Authorizing the Filing of an Application and Letter of Support to the Iowa Economic Development Authority Community Catalyst Building Remediation Grant Program on behalf of Nia Neighborhoods Opportunity Zone Fund, LLCCity of Dubuque
City Council Meeting
Consent Items # 011.
Copyrighted
April 3, 2023
ITEM TITLE: Authorizing the Filing of an Application and Letterof Supportto the Iowa
Economic Development Authority Community Catalyst Building
Remediation Grant Program on behalf of Nia Neighborhoods
Opportunity Zone Fund, LLC
SUMMARY: City Manager recommending City Council review and approval of a
resolution authorizing the submission of a Community Catalyst Building
Remediation Grant Program Application on behalf of Nia Neighborhoods
Opportunity Zone Fund, LLC to the Iowa Economic Development
Authority (I EDA) for the rehabilitation of 1398 White Street.
RESOLUTION Authorizing the filing of an application and letter of
support with the Iowa Economic Development Authority for the
application by the City of Dubuque on behalf of Nia Neighborhoods
Opportunity Zone Fund, LLC for a Community Catalyst Building
Remediation Grant
SUGGESTED Suggested Disposition: Receive and File; Adopt Resolution(s)
DISPOSITION:
ATTACHMENTS:
Description Type
MVM Memo City Manager Memo
Staff Memo Staff Memo
Resolution
Application
Grant Application Attachments
Letter of Commitment
Letter of Support
Resolutions
Supporting Documentation
Supporting Documentation
Supporting Documentation
Supporting Documentation
THE CITY OF
Dubuque
DUB TEE1.
All -America City
Masterpiece on the Mississippi
� pp
zoo�•*o 13
zoi720zoi9
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: Authorizing the Filing of an Application and Letter of Support to the Iowa
Economic Development Authority Community Catalyst Building
Remediation Grant Program on behalf of Nia Neighborhoods Opportunity
Zone Fund, LLC
DATE: March 30, 2023
Economic Development Director Jill Connors is recommending City Council review and
approval of a resolution authorizing the submission of a Community Catalyst Building
Remediation Grant Program Application on behalf of Nia Neighborhoods Opportunity
Zone Fund, LLC to the Iowa Economic Development Authority (IEDA) for the
rehabilitation of 1398 White Street. The proposed project would advance the City
Council goals Robust Local Economy: Diverse Businesses and Jobs with Economic
Prosperity, Vibrant Community: Healthy and Safe, and Livable Neighborhoods and
Housing: Great Place to Live.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
Mic ael C. Van Milligen
MCVM:sv
Attachment
cc: Crenna Brumwell, City Attorney
Cori Burbach, Assistant City Manager
Jill Connors, Economic Development Director
THE CITY OF
UB & E
Masterpiece on the Mississippi
Dubuque Economic Development
Department
50 West 131h Street
AII•AmerieaNy Dubuque, Iowa 52001-4864
\AD �A `PM [N,11 Office (563) 589-4393
TTY (563) 690-6678
f I I®' http://www.cityofdubuque.org
2007-2012.2013
2017*2019
TO: Michael C. Van Milligen, City Manager
FROM: Jill M. Connors, Economic Development Director
SUBJECT: Authorizing the Filing of an Application and Letter of Support to the
Iowa Economic Development Authority Community Catalyst Building
Remediation Grant Program on behalf of Nia Neighborhoods
Opportunity Zone Fund, LLC
DATE: March 28, 2023
INTRODUCTION
This memorandum presents for City Council review and approval a resolution
authorizing the submission of a Community Catalyst Building Remediation Grant
Program Application on behalf of Nia Neighborhoods Opportunity Zone Fund, LLC to
the Iowa Economic Development Authority (IEDA) for the rehabilitation of 1398 White
Street.
BACKGROUND
The Community Catalyst Building Remediation Program assists communities with the
redevelopment or rehabilitation of buildings to stimulate economic growth or
reinvestment in the community. Funding of the grant is based on annual availability.
One commercial building per community is eligible for the project application.
Nia Neighborhoods Opportunity Zone Fund, LLC, is the building owner of 1398 White
Street. This organization intends to redevelop the property according to the guidelines
set forth by the City of Dubuque and the IEDA Community Catalyst Building remediation
Grant Program.
DISCUSSION
The rehabilitation of 1398 White Street will utilize smart growth principles to return the
fagade to its original character. Additional improvements include updating all
mechanicals to meet code and capacity, removing asbestos in the flooring and walls,
remediating water damage, roof and masonry repairs, remodeling residential areas,
installing a secure building access system, and outside lighting. An African American
barber will operate in the first -floor commercial space, with a new residential unit on the
first floor, and two affordable residential units on the second floor.
The project will symbolize progress in the community with new business and residential
units becoming available along major thoroughfares in Dubuque. This project aligns with
housing and economic development priorities, will serve as a third space for community
residents, and provides opportunities for entrepreneurs of color. The commercial space
will provide jobs for up to four cosmetologists with an earning potential of two to four
times the median average income in Dubuque of $30,243. The newly rehabilitated
residential units will provide diverse housing options in the neighborhood while not
pricing current residents out of the neighborhood.
RECOMMENDATION/ ACTION STEP
I recommend that the City Council approve the submission of a Community Catalyst
Building Remediation Grant Program Application on behalf of Nia Neighborhoods
Opportunity Zone Fund, LLC to the Iowa Economic Development Authority. The
proposed project would advance the City Council goals Robust Local Economy: Diverse
Businesses and Jobs with Economic Prosperity, Vibrant Community: Healthy and Safe,
and Livable Neighborhoods and Housing: Great Place to Live.
2
Prepared by: Jill Connors, Economic Development, 50 W. 13'^ Street, Dubuque IA 52001, 563 589-4393
Return to: Jill Connors, Economic Development, 50 W. 13t' Street, Dubuque IA 52001, 563 589-4393
RESOLUTION NO. 86-23
AUTHORIZING THE FILING OF AN APPLICATION AND LETTER OF SUPPORT WITH
THE IOWA ECONOMIC DEVELOPMENT AUTHORITY FOR THE APPLICATION BY
THE CITY OF DUBUQUE ON BEHALF OF NIA NEIGHBORHOODS OPPORTUNITY
ZONE FUND, LLC FOR A COMMUNITY CATALYST BUILDING REMEDIATION
GRANT
Whereas, Nia Neighborhoods Opportunity Zone Fund, LLC has proposed making
a One Hundred Fifty Thousand Dollar ($188,000.00) investment for the rehabilitation of
1398 White Street in the City of Dubuque, Iowa (the Project); and
Whereas, financial assistance from the Iowa Economic Development Authority is
designed to assist communities with the development or rehabilitation of buildings to
stimulate economic growth or reinvestment in the community; and
Whereas, the City of Dubuque intends to apply to the Iowa Economic Development
Authority on behalf of Nia Neighborhoods Opportunity Zone Fund, LLC for the Community
Catalyst Building Remediation Grant Program; and
Whereas, the City Council of the City of Dubuque, Iowa has considered the
proposal and determined that the proposed Project will contribute to the local economy
through the creation of housing and jobs in the City, all of which qualify for the Iowa
Economic Development Authority Community Catalyst Building Remediation Grant
Program.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF DUBUQUE, IOWA:
Section 1. That the filing of the attached Application and Letter of Support for the
City of Dubuque to the Iowa Economic Development Authority on behalf of Nia
Neighborhoods Opportunity Zone Fund, LLC for the Community Catalyst Building
Remediation Grant Program, is hereby approved.
Section 2. That the Mayor is hereby authorized and directed to execute and the
City Manager is hereby directed to submit the Application and Letter of Support to the
Iowa Economic Development Authority together with such other documents as may be
required.
Passed, approved, and adopted this 3rd day of April, 2023.
.:Cavar�4h, Mayor
Attest:
al 2ter✓ne- 11
Adrienne N. Breitfelder, City Clerk
Community Catalyst Building Remediation Program Grant Application
Items included:
• Project Narrative
• Partner List
• Source of Funds
• Tax Benefits
• Use of Funds
• Minority Impact Statement
• Project 10-Year Proforma
• Attachments for Grant Application
o Project Assurances
o List of Contractual Liabilities Promissory Note for Mortgage
o Loan Commitment Letters
o Variance Application and documents — to be approved in April 19t" Board
meeting
o Grant awards Letters (Not applicable)
o Copy of Local Design Review Criteria used by subgrantee
• Not Included:
o Maps of location
o City Letter of Support — To be completed upon Council approval
Project Narrative
Complete Description of the Proposed Project
Description of proposed project
(2,500 characters maximum)
Include project planning that has already occurred and description of each major component of project
(Rehab, Infill, Deconstruction/Site Development). Include a detailed scope of work for the project that
also outlines the specific areas of the project that will be funded with the grant.
Response:
The 1398 White St design thoughtfully includes smart growth principles. The project will return the
facade to its original character, update all mechanicals to meet code and capacity, remove asbestos in
the flooring & walls, remediate water damage, make roof & masonry repairs, remodel the residential
areas, modernize the building facade, install a secure building access system, and outside lighting. An
African -American barber will operate on the 1st floor, with a new residential first floor unit, and two
affordable residential units above.
Phase 0- Design & Planning - Duration 5 months - Funded by owner equity and City grant funds
The following has been completed for this project: Site structural assessment; Site design plan; As -built
plans; Facade design and approval; Renovation budget and design; Building renderings; Project budget
and accounting framework; Pre -approved construction financing for the rehabilitation of the building;
Tax credit applications submitted for review and approval; City grants committed
Phase I - Site Development - Duration 2 weeks (post grant award contract) - Funded by Community
Catalyst and owner's equity
Securing permits; Review plans for HVAC, plumbing, electrical; Interior demolition and debris removal;
asbestos and lead remediation; structural engineering and pre -build inspections; Order framing HVAC,
plumbing and electrical materials; order windows and doors; order drywall, flooring and choose paint;
select interior fixtures (lighting, appliances, plumbing and electrical fixtures); project accounting
Phase II - Rehabilitation - Duration 4 months - Funded by Community Catalyst Grant
Secure required permits; Frame lower level commercial space and dwelling unit; Install HVAC, plumbing;
electrical; Replace windows and doors; install drywall and flooring; paint; install kitchen and bathroom
fixtures and appliances; Exterior paint removal; exterior window and door replacement; inspections;
project accounting
Phase III - Finishing and Close Out - Duration 1 month - Funded by Community Catalyst Grant and
owner's equity
Complete interior work including installing all fixtures, appliances, furnishings; Finishing all exterior work
and installing sign and barber pole; final inspections; closing out all permits; request project close out
inspection by IEDA; project accounting and close out for grant reimbursements; Marketing of residential
units
Description of the Proiect Impact
This section is worth 30 points
Describe how the proposed remediation will exhibit strong impact on the community and the
downtown. Include how the project will be a catalyst for economic development, improve the
appearance of the site and community and perhaps the safety of its immediate locale.
(2,500 characters maximum)
Response:
The project will symbolize progress in the development community with new businesses and residential
units becoming available directly along major thoroughfares in Dubuque. The project sits in a
designated Opportunity Zone, aligns with housing and economic development priorities, will serve as a
"third space" for community residents, and provides opportunities for entrepreneurs of color. The
building owner plans to start rehabilitation of the duplex attached (1390 White Street) immediately
following the completion of this renovation to continue the catalytic momentum of development along
this corridor.
Project visibility will have a significant impact on thousands of residents daily who pass this intersection
which connects downtown to the College -Grandview district via Loras Boulevard (14th St) and provides
the only direct route through downtown via White Street to the North End neighborhoods. The
modernized storefront and lighted signage will signify to the community that private investment can
bring valuable amenities to Dubuque. Increased pedestrian traffic during evening and weekend hours
will increase security in the neighborhood as well as ample street and building lighting on the North,
South and West sides.
The commercial space will provide jobs for up to four cosmetologists with an earning potential of two to
four times the median average income in Dubuque ($30,243). The prospective commercial tenant makes
an average $60 per hour cutting 1.5 clients per hour at an average $40 per haircut. Capri College, a local
beauty school, will provide a workforce pipeline for the business. Clients from surrounding commercial
buildings will be able to easily access this new amenity on foot, by car, bus or bike promoting
transportation diversity downtown. Increased traffic during lunch hours and after work will help other
local businesses. The business growth, services, taxes and utilities will also provide a direct economic
impact to the city.
The newly constructed, attainable residential units developed will provide diverse housing options in the
neighborhood while not pricing current residents out of the neighborhood. Workforce housing, close to
amenities, with easy access to major roads, transit, city services and entertainment is ideal. The location
is also easily accessible to students at Loras College and University of Dubuque and is across the street
from the historic Dubuque Bank and Trust building, another important development project in the city.
Proiect Aoorooriateness
This section is worth 10 points.
Describe how the building fits into the surrounding and uses high quality and appropriate materials.
Explain how the new building will complement existing neighboring buildings.
(2,500 characters maximum)
Response:
1398 White Street was chosen because of the underdeveloped commercial space on the White Street
corridor in downtown Dubuque. It is one of few commercial first floors that has been vacant for several
years. It was originally slated for demolition to be used as a parking lot for Dubuque Bank and Trust
located across the street. Renovating the building, creating new housing units and revitalizing the
commercial first floor is a much better fit for the community development goals and needs for the
neighborhood.
1398 White St will leverage the compact building design by rezoning and adding an additional housing
unit on the first floor with a garage. It is not typical for urban residential housing to include a garage;
and therefore, the market rate rent for this unit will create a diversity of housing options for this
neighborhood. The building is located on the city bus route and there is ample street parking
surrounding the building. To encourage diverse transportation options and walkability, a streetscape
mobility hub will be added in front of the commercial space to accommodate bikes, scooters and
skateboards. A lighting design that is both aesthetically pleasing and adds safety and security to the
neighborhood— including a lighted sign and barber pole— is also included in the design. Due to the
building's location on the corner, two signs are allowable. The round lighted sign projecting from the
White Street side of the building can be seen by drivers. A second lighted barber pole will also sit on the
corner of the building, identifying the business from either direction. The commercial level building
facade will have large, glass windows allowing drivers and pedestrians to see into the facility. The high
ceiling, exposed brick and minimalist design will have an industrial feel that extends the distinct Historic
Millwork District aesthetic, connecting the neighboring communities and creating a more cohesive feel
downtown.
Project Funding/Partnerships
This section is worth 10 points.
Describe how the proposed project will exhibit ample and reasonable funding from a number of sources.
Identify likely project partners.
(2,500 characters maximum)
Response:
This project exemplifies public support of private investment. Dubuque Bank and Trust has completed
an appraisal and provided approval for the $100,000 construction loan. Heritage Works is completing
the requisite tax credit applications for the Iowa Workforce Housing Tax Credits. These tax credits will
allow the maximum amount of economic impact to be put to work in the community through the
creation of tax revenue for the city, creation of housing units supporting workforce and low income
residents, the creation of jobs through the construction and commercial occupancy, and payments for
city services. The City of Dubuque will support the development through three matching grants which
solidify both the city and the equity owner's financial commitment to the project —Planning and Design
Grant, Financial Consulting Grant and Facade Grant— totaling $70,000 investment.
A diverse, collaborative team of stakeholders has been assembled to deliver the 1398 White Street
project. Nia Neighborhoods is a African -American owned, female -led qualified opportunity zone fund.
The commercial space will house a barbershop run by an African -American entrepreneur who has been
in the trade for over 20 years. The general contractor is Sacora Construction owned by an African -
American, Wharton School of Business graduate with development experience in Dubuque, Philadelphia
and Texas. The developer uses Novogradac, a national leader in Opportunity Zone accounting and Offit
Kurman, a national legal services organization bringing national partners into the state. Additionally, the
developer has strong ties to Stickley Morton architecture and Gronen, a historic developer in Dubuque.
The 1398 White Street project will be a beacon of success upon completion to help spur significant
development for developers of all sizes and backgrounds in Dubuque.
$100,000 construction loan - Dubuque Bank and Trust
$35,000 equity cash investment -Nia Neighborhoods OZ Fund
$15000 Financial Consulting grant - City of Dubuque Department of Economic Development
$10000 Planning and Design grant - City of Dubuque Department of Economic Development
$10000 Facade grant - City of Dubuque Department of Economic Development
Workforce Housing Tax Credits valued at $6,000
Urban Revitalization Tax Abatement valued at $9,960
Partner List
Participation - Multi -List
List the individuals who participated in the planning, development and design for the project.
Jill Connors, Director of the Economic Development, City of Dubuque
Ian Hatch, City of Dubuque Department of Economic Development
Chris Happ Olson, City of Dubuque Planning Services Department
Jason Duba, City of Dubuque Planning Services Department
Travis Schrobilgen, City of Dubuque Planning Services Department
Yindra Dixon, Nia Neighborhoods Opportunity Zone Fund
Lloyd Singletary, Sacora Construction
Duane Hagarty, Heritage Works
Mike Stickley, Stickley and Morton Architects
Nick Patrum, Dubuque Bank and Trust
Llsbeth Wainwright, Wainwright Group
Ellen Goodman -Miller, Gronen
Stephanie Smith, Offit Kurman
Project Budget — Sources and Uses
Building Information
Building Name Loras and White
Property Owner/Developer Nia Neighborhoods Opportunity Zone Fund LLC
Building/Site Address 1398 White Street Dubuque, IA 52001
Year Built 1900
Proposed Cost Amount $188,792.57 - total project cost; $100,098.70 - total construction cost
Sources of Funds
SOURCE OF FUNDS
Informatlan
AmouHs
Fmm
Commltmen Condltlom lAddltlonal lea
Community Catalyst Grant
S
100,000.00 Grant
Appl icd For
State/Federal Funds
S
6,000.00 Tax Credit
Applied For
Local Incentives
S
3S,000.00 Grant
Secured
Private Equity Investment
S
3S OM.00 Private
Secured
Private Loans
S
100,000.00 Loan
Approved W i l l corn l Pete underw riti ng upon g ra nt awa rd
Other Amount (Applied fort'
Other Amount (Secured)
Total
S
2 DMM
Tax Benefits
TAX BENEFITS
Source of Tax beneflt
Amour!
�erofplEoo
Workforce Mousing Tax Incentive Program
$
6,000.00 Tax Credit on $60,000of residential Rehab Casts
Federa l historic Tax Credit
$
Submitting application for Fedra l historic tax credits
State historic Tax Credit
$
Submitting application for state historic tax credit
Tax increment Financing
$
Notapplicable
New Markets Tax Credit
$
Not Appicable
Othe r
$
9,950.00 Tax a batement for 3 years at 53320
Tote I
S
15.960.00
Uses of Funds
[mS ILahv b IM�Mnf�k}
Construction- Exterlor Envelope
$
9,300.00
Construction • windows arkd Doors
$
1S,100.00
Consturction • Roofing
$
8,000.00
Construction • WAC
$
11,500.00
Construction- Plumbing
$
9,000.00
Construction • Elecrrlcal
$
5,21S.20
Corksturction • Insulatlon
$
6,aa8.00
Construction • General Carpentry
$
14,S00.00
Construction Finishes (paint, carper, fixtures, etch
$
20,s9s.s0
Co rr don - Subtotal
$
100,O98.70
Site Preparation (staging, demo/clean-up, asbestos(
$
24,372.00
Professional Servlces (archltect, englneer, historic preservation corks ulta no
S
32,500.00
Fees & Permlts (mortar test, Iowa Tax Creciltappllcatlon, bldg permlts, etc.j
$
1,811.00
Other
$
20,000.00
TOTAL BUDGET $ 188,79257
Minority Impact Statement
Minority Impact Statement
Question # 1
1. The proposed grant programs or policies could have a disproportionate or unique POSITIVE IMPACT
on minority persons.
If YES, describe the positive impact expected from this project
Indicate the group(s) positively impacted.
RESPONSE:
The grant program will have a unique positive impact on several African -American businesses in
Dubuque demonstrating the City's commitment to developing inclusive live -work environments in
choice neighborhoods. The 1398 White Street project will include African -American developers,
contractors and entrepreneurs creating an amenity catered to the African -American population in a low-
income community with a high population of people of color. It will provide a potential workplace for
cosmetology students enrolled at Capri College in Dubuque and services for community members and
students of color at the five resident colleges and universities. The location is highly visible and with
African -American ownership will highlight the City's investment in opportunities for people of color.
Creating a modernized, high quality commercial space plus new and newly renovated housing options in
a neighborhood plagued by lower quality housing units, poverty, crime, lack of investment and lack of
resources and amenities will shine a bright light on Dubuque's mission to support all communities within
its borders and the surrounding areas.
Attachments — Provided in the attached document
• Project Assurances — see attached signed document
• List of additional contractual liabilities
o Attached find the promissory note on the existing on the property between Nia
Neighborhoods Opportunity Sone Fund LLC and Dubuque Bank and Trust for
$84,000 30-year fixed commercial loan
0 Letter of Commitment from DB&T for the Commercial Loan for the renovation
• 10-year Proforma for 1398 White Street
1398 WHITE STREET 10-YEAR PROFORMA
7022
7023
1014
2025
2026
1027
2028
2029
2030
203E
2032
Commerical Rent
$ 2,250 $
9,750 $
12,000 S
12,350 $
12,731 $
13,113 $
13,506 $
13,911 $
14,329 S
14,758 $
15,201
0 nit 2 Rent- Res idential
$ 21100 $
6,300 $
6,300 $
6,489 $
6,684 $
6,894 $
7,091 $
7,303 $
7,523 $
7,748 $
7,981
Unit 3 Rent- Residential
$ 2,100 $
3,300 $
9,000 $
9,270 S
9,548 S
9,835 $
10,130 $
10,433 $
10,746 $
1L%9 $
11,401
Un1t4 Rent Residentlal
$ - $
3,000 $
12,000 S
1$360 S
12,731 S
13,113 S
13,506 $
13,911 $
14,329 $
14,758 S
15,201
Plapnty b.-.
6A30
22,3 $
39,30G $
4OA79 $
41AM $
42,94E $
",M $
4.5 %M $
46,92E $
48,34 $
49,784
BulldIng Cast
$ 1051000
Rene-tlnn Cast
$ - $
88,282 $
$
$
$
$
$
- $
- $
- $
TOTAL
Mortgage Payment
$ 11969 $
5,906 $
5,906 $
S,906 $
5,906 $
5,906 $
5,906 $
5,906 $
5,906 $
5,906 $
5,906
Property Taxes
$ $
L660 $
L660 S
1,660 S
11660 $
3,320 $
3,320 $
3,320 $
3, 326 $
3, 320 $
3, 320
mura nee
$ 1,858 $
1,BS8 S
1,858 S
1,858 $
1,858 $
1,858 $
1,858 $
1,858 $
1,858 $
1,858 $
1,858
Utilities
$ 3,600 $
14,400 $
B4O00 $
8,000 $
81000 $
MAO $
81000 $
81000 $
B4O00 $
81000 $
81000
Maintenance Expenses
$ 5,800 $
1,400 $
S,2S0 S
5,250 $
5,250 $
5,250 $
5,250 $
5,250 $
S12S0 $
51250 $
51250
Properly ExPensaa
r$
LI8ZZ7 $
L13-106 $
22,674 j
22A74 $
22,674 S
24A34 $
24,334 $
24,334 $
24A34 $
24.334 $
24}34
Inoome/ Lass
S 1111,7771 $
(91,1561 $
L6,626 $
17MS S
19,019 $
18,610 $
19,899 $
21,216 $
22,692 ¢
24,000 ¢
25AW $ 117,704
P,%%Mw RU
2022
2023
2024
2825
2026
2027
2028
2029
2030
203L
2032
Unit1
$ 750 $
1,000 $
1,000 S
1,030 S
1,061 $
2,093 $
1,126 S
1,159 $
1,194 $
1,230 $
1,267
ONt2
$ 525 $
525 $
525 S
S41 $
557 $
574 $
591 $
609 $
627 $
646 $
6G5
ONt3
$ 525 $
750 $
?SO S
773 $
795 $
820 $
944 $
869 $
896 S
922 $
950
Unit4
S $
1,000 $
1,000 S
L030 $
1,061 $
1,093 $
1,126 $
1,159 $
1,194 $
L230 $
1,267
• Variance Application and Supporting Documents - See attached
• Local Design Review Criteria - See attached
k,iWA&
economic develooment
PROJECT ASSURANCES:
Name of Property Owner: _Nia Neighborhoods Opportunity Zone Fund
Address of Project Property: _1398 White Street Dubuque, IA 52001
As rightful owner(s), developer(s), and/or responsible entity(s), we: (check boxes to confirm)
Agree to the submission of the Iowa Economic Development Authority (IEDA) Grant application for the
benefit of the above -named property/project.
Agree to all terms and conditions defined in the IEDA Grant application.
Agree to provide the specified cash match documented in the application.
Understand that grant funds are made as a reimbursement and understand that we must complete the
proposed scope of work for the project before receiving final reimbursement of grant funds. We
understand a representative of IEDA will conduct an on -site final inspection of the project before approval
of final reimbursement payment. We agree to work through the local government program for
reimbursement requests.
Agree to notify local grant recipient AND IEDA regarding changes in scope of work that may occur during
construction that vary from the proposed plans submitted in the grant application.
Understand that any significant deviation/changes from the submitted proposed designs without approval
,from IEDA may jeopardize the grant award.
Agree to abide by state and federal civil rights requirements which bars discrimination against any
employee, applicant for employment, or any person participating in any sponsored program on the basis
of race, creed, color, national origin, religion, sex, age, physical or mental disability.
Agree to maintain safe and sanitary working conditions and compensation for employment no less than
minimum wage.
Understand that IEDA reserves the right to use information relevant to the project in case studies,
program marketing, etc.
i� I am aware of the Secretary of the Interior's Standards for the Treatment of Historic Properties and it is
our desire to follow best practices for preservation and rehabilitation throughout the project.
I agree to conform with the Americans with Disability Act.
I agree to conform with all local building codes and regulations.
I agree to conform with all local design guidelines and design review processes (if applicable).
By signing this Project Assurances document, we certify the information presented above, and in the
application and attachments, to be true and correct to the best of the entity's knowledge.
Property Owner:
_Yindra Dixon, Owner
Tvice/Print Name and Ti_tle
City Representative (grant recipient):
Brad M. Cavanagh, Mayor
Type/Print Name and Title
- .r1Lr�,6_r1f3ffMEEr
Date: Ltvlarch 29, 2023 Date: April 4, 2023
PROMISSORY NOTE
Principal
l:aan Date
MaturiEy
' :Haan Na
caatrcon
Accaunt
Offlaer
Initials.:::``.
84 S)OQ )0
06..1 2t122 :
Q8 1 a:-2027_.>
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References in the boxes above are for Lender's use only and do not limit the applicability of this document to any particular loan or item.
Any item above containing """' has been omitted due to text length limitations.
Borrower: ALEX DIXON SR; YINDRA COTMAN-DIXON; and Lender: DUBUQUE BANK AND TRUST COMPANY
NIA NEIGHBORHOODS OPPORTUNITY ZONE MAIN BANK
FUND, LLC 1398 CENTRAL AVE
251 HIDDEN OAKS CT PO BOX 778
DUBUQUE, IA 52003 DUBUQUE, IA 52004-0778
(563) 589-2000
Principal Amount: $84,000.00 Date of Note: August 18, 2022
PROMISE TO PAY. ALEX DIXON SR; YINDRA COTMAN-DIXON; and NIA NEIGHBORHOODS OPPORTUNITY ZONE FUND, LLC ("Borrower")
jointly and severally promise to pay to DUBUQUE BANK AND TRUST COMPANY ("Lender"), or order, in lawful money of the United States of
America, the principal amount of Eighty-four Thousand & 00/100 Dollars ($84,000.00), together with interest on the unpaid principal balance
from August 18, 2022, calculated as described in the "INTEREST CALCULATION METHOD" paragraph using an interest rate of 4.950% per
annum based on a year of 360 days, until paid in full. The interest rate may change under the terms and conditions of the "INTEREST AFTER
DEFAULT" section.
PAYMENT. Borrower will pay this loan in 59 regular payments of $492.16 each and one irregular last payment estimated at $74,922.95.
Borrower's first payment is due September 18, 2022, and all subsequent payments are due on the same day of each month after that.
Borrower's final payment will be due on August 18, 2027, and will be for all principal and all accrued interest not yet paid. Payments include
principal and interest. Unless otherwise agreed or required by applicable law, payments will be applied first to any accrued unpaid interest; then
to principal; and then to any late charges. Borrower will pay Lender at Lender's address shown above or at such other place as Lender may
designate in writing.
INTEREST CALCULATION METHOD. Interest on this Note is computed on a 365/360 basis; that is, by applying the ratio of the interest rate
over a year of 360 days, multiplied by the outstanding principal balance, multiplied by the actual number of days the principal balance is
outstanding. All interest payable under this Note is computed using this method. This calculation method results in a higher effective interest
rate than the numeric interest rate stated in this Note.
PREPAYMENT. Borrower may pay without penalty all or a portion of the amount owed earlier than it is due. Early payments will not, unless
agreed to by Lender in writing, relieve Borrower of Borrower's obligation to continue to make payments under the payment schedule. Rather,
early payments will reduce the principal balance due and may result in Borrower's making fewer payments. Borrower agrees not to send Lender
payments marked "paid in full", "without recourse", or similar language. If Borrower sends such a payment, Lender may accept it without
losing any of Lender's rights under this Note, and Borrower will remain obligated to pay any further amount owed to Lender. All written
communications concerning disputed amounts, including any check or other payment instrument that indicates that the payment constitutes
"payment in full" of the amount owed or that is tendered with other conditions or limitations or as full satisfaction of a disputed amount must be
mailed or delivered to: DUBUQUE BANK AND TRUST COMPANY, MAIN BANK, 1398 CENTRAL AVENUE DUBUQUE, IA 52004-0778.
LATE CHARGE. If a payment is 15 days or more late, Borrower will be charged 5.000% of the unpaid portion of the regularly scheduled
payment or $10.00, whichever is greater.
INTEREST AFTER DEFAULT. Upon default, including failure to pay upon final maturity, the interest rate on this Note shall be increased to
15.000% per annum based on a year of 360 days. However, in no event will the interest rate exceed the maximum interest rate limitations
under applicable law.
DEFAULT. Each of the following shall constitute an event of default ("Event of Default") under this Note:
Payment Default. Borrower fails to make any payment when due under this Note.
Other Defaults. Borrower fails to comply with or to perform any other term, obligation, covenant or condition contained in this Note or in
any of the related documents or to comply with or to perform any term, obligation, covenant or condition contained in any other agreement
between Lender and Borrower.
Default in Favor of Third Parties. Borrower or any Grantor defaults under any loan, extension of credit, security agreement, purchase or
sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Borrower's property or
Borrower's ability to repay this Note or perform Borrower's obligations under this Note or any of the related documents.
False Statements. Any warranty, representation or statement made or furnished to Lender.by Borrower or on Borrower's behalf under this
Note or the related documents is false or misleading in any material respect, either now or at the time made or furnished or becomes false
or misleading at any time thereafter.
Death or Insolvency. The dissolution of Borrower (regardless of whether election to continue is made), any member withdraws from
Borrower, or any other termination of Borrower's existence as a going business or the death of any member, the insolvency of Borrower,
the appointment of a receiver for any part of Borrower's property, any assignment for the benefit of creditors, any type of creditor workout,
or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Borrower.
Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding, self-help,
repossession or any other method, by any creditor of Borrower or by any governmental agency against any collateral securing the loan.
This includes a garnishment of any of Borrower's accounts, including deposit accounts, with Lender. However, this Event of Default shall
not apply if there is a good faith dispute by Borrower as to the validity or reasonableness of the claim which is the basis of the creditor or
forfeiture proceeding and if Borrower gives Lender written notice of the creditor or forfeiture proceeding and deposits with Lender monies or
a surety bond for the creditor or forfeiture proceeding, in an amount determined by Lender, in its sole discretion, as being an adequate
reserve or bond for the dispute.
Events Affecting Guarantor. Any of the preceding events occurs with respect to any guarantor, endorser, surety, or accommodation party
of any of the indebtedness or any guarantor, endorser, surety, or accommodation party dies or becomes incompetent, or revokes or
disputes the validity of, or liability under, any guaranty of the indebtedness evidenced by this Note.
Adverse Change. A material adverse change occurs in Borrower's financial condition, or Lender believes the prospect of payment or
performance of this Note is impaired.
Insecurity. Lender in good faith believes itself insecure.
Cure Provisions. If any default, other than a default in payment, is curable and if Borrower has not been given a notice of a breach of the
same provision of this Note within the preceding twelve (12) months, it may be cured if Borrower, after Lender sends written notice to
Borrower demanding cure of such default: (1) cures the default within thirty (30) days; or (2) if the cure requires more than thirty (30)
days, immediately initiates steps which Lender deems in Lender's sole discretion to be sufficient to cure the default and thereafter
continues and completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably practical.
LENDER'S RIGHTS. Upon default, Lender may declare the entire unpaid principal balance under this Note and all accrued unpaid interest
immediately due, and then Borrower will pay that amount.
ATTORNEYS' FEES; EXPENSES. Lender may hire or pay someone else to help collect this Note if Borrower does not pay. Borrower will pay
Lender that amount. This includes, subject to any limits under applicable law, Lender's attorneys' fees and Lender's legal expenses, whether or
not there is a lawsuit, including without limitation all attorneys' fees and legal expenses for bankruptcy proceedings (including efforts to modify
or vacate any automatic stay or injunction), and appeals. If not prohibited by applicable law, Borrower also will pay any court costs, in addition
to all other sums provided by law.
JURY WAIVER. Lender and Borrower hereby waive the right to any jury trial in any action, proceeding, or counterclaim brought by either Lender
or Borrower against the other.
GOVERNING LAW. This Note will be governed by federal law applicable to Lender and, to the extent not preempted by federal law, the laws of
the State of Iowa without regard to its conflicts of law provisions. This Note has been accepted by Lender in the State of Iowa.
PROMISSORY NOTE
Loan No: 512001106475 (Continued) Page 2
COLLATERAL. Borrower acknowledges this Note is secured by INCLUDING BUT NOT LIMITED TO A REAL ESTATE MORTGAGE DATED
08/18/2022 FROM NIA NEIGHBORHOODS OPPORTUNITY ZONE FUND, LLC.
PURPOSE OF LOAN. The specific purpose of this loan is: Real Estate Purchase @ 1398 White Street, Dubuque.
IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT. To help the government fight the funding of terrorism and
money laundering activities, U.S. Federal law requires financial institutions to obtain, verify, and record information that identifies each person
(individuals and businesses) who opens an account. What this means for you: When you open an account, we will ask for your name, address,
date of birth and other information that will allow us to identify you. We may also ask for your driver's license or other identifying documents.
ESCROW PROVISION. IN THE EVENT THAT PROPERTY TAXES ARE NOT PAID IN A TIMELY MANNER THE BANK MAY REQUIRE AN ESCROW
ACCOUNT.
ERRORS AND OMISSIONS AGREEMENT. The undersigned Borrower, for and in consideration of Lender funding the closing of this loan, agrees
to the following terms and conditions:
1. If any loan document, including but not limited to the Note, Mortgage, Security Agreement, Assignment of Rents, and/or Business Loan
Agreement, is lost, misplaced, inaccurate, or missing signatures, Borrower agrees to execute, acknowledge, initial, and deliver to Lender any
item necessary to replace and/or correct the documents.
2. Borrower agrees to deliver the corrected loan documents within ten (10) days after receipt.
3. If Borrower fails or refuses to execute, acknowledge, initial, and or deliver the documents within ten (10) days after being requested to do so,
Borrower agrees to be liable for all costs which Lender sustains, including but not limited to all reasonable attorney fees.
The undersigned Borrower hereby agrees to comply with the terms and conditions of this agreement.
BORROWER FINANCIAL INFORMATION.
TAX RETURNS. BORROWER AGREES TO PROVIDE AS SOON AS AVAILABLE, BUT IN NO EVENT LATER THAN (30) DAYS AFTER THE
APPLICABLE FILING DATE FOR THE TAX REPORTING PERIOD ENDED, FEDERAL AND OTHER GOVERNMENTAL TAX RETURNS, PREPARED BY
TAX PROFESSIONAL SATISFACTORY TO LENDER.
PERSONAL FINANCIAL STATEMENTS. ALEX DIXON SR AND YINDRA COTMAN-DIXON WILL PROVIDE ANNUAL PERSONAL FINANCIAL
STATEMENTS WITHIN (90) DAYS OF THE ANNIVERSARY DATE OF THE EXISTING FINANCIAL STATEMENT.
RENT ROLLS. AS SOON AS AVAILABLE, BUT IN NO EVENT LATER THAN (45) DAYS AFTER THE END OF EACH CALENDAR YEAR, NIA
NEIGHBORHOODS OPPORTUNITY ZONE FUND, LLC'S RENT ROLLS, PREPARED BY NIA NEIGHBORHOODS OPPORTUNITY ZONE FUND, LLC.
SUCCESSOR INTERESTS. The terms of this Note shall be binding upon Borrower, and upon Borrower's heirs, personal representatives,
successors and assigns, and shall inure to the benefit of Lender and its successors and assigns.
GENERAL PROVISIONS. If any part of this Note cannot be enforced, this fact will not affect the rest of the Note. Lender may delay or forgo
enforcing any of its rights or remedies under this Note without losing them. Each Borrower understands and agrees that, with or without notice
to Borrower, Lender may with respect to any other Borrower (a) make one or more additional secured or unsecured loans or otherwise extend
additional credit; (b) alter, compromise, renew, extend, accelerate, or otherwise change one or more times the time for payment or other terms
of any indebtedness, including increases and decreases of the rate of interest on the indebtedness; (c) exchange, enforce, waive, subordinate,
fail or decide not to perfect, and release any security, with or without the substitution of new collateral; (d) apply such security and direct the
order or manner of sale thereof, including without limitation, any non -judicial sale permitted by the terms of the controlling security agreements,
as Lender in its discretion may determine; (e) release, substitute, agree not to sue, or deal with any one or more of Borrower's sureties,
endorsers, or other guarantors on any terms or in any manner Lender may choose; and (f) determine how, when and what application of
payments and credits shall be made on any other indebtedness owing by such other Borrower. Borrower and any other person who signs,
guarantees or endorses this Note, to the extent allowed by law, waive presentment, demand for payment, and notice of dishonor. Upon any
change in the terms of this Note, and unless otherwise expressly stated in writing, no party who signs this Note, whether as maker, guarantor,
accommodation maker or endorser, shall be released from liability. All such parties agree that Lender may renew or extend (repeatedly and for
any length of time) this loan or release any party or guarantor or collateral; or impair, fail to realize upon or perfect Lender's security interest in
the collateral; and take any other action deemed necessary by Lender without the consent of or notice to anyone. All such parties also agree
that Lender may modify this loan without the consent of or notice to anyone other than the party with whom the modification is made. The
obligations under this Note are joint and several.
PRIOR TO SIGNING THIS NOTE, EACH BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS OF THIS NOTE. EACH BORROWER
AGREES TO THE TERMS OF THE NOTE.
BORROWER ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THIS PROMISSORY NOTE AND ALL OTHER DOCUMENTS RELATING TO
THIS DEBT.
BORROWER:
X
-4-L-EX-DIXOff 7idu
NIA NEIGH RHOODS OPPORTUNITY ZONE FUND, LLC
By.
LEX DIXON SR, ember oflft NEIGHBORHOODS
OPPORTUNITY ZONE FUND, LLC
LENDER:
DUBUQUE BANK AND TRUST COMPANY
X
Authorized Signer
X
oa__�
YINDFIrITMAN-111WON, Incrividually
By: ,
YINDRA OTMAN- O ager of NIA
NEIGHB R OODS OMIGMUNITY ZONE FUND, LLC
LaserPrd, Ve 21.3.11.993 Cop,. Fi,unra USA C,wradon 1997, 2022. All Rght, Reserved. - IA C:LLa Pr,\CFKPLMn FC T 1]68]6 PR-6
NOTICE OF FINAL AGREEMENT
..........................................................._......_ .._ .................
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.
References in the boxes above are for Lender's use only and do not limit the applicability of this document to any particular loan or item.
Any item above containing """' has been omitted due to text length limitations.
Borrower: ALEX DIXON SR; YINDRA COTMAN-DIXON; and
NIA NEIGHBORHOODS OPPORTUNITY ZONE
FUND, LLC
251 HIDDEN OAKS CT
DUBUQUE, IA 52003
Lender: DUBUQUE BANK AND TRUST COMPANY
MAIN BANK
1398 CENTRAL AVE
PO BOX 778
DUBUQUE, IA 52004-0778
(563) 589-2000
IMPORTANT: READ BEFORE SIGNING. THE TERMS OF THE LOAN AGREEMENT SHOULD BE READ
CAREFULLY BECAUSE ONLY THOSE TERMS IN WRITING ARE ENFORCEABLE. NO OTHER TERMS OR ORAL
PROMISES NOT CONTAINED IN THE WRITTEN LOAN AGREEMENT MAY BE LEGALLY ENFORCED. PARTIES
MAY CHANGE THE TERMS OF THE LOAN AGREEMENT ONLY BY ANOTHER WRITTEN AGREEMENT.
As used in this Notice, the following terms have the following meanings:
Loan. The term "Loan" means the following described loan: a Fixed Rate (4.950%) Nondisclosable Loan to two Individuals and a
Limited Liability Company for $84,000.00 due on August 18, 2027.
Loan Agreement. The term "Loan Agreement" means one or more promises, promissory notes, agreements, undertakings, security
agreements, deeds of trust or other documents, or commitments, or any combination of those actions or documents, relating to the
Loan, including without limitation the following:
Promissory Note
Agreement to Provide Insurance
Notice of Insurance Requirements
Notice of Final Agreement
LOAN DOCUMENTS
- IA Mortgage for Real Property located at 1398 WHITE STREET,
DUBUQUE, IA 52001
Disbursement Request and Authorization
Loan Cover Sheet
Parties. The term "Parties" means DUBUQUE BANK AND TRUST COMPANY and any and all entities or individuals who are
obligated to repay the loan or have pledged property as security for the Loan, including without limitation the following:
Borrower: ALEX DIXON SR; YINDRA COTMAN-DIXON; and NIA NEIGHBORHOODS OPPORTUNITY ZONE FUND, LLC
Grantor(s): NIA NEIGHBORHOODS OPPORTUNITY ZONE FUND, LLC
Each Party who signs below, other than DUBUQUE BANK AND TRUST COMPANY, acknowledges, represents, and warrants to DUBUQUE
BANK AND TRUST COMPANY that it has received, read and understood this Notice of Final Agreement. This Notice is dated August 18,
2022.
BORROWER:
X
LE ON SR, Individually
NIA NEIG ORHOODS OPPORT NITY ZONE FUND, LLC
By:
DIXON , Me er o A NEIGHBORHOODS
OPPORTUNVTY ZONE FUND, LLC
LENDER:
DUBUQUE BANK AND TRUST COMPANY
X
6n 4 e, ! 2,- ( i —�, —
Authorize igner
X
�-
YINDRVTMAN-94XW, Indi dually
By: �/ ;��7)
YINDR OTMAN- ager of NIA
NEIGH OR OODS OPPORTUNITY ZONE FUND, LLC
LasarPro, V., 21.3.11.003 Cop, Flnasl,a USA C,,po,plipn 1997. 2022. All Rights Re —d. - IA G:LLas" .\C—PL\121.FC TR-1)49]6 PR-6
DuBuou BANK
March 24, 2023
Alex Dixon, Yindra Cotman-Dixon, and NIA Neighborhood Opportunity Zone Fund
251 Hidden Oaks Ct.
Dubuque, IA 52003
RE: Letter of Support for Financing
To Whom it May Concern,
This letter is intended to confirm that Alex Dixon, Yindra Cotman-Dixon, and NIA Neighborhood
Opportunity Zone Fund have conditional support from Dubuque Bank & Trust for the renovation of
property located at 1398 White Street in Dubuque, IA 52001. Final approval for fmancing is subject to
full underwriting approval, appraisal, title search, and any other pre -closing due diligence Dubuque Bank
& Trust deems necessary. If you have any questions, please don't hesitate to contact me directly at the
information below.
Best regards,
Nicholas Patrum
Commercial Team Lead, SVP
Dubuque Bank & Trust
(563) 589-2074
npatrum@dubuquebank.com
1398 Central Avenue, P.O. Box 778 1 Dubuque, Iowa52004-0778 I P563.589.2000 1=563.589.21841800.397.2000 1
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5 ,
amuft
Room
10' 1 " x 17'4"
Room
94 sgft
Garage
23'2" x 23'8"
Room
13' 1 " x 17'4"
Room
23'2" x 14'10"
Room
19'6" x 11'2"
Room
79 sgft
Up
2 X
7T
cM
AS -BUILT DRAWINGS
1398 White Street
Dubuque, Iowa 52001
Room
Bedroom
11'8" x 17'4"
11'6" x 17'4"
Closet
0
Bath
53 sgft
Kitchen
424 sqft
Laundry
35 sgft
W/D
00
00
Down
Bath �}
• Kitchen
7'6" x 6'9' _--
13'0" x 117'
3'1"x5'10'
7'9" x 3'2„
i
Room
13'0" x 137'
Bedroom
1 0'2" x 11'1"
FIRST FLOOR
SECOND FLOOR
13'10 1
04 M
11 19'6
8
A A P
mks
WIN
m M��
THE C
DUUB-*TE
Masterpiece on the Mississippi
Zoning Advisory
Commission
❑ Amended PUD
❑ Rezoning/PUD/ID
❑ Text Amendment
❑ Simple Subdivision
❑ Preliminary Plat
❑ Major Final Plat
❑ Minor Final Plat
❑ Waiver from Site
Design Standards
A. Property Information
Zoning Board of
Adiustment
❑ Conditional Use Permit
❑ Special Exception
® Variance
❑ Appeal
Development Services
❑ Annexation
❑ Limited Setback Waiver
❑ Site Plan Simple
❑ Site Plan Minor
❑ Site Plan Major
❑ Simple Subdivision
❑ Temporary Use Permit
❑ Port of Dubuque/
Chaplain Schmitt Island
Design Review
Site Location/Address:1398 White Street
Legal Description/Parcel ID#/Subdivision: 1024429001
City of Dubuque
Planning Services Department
Dubuque, IA 52001-4845
Phone: 563-589-4210
Fax: 563-589-4221
plannina(d)cityofdubuque.org
Historic Preservation Commission
❑ Demolition Review
❑ Historic Revolving Loan
❑ Certificate of Economic Non -Viability
❑ Design Review Certificate of
Appropriateness
❑ Advisory Design Review (Public
Projects)
❑ Historic Designation
Existing Zoning: C-4 Proposed Zoning: Site Area (square feet/acres):
Historic District:
-andmark: ❑ Yes ® No
B. Describe proposal and reason for application (attach a letter of explanation, if necessary):
To create a residential unit on the first floor where residential use is permitted above the first floor only in a C-4
Downtown Commercial zoning district.
C. Applicant/Agent Information
Name: Yindra Dixon
Address: 251 Hidden Oaks Ct
State: IA
Zip: 52003
D. Property Owner(s) Information
Phone: 702-286-0788
City: Dubuque
Email: yindra@blackboxnv.com
Name(s): Nia Neighborhoods Opportunity Zone Fund LLC
Address: 251 Hidden Oaks Ct
State: IA Zip:52003
Phone: 563-845-2730
City: Dubuque
Email: niaozfund@gmail.com
E. Certification: I/we, the undersigned, do hereby certify/acknowledge that:
1. Payment does not guarantee approval and fees are nonrefundable;
2. All additional required written and graphic materials are attached;
3. It is the property owner's responsibility to locate property lines and to review the abstract for easements and restrictive
covenants; and
4. The information submitted herein is true and correct to the best of my/our knowledge and upon submittal becomes
public record. �--
Applicant/Agent: \� Date: 03/07/2023
Property owner(s): 1 Date: 03/07/2023
Fee $ Ck# ❑CC ❑Cash Received by Date
15-11.9 C-4 Downtown Commercial District
W,
THE CITY OF
DUB E
Masterpiece on the Mississippi
March 28, 2023
Nia Neighborhoods Opportunity Zone Fund LLC
Attn: Yindra Dixon
251 Hidden Oaks Ct
Dubuque, IA 52003
Dubuque
All -America C'�
M14-NA1,7z:
2007*2012*2013
2017*2019
Economic Development
Department
1300 Main Street
Dubuque, Iowa 52001-4763
Office (563) 589-4393
TTY (563) 690-6678
http://www.cityofdubuque.org
RE: Offer for Downtown Rehabilitation Grant Program — 1398 White Street, Dubuque, IA
Dear Ms. Dixon,
I am pleased to inform you that your application to the Downtown Rehabilitation Grant Program
(Fagade, Planning & Design, and Financial Consultant Grant) for your building renovation project
at 1398 White Street has been approved, subject to the terms set forth in this Offer and
subsequent Grant Agreement.
The following Offer is made:
Source of Funds: Downtown Rehabilitation Grant Program
Estimated Total Project Costs: $170,000.00
Amount of Offer: $10,000.00 maximum Fagade
$10,000.00 maximum Planning & Design
$15,000.00 maximum Financial Consultant
Purpose of the Grant: To improve the exterior and interior of the building
by creating 2 affordable rental residential units and
a first -floor commercial space (collectively, the
Project), including the scope provided in the
attached application and pending Design Letter
Conditions of this Offer:
1. Project plans must be approved by May 1, 2023.
2. Project must be completed by December 31, 2023.
3. Project work must conform to all requirements as outlined in the Design Letter
accompanying the Grant Agreement. Failure to comply with all requirements will result in
a forfeiture of all funds committed herein.
4. Grants will be disbursed upon completion of work, documentation of eligible expenses,
and an inspection of the completed Project by representatives of the Inspection and
Construction Services Department and/or Planning Department. Determination of whether
the Project is complete will be made by City in its sole discretion. Expenses will be
reimbursed at a rate of Fifty Cents ($0.50) for each One Dollar ($1.00) of costs incurred
within the scope of the approved Project application, up to the maximum indicated above.
5. The Project is to be completed in accordance with the regulations set forth for the City of
Dubuque's Downtown Rehabilitation Grant Program, attached hereto. All exterior
improvements must also conform with the Design Letter accompanying the Agreement.
This Offer is valid for thirty (30) days from the date of this letter. If you wish to accept the Offer,
you must return this letter with your signature and date. Failure to return this signed letter will be
cause for this Offer to lapse. Our office will begin to draft an Agreement once you have accepted
the Offer and Project plans have been approved.
If you have any questions regarding the conditions of this Offer, please contact me at (563) 589-
4213.
Sincerely,
Jill M. Connors
Economic Development Director
I have reviewed the above Offer and accept all the terms of this commitment letter.
Date
2
THE CITY OF
DUB E
Masterpiece on the Mississippi
March 28, 2023
Iowa Economic Development Authority
1963 Bell Avenue, Suite 200
Des Moines, Iowa 50315
Dubuque
Economic Development
Department
1300 Main Street
AIFAmeMpCity
Dubuque, Iowa 52001-4763
Office (563) 589-4393
TTY (563) 690-6678
http://www.cityofdubuque.org
2007-2012-2013
2017*2019
RE: Community Catalyst Building Remediation Program Grant for 1398 White Street
I am writing to express the City of Dubuque, Iowa's support for the application to the Iowa
Economic Development Authority for a Community Catalyst Building Remediation
Program Grant on behalf of Nia Neighborhoods Opportunity Zone Fund, LLC.
Representatives of the City Council, and City department officials who may be
responsible for inspection of project property have reviewed the project proposal.
The City further agrees that all historically significant properties submitted for
consideration in this application will comply with the Secretary of Interior's Standards for
historic property rehabilitation.
�adlm. CiVi7agh,Mayor
Yindra T. Dixon,
Nia eighborhoods Opportunity
Zone Fund, LLC