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Platting of City Property along East Fifth Street and Bell Street in the Port of Dubuque for McCoy Group, Inc. Development Agreement Copyrighted August 21, 2023 City of Dubuque Action Items # 05. City Council Meeting ITEM TITLE: Platting of City Property along East Fifth Street and Bell Street in the Port of Dubuque for McCoy Group, Inc. DevelopmentAgreement SUM MARY: City Manager recommending City Council approval of the Plat of Survey for Lot 1-1 and Lot 2-1 of Riverwalk Ninth Addition, in the City of Dubuque, Dubuque County, lowa pursuant to a DevelopmentAgreement with McCoy Group Inc. RESOLUTION Approving Plat of Survey of Lot 1-1 and 2-1 of Riverwalk Ninth Addition, in the City of Dubuque, Dubuque County, lowa SUGGESTED Suggested Disposition: Receive and File;Adopt Resolution(s) DISPOSITION: ATTACHMENTS: Description Type MVM Memo City Manager Memo Staff Memo Staff Memo Resolution Resolutions Plat of Survey Supporting Documentation Development Agreement with McCoy Supporting Documentation Dubuque THE CITY QF � All-Meriea Ciry DLT B E ; . � . � �� MaSt� Z�C� aYd t�Q Mt55ZSSZ Z zoa�•zoiz•�ai3 YP pp za��*zai� TO: The Honorable Mayor and City Council Members FROM: Michael C. Van Milligen, City Manager SUBJECT: Platting of City Property along East Fifth Street and Bell Street in the Port of Dubuque (McCoy Group Inc. Development Agreement) DATE: August 15, 2023 City Engineer Gus Psihoyos is recommending City Council approval of the Plat of Survey for Lot 1-1 and Lot 2-1 of Riverwalk Ninth Addition, in the City of Dubuque, Dubuque County, lowa pursuant to a Development Agreement with McCoy Group Inc. In June of this year the McCoy Group purchased the former McGraw Hill building and property at 501 Bell Street in the Port of Dubuque for its corporate headquarters. Per Resolution No. 198-23, the City of Dubuque and McCoy Group Inc. entered into a development agreement providing for the sale of City-owned real estate adjacent to the McCoy Group property. The agreement provides for the sale of the existing parking lot area to the north of the building and property at 501 Bell Street to accommodate parking for the McCoy Group employees. 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 Gus Psihoyos, City Engineer Nate Kieffer, PLS Rick Dickinson, Greater Dubuque Development Corporation President and CEO Dubuque THE CITY OF � All•pn�eriea Ci� D y i/ L 4;I1�NWLQ�N:1 Fn.J.F 1 � I � I' MAste 12CE 01Z t�1e MiS81SS1 1 zoo�•zoiz=zois �P pp �oi�*zot9 TO: Michael C. Van Milligen, City Manager FROM: Gus Psihoyos, City Engineer DATE: August 11, 2023 RE: Platting of City Property along East Fifth Street and Bell Street in the Port of Dubuque (McCoy Group Inc. Development Agreement) INTRODUCTION This memorandum is a request for approval of the Plat of Survey for Lot 1-1 and Lot 2-1 of Riverwalk Ninth Addition, in the City of Dubuque, Dubuque County, lowa pursuant to a Development Agreement with McCoy Group Inc. BACKGROUND In June of this year the McCoy Group purchased the former McGraw Hill building and property at 501 Bell Street in the Port of Dubuque for its corporate headquarters. Per Resolution No. 198-23, the City of Dubuque and McCoy Group Inc. entered into a development agreement providing for the sale of City-owned real estate adjacent to the McCoy Group property. The agreement provides for the sale of the existing parking lot area to the north of the building and property at 501 Bell Street to accommodate parking for the McCoy Group employees. DISCUSSION In accordance with the Development Agreement, the existing parking lot property needs to be divided via a simple division plat. The platting of the parking lot area has been coordinated with the McCoy Group and their representatives. The City of Dubuque Engineering Department has prepared the attached simple division plat. Lot 1-2 of Riverwalk Ninth Addition, being 0.653 acres in size, will be conveyed to the McCoy Group pursuant to said Development Agreement. Per the Development Agreement, the plat includes the dedication of an ingress and egress easement over the remaining City property to allow access to and from the subject McCoy Group lot to the Bell Street right of way. RECOMMENDATION It is recommended that the Plat of Survey of Lot 1-1 and Lot 2-1 of Riverwalk Ninth Addition, in the City of Dubuque, Dubuque County, lowa be approved and signed by the Mayor and City Clerk to create a lot division for the purposes described above. ACTION TO BE TAKEN I respectFully request approval of the Plat of Survey of Lot 1-1 and Lot 2-1 of Riverwalk Ninth Addition, in the City of Dubuque, Dubuque County, lowa through the adoption of the enclosed resolution. Prepared by: Nate Kieffer, PLS Prepared by: Nate Kieffer, City of Dubuque, 50 W. 13th Street, Dubuque, IA 52001 (563)589-4270 Return to: Nate Kieffer, City of Dubuque, 50 W. 13th Street, Dubuque, IA 52001 (563)589-4270 RESOLUTION NO. 280-23 APPROVING PLAT OF SURVEY OF LOT 1-1 AND 2-1 OF RIVERWALK NINTH ADDITION, IN THE CITY OF DUBUQUE, DUBUQUE COUNTY, IOWA Whereas, there has been presented to the City Council of the City of Dubuque, Iowa, a plat dated the 8th day of August 2023, prepared by The City of Dubuque Engineering Department, re-platting Lot 1 of Riverwalk Ninth Addition, to be hereinafter known as Lot 1-1 and Lot 2-1 of Riverwalk Ninth Addition, in the City of Dubuque, Dubuque County, Iowa; and Whereas, said plat conforms to the laws and statutes pertaining thereto. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DUBUQUE, IOWA: Section 1 . That the plat dated the 8th day of August 2023, prepared by The City of Dubuque Engineering Department relative to the real estate hereinabove described be and the same is hereby approved, and the Mayor and City Clerk be and they are hereby authorized and directed to execute said plat for and on behalf of the City of Dubuque, Iowa. Section 2. That the City Clerk be and is hereby authorized and directed to file said plat and certified copy of this resolution in the office of the Recorder in and for Dubuque County, Iowa. Passed, approved, and adopted this 21st day of August 2023. Brad M avanagh, Mayor Attest: Trish L. Gleason, Assistant City Clerk Page 1 of 1 INDEX LEGEND: Reserved for Recorder LOCATION: LOT 1 OF RIVERWALK NINTH ADDITION, IN THE CITY OF DUBUQUE, DUBUQUE COUNTY, IOWA REQUESTOR: CITY OF DUBUQUE PROPRIETOR: CITY OF DUBUQUE SURVEYOR: RUSSELL N. KIEFFER SURVEYOR COMPANY: CITY OF DUBUQUE RETURN TO: RUSSELL N. KIEFFER CITY OF DUBUQUE 50 WEST 13TH ST., DUBUQUE, IOWA 52001 1111111111111 1111111111111111111 I II 11111111111111111111111 Doc ID: 011138470007 Type: GEN Kind: SURVEY PLAT Recorded: 08/30/2023 at 08:36:13 AM Fee Amt: $37.00 Pape 1 of 7 Dubuque County Iowa Karol Kennedy Recorder Fiie2023-00008289 Prepared By: City of Dubuque Address: 50 West 13 PLAT OF SURVEY LOT 1-1 AND LOT 2-1 OF RIVERWALK NINTH ADDITION, IN THE CITY OF DUBUQUE, DUBUQUE COUNTY, IOWA COMPRISED OF: LOT 1 OF RIVERWALK NINTH ADDITION, IN THE CITY OF DUBUQUE, DUBUQUE COUNTY, IOWA NOTE: THIS SURVEY IS LOCATED IN THE NORTH 1/2 SECTION 30 & SOUTH 1 /2 SECTION 19, T89N. R3E (JULIEN TOWNSHIP) OF THE 5TH P.M., IN THE CITY OF DUBUQUE. DUBUQUE COUNTY, IOWA NOTES: LOT 2 OF RIVERWALK 9TH ADDITION PER DOC. # 2010-12178 LOT 1-1 5.535 AC. LOT 1 OF RIVERWALK 9TH ADDITION PER DOC. # 2010-12178 EXIST. NY NSRISBW EASEMENT, $"q Sr-//c' / 35\ \ \ y o,. '8o W / • 'rF FTri?O ST21 10E/ ' T1sE/ h St., Dubuque, IA 52001 Ph:563-589-4270 c ccvpRgi4Ro o\ q o�\_ NORTH 0 50' 100' 200' SCALE1"=100'FEET ELe nils'Wlry,' �1'. CT EASEMENT /',P\ LOT 1 OF RIVERWALK 9TH ADDITION PER DOC. # 2010.12178 SET CUT'%' IN CONCRETE NM'. 39' 33'W 9.91 FOUND ler OFFSET WITNESS MONUMENTS PER DOC, a 170 N4 C1APS 858° 41' 12.E 3909' (558. 38' 55•E 39.01') LOT 1 OF 1 RIVERWALK 6TH ADDITION PER DOC. # 2006-9265 1. ALL MEASUREMENTS ARE IN FEET AND DECIMALS THEREOF. 2. PROPRIETOR: CITY OF DUBUQUE, 50 WEST 13TH ST. DUBUQUE IOWA 3. SURVEY REQUESTED BY: CITY OF DUBUQUE 4. TOTAL AREA OF PERIMETER SURVEYED IS 6.188 ACRES 5. THIS PLAT IS SUBJECT TO ALL EASEMENTS OF RECORD AND NOT OF RECORD. 6. DATE OF SURVEY: 07-10-2023 9 47�S.) �f I hereby rsnify tllIt INs land surveying document was prepared and to related survey work was performed by me or under my direct personal supervision and that I am a duly licensed Land Surveyor under he laws of the Stale of Iowa. For The City or Dubuque -V r ' 1 Russell N. Kiaier Iowa L'ic. No. 18128 Data My license renewal dale ls Decem08r31,2029 Pages or sheets covered dy el's seat THIS PAGE ONLY // 41 / �h' Q..• LOT 1 RIVERWALK 5TH ADDITION PER re' � DOC. # 2004-3974 y- �r <4\i m INGRESS/ EGRESS EASEMENT AREA TO BENEFIT LOT 2.1 PER THIS PLAT MST, tar WIDE ELECTRIC LINE EASEMENT N88. 15' 37•E 10.9V LOT 2-1.° 0.653 AC. 1 64. AN EASEMENT FOR FOR EXISTING UTILITIES 1 AND PROPERTY MAINTENANCEACTNITIES 1 Q ry TO BENEFIT THE CITY OF 1 $j DUBUQUE HEREBY VER E , "j N,�° RESERVED IS E S HERTHE IDS my ry� //y. 39. ENTIRETY OF LOT 2-1 �' y Noy 9' 1N 3Ty LOTIOFI RIVERWALK6TH A. ADDITION / 44i LOT 1-1 RIVERWALK9TH ADDITION LEGEND (NSB'38'S5'W t.B31 DETAIL -NO SCALE SET 5/8" REBAR WITH YELLOW PLASTIC CAP #18128 • FD. T-BAR WITH CAP 9761 OR AS NOTED ® FD. CUT "X" OR AS NOTED R.O.W. RIGHT OF WAY (100.00') RECORDED DIMENSION — — — — — EASEMENT LINE RIGHT OF WAY LINE (EXISTING) ADJACENT PROPERTY LINE LINE BREAK Dubuque 1" 11 111.7 2007 CITY OF DUBUQUE ENGINEERING DEPARTMENT CITY HALL, 50 WEST 13th STREET DUBUQUE, IA 52D01-4604 PHONE (563) 5(394270 FAX (563) 589-4205 060t Br RN I Appa+ed8): RN ID 01-10-2023 PLAT OF SURVEY LOT 1-1 AND LOT 2-1 OF RIVERWALK NINTH ADDITION c. N/A 54390: 1 0l 4 ® 370° DEG City Planning Page 1 of 1 Location: Proprietor: Requestor: Surveyor: Surveyor Company. Index Legend DUBUQUE INDUSTRAIL CENTER SOUTH (DIGS) LOT 2, DICS FIRST ADDITION LOT 2-3, DICS FIRST ADDITION LOT 2, BREHM ACRES PLAT 3 CITY OF DUBUQUE, IOWA SEIPPEL WAREHOUSE. LLC GRONEN JOHN M. TRANMER, PLS ORIGIN DESIGN CO., 137 MAIN STREET DUBUQUE, IOWA 52001 PHONE: (563)556-2464 11 IIIIIII IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII illlII Doc ID: 011138480010 Type: GEN Kind: SURVEY PLAT Recorded: 08/30/2023 at 08:40:46 AM Fee Amt: $52.00 Page 1 of 10 Dubuque County Iowa Karol Kennedy Recorder Fi1e2023-00008290 FOR RECORDER USE PLAT OF SURVEY LOT 1 & LOT A OF DUBUQUE INDUSTRIAL CENTER SOUTH FOURTH ADDITION IN THE CITY OF DUBUQUE, IOWA LINE TABLE LINE BEARING DISTANCE L1 L2 N18' 29' 18"E S2' 06' 11"E 33.09' 97.54' L3 S2' 06' 11"E 69.66' L4 S2' 06' 11"E 27.88' L5 S74' 12' 26"E 34.22' L6 N15' 47' 25"E 10.00' L7 N62' 33' 37"E 2.15' L8 S61' 47' 17"E 250.47' L9 S86' 22' 13"W 226.01' L10 N68' 04' 02"W 224.59' L11 N2' 06' 11"W 116.31' L12 N68' 17' 29"W 100.00' L13 N48' 31' 35"W 193.69' L14 N22' 14' 52"W 170.83' L15 N22' 14' 52"W 132.92' L16 N22' 14' 52"W 37.91' L17 N38' 15' 24"E 195.19' L18 N38' 15' 24"E 176.53' DATE OF SURVEY: JULY 10, 2023 TOTAL AREA SURVEYED: 18.61 ACRES SEE SHEETS 2 & 3 FOR PLAT DIMENSIONS AND ALL NEW (PROPOSED) & EXISTING EASEMENT LINES NQTE: THIS SURVEY IS SUBJECT TO EASEMENTS, RESERVATIONS, RESTRICTIONS AND RIGHTS -OF -WAY OF RECORD AND NOT OF RECORD. RECORD PLATS - DUBUQUE INDUSTRIAL CENTER SOUTH FIRST ADDITION FILE NO. 2014-1397 - LOT 1-3 & LOT 2-3 OF DUBUQUE INDUSTRIAL CENTER SOUTH FIRST ADDITION FILE NO. 2023-3824 - BREHM ACRES PLAT 3 FILE NO. 2023-2850 CURVE TABLE CURVE DISTANCE RADIUS DELTA CHORD BEARING CHORD DISTANCE C1 255.77' 740.82' 19' 46' 54" N28' 21' 57"E 254.50' C2 318.30' 773.82' 23' 34' 04" N26' 28' 22"E 316.06' C3 83.73' 325.00' 14' 45' 43" N23' 09' 32"E 83.50' C4 204.07' 250.00' 46' 46' 09" N39' 10' 32"E 198.45' C5 858.64' 1150.00' 42' 46' 47" S52' 33' 58"E 838.84' 00N wIIIl,,, o"`` \ 0 Wq JOHN M. TRANMER _ t = , LS 12631 �= L AND,,,````: I HEREBY CERTIFY THAT THIS LAND SURVEYING DOCUMENT WAS PREPAREDI AND THE RELATED SURVEY WORK WAS PERFORMED BY ME OR UNDER MY DIRECT PERSONAL SUPERVISION AND THAT I AM A DULY UCENSED LAND SURVEYOR UNDER THE LAWS OF THE STATE OF IOWA. FOR ORIGIN DESIGN CO. JOHN( M.'TRANMER UCENSE NO. 12631 MY LICENSE RENEWAL DATE IS 12/31/2024 PAGES OR SHEETS COVERED BY THIS SEAL SHEETS 1 THRU 4 origin design 800 556-4491 origindesignoom DRAWN JMT PLAT NO. 4-IA-23 PROJ. NO. 23037 SHEET 1 of 4 P:\23\037\DRAMINGS\SURVEY\23037 CHECKED GSB DATE 8-8-23 0 52°° DBQ City Planning SURVEYOR'S CERTIFICATE 1, Russell N. Kieffer, a Duly Licensed Land Surveyor in the State of Iowa, do hereby certify that the following real estate was surveyed and platted by me or under my direct personal supervision, To Wit: LOT 1 OF RIVERWALK NINTH ADDITION IN THE CITY OF DUBUQUE, DUBUQUE COUNTY, IOWA This survey was performed for the purposes of subdividing and platting said real estate henceforth to be known as Lot 1-1 and Lot 2-1 of Riverwalk Ninth Addition, in the City of Dubuque, Dubuque County, Iowa. Total area of Lot 1-1 and Lot 2-1 of Riverwalk Ninth Addition is 6.188 acres. Total area of Lot 1-1 is 5.535 acres. Total area of Lot 2-1 is 0.653 acres. All Lot areas are, more or less, and all Lots are subject to easements, reservations, restrictions, and rights-of-way of record and not of record, the plat of which is attached hereto and made part of this certificate. BY: 08 -.0 - 20 2-3 Russell N. Kieffer Date Licensed Land Surveyor License No. 18128 ,' -LANp"=; License Renewal Date: 12/31/2024 +SG • ;,tq • G RUKIEFFkRSSELL N. •:30 18128 , ti /OWA 2 OWNER'S CONSENT Dubuque, Iowa August 22- 2023 The foregoing Plat of Survey of: Lot 1-1 and Lot 2-1 of Riverwalk Ninth Addition, in the City of Dubuque, Dubuque County, Iowa, is made with the free consent and in accordance with the desires of the undersigned owners and proprietors of said real estate. By: B . Cavanagh, Mayor By: Trish L. Gleason, Assistant City Clerk State of Iowa ) ss: County of On this a'a, of day 0,t; u. -f- , A.D. 2023, before me, a Notary Public in and for the,,, County of Dubuque and Ste of Iowa, personally appeared Brad M. Cavanagh and Adrienne N-.. Breitfelder, to me personally known whoa being duly morn did say that the said Brad M. Cavanagh is Mayor and the said Adrienne N:Breitfelder is City Clerk of the City of Dubuque, Iowa, and that the seal affixed to the above instrument is the corporate seal of the City of Dubuque, Iowa, and that said instrument was signed and sealed on behalf of the said City of Dubuque, Iowa, by Vhority of the City Council of said city and the said Brad M. Cavanagh and Adrienne N. Brcitfeldct acknowledge the execution of said instrument to be the voluntary act and deed of said City of Dubuque, Iowa, by it voluntarily executed. A— Trish L Gleason, Assistant CityClerk ""t` °( Notary Public in the State of Iowa 14 ' `• U r Commission Mum i S42479 My Commission Expires 91 a j'ao ,„„— My Comm.Exp.`A 3dS 3 PLANNING SERVICES Dubuque, Iowa 8 , 2023 The foregoing Plat of Survey of Lot 1-1 and Lot 2-1 of Riverwalk Ninth Addition, in the City of Dubuque or within the two-mile jurisdiction of the City of Dubuque, Iowa, as defined under Section 354 of the Code of Iowa, has been reviewed by the City Planner, (or designee) of the City of DO, ue in accordance with Chapter 42 of the City of Dubuque Code of Ordinances, a d approv61 as be n endorsed herein on the date first written above. I e o , City Planne 1 ing Services Division City of Dubuque, Iowa CITY COUNCIL Dubuque, Iowa August 22- , 2023 The undersigned, Mayor and Clerk of the City of Dubuque, Iowa, do hereby certify that the foregoing Plat of Survey: Lot 1-1 and Lot 2-1 of Riverwalk Ninth Addition, in the City of Dubuque, Dubuque County, Iowa, has been filed in the office of the Clerk of the City of Dubuque, and that by Resolution No.280-23 , the Dubuque City Council approved said plat. rad M. Cavanagh Ma o the City of Dubuque Trish L. Gleason Adrienne iV Rreitfelder Assistant C i ty Clerk of the City of Dubuque 4 � � I COUNTY AUDITOR I' Dubuque, lowa , 2023 � The foregoing Plat of Survey of: Lot 1-1 and Lot 2-7 of Riverwalk Ninth Addition, in the City of Dubuque, Dubuque County, lowa was entered of record in the office of the Dubuque County Auditor this of , 2023. We approve the subdivision name or title to be recorded. � j Kevin Dragotto Dubuque County Auditar ' i CITY ASSESSOR Dubuque, lowa , 2023 i The foregoing Plat of Survey of: Lot 1-1 and Lot 2-1 of Riverwalk Ninth Addition, in the City of Dubuque, ; Dubuque County, lowa was entered of record in the office of the City Assessor of the City of Dubuque, lowa, this of , 2023. i i i Troy Patzner Dubuque City Assessor RECORDER'S CERTIFICATE i Dubuque, lowa , 2023 I The foregoing Plat of Survey of: Lot 7-7 and Lot 2-7 of Riverwalk Ninth Addition, in the City of Dubuque, ' i Dubuque County, lowa, has been reviewed by the Dubuque County Recorder. ! � Karol Kennedy ' Recorder of Dubuque County, lowa � �' i, Ili I I I 5 Dubuque TxE erT�r o� � �II-Meriea Ciry DU B E , . � . , I� � I �aSt� I�C� �tZ �� liV�tSSZSSZ Z zoa�•zoiz•zai3 YP �'p za��*�az� TO: The Honorable Mayor and City Council Members FROM: Michael C. Van Milligen, City Manager SUBJECT: Resolution Approving the Development Agreement by and between the City of Dubuque, lowa and McCoy Group, Inc. LLC Providing for the Sale of City-owned Real Estate to McCoy Group, Inc. and the Issuance of Urban Renewal Tax Increment Revenue Grant Obligations Pursuant to the Development Agreement DATE: June 14, 2023 Economic Development Director Jill Connors is recommending City Council adopt a resolution approving a proposed Development Agreement by and between the City of Dubuque, lowa and McCoy Group, Inc. providing for the sale of City-owned real estate in Greater powntown Urban Renewal District to McCoy Group, Inc. and the issuance of Urban Renewal Tax Increment Revenue Grant Obligations. The McCoy Group is a private family-owned company started in 1958. McCoy Group, Inc. is the parent company of Foodliner, Quest Liner, Truck Country and McCoy Construction & Forestry (John Deere Construction & Forestry Dealerships). McCoy Group customer base is nationwide and in Mexico. Its customer base includes, ADM, Ingredion, Cargill, KMG, General Mills, Walmart, Heartland Express, CRST, Dow, Coca-Cola, Pepsi, and the United States Air Force, to name a few. McCoy Group, Inc. employs 3,833 people nationwide with 351 of those jobs located in Dubuque. Subject to State of lowa and City of Dubuque approval, McCoy Group, Inc. is proposing to purchase the building at 501 Bell Street for its corporate headquarters. The project would also include the sale of City-owned property to accommodate parking for McCoy Group employees. McCoy Group will have exclusive access to the parking area Monday — Friday from 6:00 AM to 6:00 PM, except holidays. Outside of those hours, the parking area is open to the public. The project is anticipated to begin shortly after the finalization of the Development Agreement. In addition to the physical improvements, McCoy Group, Inc. is proposing to create eighteen (18) new jobs with this expansion, all of which are considered high quality jobs by the lowa Economic Development Authority. The key elements of the Development Agreement include the following: 1. The Developer must purchase an office facility located at 501 Bell Street. 2. McCoy Group, Inc. must maintain its existing 248 FTE and create 18 new full time equivalent jobs at the new facility by October 1, 2026. The 266 full time equivalent jobs must be maintained through the term of the Development Agreement. 3. McCoy Group, Inc. will receive 10 years of years of tax increment financing incentives in the form of semi-annual rebates. These incentives are calculated in relation to the number of jobs committed in the Development Agreement. Tax increment financing incentives are estimated to not exceed $ 276,444. 4. City of Dubuque will sell approximately 0.7 acres of parking property to McCoy Group, Inc. for $1,100,000. 5. City of Dubuque will amend the Greater powntown Urban Renewal District Plan to accommodate the issuance of tax increment financing incentives. In accordance with lowa Code, a notice was published on May 19, 2023, allowing for competitive bidding for the disposal of City-owned property in an urban renewal area. No proposals were received by City staff as of the posted deadline of June 16th at 10:00 a.m. 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 2 Dubuque Economic Development THE CITY OF � oepartrnent 50 West 13th Street All•America'�11y Dubuque,lowa 52001-4864 .;,�x�,,, �n�k �t�,�:�� OfflCe(563)589-4393 �� ht p�//www�.�Cityofdubuque.org 2007•2Q 12�2013 Masterpiece on the Mississippi Zoi�*zoig TO: Michael C. Van Milligen, City Manager FROM: Jill M. Connors, Economic Development Director SUBJECT: Resolution Approving the Development Agreement by and between the City of Dubuque, lowa and McCoy Group, Inc. LLC Providing for the Sale of City-owned Real Estate to McCoy Group, Inc. and the Issuance of Urban Renewal Tax Increment Revenue Grant Obligations Pursuant to the Development Agreement DATE: June 16, 2023 INTRODUCTION This memorandum is a request for the City Council to adopt the attached resolution approving a proposed Development Agreement by and between the City of Dubuque, lowa and McCoy Group, Inc. and the City of Dubuque providing for the sale of City- owned real estate in Greater powntown Urban Renewal District to McCoy Group, Inc. and the issuance of Urban Renewal Tax Increment Revenue Grant Obligations. BACKGROUND The McCoy Group is a private family-owned company started in 1958. McCoy Group, Inc. is the parent company of Foodliner (Food grade bulk hauler), Quest Liner (Non- Food grade bulk hauler), Truck Country (Freightliner and Western Star Truck Dealerships) and McCoy Construction & Forestry (John Deere Construction & Forestry Dealerships). Customer base is nationwide and in Mexico. Its customer base includes, ADM, Ingredion, Cargill, KMG, General Mills, Walmart, Heartland Express, CRST, Dow, Coca-Cola, Pepsi, and the United States Air Force, to name a few. McCoy Group, Inc. employs 3,833 people nationwide (including parent company, subsidiaries, and other affiliated entities), with 351 of those jobs located in Dubuque. DISCUSSION Subject to State of lowa and City of Dubuque approval, McCoy Group, Inc. is proposing to purchase the building at 501 Bell Street for its corporate headquarters. The project would also include the sale of City-owned property to accommodate parking for McCoy Group employees. McCoy Group will have exclusive access to the parking area Monday — Friday from 6:00 AM to 6:00 PM, except holidays. Outside of those hours, the parking area is open to the public. The project is anticipated to begin shortly after the finalization of the Development Agreement. In addition to the physical improvements, McCoy Group, Inc. is proposing to create eighteen (18) new jobs with this expansion, all of which are considered high quality jobs by the lowa Economic Development Authority. The key elements of the Development Agreement include the following: 1. The Developer must purchase an office facility located at 501 Bell Street. 2. McCoy Group, Inc. must maintain its existing 248 FTE and create 18 new full time equivalent jobs at the new facility by October 1, 2026. The 266 full time equivalent jobs must be maintained through the term of the Development Agreement. 3. McCoy Group, Inc. will receive 10 years of years of tax increment financing incentives in the form of semi-annual rebates. These incentives are calculated in relation to the number of jobs committed in the Development Agreement. Tax increment financing incentives are estimated to not exceed $276,444. 4. City of Dubuque will sell approximately 0.7 acres of parking property to McCoy Group, Inc. for $1,100,000. 5. City of Dubuque will amend the Greater powntown Urban Renewal District Plan to accommodate the issuance of tax increment financing incentives. lowa Code § 403.8(2)(a) provides that a municipality may dispose of real property in an urban renewal area to private persons only under reasonable "competitive bidding procedures." A municipality, by public notice by publication in a newspaper having a general circulation in the community, thirty days prior to the execution of a contract to sell, lease or otherwise transfer real property, and prior to the delivery of an instrument of conveyance with respect to the real property, may invite proposals from and make available all pertinent information to any persons interested in undertaking to redevelop or rehabilitate an urban renewal area, or a part of the area. The municipality may accept the proposal it deems to be in the public interest and in furtherance of the purposes of the urban renewal law. However, a notification of intention to accept the proposal must be filed with the governing body not less than thirty days prior to the acceptance. 2 Thereafter, the municipality may execute a contract and may deliver deeds, leases and other instruments and may take all steps necessary to effectuate the contract. This notice was published on May 19, 2023. No proposals were received by City staff as of June 16th at 10:00 a.m. RECOMMENDATION/ ACTION STEP I recommend that following the public hearing, the City Council adopt the attached resolution approving the Development Agreement providing for the sale of City-owned property and the issuance of Urban Renewal Tax Increment Revenue Grant Obligations. 3 DEVELOPMENT AGREEMENT BY AND BETW�EN THE CITY 4F ❑UBUQUE, iOWA, AND MCGDY GROUP, INC. � ;� This Developm�nt Agreement, dated fo� reference purposes the v��n day of ,_};_1.�n� , 2023, by and between the City of Dubuque, lowa, a mUnicipality (City), established pursuant to the lowa Code and acting under aut�orization of lowa Code Chapter 403, as amended (Urban Renewal Act) ar�c� McCoy Group, [nc., a Wisconsin corporation with its pri�cipal place of business in Dubuque, [owa, or its Assignee (Develaper). WITNESSETH: WHEREAS, in furthe�ance of tf�e objecti�es of the Urban Renewal Act, Gity has �ndertaken an Urban Renewal Project as described herein to advance the community's ongoing economic de�elopment efforts; and WHEREAS, the Property is lacated in the Greater powntown Urban Renewal District (the District) which has been so designated by City Cour�cil Resolution 'I54-20 as a slum and blighked area {the Project Area) defined by lowa Code Chapter 403 (the Urban Renewal Law); and WHEREAS, De�eloper has determined t�at it requires a new central office facility to maintain and expand its operations and emplayment in tl�e Project Area (the FacilEty}; and WHEREAS, Developer or a wholly owned or confrolled affiliated entity of De�eloper ("Affiliatels") is or will be the owner of the following described real estate: LOT 1-1 RIVERVIIALK 6TH ADDITION, locally known as 501 Bell Street; {the Property}; and WHEREAS, Developer has requested that Ci#y sell to �eveloper or its Affiliate the parE�ing lot adjacent to the Property (the Parking Praperty) shown on Exhibit "F;" and WHEREAS, De�eloper ar its Affiliatels wFll occupy the bui�ding on the Property and employ emplayees as pro�idec! herein; and WHEREAS, De�eloper or its Affiliatels will make a capital in�estment in building impravements, equipment, furniture and fixtures in ti�e Facility, al{ o�fi the foregoing referred to herein as the Project; and WHEREAS, pursuant to lowa Code Section 403.6(1}, and in conformance with t#�e 0�1 12(?23ba] Urban Renewa! Plan for the Project Area adopted on May 18, �967 and last amended on �� , 2023, City has the authority to enter into contracts artd agreements to implement the Urban Renewal Plan, as amended; and WHEREAS, the Dubu�ue City Council belie�es it is in the best in�erests of the City to encourage Developer ar its Affiliatels in the development of the Property by providing certain incenti�es as set forth herein. NOW, THEREFORE, ir� consideration a#the premises and the mutual obligations of the parties �ereto, each of them daes hereby covenant and agree with the other as fallaws: SECTION 1. REPRESENTATIONS AND WARRANTIES 1.1 Representations and Warranties of Citv. In order to induce Developer to enter into this Agreement, City hereby represents and warrants to Developer and its Affiliatels that to the best of City's knowledge; (�) City has duly obtained all necessary approvals and consents for its execution, delivery, and performance of this Agreement and that it has full power and autharity to execute, de�i�er and perfarm its obligations under this Agreement. City's attarney shall issue a legal opinion to Develo�er at time of closing confirming the representation contained herein, in the form attached �ereta as Exhibit B. (2) City shall exercise its best effor�s to cooperate with Developer in the development process. (3) City shall exercise its best efforts to resolve any disputes arising during the develflpment process in a reasonable and prompt fashian. (4) T�te execution and delivery af this Agreement, the consummation of the transactions contemplated hereby, and the fulfillment of or co�npliance with the terms and canditions of this Agreement are not pre�ented by, limited by, in conflict with, or result in a violation or breach of, the terms, conditions or provisions af the charter of City, any evidence of indebtedness, agreement or instrument of whatever nature to which City is now a party or by which it or its �roperty is bound, or constitu�e a default under any of the foregoing. {5} There are no actions, suits or proceedings pending or threatened against or affecting City in any court ar�efar� any arbitrator or�efore or by any governmentaC body in which there is a reasonable possibility of an adverse decisian which couE� materially adverseiy affect the financial position or operations of City or which affects the validity of t�te Agreement or City's ability to perform its obfigations under this Agreement. (6) The representations and warranties contained in this article shall be correct in all respects on and as of the Closing Date with the same force and effect as if such representations and warranties had been made on and as of the Closing Date. (7) City may not construct any building(s) on the property in the area shown on Exhibit G south or east of the building on the Property which shall be preserved as green space without the express written consent of Developer or its Affiliate, which shall be considered by the Parties to this Agreement as a negative easement and recorded with the Dubuque County Recorder in the Memorandum of Development Agreement Exhibit E. 1.2 Representations and Warranties of Developer. Developer makes the following individual representations and warranties: (1) Developer is duly organized and validly existing or authorized under the laws of the State of Wisconsin and has all requisite power and authority to own and operate its properties, to carry on its business as now conducted and as presently proposed to be conducted, and to enter into and perForm its obligations under the Agreement in the State of lowa. (2) This Agreement has been duly authorized, executed and delivered by Developer, and assuming due authorization, execution, and delivery by City, is in full force and effect and is a valid and legally binding instrument of Developer enforceable in accordance with its terms, except as the same may be limited by bankruptcy, insolvency, reorganization or other laws relating to or affecting creditors' rights generally. Developer's counsel shall issue legal opinions to the City, at time of closing, confirming the representations contained herein, in the form attached hereto as Exhibit C. (3) The execution and delivery of this Agreement, the consummation of the transactions contemplated hereby, and the fulfillment of or compliance with the terms and conditions of this Agreement are not prevented by, limited by, in conflict with, or result in a violation or breach of, the terms, conditions or provisions of the articles of incorporation or the bylaws of Developer or any contractual restriction, evidence of indebtedness, agreement or instrument of whatever nature to which Developer is now a party or by which it or its property is bound, or constitute a default under any of the foregoing. (4) There are no actions, suits or proceedings pending or threatened against or affecting Developer in any court or before any arbitrator or before or by any governmental body in which there is a reasonable possibility of an adverse decision which could materially adversely affect the business, financial position or result of operations of Developer or which affects the validity of the Agreement or Developer's ability to perform its obligations under this Agreement. (5) Developer will perForm its obligations under this Agreement in accordance with the material terms of this Agreement, the Urban Renewal Plan and all local, state and federal laws and regulations. (6) Developer will use good faith efforts to obtain, or cause to be obtained, in a timely manner, all material requirements of all applicable local, state, and federal laws and regulations which must be obtained or met. (7) Developer either: (a) has commitments for permanent financing for the Development Project and all of its obligations under this Agreement in an amount sufficient; and/or (b) sufficient equity commitments, to successfully complete the requirements of this Agreement and shall provide evidence thereof to City prior to the Closing Date. 1.3 Conditions to Closinq. The closing of the transaction (the Closing) contemplated by this Agreement and all the obligations of Developer under this Agreement are subject to fulfillment, on or before the Closing Date, of the following conditions: (1) The representations and warranties made by City in Section 1.1 shall be correct as of the Closing Date with the same force and effect as if such representations were made at such time. At the Closing, City shall deliver a certificate in the form of Exhibit E. (2) Developer or its Affiliate/s having obtained any and all necessary governmental approvals, including without limitations approval of zoning, subdivision, or platting which might be necessary or desirable in connection with the development of the Property and Parking Property. Any conditions imposed as a part of the zoning, platting or subdivision must be satisfactory to Developer, in its sole opinion. City shall cooperate with Developer in attempting to obtain any such approvals and shall execute any documents necessary for this purpose, provided that City shall bear no expense in connection therewith. In connection therewith, City agrees (a) to review all of Developer's or Affiliate's plans and specifications for the Project and to either reject or approve the same in a prompt and timely fashion; (b) to issue a written notification to Developer or Affiliate, following City's approval of same, indicating that City has approved such plans and specifications, and that the same are in compliance with the Urban Renewal Plan and Developer agrees to comply with any amendments to the Urban Renewal Plan, this Agreement and any other applicable City or affiliated agency requirements, with the understanding that Developer, its Affiliate/s and its lenders, if any, shall have the right to rely upon the same in proceeding with the Project; (c) to identify in writing within ten (10) working days of submission of said plans and specifications, any and all permits, approvals and consents that are legally required for the acquisition of the Property and Parking Property by Developer or its Affiliate/s, and the construction, use and occupancy of the Project with the intent and understanding that Developer, Affiliate/s and its lenders and attorneys will rely upon same in establishing their agreement and time frames for construction, use and occupancy, lending on the project and issuing legal opinions in connection therewith; and (d) to cooperate fully with Developer or its Affiliate/s to streamline and facilitate the obtaining of such permits, approvals and consents. (3) Developer or its Affiliate/s and City shall be in material compliance with all the terms and provisions of this Agreement. (4) Developer or its Affiliates shall have furnished City with evidence in a form as required by Section 5.2 and satisfactory to City of Developer's and its Affiliate/s' fulltime equivalent employees (FTE) in the City of Dubuque, lowa, as of January 1, 2023. (5) Receipt of an opinion of counsel to Developer in the form attached hereto as Exhibit C. (6) Developer shall have the right to terminate this Agreement at any time prior to the consummation of the closing on the Closing Date if Developer or its Affiliate determines in its sole discretion that conditions necessary for the successful completion of the Project contemplated herein have not been satisfied to the full satisfaction of such party in such party's sole and unfettered discretion. Upon the giving of notice of termination by such terminating party to the other parties to this Agreement, this Agreement shall be deemed null and void. (7) City and Developer shall have agreed upon easements to be granted by City and Developer, which shall be finalized within sixty (60) days after Closing. 1.4 Closin . The closing shall take place on the Closing Date which shall be on or before the 1St day of August, 2023, or such other date as the parties shall agree in writing but in no event shall the Closing Date be later than the 1 St day of September, 2023. Consummation of the closing shall be deemed an agreement of the parties to this Agreement that the conditions of closing shall have been satisfied or waived. 1.5 City's Obliqations at Closinq. At or prior to Closing Date, City shall deliver to Developer or its Affiliate/s such other documents as may be required by this Agreement, all in a form satisfactory to Developer or its Affiliate/s. SECTION 2. CONVEYANCE OF PARKING PROPERTY TO DEVELOPER. 2.1. Purchase Price. The purchase price for the Parking Property (the Purchase Price) shall be the sum of One Million One Hundred Thousand & 00/100 Dollars ($1,100,000.00), which shall be due and payable by Developer or its Affiliate/s in immediately available funds in favor of City, on the Closing Date. 2.2. Title to Be Delivered. City agrees to convey good and marketable fee simple title to the Parking Property to Developer by Special Warranty Deed in the form attached as Exhibit H subject only to easements, restrictions, conditions and covenants of record as of the date hereof to the extent not objected to by Developer or its Affiliate as set forth in this Agreement or in the title/abstract review process in accordance with the lowa Title Standards. As further consideration, the City agrees to grant Developer or its Affiliate/s a permanent easement relating to: (a) the metal canopy overhanging the adjacent City property (by approximately 2.2 feet) and the handicap ramp located at or near the pedestrian entrance to the northwest of the Property; and (b) the windows with metal framing overhanging the adjacent City property (by approximately 0.4 feet) at or near the pedestrian entrance to the southeast side of the Property. SECTION 3. PARKING PROPERTY 3.1 Use of Parking Property. (1) Developer or its Affiliate's employees, business invitees or business guests may park in the Parking Property any time twenty-four hours per day seven days per week free of charge. Developer shall have exclusive use of the Parking Property for its employees between 6:00 AM and 6:00 PM, Monday through Friday, except for officially recognized state or federal holidays, at no cost. Parking Property shall be available for public use at all other times ("Public Parking Hours"). (2) City reserves the right to charge for parking on the Parking Property during Public Parking Hours, except for Developer's and/or its Affiliates' employees, business invitees and/or business guests, in City's sole discretion. (3) Developer's or its Affiliates' employees, business invitees and/or business guests may park between 6:00 AM and 6:00 PM, Monday through Friday, except for officially recognized state or federal holidays at no charge anywhere on the surFace parking shown on Exhibit G until December 31, 2024. After December 31, 2024, City agrees to rent additional non-designated parking spaces to Developer at City's established public parking rates but acknowledging that both parties have a goal of Developer permanently leasing as few spaces as possible to meet Developer's or its Affiliate's operational needs related to the Property while acknowledging the shared parking concept in the Port of Dubuque. (4) Developer or its Affiliate/s may eliminate some or all of the Parking Property, in its sole discretion. All remaining parking spaces, if any, in the Parking Property shall adhere to the requirements of this Section 3.1. 3.2. Maintenance, Repair and Replacement of Parking Property. (1) Except as provided in Section 3.2(2) below, any required maintenance, repair and/or replacement of the Parking Property shall be performed by Developer or its Affiliates, except to the extent any maintenance, repair or replacement was the result of damages caused by the public's use of the Parking Property during Public Parking Hours, normal wear and tear excepted. (2) City shall be responsible for the following maintenance obligations with respect to the Parking Property and adjacent City-owned sidewalks: a. snow removal and de-icing; b. Maintenance of the lawn sprinkler system; c. Landscaping and replacing bushes, trees, grass, or other landscaping materials etc., as needed; d. Lighting and lighting repair and maintenance; e. Parking lot spring clean-up; and f. Monthly parking lot sweeping during non-winter months. 3.3. Improvements to the Parking Property. City retains the right to install and maintain ingress/egress gate equipment, at its expense. 3.4. This Section 3 shall survive the termination of this Agreement. SECTION 4. INTENTIONALLY OMITTED. SECTION 5. CITY PARTICIPATION. 5.1 Economic Development Grants. (1) Developer Economic Development Grants (a) For and in consideration of Developer's obligations hereunder, and in furtherance of the goals and objectives of the Urban Renewal Plan for the Project Area and the Urban Renewal Law, City agrees, subject to Developer being and remaining in compliance with the terms of this Agreement, to make twenty (20) semi-annual payments (such payments being referred to collectively as the Developer Economic Development Grants) to Developer as follows: November 1, 2025 May 1, 2026 November 1, 2026 May 1, 2027 November 1, 2027 May 1, 2028 November 1, 2028 May 1, 2029 November 1, 2029 May 1, 2030 November 1, 2030 May 1, 2031 November 1, 2031 May 1, 2032 November 1, 2032 May 1, 2033 November 1, 2033 May 1, 2034 November 1, 2034 May 1, 2035 Pursuant to lowa Code Section 403.9 of the Urban Renewal Law, in amounts equal to the actual amount of tax increment revenues collected by City under lowa Code Section 403.19 (without regard to any averaging that may otherwise be utilized under lowa Code Section 403.19 and excluding any interest that may accrue thereon prior to payment to Developer) during the preceding six (6) month period in respect of the Property and Minimum Improvements constructed by Developer (the Developer Tax Increments). City and Developer agree that for purposes of this Section 5.1(1), the assessed value of the Property and Parking Property as of January 1, 2023 is $14,041,400. Developer recognizes and agrees that the Economic Development Grants shall be paid solely and only from the incremental taxes collected by City in respect to the Property, Parking Property and any improvements thereon, which does not include property taxes collected for the payment of bonds and interest of each taxing district, and taxes for the regular and voter-approved physical plant and equipment levy, instructional support levy, and any other portion required to be excluded by lowa law, and thus such incremental taxes will not include all amounts paid by Developer as regular property taxes. (b) To fund the Developer Economic Development Grants, City shall certify to the County prior to December 1 of each year, commencing December 1, 2024, its request for the available Developer Tax Increments resulting from the assessments imposed by the County as of January 1 of that year, to be collected by City as taxes are paid during the following fiscal year and which shall thereafter be disbursed to Developer on November 1 and May 1 of that fiscal year. (Example: If City so certifies by December 1, 2024, the Developer Economic Development Grants in respect thereof would be determined on November 1, 2025, and May 1, 2026.) (c) The Developer Economic Development Grants shall be payable from and secured solely and only by the Developer Tax Increments paid to City that, upon receipt, shall be deposited and held in a special account created for such purpose and designated as the McCoy Group TIF Account of City. City hereby covenants and agrees to maintain its TIF ordinance in force during the term and to apply the incremental taxes collected in respect of the Property and Minimum Improvements and allocated to the McCoy Group TIF Account to pay the Developer Economic Development Grants, as and to the extent set forth in Section 5.1(1) hereof. The Developer Economic Development Grants shall not be payable in any manner by other tax increments revenues or by general taxation or from any other City funds. City makes no representation with respect to the amounts that may be paid to Developer as the Developer Economic Development Grants in any one year and under no circumstances shall City in any manner be liable to Developer so long as City timely applies the Developer Tax Increments actually collected and held in the McCoy Group TIF Account (regardless of the amounts thereof) to the payment of the Developer Economic Development Grants to Developer as and to the extent described in this Section. (2) City shall be free to use any and all tax increment revenues collected in respect of other properties within the Project Area, or any available Developer Tax Increments resulting from the termination of the annual Economic Development Grants under this Section 5.1 hereof, for any purpose for which such tax increment revenues may lawfully be used pursuant to the provisions of the Urban Renewal Law, and City shall have no obligations to Developer with respect to the use thereof. (3) All of City's obligations under this Agreement, including but not limited to City's obligation to pay the Economic Development Grants to Developer, shall be subject to City having completed all hearings and other procedures required to amend the Urban Renewal Plan to describe the Urban Renewal Project being undertaken in accordance with this Agreement by no later than December 31, 2023. 5.2 Other than the Economic Development Grants required by Section 5.1, City shall have no obligation to provide any other funds to Developer related to the Property or Parking Property except as it relates to and/or forms part of the City's performance of its obligations under this Agreement. SECTION 6. NON- APPROPRIATION / LIMITED SOURCE OF FUNDING. 6.1 Non-Appropriation. (1) Notwithstanding anything in this Agreement to the contrary, the obligation of City to pay any installment of the Economic Development Grants from the pledged tax increment revenues shall be an obligation limited to currently budgeted funds, and not a general obligation or other indebtedness of City or a pledge of its full faith and credit within the meaning of any constitutional or statutory debt limitation, and shall be subject in all respects to the right of non-appropriation by the City Council of City as provided in this Section. City may exercise its right of non-appropriation as to the amount of the installments to be paid during any fiscal year during the term of this Agreement without causing a termination of this Agreement. The right of non-appropriation shall be exercised only by resolution affirmatively declaring City's election to non-appropriate funds otherwise required to be paid in the next fiscal year under this Agreement. (2) In the event the City Council of City elects to not appropriate sufficient funds in the budget for any future fiscal year for the payment in full of the installments on the Economic Development Grants due and payable in that future fiscal year, then City shall have no further obligation to Developer for the payment of any installments due in that future fiscal year which cannot be paid with the funds then appropriated for that purpose. 6.2 The right of non-appropriation reserved to City in this Section is intended by the parties, and shall be construed at all times, so as to ensure that City's obligation to pay future installments on the Economic Development Grants shall not constitute a legal indebtedness of City within the meaning of any applicable constitutional or statutory debt limitation prior to the adoption of a budget which appropriates funds for the payment of that installment or amount. In the event that any of the provisions of this Agreement are determined by a court of competent jurisdiction to create, or result in the creation of, such a legal indebtedness of City, the enforcement of the said provision shall be suspended, and the Agreement shall at all times be construed and applied in such a manner as will preserve the foregoing intent of the parties, and no event of default shall be deemed to have occurred as a result thereof. If any provision of this Agreement or the application thereof to any circumstance is so suspended, the suspension shall not affect other provisions of this Agreement which can be given effect without the suspended provision, and to this end the provisions of this Agreement are severable. SECTION 7. COVENANTS OF DEVELOPER. 7.1 Job Creation and Maintenance. During the term of this Agreement, Developer or its Affiliate/s shall comply with the following employment-related covenants for the Project: (1) Developer represents that the number of fulltime equivalent (FTE) employees employed by Developer and its Affiliate/s in the City of Dubuque, lowa, as of January 1, 2023 is Two Hundred Forty-Eight (248). Developer and its Affiliate/s shall create and maintain Eighteen (18) additional FTE employees employed by Developer or its Affiliate/s by October 1, 2025 and during the remaining Term of this Agreement for a total of Two Hundred Sixty-Six (266) FTE employees in the city of Dubuque, lowa. FTE employees shall be calculated by adding full-time and part-time employees together using 2080 hours per year as a FTE employee. (2) For the FTE positions that Developer or its Affiliate/s fail to create and maintain for any year during the term of this Agreement, the semi-annual Developer Economic Development Grants for such year under Section 5.1(1) shall be reduced by the percentage that the number of positions Developer or its Affiliate/s fail to create or maintain as required by this Section 7.1 bears to the total number of positions required to be created and maintained (266 FTEs) by this Section 7.1. (For example, if Developer or its Affiliate/s have 200 FTE employees employed by Developer, the semi-annual Economic Development Grants to be paid for that year would be 75% (200/266 employees) of the Tax Increment Revenues received by City). The reduction of the semi-annual Economic Development Grants shall be City's sole remedy for the failure of Developer or its Affiliate/s to meet the job creation requirements of this subsection 7.1(2). (3) Developer's job creation and maintenance obligation under Section 7.1(1) will continue during the Term of this Agreement. 7.2 Certification. To assist City in monitoring the performance of Developer hereunder, as of October 1, 2025, and again as of October 1 of each year thereafter during the term of this Agreement, a duly authorized officer of Developer shall certify to City in a form acceptable to City (a) the number of FTE positions employed by Developer in Dubuque, lowa, and (b) to the effect that such officer has reexamined the terms and provisions of this Agreement and that at the date of such certificate, and during the preceding twelve (12) months, Developer is not or was not in default in the fulfillment of any of the terms and conditions of this Agreement and that no Event of Default (or event which, with the lapse of time or the giving of notice, or both, would become an Event of Default) is occurring or has occurred as of the date of such certificate or during such period, or if the signer is aware of any such default, event or Event of Default, said officer shall disclose in such statement the nature thereof, its period of existence and what action, if any, has been taken or is proposed to be taken with respect thereto. Such certificate shall be provided not later than October 15, 2025, and by October 15 of each year thereafter. Developer's certification obligations under this Section 7.2 terminate following the final certification on October 1, 2034 (due by October 15, 2034). 7.3 Books and Records. During the term of this Agreement, Developer shall keep at all times proper books of record and account in which full, true and correct entries will be made of all dealings and transactions of or in relation to the business and affairs of Developer in accordance with generally accepted accounting principles consistently applied throughout the period involved, and Developer shall provide reasonable protection against loss or damage to such books of record and account. 7.4 Real Property Taxes. From and after the Closing Date, Developer shall pay or cause to be paid, when due and before delinquency, all real property taxes and assessments payable with respect to all and any parts of the Property unless Developer's obligations have been assumed by another person pursuant to the provisions of this Agreement. 7.5 No Other Exemptions. During the term of this Agreement, Developer agrees not to apply for any state or local property tax exemptions which are available with respect to the Property or the Parking Property that may now be, or hereafter become, available under state law or city ordinance during the Term of this Agreement, including those that arise under lowa Code Chapters 404 and 427, as amended. 7.6 Insurance Requirements. (1) Up to the Termination Date, Developer shall maintain, or cause to be maintained, at its cost and expense (and from time to time at the request of City shall furnish proof of insurance in the form of a certificate of insurance) property insurance against loss and/or damage to the Property and the Parking Property and any improvements thereof (the Improvements) under an insurance policy written in an amount not less than the full insurable replacement value the Improvements. Coverage shall include the "special perils" form. (2) The term "replacement value" shall mean the actual replacement cost of the Improvements (excluding foundation and excavation costs and costs of underground flues, pipes, drains and other uninsurable items) and equipment, and shall be reasonably determined from time to time at the request of City, but not more frequently than once every three (3) years. (3) Developer agrees to notify City immediately in the case of damage exceeding One Hundred Thousand Dollars ($100,000.00) in amount to, or destruction of, the Improvements or any portion thereof resulting from fire or other casualty. The net proceeds of any such insurance (the Net Proceeds) shall be paid directly to Developer as its interests may appear, and Developer shall forthwith repair, reconstruct and restore the Improvements to substantially the same or an improved condition or value as they existed prior to the event causing such damage and, to the extent necessary to accomplish such repair, reconstruction and restoration, Developer shall apply the Net Proceeds of any insurance relating to such damage received by Developer to the payment or reimbursement of the costs thereof, subject, however, to the terms of any mortgage encumbering title to the Property (as its interests may appear). Developer shall complete the repair, reconstruction, and restoration of Minimum Improvements whether or not the Net Proceeds of insurance received by Developer for such Purposes are sufficient. (4) Developer shall be responsible for deductibles and self-insured retention. 7.7 Preservation of Property. During the term of this Agreement, Developer shall maintain, preserve and keep, or cause others to maintain, preserve and keep, the Improvements in good repair and working order, ordinary wear and tear excepted, and from time to time shall make all necessary repairs, replacements, renewals and additions. Nothing in this Agreement, however, shall be deemed to alter any agreements between Developer or any other party including, without limitation, any agreements between the parties regarding the care and maintenance of the Property. 7.8 Non-Discrimination. In carrying out the project, Developer shall not discriminate against any employee or applicant for employment because of age, color, familial status, gender identity, marital status, mental/physical disability, national origin, race, religion/creed, sex, or sexual orientation. 7.9 Conflict of Interest. Developer agrees that no member, officer or employee of City, or its designees or agents, nor any consultant or member of the governing body of City, and no other public official of City who exercises or has exercised any functions or responsibilities with respect to the project during his or her tenure, or who is in a position to participate in a decision-making process or gain insider information with regard to the project, shall have any interest, direct or indirect, in any contract or subcontract, or the proceeds thereof, for work to be performed in connection with the project, or in any activity, or benefit therefrom, which is part of this project at any time during or after such person's tenure. In connection with this obligation, Developer shall have the right to rely upon the representations of any party with whom it does business and shall not be obligated to perform any further examination into such party's background. 7.10 Non-Transferability. During the Term of this Agreement, this Agreement may not be assigned by Developer except to an Affiliate of the Developer, nor may any portion of the Property be sold or otherwise transferred by Developer without the prior written consent of City, which consent shall not be unreasonably withheld. City has no obligation to consent to any assignment or sale. The sole remedy for the Developer or its Affiliate/s breach of this Section 7.10 shall be the forfeiture of any Economic Grant Payments due after the unauthorized transfer of the Property. 7.11 Restrictions on Use. Developer agrees for itself, and its successors and assigns, and every successor in interest to the Property or any part thereof that they, and their respective successors and assigns, shall: (1) Devote the Property to, and only to and in accordance with, the uses specified in the Urban Renewal Plan (and City represents and agrees that use of the Property consistent with its current zoning is in full compliance with the Urban Renewal Plan and Developer agrees to comply with any amendments to the Urban Renewal Plan,) (however, Developer shall not have any liability to City to the extent that a successor in interest shall breach this covenant and City shall seek enforcement of this covenant directly against the party in breach of same); and (2) Not discriminate upon the basis of age, color, familial status, gender identity, marital status, mental/physical disability, national origin, race, religion/creed, sex, or sexual orientation in the sale, lease, rental, use or occupancy of the Property or any improvements erected or to be erected thereon, or any part thereof (however, Developer shall not have any liability to City to the extent that a successor in interest shall breach this covenant and City shall seek enforcement of this covenant directly against the party in breach of same). 7.12 Release and Indemnification Covenants. City and Developer agree to indemnify each other and their respective officers and employees from any against any and all claims or damages arising out of each party's negligence in the perFormance of this Agreement. The provisions of this Section shall survive the termination of this Agreement. 7.13 Compliance with Laws. Developer shall comply with all federal, state, and local laws, rules and regulations relating to its businesses, other than laws, rules and regulations for which the failure to comply with or the sanctions and penalties resulting therefrom, would not have a material adverse effect on the business, property, operations, financial or otherwise, of Developer. SECTION 8. EVENTS OF DEFAULT AND REMEDIES. 8.1 Events of Default Defined. The following shall be "Events of Default" under this Agreement and the term "Event of Default" shall mean, whenever it is used in this Agreement, any one or more of the following events: (1) Failure by Developer to pay or cause to be paid, before delinquency, all real property taxes assessed with respect to the Improvements and the Property. (2) Transfer of any interest by Developer in any portion of the Property or the Improvements in violation of the provisions of this Agreement. (3) Failure by Developer to substantially observe or perForm any other material covenant, condition, obligation or agreement on its part to be observed or perFormed under this Agreement. 8.2 Remedies on Default by Developer. Whenever any Event of Default referred to in Section 8.1 of this Agreement occurs and is continuing, City, as specified below, may take any one or more of the following actions after the giving of written notice by City to Developer (and the holder of any mortgage encumbering any interest in the Property of which City has been notified of in writing) of the Event of Default, but only if the Event of Default has not been cured within sixty (60) days following such notice, or if the Event of Default cannot be cured within sixty (60) days and the Developer does not provide assurances to City that the Event of Default will be cured as soon as reasonably possible thereafter: (1) City may suspend its performance under this Agreement until it receives assurances from the Developer, deemed adequate by City, that the Developer will cure the default and continue the perFormance under this Agreement; (2) Until the Closing Date, City may cancel and rescind this Agreement; (3) City may take any action, including legal, equitable or administrative action, which may appear necessary or desirable to collect any payments due under this Agreement or to enforce perFormance and observance of any obligation, agreement, or covenant under this Agreement. 8.3 No Remedy Exclusive. Except as specifically identified as the sole or exclusive remedy of a Party, no remedy herein conferred upon or reserved to either Party is intended to be exclusive of any other available remedy or remedies, but each and every such remedy shall be cumulative and shall be in addition to every other remedy given under this Agreement or now or hereafter existing at law or in equity or by statute. No delay or omission to exercise any right or power accruing upon any default shall impair any such right or power or shall be construed to be a waiver thereof, but any such right and power may be exercised from time to time and as often as may be deemed expedient. 8.4 No Implied Waiver. In the event any agreement contained in this Agreement should be breached by any party and thereafter waived by any other party, such waiver shall be limited to the particular breach so waived and shall not be deemed to waive any other concurrent, previous or subsequent breach hereunder. 8.5 Aqreement to Pav Attornevs' Fees and Expenses. If any action at law or in equity, including an action for declaratory relief or arbitration, is brought to enforce or interpret the provisions of this Agreement, the prevailing party shall be entitled to recover reasonable attorneys' fees and costs of litigation from the other party. Such fees and costs of litigation may be set by the court in the trial of such action or by the arbitrator, as the case may be, or may be enforced in a separate action brought for that purpose. Such fees and costs of litigation shall be in addition to any other relief that may be awarded. 8.6 Remedies on Default by City. If City defaults in the perFormance of this Agreement, Developer may take any action, including legal, equitable or administrative action that may appear necessary or desirable to collect any payments due under this Agreement, to recover expenses of Developer, or to enforce performance and observance of any obligation, agreement, or covenant of City under this Agreement. Developer may suspend performance under this Agreement until it receives assurances from City, deemed adequate by Developer, that City will cure its default and continue its performance under this Agreement. SECTION 9. GENERAL TERMS AND PROVISIONS. 9.1 Notices and Demands. Whenever this Agreement requires or permits any notice or written request by one party to another, it shall be deemed to have been properly given if and when delivered in person or three (3) business days after having been deposited in any U.S. Postal Service and sent by registered or certified mail, postage prepaid, addressed as follows: If to Developer: McCoy Group, Inc. 2099 Southpark Court Dubuque, IA 52002 Phone: (563) 584-2670 With copy to: Davin Curtiss O'Connor & Thomas, P.0 1000 Main St. Dubuque, lowa 52001 If to City: City Manager 50 W. 13t" Street Dubuque, lowa 52001 Phone: (563) 589-4110 Fax: (563) 589-4149 With copy to: City Attorney City Hall 50 W. 13t" Street Dubuque, lowa 52001 or at such other address with respect to any party as that party may, from time to time designate in writing and forward to the other as provided in this Section. 9.2 Binding Effect. This Agreement shall be binding upon and shall inure to the benefit of City and Developer and their respective successors and assigns. 9.3 Force Maieure. A party shall be excused from its obligations under this Agreement if and to the extent and during such time as the party is prevented, impeded, or hindered, unable to perform its obligations or is delayed in doing so due to events or conditions outside of the party's reasonable control and after the party has taken reasonable steps to avoid or mitigate such event or its consequences (each a "Force Majeure Event") including, without limitation in any way, as the result of any acts of God, war, fire, or other casualty, riot, civil unrest, extreme weather conditions, terrorism, strikes and/or labor disputes, pandemic, epidemic, quarantines, government stay-at-home orders, municipal and other government orders, failure of Internet, or other matter beyond the control of such party. Upon the occurrence of a Force Majeure Event, the party incurring such Force Majeure Event will promptly give notice to the other party identifying the Force Majeure Event, explaining how it impacts performance and the estimated duration, identifying the relief requested, agreeing to limit damages to the other party and to immediately resume performance upon termination of the Force Majeure Event, and agreeing to supplement the notice as more information becomes available, and thereafter the parties shall meet and confer in good faith in order to identify a cure of the condition affecting its perFormance as expeditiously as possible. No obligation to make a payment required by this Agreement is excused by a Force Majeure Event. The nonperforming party shall not be entitled to any damages or additional payments of any kind for any such delay. 9.4 Termination Date. This Agreement and the rights and obligations of the parties hereunder shall terminate on June 1 following the last payment to Developer under Section 5.1. 9.5 Execution By Facsimile. The parties agree that this Agreement may be transmitted among them by email or facsimile machine. The parties intend that the emailed or faxed signatures constitute original signatures and that an emailed or faxed Agreement containing the signatures (original, emailed or faxed) of all the parties is binding on the parties. 9.6 Memorandum of Development Aqreement. City shall promptly record a Memorandum of Development Agreement in the form attached hereto as Exhibit E in the office of the Recorder of Dubuque County, lowa. Developer shall pay the costs for so recording. 9.7. Upon approval of this Agreement by City and Developer, the Development Agreement between the parties dated January 3, 2023, shall be terminated with neither party having any further obligations thereunder. IN WfTNESS WHERE��, City I�as ca�ased #his Agreement to be duly ex�cuted in its name and behalf by its Mayor and attested #o by i#s City Clefk and Deveioper has caused this Agreement to be duly sxecuted. ClTY OF DUBUQUE, I�WA MCCOY GRDUP, INC. / � By: - ;� _ BY: Brad M.�Ca�an� , Mayor G� � Its , A�t�st: By: �''�,.0�-✓n� ,�`� � 'c2��-x.�/C Adrienne N, Breitfelder, City Clerk LIST OF EXHIBITS EXHIBIT A Urban Renewal Plan EXHIBIT B City Attorney Certificate EXHIBIT C Opinion of Developer Counsel EXHIBIT D City Certificate EXHIBIT E Memorandum of Development Agreement EXHIBIT F Parking Property EXHIBIT G Site Map EXHIBIT H Special Warranty Deed EXHIBIT A URBAN RENEWAL PLAN (on file in City Clerk's office, 50 W. 13t"Street, Dubuque, IA 52001) EXHIBIT B CITY ATTORNEY CERTIFICATE Barry A.Lindahl,Esq. Senior Counsel DubuquE', THE CITY C7F � Suite 330,Harbor View Place All-Ameri�a Ciry 300 Main Street �� Dubuque,Iowa 52001-6944 I I 'm (563)583-4ll3 office (563)583-1040 fax • . . . 200�•2012•2013 balesq(wciryofdubuque.org MaSt�7�12C2 01� t�le �1S51SS1�'J�J2 2017*2019 (DATE) RE: Dear � I have acted as counsel for the City of Dubuque, lowa, in connection with the execution and delivery of a certain Development Agreement by and between McCoy Group, Inc. (Developer) and the City of Dubuque, lowa (City) dated for reference purposes the day of , 20_. The City has duly obtained all necessary approvals and consents for its execution, delivery and performance of this Agreement and has full power and authority to execute, deliver and perForm its obligations under this Agreement, and to the best of my knowledge, the representations of the City Manager in his letter dated the day of , 20 , are correct. Very sincerely, Barry A. Lindahl, Esq. Senior Counsel BAL:JLM EXHIBIT C OPINION OF DEVELOPER'S COUNSEL Mayor and City Councilmembers City Hall 13t" and Central Avenue Dubuque IA 52001 Re: Development Agreement By and Between the City of Dubuque, lowa, and McCoy Group, Inc. Dear Mayor and City Councilmembers: We have acted as counsel for McCoy Group. Inc. (Developer) in connection with the execution and delivery of a certain Development Agreement (Development Agreement) between Developer and the City of Dubuque, lowa (City) dated for reference purposes the day of , 20_ We have examined the original certified copy, or copies otherwise identified to our satisfaction as being true copies, of the Development Agreement and such other documents and records as we have deemed relevant and necessary as a basis for the opinions set forth herein. Based on the pertinent law, the foregoing examination and such other inquiries as we have deemed appropriate, we are of the opinion that: 1. Developer is a Wisconsin corporation with its principal place of business at Dubuque, lowa and has full power and authority to execute, deliver and perForm in full Development Agreement. The Development Agreement has been duly and validly authorized, executed and delivered by Developer and, assuming due authorization, execution and delivery by City, is in full force and effect and is valid and legally binding instrument of Developer enforceable in accordance with its terms, except as the same may be limited by bankruptcy, insolvency, reorganization or other laws relating to or affecting creditors' rights generally. 2. The execution, delivery and perFormance by Developer of the Development Agreement and the carrying out of the terms thereof, will not result in violation of any provision of, or in default under, the articles of incorporation and bylaws of Developer, any indenture, mortgage, deed of trust, indebtedness, agreement, judgment, decree, order, statute, rule, regulation or restriction to which Developer is a party or by which Developer's property is bound or subject. 3. To the best of our knowledge, there are no actions, suits or proceedings pending or threatened against or affecting Developer in any court or before any arbitrator or before or by any governmental body in which there is a reasonable possibility of an adverse decision which could materially adversely affect the business (present or prospective), financial position or results of operations of Developer or which in any manner raises any questions affecting the validity of the Agreement or the Developer's ability to perform Developer's obligations thereunder. We have examined such documents and certificates of public officials and officers of the Developer as we have deemed necessary for the purposes of this opinion. As to the existence of facts which are material to this opinion, we have relied upon certificates of public officials, statements by officers and resolutions of the Members of the Developer. In rendering our opinion, we have assumed (i) the legal capacity of all natural persons and the capacity and corporate power of all parties to the documents examined by us other than the Developer, (ii) the due authorization, execution and delivery of each document examined by us, by all parties to such documents other than the Developer, (iii) the genuineness of all signatures other than the signatures of the representatives of the Developer, (iv) the authenticity of all documents submitted to us as originals; (v) the conformity to original documents of all documents submitted to us as copies; and (vi) the City has no knowledge, direct or through their counsel, which would render any of the representations set forth herein inaccurate or incorrect. We have not made any independent investigation to verify any assumptions made herein, and have not undertaken any factual investigation into the business, properties, agreements or litigation of the Developer for the purpose of rendering the opinions expressed herein. There may exist matters of a factual nature which could have a bearing on our opinions expressed herein, with respect to which we have not been consulted or are otherwise unaware. Where used herein, the language "to the best of our knowledge" or language of similar nature means to our actual knowledge with no duty to inquire further of any person or document. Said language is intended to be limited to the actual knowledge of the attorneys within our firm who have been directly involved in representing the Developer, or whom we reasonably believe have knowledge of the affairs of the Developer. We have assumed that all representations and warranties made by any party to the Development Agreement are true and correct. We have examined the law, the resolutions of the members of Developer, the Development Agreement, and such company proceedings of the Developer and such other documents, certificates, instruments and matters as we deem necessary to render this opinion. The foregoing opinions are subject to: (a) Equitable principles of general applicability (including, without limitation, concepts of materiality, reasonableness, good faith and fair dealing, public policy, equitable subordination and the possible unavailability of specific performance or injunctive relief), regardless of whether considered in a proceeding in equity or at law or whether codified by statute; (b) The unenforceability of provisions purporting to waive rights, claims, demands, liabilities or defenses to obligations, known or unknown, suspected or unsuspected, where such waivers are contrary to any applicable law or against public policy; (c) The unenforceability, under certain circumstances, of provisions of agreements to the effect that rights or remedies are not exclusive, that every right or remedy is cumulative and may be exercised in addition to or with any other right or remedy, or that the election of some particular remedy or remedies does not preclude recourse to one or another remedy; (d) The unenforceability under certain circumstances, of provisions which purport to govern forum selection or consent to jurisdiction; and (e) The potential to vary the terms of the Development Agreement on the basis of parol evidence. The opinions set forth herein are given as of the date hereof. We disclaim any obligation to notify you or any other person after the date of this letter if any change in fact and/or law should change our opinion with respect to any matters set forth herein. This opinion is for your benefit only and may not be quoted in whole or in part or otherwise referred to in any documents, or delivered to or filed with any person or entity, or relied upon by any other person or entity, without our prior written consent. Very truly yours, EXHIBIT D CITY CERTIFICATE QU�UC�LI� City Manager's Office THE CITY OF � c'ty xa11 50 West 13th Street All-Ame�ica Ciq� Dubuque,Iowa 52001-4864 h'.11k IV,V�11'k.l I.b I, �� r 1 I �� (563)589-4110 office L (563)589-4149 fax ctymgr@cityofdubuque.org 2007�Z012iZ013 Masterpiece on �he Mississippi �oi�*zo1� (DATE) Re: Development Agreement By and Between the City of Dubuque, lowa, and McCoy Group, Inc. Dear • I am the City Manager of the City of Dubuque, lowa and have acted in that capacity in connection with the execution and delivery of a certain Development Agreement by and between McCoy Group, Inc. and the City of Dubuque, lowa (City) dated for reference purposes the day of , 20_ On behalf of the City of Dubuque, I hereby represent and warrant to Developer that: (1) There is no action, suit or proceeding pending, or to the best of City's knowledge, threatened against City which might result in any adverse change in the Property being conveyed or the possession, use or enjoyment thereof by Developer, including, but not limited to, any action in condemnation, eminent domain or public taking. (2) No ordinance or hearing is now or before any local governmental body that either contemplates or authorizes any public improvements or special tax levies, the cost of which may be assessed against the Property. To the best of City's knowledge, there are no plans or efforts by any government agency to widen, modify, or re-align any street or highway providing access to the Property and there are no pending or intended public improvements or special assessments affecting the Property which will result in any charge or lien be levied or assessed against the Property. (3) All leases, contracts, licenses, and permits between City and third parties in connection with the maintenance, use, and operation of the Property have been provided to Developer and City has provided true and correct copies of all such documents to Developer. (4) City has good and marketable fee simple title interest in the Property. (5) The Property has a permanent right of ingress or egress to a public roadway for the use and enjoyment of the Property. (6) There are no notices, orders, suits,judgments or other proceedings relating to fire, building, zoning, air pollution, health violations or other matters that have not been corrected. City has notified Developer in writing of any past notices, orders, suits, judgments or other proceedings relating to fire, building, zoning, air pollution or health violations as they relate to the Property of which it has actual notice. The Property is in material compliance with all applicable zoning, fire, building, and health statutes, ordinances, and regulations. The Property is currently zoned PUD and Developer's intended use of the Property as a corporate office/industrial facility is a permitted use in such zoning classification. (7) Payment has been made for all labor or materials that have been furnished to the Property or will be made prior to the Closing Date so that no lien for labor performed or materials furnished can be asserted against the Property. (8) The Property will, as of the Closing Date, be free and clear of all liens, security interests, and encumbrances. (9) The execution, delivery and perFormance of this Agreement and the consummation of the transactions contemplated by this Agreement do not and shall not result in any material breach of any terms or conditions of any mortgage, bond, indenture, agreement, contract, license, or other instrument or obligation to which City is a party or by which either the City or the Property being conveyed are bound, nor shall the execution, delivery and performance of this Agreement violate any statute, regulation,judgment, writ, injunction or decree of any court threatened or entered in a proceeding or action in which City may be bound or to which either City or the Property being conveyed may be subject. (10) City has duly obtained all necessary approvals and consents for its execution, delivery and performance of this Agreement, and has full power and authority to execute, deliver and perform its obligations under this Agreement. City's attorney shall issue a legal opinion to Developer at time of closing confirming the representation contained herein, in the form attached hereto as Exhibit C. (11) The Property is free and clear of any occupants, and no party has a lease to or other occupancy or contract right in the Property that shall in any way be binding upon the Property or Developer. (12) City represents and warrants that any fees or other compensation which may be owed to a broker engaged directly or indirectly by City in connection with the purchase and sale contemplated in this Agreement are the sole responsibility and obligation of City and that City will indemnify Developer and hold Developer harmless from any and all claims asserted by any broker engaged directly or indirectly by City for any fees or other compensation related to the subject matter of this Agreement. (13) City shall exercise its best efforts to assist with Developer in the development process. (14) City shall exercise its best efforts to resolve any disputes arising during the development process in a reasonable and prompt fashion. (15) With respect to the period during which City has owned or occupied the Property, and to City's knowledge after reasonable investigation with respect to the time before City owned or occupied the Property, no person or entity has caused or permitted materials to be stored, deposited, treated, recycled, or disposed of on, under or at the Property, which materials, if known to be present, would require cleanup, removal or some other remedial action under environmental laws. (16) All city utilities necessary for the development and use of the Property as an industrial manufacturing facility adjoin the Property and Developer shall have the right to connect to said utilities, subject to City's connection fees. (17) The representations and warranties contained in this article shall be correct in all respects on and as of the Closing Date with the same force and effect as if such representations and warranties had been made on and as of the Closing Date. Sincerely, Michael C. Van Milligen City Manager MCVM:jh EXHIBIT E MEMORANDUM OF DEVELOPMENT AGREEMENT Prepared by: Barry A. Lindahl 300 Main Street Suite 330 Dubuque IA 52001 563 583-4113 Return to: Barry A. Lindahl 300 Main Street Suite 330 Dubuque IA 52001 563 583-4113 MEMORANDUM OF DEVELOPMENT AGREEMENT A Development Agreement by and between the City of Dubuque, lowa, an lowa municipal corporation, of Dubuque, lowa, and McCoy Group, Inc. was made regarding the following described premises: LOT 1-1 RIVERWALK 6TH ADDITION, locally known as 501 Bell Street and the Parking Property legally described as The Development Agreement is dated for reference purposes the day of , 20_, and contains covenants, conditions, and restrictions concerning the use of said premises. This Memorandum of Development Agreement is recorded for the purpose of constructive notice. In the event of any conflict between the provisions of this Memorandum and the Development Agreement itself, executed by the parties, the terms and provisions of the Development Agreement shall prevail. A complete counterpart of the Development Agreement, together with any amendments thereto, is in the possession of the City of Dubuque and may be examined at its offices as above provided. Dated this day of , 20_ CITY OF DUBUQUE, IOWA By: Barry A. Lindahl, Esq., Senior Counsel STATE OF IOWA : ss: DUBUQUE COUNTY On this day of , 20_, before me, a Notary Public in and for the State of lowa, in and for said county, personally appeared Barry A. Lindahl, , to me personally known, who being by me duly sworn did say that he is Senior Counsel of the City of Dubuque, a Municipal Corporation, created and existing under the laws of the State of lowa and that said instrument was signed on behalf of said Municipal corporation by authority and resolution of its City Council and said Senior Counsel acknowledged said instrument to be the free act and deed of said Municipal Corporation by it voluntarily executed. Notary Public, State of lowa EXHIBIT F PARKING PROPERTY ��.� � � - �--�.;� , s�;=: �.,„�� r s. '�. � , •; ',� �� - � ., . -_ .;�L �� '- _ � _ - � �r �ir - . . � , r� �� ,�, `• �:� x� _� ' � '�''.'. � ��'' ,,��` � � �� .�� ` yr.�„�F-- , ` � -,� . ��_�. � ��.. � ,� � � . • � 6�� • a� _ r .e � �y� � s •�� '� , , � � ,_� f `�1} -a ' � � { � _t; �� .�� . y r •�r ! _ `' � ` .' � 1 a ' � �'� ; � �' � -:,�',� : -. l= + k. � � I ■ ��i - � _. �� - • �• � �. .�.a � �1 . ' ' I ' L : �., ��, �f . I *` � '� � �� , �_ .� 3�" r ,P . � ` �' . � ``1� ti,.. . , .� k � � � G- r �• k� � ' �.- �i �� :'� � . �, . . .. a►. - , ' ,-. ��" � . �,,�, r Li 4 "�� •�` �� ■ ! �_� .. �'� �.�' r � _ � � �.;� ��':..� �� _,� . ��. k' �� .� ��•�� •� �7 - :r"� �� . � �. � .�L�`' � � 7•:.i ��,�• ;� i � �� , , ��,�-r `�. . .. . ' t _ � �� .. � . '� . _i_ . a[]� . -, ,,��_ � '� � � ` '� �� i, � • . . _ _ , �� - ��r ` F. �� 1 � « � �ti�' . ��'�'y � - � `� i ` � - . dt � i �� T.r � � r ..S ,� � 05112023ba1 EXHIBIT G SITE PLAN 05112023ba1 . .�..��M �: � �. : � � ��w ��,b - �+-r � '�y„ . � � ,�lti� , x-}, . u , � ,,.,'� �, � � . 4.- � . ..�, ti _ _ . ' , ._. . � `,_r � .� . ,ti'a, � ., , -r' i � ! � ,f, � w4 �a. .. � -��dFk _ . - r:�� -A�. . . ,�'' s �tar,:, �t '.,1�-,�;F = _ ; DuhuqurC'uuat�Parsrl��El?�?I�fiti}IJ � .' ';�� _ ._ �•{ y . m � ` ,, _�,,q-. �.� '� PIH• 113d]Oo�l�s i I,� , � Address: E 5TH ST - ;' _ � '' � '�; �4,�0',"-`��„*':; Qwner: qUBIiQUE. ClTY OF • � � - �� r � �� 'tr� �' �� ' yj- , ��;. ` ." � „ ,,, Legal OeScription� Gpi 1 RIVER4'VaLFC , r A � , ,,�s .� � . � � . ��t� , 1 r " �.�`� {. � ti - v te used�r I I ;. � 9T�-+.24DITt ��- - � ` �� ►'-" • � , , .', L.��,v h'�1�. ',OC ega ` Ot � 1 �. r� , f « • „� e' �� ,,y . .j_ ., ..�� . ., n e, . 4 $�� ti ��. -.:.� ...._:�r �r=,.� :.i� .,�,�. . •��A ?,. � , •; ,. . .'t� g- i4[I- Q5WI15�llp-I�sInJC: d ��1' , •. AIC ' ` ' . • _,,, , .. :� �� .�� _ �5.. ,�_,ri . . .� rt:." � • �`� . C�d55:f - , t•;�,. � �� . ��` - �_.. ,- , � �a i;. �,1'� `r�: Tax dis#rict: QU6�7- DUBUQUE ClTY - t�� ' �` �+�-,�� '`� '- bE�C{}*.�i.1.4,Od40Q40040 �. � _ �, �' �•(I�'�' '.,'�• ,�i�•.- ~ . f�rr r TIF Class: DUT35 - DU$UQVE UFY 11R i - ,r� �iir � `- v�1' s' "�, �� 35, ,-�il!ln�rin�]O�fl '� . ��a q, - __ �- `+! ,114 . .�� .,k�� 4 �.� ,.. T..a� ' � 34�;..' �f. . � ... f .. ' _. , r' . .�" T , � . . y , � ��# �` �+"' � .� �','' ,j •' � ��r " •y .,��.. ' -- ��; . . �r#� � �'�� ' �t'� . t '! '�;�a .r.�, }, r� � 4 t� � +,: � :��t74 �'s, � ' ,7 - i 1 f a j. + � .,��„�,. - . . l4 . � 5�� 3 �.' � 5��.' � -�.. �,,.,. '�° � - ,� �' � ,� `� w'`�,�`�# � _ ��`�' a,'-� '�• F �: � �� ,ti, -'�.•.. -� -� r� �� '. � � � ! .� � p�+`,� .. � - � ... �� ,�,��;, 'ty. �� .+�, � '�^�� `�."�a�,'- -`'°�, -_� _ , ` �''`ty , ,.�� , ` - - .� �,� �+y. r k ' ' ' w .i 9 : . �..' - .�� -� . ` f�� '� +' � v�•r. s�.,. .�pl.::ilf7N � ' � ` � - �,. � '� �. ; . �. • ,• � `� t "'`'+ F � ''�. � ^_ ��' . .�_. 1' �.. �.. ��_�� .` , � t",4_�`-J �� f �3m�a 05112023ba1 EXHIBIT H SPECIAL WARRANTY DEED 05112023ba1 Prepared by: Barry A. Lindahl 300 Main Street, Suite 330, Dubuque IA 52001 563 583-4113 Return to: Barry A. Lindahl 300 Main Street, Suite 330, Dubuque IA 52001 563 583-4113 Tax Statement to: SPECIAL WARRANTY DEED KNOW ALL MEN BY THESE PRESENTS: that the City of Dubuque, lowa, a municipal corporation of the State of lowa (Grantor), in consideration of the Grantee named below undertaking the obligations of the Developer under the Development Agreement described below and the sum of Ten and no/100 Dollars ($10.00) in hand paid, and other good and valuable consideration, and pursuant to the authority of Chapter 403, Code of lowa, does hereby GRANT, SELL AND CONVEY unto the following described parcel(s) situated in the County of Dubuque, State of lowa, to wit (the Property): This Deed is exempt from transfer tax pursuant to lowa Code section 428A.2(6). This Deed is given pursuant to the authority of Resolution No. of the City Council of the City of Dubuque adopted the day of , 2023, the terms and conditions thereof, if any, having been fulfilled. This Deed is being delivered in fulfillment of Grantor's obligations under and is subject to all the terms, provisions, covenants, conditions and restrictions contained in that certain Development Agreement executed by Grantor and Grantee herein, dated the day of , 2023 (the Agreement), a memorandum of which was recorded on the day of , 2023, in the records of the Recorder of Dubuque County, lowa, Instrument Number - None of the provisions of the Agreement shall be deemed merged in, affected or impaired by this Deed. Grantor hereby covenants to warrant and defend the said premises against the lawful claims of all persons whomsoever claiming by, through and under it. Dated this day of , 2023, at Dubuque, lowa. CITY OF DUBUQUE IOWA By: Brad M. Cavanagh, Mayor ATTEST: By: Adrienne N. Breitfelder, City Clerk STATE OF IOWA ) ) SS COUNTY OF DUBUQUE ) On this day of , 2021, before me a Notary Public in and for said County, personally appeared Bard M. Cavanagh and Adrienne N. Breitfelder to me personally known, who being duly sworn, did say that they are the Mayor and City Clerk, respectively of the City of Dubuque, lowa, a Municipal Corporation, created and existing under the laws of the State of lowa, and that the seal affixed to the foregoing instrument is the seal of said Municipal Corporation, and that said instrument was signed and sealed on behalf of said Municipal Corporation by authority and resolution of its City Council and said Mayor and City Clerk acknowledged said instrument to be the free act and deed of said Municipal Corporation by it voluntarily executed. Notary Public in and for Dubuque County, lowa Prepared By: Jtl� Connors, CitV of Dubuque 1340 Main S�. Dubuque IA 52001 (563) 589-4393 Return To: Jill Connors, Citv of Dubuque �300 Main St. �ubugue, !A 52401 (563} 58g-4393 RESOLUTION NO. 198-23 APPR4V#NG THE DISPOSAL OF AN INTEREST IN REAL PRQPERTY OWNED BY THE CITY OF DUBUQIIE BY SALE PUR�UANT TO A DEVEL4PMENT AGREEMENT WITH MCCOY GROUP, INC. WHEREAS, the City Cauncil of Dubuque, lowa, did on June 5, 2023, adopt an Amended and Restated Urban Renewa! Plan for the Greater powntown Urban Renewal District {"the Plan") for the Urban Renewal Area described therein; and WHEREAS, the City of D�b�que, lawa, is interested in st�mufating reinvestment in the Greater powntown Urban Renewak District; and WHEREAS,the Plan pro�ides, among other things, forthe d�sposition of properties for pri�ate de�elopment purposes; and WHEREAS, McCoy Group, Inc. s�bmitted to the City a pro�osal in the #orm of an offer to purchase {the "Development Agreement") for the purchase af certain City-owned reaf property hereinafter described (°the Property"), which Development Agreement proposes Merge, LLC w�ll undertaice the purchase of a buifding located at the carner af Bell Street and 6�'' Street as described therein, which Pro�erty is the real �s�ate consisting of approximately 0.7 acres shown on Exhibit A, and which Development Agreement requests that this Property be made available for sale as ra�idly as possible; and WHEREAS, lowa Code Chapter 403 authorizes cities to dispose of proper�y in furtheranc� of an urban renewal project and ta take other actions as may be necessary to carry ouf the purposes of said Chapter, and t1�e Plan similarly authorizes the City to dispose of property; and WHEREAS, in compliance with lowa Code Sec�ion 403.8, and fo the ext�nt r�quir�d by law, lowa Code Section 364,7, the City CounciE has set forth its proposal to dispose of 05122023ba1 its interests in the Property and the City Clerlc published a notice on May 19, 2�23 as requ�red by �aw soliciting competi�ive praposals for tf�e Property; and WHEREAS, as of 10:Oa a.m. on June 16, 2023 the City CEerk received no compe�iti�e propasafs for th� Property; and WHEREAS, fhe City Council believes it is in the �est interest of the City of Dubuque to ap�rove the Development Agreement propos�d by McCoy Group, Inc. and the sale of the Proper�y as pro�ided in the Development Agreement. NQW THEREFORE, BE IT RESOLVE� BY THE CITY COUNCIL OF THE CITY QF DIJBUQUE, IOWA: Section 1 . The Council finds that the transf�r of #he Proper�y will promote the purposes of the urban renewal {aw, lowa Code Ch. 4Q3 in the City and, together with the other cansideration provided for ir� the Agreement, that these benefits canstitute fair�alue far the City's disposal of interests in the Praperty under lowa Code Sectian 403.8. Section 2, The Development Agreement betweer� the City and McCoy Graup, inc. including the sale of the Praperty as pra�ided therein, is hereby approved. Section 3, The Mayor is authorized and directed to execute said Development Agreement on behalf of the City of Dubuque. Passed, appro�ed and adopted this 20t�' day of June, 2023. rad . C nagh, Mayor Attest: �� Adrienr�e N. Breitfel er, City Clerk 2 EXHIBIT A 3 ,: � : ,_ �� p. .�::�,�� , ,�� . a - . . _ _ . � � .:. `�`''°'s',.._ �_ � Y��F .��,,,� • . h.�. � - '`'-,''"'�+.K�� ''� � � � -� "*� _ . n. =s��c _ . ,L � � .. �.�r '�'4� `�• "� � : � �:.� '' � � ��,� � i ' �� '" `�.^ .7` � �.. �� — v. , _. �� -s,1 _ '.,,,� `i � cf'.� ...5"� * �.1 ,�,� ��^ J ;�1F�. r� R � � � `. � �� . �p 4 �� .. � � '� �, t _.._. � � . �� .r _ � _._ . .. . �� . � " f'.-�-C. �� ,S� . .�� ' �� ..� !$ '. ,� ' r . � � _ � .,["��t �� 'h -.E?i.�'. � �� . J. �. i� � � Y R' �. .��° ;X' * +r . . - a ..-•�'' r. ��`� � i,:� - � � � �� ' � � � .� � � � f . � x�' � � ' :. � , � t,� � ' � h.. �� ; ti� ,� � '�'_ = �� '� `�� ,�' ,l� Y �� s��. ' � * � -- , �++.,'��'�' "�'` �� y " ��r '�' . � ��' �' S �r� .� . ; �"� _ ,�.��4. .� . ' '� � � � � � t � � �. .� _ . "':- �, �' � 1' . �f _ �� ti . �� J ��. ° � 4 _,, .'�� ` , .7 �w � • � � �� ;�*. .� - � .. 4.. 't .. +� .� ., :. i�' J �_� ' �..- � t.ry . �M- II' - �� . �'� f ..f. J��i �t .!� � " �f � � � �"_ � T y ; dy� !4- �1l��.. �� .��.�� 4 � � �'�, ..'.-.��:s'r. e _ � � � -''., �r � 4 � i ' STATE OF IOWA SS: � DUBUQUE COUNTY � i ! CERTIFICATE OF PUSLICATIpN I, Kath}� Goetzinger, a Billing Cierk for Woodward Con.tr!Zu�?�catiai�s, Inc., an Iowa corporation, publisher ot the Telegra,�h Herald, a newspaper of gei�eral circulation published in the City of Dubuque, County of Dubuque and State of Iowa; hereby certify that the attached notice was pt�blished zn said newspaper an the following dates: QS/19/2023 j and for which the charge is 306.38 / ? ;, � - .1 . '' i �g �.._-, f�� ,�'�/�.... � �` L��. ��1 --��- /' �;/ Su6scribed to befo e me, a Notary Public in and for Dubuque Caunty, Iowa, this 19th day of May, 2023 � . � � Notary u ic in and for Dubuquc Cot nty, Iowa. 4l4��i 8� JAHET K. PAPE � Commissior�NurrEber 499859 z r My Cammission Expires ro w►: 12�1112025 � i 1 i .-. -. , ,, � �r �I �-- -' CITY OF DUBUQUE,IOWA 6)Approve and direcl publication of a notice to advise anybother person then be presented to the City Council at 6:30 p.m.,June 20,2023,at a meeting OFFICIAL NOTICE of the oppodunity[o compete for sale of the Property on the terms and co o�neid in the City Council Chambers,Historic Federal Building at 350 West � conddions set forth herein;and 6th Street,Dubuque,lowa � PUBLIC NOTICE is hereby given that rhe City Council of the City of I Du6uque,lowa..will hoid a public heanng on ihe 20^day of June,2023 at 7)Declare that in the event another qualified proposal is timely submitted Section 12.That 1he method of offering the Pmperty for sale as set forth 630 p.m.in the Historic Federal Building.350 West 6th Street,second floor, andaccepted,anotherand(uturenoticewillbepublishedontheintentofthe Dubuque,lowa,at which meeting the City Council proposes to dispose of an City to enter into the resulting contract,as required by law;and Whereas. herein is in substantial conformance wdh the provisions of Iowa Code Section interestby sale pursuantto a DevelopmentAgreement inthefollowing tlescribed the City Council believes it is in the best interest of the City and the Plan 403.8, requiring reasonable competdive bidding pmcedufes as are hereby real pmperty to McCoy Group.inc.a Wsconsin corporation with its pnncipal to act as ezpeditiously as possible to sell the Property as set forth heiein. Prescribed and'Yair value." piace of business in Du6uque,Iowa,or its Assignee(Developer); NOW,THEREFORE,BE IT RESOWED BY THE CITY COUNCIL OF THE Approximately 0.7 acres at the corner of Bell Street and 6"'SVeei CITY OF DUBU�UE,IOWA: Section 13.That the required documents for the submission of a proposal as shown on Exhibd A.The Development Agreement also provides for the� shall be in substantial conformiry with the provisions of this Resolution. issuance to Developer of Urban Renewal Tax Increment Revenue Grant Section 1.That the Property shown on ExhibitA attachetl hereto,shall be Section 14.That!he Ciry Clerk is hereby nominated and appointed as Obligations in the estimated amount of$276,444.At fhe meeting,ihe City oftered for sale in accordance wRh the terms and conditions contained in this �e agent of the City of Dubuque,lowa to receive proposals for lhe sale of the Council will receive oral and wtitten comments 6om any resident or property Resolution. Property on that date and according to the procedure hereinabove specified for owner of said Ciry to the above action.Written comments regarding}he above Sectioq 2. That it is hereby determined that in order to qualify for �eceipt of such propos�ls and to proceetl at such time to formally acknowledge public heanng may be submitted to the City Clerk's Office,Ciry Hall,50 W.13'" consideration for selection,any person must su6mit a proposal which meets Street,on or before said dme of public hearing.Copies of supporting documents these minimum requirements: receipt of each of such proposal by noting the receipt of same in the Minutes of for the public hearngs are on Ale in the City Clerk's Offce,and may be viewed the Council;that the City Manager is hereby authorized and tlirected to make dunng normal working hours.Individuals with limited English proficiency,vision. �0 Contains an agreement to purchase the Parking Property.shown on hearing or speech impairments requiring special assistance should contact ExhibitA,at not less than fair market value,which for the purposes of this preliminary analysis of each such proposal for compliance with the minimum the Ciry Clerk's Office at(563)589-4100.TDD(563)690.6678,cryclerk@ resolution is hereby determined to be One Million One Hundred Thousand requirements esta6lished by this Council hereinabove.For each proposal that cityofdubuque.org as soon as feasible.Deaf or hard-of-heanng individuals can &00l100 Dollars($1,100,000.00)and to provide for public parking on the satisfes these requirements,the City Council shall judge the strength of the use Relay lowa by dialing 711 or(600)735-2942. Parking Propertyl proposal by the competitive criteria established hereina6ove.The City Council Dated this 15th"day of May,2023.Adrienne N.Breittelder,CMG City Clerk 2)Sets out or provides to the satisfaction of the City Council the ezperience shall then make the final evaluation and selection of the proposals. OFFICIAL NOTICE of the principals and key staff who are directly engaged in the performance RESOLUTION NO. '156-23 RESOLUTION (1) APPROVING THE of contractobligations in carrying outprojects of simila!scale and character. Section 15. If, and only rf, competing proposals are received and MINIMUM REQUIREMENTS, COMPETITIVE CRITERIA,AND OFFERING and determined by the Council to meet the minimum requirements described herein, PROCEDURES FOR THE DEVELOPMENT AND THE SALE OF CERTAIN 4)Meets,at a minimum,the terms and conditions of the Development the Developer shall be allowed to amend its proposai in response thereto and REAL PROPERTY AND IMPROVEMENTS IN THE GREATER DOWNTOWN Agreement submmed by the Developer including an agreement to create to deliver same to the City Manager,by no later than a date determined by the URBAN RENEWAL DISTRICT; (2) DETERMINING THAT THE OFFER and maintain Eighteen (78) adddional FTE employees employed by City Council.In such event,the Council shall schedule a subsequent meeting to TO PURCHASE SUBMITTE�BY MCCOY GROUP,INC.SATISFIES THE Developer or itsAffliatels by Octo6er 1,2025 antl during the remaining term OFFERING REQUIREMENTS WITH RESPECT TO THE REAL PROPERTY ot the agreement for a total of Two Hundred Siuty-Six(266)FTE employees be held by the City Manager at which there shall be a bid-off conducted by the AND IMPROVEMENTS AND DECLARING THE INTEN7 DF THE CITY in the ciry of Dubuque,lowa.Sedion 3.That the Development Agreement City Managec Dunng such bid-ofr,each competing bidder shall bitl against the - COUNGL 70 APPROVE 7HE SALE 70 MCCOYGROUP, INC.IN THE by and between the Ciry and ihe Developer be and is hereby approved as other,starting with the second proposal received and continuing until such time EVENT THAT NO COMPETING PROPO5ALS ARE SUBMITTED;AND(3) to form for the purposes hereinafter stated. as each bitltler shall decline[o improve i[s proposal to acquire and retlevelop SOLICITING COMPETING PROPOSALS � Section 4.That for Ute purpose of defning the otFering of the Property for the Property shown on ExhibRA in response to the last bid of the othet bidder or Whereas.the City Council of Dubuque,lowa,did on May 1,2023 adopt an sale,said Development Agreement shall be deemed to be illustretive of the bidders.The penod of time to be allowed tor such bid-off shall be determined 6y Amended and Restated Urban Renewal Plan for the Greater powntown Urban tertns acceptable to the Ciry with respect to: the City Managec The rules of such bid-off shall be as detertnined by the Ciry Renewal Distnct('Yhe Plan")for the Urban Renewal Area descri6ed therein;and � Whereas.the Plan provides,among otherthings,for the disposRion of properties 1)Developer and City obligations;and Manager at or before such bid-off period and shall be absolute. for private development pwposes as a proposed economic development action; 2�General terms and conditions. Section i6.That in ihe event another qual�ed proposal is timely submiited ' and Section 5.That the Development Agreement submitted by the Developer and accepted by the City,another antl further notice shall be published of the Whereas,McCoy Group.Inc("Develope�')has submittetl to ttie City a satisfies!he requirements of this o5fering and,in ihe eventthat no other qualifed proposal in the form of an ofrer to purchase(the"Development AgreemenY') intent of the City of Dubuque,lowa,to enter into the resutting agreement,as proposals are timely su6mitted,that the City Council intends to accept and required 6y law. for the purchase of certain City-owned reai property hereinafter describetl approvetheDevelopmentAgreement. ("the Property"),which Develapmeni Agreement proposes the Developer will � EXHIBITA � undertake the purchase of a builtling located at the comer of Bell Street and Section 6.That d is hereby determined that the Developer possesses the East 6'"Street as described therein,which Property is the real estate consisting qualifications,financial resources and Iegal ability necessary to purchase the - of approximately 07 acres shown on 6chibd A, and which Development Pmperty shown on ExhibdAand to construd,manage and operete the site in[he ��a..� ,k� � -.,., Agreement requests that this Property be made availabie for sale as rapidly as manner proposed by this ofrering in accordance with the Plan. �"�°"\^`� ��^�.,,� w possible;and Sectlon 7.Thatthe City Clerk shall receive and retain for public examina4on ' �� Whereas,in order to esia6lish reasonably competitive bidding procedures the attached Development Agreement submitted by the Developer and in the �9 � � for ihe disposition of the Property in accortlance with the statutory requiremenis event no other qualifed proposals are timely submitted,shall resubmd the �. _ �� „ �� of lowa Code Chapter 403,specifcally,Section 403.8,and to assure that the Development Agreement to the City Council fcr fnal�approval and execution -`� �:� �� , � �� Ciry extends a full and fair opportunity to all developers interested in su6mitting upon expiration of the notice hereinafter prescribed. _ . �-� .� Z� a proposal,a summary of submission requirements and minimum requirements Section 8.That the action of the City Council be considered to be and . - - gg�00� y� , and competitive criteria for the Property ofFering is included herein:and does here6y consMute notice to all concemed of the inten6on of this Counr,il. �� ... � „ Whereas.said Developer has signed a Development Agreement with the in?he event that no other qualfied proposals are timely submitted,to accept �.� �;^ a � �"�- City,currently on file at the Office of the City Clerk;and Whereas,to recognize the proposal of the Developer to purchase the Property shown on Exhi6it A and �.;y q �`A�� both the firm proposal for sale of the Property and improvements already to approve the Development Agreement by and belween City and Developer. � �? � -�� received by the City in the form of the Development Agreement,as described Sec6on 9.That the official notice of this oNering and of the intent of the City, �7}C�','�' � �'>, � �� above,and to give full and fair oppoRunity to other developers interested�n in the event no other qualified proposals are timely submittetl,to approve the / �'> � � submitting a proposal for the sale and development of the Property,this Council DevelopmentAgreement,shall be a true copy of this Resolution.but without the- � ��"+- <;: - �T- should by this Resolution: attachments referred to herein. �^ �. 1)Set the Fair market vaWe of the Property for uses in accordance wdh the Plan; 4��'' �� Section 1�. That the City Cierk is authorized and directed to secure �!-� 2)Approve the minimum requiremen[s and competi6ve critena included herein; immediate ublication ofsaid official notice in theTelegraph Herald a newspaper � �"�- �� P ^� so� 3..,�A.. +�e �i� / having a general circulation in the community,6y pubhcahon of the tezt of this - � 3)Approve as to form the Development Agreement: ResoWtion on or before the 19'"tlay of May,2023. . 4)Set a date for receipt of competing proposals and the opening thereof; Sedion 1t That written pmposals for the sale of the Property shown on Passed,approved antl adopted this 15'"day of May,2D23. � - 5)Declare that the proposal submitted by Developer satisfes the minimum Exhi6R A will be received by the Ciry Clerk at or before 10:00 a.m.,Juna 16. lsfBrad M.Cavanagh,Mayor ' requirements ofthe o8enng,and that in the event no other qualified proposal 2023 in the Office of ihe City Clerk,locat P oP ihe first floor at City Hall,50 West Attest:ls/Adrienne N.Breitfelder,City Clerk is timely submitted,that the City Council intends to accept such proposal 13°i Street.Dubuque,lowa 52001.Each ro osal will be opened at the hour oi and authonze the City Manager to sign the Development Agreemenk 70:00 a.m.in City Hall,Dubuque,Iowa on June 16,2023.Said pmposals will 1t 5l19 atlno=3a2E06