of the Park 3, LLC Subfund and the portion of taxes to be paid into such Subfund and, pursuant to the direction of Section 403.19 of the Code of Iowa, the County Auditor shall allocate the taxes in accordance therewith and in accordance with the tax allocation ordinance referred to in the preamble hereof. Section 7. All resolutions or parts thereof in conflict herewith are hereby repealed. Passed and approved April 1, 2025. __________________________________________ Mayor Attest: __________________________________________ City Clerk