1 15 09 City Council Proceedings Official_Special
CITY OF DUBUQUE, IOWA
CITY COUNCIL PROCEEDINGS
OFFICIAL
The Dubuque City Council met in special session at 5:45 p.m. on January 15, 2009 in
the Historic Federal Building.
Present: Mayor Buol, Council Members Braig, Connors, Jones, Lynch, Resnick,
Voetberg, City Manager Van Milligen, City Attorney Lindahl
Mayor Buol read the call and stated this is a special session of the City Council called
for the purpose of discussing such matters which may properly come before the City
Council.
ITEMS TO BE SET FOR PUBLIC HEARING
Motion by Lynch to receive and file the documents, adopt the resolutions, set the
public hearings as indicated, and direct the City Clerk to publish notice as prescribed by
law. Seconded by Connors. Motion carried 7-0.
International Business Machines Corporation: City Manager recommending that a
public hearing be set for January 26, 2009 on a proposed Development Agreement
between the City and Dubuque Initiatives and a proposed Incentive Agreement between
the City and International Business Machines Corporation. Upon motion the documents
were received and filed and Resolution No. 16-09 Fixing date of hearing on a proposed
Development Agreement between the City of Dubuque and Dubuque Initiatives, and a
proposed Incentive Agreement between the City and International Business Machines
Corporation was adopted setting a public hearing for a meeting to commence at 6:30
p.m. on January 26, 2009 in the Historic Federal Building.
RESOLUTION NO. 16-09
FIXING DATE OF HEARING ON A PROPOSED DEVELOPMENT AGREEMENT
BETWEEN THE CITY OF DUBUQUE, IOWA AND DUBUQUE INITIATIVES, AND A
PROPOSED INCENTIVE AGREEMENT BETWEEN THE CITY AND INTERNATIONAL
BUSINESS MACHINES CORPORATION
WHEREAS, the City Council has approved and adopted an Amended and Restated
Urban Renewal Plan (the "Urban Renewal Plan") for an area described therein as the
Greater Downtown Urban Renewal District (the "Urban Renewal Area"); and
WHEREAS, it is desirable that properties within the Urban Renewal Area be
redeveloped as part of the overall redevelopment area covered by said Urban Renewal
Plan; and
WHEREAS, the City of Dubuque ("City") has received a proposal from Dubuque
Initiatives (the "Developer") and International Business Machines Corporation (the
"Employer"), in the form of a proposed Development Agreement (the "Development
Agreement") between the City and the Developer and a proposed Incentive Agreement
(the "Incentive Agreement", and together with the Development Agreement, referred to
herein as the "Agreements") between the City and the Employer, pursuant to which,
among other things, the Developer would acquire and renovate the Dubuque Building
located at 700 Locust Street in the City, and lease portions of the same to the Employer;
and
WHEREAS, the Employer reasonably expects to create approximately 1,300 new
full-time employment positions at the Dubuque Building property prior to January 1,
2011, and reasonably expects to maintain those jobs during the term of the
Agreements; and
WHEREAS, in consideration of the obligations being assumed by the Developer and
the Employer, the Agreements further propose that the City provide certain financial
assistance to the Developer and the Employer, including a loan guaranty for the benefit
of the Developer and the payment of certain economic development grants to the
Developer and the Employer; and
WHEREAS, the economic development grants to the Developer and the Employer
shall be payable from, and only from, the tax increment revenues collected by the City
in respect of the Dubuque Building property and the improvements constructed thereon,
under the terms and following satisfaction of the conditions set forth in the Agreements;
and
WHEREAS, Iowa Code Chapters 15A and 403 (the "Urban Renewal Law") authorize
cities to make grants for economic development purposes in furtherance of the
objectives of an urban renewal plan and project and to appropriate such funds and
make such expenditures as may be necessary to carry out the purposes of said
Chapter, and to levy taxes and assessments for such purposes; and
WHEREAS, the Council has determined that the Agreements are in the best interests
of the City and the residents thereof and that the performance by the City of its
obligations thereunder are public undertakings and purposes and in furtherance of the
Urban Renewal Plan and the Urban Renewal Law and, further, that the Agreements and
the City's performance thereunder are in furtherance of appropriate economic
development activities and objectives of the City within the meaning of Chapters 403
and 15A of the Iowa Code, taking into account the factors set forth therein; and
WHEREAS, the Urban Renewal Law sets forth the procedural action required to be
taken before said tax increment payments can be made under the Agreements, and
pursuant to Section 403.9 of the Code of Iowa, the Clerk shall publish notice of the
proposal and of the time and place of the meeting at which the Council proposes to take
action thereon and to receive oral and/or written objections from any resident or
property owner of said City to such action.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
DUBUQUE, IOWA:
Section 1. That the performance by the City of its obligations under the Agreements,
including but not limited to the payment of the economic development grants to the
Developer and the Employer under the terms set forth in the Agreements, be and are
hereby declared to be public undertakings and purposes and in furtherance of the
Urban Renewal Plan and the Urban Renewal Law and, further, that the Agreements and
the City's performance thereunder are in furtherance of appropriate economic
development activities and objectives of the City within the meaning of Chapters 403
and 15A of the Iowa Code, taking into account the factors set forth therein.
Section 2. That this Council meet in the Historic Federal Building, 350 West 6th
th
Street, Dubuque, Iowa, at 6:30 o'clock P.M., on the 26 day of January, 2009, for the
purpose of taking action on the proposal to approve the Agreements and the payment of
the economic development grants to the Developer and the Employer, under the terms
set forth therein.
Section 3. That the Clerk is hereby directed to cause at least one publication to be
made of a notice of said meeting, in a legal newspaper, printed wholly in the English
language, published at least once weekly, and having general circulation in said City,
said publication to be not less than four clear days nor more than twenty days before
the date of said public meeting.
Section 4. The notice of the proposed action shall be in substantially the [provided]
form.
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Passed and approved this 15 day of January, 2009.
Roy D. Buol, Mayor
Attest: Jeanne F. Schneider, CMC, City Clerk
Sale of General Obligation Bonds: City Manager recommending that a public hearing
be set for January 26, 2009 to consider the issuance of not to exceed $25,000,000
General Obligation Bonds (for Urban Renewal Purposes). Upon motion the documents
were received and filed and Resolution No. 17-09 Fixing date for a meeting on the
proposition of the issuance of not to exceed $25,000,000 General Obligation Bonds (for
Urban Renewal Purposes) of Dubuque, Iowa, and providing for publication of notice
thereof was adopted setting a public hearing for a meeting to commence at 6:30 p.m. on
January 26, 2009 in the Historic Federal Building.
RESOLUTION NO. 17-09
RESOLUTION FIXING DATE FOR A MEETING ON THE PROPOSITION OF THE
ISSUANCE OF NOT TO EXCEED $25,000,000 GENERAL OBLIGATION BONDS
(FOR URBAN RENEWAL PURPOSES) OF DUBUQUE, IOWA, AND PROVIDING
FOR PUBLICATION OF NOTICE THEREOF
WHEREAS, it is deemed necessary and advisable that the City of Dubuque, Iowa,
should be authorized to issue General Obligation Bonds to the amount of not to exceed
$25,000,000, as authorized by Sections 403.12 and 384.24(3)(q) of the Code of Iowa,
for the purpose of providing funds to pay costs of carrying out the urban renewal project
as hereinafter described; and
WHEREAS, before said Bonds may be issued, it is necessary to comply with the
provisions of said Code, and to publish a notice of the proposal to issue such Bonds
and of the time and place of the meeting at which the Council proposes to take action
for the issuance of the Bonds and to receive oral and/or written objections from any
resident or property owner of said City to such action, and the right to petition for an
election.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
DUBUQUE, IOWA:
Section 1. That this Council meet in the Historic Federal Building, 350 West 6th
th
Street, Dubuque, Iowa, at 6:30 o'clock P.M., on the 26 day of January, 2009, for the
purpose of taking action on the matter of the issuance of not to exceed $25,000,000
General Obligation Bonds for urban renewal purposes of said City, the proceeds of
which bonds will be used to provide funds to pay costs of aiding in the planning,
undertaking and carrying out of urban renewal project activities under the authority of
Chapter 403 of the Code of Iowa and the Amended and Restated Urban Renewal Plan
for the Greater Downtown Urban Renewal District, including those costs associated with
the funding of any payments required under a Guaranty Agreement between the City
and Dubuque Bank & Trust Company, entered into to secure a loan to Dubuque
Initiatives for the purpose of acquiring, renovating, and improving the Dubuque Building
located at 700 Locust Street, Dubuque, Iowa.
Section 2. The Clerk is hereby directed to cause at least one publication to be made
of a notice of said meeting, in a legal newspaper, printed wholly in the English
language, published at least once weekly, and having general circulation in said City,
said publication to be not less than ten clear days before the date of said public meeting
on the issuance of said Bonds.
Section 3. The notice of the proposed action to issue said Bonds shall be in
substantially the [provided] form.
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Passed and approved this 15 day of January, 2009.
Roy D. Buol, Mayor
Attest: Jeanne F. Schneider, CMC, City Clerk
There being no further business, upon motion the City Council adjourned at 5:56 p.m.
Jeanne F. Schneider, CMC
City Clerk