New agreements with city, day care centers approved
‘This put a lot of minds at ease’
The City Council approved new arrangements with two Webster City day care facilities Tuesday night.
Webster City Day Care Center, located at 1315 Beach Street, is purchasing the building from the city. The original real estate contract was inked in November 2004 in the amount of $786,000 which was to be paid in monthly installments through September 2014. A modification was approved in 2013 when the city agreed to modify the balance and rate of interest to $391,176. 11 at 3 percent interest, and to extend the contract through March 2053.
The latest modification calls for the unpaid balance to be set at $174,823.81 with 0 percent interest to be charged. The center will pay $485.62 per month beginning this month and concluding Aug. 1, 2049 when the balance will be paid off.
Bob Schultz, representing the Webster City Day Care board, thanked the council for the adjustments made to the contract.
“This put a lot of minds at ease and I know our director is very pleased with this,” he said. “I thank you on behalf of the board and parents and the kids.”
The council also considered a restructured loan agreement with Riverview Early Childhood Center, 705 Odell St. The new agreement will restructure the loan by reducing the remaining balance due to $27, 381.80 with 0 percent annual interest rate. Monthly payments of $232.77 will begin this month, according to the agreement, and will continue until Aug. 1, 2029, when the balance will be paid in full.
“Our director at Riverview is very grateful for this and I know the parents that see price increases all the time, this does put a lot of peoples’ minds at ease,” said Councilman Logan Welch. Welch sits on the board of the day care facility.
“I appreciate all the work the mayor did to push this along,” Welch added.
In other business, the council:
• Approved a request from the street department supervisor to seek bids for crushing of concrete at the street department and to award the contract if bids come in under the budgeted amount.
• Approved a request from the line department supervisor for two foremen and himself to attend North America’s Largest Utility and Construction Trade Show in Louisville, KY Oct. 1-3.
• Accepted and executed easements in connection with the 2019-2019 electrical underground conversion project.
• Approved liquor licenses for the following businesses: A Class C liquor license, outdoor service and Sunday sales for C&C American Tap (renewal); Class C liquor license, outdoor service and Sunday sales for Carpy’s Biker Bar (renewal); a five-day event license – Class C liquor license, outdoor service and Sunday sales for Briggs Woods Golf Course for the Farm to Table event set for Sunday, Oct. 6 in the 700 block of Second Street.