Friday, March 19, 2021

The City of Waterloo entered into an acquisition contract with the owner of a 1.3-acre wooded lot located at the southern end of Fairfield Street. The undeveloped land, when combined with an adjoining parcel owned by the City, will allow for the development of a 5-lot residential subdivision. EPA Brownfields Program funds facilitated the transaction by offsetting the costs of completing a Phase I Environmental Site Assessment prior to the City taking title. Officials estimate the homes, once constructed, will represent approximately $650,000 in new taxable value for the community.