Grand Harbor Hotel - Assignment of Development AgreementCity of Dubuque
City Council
PUBLIC HEARINGS
#1.
Copyrighted
January 20, 2026
ITEM TITLE: Grand Harbor Hotel - Assignment of Development Agreement
SUMMARY: Proof of publication on notice of public hearing to consider
City Council approval of the assignment of the Development
Agreement for the Grand Harbor Hotel from Westdale Capital
Investors 3, LP to RG Hospitality, LLC, and City Manager
recommending approval.
RESOLUTION Approving The 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 RG Hospitality, LLC
SUGGUESTED Receive and File; Adopt Resolution(s)
DISPOSITION:
ATTACHMENTS:
1. MVM Memo
2. MVM_Assignment from Westdale to RG Hospitality_1-15-26
3. DA_Assignment Resolution_12-23-25
4. Assignment of Development Agreement-Westdale Signature
5. Assignment of Development Agreement-RG Hospitality Signature
Page 1126 of 1459
THE CITY OF
Dubuque
DUB TEE
All -America City
Masterpiece on the Mississippi
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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: January 15, 2026
City Attorney Crenna Brumwell is recommending City Council approval of the
assignment of the Development Agreement and Lease Agreement for the Grand Harbor
Hotel from Westdale Capital Investors 3, LP to RG Hospitality, LLC.
Platinum Holdings, LLC and the City of Dubuque, Iowa 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
against Platinum resulting in a foreclosure judgment and sale. Pursuant to the
foreclosure, Westdale is the successor in interest to Platinum. RG Hospitality, LLC
purchased the property at the foreclosure sale.
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 1127 of 1459
THE CITY OF
DUB E
Masterpiece on the Mississippi
CRENNA M. BRUMWELL, ESQ.
CITY ATTORNEY
TO: MICHAEL C. VAN MILLIGEN, CITY MANAGER
DATE: JANUARY 15, 2026
Dubuque
MI-Anariea City
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. RG
Hospitality, LLC purchased the property at the foreclosure sale. An assignment from
Westdale to RG Hospitality, LLC for both the Development Agreement and lease is
appropriate.
I respectfully request approval of the assignments from Westdale to RG Hospitality, LLC.
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 1128 of 1459
Prepared by Crenna Brumwell. Esg., 300 Main St., Ste. 330 Dubuque IA 52001-6944 (563) 583-4113
Return to Adrienne N. Breitfelder, City Clerk, 50 W. 13th St., Dubuque, IA 52001, (563) 589-4100
RESOLUTION NO. 21-26
APPROVING THE 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 RG HOSPITALITY,
LLC.
WHEREAS, Platinum Holdings, LLC (Platinum) and the City of Dubuque, Iowa
(City) entered into a Development Agreement dated June 19, 2000, as amended; and
WHEREAS, Westdale Capital Investors 3, LP (Westdale) is a successor in interest
to Platinum pursuant to a foreclosure judgment and sale; and
WHEREAS, Westdale desires to assign the Development Agreement to RG
Hospitality, LLC; and
WHEREAS, Section 5.4 of the Development Agreement requires consent of the
City to assignment of lease, which consent shall not be unreasonably withheld; and
WHEREAS, the City Council of the City of Dubuque finds that the City of Dubuque
should consent to the assignment.
NOW, THEREFORE, IT IS AGREED BY AND BETWEEN THE PARTIES AS
FOLLOWS:
Section 1. Westdale here assigns to RG Hospitality, LLC all of its rights, title
and interest in the Development Agreement with the City.
Section 2. RG Hospitality, LLC 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.
Section 3. The City of Dubuque hereby approves of the Assignment of the
Development Agreement, a copy of which is attached hereto, from Westdale to RG
Hospitality, LLC.
Section 4. The Mayor is authorized and directed to sign the Assignment of the
Development Agreement on behalf of the City of Dubuque.
Passed, approved and adopted this 20th day of January, 2026.
.• .• �, . •
Attest:
Adrienne N. Breitfelder, C6 Clerk
ASSIGNMENT OF DEVELOPMENT AGREEMENT
BETWEEN
THE CITY OF DUBUQUE, WESTDALE CAPITAL INVESTORS 3, LP AS
SUCCESSOR IN INTEREST TO PLATINUM HOLDINGS, LLC., TO RG
HOSPITALITY, LLC
This Assignment Agreement, dated for reference purposes the c�nti1 day of
J nub (^ is made and entered into by and between the City of
Dubuque, to a, 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 RG Hospitality, LLC, a South Dakota limited
liability company .
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 RG
Hospitality, LLC; 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 RG Hospitality, LLC all of its rights, title
and interest in the Development Agreement with the City.
Section 2. RG Hospitality, LLC 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
AS SUCCESSOR IN INTEREST TO
PLATINUM HOLDINGS, LLC.
M
RG HOSPITALITY, LLC
CONSENT TO ASSIGNMENT AGREEMENT
The City of Dubuque, Iowa hereby consents to the foregoing Assignment
Agreement.
Attest:
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Adrienne Breitfelder, City Clerk
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BETWEEN
THE CITY OF DUBUQUE, WESTDALE CAPITAL INVESTORS 3, LP AS
SUCCESSOR IN INTEREST TO PLATINUM HOLDINGS, LLC., TO RG
HOSPITALITY, LLC
This Assignment A reement, dated for reference purposes the Z t'�,144 day of
brJ •� ,�� 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 RG Hospitality, LLC, a South Dakota limited
liability company.
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 RG
Hospitality, LLC; 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 RG Hospitality, LLC all of its rights, title
and interest in the Development Agreement with the City.
Section 2. RG Hospitality, LLC 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 RG HOSPITALITY, LLC
AS SUCCESSOR IN INTEREST TO
PLATINUM HOLDINGS, LLC.
wo:
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CONSENT TO ASSIGNMENT AGREEMENT
Page 1131 of 1459