Letter of Support for Talon Development's Workforce Housing Tax Credit Application to Iowa Economic Development AuthorityCity of Dubuque
City Council Meeting
Consent Items # 014.
Copyrighted
July 18, 2022
ITEM TITLE: Letter of Support for Talon Development's Workforce Housing Tax
Credit Application to Iowa Economic Development Authority
SUMMARY: City Manager recommending City Council approval on a letter of support
provided to Talon Development, a multi -residential developer, to accompany
its application to the IEDA requesting workforce housing tax credits.
SUGGESTED Suggested Disposition: Receive and File; Approve
DISPOSITION:
ATTACHMENTS:
Description
Talon Development - Workforce Housing Tax Credit
Application Letter of Support-MVM Memo
Staff Memo
Letter of Support
Type
City Manager Memo
Staff Memo
Supporting Documentation
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TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: Letter of Support for Talon Development's Workforce Housing Tax Credit
Application to Iowa Economic Development Authority
DATE: July 14, 2022
Economic Development Director Jill Connors is recommending City Council approval on
a letter of support provided to Talon Development, a multi -residential developer, to
accompany its application to the IEDA requesting workforce housing tax credits.
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 Economic Development
Department
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Masterpiece on the Mississippi 2017*2019
TO: Michael C. Van Milligen, City Manager
FROM: Jill M. Connors, Economic Development Director
SUBJECT: Letter of Support for Talon Development's Workforce Housing Tax Credit
Application to Iowa Economic Development Authority
DATE: July 14, 2022
INTRODUCTION
This memorandum provides information on a letter of support provided to a multi -
residential developer to accompany its application to the IEDA requesting workforce
housing tax credits.
BACKGROUND
Studies show that Dubuque has a significant housing shortage. To this end, City staff
continuously work with developers who propose plans to develop a variety of housing
options in the community.
DISCUSSION
In June of this year, Talon Development contacted staff regarding a proposed residential
project within city limits of the City of Dubuque (currently proposed as Fox Hills
Apartments). This project is a multi -family residential building with approximately 90 units
or workforce housing.
Talon Development requested a letter of support for its application from the City. This
support is required by the IEDA.
Attached is the letter provided to Talon Development supporting the project.
RECOMMENDATION/ ACTION STEP
I recommend City Council approval of the attached letter of support.
THE CITY OF
DUB E
Masterpiece on the Mississippi
Mr. Dan Hansen
Iowa Economic Development Authority
Dear Mr. Hansen,
Dubuque
Economic Development
Department
1300 Main Street
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Dubuque, Iowa 52001-4763
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Office (563) 589-4393
1111
TTY (563) 690-6678
http://www.cityofdubuque.org
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2017*2019
I am pleased to present a conditional offer for a financial incentive for the completion of a
proposed residential project within city limits of the City of Dubuque (currently proposed
as Fox Hills Apartments). This offer is based on the anticipated completion of a multi-
family residential building with approximately 90 units in substantial conformance with the
concept plans outlined in the financial assistance application.
This offer is conditioned on proof of developer financing for the project, award of the
Workforce Housing Tax Credit, approval of a subsequent Housing Urban Renewal Area
by the Dubuque City Council, and the completion of site development requirements.
Based on initial review of the project application, the economic development team is
prepared to extend a Housing TIF offer of a 10-year rebate of non-LMI directed property
taxes in the area. The 10 years would begin with the initial year of certification to Dubuque
County.
The project will be an excellent addition to Dubuque, and we look forward to continuing
to work with Talon Development to bring it to completion.
Sincerely, Dj�
Jill M Connors, Economic Development Director