Setting a Public Hearing on a Proposed Development Agreement with FEH Realty, L.L.C. and FEH Associates, Inc.City of Dubuque
City Council
Copyrighted
February 17, 2025
ITEMS SET FOR PUBLIC HEARING # 1.
ITEM TITLE: Resolution Setting a Public Hearing on a Proposed
Development Agreement by and among the City of Dubuque,
Iowa, FEH Realty, L.L.C., and FEH Associates, Inc.
SUMMARY: City Manager recommending City Council adopt the attached
resolution setting a public hearing for March 3, 2025, on a
proposed Development Agreement by and among the City of
Dubuque, Iowa, FEH Realty, L.L.C., and FEH Associates,
Inc. providing for the issuance of Urban Renewal Tax
Increment Revenue Grant Obligations.
RESOLUTION Fixing The Date For A Public Hearing Of The
City Council Of The City Of Dubuque, Iowa On A
Development Agreement By And Among The City Of
Dubuque, Iowa, FEH Realty, L.L.C., And FEH Associates,
Inc., Including The Proposed Issuance Of Urban Renewal
Tax Increment Revenue Obligations Relating Thereto And
Providing For The Publication Of Notice Thereof
SUGGUESTED Receive and File; Adopt Resolution(s), Set Public Hearing for
DISPOSITION: March 3, 2025
ATTACHMENTS:
1. MVM Memo
2. Staff Memo
3. FEH Development Agreement
4. Notice of Hearing
5. Resolution
Page 239 of 797
Dubuque
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TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: Resolution Setting a Public Hearing on a Proposed Development
Agreement by and among the City of Dubuque, Iowa, FEH Realty, L.L.C.,
and FEH Associates, Inc.
DATE: February 13, 2025
Economic Development Director Jill Connors is recommending City Council adopt the
attached resolution setting a public hearing for March 3, 2025, on a proposed
Development Agreement by and among the City of Dubuque, Iowa, FEH Realty, L.L.C.,
and FEH Associates, Inc. providing for the issuance of Urban Renewal Tax Increment
Revenue Grant Obligations.
To accommodate the need for larger office space as well as a need for increased staff,
FEH Realty, L.L.C., a subsidiary of FEH Associates, purchased 902 Main Street with
the intent to rehabilitate the existing structure into a unique office space. In addition to
addressing necessary roof repairs and other structural issues, FEH will transform the
fagade of the structure to revitalize this important downtown building. FEH is proposing
a $2.5 million dollar restoration project that will positively impact this highly visible
corner of Main Street.
The key elements of the Development Agreement include the following:
1. FEH Realty, L.L.C. will make a capital investment of approximately $2.5
Million dollars to rehabilitate the property.
2. FEH Associates, Inc. must maintain its existing 11 full time equivalent
positions and create at least 10 new full time equivalent positions by
October 1, 2028. The 21 full time equivalent positions must be maintained
through the term of the Agreement.
3. FEH Realty, L.L.C. will receive 10 years of tax increment financing
incentives in the form of semi-annual rebates. Tax increment financing
incentives are estimated to not exceed $115,000.
4. City to award a Downtown Rehabilitation Grant not to exceed $35,000,
pending final design approval.
5. City of Dubuque will amend the Greater Downtown Urban Renewal District
Plan to accommodate the issuance of tax increment financing incentives.
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I concur with the recommendation and respectfully request Mayor and City Council
approval.
Mic ael C. Van Milligen
MCVM:sv
Attachment
cc: Crenna Brumwell, City Attorney
Cori Burbach, Assistant City Manager
Jill Connors, Economic Development Director
2
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Dubuque Economic Development
Department
THE CITY OF
50 West 13th Street
DkIAl1l-AmerinCity Dubuque, Iowa 52001-4864
UB&E1111AAI
I1AA I Office (563) 589-4393
TTY(563)690-6678
http://www.cityofdubuque.org
2007*2012.2013
Masterpiece on the Mississippi 2017*2019
TO: Michael C. Van Milligen, City Manager
FROM: Jill M. Connors, Economic Development Director
SUBJECT: Resolution Setting a Public Hearing on a Proposed Development
Agreement by and among the City of Dubuque, Iowa, FEH Realty, L.L.C.,
and FEH Associates, Inc.
DATE: February 11, 2025
INTRODUCTION
This memorandum is a request for the City Council to adopt the attached resolution
setting a public hearing for March 3, 2025 on a proposed Development Agreement by
and among the City of Dubuque, Iowa, FEH Realty, L.L.C., and FEH Associates, Inc.
providing for the issuance of Urban Renewal Tax Increment Revenue Grant Obligations.
BACKGROUND
FEH Associates, sometimes referred to as FEH Design, is a collaborative firm
specializing in architecture, structural engineering, and interior design. FEH Associates
has over 125 years of experience in shaping vibrant, sustainable environments through
thoughtful and innovative design solutions. Since opening a Dubuque location in 2011,
the FEH office has grown from one individual to a staff of eleven. The company
currently leases its space at 951 Main Street.
DISCUSSION
To accommodate the need for larger office space as well as a need for increased staff,
FEH Realty, L.L.C., a subsidiary of FEH Associates, purchased 902 Main Street with
the intent to rehabilitate the existing structure into a unique office space. In addition to
addressing necessary roof repairs and other structural issues, FEH will transform the
fagade of the structure to revitalize this important downtown building. FEH is proposing
a $2.5 million dollar restoration project that will positively impact this highly visible
corner of Main Street.
Page 242 of 797
The key elements of the Development Agreement include the following:
1. FEH Realty, L.L.C. will make a capital investment of approximately $2.5
Million dollars to rehabilitate the property.
2. FEH Associates, Inc. must maintain its existing 11 full time equivalent
positions and create at least 10 new full time equivalent positions by
October 1, 2028. The 21 full time equivalent positions must be maintained
through the term of the Agreement.
3. FEH Realty, L.L.C. will receive 10 years of tax increment financing
incentives in the form of semi-annual rebates. Tax increment financing
incentives are estimated to not exceed $115,000.
4. City to award a Downtown Rehabilitation Grant not to exceed $35,000,
pending final design approval.
5. City of Dubuque will amend the Greater Downtown Urban Renewal District
Plan to accommodate the issuance of tax increment financing incentives.
RECOMMENDATION/ ACTION STEP
I recommend the City Council adopt the attached resolution setting a March 3, 2025
public hearing on the Development Agreement including the issuance of Urban
Renewal Tax Increment Revenue Grant Obligations.
2
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DEVELOPMENT AGREEMENT
BY AND AMONG
THE CITY OF DUBUQUE, IOWA,
FEH REALTY, L.L.C. AND
FEH ASSOCIATES, INC.
This Agreement, dated for reference purposes the _ day of
, 2025, by and among the City of Dubuque, Iowa, a municipality (City),
established pursuant to the Iowa Code and acting under authorization of Iowa Code
Chapter 403, as amended (Urban Renewal Act), FEH Realty, L.L.C., an Iowa limited
liability company with its principal place of business in Sioux City, Iowa (Developer), and
FEH Associates, Inc., an Iowa corporation with its principal place of business in Sioux
City, Iowa (Employer).
WITNESSETH:
WHEREAS, Developer is the owner of the following described real estate (the
Property):
The North Half (N'/2) of the South Forty Feet of Lot Thirty-three (33), and the South
Twenty (20) feet of Lot Thirty-three (33), both in the City of Dubuque, Iowa,
according to the United States Commissioner's Map thereof.
locally known as 902 Main Street; and
WHEREAS, Developer has determined to restore and remodel the commercial
building/facility (the Facility) located on the Property to accommodate Employer to add
new employment in the City of Dubuque; and
WHEREAS, Developer or Employer will make a capital investment in building
improvements, equipment, furniture and fixtures in the Facility, all of the foregoing
referred to herein as the Project; and
WHEREAS, Developer and Employer have entered into an agreement for the
lease of space within the Facility (the Lease) with all easements, tenements,
hereditaments, and appurtenances belonging thereto so that Developer may develop the
Property, located in the Project Area, for the construction, use, and occupancy of the
Facility in accordance with the uses specified in the Urban Renewal Plan and Developer
agrees to comply with any amendments to the Urban Renewal Plan, in accordance with
this Agreement; and
02072025ba1
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WHEREAS, Employer joins in this Agreement and assumes the rights and
responsibilities provided herein; and
WHEREAS, the Project is located within the Greater Downtown Urban Renewal
District (the District), approved by City Council Resolution 278-24 to be designated as a
slum and blighted area (the Project Area), as defined by Iowa Code Chapter 403 (the
Urban Renewal Law); and
WHEREAS, as of the date of this Agreement there has been prepared and
approved by City an Urban Renewal Plan for the Project Area consisting of the Urban
Renewal Plan for the Greater Downtown Urban Renewal District, approved by the City
Council of City on May 18, 1967, and as subsequently amended through and including
the date hereof (the Urban Renewal Plan) attached hereto as Exhibit A; and
WHEREAS, a copy of the Urban Renewal Plan, as constituted on the date of this
Agreement, is on file with the County Auditor and the City of Dubuque City Clerk; and
WHEREAS, City believes that the Project and the development of the Property
pursuant to this Agreement, and the fulfillment generally of this Agreement, are in the vital
and best interests of City and in accord with the public purposes and provisions of the
applicable federal, state and local laws and the requirements under which the Project has
been undertaken and is being assisted.
NOW, THEREFORE, in consideration of the premises and the mutual obligations
of the parties hereto, each of them does hereby covenant and agree with the other as
follows..
SECTION 1. REPRESENTATIONS AND WARRANTIES
1.1 Representations and Warranties of City. In order to induce Developer and
Employer to enter into this Agreement, City hereby represents and warrants to Developer
and Employer that to the best of City's knowledge:
(1) 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 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 B.
Page 245 of 797
(2) City shall exercise its best efforts to cooperate with Developer in the
development process.
(3) City shall exercise its best efforts to resolve any disputes arising during the
development process in a reasonable and prompt fashion.
(4) 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
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 property is bound,
or constitute 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 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 financial position or operations of City or which
affects the validity of the Agreement or City's ability to perform its obligations under
this Agreement.
(6) No ordinance or hearing is now 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.
(7) 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.
1.2 Representations and Warranties of Developer and Employer. Developer and
Employer each make the following individual representations and warranties with respect
to their own company (without making any warranties with respect to the other):
(1) Developer and Employer are duly organized and validly existing or
Page 246 of 797
authorized under the laws of the State of Iowa and have all requisite power and
authority to own and operate their properties, to carry on their respective business
as now conducted and as presently proposed to be conducted, and to enter into
and perform their obligations under the Agreement.
(2) This Agreement has been duly authorized, executed and delivered by
Developer and Employer, 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 and Employer 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 and
Employer'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 and Exhibit D.
(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 Employer or any contractual
restriction, evidence of indebtedness, agreement or instrument of whatever nature
to which Developer or Employer 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 or Employer 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 Employer or which affects the validity of the
Agreement or Developer's or Employer's ability to perform its obligations under
this Agreement.
(5) Developer and Employer will perform their 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.
Page 247 of 797
(7) Developer has commitments for permanent financing for the Development
Project and all of their respective obligations under this Agreement in an amount
sufficient, together with 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 Closing. The closing of the transaction (the Closing) contemplated
by this Agreement and all the obligations of Developer and Employer 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 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 Development
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 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, 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 and its lenders 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 by Developer, and the construction, use and occupancy of the
project with the intent and understanding that Developer 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 to streamline and
facilitate the obtaining of such permits, approvals and consents.
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(3) Developer, Employer, and City shall be in material compliance with all the
terms and provisions of this Agreement.
(4) Developer shall have furnished City with evidence, in a form satisfactory to
City (such as a letter of commitment from a bank or other lending institution), that
Developer has firm financial commitments in an amount sufficient, together with
equity commitments, to complete the Minimum Improvements (as defined herein)
in conformance with the Construction Plans (as defined herein), or City shall have
received such other evidence of such party's financial ability as in the reasonable
judgment of City is required.
(5) Employer shall have furnished City with evidence in a form as required by
Section 5.2 and satisfactory to City of Employer's fulltime equivalent employees
(FTE) at 902 Main Street in the City of Dubuque, Iowa, as of January 1, 2025.
(6) Receipt of an opinion of counsel to Developer in the form attached hereto
as Exhibit C.
(7) Receipt of an opinion of counsel to Employer in the form attached hereto as
Exhibit D.
(8) Developer and Employer 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 Employer 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.
(9) Developer and Employer shall have provided City with a copy of the
executed Lease.
1.4 Closing. The closing shall take place on the Closing Date which shall be the 3ra
day of April, 2025, or such other date as the parties shall agree in writing but in no event
shall the Closing Date be later than the 30th day of April, 2025. 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.
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1.5 City's Obligations at Closing. At or prior to Closing Date, City shall deliver to
Developer such other documents as may be required by this Agreement, all in a form
satisfactory to Developer.
SECTION 2. DEVELOPMENT ACTIVITIES
2.1 Required Minimum Improvements. City acknowledges that the Facility Developer
is remodeling on the Property is a commercial building/facility. Developer agrees to
remodel the building and to add certain internal systems thereto, including all interior
improvements to the building (the Minimum Improvements); at an estimated cost of
approximately Two Million Five Hundred Thousand Dollars ($2,500,000.00).
2.2 Plans for Construction of Minimum Improvements. Developer agrees the
construction of the Minimum Improvements shall be in conformity with the Urban Renewal
Plan, this Agreement, and all applicable state and local laws and regulations. All work
with respect to the Minimum Improvements shall be in substantial conformity with the
Construction Plans approved by City.
2.3 Timing of Improvements. Developer hereby agrees that construction of the
Minimum Improvements on the Property shall be commenced on or before May 1, 2025
and shall be substantially completed by December 31, 2026. The time frame for the
performance of these obligations shall be suspended due to unavoidable delays, meaning
delays outside the control of the party claiming its occurrence in good faith, which are the
direct result of strikes, other labor troubles, shut down due to COVID-19, unusual
shortages of materials or labor, unusually severe or prolonged bad weather, acts of God,
fire or other casualty to the Minimum Improvements, litigation commenced by third parties
which, by injunction or other similar judicial action or by the exercise of reasonable
discretion directly results in delays, or acts of any federal, state or local government which
directly result in extraordinary delays. The time for performance of such obligations shall
be extended only for the period of such delay.
2.4 Certificate of Completion. Promptly following the request of Developer upon
completion of the Minimum Improvements, the City Manager shall furnish Developer with
an appropriate instrument so certifying. Such certification (the Certificate of Completion)
shall be in recordable form and shall be a conclusive determination of the satisfaction and
termination of the agreements and covenants in this Agreement with respect to the
obligations of Developer to construct the Minimum Improvements.
SECTION 3. CITY PARTICIPATION.
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3.1 Economic Development Grants.
(1) Employer Economic Development Grants
(a) For and in consideration of Developer's and Employer'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 and Employer being and remaining in
compliance with the terms of this Agreement, to make twenty (20)
consecutive semi-annual payments (such payments being referred to
collectively as the Economic Development Grants) to Developer, as follows:
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
November 1, 2035
May 1, 2036
November 1, 2036
May 1, 2037
November 1, 2037
May 1, 2038
pursuant to Iowa Code Section 403.9 of the Urban Renewal Law, in
amounts equal to the actual amount of tax increment revenues collected by
City under Iowa Code Section 403.19 (without regard to any averaging that
may otherwise be utilized under Iowa 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 3.1(1), the
assessed value of the Property as of January 1, 2025 is $212,300.
Developer recognizes and agrees that the Developer Economic
Development Grants shall be paid solely and only from the incremental
taxes collected by City in respect to the Property and Minimum
Improvements, 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 Iowa law,
and thus such incremental taxes will not include all amounts paid by
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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, 2027, 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,
2027, the Developer Economic Development Grants in respect thereof
would be paid to Developer on November 1, 2028, and May 1, 2029.)
(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 FEH 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 FEH TIF Account
to pay the Developer Economic Development Grants, as and to the extent
set forth in Section 3.1(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 FEH 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 3.1 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.
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(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,
2025.
3.2 Downtown Rehabilitation Grant. City agrees to provide a matching (1:1) grant not
to exceed Thirty -Five Thousand Dollars ($35,000.00) to reimburse Developer for
documented costs related to the following eligible activities-
(1) Planning & Design predevelopment costs, architectural and engineering
fees and other authorized soft costs associated with the rehabilitation of the
Development Property on the terms and conditions set forth by the State Historic
Preservation Office, as set forth in Exhibit G, and on the terms and conditions set
forth in a Design Letter to be executed at a later date.
(2) Fagade documented costs that improve the overall appearance of the
Development Property, provided the Project meets the criteria of the Fagade Grant
Program and on the terms and conditions set forth by the State Historic
Preservation Office, as set forth in Exhibit G, and on the terms and conditions set
forth in the Design Letter attached as Exhibit H.
(3) Financial Consultant documented costs related to hiring a financial
consultant to evaluate the Project's feasibility on the terms and conditions set forth
in Exhibit G.
(4) A final design plan for the fagade must be approved by City staff on the
terms and conditions set forth in a Design Letter to be issued by City. If a final
design plan for the fagade is not approved, this grant will not be applied to the
project.
3.3 Other than the Economic Development Grants required by Section 3.1, City shall
have no obligation to provide any other funds to Developer.
SECTION 4. NOW APPROPRIATION / LIMITED SOURCE OF FUNDING.
4.1 Non -Appropriation.
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(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.
4.2 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 5. COVENANTS OF EMPLOYER.
5.1 Job Creation and Maintenance. During the term of this Agreement, Employer
shall comply with the following employment -related covenants for the Property:
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(1) Employer represents that the number of fulltime equivalent (FTE)
employees employed by Employer as of January 1, 2025 is Eleven (11). Employer
shall create and maintain 10 additional FTE employees employed by Employer
whose primary place of employment is 902 Main Street by October 1, 2028 and
during the remaining Term of this Agreement for a total of Twenty -One (21) FTE
employees whose primary place of employment is at 902 Main Street and the
Facility. FTE employees shall be calculated by adding fulltime and part-time
employees together using 2080 hours per year as a FTE employee.
(2) For the FTE positions that Employer fails 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 3.1(1) shall be reduced by the
percentage that the number of positions Employer fails to create or maintain as
required by this Section 5.1 bears to the total number of positions required to be
created and maintained (10 FTEs) by this Section 5.1. (For example, if Employer
has 16 FTE employees employed by Employer, the semi-annual Developer
Economic Development Grants to be paid for that year would be reduced by 25%
(16/21 employees) of the Tax Increment Revenues received by City). The
reduction of the semi-annual Developer Economic Development Grants shall be
City's sole remedy for the failure of Employer to meet the job creation requirements
of this subsection 5.1(2).
(3) Employer's job creation and maintenance obligation under Section 5.1(1)
terminates after October 1, 2037.
5.2 Certification. To assist City in monitoring the performance of Employer hereunder,
as of October 1, 2028, and again as of October 1 of each year thereafter during the term
of this Agreement, a duly authorized officer of Employer shall certify to City in a form
acceptable to City (a) the number of FTE positions employed by Employer at 902 Main
Street and the Facility, and (b) to the effect that such officer has re-examined the terms
and provisions of this Agreement and that at the date of such certificate, and during the
preceding twelve (12) months, Employer 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, 2028, and by October 15 of each
Page 255 of 797
year thereafter. Employer's certification obligations under this Section 5.2 terminate
following the final certification on October 1, 2037 (due by October 15, 2037).
5.3 Books and Records. During the term of this Agreement, Developer and Employer
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 and Employer in accordance with generally accepted accounting
principles consistently applied throughout the period involved, and Developer and
Employer shall provide reasonable protection against loss or damage to such books of
record and account.
5.4 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.
5.5 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 Minimum Improvements located thereon 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 Iowa Code Chapters 404 and 427, as amended.
5.6 Insurance Requirements.
(1) Developer shall provide and maintain or cause to be maintained at all times
during the process of constructing the Minimum Improvements and at its sole cost
and expense (and, from time to time at the request of City, furnish City with proof
of insurance in the form of a certificate of insurance for each insurance policy):
All risk builder's risk insurance, written on a Completed Value Form in an amount
equal to one hundred percent (100%) of the replacement value when construction
is completed Minimum Improvements, naming City as an additional insured and
lender loss payable. Coverage shall include the "special perils" form.
(2) Upon completion of construction of the Minimum Improvements and 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) all risk property insurance
against loss and/or damage to the Minimum Improvements under an insurance
Page 256 of 797
policy written in an amount not less than the full insurable replacement value of
Minimum Improvements naming City as lender loss payable. Coverage shall
include the "special perils" form.
The term "replacement value" shall mean the actual replacement cost of Minimum
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 Minimum 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 Minimum 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.
5.7 Preservation of Property. During the term of this Agreement, Developer shall
maintain, preserve and keep, or cause others to maintain, preserve and keep, Minimum
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.
5.8 Non -Discrimination. In carrying out the project, Developer and Employer 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.
Page 257 of 797
5.9 Conflict of Interest. Developer and Employer agree 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 and
Employer 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.
5.10 Non -Transferability. During the Term of this Agreement, this Agreement may not
be assigned by Developer or Employer 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.
5.11 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 race, religion, color, sex, sexual
orientation, gender identity, national origin, age or disability 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).
5.12 Release and Indemnification Covenants. Developer agrees to the following
conditions of release and indemnification.
Page 258 of 797
(1) Developer releases City and the governing body members, officers, agents,
servants and employees thereof (hereinafter, for purposes of this Section, the
Indemnified Parties) from and covenants and agrees that the Indemnified Parties
shall not be liable for, and agrees to indemnify, defend and hold harmless the
Indemnified Parties against any loss or damage to property or any injury to or death
of any person occurring at or about or resulting from any defect in the Minimum
Improvements.
(2) Except for any gross negligence, willful misrepresentation or any willful or
wanton misconduct or any unlawful act of the Indemnified Parties, Developer
agrees to protect and defend the Indemnified Parties, now or forever, and further
agrees to hold the Indemnified Parties harmless, from any claim, demand, suit,
action or other proceedings whatsoever by any person or entity whatsoever arising
or purportedly arising from (1) any violation of any agreement or condition of this
Agreement (except with respect to any suit, action, demand or other proceeding
brought by Developer against City based on an alleged breach of any
representation, warranty or covenant of City under this Agreement and/or to
enforce its rights under this Agreement); or (2) the acquisition, construction,
installation, ownership, and operation of the Minimum Improvements or (3) the
condition of the Property and any hazardous substance or environmental
contamination located in or on the Property, caused and occurring after Developer
takes possession of the Property.
(3) The Indemnified Parties shall not be liable to Developer or Employer for any
damage or injury to the persons or property of Developer or its officers, agents,
servants or employees or any other person who may be on, in or about the
Minimum Improvements due to any act of negligence of any person, other than
any act of negligence on the part of any such Indemnified Party or its officers,
agents, servants or employees.
(4) All covenants, stipulations, promises, agreements and obligations of City
contained herein shall be deemed to be the covenants, stipulations, promises,
agreements and obligations of City, and not of any governing body member,
officer, agent, servant or employee of City in their individual capacity thereof.
(5) The provisions of this Section shall survive the termination of this
Agreement.
Page 259 of 797
5.13 Compliance with Laws. Developer and Employer 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 or Employer.
SECTION 6. EVENTS OF DEFAULT AND REMEDIES.
6.1 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 Minimum Improvements and the
Property.
(2) Failure by Developer to cause the construction of the Minimum
Improvements to be commenced and completed pursuant to the terms, conditions
and limitations of this Agreement.
(3) Transfer of any interest by Developer in any portion of the Property or the
Minimum Improvements in violation of the provisions of this Agreement.
(4) Failure by Developer or Employer to substantially observe or perform any
other material covenant, condition, obligation or agreement on its part to be
observed or performed under this Agreement.
6.2 Remedies on Default by Developer. Whenever any Event of Default referred to in
Section 6.1 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 its default and continue its performance under this Agreement;
Page 260 of 797
(2) Until the Closing Date, City may cancel and rescind this Agreement;
(3) City may withhold the Certificate of Completion; or
(4) 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.
6.3 No Remedy Exclusive. No remedy herein conferred upon or reserved to City 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.
6.4 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.
6.5 Agreement to Pay Attorneys' 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.
6.6 Remedies on Default by City. If City defaults in the performance of this Agreement,
Developer or Employer 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 Employer, or to enforce performance
and observance of any obligation, agreement, or covenant of City under this Agreement.
Developer or Employer may suspend performance under this Agreement until it receives
assurances from City, deemed adequate by Developer or Employer, that City will cure its
default and continue its performance under this Agreement.
Page 261 of 797
SECTION 7. GENERAL TERMS AND PROVISIONS.
7.1 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:
(1) If to Developer:
FEH Realty, L.L.C.
925 Main Street
Dubuque, IA 52001
Phone:
With Copy to: Heideman Law Firm PPLC
Attn: Daniel Dykstra
505 5th Street Suite 200
Sioux City, IA 51101
Phone: (712) 277-3931
(2) If to Employer:
FEH Associates, Inc.
925 Main Street
Dubuque, IA 52002
Phone: (563) 583-4900
With copy to: Heideman Law Firm PPLC
Attn: Daniel Dykstra
505 5th Street Suite 200
Sioux City, IA 51101
Phone: (712) 277-3931
(3) If to City
With copy to
City Manager
50 W. 13th Street
Dubuque, Iowa 52001
Phone: (563) 589-4110
Fax: (563) 589-4149
City Attorney
City Hall
50 W. 13th Street
Dubuque, Iowa 52001
Page 262 of 797
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.
7.2 Binding Effect. This Agreement shall be binding upon and shall inure to the benefit
of City and Developer and Employer and their respective successors and assigns.
7.3 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, 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.
7.4 Termination Date. This Agreement and the rights and obligations of the parties
hereunder shall terminate on June 1, 2038 (the Termination Date).
7.5 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.
7.6 Memorandum of Development Agreement. City shall promptly record a
Memorandum of Development Agreement in the form attached hereto as Exhibit G in the
office of the Recorder of Dubuque County, Iowa. Developer shall pay the costs for so
recording.
Page 263 of 797
IN WITNESS WHEREOF, City has caused this Agreement to be duly executed in
its name and behalf by its Mayor and attested to by its City Clerk and Developer and
Employer has caused this Agreement to be duly executed.
Page 264 of 797
CITY OF DUBUQUE, IOWA
Brad M. Cavanagh, Mayor
Attest:
Adrienne N. Breitfelder, City Clerk
FEH REALTY, L.L.C.
(DEVELOPER)
By: ✓
FEH ASSOCIATES, INC.
(EMPLOYER)
By: Y ez---
Page 265 of 797
LIST OF EXHIBITS
Exhibit A
Urban Renewal Plan
Exhibit B
Opinion of Counsel to City
Exhibit C
Opinion of Counsel to Developer
Exhibit D
Opinion of Counsel to Employer
Exhibit E
City Certificate
Exhibit F
Certificate of Completion
Exhibit G
Memorandum of Development Agreement
Exhibit H
Downtown Rehabilitation Grant Program
Exhibit I
Design Letter (See § 3.6(4))
Page 266 of 797
EXHIBIT A
URBAN RENEWAL PLAN
(on file in City Clerk's office, 50 W. 13t" Street, Dubuque, IA 52001)
Page 267 of 797
EXHIBIT B
OPINION OF COUNSEL TO CITY
Page 268 of 797
Barry A. Lindahl, Esq.
Senior Counsel THE COF
Suite 330, Harbor View Place 300 Main StreetDtUB E
Dubuque, Iowa 52001-6944
(563) 583-4113 office
(563) 583-1040 fax Masterpiece on the Mississippi
balesgkcityofdubuque.org
(DATE)
N =l
Dear
Dubuque
krfftl
All-Awrin Gib
r.x.i
2007-2012.2013
2017*2019
I have acted as counsel for the City of Dubuque, Iowa, in connection with the execution
and delivery of a certain Development Agreement by and among FEH Realty, L.L.C.
(Developer), FEH Associates, Inc. (Employer) and the City of Dubuque, Iowa (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
Page 269 of 797
EXHIBIT C
OPINION OF DEVELOPER'S COUNSEL
Page 270 of 797
Mayor and City Councilmembers
City Hall
1311 and Central Avenue
Dubuque IA 52001
Re: Development Agreement By and Among the City of Dubuque, Iowa, FEH Realty,
L.L.C. and FEH Associates, Inc.
Dear Mayor and City Councilmembers:
We have acted as counsel for FEH Realty, L.L.C., (Developer) in connection with
the execution and delivery of a certain Development Agreement (Development
Agreement) between Developer and the City of Dubuque, Iowa (City) dated for reference
purposes the day of , 2022.
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 an Iowa limited liability company with its principal place of
business at Dubuque, Iowa 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
Page 271 of 797
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
Page 272 of 797
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,
Page 273 of 797
EXHIBIT D
OPINION OF EMPLOYER'S COUNSEL
Page 274 of 797
Mayor and City Councilmembers
City Hall
1311 and Central Avenue
Dubuque IA 52001
Re: Development Agreement By and Among the City of Dubuque, Iowa, FEH Realty,
L.L.C. (Developer), and FEH Associates, Inc. (Employer)
Dear Mayor and City Councilmembers:
We have acted as counsel for FEH Associates, Inc., (Employer) in connection with
the execution and delivery of a certain Development Agreement (Development
Agreement) among FEH Realty, L.L.C. (Developer), and FEH Associates, Inc.
(Employer) and the City of Dubuque, Iowa (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 . Employer is a corporation organized and existing under the laws of the State
of Iowa 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 Employer and, assuming due authorization,
execution and delivery by City, is in full force and effect and is valid and legally binding
instrument of Employer 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 Employer 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 Employer, any
indenture, mortgage, deed of trust, indebtedness, agreement, judgment, decree, order,
statute, rule, regulation or restriction to which Employer is a party or by which Employer's
property is bound or subject.
Page 275 of 797
3. To the best of our knowledge, there are no actions, suits or proceedings
pending or threatened against or affecting Employer 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 Employer or which in any
manner raises any questions affecting the validity of the Agreement or the Employer's
ability to perform Employer's obligations thereunder.
We have examined such documents and certificates of public officials and officers
of the Employer 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 Board of Directors of the
Employer. 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 Employer, (ii) the due authorization, execution and delivery of each
document examined by us, by all parties to such documents other than the Employer, (iii)
the genuineness of all signatures other than the signatures of the representatives of the
Employer, (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 Employer 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 Employer,
or whom we reasonably believe have knowledge of the affairs of the Employer. 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 Board
of Directors of Employer, the Development Agreement, and such company proceedings
of the Employer and such other documents, certificates, instruments and matters as we
deem necessary to render this opinion.
The foregoing opinions are subject to:
Page 276 of 797
(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,
Page 277 of 797
EXHIBIT E
CITY CERTIFICATE
Page 278 of 797
Dubuque
THE CITY OF
All•Amerl a Cfly
NAIk Yv'41 � J%' I I I I I
DUrB E ' 11'
Masterpiece on the Mississippi 20z0i7*z007*2012�2i0193
(DATE)
City Manager's Office
City Hall
50 West 131h Street
Dubuque, Iowa 52001-4864
(563) 5894110 office
(563) 5894149 fax
ctymgr@cityofdubuque.org
Re: Development Agreement By and Among the City of Dubuque, Iowa, FEH Realty,
L.L.C. and FEH Associates, Inc.
Dear
I am the City Manager of the City of Dubuque, Iowa and have acted in that capacity in
connection with the execution and delivery of a certain Development Agreement by and
among FEH Realty, L.L.C., (Developer), and FEH Associates, Inc. (Employer), and the
City of Dubuque, Iowa (City) dated for reference purposes the day of ,
2022.
On behalf of the City of Dubuque, I hereby represent and warrant to Developer that:
(1) 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.
(2) 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.
Page 279 of 797
(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.
(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
Page 280 of 797
EXHIBIT F
CERTIFICATE OF COMPLETION
Page 281 of 797
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
CERTIFICATE OF COMPLETION
WHEREAS, the City of Dubuque, Iowa, a municipal corporation (City) has entered
into a Development Agreement with FEH Realty, L.L.C. (Developer) dated as of [Date],
related to certain real property located within the Dubuque Industrial Center Economic
Development District of the Grantor and as more particularly described as follows:
Parcel 1025201010,
Lot 4, Lot 2 of Lot 5, Lot 1 of Lot 1 of Lot 5, all in Lorimer's Subdivision, and Lot A of
Vacated West Ninth Street, in the City of Dubuque, Iowa, according to the recorded plats
thereof
Parcel 1025201012,
Lot 2 of Lot 1 of Lot 5, Lot 6, Lot 7, Lot 8 and the East 50 feet of Lot 9, all in Lorimer's
Subdivision; Lot 1 of the Subdivision of Lots 654 and 688, in the City of Dubuque, Iowa,
according to the recorded plats thereof
(the "Property"); and
WHEREAS, the Development Agreement contained certain covenants and
conditions with respect to the development of the Property, and obligated Developer to
construct certain Minimum Improvements in accordance with the Agreement; and
WHEREAS, Developer has to the present date performed said covenants and
conditions insofar as they relate to the construction of the Minimum Improvements in a
manner deemed sufficient by City to permit the execution and recording of this
certification; and
NOW, THEREFORE, pursuant to Section 2.4 of the Agreement, this is to certify
Page 282 of 797
that all covenants and conditions of the Development Agreement with respect to the
obligations of Developer, and its successors and assigns, to construct the Minimum
Improvements on the Property have been completed and performed by Developer to the
satisfaction of City and such covenants and conditions are hereby terminated.
The Recorder of Dubuque County is hereby authorized to accept for recording and
to record the filing of this instrument, to be a conclusive determination of the satisfaction
of the covenants and conditions of the Development Agreement and the Development
Agreement shall otherwise remain in full force and effect.
CITY OF DUBUQUE, IOWA
Michael C. Van Milligen, City Manager
STATE OF IOWA )
SS
COUNTY OF DUBUQUE )
On this day of , 20 , before me, the undersigned, a Notary
Public in and for the State of Iowa, personally appeared Michael C. Van Milligen, to me
personally known, who, being by me duly sworn, did say that he is the City Manager of
the City of Dubuque, Iowa, a municipal corporation, and that the instrument was signed
on behalf of the corporation, and Michael C. Van Milligen acknowledged the execution of
the instrument to be his voluntary act and deed.
Notary Public in and for said State
Page 283 of 797
EXHIBIT G
MEMORANDUM OF DEVELOPMENT AGREEMENT
Page 284 of 797
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 among the City of Dubuque, Iowa, an Iowa municipal
corporation, of Dubuque, Iowa, and FEH REALTY, L.L.C., and FEH ASSOCIATES, INC.
was made regarding the following described premises:
Parcel 1025201010,
Lot 4, Lot 2 of Lot 5, Lot 1 of Lot 1 of Lot 5, all in Lorimer's Subdivision, and Lot A of
Vacated West Ninth Street, in the City of Dubuque, Iowa, according to the recorded plats
thereof
Parcel 1025201012,
Lot 2 of Lot 1 of Lot 5, Lot 6, Lot 7, Lot 8 and the East 50 feet of Lot 9, all in Lorimer's
Subdivision; Lot 1 of the Subdivision of Lots 654 and 688, in the City of Dubuque, Iowa,
according to the recorded plats thereof
The Development Agreement is dated for reference purposes the day of
, 2025, 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 , 2025.
Page 285 of 797
CITY OF DUBUQUE, IOWA
IN
Barry A. Lindahl, Esq., Senior Counsel
STATE OF IOWA
: ss:
DUBUQUE COUNTY
On this day of , 2025, before me, a Notary Public in and for the State of
Iowa, 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
Iowa 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 Iowa
Page 286 of 797
EXHIBIT G
DOWNTOWN REHABILITATION GRANT PROGRAM
Page 287 of 797
Downtown Rehabilitation Grant Program
PROGRAM GUIDELINES
(2024)
The Downtown Rehabilitation Grant Program is designed to further the goals and
objectives of the Greater Downtown Urban Renewal Plan by creating the financial
incentives needed to eliminate conditions of blight, encourage revitalization efforts and
to retain or create employment opportunities and/or new housing units within the district.
This program will address building code deficiencies as part of each approved project.
Eligible Applicants: Owners of property within the Greater Downtown Urban
Renewal District (map attached).
Grant Award: The grant is a 1:1 matching grant up to a maximum of Thirty -Five
Thousand Dollars ($35,000).
Eligible Activities
and Assistance: Fagade Costs — to provide assistance on labor or material costs
for front (or occasionally other major) fagade renovations to
restore a building's historic appearance or eliminate
inappropriate additions or alterations to improve overall
appearance.
Financial Consultant Costs — to provide assistance on hiring a
financial consultant used to analyze the feasibility of a project.
Planning & Design Grant Program — to provide assistance on
pre -development costs associated with a project.
FOR MORE INFORMATION, please contact:
City of Dubuque Economic Development Department
50 West 13th Street, Dubuque, Iowa 52001
(563) 589-4393
Page 288 of 797
General Conditions:
• Property must be located in Greater Downtown Urban Renewal District (see attached
map) and with timely commencement & completion dates identified.
• Projects must be the rehabilitation of an existing structure.
• Property must be classified for tax purposes as a commercial or multi -residential
property.
• All existing code deficiencies within a scope of a project must be corrected and new
improvements must comply with all applicable codes and ordinances.
• Owner of property must certify that all property in the City of Dubuque, for which the
owner has any interest, complies with all applicable City of Dubuque ordinances and
regulations, including, but not limited to, housing, building, zoning, fire, health, and
vacant and abandoned building regulations.
• Exterior alterations are subject to design review and approval. The Historic District
Guidelines shall apply to projects located in Historic Preservation Districts. The
Downtown Design Guidelines shall apply to all other project locations. Projects which
conform to the applicable guidelines may be reviewed and approved by the City
Planner. Projects that do not strictly conform to the applicable guidelines will be
forwarded to the Historic Preservation Commission (HPC) for consideration.
Substantial rehabilitation projects may also be considered by the HPC. The process
for review is at the discretion of the City Planner. Guidelines can be viewed and
downloaded at http://cityofdubugue.org/1295/Design-Guidelines.
• Any signs on the property that do not comply with City zoning regulations and design
guidelines must be included in the design review and improved to comply with
applicable City Codes. Submittal must include the design materials and colors that
will be used on the sign face, how the sign will be displayed, and any lighting proposed.
• A detailed rendering/drawing of the proposed project must be included. The plans
should include dimensions and architectural details and label materials. Plans
prepared by a design professional (e.g. architect or draftsperson) are required.
Applications without detailed drawings will not be considered complete. Only
preliminary eligibility may be determined until professional drawings are submitted.
• Applicant will not be reimbursed for personal labor costs or labor costs of family
members, nor can these costs be counted in the total project costs.
• Projects may not receive the maximum amount of each form of assistance more than
once.
• Deviation from an approved project plan shall disqualify the project from the program.
• City funded projects may be required to meet sound proofing, lighting, security, or
other standards — as determined by the City of Dubuque, in its sole discretion, following
an internal neighborhood impact study — particularly when units are located in mixed -
use neighborhoods.
• Applications will be reviewed quarterly by the Economic Development and Planning
department with funda awarded to projects that meet the program criteria and are
ready to commence within three months.
Page 289 of 797
FACADE INFORMATION
This program provides funding in the Greater Downtown Urban Renewal District for front
(or occasionally other major) fagade renovation to restore the fagade to its historic
appearance or improve the overall appearance. This assistance is intended to address
historically inappropriate exteriors. It is not intended to address normal building
maintenance.
Specific Conditions:
• Reimbursement is for labor and material costs associated with fagade
improvements, including but not limited to, rehabilitating or improving windows,
paint, signage, or awnings to significantly transform overall appearance.
• Landscaping or screening with fencing or retaining walls may be a reimbursable
expense if a determination is made that property is improved adjacent to public
right-of-way.
• In order to receive reimbursement for repointing, a mortar analysis sample may
be requested for each fagade that will be repointed. The applicant must adhere
to the results of that analysis in their rehabilitation work as part of their approved
project plan. The City may request verification that the new mortar matches
the results of the mortar analysis.
• Language from the National Park Service Technical Preservation Services
Briefs may be attached as a condition for a building permit if the applicant
chooses to perform repointing on the project.
• Reimbursable expenditures must be documented.
• Funding will be disbursed upon completion of work at a 1:1 match of qualified
costs.
Approval Process:
1. Design review by the City Planning Department and/or the Historical Preservation
Commission is required for exterior work on the project.
2. Grant applications will be reviewed by City staff Review Committee and approved
by the City Manager.
3. Funding will be disbursed upon staff review of documented expenditures and
inspection of a completed project.
Page 290 of 797
FINANCIAL CONSULTANT INFORMATION
This program provides funding in the Greater Downtown Urban Renewal District for hiring
a financial consultant to analyze the feasibility of projects.
Specific Conditions:
• Reimbursement is for fees associated with hiring a professional financial
consultant (i.e. accountant, attorney, tax credit consultant)
• Reimbursable expenditures must be documented.
• This financial consultant funding shall not exceed ten percent (10%) of total
project costs.
• The rehabilitation project must be completed for the Financial Consultant costs
to be reimbursed.
• Funding will be disbursed upon completion of work at a 1:1 match of qualified
costs.
Approval Process:
1. Design review by the City Planning Department and/or the Historical Preservation
Commission is required for exterior work on the project.
2. Grant applications will be reviewed by City staff Review Committee and approved
by the City Manager.
3. Funding will be disbursed upon staff review of documented expenditures and
inspection of a completed project.
Page 291 of 797
PLANNING & DESIGN INFORMATION
This program provides funding in the Greater Downtown Urban Renewal District for hiring
architects, engineers or other professional services used prior to construction.
Grant Specific Conditions:
• Reimbursement is for architectural and engineering fees, feasibility studies,
environmental assessments or other related soft costs.
• Reimbursable expenditures must be documented.
• Owner / developer fees are not permitted as reimbursable expenditures.
• The planning and design funding shall not exceed ten percent (10%) of total
project costs.
• Funding will be disbursed upon completion of the project at a 1:1 match of
qualified costs.
Approval Process:
1. Design review by the City Planning Department and/or the Historical Preservation
Commission is required for exterior work on the project.
2. Grant applications will be reviewed by City staff Review Committee and approved
by the City Manager.
3. Funding will be disbursed upon staff review of documented expenditures and
inspection of a completed project.
Page 292 of 797
EXHIBIT H
DESIGN LETTER
Page 293 of 797
Page 294 of 797
CITY OF DUBUQUE, IOWA
OFFICIAL NOTICE
PUBLIC NOTICE is hereby given that the Dubuque City Council will conduct a public
hearing on the 3rd day of March, 2025, at 6:30 p.m., in the Historic Federal Building, 350
W. 6t" Street, 2nd floor, Dubuque, Iowa, at which meeting the City Council proposes to
take action to approve a Development Agreement between and among the City of
Dubuque, Iowa, FEH Realty, L.L.C., and FEH Associates, Inc., a copy of which is now on
file at the Office of the City Clerk, City Hall, 50 W 13th Street, Dubuque, Iowa, providing
for the issuance of economic development grants (Urban Renewal Tax Increment
Revenue Grant Obligations) described therein in order to carry out the purposes and
objectives of the Urban Renewal Plan for the Greater Downtown Urban Renewal Area,
consisting of the funding of economic development grants for FEH Realty, L.L.C., under
the terms and conditions of the Urban Renewal Plan for the Greater Downtown Urban
Renewal Area. The aggregate amount of the Urban Renewal Tax Increment Revenue
Grant Obligations cannot be determined at the present time but is not expected to exceed
$115,000.
At the meeting, the City Council will receive oral and written comments from any resident
or property owner of said City to the above action. The official City Council agenda will be
posted the Friday before the meeting and will contain public input options. The agenda
can be accessed at https://dubugueia.portal.civicclerk.com/ or by contacting the City
Clerk's Office at 563-589-4100, ctyclerk@cityofdubuque.org.
Written comments on the public hearing may be submitted to the City Clerk's Office by
email at ctyclerk@cityofdubuque.org or by mail to City Hall, 50 W. 131" St., Dubuque, IA
52001, before the scheduled hearing. The City Council will review all written comments
at the time of the hearing.
Documents related to the public hearing are on file in the City Clerk's Office and may be
viewed Monday through Friday between 8:00 a.m. and 5:00 p.m.
Individuals requiring special assistance should contact the City Clerk's Office as soon as
feasible. Deaf or hard -of -hearing individuals can use Relay Iowa by dialing 711 or (800)
735-2942.
Published by order of the City Council given on the 17th day of February 2025.
Adrienne N. Breitfelder, CIVIC, City Clerk
Page 295 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. 13th St., Dubuque, IA 52001, (563) 589-4100
RESOLUTION NO. 55-25
FIXING THE DATE FOR A PUBLIC HEARING OF THE CITY COUNCIL OF THE CITY
OF DUBUQUE, IOWA ON A DEVELOPMENT AGREEMENT BY AND AMONG THE
CITY OF DUBUQUE, IOWA, FEH REALTY, L.L.C., AND FEH ASSOCIATES, INC.,
INCLUDING THE PROPOSED ISSUANCE OF URBAN RENEWAL TAX INCREMENT
REVENUE OBLIGATIONS RELATING THERETO AND PROVIDING FOR THE
PUBLICATION OF NOTICE THEREOF
WHEREAS, City, FEH Realty, L.L.C., and FEH Associates, Inc. have tentatively
entered into a Development Agreement, subject to the approval of the City Council, a copy
of which is now on file at the Office of the City Clerk, City Hall, 50 W. 1311 Street, Dubuque,
Iowa for the development of property located at 902 Main Street; and
WHEREAS, the City Council has tentatively determined that it would be in the best
interests of the City to approve the Development Agreement, with FEH Realty, L.L.C., and
FEH Associates, Inc.; and
WHEREAS, it is deemed necessary and advisable that City should authorize
Urban Renewal Tax Increment Revenue obligations, as provided by Iowa Code Chapter
403 pursuant to the Development Agreement; and
WHEREAS, before said obligations may be approved, Iowa Code Chapter 403
requires that the City Clerk publish a notice of the proposal and of the time and place of
the meeting at which the City Council proposes to take action thereon and at which
meeting the City Council shall receive oral and/or written objections from any resident or
property owner of said City to such proposed action.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF DUBUQUE, IOWA:
Section 1. The City Clerk is hereby authorized and directed to cause a notice to
be published as prescribed by Iowa Code Section 403.9 of a public hearing on the City's
intent to authorize Urban Renewal Tax Increment Revenue obligations, to be held on the
3rd day of March, 2025, at 6:30 p.m. The official City Council agenda will be posted the
Friday before the meeting and will contain public input options. The agenda can be accessed
at https://dubuqueia.portal.civiccierk.com/ or by contacting the City Clerk's Office at 563-
589-4100, ctyclerk@cityofdubuque.org.
Section 2. The City Council will meet at said time and place for the purpose of
taking action on the matter of authorizing Urban Renewal Tax Increment Revenue
obligations and the execution of the Development Agreement relating thereto with FEH
Realty, L.L.C., and FEH Associates, Inc. , the proceeds of which obligations will be used
to carry out certain of the special financing activities described in the Urban Renewal Plan
for the Greater Downtown Urban Renewal District, consisting of the funding of economic
developments grants to FEH Realty, L.L.C., and FEH Associates, Inc. pursuant to the
Development Agreement. It is expected that the aggregate amount of the Tax Increment
Revenue obligations to be issued will be approximately $115,000.
Section 3. The Clerk is hereby directed to cause at least one publication to be
made of a notice of said meeting, in a newspaper, printed wholly in the English language,
published at least once weekly, and having general circulation in said City, said
publication to be not less than four days nor more than twenty days before the date of
said meeting on the issuance of said obligations.
Section 4. That the notice of the proposed action to issue said obligations shall
be in substantially the form attached hereto.
Passed, approved and adopted this 17th day of February, 2025.
an ,Mayor
Attest:
Adrienne N. Breitfelder, City Clerk