Grand Harbor Hotel - Assignment Of Development AgreementCity of Dubuque
City Council
Copyrighted
December 15, 2025
ITEMS SET FOR PUBLIC HEARING # 4.
ITEM TITLE: Grand Harbor Hotel - Assignment Of Development
Agreement
SUMMARY: City Manager recommending City Council adopt a resolution
to set a public hearing for January 5, 2026, for the
assignment of the Development Agreement from Westdale
Capital Investors 3, LP to Riddle's Group, Inc.
RESOLUTION Fixing The Date For A Public Hearing Of The
City Council Of The City Of Dubuque, Iowa On An
Assignment Of The Development Agreement Between The
City Of Dubuque, Iowa And Westdale Capital Investors 3, LP
As Successor In Interest To Platinum Holdings, LLC To
Riddle's Group, Inc., Fixing The Date For A Public Hearing Of
The City Council Of The City Of Dubuque, Iowa On The
Proposed Assignment Of The Development Agreement, And
Providing For The Publication Of Notice Thereof
SUGGUESTED Receive and File; Adopt Resolution(s), Set Public Hearing for
DISPOSITION: January 5, 2026
ATTACHMENTS:
1. MVM Memo
2. Staff Memo
3. DA_Assignment Agreement—Westdale Riddle
4. Notice of Public Hearing
5. Resolution
Page 685 of 1019
THE CITY OF
DUBE
Masterpiece on the Mississippi
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: Grand Harbor Hotel
Assignment Of Development Agreement And Lease Agreement
DATE: December 11, 2025
Dubuque
AI WIN av
2007-2012.2013
2017*2019
Platinum Holdings, LLC (Platinum) and the City of Dubuque, Iowa (City) entered into a
Development Agreement dated June 19, 2000, as amended, for the development of five
acres into a hotel and water park resort. The parties also entered into a lease
agreement on June 4, 2001, as amended. A foreclosure action was filed by Westdale
Capital Investors 3, LP (Westdale) against Platinum resulting in a foreclosure judgment
and sale.
Pursuant to the foreclosure, Westdale is the successor in interest to Platinum. Riddle's
Group, Inc. (Riddle) purchased the property at the foreclosure sale. An assignment from
Westdale to Riddle for both the Development Agreement and lease is appropriate.
City Attorney Crenna Brumwell is recommending City Council adopt a resolution to set a
public hearing for January 5, 2026, for the assignment of the Development Agreement
and Lease Agreement from Westdale Capital Investors 3, LP to Riddle's Group, Inc.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
v
Mic ael C. Van Milligen
MCVM:sv
Attachment
cc: Crenna Brumwell, City Attorney
Cori Burbach, Assistant City Manager
Page 686 of 1019
THE CITY OF
DUB E
Masterpiece on the Mississippi
CRENNA M. BRUMWELL, ESQ.
CITY ATTORNEY
TO: MICHAEL C. VAN MILLIGEN, CITY MANAGER
DATE: DECEMBER 11, 2025
Dubuque
All•A�eNea 6Iq
1ml'o I
I I
2007-2012.2013
2017*2019
RE: GRAND HARBOR HOTEL
ASSIGNMENT OF DEVELOPMENT AGREEMENT AND LEASE AGREEMENT
Platinum Holdings, LLC (Platinum) and the City of Dubuque, Iowa (City) entered into a
Development Agreement dated June 19, 2000 as amended, for the development of five
acres into a hotel and water park resort. The parties also entered into a lease agreement
on June 4, 2001, as amended. A foreclosure action was filed by Westdale Capital
Investors 3, LP (Westdale) against Platinum resulting in a foreclosure judgment and sale.
Pursuant to the foreclosure, Westdale is the successor in interest to Platinum. Riddle's
Group, Inc. (Riddle) purchased the property at the foreclosure sale. An assignment from
Westdale to Riddle for both the Development Agreement and lease is appropriate.
I respectfully request approval of the assignments from Westdale to Riddle be set for
public hearing on January 5, 2026.
OFFICE OF THE CITY ATTORNEY DUBUQUE, IOWA
SUITE 330, HARBOR VIEW PLACE, 300 MAIN STREET DUBUQUE, IA 52001-6944
TELEPHONE (563) 589-4381 / FAx (563) 583-1040 / EMAIL cbrumwel@cityofdubuque.org
Page 687 of 1019
ASSIGNMENT OF DEVELOPMENT AGREEMENT
BETWEEN
THE CITY OF DUBUQUE, WESTDALE CAPITAL INVESTORS 3, LP AS
SUCCESSOR IN INTEREST TO PLATINUM HOLDINGS, LLD., TO RIDDLE'S
GROUP, INC.
This Assignment Agreement, dated for reference purposes the day of
is made and entered into by and between the City of
Dubuque, Iowa, a municipal corporation ("City"), Westdale Capital Investors 3, LP, a
limited partnership doing business in Iowa ("Westdale") as successor in interest to
Platinum Holdings, LLC (Platinum), and Riddle's Group, Inc., a South Dakota corporation
("Riddle").
WHEREAS, Platinum and City entered into a Development Agreement dated June
19, 2000 (the Development Agreement), as amended, for the development of five acres
into a hotel and water park resort;
WHEREAS, Westdale is the successor in interest to Platinum pursuant to a
foreclosure judgment and sale; and
WHEREAS, Westdale desires to assign the Development Agreement to Riddle;
and
WHEREAS, the City Council finds that consenting to the Assignment on the terms
and conditions set forth herein is in the best interests of the City of Dubuque.
NOW, THEREFORE, IT IS AGREED BY AND BETWEEN THE PARTIES AS
FOLLOWS:
Section 1. Westdale here assigns to Riddle all of its rights, title and interest in
the Development Agreement with the City.
Section 2. Riddle accepts the assignment of all of Westdale's rights, title and
interest in the Development Agreement with the City and agrees to assume all obligations
and responsibilities in the Development Agreement.
WESTDALE CAPITAL INVESTORS 3 LP RIDDLE'S GROUP, INC.
AS SUCCESSOR IN INTEREST TO
PLATINUM HOLDINGS, LLC.
LIM
Cd!]069:ILlkit07_F'%9Lei 01►Vil4011r_Tr]N44LTA l40111
The City of Dubuque, Iowa hereby consents to the foregoing Assignment
Page 688 of 1019
Agreement.
Brad M. Cavanagh, Mayor
Attest:
Adrienne Breitfelder, City Clerk
Page 689 of 1019
CITY OF DUBUQUE, IOWA
OFFICIAL NOTICE
PUBLIC NOTICE is hereby given that the Dubuque City Council will conduct a public
hearing on the 5T" day of January, 2026, at 6:30 p.m., in the Historic Federal Building,
350 W. 6th Street, 2nd floor, Dubuque, Iowa, at which meeting the City Council proposes
to assign its Development Agreement with Westdale Capital Investors 3, LP as successor
in interest to Platinum Holdings, LLC to Riddle's Group, Inc.
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. 13th 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 15th day of December 2025.
Adrienne N. Breitfelder, CIVIC, City Clerk
Page 690 of 1019
Prepared by Crenna Brumwell City Attorney, 300 Main Street Suite 330 Dubuque IA 52001 (563) 589-4381
Return to Adrienne N. Breitfelder, City Clerk, 50 W. 13`1 St., Dubuque, IA 52001, (563) 589-4100
RESOLUTION NO. 398-25
FIXING THE DATE FOR A PUBLIC HEARING OF THE CITY COUNCIL OF THE CITY OF
DUBUQUE, IOWA ON AN ASSIGNMENT OF THE DEVELOPMENT AGREEMENT BETWEEN
THE CITY OF DUBUQUE, IOWA AND WESTDALE CAPITAL INVESTORS 3, LP AS
SUCCESSOR IN INTEREST TO PLATINUM HOLDINGS, LLC TO RIDDLE'S GROUP, INC.,
FIXING THE DATE FOR A PUBLIC HEARING OF THE CITY COUNCIL OF THE CITY OF
DUBUQUE, IOWA ON THE PROPOSED ASSIGMENT OF THE DEVELOPMENT
AGREEMENT, AND PROVIDING FOR THE PUBLICATION OF NOTICE THEREOF
WHEREAS, Platinum Holdings, LLC (Platinum) and the City of Dubuque, Iowa (City) entered
into a Development Agreement dated June 19, 2000 (Development Agreement), as amended; and
WHEREAS, Westdale Capital Investors 3, LP (Westdale) is the successor in interest to
Platinum pursuant to a foreclosure judgment and sale; and
WHEREAS, Westdale desires to assign the Development Agreement to Riddle's Group, Inc.
(Riddle); and
WHEREAS, the City Council has tentatively determined that it would be in the best interests
of City to approve the Assignment from Westdale as successor in interest to Platinum to Riddle; and
WHEREAS, before said Assignment may be approved, Iowa Code §364.7 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 THAT:
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 approve the
Assignment of the Development Agreement by and between City of Dubuque and Westdale
Capital Investors 3, LP as successor in interest to Platinum Holdings, LLC to Riddle's Group, Inc.; to
be held on the 5th day of January 2026, at 6:30 p.m. for the purpose of receiving public input and
comment regarding the proposed Assignment of the Development Agreement between the City
of Dubuque and Westdale Capital Investors 3, LP as successor in interest to Platinum Holdings,
LLC to Riddle's Group, Inc..
Section 2. The City Council will meet at said time and place for the purpose of taking action on
the matter of approving the Assignment of the Development Agreement
Section 3, The City 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 meeting shall be in substantially the form attached hereto.
Passed, approved and adopted this 151h day of December, 2025.
ad,C V agh, Mayor
Attest:
Q '
Adrienne N. Breitfelder, City Clerk