440 West 3rd Street, LLC Workforce Housing Tax Credit Application Support Copyrighted
June 1, 2026
City of Dubuque ACTION ITEMS # 6.
City Council
ITEM TITLE: 440 West 3rd Street, LLC Workforce Housing Tax Credit
Application Support
SUMMARY: City Manager recommending City Council approval of support
for a Workforce Housing Tax Credit Application to the lowa
Economic Development Department being submitted by 440
W 3rd St, LLC.
RESOLUTION Supporting the Submission of an lowa
Economic Development Authority Application to the
Workforce Housing Tax Credit Program by 440 W 3rd St,
LLC
SUGGUESTED Receive and File; Adopt Resolution(s)
DISPOSITION:
ATTACHMENTS:
1. MVM Memo Resolution of Support for Workforce Housing Tax Credit Application for
Downtown Housing Development for 440 W 3rd St, LLC
2. Staff Memo
3. Resolution of Approval
Page 969 of 1000
Dubuque
THE CITY OF �
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TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: Resolution of Support for Workforce Housing Tax Credit Application for
Downtown Housing Development for 440 W 3rd St, LLC
DATE: May 27, 2026
Economic Development Director Jill Connors is recommending City Council approval a
resolution of support for a Workforce Housing Tax Credit Application to the lowa
Economic Development Department being submitted by 440 W 3�d St, LLC.
440 W 3rd St, LLC (440 W 3rd Street�
Developer is proposing to create six (6) new residential units in a vacant and
underutilized building. The site of the first Mercy Hospital in Dubuque, 440 W 3rd Street
has deteriorated and is in need of significant repair. This project will include
considerable interior restoration and reconfiguration at an estimated cost of One Million
Seven Hundred Thousand Dollars ($1,700,000.00). The project intends to use historic
tax credits preserving a historic structure and piece of Dubuque's history.
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
Jill Connors, Economic Development Director
Page 970 of 1000
Dubuque Economic Development
Department
THE CITY OF ' ' 1300 Main Street
All•Ame�ica City Dubuque,lowa 52001-4763
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TTY(563)690-6678
� http://www.cityofdubuque.org
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Masterpiece on the Mississippi 2oi�*zoi9
TO: Michael C. Van Milligen, City Manager
FROM: Jill M. Connors, Economic Development Director
SUBJECT: Resolution of Support for Workforce Housing Tax Credit Application for
Downtown Housing Development for 440 W 3rd St, LLC
DATE: May 26, 2026
INTRODUCTION
This memorandum presents for City Council approval a resolution of support for a
Workforce Housing Tax Credit Application to the lowa Economic Development Department
being submitted by 440 W 3rd St, LLC.
BACKGROUND
The lowa Workforce Housing Tax Credit program provides tax benefits to developers to
provide housing in lowa 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.
DISCUSSION
When developers submit an application to the lowa Economic Development Authority for
Workforce Housing Tax Credits, they are required to attach a Resolution of Support from
the municipality. This allows the municipality to provide insight into the impact each project
will have on the City's housing goals. The following project has approached City staff
requesting support to apply.
440 W 3rd St, LLC (440 W 3rd Street�
Developer is proposing to create six (6) new residential units in a vacant and underutilized
building. The site of the first Mercy Hospital in Dubuque, 440 W 3rd Street has deteriorated
and is in need of significant repair. This project will include considerable interior restoration
and reconfiguration at an estimated cost of One Million Seven Hundred Thousand Dollars
Page 971 of 1000
($1,700,000.00). The project intends to use historic tax credits preserving a historic
structure and piece of Dubuque's history.
Given the dearth of affordable housing units in Dubuque, 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. This project meets the City Council
goals of additional housing located in Dubuque's downtown, and the rehabilitation of an
existing structure.
Municipalities are limited to supporting four projects for this program in 2026. This is the
fourth project requesting support. The other three were 5 units - Wilson House Apts, LLC
(1243 Locust Street); 30 units - 1301 Central, LLC (1301 Central Avenue); and 14 units -
Dubuque and Jackson County Habitat for Humanity (Wood Street).
The addition of the lowa Workforce Housing Tax Credit to the capital stack improves the
viability of this project, increasing the developers' ability to adequately address the shortage
of housing in the community.
RECOMMENDATION
I respectfully request City Council approval of the attached Resolution supporting the
aforementioned application for lowa Workforce Housing Tax Credits for housing
development in Dubuque.
2
Page 972 of 1000
Prepared by: lan Hatch,Assistant Economic Development, 1300 Main Street, Dubuque IA 52001, 563 589-4105
Return to:Adrienne Breitfelder, City Clerk, 50 E. 13�h Street, Dubuque IA 52001, 563 589-4100
RESOLUTION NO. -26
SUPPORTING THE SUBMISSION OF AN IOWA ECONOMIC DEVELOPMENT
AUTHORITY APPLICATION TO THE WORKFORCE HOUSING TAX CREDIT PROGRAM
BY 440 W 3rd St, LLC
WHEREAS, 440 W 3rd St, LLC (Developer) owns the following described real
property in the City of Dubuque, lowa:
Lot 2 of City Lot 607 in the City of Dubuque, lowa, according to the recorded plat
thereof.
(the Property); and
WHEREAS, Developer plans to rehabilitate the existing structure to construct six (6)
new residential units on the Property (the Project) and invest approximately One Million
Two Hundred Thousand Dollars ($1,200,000.00) in the Project; and
WHEREAS, the Project is located in the Greater powntown 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 lowa 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, pursuant to lowa 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 February 16,
2026, 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, 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
Page 973 of 1000
WHEREAS, the City Council finds that the application to the Workforce Housing Tax
Credit Program by 440 W 3rd St, 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 lowa Economic Development Authority Application to the Workforce
Housing Tax Credit Program by 440 W 3rd St, LLC for necessary tax credits and other
benefits directly contributing to the success of the Project at 440 W 3rd Street, Dubuque,
lowa 52001.
Passed, approved and adopted this 1 st day of June, 2026.
Brad M. Cavanagh, Mayor
Attest:
Trish L. Gleason, Assistant City Clerk
Page 974 of 1000