Assignment of Development Agreement with Kenneth Oberbroeckling to Ned Oberbroeckling to redevelop 253 Main Street Copyrig hted
March 1, 2021
City of Dubuque Consent Items # 6.
City Council Meeting
ITEM TITLE: Assignment of DevelopmentAgreementwith Kenneth Oberbroeckling to
Ned Oberbroeckling to Redevelop Property at 253 Main Street
SUM MARY: City Manager recommending approval of an Assignment of
Development Agreement for redevelopment of property at 253 Main
Street.
RESOLUTION Consenting to the Assignment of the Development
Agreement between the City of Dubuque and Kenneth Oberbroeckling
from Kenneth Oberbroeckling to Ned Oberbroeckling
SUGGESTED Suggested Disposition: Receive and File;Adopt Resolution(s)
DISPOSITION:
ATTACHMENTS:
Description Type
Oberbroeckling Assignment of Development Agreement City Manager Memo
for 253 Main Street-MVM Memo
Staff Memo Staff Memo
Resolution Resolutions
Assignment of DevelopmentAgreement Supporting Documentation
Dubuque
THE CITY OF �
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TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: Assignment of Development Agreement with Kenneth Oberbroeckling to
Ned Oberbroeckling to Redevelop Property at 253 Main Street
DATE: February 23, 2021
Economic Development Director Jill Connors recommends City Council approval of an
Assignment of Development Agreement for redevelopment of property at 253 Main
Street. On April 6, 2015, the City of Dubuque entered into a Development Agreement
with Kenneth Oberbroeckling. Kenneth Oberbroeckling has requested assignment of
the Development Agreement to Ned Oberbroeckling. All other terms and conditions of
the Development Agreement, as amended, will remain in place.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
�
Mic ael C. Van Milligen
MCVM:jh
Attachment
cc: Crenna Brumwell, City Attorney
Cori Burbach, Assistant City Manager
Jill M. Connors, Economic Development Director
Dubuque Economic Development
Department
THE CITY OF � 1300 Main Street
All•America Eity Dubuque,lowa 52001-4763
�� � "h�N",`��nz�'��:�:��� Office(563)589-4393
1 I ��� TTY(563)690-6678
http://www.cityofd u bu q ue.org
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TO: Michael C. Van Milligen, City Manager
FROM: Jill M. Connors, Economic Development Director
SUBJECT: Assignment of Development Agreement with Kenneth Oberbroeckling to
Ned Oberbroeckling to redevelop property at 253 Main Street
DATE: February 21, 2021
INTRODUCTION
This memorandum requests City Council approval of an Assignment of Development
Agreement for the project located at 253 Main Street to Ned Oberbroeckling.
BACKGROUND
On April 6, 2015, the City of Dubuque entered into a Development Agreement with
Kenneth Oberbroeckling for the redevelopment of 253 Main Street. This redevelopment
effort included the creation of four residential units and improved first floor commercial
space. To incentivize the redevelopment project the City committed $40,000 in incentives
through the Downtown Housing Incentive Program, $35,000 in incentives through the
Downtown Rehabilitation program, and 10-years of tax increment financing.
Oberbroeckling estimated the total development cost to be at least $600,000.
In December 2015, a First Amendment to Development Agreement extended the project
completion date to March 1, 2016.
DISCUSSION
Kenneth Oberbroeckling requests to assign the Development Agreement to Ned
Oberbroeckling as permitted by Section 4.11 of the Development Agreement. All other
terms and conditions of the Development Agreement, as amended, will remain in place.
RECOMMENDATION/ ACTION STEP
I recommend the City Council adopt the attached resolution approving the Assignment of
the Development Agreement to Ned Oberbroeckling.
2
Prepared by and return to Jill M Connors, 50 W 13th Street, Dubuque IA 52001 563 589-4393
RESOLUTION NO. 53-21
CONSENTING TO THE ASSIGNMENT OF THE DEVELOPMENT AGREEMENT
BETWEEN THE CITY OF DUBUQUE AND KENNETH OBERBROECKLING FROM
KENNETH OBERBROECKLING TO NED OBERBROECKLING
WHEREAS, the City of Dubuque, Iowa and Kenneth Oberbroeckling (Developer)
entered into a Development Agreement dated for reference purposes the 6th of April,
2016, for the following property, situated in Dubuque, Iowa:
City Lot 75; and City Lot 74A EXCEPT the north 6 inches thereof; in the City
of Dubuque, Iowa, according to the Commissioners' Map of the Town of
Dubuque, Iowa;
(the Property), locally known as 253 Main Street; and
WHEREAS, pursuant to the Development Agreement, Developer is required to
provide certain improvements to the building located on the Property; and
WHEREAS, in order to facilitate development of the Property, the Property has
been conveyed by Developer to Ned Oberbroeckling; and
WHEREAS, Developer desires to assign the Development Agreement to Ned
Oberbroeckling, pursuant to the Assignment attached hereto in order to facilitate the
development of the Property; and
WHEREAS, the Development Agreement authorizes the conveyance of the
Property and assignment, subject to City Council consent; and
WHEREAS, the City Council finds that it is in the best interests of the City of
Dubuque to consent to the conveyance of the Property and the Assignment.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
DUBUQUE, IOWA:
Section 1. The City of Dubuque hereby consents to the conveyance of the
Property and the Assignment of the Development Agreement to Ned Oberbroeckling.
Section 2. The Mayor is hereby authorized and directed to execute the Consent
to Assignment on behalf of the City of Dubuque.
Passed, approved and adopted the
Attest:
17, A4�"111
Adrienne N. Breitfelder, City Clerk
1 st day of March, 021.
k �Lz
Roy D. B I, Mayor
Prepared by and Return to: Jill M. Connors, 1300 Main Street, Dubuque, Iowa 52001
r I OPMENT AGREEMENT
BETWEEN
KENNETH OBERBROECKLING
AND
NED OBERBROECKLING
This Assignment of Development Agreement, dated for reference purposes the
day of �11%r , 2021, is made and entered into by and between Kenneth
-- ' �1 and - r �Ws
Oberbroecklingg (Assignor) and Ned Oberbroeckling (Assignee).
WHEREAS, Assignor is the Developer in the Development Agreement between
Developer and the City of Dubuque, Iowa, dated April 6, 2015, as amended by the First
Amendment, for the following property, situated in Dubuque, Iowa:
City Lot 75; and City Lot 74A EXCEPT the north 6 inches thereof, in the
City of Dubuque, Iowa, according to the Commissioners' Map of the Town
of Dubuque, Iowa;
(the Property), locally known as 253 Main Street; and
WHEREAS, the Development Agreement specifies various rights and obligations
of Assignor and the City of Dubuque related to the development of the building located
on the Property; and
WHEREAS, Assignor desires to assign all of his interest in and to the
Development Agreement to Assignee and Assignee desires to accept such assignment
and agrees to be bound by the terms thereof; and
WHEREAS, the assignment by Assignor to Assignee hereunder is permanent
and complete and Assignor retains no rights under the Development Agreement
whatsoever as of the date hereof, and
WHEREAS, the City of Dubuque, Iowa has consented to this Assignment as
required by the Development Agreement,
NOW, THEREFORE, IT IS AGREED BY AND BETWEEN THE PARTIES AS
FOLLOWS:
SeOi.onl - Assignment. Assignor hereby assigns to Assignee, and Assignee
hereby accepts from Assignor, this assignment of the Development Agreement, which
assignment includes all rights and obligations of any sort whatsoever of Assignor
thereunder such that, upon acceptance hereof by Assignee, Assignor shall have no
right or interest whatsoever in and to the Development Agreement as of the date hereof
and Assignee agrees to be fully bound by the Development Agreement and shall carry
out all obligations of, and be entitled to all rights of, Assignor thereunder.
Section 2. Law/Binding Effect. This Assignment shall be governed by and
construed in accordance with the laws of the State of Iowa, This Assignment shall be
binding upon the parties hereto and their respective successors in interest and assigns.
In the event of a breach of this Assignment the non -breaching party shall be entitled to
all rights and remedies at law or in equity and shall be entitled to recover reasonable
attorneys' fees incurred due to the breach.
Section 3. Affirmation, The parties hereby affirm the Development Agreement in
all respects, except that hereafter the Developer thereunder shall be the Assignee; in all
other respects, the Development Agreement shall remain in full force and effect
according to its terms.
KENNETH OBERBROECKLING NED OBERBROECKLINII
CONSENT TO ASSIGNMENT BY THE CITY OF DUBUQUE, IOWA
The City of Dubuque hereby consents to the foregoing Assignment.
By:
Roy' D. Mayor
Attest:
Adrienne N. Breitfelder, city Clerk
STATE OF IOWA
COUNTY OF.Z?-" &gss:
This instrument was acknowledged before me on Ft-�
by Kenneth Oberbroeckling.
L 7
Notary Public i�nd for
State of Iowa
CONNIE J. MUELLER
NvMbG( 822W
Cw-- ktYCOMM EX-P.DiEC23,2022
STATE OF 10
COUNTY OF ss:
This instrument was acknowledged before me on
by Ned Oberbroeckling.
L114 Jf
Notary Public in dfor���
State of Iowa
CONNIE J, MUELLER
Urmissal n Numba 822849
My Comm. Up. DEC 23,2=