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Proposed Downtown Urban Renewal District Housing Incentive Copyrighted August 21, 2023 City of Dubuque Action Items # 07. City Council Meeting ITEM TITLE: Proposed Downtown Urban Renewal District Housing Incentive SUM MARY: City Manager recommending City Council approve the proposed Downtown Urban Renewal District Housing incentive which will offer the choice between 10 years of property Tax Abatement followed by 5 years of Tax Increment Financing (TIF) or 15 years of Tax Increment Financing. SUGGESTED Suggested Disposition: Receive and File;Approve DISPOSITION: ATTACHMENTS: Description Type MVM Memo City Manager Memo Staff Memo Staff Memo Sept 2022 Approved Housing I ncentives Supporting Documentation Map of Greater powntown Urban Renewal Area Supporting Documentation Housing Incentives Brochure 070723 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: Proposed Downtown Urban Renewal District Housing Incentive DATE: August 15, 2023 Economic Development Director Jill Connors is recommending City Council approve the proposed Downtown Urban Renewal District Housing incentive which will offer the choice between 10 years of property Tax Abatement followed by 5 years of Tax Increment Financing (TIF) or 15 years of Tax Increment Financing. In 2022 the Greater Dubuque Development Corporation conducted a housing needs study. The study showed that the City of Dubuque would be short approximately 1,100 housing units by 2030. In August, 2022 at the annual goal setting process the City Council included housing creation as a City Council priority. In September 2022, the City Council approved a slate of housing incentives that are attached to this memo for reference. Those incentives took into consideration such factors as whether a project was located in an existing urban revitalization district or a new one, and whether the project was creating market rate or affordable units. The City of Dubuque now has over 1,700 housing units on the drawing board at different stages of implementation. Beginning just over 10 years ago, several projects in the downtown area such as Caradco, Linseed, Novelty Iron Works, Franklin School, and Merge were initially offered 10 years of TIF rebates for the creation of housing, but the developers soon realized that this was not enough assistance to make the projects successful. In response to this need, the City Council approved amendments that increased the number to 15 years of TIF rebates. These were addressed on a case-by-case basis. Recent development agreements for downtown housing have reverted back to 10 years of TIF, and many projects have opted for 10 years of tax abatement instead, since this is currently a more generous incentive than TIF rebates. Tax abatement was not available to the above-mentioned projects since they were not located in an urban revitalization area at the time of the agreement. In ongoing review of our work, it has come to our attention that communities in lowa that are having success attracting housing developers are providing additional incentives compared to the menu of incentive options approved by the City Council in September. To more rapidly address Dubuque's lack of housing options, Economic Development Director Jill Connors is recommending adding to the Downtown Slum and Blight Urban Renewal District an added incentive that would offer the choice between 10 years of tax abatement followed by 5 years of TIF rebates — or— 15 years of TIF rebates. This formalizes the past practice of providing 15 years of TIF rebates to these Downtown Urban Renewal District housing creation projects. This incentive would be available to projects regardless of rent rates but would in any case prohibit discrimination based on source of income. We know that downtown living is key to creating a thriving community which attracts families and a workforce, as well as to creating a more environmentally sustainable community. To that end, Jill Connors is proposing that this program be limited to the Greater powntown Urban Renewal Area. Accelerating efforts downtown will also make use of the numerous vacant buildings and infill sites. The Governor has recently signed into law HF 718 which affects the future level of tax abatement available to a developer. As this has created some uncertainty as to whether tax abatement or TIF rebates are more beneficial to a project, I believe it is advantageous to offer the choice between 10 years of abatement followed by 5 years of TIF or 15 years of TIF. The developer would weigh the risks and possible rewards of each option and indicate their preference to the Economic Development department for inclusion in the development agreement. This program enhancement will continue to aggressively address Dubuque's lack of sufficient housing stock at all price points, which is a barrier to both workforce and population growth, and specifically in the downtown core. The city will continue to offer fa�ade rebates, help with architectural and engineering costs and the expenses of financial planning. In addition the city offers other incentives, including, but not limited to, land discounts and $10,000 per housing unit created in the Downtown Urban Renewal District. Developers also routinely access Federal Historic Tax Credits, State Historic Tax Credits and Low Income Housing Tax Credits. The city also invests significantly in downtown public improvement projects, parking creation, transit services and infrastructure upgrades. 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 2 Jill Connors, Economic Development Director 3 Dubuque Economic Development Department THE CITY OF �' 1300 Main Street All-America City Dubuque,lowa 52001-4763 U� � ""��'��"''� ��" Office(563)589-4393 � � TTY(563)690-6678 � http://www.cityofdubuque.org 2007*2012*20�.3 Masterpiece on the Mississippi zoi�*zoig TO: Michael C. Van Milligen, City Manager FROM: Jill M. Connors, Economic Development Director SUBJECT: Proposed Additional Housing Development Incentive DATE: August 10, 2023 INTRODUCTION This memorandum presents for review and approval an additional incentive for the downtown area in order to facilitate housing development in our urban core. BACKGROUND In 2009, the City Council approved the Downtown Housing Incentive program. The goal of this program is to encourage market-rate downtown rental and promote housing growth in the area. Since inception, the program has successfully incentivized over 690 rental units in the Greater powntown Area. In November 2019, the City Council approved expanding the Dubuque Urban Revitalization Area to support economic development and affordable housing projects. This expanded District was largely within the Greater powntown Area as it contained some of the oldest structures in Dubuque, historically significant properties, and a majority of area residents lived below the median family income. Despite these strong incentives geared toward promoting market-rate and affordable housing creation, the demand for housing in Dubuque continued to exceed housing creation. In 2022 the Greater Dubuque Development Corporation conducted a housing needs study. The study showed that the City of Dubuque would be short approximately 1,100 housing units by 2030. In August, 2022 at the annual goal setting process the City Council identified housing creation as a City Council priority. In September 2022, the City Council approved a slate of housing incentives that are attached to this memo for reference. Those incentives took into consideration such factors as whether a project was located in an existing urban revitalization district or a new one, and whether the project was creating market rate or affordable units. Beginning just over 10 years ago, several projects in the downtown area such as Caradco, Linseed, Novelty Iron Works, Franklin School, and Merge were initially offered 10 years of TIF rebates for the creation of housing, but the developers soon realized that this was not enough assistance to make the projects successful. In response to this need, the City Council approved amendments that increased the number to 15 years of TIF rebates. These were addressed on a case-by-case basis. Recent development agreements for downtown housing have reverted back to 10 years of TIF, and many projects have opted for 10 years of tax abatement instead, since this is currently a more generous incentive than TIF rebates. Tax abatement was not available to the above-mentioned projects since they were not located in an urban revitalization area at the time of the agreement, thus the provision of TIF rebates. DISCUSSION In ongoing review of our work, it has come to our attention that communities in lowa that are having success attracting housing developers are providing additional incentives compared to the menu of incentive options approved by the City Council in September. To more rapidly address Dubuque's lack of housing options, I propose adding one more "tool in the toolkit". The proposed incentive would offer the choice between 10 years of tax abatement followed by 5 years of TIF rebates — or — 15 years of TIF rebates. This formalizes the past practice of providing 15 years of TIF rebates to housing creation projects. This incentive would be available to projects regardless of rent rates but would in any case prohibit discrimination based on source of income. We know that downtown living is key to creating a thriving community which attracts families and a workforce, as well as to creating a more environmentally sustainable community. To that end, I propose that this program be limited to the Greater Downtown Urban Renewal Area (map attached). Accelerating our efforts downtown will also make use of the numerous vacant buildings and infill sites. The Governor has recently signed into law HF 718 which affects the future level of tax abatement available to a developer. As this has created some uncertainty as to whether tax abatement or TIF rebates are more beneficial to a project, I believe it is 2 advantageous to offer the choice between 10 years of abatement followed by 5 years of TIF or 15 years of TIF. The developer would weigh the risks and possible rewards of each option and indicate their preference to our office for inclusion in the development agreement. RECOMMENDATION/ ACTION STEP In order to continue to aggressively address Dubuque's lack of sufficient housing stock at all price points, which is a barrier to both workforce and population growth, and specifically in our downtown core, I respectfully request approval to proceed with the housing incentive described above. 3 Housing Creation Incentives Urban Renewal & Urban Revitalization For Council Consideration September 6, 2022 *All incentives are for residential portions of a development only. Any public improvements serving non-residential purposes are ineligible for these incentives. Urban Revitalization - Tax Abatement Development Type New Area Affordable Multi-Family Development Housing Type Apartment/Townhouse Use Residential Only, Non-residential is not eligible Incentive 100% Tax Abatement on Increased Valuation Term 10 Years Requirements Must Accept Housing Choice Vouchers Eligible Cost N/A - tax abatement, not reimbursement Approval Subject to City Council Approval Development Type Existing Revitalization Area Residential Rehabilitation Housing Type All Residential, Commercial if 75% of building is Residential* Use Residential Only, Non-residential is not eligible Incentive 100% Tax Abatement on Increased Valuation Term 10 Years Requirements Must increase value by 10% Eligible Cost N/A - tax abatement, not reimbursement Approval Confirmation of Improvements and Certification by Council *Commercial portion of a building is not eligible for tax abatement 1 � ge Development Type Residential Units with No/Limited Public Improvements Housing Type Owner-Occupied, Attached/Detached Single-Family Home Multi-Family Apartment— Market Rate Use Residential Only, Non-residential is not eligible Incentive Decreasing % of Tax Abatement over 10 years For the first year, eighty percent. For the second year, seventy percent. For the third year, sixty percent. For the fourth year, fifty percent. For the fifth year, forty percent. For the sixth year, forty percent. For the seventh year, thirty percent. For the eighth year, thirty percent. For the ninth year, twenty percent. For the tenth year, twenty percent -o r- 100% Tax Abatement for 3 years -o r- 115% Tax Abatement up to $20,000 in increased valuation for 10 years. Amount cannot fall below the homestead credit valuation. Requirement Accept Housing Choice Vouchers Eligible Costs N/A—Tax Abatement, not Reimbursement Approval Subject to City Council Approval / 2 � ge Urban Renewal — Housing Tax Increment Financing Development Type Market Rate Residential Subdivision, Multi-Family Units Housing Type Owner-Occupied, Attached/Detached Single-Family Home, Multi-Family Units/Apartments Use Residential Only, Non-residential is not eligible Incentive 100% Tax Increment generated by the development minus Affordable Housing Percentage, Dubuque Community School District and Northeast lowa Community College instructional support levy (ISL), Dubuque Community School District Physical Plant and Equipment Levy (PPEL), general fund debt payments, etc. Term 10 Years Requirement Installation of Fiber Conduit, Accept Housing Choice Vouchers Eligible Costs Public Improvements Approval Subject to City Council Approval Development Type Mixed-Income Residential Subdivision Housing Type Owner-Occupied, Attached/Detached Single-Family Home Multi-Family Apartment Use Residential Only, Non-residential is not eligible Incentive 100% Tax Increment generated by the development minus Affordable Housing Percentage, Dubuque Community School District and Northeast lowa Community College instructional support levy (ISL), Dubuque Community School District Physical Plant and Equipment Levy (PPEL), general fund debt payments, etc. also Negotiated % of Tax Increment that is captured for Affordable Housing for creation of units that are affordable Term 10 Years Requirement Installation of Fiber Conduit, Accept Housing Choice Vouchers Eligible Costs Public Improvements Approval Subject to City Council Approval 3 � Page . � . � � � . . ,�-_� __ . . _ -- _ _ � . _ , _ - _ '_► '� � i . t .�. . <1 ,� _.� � f ;: _ . - _ _ � � � • _ . . � ! �;. 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''� .. . � — � ��: I � �� S � N v � _ I � �• 1 -■ � � - - ��' � } -__ _ _ _ _ - (_ � Increasing opportunities for quality, affordable housing in Dubuque � - _:�A :-,�. 0 0 . . . . - . . - - � �r SCAN ME , �� - �� - � � �� , � �` � 5�,e ,��.., �; ,- � _ � . ;��.�� , , �.. f � F; � __ . 1, . „T ��. � � (/ - ''� _ �' 1'�'��lii��i� _ I�f �t � � - ' - � ��'�• �qy`ill I''rl � �'��.�.`If`��II C�� ' ' � :ir`r � �'� "` Isr rl� j ,I�� `', {�'. i , ' - �. . � llj [ � � . ..� ' . . —_ � � ✓ _:- _ �- , v _ _�:��;.� - _ ... :-��_��. ` �Af'' M'�� '� _ '� �� - . . - i � . :..�� -�.�� `� -� - r�, - ,s, _�_ _ - -� .. , � _ �' _ _ . �� ' � QUALITY, AFFORDABLE HOUSING - �: i AND ITS IMPACT ON DUBUQUE :�;� �1 T � As a high priority of the Dubuque City Council Affordable housing promotes economic � � ' �, and component of the City's Equitable stability, health and well-being, education, �.—;�,� �. Poverty Reduction and Prevention Plan, the community development, social equity, poverty -_ City of Dubuque offers a variety of financial alleviation, and resilience. By addressing ' �� resources to encourage property owners housing affordability, communities can support �� to create and maintain quality, affordable their residents'overall well-being, and create a housing in Dubuque. more prosperous and sustainable future. The City of Dubuque offers a variety of resources to homeowners, commercial property owners, and rental property owners. Use the incentives map to learn more about these programs and determine your property's eligibility. � �, . � s'- � ` o' _ � www.cit �uque.org/incentives Dubuque's local incentive programs can be combined with State and Federal programs - helping your business make the most of its resources. The lowa Economic Development Authority administers The U.S. Environmental Protection Agency (EPA) several programs to assist individuals, communities, and administers programs that offer support to projects that businesses in business and community development. protect and better human health and the environment. Learn more at www.iowaeda.com Learn more at www.epa.gov The lowa Finance Authority administers programs that The U.S. Department of Housing and Urban Development provide affordable financing resources for individuals and (HUD) administers programs that offer support to projects their goals, from mortgage or down payment assistance that create strong, sustainable, inclusive communities and rental programs that provide affordable homes, to and quality affordable homes for all. low-cost funds for drinking water, help for beginning Learn more at www.hud.gov farmers and more. Learn more at www.iowafinance.com/ The U.S. Department of Commerce administers programs programs-for-property-developers/ that offer support to projects that create the conditions for economic growth and opportunity. The State Historical Society of lowa administers programs Learn more at www.commerce.gov that helps preserve and bring new life to lowa's history. Learn more at iowaculture.gov/history LOCAL MU LTI - RESI DENTIAL / RENTAL PROPERTY I NCENTIVE PROGRAMS Department contact information: � Economic Development Housing &Community Development � Planning Services 563.589.4393 563.589.4230 563.589.4210 www.cityofdubuque.org/econdev www.cityofdubuque.org/housing www.cityofdubuque.org/planning � Downtown Housing Incentive To qualify,a project must assist in the creation of new market-rate downtown rental units within the Greater powntown Urban Renewal District.The project must be a rehabilitation of an existing structure and located above the commercial component on the first floor of the building unless the project is rehabilitating or reusing a former church or school building.Maximum of$10,000 per unit. � Fa�ade Grant A maximum of a$10,0001:1 matching grant is available to provide assistance on labor or material costs for front fa�ade renovations to restore a building's historic appearance or eliminate inappropriate additions or alterations to improve overall appearance.Property must be located in Greater powntown Urban Renewal District. � Financial Consultant Grant A maximum of a$15,0001:1 matching grant is available to provide assistance on hiring a financial consultant used to analyze the feasibility of a project.Property must be located in Greater powntown Urban Renewal District. Healthy Homes Program Program participants may qualify for up to$10,000 to create a healthier home OR up to$20,000 for lead remediation plus an additional$5,000 for other household hazards.The program addresses household hazards including mold,water intrusion, lead paint,allergens,asthma,carbon monoxide, home safety, pesticides,and radon. Available to low-to moderate-income residents, both renters and homeowners. � Historic Preservation Revolving Loan Fund Program Program participants may qualify for up to a$25,000 loan.Property must be at least 50 years old and designated as a City Landmark,or individual historic property,or located in the following Historic Preservation Districts:Jackson Park, Cathedral,W. llth Street, Langworthy,or Old Main.This loan fund provides positive incentives to owners of these historic properties to maintain and improve the community's architectural heritage. � Planning&Design Grant A maximum of a ten thousand dollar($10,000) 1:1 matching grant is available to provide assistance on pre-development costs associated with a project.Property must be located in Greater powntown Urban Renewal District. � Urban Renewal Housing Tax Increment Financing(TIF) Tax-increment financing(TIF) is an important and flexible tool used in communities for three main purposes: promoting economic development,eliminating slum and blight,and facilitating housing development. • Market Rate Residential Subdivision, Multi-Family Units Owner-occupied,attached/detached single-family home, multi-family units/apartments.Requirements: installation of fiber conduit,accept housing choice vouchers.Term: 10 years. • Mixed-Income Residential Subdivision Owner-occupied,attached/detached single-family home, multi-family apartments. Requirements: installation of fiber conduit,accept housing choice vouchers.Term: 10 years. Urban Revitalization Program(Tax Abatement) Encourages the revitalization of buildings in the community's older neighborhoods by offering a property tax exemption for new improvements made to qualified residential and commercially assessed properties. • New Area Multi-Family Development Apartment/Townhouse. Requirement: must accept housing choice vouchers.Term: up to 10 years. • Existing Revitalization Area Residential Rehabilitation All residential. Requirement: must increase value by 10%.Term: 10 years. LOCAL HOMEOWN ER INCENTIVE PROGRAMS Department contact information: Housing &Community Development � Planning Services 563.589.4230 563.589.4210 www.cityofdubuque.org/housing www.cityofdubuque.org/planning First-Time Homebuyer Loan Program This City of Dubuque Housing&Community Development program provides long-term, no- interest(0%),$5,000 loans to help an income-qualified resident purchase a first home at any location within the City of Dubuque limits. Healthy Homes Program Program participants may qualify for up to$10,000 to create a healthier home OR up to$20,000 for lead remediation plus an additional$5,000 for other household hazards. The program addresses household hazards including mold,water intrusion, lead paint, allergens,asthma,carbon monoxide, home safety, pesticides,and radon. Available to low- to moderate-income residents, both renters and homeowners. � Historic Preservation Revolving Loan Fund Program Program participants may qualify for up to a$25,000 loan.Property must be at least 50 years old and designated as a City Landmark,or individual historic property,or located in the following Historic Preservation Districts:Jackson Park,Cathedral,W. llth Street, Langworthy,or Old Main.This loan fund provides positive incentives to owners of these historic properties to maintain and improve the community's architectural heritage. Homeowner Rehabilitation Loan Program Provides low-interest, long-term, loans up to$25,000,to homeowners to rehabilitate their properties.The home must be code-compliant,and the project must be finished in its entirety upon completion of work performed with loan funds.Owner-occupied,single-family home,or duplex in the City of Dubuque,with qualifying households earning no more than 80%of area median income. Housing Choice Voucher Homebuyer Program This HUD program assists housing choice voucher participants in purchasing a home. It is similar to the rental voucher program, but instead of payments going to a landlord, payments go to a mortgage lender. Urban Revitalization Program(Tax Abatement) . Encourages the revitalization of buildings in the community's older neighborhoods by offering a property tax exemption for new improvements made to qualified resitlential and commercially assessed properties. Washington Neighborhood Homebuyer Loan Program Program provides long-term, no-interest(0%), loans in varying amounts based on household size antl annual income to any owner-occupied,single family or duplex home in the Washington Neighborhood(llth Street to 32nd Street, Elm to Central). Washington Neighborhood Homeowner Rehabilitation Loan Program Program provides low-interest, long-term loans, up to$25,000,to homeowners to rehabilitate their properties for any owner-occupied,single family or duplex home in the Washington Neighborhood (l lth Street to 32nd Street, Elm to Central). r.,,, -.. �:.: .. _ �� -_ -�-. • f . _� - - . � _ ._ _ . = .� _ - - _ .,.� : �_.,�� -�.....� -��:� :.- -- --�� '_. r, .+,�. '�� _. � _. ;.� :_� ,,�� -�� -�� p ._ i. � ��, � '"` ��'r �' r� �, � �:. �.� - � ��. �.. �°- �.v' ti�W4' �;�� ,-�- � _ . ` v� �� - - r - �� -:..��„ �w �,. _ so � � � .. � - .__. •"� . � _ ,..� �. . . —n �' � � r - � �l '�.- ' �` , R'^�,I '��; �_� � �.- .i �l �� `-- �,�---,ti� } �„ . �5 � h �� +.■. , t'41E'�' � [ ,�i� � �� r�— '�y� — - �. �� S� 1.,;� f 1- �j�� . - �`��. . � �_� � � - " a� A � -- .�� '._. -� ,,� , � .'�� -' ` � ;d.c�,,. _ .. . ,� . �-. 14. .,�_�,,. `� .�.. � � �� . . _ �� , . ,'�'.�'t.�� ' �..X . � �� , -�.r � m _ ..�r .i�'�7� 'q,_... .. �'�ii. � .,� s ! � � ��t.Y.i�� - .. . , , ...h:�' '. ..,.. .. .�A:. -.x . , w.. �..�e_ ,+w,r` �ry�,..� ..'�.-, WHAT IS TAX-INCREMENT FINANCING (TIF)? Tax-increment financing (TIF) is an important and flexible tool used in communities for three main purposes: promoting economic development, eliminating slum and blight, and facilitating housing development. When a TIF district is created, a "base"valuation of the property value � � � is established.The base valuation accounts for assessed values prior to EXAM PLE the TIF designation.The tax revenue s,,0°°••••-•-•-•-•-•-•-••••••-•-•-•-•-•-•-•-••••••-•-•-•-•-•-•-••••••-•-•-•-•' from this base value remains with z all taxing authorities. Increases in o the assessed value over time over J and above the base are called the > '' r • � "increment."The TIF authority(in this � ' ' ' a TAX WCREMENT • ' CqS@� the City of Dubuque) may access � GENERATEDOVERTIME •' a the tax revenue generated by the increment, to fulfill the designated purpose of the district. $10° . TODAY END OF TIF STARTS TIME TIF HOW IS TIF USED BY CITIES? TIF is typically used by cities to fund public improvement projects or private project-based financial assistance, in conjunction with developing or For more information on Dubuque's redeveloping different parts of a city. This may include upgrading areas of the Housing TIF Districts,contact the City city suffering from slum and blight, helping residential development efforts, of Dubuque Economic Development and enhancing economic development activities. Depending on the size of the Department: 563.589.4393 project, cities may use the annual increment to provide project funding or may econdev@cityofdubuque.org need to incur debt to finance an improvement, such as installing infrastructure. � _ � ,� � , ( � , f - r ��"�E� �✓' p ��-'��w—�— �3� /�-i �d �A I� � Il / _ '�� 1 r —_ �a -.. . .:a�' f f ,_ p - � � �.i � �S(��-✓,; _ � -��_� � � � '. ,�,i .�Y � _ ... �" �� ;:� .,�� b. �{�B� �� 1�:,,, � 1: -� � � � `� �r l � S� .� w � £'� k // �A� r�5' , �� _ � � � � '� _ T � �� v b l. _ , � �_ � IC_� �—. ��. i�� ,�"� � ��y � �� p v � � y � r �' i�� ' i F� �'� � � ��ti;, - _; , I � �_ r. � �,�—= ��,,, '-- `'� ' � .�a G � ' %.r, _�� ,.� . � ,�� if -v. � , r � �N`x��, .� - �"�'�'�� Y`�7,��f� _ `•:°' � . - `t r- - - _- 4 ��; � - - ��y �x � ` � �r�� / . i.�� — � <'f �� efY�3 y -�...�� N� I ��'� l% '� � - 1�, ;+�-�., � ; - — i � �rii� �3��y, ^� p . �- � x�. � - y r` � i — �� '16. �I � ,'r � �_ .�S;'``s. j — � _ � .�FM'_�Tmj).l, �. ��'. _ �- ? -.� �_ i � — �cr ..l �"- -�s'� �� - . — ._- . [II��. . 1 — A� - _ — � h, � ;t , � —— _ `f I �_ :. ' .� ti:.. � — __ �I f - 6 , :Y y�- . �I � i � , s t ` _� " � F`_ -� `r�i' � f � y�;� _ � �;" �>'. — E �,.�� z' , � � �"!�� r �, F i �'�ia �,i � � � y _ � ,s�� , ,� I�,I_ �_ � � ,+`�4: +k� d��f_ �, .,__ � � rf ti t�' - I�� '.wi�:��.+ifi�.�'�k'8� . ��/� . .. @�.'r;'1 1� a�'�,'e\,r,�R�, _ ��1. TIF FOR HOUSING INFRASTRUCTURE Cities can use Tax Increment Financing(TIF)to pay the cost of Housing TIF Districts support reinvestment antl redevelopment • streets, activities in the urban renewal area and support revitalization • water, within the area and the community for low-and motlerate-income • sanitary and storm sewers, families.Cities can establish Housing TIF Districts within their • parks, corporate limits antl within two miles of their corporate boundaries • trails,and with the consent of the County Boartl of Supervisors. • related public improvements for new housing tlevelopment by creating Housing TIF Districts. Housing TIF in Dubuque The City of Dubuque's use of Housing TIF is a Dubuque City Council priority. The City Council's 15-year vision statement for Dubuque calls for a "strong, diverse economy and expanding connectivity" and "choices of quality, livable neighborhoods." Using Housing TIF enables Dubuque to implement projects to pursue that vision and support workforce retention and development, increase the local tax base, and address the city and school district's stagnant population growth. i ` � :�� - � - _ — _- �� 4 , By state law, when TIF is used for housing development, •�� =- , � approximately 38 percent of the future tax increment revenues , � _ � � , � M p ' ' = from the project must be used to provide housing assistance to �-�--��--�-- _��' _- low- and moderate-income families whose incomes are no greater ' .., ,� _ , { _ �� than 80 percent of the median income anywhere in the city. This _ � � � �I � '� , _ �. , -- is starter housing for Dubuque's current and future workforce, and „'�— "�, ` -- ._ - � � our most vulnerable residents, the elderly and disabled. -_ ---- - Initial plans call for much of the affordable housing assistance Before and after photos of a housing rehabilitation project to be provided in downtown neighborhoods through the City's CHANGE (Comprehensive Housing Activities for Neighborhood Growth & Enrichment) Program. From 2016-2023, Dubuque's six Housing TIF districts are projected to generate $3.1 million for affordable housing Dubuque's TIF Districts The City of Dubuque has created six Housing TIF Districts, all with Dubuque County's consent. The Timber Hyrst Housing TIF District was formed in 2014 to promote additional Sky Blue Estates Housing TIF District is intended to generate funds for improved residential options in Timber Hyrst Subdivision in the city,by assisting with the roatls antl utilities in the Area,specifically,utility improvements and the addition funding of road and utility improvements along portions of North Cascade Road. of a water tower.Funtling generatetl in the Area also assists with Low and These improvements are facilitating safer travel along the roatl that serves as a Moderate Income(LMI)family housing anywhere within the City of Dubuque. main artery from the city of Dubuque to the Southwest Arterial by straightening some of the curves on North Cascade Road in both the city and the county. It has North Grandview Estates Housing TIF District is intended to generate funds for also allowed the City to install some needed water,sanitary,and storm sewer the development of a residential district(North Grandview Estates Subdivision) infrastructure. and infrastructure improvements including installation of fiber conduit and vaults,a retaining wall,a curb untlertlrain,and portions of trail development The English Ridge Housing TIF District was formed in 2015 to promote the from the subdivision to the Bee Branch 32nd Street Detention Basin.Funding creation of atlditional residential options in Dubuque,as well as to provide generated in the Area also assists Low and Moderate Income(LMI)housing funding for water main installation. anywhere within the City of Dubuque. The South Pointe Housing TIF District is intended to generate funds for improved Each of these Housing TIF Districts has an Urban Renewal Plan that describes roads and utilities in the designated area,as well as provide funding to assist the specific use of tax increment funds,such as provitling tax rebates,installing with affordable housing anywhere within the city of Dubuque. public infrastructure,or other planned expenditures. These Housing TIF Districts, consistent with state law,currently set aside approximately 38 percent of project The Rustic Point Housing TIF District is intended to generate funds for the cost increment,thus providing funding for the benefit of low-and moderate- installation of sewer and water utilities related to housing and residential income family housing opportunities anywhere in the city of Dubuque. development,as well as supporting affordable housing anywhere within the city. I�Housin TIF District Location� � � O ' � h � � i� � . � , . ' �� ■ 1 ` : ` � '1� ! '� � � r� � �`'� M • �� . � 1 1 I � Is: �� :� �� F = , � � �- .�� , � �� -�� J � ��, �.-, � ��; � �, - �. ;. . � ,� � � � - _ . � � }�� y . _ �` ,!� r` � 1 ' � � � � � / \ �� " (l�� I 1 � '� �� J� u�� iF �� f/ r � � � ;� � ,-�!.��-� �� , 1 '� I ` (1�5 � `—��.;. l � I — � , �' ' � i � � ✓ � � �_ l G \ I. _n 61 '�, • � ��}.��,1�-1�j�s . #L� : 35 ---�. ,� � }-' � v� _ -�—� � �.�,c,a ; ..� f• � l . !f °� � � 1'Y.�z`. 2� �ast Du6uque '�� I � -" 1 - 'I ��'I� � --- � � Lacoma Go3f �1 .. � �i1:1_ - ...� - %' Gub �-. r ..- — � CP"�� OV6 ,�;�f i . . �'. �� ' �_ . -, � � -- . � � 2a `� �� _ � �ay . � � � _� • ��'� ~''� � �J� � a . � �� ,`• + I � ----� . � 1 � �� 1 1 / � � . Rockcai. 151 � ,, / �. '� 1 1 ' ��y � - 1 '1 / � 1 1 ' -�S, 1 1 ' -� — _—_ / ' �--- � ` � � � .. . City Limits � � �� ' ,/ _ -` 61 ., � — Housing TIF Districts li _ I i � \�'�' � �� ` �� \ �� . . _ New Housing Units Approved and/or Under Review as of May 2023 The use of urban abatement,TIF,and other city incentives,has generated interest in the creation of over 1,700 new housing units. - . - . . . . . � . . . Development Location Remaining Lots/ Use Units Available North Grantiview Estates North Grandview/32nd Street 25 Lots Single-Family/Apartment Rustic Point Estates#2 Derby Grange/Kennedy Roads � 46 Lots Single-Family/Duplex Sky Blue Estates* Roosevelt Roatl Less than 17 Lots Single-Family Silver Oaks Subtlivisian Elmwood/Silver Oaks Drive 128 Lots Single-Family/Duplex South Pointe Estates* Rockdale Road Less than 42 Lots Single-Family/Duplex Timber-Hyrst Estates Creekwood Drive Less than 26 Lots Single-Family/Duplex/Townhomes �Subdivision has additional phases . . . - . - . � - . . - . - . . Development Location #of Units Use Estates of Duhuque Barnwootl Lane/Lasso Court 35 Units Single-Family/Cooperative Community . � - - . . - - . . . - . . Development Location #of Units Use Gardens of Dubuque 1895 Radford Road 50 Units Affordable Family Housing Apartment Kretschmer Lofts 895 Washington Street 48 Units Market Rate Apartments Roosevelt West 1865 Radford Road 44 Units Affordable Senior Housing Apartment Old Prescott School 1199 Central Avenue 14 Units Market Rate Apartments Miller 4-Plex East Gate Court 4 Units Market Rate Apartments Fox Hills Apartments Entl of Plaza Drive 390 Units Market Rate Apartments Mount Carmel-Sisters of Charity Phase 1 1100 Carmel 60 units Skilled Nursing 46 Units Assisted Living 22 Units Memory Care Mount Carmel-Sisters of Charity Phase 2 1100 Carmel 116 Units Independent Living - . - . � - . . - � . . . - . Development Location #of Lots/Units Use St.Anthony's School 2175 Rosetlale Avenue 22 Units Market Rate Apartments Callahan Apartments Bies Drive 56 Units Market Rate Apartments lowa Street Lofts 1248 lowa Street 14 Units Market Rate Apartments � - . - . � - - . . - . - - - Development Location #of Lots/Units Use The Stacks Ice Harbor Drive 187 Units Market Rate Apartments Horizon Development 1301 Central Avenue 30 Units Affordable Family Housing Apartment Visitation/AHNI 900 Alta Vista Street 20-25 Units Affordable Apartments Carter Road Apartments Carter Road 40 Units Market Rate Apartments � Union Park Place Apartments&Townhomes North of Northwest Arterial 152 Units Market Rate Apartments - . - . . . . . - - - Development Location #of Lots/Units Use Mozena Farms Subdivision End of Tiffany Court 105 Lots Single-Family iviHu iJ5 CM036-070723 ROPOSED GRAND TOTAL OF 1,744 LOTS/UNITS