Second Amendment to Grant Agreement with Real Property Investments, LLC for Rehabilitation of 1540 Central AveCopyrighted
July 5, 2022
City of Dubuque Consent Items # 06.
City Council Meeting
ITEM TITLE: Second Amendment to Grant Agreement Between the City of Dubuque
and Real Property Investments, LLC for the Rehabilitation of 1540
Central Avenue
SUMMARY: City Manager recommending City Council adopt a resolution approving
the Second Amendment to Grant Agreement between the City of
Dubuque and Real Property Investments, LLC.
RESOLUTION Approving the Second Amendment to Grant Agreement
between the City of Dubuque, Iowa and Real Property Investments, LLC
SUGGESTED Suggested Disposition: Receive and File; Adopt Resolution(s)
DISPOSITION:
FIN ik[91:ILyil21zIII l+]
Description Type
Second Amendment to Grant Agreement with Real City Manager Memo
Property Investments, LLC-MVM Memo
Staff Memo Staff Memo
Resolution
Resolutions
Second Amendment Supporting Documentation
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TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: Second Amendment to Grant Agreement Between the City of Dubuque
and Real Property Investments, LLC for the Rehabilitation of 1540 Central
Avenue
DATE: June 29, 2022
Economic Development Director Jill Connors is recommending City Council adopt the
resolution approving the Second Amendment to Grant Agreement between the City of
Dubuque and Real Property Investments, LLC. This amendment modifies the
completion date to August 1, 2022.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
v
Mic ael C. Van Milligen
MCVM:sv
Attachment
CC' Crenna Brumwell, City Attorney
Cori Burbach, Assistant City Manager
Jill Connors, Economic Development Director
Dubuque
THE CITY OF
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2007-2012.2013
Masterpiece on the Mississippi 2017*2019
TO: Michael C. Van Milligen, City Manager
FROM: Jill M. Connors, Economic Development Director
Economic Development
Department
1300 Main Street
Dubuque, Iowa 52001-4763
Office (563) 589-4393
TTY (563) 690-6678
http://www.cityofdubuque.org
SUBJECT: Second Amendment to Grant Agreement Between the City of Dubuque
and Real Property Investments, LLC for the Rehabilitation of 1540 Central
Avenue
DATE: June 22, 2022
INTRODUCTION
This memorandum presents for City Council consideration and action the attached
resolution approving a Second Amendment to Grant Agreement between the City of
Dubuque and Real Property Investments, LLC for the rehabilitation of 1540 Central
Avenue.
BACKGROUND
The Downtown Rehabilitation Loan Program (DRLP) provides several incentives from the
Economic Development department for the rehabilitation of historic buildings in our
greater downtown.
This program has had a positive impact in the appearance and livability of our downtown,
which leads to a more attractive business and residential environment. As such, the
Economic Development Department finds these programs to be great tools for attracting
and retaining a quality workforce for our businesses.
On September 8, 2021 the Dubuque City Council awarded to Real Property Investments,
LLC a grant in the amount of $50,000 for the rehabilitation of 1540 Central Avenue. Terms
of the grant included the creation of four residential rental units and rehabilitation of the
building fagade. The original agreement required the minimum improvements to the
property be completed by March 1, 2022.
On March 21, 2022 the Dubuque City Council approved a First Amendment to Grant
Agreement by Resolution No. 83-22. The First Amendment modified the date of
completion to be June 1, 2022.
DISCUSSION
The rehabilitation of 1540 Central Avenue is progressing. However, supply chain delays
and increased material costs have pushed the project behind schedule. Real Property
Investments, LLC has been in consistent communication with our department on the
status of the project throughout this rehabilitation process. Real Property Investments,
LLC has requested an amended completion date of August 1, 2022. This will allow time
for the project to be completed and properly inspected.
RECOMMENDATION / ACTION STEP
I respectfully request City Council approval of the attached resolution approving the
Second Amendment to Grant Agreement between the City of Dubuque and Real Property
Investments, LLC.
2
Prepared by: Jill Connors, Economic Development, 50 W. 1311 Street, Dubuque IA 52001, 563 589-4393
Return to: Jill Connors, Economic Development, 50 W. 1311 Street, Dubuque IA 52001, 563 589-4393
RESOLUTION NO. 239-22
APPROVING THE SECOND AMENDMENT TO GRANT AGREEMENT BETWEEN THE
CITY OF DUBUQUE, IOWA AND REAL PROPERTY INVESTMENTS, LLC
WHEREAS, the City of Dubuque (City) and Real Property Investments, LLC (Grant
Recipient) entered into a Grant Agreement dated September 8, 2021, as amended, for
the redevelopment of 1540 Central Avenue in the City of Dubuque, Iowa (the Project);
and
WHEREAS, City and Grant Recipient desire to further amend the Grant
Agreement as set forth in the attached Second Amendment to Grant Agreement.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF DUBUQUE, IOWA:
Section 1. That the Second Amendment to Grant Agreement between the City
of Dubuque, Iowa and Real Property Investments, LLC, a copy of which is attached
hereto, is hereby approved.
Section 2. That the Mayor is hereby authorized and directed to execute the
Second Amendment to Grant Agreement on behalf of the City of Dubuque and the City
Clerk is authorized and directed to attest to his signature.
Section 3. That the City Manager is authorized to take such actions as are
necessary to comply with the terms of the Second Amendment to Grant Agreement as
herein approved.
Passed, approved and adopted this 5th day of July, 2022.
�-15Ead M. Cavanagh, Mayor
Attest:
Adrienne N. Breitfelder, City Clerk
SECOND AMENDMENT
TO
GRANT AGREEMENT
BETWEEN
THE CITY OF DUBUQUE, IOWA
AND
REAL PROPERTY INVESTMENTS, LLC
This SPA--i Amendment to Grant Agreement, dated for reference purposes the
day of 1` 2022, is made and entered into by the City of Dubuque,
Iowa, a municipality/(City), established pursuant to the Iowa Code and acting under
authorization of Iowa Code Chapter 403, as amended (the Urban Renewal Act), and Real
Property Investments, LLC (Grant Recipient).
WHEREAS, City and Grant Recipient entered into a Grant Agreement dated
September 8, 2021, as amended (the Grant Agreement); and
WHEREAS, City and Grant Recipient desire to further amend the Grant Agreement
as set forth herein.
NOW THEREFORE, IN CONSIDERATION OF THE MUTUAL TERMS AND
COVENANTS CONTAINED HEREIN, CITY AND GRANT RECIPIENT AGREE AS
FOLLOWS:
Section 1. Section 1.2 of the Grant Agreement is hereby amended to read as
follows:
1.2 Completion of Minimum Improvements. Grant Recipient shall
complete construction of the Minimum Improvements by August 1, 2022. City
shall determine in its sole discretion (following an inspection by City's
Inspection and Construction Services Department and/or Housing &
Community Development Department, and/or Planning Department) when
the Minimum Improvements have been completed. In order to be considered
completed, the Minimum Improvements must be constructed in accordance
with the terms of this Agreement, in compliance with the regulations of the
Downtown Rehabilitation Grant Program, and in substantial conformity with
Grant Recipient's application to that Program and the Design Letter attached
hereto.
Section 2. Except as modified herein, the Grant Agreement shall remain in full
force and effect.
CITY OF DUBUQUE, IOWA REAL PROPERTY INVESTMENTS, LLC
By: V
Gabriel Mozena, nager
Attest:
L� AMI"
Adrienne N. Breitfelder, City Clerk