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Resolutions of Support for Workforce Housing Tax Credit Applications for Multiple Housing DevelopmentsCity of Dubuque City Council ACTION ITEMS # 3. Copyrighted May 19, 2025 ITEM TITLE: Resolutions of Support for Workforce Housing Tax Credit Applications for Multiple Housing Developments SUMMARY: City Manager recommending City Council approval of the attached resolutions supporting the aforementioned applications for Iowa Workforce Housing Tax Credits for housing development in Dubuque. RESOLUTION Supporting The Submission Of An Iowa Economic Development Authority Application To The Workforce Housing Tax Credit Program By Millwork Flats, L.L.C. RESOLUTION Supporting The Submission Of An Iowa Economic Development Authority Application To The Workforce Housing Tax Credit Program By Gronen Development, Inc. RESOLUTION Supporting The Submission Of An Iowa Economic Development Authority Application To The Workforce Housing Tax Credit Program By Wilson House Apts, LLC RESOLUTION Supporting The Submission Of An Iowa Economic Development Authority Application To The Workforce Housing Tax Credit Program By 1301 Central, LLC RESOLUTION Supporting The Submission Of An Iowa Economic Development Authority Application To The Workforce Housing Tax Credit Program By CC15, LLC. SUGGUESTED Receive and File; Adopt Resolution(s) DISPOSITION: ATTACHMENTS: 1. MVM Memo 2. Staff Memo 3. Input Form 1065 Jackson_Updated_Uploaded 5.19.25 4. Input Form 1065 Jackson 5. Input Form 5th and Mai n_Updated_Uploaded 5.19.25 6. Input Form 5th and Main 7. Input Form 1243 Locust_Updated_Uploaded 5.19.25 Page 895 of 950 8. Input Form 1243 Locust 9. Input Form 1301 Central_Updated_Uploaded 5.19.25 10. Input Form 1301 Central 11. Input Form 320-380 Cedar Cross Road 12. 1065 Jackson WHTC Support Resolution 13. 5th and Main WHTC Support Resolution 14. 1243 Locust WHTC Support Resolution 15. 1301 Central WHTC Support Resolution 16. 320-380 Cedar Cross WHTC Support Resolution Page 896 of 950 Dubuque THE C D!Uj-!B AII-America Ciq 11111.1 II Masterpiece on the Mississippi YP PP zoo�•*o 13 2017202019 TO: The Honorable Mayor and City Council Members FROM: Michael C. Van Milligen, City Manager SUBJECT: Resolutions of Support for Workforce Housing Tax Credit Applications for Multiple Housing Developments DATE: May 13, 2025 Economic Development Director Jill Connors is recommending City Council approval of the attached resolutions supporting the aforementioned applications for Iowa Workforce Housing Tax Credits for housing development in Dubuque. A Community Input Form also accompanies each resolution and requires signature. When developers submit an application to the Iowa Economic Development Authority for Workforce Housing Tax Credits, they are required to attach both a Resolution of Support from the municipality — and new this year, a Community Input Form. This allows the municipality to provide insight into the impact each project will have on the City's housing goals. The following projects have approached City staff requesting support to apply. Most of these projects are located in Dubuque's downtown area, with one on the west end. In September 2022, following a housing study which indicated the need for over 1,100 housing units before the year 2030, the Dubuque City Council approved the expansion of incentives to be offered to developers of housing units. This includes supporting applications for State of Iowa incentive programs in order to facilitate the development of multifamily housing. Millwork Flats, L.L.C. (1065 Jackson Street) The City of Dubuque and Millwork Flats, L.L.C. entered into a Development Agreement on June 17, 2024, for the creation of Sixty -Two (62) rental residential units with an investment of approximately Seventeen Million Five Hundred Thousand Dollars ($17,500,000.00) for the construction of the units. Current modeling is closer to Seventy -Six (76) units with an investment of approximately Twenty -Five Million Five Hundred Thousand Dollars ($25,500,000.00). Gronen Development, Inc. (5t" and Main Streets) The City of Dubuque and Gronen Development, Inc. entered into a Development Agreement on March 17, 2025, for the creation of at least Eighty (80) rental residential units and 8,000 square feet of first -floor commercial space with an investment of approximately Twenty -Four Million Dollars ($24,000,000.00). Current modeling is closer Page 897 of 950 to One Hundred Two (102) residential units with a total investment of approximately Twenty -Eight Million Dollars ($28,000,000.00). Wilson House Apts, LLC (1243 Locust Street) The City of Dubuque and Wilson House Apts, LLC entered into a Development Agreement on May 20, 2024 for the creation of Five (5) new residential units with an investment of approximately One Million Five Hundred Thousand Dollars ($1,500,000.00). The project intends to use historic tax credits. 1301 Central, LLC (1301 Central Avenue) The City of Dubuque and 1300 Central, LLC are negotiating a Development Agreement for the creation of Thirty (30) new residential units and approximately 9,000 SF of commercial space with an investment of approximately Eight Million Dollars ($8,000,000.00). The project intends to use historic tax credits. City staff anticipate bringing the Development Agreement to City Council for review and approval in June 2025. CC15, LLC (380 Cedar Cross Road) The City of Dubuque and CC15, LLC have negotiated a Development Agreement for the creation of One Hundred Eighty (180) new residential units along Cedar Cross Road. The Developer anticipates an investment of approximately Twenty -Three Million Four Hundred Thousand Dollars ($23,400,000.00) to improve the Property in three phases of 60 units each. City staff anticipate bringing the Development Agreement to City Council for review and approval on May 19, 2025. Given the already demonstrated dearth of housing units in Dubuque, and with the pending need to house an additional several hundred students, faculty, and staff of the proposed John and Alice Butler College of Osteopathic Medicine scheduled to open in downtown Dubuque in 2028, it is imperative that to provide support for the construction of additional housing options. The projects meet one or more of these City Council goals: creation of additional housing; located in Dubuque's downtown; and the rehabilitation of an existing structure. From 2010 to 2020, according to the US Census Bureau, of the 99 counties in the State of Iowa only 30 grew in population, and only 8 of those grew by more than 5,000 people. Of those 8 counties that grew by more than 5,000 people only Dubuque County (City of Dubuque) and Scott County (City of Davenport) were outside the Polk County (City of Des Moines)/Story County (City of Ames) and Johnson County (City of Iowa City)/ Linn County (City of Cedar Rapids) corridors. From 2020 to 2024, according to the US Census Bureau's Vintage 2024 population estimates, only 7 counties in the State of Iowa showed a population increase of more than 900 people, and only Dubuque County (+934) was outside the Polk County/Story County and Johnson County/Linn County corridors. 2 Page 898 of 950 This means that according to the US Census Bureau Dubuque County population grew by almost 6,000 people from 2010 to 2024, approaching 100,000 population. Since July 1, 2022, Greater Dubuque Development Corporation reports there has been over $805 million in new construction in Dubuque County creating over 1,000 jobs. The addition of the Iowa Workforce Housing Tax Credit to the capital stack improves the viability of these projects, increasing the developers' ability to adequately address the shortage of housing in the community. I concur with the recommendation and respectfully request Mayor and City Council approval. 1�14� k�4 Mic ael C. Van Milligen MCVM:sv Attachment cc: Crenna Brumwell, City Attorney Cori Burbach, Assistant City Manager Jill Connors, Economic Development Director 3 Page 899 of 950 Dubuque Economic Development Department THE CITY OF 1300 (wain street All•Ameria10V Dubuque, Iowa 52001-4763 UB E I k"I""`"I""q Office (563) 589-4393 1 I I TTY (563) 690-6678 I® http://www.cityofdubuque.org 2007-2012*2013 Masterpiece on the Mississippi 2017*2019 TO: Michael C. Van Milligen, City Manager FROM: Jill M. Connors, Economic Development Director SUBJECT: Resolutions of Support for Workforce Housing Tax Credit Applications for Multiple Housing Developments DATE: May 14, 2025 INTRODUCTION This memorandum presents for City Council approval individual resolutions of support for Workforce Housing Tax Credit Applications to the Iowa Economic Development Department being submitted by multiple developers for redevelopment of five properties in Dubuque. BACKGROUND The Iowa Workforce Housing Tax Credit program provides tax benefits to developers to provide housing in Iowa communities, focusing especially on those projects using abandoned, empty, or dilapidated properties. Total program benefits are limited to one million dollars ($1,000,000) per project. From 2010 to 2020, according to the US Census Bureau, of the 99 counties in the State of Iowa only 30 grew in population, and only 8 of those grew by more than 5,000 people. Of those 8 counties that grew by more than 5,000 people, only Dubuque County (City of Dubuque) and Scott County (City of Davenport) were outside the Polk County (City of Des Moines)/Story County (City of Ames) and Johnson County (City of Iowa City)/ Linn County (City of Cedar Rapids) corridors. From 2020 to 2024, according to the US Census Bureau's Vintage 2024 population estimates, only 7 counties in the State of Iowa showed a population increase of more than 900 people, and only Dubuque County (+934, total population 100,200) was outside the Polk County/Story County and Johnson County/Linn County corridors. Scott County, which Page 900 of 950 was mentioned above as growing from 2010 to 2020, experienced a 19 person decline in this 4 year period. This means that according to the US Census Bureau, Dubuque County population grew by almost 6,000 people from 2010 to 2024, exceeding 100,000 population for the first time ever. Since July 1, 2022 Greater Dubuque Development Corporation reports there has been over $805 million in new construction in Dubuque County creating over 1,000 jobs. When developers submit an application to the Iowa Economic Development Authority for Workforce Housing Tax Credits, they are required to attach both a Resolution of Support from the municipality — and new this year, a Community Input Form. This allows the municipality to provide insight into the impact each project will have on the City's housing goals. The following projects have approached City staff requesting support to apply. Most of these projects are located in Dubuque's downtown area, with one on the west end. Millwork Flats, L.L.C. (1065 Jackson Street) The City of Dubuque and Millwork Flats, L.L.C. entered into a Development Agreement on June 17, 2024, for the creation of Sixty -Two (62) rental residential units with an investment of approximately Seventeen Million Five Hundred Thousand Dollars ($17,500,000.00) for the construction of the units. Current modeling is closer to Seventy -Six (76) units with an investment of approximately Twenty -Five Million Five Hundred Thousand Dollars ($25,500,000.00). Gronen Development, Inc. (5t" and Main Streets) The City of Dubuque and Gronen Development, Inc. entered into a Development Agreement on March 17, 2025, for the creation of at least Eighty (80) rental residential units and 8,000 square feet of first -floor commercial space with an investment of approximately Twenty -Four Million Dollars ($24,000,000.00). Current modeling is closer to One Hundred Two (102) residential units with a total investment of approximately Twenty -Eight Million Dollars ($28,000,000.00). Wilson House Apts, LLC (1243 Locust Street) The City of Dubuque and Wilson House Apts, LLC entered into a Development Agreement on May 20, 2024 for the creation of Five (5) new residential units with an investment of approximately One Million Five Hundred Thousand Dollars ($1,500,000.00). The project intends to use historic tax credits. K Page 901 of 950 1301 Central, LLC (1301 Central Avenue) The City of Dubuque and 1300 Central, LLC are negotiating a Development Agreement for the creation of Thirty (30) new residential units and approximately 9,000 SF of commercial space with an investment of approximately Eight Million Dollars ($8,000,000.00). The project intends to use historic tax credits. City staff anticipate bringing the Development Agreement to City Council for review and approval in June 2025. CC15, LLC (320-380 Cedar Cross Road) The City of Dubuque and CC15, LLC are negotiating a Development Agreement for the creation of One Hundred Eighty (180) new residential units along Cedar Cross Road. The Developer anticipates an investment of approximately Twenty -Three Million Four Hundred Thousand Dollars ($23,400,000.00) to improve the Property in three phases of 60 units each. City staff anticipate bringing the Development Agreement to City Council for review and approval on May 19, 2025. Given the already demonstrated dearth of housing units in Dubuque — which as described above has had an increase in population since 2010 of nearly 6,000 residents — and with the pending need to house an additional several hundred students, faculty, and staff of the proposed college of osteopathic medicine scheduled to open in 2028, it is imperative that we support the construction of additional affordable housing options. The projects meet one or more of these City Council goals: creation of additional affordable housing; located in Dubuque's downtown; and the rehabilitation of an existing structure. The addition of the Iowa Workforce Housing Tax Credit to the capital stack improves the viability of these projects, increasing the developers' ability to adequately address the shortage of housing in the community. RECOMMENDATION I respectfully request City Council approval of the attached resolutions supporting the aforementioned applications for Iowa Workforce Housing Tax Credits for housing development in Dubuque. A Community Input Form also accompanies each resolution and requires signature. 3 Page 902 of 950 Communities supporting a Workforce Housing Tax Incentive Program application are to complete this form. This is to be filled out by the city where the project is being proposed and signed by a city official. Community Name: City of Dubuque Project Name: 1065 Jackson Street Developer Name: Millwork Flats, L.L.C. Printed Name of City Official Completing the Form: Jill Connors, Economic Development Director Is the type of housing proposed in this project a priority for the community? it Yes ❑ No If so, explain why: The project at 1065 Jackson will create 76 modern units in our Historic Millwork District which will complement the apartments in the neighborhood that have rehabilitated historic buildings - thus providing a mix of options that are attractive to our workforce This project meets two City Council priorities addition of housing to the community[, and downtown housing Describe recent or planned business expansions that created a need for additional housing in the community and the number and types of jobs to be created because of these expansions. Since 2021, twelve local businesses have expanded their operations in Dubuque creating an additional 575 new full time jobs. The University of Dubuque is opening the first new medical school in the state of Iowa in over 125 years This new osteopathic college is scheduled to open in downtown Dubuque in 2028, adding over 700 hundred faculty and staff over the next decade The University of Dubuque invested $60 million dollars to expand its flight schnnl increasing Pnrnllment from 250 to nyPr 400 students nuhiiguP County has seen over $800 million in indi istrial and cnmmprcial investment over the past 3 5 years How will the project impact the local economy? The City of Dubuque is in a housing shortage crisis. According to the US Census Bureau the population of Dubuque County grew by almost 6,000 people from 2010 to 2024 nearing a population total of 100,000 for the first time ever. Through creating new residential housing, this project will have a tremendous impact on the economy by reducing the strain on the current housing stock Additionally, this project will create a mixed -use prosy in a historic neighborhood, in a low-income census tract, contributing to a more livable and walkable neighborhood- Describe how housing is a barrier to job growth in the neighborhood or community. Dubuque is currents experiencing a severe housing shortage. In 2022, Greater Dubuque Development Corporation hired a constultant to perform a housing study. The annual homeowner vacancy rate is 0.5% and the annual rental vacancy rate is 1 3% However, the projected employment growth by 2030 is estimated to be 7 6% The study found that Dubuque will need 1 192 new workofrce housing units by 2030 in order to meet the demand created by business growth. Approximately 42% of businesses interviewed said that housing should be a priority, Describe how this project addresses the needs of the local housing market. This project creates 76 new workforce housing units at a time when the City is in dire need of additional housing. Dubuque has a large amount of historic or historic contributing structures that have been rehabilitated, and this infill project will complement those offerings Describe the impact of this project on the neighborhood and how it meets the needs of the community. This project is creating additional housing in the Historic Millwork District, which has been identified in the District's Master Plan as needing to increase The project is revitalizing a vacant and underutilized building_ —recognized through its award of the Grayfield Redevelopment Tax Credit —and is located in a highly visible downtown district It includes first floor commercial and hospitality spare to support its residents and the residents and visitors of the hrnader district The project alsn aligns, with the goals of the Imagine niihii iu- ComprebenSive Plan Date Communities supporting a Workforce Housing Tax Incentive Program application are to complete this form. This is to be filled out by the city where the project is being proposed and signed by a city official. Community Name: City of Dubuque Project Name: 1065 Jackson Street Developer Name: Millwork Flats, L.L.C. Printed Name of City Official Completing the Form: Jill Connors, Economic Development Director Is the type of housing proposed in this project a priority for the community? 91 Yes ❑ No If so, explain why: The project at 1065 Jackson will create 76 modern units in our Historic Millwork District which will complement the apartments in the neighborhood that have rehabilitated historic buildings - thus providing a mix of options that are attractive to our workforce. This project meets two City Council priorities: addition of housing to the community, and downtown housing. Describe recent or planned business expansions that created a need for additional housing in the community and the number and types of jobs to be created because of these expansions. Since 2021, twelve local businesses have expanded their operations in Dubuque creating an additional 575 new full time jobs. The University of Dubuque is opening the first new medical school in the state of Iowa in over 125 years. This new osteopathic college is scheduled to open in downtown Dubuque in 2028, adding over 700 hundred faculty and staff over the next decade. The University of Dubuque invested $60 million dnllars to Pxpand its flight school, increasing enrnllment from 250 to over 400 students_ nuhimuP C:nunty has seen nvpr $800 million istrial and rnimmercial investment nver the past 3 -5 years How will the project impact the local economy? The City of Dubuque is in a housing shortage crisis. According to the US Census Bureau, the population of Dubuque County grew by almost 6,000 people from 2010 to 2024, nearing a population total of 100,000 for the first time ever. Through creating new residential housing, this project will have a tremendous impact on the economy by reducing the strain on the current housing stock. Additionally, this project will create a mixed -use property in a historic neighborhood, in a low-income census tract, contributing to a more livable and walkable neighborhood. Describe how housing is a barrier to job growth in the neighborhood or community. Dubuque is currenty experiencing a severe housing shortage. In 2022, Greater Dubuque Development Corporation hired a constultant to perform a housing study. The annual homeowner vacancy rate is 0.5% and the annual rental vacancy rate is 1.3%. However, the projected employment growth by 2030 is estimated to be 7.6%. The study found that Dubuque will need 1.192 new workofrce housing units by 2030 in order to meet the demand created by business growth. Approximately 42% of businesses interviewed said that housing should be a priority, Describe how this project addresses the needs of the local housing market. This project creates 76 new workforce housing units at a time when the City is in dire need of additional housing. Dubuque has a large amount of historic or historic contributing structures that have been rehabilitated, and this infill project will complement those offerings. Describe the impact of this project on the neighborhood and how it meets the needs of the community. This project is creating additional housing in the Historic Millwork District, which has been identified in the District's Master Plan as needing to increase. It also aligns with the Imagine Dubuque Comprehensive Plan. City Official Signature Date Communities supporting a Workforce Housing Tax Incentive Program application are to complete this form. This is to be filled out by the city where the project is being proposed and signed by a city official. Community Name: City of Dubuque Project Name: 5th and Main Street Developer Name: Gronen Development, Inc. Printed Name of City Official Completing the Form: Jill Connors, Economic Development Director Is the type of housing proposed in this project a priority for the community? 0 Yes ❑ No If so, explain why: This project proposes new c• • of 102•- - corner of • Main Streets. • • • will have-&GOO-SFof ••r commercial space and is located immediately •• , • • , • •• •• Describe recent or planned business expansions that created a need for additional housing in the community and the number and types of jobs to be created because of these expansions. Since 2021, twelve local businesses have expanded their operations in Dubuque creating an additional 575 new full time jobs The University of Dubuque is opening the first new medical school in the state of Iowa in over 125 years. This new osteopathic college is scheduled to open in downtown Dubuque in 2028, adding over 700 hi indr -d faculty and staff over the next decad . The I Jniv .rsity of Dubuque invested $60 million dollars to Pxpc�ttS fl�ht sr.hnnl, inrrPasing PnrnllmPnt from 25n to nvPr 400 students DlihiiguP C'nunty hac sPPn nvPr $Rnn million in industrial and Commprrial jpvPstmant over thelast 3 5yenn; How will the project impact the local economy? The City of Dubuque is in a housinq shortaqe crisis. Accordina to the US Census Bureau. the population of Dubuque County grew by almost 6.000 people from 2010 to 2024, nearing a population total of 100,000 for the first time ever. Through creating new residential housing this project will have a tremendous impact on the economy by reducing the strain on the current housing stock Additionally, this project will create a mixed -use property along a highly visible corridor in a low-income census tract, contributing to a more livable and walkable neighborhood. Describe how housing is a barrier to job growth in the neighborhood or community. Dubuque is currenty experiencing a severe housing shortage. In 2022 Greater Dubuque Development Corporation hired a constultant to perform a housing study. The annual homeowner vacancy rate is 0.5% and the annual rental vacancy rate is 1.3%. However, the projected employment growth by 2030 is estimated to be 7.6%. The study found that Dubuque will need 1,192 new workofrce housing units by 2030 in order to meet the demand created by business growth Approximately 42% of businesses interviewed said that housing should he a priority Describe how this project addresses the needs of the local housing market. This project creates one hundred two (102) new workforce housing units at a time when the City is in dire need of additional housing. Dubuque also has a large amount of historic or historic contributing structures making redevelopment that much more difficult. Describe the impact of this project on the neighborhood and how it meets the needs of the community. This project is located at a highly visible intersection between the entertainment and business centers of the downtown. This infill project will create additional housing for the downtown and introduce additional first floor commercial activity meaning this project meets the neighborhood needs for the downtown as identified in the Imagine Dubuque Compiehensive Plan This pro- _ .t is located directly oPposit . the new nstenpathir�P sr:hediilPd to open in 2028 City Official Signature -5 /�Cy ) Date Communities supporting a Workforce Housing Tax Incentive Program application are to complete this form. This is to be filled out by the city where the project is being proposed and signed by a city official. Community Name: City of Dubuque Project Name: 5th and Main Street Developer Name: Gronen Development, Inc. Printed Name of City Official Completing the Form: Jill Connors, Economic Development Director Is the type of housing proposed in this project a priority for the community? 91 Yes ❑ No If so, explain why: This pro-lect proposes new c• • of 12 residential units at the cornerof • Main Streets. This 5 -story buildina will have 8,000 SIF of ••r commercial spaceand is -located immediately ,about 180 qttidp-its er class by 2030, eve-itually reac�itg 200 stude-its per class for a total e-iroltnett of 800 This• • - 1• - -t City Couticil-nriorities-• • • 1 of 'inusitin to th - • •1 1• • • • Vie creatio-ii of Describe recent or planned business expansions that created a need for additional housing in the community and the number and types of jobs to be created because of these expansions. Since 2021, twelve local businesses have expanded their operations in Dubuque creating an additional 575 new full time jobs. The University of Dubuque is opening the first new medical school in the state of Iowa in over 125 years. This new osteopathic college is scheduled to open in downtown Dubuque in 2028, adding over 700 hundred faculty and staff over the next decade. The University of Dubuque invested $60 million dollars to expand its flight school, increasing enrnllment from 250 to over 400 students_ niihimiie C:niinty has seen nvpr $800 million istrial and rnimmercial investment nver the past 3 -5 years How will the project impact the local economy? The City of Dubuque is in a housing shortage crisis. According to the US Census Bureau, the population of Dubuque County grew by almost 6,000 people from 2010 to 2024, nearing a population total of 100,000 for the first time ever. Through creating new residential housing, this project will have a tremendous impact on the economy by reducing the strain on the current housing stock. Additionally, this project will create a mixed -use property along a highly visible corridor, in a low-income census tract, contributing to a more livable and walkable neighborhood. Describe how housing is a barrier to job growth in the neighborhood or community. Dubuque is currenty experiencing a severe housing shortage. In 2022, Greater Dubuque Development Corporation hired a constultant to perform a housing study. The annual homeowner vacancy rate is 0.5% and the annual rental vacancy rate is 1.3%. However, the projected employment growth by 2030 is estimated to be 7.6%. The study found that Dubuque will need 1.192 new workofrce housing units by 2030 in order to meet the demand created by business growth. Approximately 42% of businesses interviewed said that housing should be a Priority, Describe how this project addresses the needs of the local housing market. This project creates eighty (80) new workforce housing units at a time when the City is in dire need of additional housing. Dubuque also has a large amount of historic or historic contributing structures making redevelopment that much more difficult. Describe the impact of this project on the neighborhood and how it meets the needs of the community. This project is located at a highly visible intersection between the entertainment and business centers of the downtown. This infill project will create additional housing for the downtown and introduce additional first floor commercial activitv. meanina this oroiect meets the neiahborhood needs for the downtown as City Official Signature Date Communities supporting a Workforce Housing Tax Incentive Program application are to complete this form. This is to be filled out by the city where the project is being proposed and signed by a city official. Community Name: City of Dubuque Project Name: Wilson House Apartments Developer Name: Wilson House Apts, LLC Printed Name of City Official Completing the Form: Jill Connors, Economic Development Director Is the type of housing proposed in this project a priority for the community? iff Yes ❑ No If so, explain why: The City of Dubuque has long prioritized the rehabilitation and reuse of its unique existing downtown historic architecture. The renovation of 1243 Locust Street would revitalize an existing structure that has been vacant and underutilized for decades, This eject will bring five new residential rental units to a neighhorhnnd located in the heart of downtown This Proj ..t meets three City Council goals addition of all types of hnusing fnr the nommunitV, a fnr.us nn dnwntnwn hnusingMPVPInnment, and rPhahilitatinn of Describe recent or planned business expansions that created a need for additional housing in the community and the number and types of jobs to be created because of these expansions. Since 2021, 12 local businesses have expanded their operations in Dubuque creating an additional 575 new full time jobs. The University of Dubuque is opening the first new medical school in Iowa in over 125 years. This new osteopathic college is scheduled to open in downtown Dubuque in 2028, adding over 700 hundred faculty and staff over the next decade The University of Dubuque invested $60 million dollars to expand its flight srhnol inrr� enrnllment frnm 290 to nver 40n students DiihUquP C_ oiintVha, Seen over $800 million in industrial and rnmmPrrial investment nver the�naSt i .9 Years How will the project impact the local economy? The City of Dubuque is in a housing shortage crisis. According to the US Census Bureau, the population of Dubuque County grew by almost 6,000 people from 2010 to 2024 nearing a population total of 100,000 for the first time ever. Through creating new residential housing, this project will have a tremendous impact on the economy by reducing the strain on the current housing stock and allow more housing opportunities for future em.ployees of area businesses Additionally, this project will contribute to a more livable and walkable neighborhood in the downtown district, having a positive economic impact on local businesses and Describe how housing is a barrier to job growth in the neighborhood or community. Dubuque is currently experiencing a severe housing shortage. In 2022 Greater Dubuque Development Corporation hired a consulting firm to perform a housing study for the community. The annual homeowner vacancy rate is 0.5% and the annual rental vacancy rate is 1.3%. However, the projected local employment growth by 2030 is estimated to be 7.6%. The study found that Dubuque will need 1,192 new workforce housing units by 2030 in order to meet the demand created by business growth Approximately 42% of businesses interviewed said that housing should be a priority - Describe Describe the impact of this project on the neighborhood and how it meets the needs of the community. ET .■■ M. ■ • ■ • .I Pr-4-IM811110161 •- - .■• -••• Nix III • •-■ ■ • •■ ■ City o iclal Signature' Date 0606060 0 0 0�0 0 0 0 0 0 0 0;0 0000D0ODo�OQOD,,O"or o�rnOnOnnn ��`�� ' FOLLOW US Communities supporting a Workforce Housing Tax Incentive Program application are to complete this form. This is to be filled out by the city where the project is being proposed and signed by a city official. Community Name: City of Dubuque Project Name: Wilson House Apartments Developer Name: Wilson House Apts, LLC Printed Name of City Official Completing the Form: Jill Connors, Economic Development Director Is the type of housing proposed in this project a priority for the community? 91 Yes ❑ No If so, explain why: The City of Dubuque has long prioritized the rehabilitation and reuse of its exsitic historic architecture. The property at 1243 Locust Street would revitalize an exisitng structure that is vacant and underutilized by bringing new residential rental units to the street as well as introducing a commercial storefront on the first floor_ This project meets 3 City Council finals addition of housing to the community, downtown location, and rehahilitation of an existing hijildinq_ Describe recent or planned business expansions that created a need for additional housing in the community and the number and types of jobs to be created because of these expansions. Since 2021, twelve local businesses have expanded their operations in Dubuque creating an additional 575 new full time jobs. The University of Dubuque is opening the first new medical school in the state of Iowa in over 125 years. This new osteopathic college is scheduled to open in downtown Dubuque in 2028, adding over 700 hundred faculty and staff over the next decade. The University of Dubuque invested $60 million dnllars to expand its flight school, increasing enrnllment from 250 to over 400 students_ nuhimue Cnunty has seen nvpr $800 million istrial and rnimmercial investment nver the past 3 -5 years How will the project impact the local economy? The City of Dubuque is in a housing shortage crisis. According to the US Census Bureau, the population of Dubuque County grew by almost 6,000 people from 2010 to 2024, nearing a population total of 100,000 for the first time ever. Through creating new residential housing, this project will have a tremendous impact on the economy by reducing the strain on the current housing stock. Additionally, this project will create a mixed -use property along a highly visible corridor, in a low-income census tract, contributing to a more livable and walkable neighborhood. Describe how housing is a barrier to job growth in the neighborhood or community. Dubuque is currently experiencing a severe housing shortage. In 2022, Greater Dubuque Development Corporation hired a consultant to perform a housing study. The annual homeowner vacancy rate is 0.5% and the annual rental vacancy rate is 1.3%. However, the projected employment growth by 2030 is estimated to be 7.6%. The study found that Dubuque will need 1.192 new workofrce housing units by 2030 in order to meet the demand created by business growth. Approximately 42% of businesses interviewed said that housing should be a Priority, Describe how this project addresses the needs of the local housing market. This project creates five new workforce housing units at a time when the City is in dire need of additional housing. Dubuque also has a large amount of historic or historic contributing structures making redevelopment that much more difficult. This project is layering state and federal tax credits to create new housing while preserving the significant architecture that sets Dubuque apart from other Iowa communities. Describe the impact of this project on the neighborhood and how it meets the needs of the community. This project is revitalizing a vacant and underutilized building in a highly visible neighborhood that is a gateway corridor to the downtown coming from the west end. By bringing the property back into code compliance. creatina additional housina for the neiahborhood. and introducina additional first floor City Official Signature Date Communities supporting a Workforce Housing Tax Incentive Program application are to complete this form. This is to be filled out by the city where the project is being proposed and signed by a city official. Community Name: City of Dubuque Project Name: 1301 Central Avenue Developer Name: Miller Development Printed Name of City Official Completing the Form: Jill Connors, Economic Development Director Is the type of housing proposed in this project a priority for the community? Yes ❑ No If so, explain why: The City of Dubuque has long prioritized the rehabilitation and reuse of its existing historic architecture. The property at 1301 Central Avenue would revitalize an existing structure that is vacant and underutilized by bringing 30 upper story residential rental unit o the street as well as introducing a 9 200 SF commercial storefront on the first floor This project meets 3 City Counril goals: addition of housing to the community - downtown Incation,_and rehahilitation of an existing huilding Describe recent or planned business expansions that created a need for additional housing in the community and the number and types of jobs to be created because of these expansions. Since 2021, twelve local businesses have expanded their operations in Dubuque creating an additional 575 new full time jobs The University of Dubuque is opening the first new medical school in the state of Iowa in over 125 years. This new osteopathic college is scheduled to open in downtown Dubuque in 2028, adding over 700 hundred faculty and staff over the next d ..ad . The I Iniv .rsity of Dubuque invested $60 million dollars to expand its flight School increagi� Pnrnllment frnm 25n to nver 400 students niihimue Cniinty How will the project impact the local economy? The Citv of Dubuque is in a housing shortage crisis. According to the US Census Bureau. the population of Dubuque County grew by almost 6,000 people from 2010 to 2024, nearing a population total of 100,000 for the first time ever. Through creating new residential housing this project will have a tremendous impact on the economy by reducing the strain on the current housing stock. Additionally, this project will create a mixed -use property along a highly visible corridor, in a low-income census tract, contributing to a more livable and walkable neighborhood. Describe how housing is a barrier to job growth in the neighborhood or community. Dubuque is currents experiencing a severe housing shortage. In 2022 Greater Dubuque Development Corporation hired a constultant to perform a housing study. The annual homeowner vacancy rate is 0.5% and the annual rental vacancy rate is 1.3%. However, the projected employment growth by 2030 is estimated to be 7 6% The study found that Dubuque will need 1.192 new workofrce housing units by 2030 in order to meet the demand created by business growth Approximately 42% of businesses interviewed said that housing should be a priority Describe how this project addresses the needs of the local housing market. This project creates 30 new workforce housing units at a time when the City is in dire need of additional housing. Dubuque also has a large amount of historic or historic contributing structures making redevelopment that much more difficult This project is layering state and federal tax credits to create new housing while preserving the significant architecture that sets Dubuque apart from other Iowa communities Describe the impact of this project on the neighborhood and how it meets the needs of the community. This project is revitalizing a vacant and underutilized building in a highly visible neighborhood that is a gateway corridor to the downtown coming from the north end The City Council has prioritized the revitalization of the Central Avenue Corridor. By bringing the property back into use creating additional housing for the neighborhnod and introducing additional first floor commercial activity, this projPct meets the neighhnrhnod needs fnr the dnwntnwn as identified in the Imagine nuhiiguP Cnmprphensive Plan s/aola�,� Date O�O0OpOpO0Or�0000000CC�00� cLOcZOnOnO 0 0(,on�n�r,C'n�n` FOLLOW US �\® Ira Communities supporting a Workforce Housing Tax Incentive Program application are to complete this form. This is to be filled out by the city where the project is being proposed and signed by a city official. Community Name: City of Dubuque Project Name: 1301 Central Avenue Developer Name: Miller Development Printed Name of City Official Completing the Form: Jill Connors, Economic Development Director Is the type of housing proposed in this project a priority for the community? 91 Yes ❑ No If so, explain why: The City of Dubuque has long prioritized the rehabilitation and reuse of its existing historic architecture. The property at 1301 Central Avenue would revitalize an existing structure that is vacant and underutilized by bringing 30 upper story residential rental units to the street as well as introducing a 9,200 SF commercial storefront on the first floor. This eject meets 3 City Council goals: addition of hnusing to the community_ dnwntown Incatinn, and rehahilitation of an existing huilding_ Describe recent or planned business expansions that created a need for additional housing in the community and the number and types of jobs to be created because of these expansions. Since 2021, twelve local businesses have expanded their operations in Dubuque creating an additional 575 new full time jobs. The University of Dubuque is opening the first new medical school in the state of Iowa in over 125 years. This new osteopathic college is scheduled to open in downtown Dubuque in 2028, adding over 700 hundred faculty and staff over the next decade. The University of Dubuque invested $60 million dnllars to expand its flight school, increasing enrnllmPnt from 250 to over 400 students_ nuhimuP Cnunty has seen nvpr $800 million istrial and rnimmercial investment nver the past 3 -5 years How will the project impact the local economy? The City of Dubuque is in a housing shortage crisis. According to the US Census Bureau, the population of Dubuque County grew by almost 6,000 people from 2010 to 2024, nearing a population total of 100,000 for the first time ever. Through creating new residential housing, this project will have a tremendous impact on the economy by reducing the strain on the current housing stock. Additionally, this project will create a mixed -use property along a highly visible corridor, in a low-income census tract, contributing to a more livable and walkable neighborhood. Describe how housing is a barrier to job growth in the neighborhood or community. Dubuque is currenty experiencing a severe housing shortage. In 2022, Greater Dubuque Development Corporation hired a constultant to perform a housing study. The annual homeowner vacancy rate is 0.5% and the annual rental vacancy rate is 1.3%. However, the projected employment growth by 2030 is estimated to be 7.6%. The study found that Dubuque will need 1.192 new workofrce housing units by 2030 in order to meet the demand created by business growth. Approximately 42% of businesses interviewed said that housing should be a Priority, Describe how this project addresses the needs of the local housing market. This project creates 30 new workforce housing units at a time when the City is in dire need of additional housing. Dubuque also has a large amount of historic or historic contributing structures making redevelopment that much more difficult. This project is layering state and federal tax credits to create new housing while preserving the significant architecture that sets Dubuque apart from other Iowa communities. Describe the impact of this project on the neighborhood and how it meets the needs of the community. This project is revitalizing a vacant and underutilized building in a highly visible neighborhood that is a gateway corridor to the downtown coming from the north end. By bringing the property back into use, creatina additional housina for the neiahborhood. and introducina additional first floor commercial activitv. City Official Signature Date Communities supporting a Workforce Housing Tax Incentive Program application are to complete this form. This is to be filled out by the city where the project is being proposed and signed by a city official. Community Name: City of Dubuque Project Name: 320-380 Cedar Cross Road Developer Name: CC15, LLC Printed Name of City Official Completing the Form: Jill Connors, Economic Development Director Is the type of housing proposed in this project a priority for the community? 91 Yes ❑ No If so, explain why: This project proposes new construction of 180 residential units along the busy corridor of Cedar Cross Road on Dubuque's west end. This project meets the City Council priority of the addition of housing to the Describe recent or planned business expansions that created a need for additional housing in the community and the number and types of jobs to be created because of these expansions. Since 2021, twelve local businesses have expanded their operations in Dubuque creating an additional 575 new full time jobs. The University of Dubuque is opening the first new medical school in the state of Iowa in over 125 years. This new osteopathic college is scheduled to open in downtown Dubuque in 2028, adding over 700 hundred faculty and staff over the next decade. The University of Dubuque invested $60 million dnllars to Pxpand its flight school, increasing enrnllment from 250 to over 400 students_ niihimiiP C:niinty has seen nvpr $800 million istrial and rnimmercial investment nver the past 3 -5 years How will the project impact the local economy? The City of Dubuque is in a housing shortage crisis. According to the US Census Bureau, the population of Dubuque County grew by almost 6,000 people from 2010 to 2024, nearing a population total of 100,000 for the first time ever. Through creating new residential housing, this project will have a tremendous impact on the economy by reducing the strain on the current housing stock. Additionally, this project will create a six - building apartment complex along a highly visible corridor near shopping and the west end industrial park, Describe how housing is a barrier to job growth in the neighborhood or community. Dubuque is currenty experiencing a severe housing shortage. In 2022, Greater Dubuque Development Corporation hired a constultant to perform a housing study. The annual homeowner vacancy rate is 0.5% and the annual rental vacancy rate is 1.3%. However, the projected employment growth by 2030 is estimated to be 7.6%. The study found that Dubuque will need 1.192 new workofrce housing units by 2030 in order to meet the demand created by business growth. Approximately 42% of businesses interviewed said that housing should be a Priority, Describe how this project addresses the needs of the local housing market. This project creates one hundred eighty (180) new workforce housing units at a time when the City is in dire need of additional housing, so this project takes a large "bite" out of the housing shortage. Describe the impact of this project on the neighborhood and how it meets the needs of the community. This project is located along a highly visible corridor. This infill project will create additional housing for the west end. near the west end industrial nark and sh000ina centers. City Official Signature Date Prepared by: Jill Connors, Economic Development, 1300 Main Street, Dubuque IA 52001, 563 589-4213 Return to: Adrienne Breitfelder, City Clerk, 50 E. 13th Street, Dubuque IA 52001, 563 589-4100 RESOLUTION NO. 174-25 SUPPORTING THE SUBMISSION OF AN IOWA ECONOMIC DEVELOPMENT AUTHORITY APPLICATION TO THE WORKFORCE HOUSING TAX CREDIT PROGRAM BY MILLWORK FLATS, L.L.C. WHEREAS, Millwork Flats, L.L.C. (Developer) owns the following described real property in the City of Dubuque, Iowa: CITY LOTS 384-387 & S 1/2 OF CITY LOT 388 (1065 JACKSON, 163 E 10TH); locally known as 1065 Jackson Street (the Property); and WHEREAS, Developer proposes to construct Seventy -Six (76) multi -family residential units on the Property (the Project) and invest approximately Twenty -Five Million Five Hundred Thousand Dollars ($25,500,000.00) in the Project; and WHEREAS, the Project is located in the Greater Downtown Urban Renewal Area which has been so designated by City Council Resolution 123-67, on May 18, 1967 as a slum and blighted area (the Project Area) defined by Iowa Code Chapter 403 (the Urban Renewal Law); and WHEREAS, the Project will support the City's efforts to create new housing opportunities for a growing workforce within the community; and WHEREAS, Developer has committed a significant amount of private financing to the Project; and WHEREAS, pursuant to Iowa Code Section 403.6(1), and in conformance with the Urban Renewal Plan for the Project Area adopted on May 18, 1967 and last amended on April 21, 2025, City has the authority to enter into contracts and agreements to implement the Urban Renewal Plan, as amended, including the issuance of Economic Development Grants and Urban Tax Increment Revenue Obligations; and WHEREAS, the City and Developer have executed a Development Agreement dated June 17, 2024, including the issuance of a $500,000 Forgivable Loan and Urban Tax Increment Revenue Obligations, (the Agreement); and WHEREAS, Developer's application to the Workforce Housing Tax Credit Program, will provide necessary tax credits and other benefits which will directly contribute to the success of the Project; and WHEREAS, the City Council finds that the application to the Workforce Housing Tax Credit Program by Millwork Flats, L.L.C. is in the best interests of the City of Dubuque and should be supported NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DUBUQUE, IOWA: Section 1. That the City Council of the City of Dubuque hereby supports the submission of an Iowa Economic Development Authority Application to the Workforce Housing Tax Credit Program by Millwork Flats, L.L.C. for necessary tax credits and other benefits directly contributing to the success of the Project at 1065 Jackson Street, Dubuque, Iowa 52001. Passed, approved and adopted this 19th day of May, 2025. . • 4--Mayor Attest: Adrienne N. Breitfelder, City Clerk Prepared by: Jill Connors, Economic Development, 1300 Main Street, Dubuque IA 52001, 563 589-4213 Return to: Adrienne Breitfelder, City Clerk, 50 E. 1311 Street, Dubuque IA 52001, 563 589-4100 RESOLUTION NO. 175-25 SUPPORTING THE SUBMISSION OF AN IOWA ECONOMIC DEVELOPMENT AUTHORITY APPLICATION TO THE WORKFORCE HOUSING TAX CREDIT PROGRAM BY GRONEN DEVELOPMENT, INC. WHEREAS, City is the owner of the following real estate located in the City of Dubuque, County of Dubuque, State of Iowa, consisting of 0.67 acres, BILK 17 DUBUQUE DOWNTOWN PLAZA (the Property); and WHEREAS, Gronen Development, Inc. (Developer) has requested that City sell to Developer the Property together with all easements, tenements, hereditaments and appurtenances belonging thereto (Property), and City has agreed to sell the Property to Developer subject to and in accordance with the terms of an executed Development Agreement dated March 17, 2025 (Agreement); and WHEREAS, Developer desires to construct a total of One Hundred Two (102) apartment units and 8,000 square feet of commercial space on the Property (the Project); and WHEREAS, the Project will support the City's efforts to create new housing opportunities for a growing workforce within the community; and WHEREAS, Developer has committed a significant amount of private financing to the Project; and WHEREAS, the Project is located in the Greater Downtown Urban Renewal Area which has been so designated by City Council Resolution 123-67, on May 18, 1967 as a slum and blighted area (the Project Area) defined by Iowa Code Chapter 403 (the Urban Renewal Law); and WHEREAS, pursuant to Iowa Code Section 403.6(1), and in conformance with the Urban Renewal Plan for the Project Area adopted on May 18, 1967 and last amended on April 21, 2025, City has the authority to enter into contracts and agreements to implement the Urban Renewal Plan, as amended, including the issuance of Economic Development Grants and Urban Tax Increment Revenue Obligations; and WHEREAS, once completed, the Agreement provides the Property 15 years of Urban Tax Increment Revenue Obligations subject to a Minimum Assessment Agreement; and WHEREAS, Developer's application to the Workforce Housing Tax Credit Program, will provide necessary tax credits and other benefits which will directly contribute to the success of the Project; and WHEREAS, the City Council find that the application to the Workforce Housing Tax Credit Program by Gronen Development, Inc. is in the best interests of the City of Dubuque and should be approved NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DUBUQUE, IOWA: Section 1. That the City Council of the City of Dubuque hereby supports the submission of an Iowa Economic Development Authority Application to the Workforce Housing Tax Credit Program by Gronen Development, Inc. for necessary tax credits and other benefits directly contributing to the success of the Project at 5th and Main Streets, Dubuque, Iowa 52001. Passed, approved and adopted this 191h day of May, 2025. Brad M. Cava, Mayor Attest: Adrienne N. Breitfelder, City Clerk Prepared by: Jill Connors, Economic Development, 1300 Main Street, Dubuque IA 52001, 563 589-4213 Return to: Adrienne Breitfelder, City Clerk, 50 E. 1311 Street, Dubuque IA 52001, 563 589-4100 RESOLUTION NO. 176-25 SUPPORTING THE SUBMISSION OF AN IOWA ECONOMIC DEVELOPMENT AUTHORITY APPLICATION TO THE WORKFORCE HOUSING TAX CREDIT PROGRAM BY WILSON HOUSE APTS, LLC WHEREAS, Wilson House Apts, LLC (Developer) owns the following described real property in the City of Dubuque, Iowa: The Northerly 64 feet of Out Lot No. 662A in the Town (now City) of Dubuque, Iowa, according to the United States Commissioners' Plat of the Survey of said Town of Dubuque (the Property); and WHEREAS, Developer plans to rehabilitate the existing structure to construct five (5) multi -family residential units on the Property (the Project) and invest approximately One Million Five Hundred Thousand Dollars ($1,500,000.00) in the Project; and WHEREAS, the Project is located in the Greater Downtown Urban Renewal Area which has been so designated by City Council Resolution 123-67, on May 18, 1967 as a slum and blighted area (the Project Area) defined by Iowa Code Chapter 403 (the Urban Renewal Law); and WHEREAS, the Project will support the City's efforts to create new housing opportunities for a growing workforce within the community; and WHEREAS, Developer has committed a significant amount of private financing to the Project; and WHEREAS, pursuant to Iowa Code Section 403.6(1), and in conformance with the Urban Renewal Plan for the Project Area adopted on May 18, 1967, and last amended on Apol 21, 2025, City has the authority to enter into contracts and agreements to implement the Urban Renewal Plan, as amended, including the issuance of Economic Development Grants and Urban Tax Increment Revenue Obligations; and WHEREAS, the City and Developer have executed a Development Agreement dated May 20, 2024, as amended, including the issuance of Urban Tax Increment Revenue Obligations, (the Agreement); and WHEREAS, Developer's application to the Workforce Housing Tax Credit Program, will provide necessary tax credits and other benefits which will directly contribute to the success of the Project; and WHEREAS, the City Council finds that the application to the Workforce Housing Tax Credit Program by Wilson House Apts, LLC is in the best interests of the City of Dubuque and should be supported. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DUBUQUE, IOWA: Section 1. That the City Council of the City of Dubuque hereby supports the submission of an Iowa Economic Development Authority Application to the Workforce Housing Tax Credit Program by Wilson House Apts, LLC for necessary tax credits and other benefits directly contributing to the success of the Project at 1243 Locust Street, Dubuque, Iowa 52001. Passed, approved and adopted this 19th day of May, 2025. Attest: Adrienne N. Breitfelder, City Clerk Prepared by: Jill Connors, Economic Development, 1300 Main Street, Dubuque IA 52001, 563 589-4213 Return to: Adrienne Breitfelder, City Clerk, 50 E. 1311 Street, Dubuque IA 52001, 563 589-4100 RESOLUTION NO. 177-25 SUPPORTING THE SUBMISSION OF AN IOWA ECONOMIC DEVELOPMENT AUTHORITY APPLICATION TO THE WORKFORCE HOUSING TAX CREDIT PROGRAM BY 1301 CENTRAL, LLC WHEREAS, 1301 CENTRAL, LLC (Developer) owns the following described real property in the City of Dubuque, Iowa: TRACT Lot 1, Lot 2, and Lot 2 of Lot 3 all of the subdivision of the south half of Out Lot 456, in the City of Dubuque, Iowa according to the recorded Plats of said respective Subdivision. TRACT II. The Middle 1/5 of Out Lot 449 in the City of Dubuque, Iowa, according to the United States Commissioners' Map thereof. The South'/2 of the North Middle 1/5 of Out Lot 449, in the City of Dubuque, Iowa, according to the United States Commissioners' Map thereof. The North 1/5 and the North '/2 of the North Middle 1/5 of Out Lot 449 in the City of Dubuque, Iowa, according to the United States Commissioners' Map thereof. Lot 4 of the South'/2 of Out Lot 456, and Lot 1 of Lot 3 of the South'/2 of Out Lot 456, in the City of Dubuque, Iowa, according to the recorded Plats thereof. The Southerly 2/5ths of Out Lot 449 in the City of Dubuque, Iowa, according to the United States Commissioners' Map of the Survey of Said Town of Dubuque, Iowa. TRACT 111. The North '/2 of the Middle 1/5 of Out Lot 456 in the City of Dubuque, Iowa, according to the United States Commissioners' Map thereof. Tract IV. City Lot 449A in the City of Dubuque, Iowa, according to the Plat recorded as Instrument #16133-02, records of Dubuque County, Iowa. (the Property); and WHEREAS, Developer plans to rehabilitate the existing structure to construct thirty (30) multi -family residential units on the Property (the Project) and invest approximately Eight Million Dollars ($8,000,000.00) in the Project; and WHEREAS, the Project is located in the Greater Downtown Urban Renewal Area which has been so designated by City Council Resolution 123-67, on May 18, 1967 as a slum and blighted area (the Project Area) defined by Iowa Code Chapter 403 (the Urban Renewal Law); and WHEREAS, the Project will support the City's efforts to create new housing opportunities for a growing workforce within the community; and WHEREAS, Developer has committed a significant amount of private financing to the Project; and WHEREAS, pursuant to Iowa Code Section 403.6(1), and in conformance with the Urban Renewal Plan for the Project Area adopted on May 18, 1967 and last amended on April 21, 2025, City has the authority to enter into contracts and agreements to implement the Urban Renewal Plan, as amended, including the issuance of Economic Development Grants and Urban Tax Increment Revenue Obligations; and WHEREAS, the City and Developer anticipate City approval of a Development Agreement scheduled for public hearing June 2, 2025, including the issuance of Urban Tax Increment Revenue Obligations, (the Agreement); and WHEREAS, Developer's application to the Workforce Housing Tax Credit Program, will provide necessary tax credits and other benefits which will directly contribute to the success of the Project; and WHEREAS, the City Council finds that the application to the Workforce Housing Tax Credit Program by 1301 CENTRAL, LLC is in the best interests of the City of Dubuque and should be supported NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DUBUQUE, IOWA: Section 1. That the City Council of the City of Dubuque hereby supports the submission of an Iowa Economic Development Authority Application to the Workforce Housing Tax Credit Program by 1301 Central, LLC for necessary tax credits and other benefits directly contributing to the success of the Project at 1301 Central Avenue, Dubuque, Iowa 52001. Passed, approved and adopted this 19th day of May, 2025. Attest: Adrienne N. Breitfelder, City Clerk Prepared by: Jill Connors, Economic Development, 1300 Main Street, Dubuque IA 52001, 563 589-4213 Return to: Adrienne Breitfelder, City Clerk, 50 E. 13th Street, Dubuque IA 52001, 563 589-4100 RESOLUTION NO. -25 SUPPORTING THE SUBMISSION OF AN IOWA ECONOMIC DEVELOPMENT AUTHORITY APPLICATION TO THE WORKFORCE HOUSING TAX CREDIT PROGRAM BY CC15, LLC. WHEREAS, CC15, LLC (Developer) owns the following described real property in the City of Dubuque, Iowa: Lot 2 of 2 of Mineral Lot 230, Lot 1 of Lot 3 of Mineral Lot 232, and Lot 2 of Merfeld Acres, all in the City of Dubuque, Iowa and as shown on Exhibit A (the Plat) which is currently being replatted to be known as Lots 1, 2, and 3 of Cedar Ridge Commercial Park at 320-380 Cedar Cross Road, Dubuque, Iowa 52003 (the Property); and WHEREAS, Developer proposes to construct one hundred eighty (180) multi -family residential units on the Property (the Project) and invest approximately Twenty -Three Million Four Hundred Thousand Dollars ($23,400,000.00) in the Project; and WHEREAS, the Project will support the City's efforts to create new housing opportunities for a growing workforce within the community; and WHEREAS, Developer has committed a significant amount of private financing to the Project; and WHEREAS, the City and Developer have negotiated a Development Agreement scheduled for consideration on May 19, 2025, (the Agreement); and WHEREAS, Developer's application to the Workforce Housing Tax Credit Program, will provide necessary tax credits and other benefits which will directly contribute to the success of the Project; and WHEREAS, the City Council finds that the application to the Workforce Housing Tax Credit Program by CC15, LLC is in the best interests of the City of Dubuque and should be supported. Page 930 of 950 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DUBUQUE, IOWA: Section 1. That the City Council of the City of Dubuque hereby supports the submission of an Iowa Economic Development Authority Application to the Workforce Housing Tax Credit Program by CC15, LLC for necessary tax credits and other benefits directly contributing to the success of the Project. Passed, approved and adopted this 191" day of May, 2025. Brad M. Cavanagh, Mayor Attest: Adrienne N. Breitfelder, City Clerk Page 931 of 950