Approving the Consent to Assignment in the Development Agreement with CARich Properties, LLCCity of Dubuque
City Council
CONSENT ITEMS # 23.
Copyrighted
December 15, 2025
ITEM TITLE: Resolution Approving the Consent to Assignment in the
matter of the Development Agreement by and between the
City of Dubuque, Iowa and CARich Properties, LLC
SUMMARY: City Manager recommending City Council adopt the attached
Resolution approving the consent to the assignment by the
Developer, CARich Properties, LLC, of its rights and
obligations in the Development Agreement, dated August 3,
2025, by and between the City of Dubuque and CARich
Properties, LLC, to Rider Lacy Block, LLC.
RESOLUTION Approving The Assignment Of The
Development Agreement By And Between The City Of
Dubuque And CARich Properties, LLC To Rider Lacy Block,
LLC
SUGGUESTED Receive and File; Adopt Resolution(s)
DISPOSITION:
ATTACHMENTS:
1. MVM Memo
2. MVM_Assignment Memo_12-10-2025
3. Resolution
4. Assignment of Development
Page 611 of 1019
Dubuque
THE CITY OF
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Masterpiece on the Mississippi zoo�•*o
rP PP 2017202019
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: Resolution Approving the Consent to Assignment in the matter of the
Development Agreement by and between the City of Dubuque, Iowa and
CARich Properties, LLC
DATE: December 11, 2025
Senior Counsel Barry Lindahl is recommending City Council adopt the attached
Resolution approving the consent to the assignment by the Developer, CARich
Properties, LLC, of its rights and obligations in the Development Agreement, dated
August 3, 2025, by and between the City of Dubuque and CARich Properties, LLC, to
Rider Lacy Block, LLC.
CARich Properties, LLC agreed to undertake the redevelopment of a vacant building
located on the Property. The property was owned by CARich Properties, LLC,
Managing Member, Chris Richard. CARich Properties, LLC has transferred the
property to Rider Lacy Block, LLC and Rider Lacy Block, LLC will complete the
redevelopment.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
1�14� k�4 S4-zn"
Mic ael C. Van Milligen
MCVM:sv
Attachment
cc: Crenna Brumwell, City Attorney
Cori Burbach, Assistant City Manager
Barry Lindahl, Senior Counsel
Jill Connors, Economic Development Director
Page 612 of 1019
THE CITY OF
DUB E
Masterpiece on the Mississippi
BARRY A. LINDAHL, ESQ.
SENIOR COUNSEL
MEMO
To: Michael C. Van Milligen
City Manager
DATE: December 15, 2025
Dubuque
NI-Aseriea City
1L I I A l l
2007-2012.2013
2017*2019
RE: Resolution Approving the Consent to Assignment in the matter of the
Development Agreement by and between the City of Dubuque, Iowa and
CARich Properties, LLC
A Development Agreement by and among the City of Dubuque, Iowa, an Iowa Municipal
Corporation, of Dubuque, Iowa, and CARich Properties, LLC was made regarding the
following described premises:
The South One -Fifth and the South 14 Feet of the South Middle One -Fifth of Out Lot 440
in the City of Dubuque, Iowa, according to the United States Commissioners Map of the
Town of Dubuque, Iowa
(locally known as 1706 Central Avenue).
The property at 1706 Central Avenue is a nearly vacant, mixed -use building in the Central
Avenue Corridor.
CARich Properties, LLC agreed to undertake the redevelopment of a vacant building
located on the Property. The property was owned by CARich Properties, LLC, Managing
Member, Chris Richard. CARich Properties, LLC has transferred the property to Rider
Lacy Block, LLC and Rider Lacy Block, LLC will complete the redevelopment..
This memorandum is a request for the City Council to adopt the attached Resolution
approving the consent to the assignment by the Developer, CARich Properties, LLC, of
its rights and obligations in the Development Agreement, dated August 3, 2025, by and
between the City of Dubuque and CARich Properties, LLC, to Rider Lacy Block, LLC.
OFFICE OF THE CITY ATTORNEY DUBUQUE, IOWA
SUITE 330, HARBOR VIEW PLACE, 300 MAIN STREET DUBUQUE, IA 52001-6944
TELEPHONE (563) 583-4113 / FAx (563) 583-1040 / EMAIL balesq@cityofdubuque.org
Page 613 of 1019
I recommend the attached Resolution approving the Consent to Assignment of the
Development Agreement by CARich Properties, LLC to Rider Lacy Block, LLC be
submitted to the City Council for consideration and adoption.
BAL:JLM
cc: Jill Connors, Economic Development Director
OFFICE OF THE CITY ATTORNEY DUBUQUE, IOWA
SUITE 330, HARBOR VIEW PLACE, 300 MAIN STREET DUBUQUE, IA 52001-6944
TELEPHONE (563) 583-4113 / FAx (563) 583-1040 / EMAIL tsteckle@cityofdubuque.org
Page 614 of 1019
Prepared by Jill Connors 50 W 131h Street Dubuque IA 52001 563 589-4393
RESOLUTION NO. 391-25
APPROVING THE ASSIGNMENT OF THE DEVELOPMENT AGREEMENT BY AND
BETWEEN THE CITY OF DUBUQUE AND CARICH PROPERTIES, LLC TO RIDER
LACY BLOCK, LLC
WHEREAS, the City Council of the City of Dubuque on August 3, 2020, approved
a Development Agreement by and between the City of Dubuque and CARich Properties,
LLC as Developer; and
WHEREAS, pursuant to the terms of the Development Agreement, Developer is
required to provide certain improvements to real estate legally described as:
THE SOUTH ONE -FIFTH AND THE SOUTH 14 FEET OF THE SOUTH MIDDLE
ONE -FIFTH OF OUT LOT 440 IN THE CITY OF DUBUQUE, IOWA, ACCORDING
TO THE UNITED STATES COMMISSIONERS MAP OF THE TOWN OF
DUBUQUE, IOWA
and
WHEREAS, CARich Properties LLC, as Developer, desires to assign all of its
rights and obligations under the Development Agreement to Rider Lacy Block, LLC and
Rider Lacy Block, LLC desires to accept such rights and obligations on the terms and
conditions set forth in the Assignment of Development Agreement attached hereto; and
WHEREAS, the Development Agreement requires the consent of City to an
assignment; and
WHEREAS, the City Council finds that consent to the Assignment of Development
Agreement is in the best interest of the City of Dubuque.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
DUBUQUE, IOWA:
SECTION 1. The Assignment of Development Agreement is hereby approved.
SECTION 2. The Mayor is hereby authorized and directed to execute the
Assignment of Development Agreement on behalf of the City of Dubuque.
Passed, approved and adopted the 151" day of December, 2025.
Brad M,..C%avanagh, Mayor
Attest:
Adrienne N. Breitfelder, "City Clerk
ASSIGNMENT OF DEVELOPMENT AGREEMENT
THIS ASSIGNMENT OF DEVELOPMENT AGREEMENT (Assignment), dated for
reference purposes the 10t" day of December, 2025, is made and entered into by and
between CARich Properties, LLC (Assignor Developer) and Rider Lacy Block, LLC
(Assignee Developer).
WHEREAS, the City of Dubuque (City) and Developer entered into a Development
Agreement dated August 3, 2020 (the Development Agreement), as amended; and
WHEREAS, pursuant to the terms of the Development Agreement, Developer is
required to provide certain Minimum Improvements to real estate legally described as:
THE SOUTH ONE -FIFTH AND THE SOUTH 14 FEET OF THE SOUTH MIDDLE
ONE -FIFTH OF OUT LOT 440 IN THE CITY OF DUBUQUE, IOWA, ACCORDING
TO THE UNITED STATES COMMISSIONERS MAP OF THE TOWN OF
DUBUQUE, IOWA
(the Property); and
WHEREAS, Developer desires to assign all of its rights and obligations under the
Development Agreement to Rider Lacy Block, LLC and Rider Lacy Block, LLC desires to
accept such rights and obligation on the terms and conditions set forth in this Assignment
of Development Agreement; and
WHEREAS, the Development Agreement requires the consent of City to an
assignment; and
WHEREAS, the City Council finds that consent to the Assignment of Development
Agreement is in the best interest of City.
NOW, THEREFORE, the parties to this Assignment of Development Agreement,
in consideration of the promises, covenants and agreements made by each other, do
hereby agree as follows:
Page 617 of 1019
SECTION 1. ASSIGNMENT. Developer does hereby assign, transfer and convey
to Rider Lacy Block, LLC each and every right and obligation of Developer in and under
the Development Agreement.
SECTION 2. ACCEPTANCE. Rider Lacy Block, LLC does hereby accept all rights
and obligations of Developer under the Development Agreement and agrees to be bound
by such agreement and to be responsible for every obligation of Developer thereunder.
SECTION 3. All references to Developer in the Development Agreement shall
hereafter mean Rider Lacy Block, LLC.
SECTION 4. MISCELLANEOUS. This Agreement is binding upon the parties
hereto and their successors and permitted assigns and shall be governed by and
construed under the laws of the state of Iowa.
CARW PROPERTIES, LLC
Chrls R' hard, Manabif g Member
STATE OF IOWA )
) ss:
COUNTY OF DUBUQUE )
On this I ° f' day of N e c f w �- , 2025 before me, a Notary Public in and
for said state, personally appeared Chris Richard, to me known to be the person(s) named
in and who executed the foregoing instrument, and acknowledged that they executed the
same as their voluntary act and deed,
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Page 618 of 1019
RIDER LACY BLOCK, LLC
- /� �- �V_
C ris Ri hard, President
STATE OF IOWA )
) ss:
COUNTY OF DUBUQUE )
On this 10 r_ day of 6 q, - , 2025 before me, a Notary Public in and
for said state, personally appeared Chris Richard, to me known to be the person(s) named
in and who executed the foregoing instrument, and acknowledged that they executed the
same as their voluntary act and deed.
V�IIA4,pD. FLINT DRAKE
o Commission No. N 136711
• e My Commission Expires ' l�
rowA 9/20/2027 Notary Public in the State of Iowa
Page 619 of 1019
The City of Dubuque, Iowa does hereby consent to the foregoing Assignment of
Development Agreement and releases CARich Properties, LLC from any obligations as
Developer that accrue under the terms of the Development Agreement after the date
hereof.
Bra ava , Mayor