Resolution Supporting Iowa State Historic Preservation Tax Credit Part 2B Application for 1047 Bluff StreetCity of Dubuque
City Council
CONSENT ITEMS # 5.
Copyrighted
February 17, 2025
ITEM TITLE: Resolution Supporting Iowa State Historic Preservation Tax
Credit Part 2B Application for 1047 Bluff Street
SUMMARY: City Manager recommending City Council review and
approval of a Resolution of Support for the Iowa State
Historic Preservation Tax Credit Part 2B Application for a
project by Forward Investments Group LLC for a project at
1047 Bluff Street.
RESOLUTION In Support Of Iowa State Historic Preservation
Tax Credit Part 2B Application Submitted To The Iowa
Economic Development Authority By Forward Investments
Group LLC For A Historic Rehabilitation Project At 1047 Bluff
Street
SUGGUESTED Receive and File; Adopt Resolution(s)
DISPOSITION:
ATTACHMENTS:
1. MVM Memo
2. Staff Memo
3. Resolution
Page 92 of 797
THE CITY OF
Dubuque
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TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: Resolution Supporting Iowa State Historic Preservation Tax Credit Part 2B
Application for Forward Investments Group LLC for a Project at 1047 Bluff
Street
DATE: February 11, 2025
Assistant Economic Development Director Ian Hatch is recommending City Council
review and approval of a Resolution of Support for the Iowa State Historic Preservation
Tax Credit Part 2B Application for a project by Forward Investments Group LLC for a
project at 1047 Bluff Street.
Forward Investments Group LLC is creating three new residential rental units at 1047
Bluff Street and restoring the building's fagade in accordance with State Historic
Preservation Office standards. The City of Dubuque partnered with Forward
Investments Group LLC on this project by awarding downtown rehabilitation grants and
a housing creation incentive all totaling $65,000. The project will also receive 15 years
of tax increment financing for creating new residential housing in the Greater Downtown
Urban renewal Area.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
Y
Mic ael C. Van Milligen
MCVM:sv
Attachment
cc: Crenna Brumwell, City Attorney
Cori Burbach, Assistant City Manager
Jill Connors, Economic Development Director
Ian Hatch, Assistant Economic Development Director
Page 93 of 797
Dubuque Economic Development
Department
THE CITY OF 1300 (wain street
All•Ameria10V Dubuque, Iowa 52001-4763
UB E I k"I""`"I""q Office (563) 589-4393
1 I I TTY (563) 690-6678
I® http://www.cityofdubuque.org
2007-2012*2013
Masterpiece on the Mississippi 2017*2019
TO: Michael C. Van Milligen, City Manager
FROM: Ian C. Hatch, Assistant Economic Development Director
SUBJECT: Resolution Supporting Iowa State Historic Preservation Tax Credit Part 2B
Application for Forward Investments Group LLC for a Project at 1047 Bluff
Street
DATE: February 7, 2025
INTRODUCTION
This memorandum presents for City Council review and approval a Resolution in support
of Iowa State Historic Preservation Tax Credit Part 2B Application for a project by Forward
Investments Group LLC for a project at 1047 Bluff Street.
BACKGROUND
The Iowa State Historic Preservation Office awards tax credits and exemptions to
encourage the reuse of historic properties, while retaining historic character defining
features. The State Tax Credit, Federal Tax Credit, and County Tax Credit Exemption
programs contribute to the revitalization and preservation of historic properties across the
state. All three programs utilize the Secretary of the Interior's Standards for Rehabilitation
of Historic Buildings and the Guidelines for Rehabilitating Historic Buildings. City support
helps project applications score higher and increases the likelihood that a Part 2B
application will result in an award of Historic Preservation Tax Credits for a project.
DISCUSSION
Forward Investments Group LLC is creating three new residential rental units at 1047 Bluff
Street and restoring the building's fagade in accordance with State Historic Preservation
Office standards. The City of Dubuque partnered with Forward Investments Group LLC on
this project by awarding downtown rehabilitation grants and a housing creation incentive all
totaling $65,000. The project will also receive 15 years of tax increment financing for
creating new residential housing in the Greater Downtown Urban renewal Area.
Page 94 of 797
BUDGETIMPACT
There is no impact on the City's budget in order to express support for the project.
RECOMMENDATION
I respectfully request City Council approve the attached Resolution of Support for the Iowa
State Historic Preservation Tax Credit Part 2B Application for the above project.
Page 95 of 797
Prepared by Ian C Hatch Assistant Economic Development Director, 1300 Main Street Dubuque IA 52001 (563) 589-4105
Return to Adrienne N. Breitfelder, City Clerk, 50 W. 13" St., Dubuque, IA 52001, (563) 589-4100
RESOLUTION NO. 45-25
IN SUPPORT OF IOWA STATE HISTORIC PRESERVATION TAX CREDIT PART 2B
APPLICATION SUBMITTED TO THE IOWA ECONOMIC DEVELOPMENT AUTHORITY BY
FORWARD INVESTMENTS GROUP LLC FOR A HISTORIC REHABILITATION PROJECT AT
1047 BLUFF STREET
WHEREAS, Forward Investments Group LLC has requested City support for its Historic
Preservation Tax Credit Part 213 application to the Iowa Economic Development Authority ("IEDA")
for the rehabilitation of its historic church building located at 1047 Bluff Street, Dubuque, Iowa (the
"Project"); and
WHEREAS, the building is a contributing building in the Jackson Park Historic District and
is eligible for State Historic Preservation Tax Credits for the rehabilitation of the building; and
WHEREAS, the successful completion of the Project requires funding from a number of
sources, including the State of Iowa Historic Preservation Tax Credit; and
WHEREAS, the Historic Preservation -
application that gives points for various aspects,
in the jurisdiction of which it is located; and
ax Credit Part 2B application is a competitive
including local government support of the Project
WHEREAS, City support will help the Project to score higher on its application and increase
the likelihood that the Part 2B application results in an award of Historic Preservation Tax Credits
for the Project.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
DUBUQUE, IOWA THAT:
Section 1. The City Council of the City of Dubuque does hereby express its support for
the Project and for Forward Investments Group LLC to submit its Historic Preservation Part 2B
application to the IEDA seeking an award of Historic Preservation Tax Credits for the Project.
Section 2. The City's Office of Economic Development is directed to transmit a copy of
this resolution to Forward Investments Group LLC.
Passed, approved, and adopted this 17th day of February, 2025.
P'_Maam;
ITT I WIN*
Attest:
Adrienne N. Breitfelder, City Clerk