North Cascade Road Housing - Urban Renewal Plan Amendment Copyright 2014
City of Dubuque Items to be set for Public Hearing # 3.
ITEM TITLE: North Cascade Road Housing - Urban Renewal Plan Amendment
SUMMARY: City Manager recommending City Council adopt the Resolution of
Necessity to begin the process of creating the Urban Renewal Plan for the
North Cascade Road Housing Urban Renewal Area and set a public
hearing for May 4, 2015 on adoption of the Amended Plan for the North
Cascade Road Housing Urban Renewal Area.
RESOLUTION Of Necessity Finding That Certain Property Along North
Cascade Road is an Economic Development Area and that the
Development of Said Area is Necessary in the Interest of the Residents of
the City of Dubuque, Iowa, and Setting a Date for Hearing on a Proposed
Amendment to Urban Renewal Plan for Said District
SUGGESTED DISPOSITION: Suggested Disposition: Receive and File; Adopt Resolution(s)
ATTACHMENTS:
Description Type
❑ North Cascade Road Housing Urban Renewal Plan-MVM Memo City Manager Memo
❑ Staff Memo Staff Memo
❑ UR Plan Amendment-North Cascade Road Supporting Documentation
❑ Attachment A-UR Plan map Supporting Documentation
❑ Attachment B-1 -Existing Land Use Supporting Documentation
❑ Attachment B-2-Proposed Land Use Supporting Documentation
❑ Attachment C-bonded indebtedness Supporting Documentation
❑ Attachment D-District Boundary Descriptions Supporting Documentation
❑ Attachment E-Current Zoning Supporting Documentation
❑ Timber Hyrst TIF Summary Supporting Documentation
❑ Resolution of Necessity-North Cascade Road Resolutions
THE CITY OF Dubuque
UBE I
erica .i
Masterpiece on the Mississippi 2007-2012-2013
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: Resolution of Necessity for the North Cascade Road Housing Urban
Renewal Plan
DATE: April 1, 2015
Economic Development Director Maurice Jones is recommending City Council adopt
the Resolution of Necessity to begin the process of creating the Urban Renewal Plan for
the North Cascade Road Housing Urban Renewal Area and set a public hearing for
May 4, 2015, on adoption of the Amended Plan for the North Cascade Road Housing
Urban Renewal Area.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
Micliael C. Van Milligen
MCVM:sv
Attachment
cc: Flint Drake, Esq.
Barry Lindahl, City Attorney
Crenna Brumwell, Assistant City Attorney
Cindy Steinhauser, Assistant City Manager
Teri Goodmann, Assistant City Manager
Maurice Jones, Economic Development Director
Gus Psihoyos, City Engineer
Alvin Nash, Housing & Community Development Director
Bob Green, Water Department Manager
Dubuque Economic Development Department
THE CITY OF 50 West 13th Street
All-AmericaCitY Dubuque,Iowa 52001-4864
DUB3 E1 ' Office(563)589-4393
TTY(563)690-6678
http://www.cityofdubuque.org
Masterpiece on the Mississippi 200.2012.2013
TO: Michael Van Milligen, City Manager
FROM: Maurice Jones, Economic Development Director
SUBJECT: Resolution of Necessity for the North Cascade Road Housing Urban
Renewal Plan
DATE: March 30, 2015
INTRODUCTION
This memorandum presents for City Council consideration a Resolution of Necessity
that: 1) finds that an amendment to the Housing Urban Renewal Plan for the North
Cascade Road Area is both necessary and appropriate; and 2) sets a public hearing on
the proposed amendment for May 4, 2015.
BACKGROUND
The District is an urban renewal area which allows the City of Dubuque to capture tax
increment revenue from improvements made in the District in order to promote
economic development activities. The District was created for the development of a
residential district and improvements along North Cascade Road. In addition to the
development of infrastructure, tax increment financing will be used to benefit Low and
Moderate Income (LMI) individuals in our community. City Council approved the
original Urban Renewal Plan by Resolution 374-14 on December 1, 2014.
The need to amend the North Cascade Road Housing Urban Renewal Area has risen
from the desire to clarify the amount of tax increment financing to benefit Low and
Moderate Income (LMI) individuals in our community. Pursuant to House File 2460, the
plan will describe the specific use of tax increment funds, reflecting the utilization of tax
rebates, the creation of public infrastructure, or other planned expenditures.
DISCUSSION
The primary goal of the Plan is to stimulate, through public involvement and
commitment, private investment in new housing and residential development as defined
by the Iowa Code Section 403.17(12). This proposed amendment of the North Cascade
Road Housing Urban Renewal Area would result in improved roads and utilities in the
designated area, as well as funding to assist with LMI family housing anywhere within
the City. The amendment will allow for potentially more than the minimum amount of
38.1% of the incremental revenues to be used to provide LMI family housing assistance,
as opposed the current language stating that the amount is equal to 38.1 %.
With the 10 year life of the TIF District it is projected to generate $11 .3 million in
increment with $4.3 million going to affordable housing throughout the community and
$7 million going to North Cascade Road improvements and other improvements in the
District. See attached financial summary.
City Council will be presented for review and approval an agreement with North
Cascade Road Developers that has been negotiated in order to secure the developer's
participation and consent. This is a separate, yet related, agenda item.
The attached Resolution directs staff to prepare an amended Urban Renewal Plan for
the North Cascade Road Housing Urban Renewal Area, setting forth the urban renewal
projects that are currently expected to be undertaken in the District, and for LMI
households in the community. Additionally, staff is required to hold a consultation
process, required by law, with the affected taxing entities concerning the proposed
amendment, and to the extent the amendment includes the use of tax increment
revenues for a public building, provide an analysis of alternative development and
funding options for such public buildings.
A City Council public hearing on the Amended and Restated Urban Renewal Plan will
be scheduled for May 4, 2015. The public notice will be published four to twenty days
before the meeting to allow for the appropriate publication requirements. This will allow
time for preparation of the Plan and the consultation process with the taxing entities.
RECOMMENDATION/ ACTION STEP
I recommend the City Council adopt the attached Resolution of Necessity that begins
the process of creating the Urban Renewal Plan for the North Cascade Road Housing
Urban Renewal Area.
The amendment will provide the continued use of tools that will encourage reinvestment
and redevelopment activities throughout the District and will support revitalization within
the area and the community.
Attachment
RESOLUTION NO. 110-15
RESOLUTION OF NECESSITY FINDING THAT CERTAIN PROPERTY ALONG NORTH
CASCADE ROAD IS AN ECONOMIC DEVELOPMENT AREA AND THAT THE
DEVELOPMENT OF SAID AREA IS NECESSARY IN THE INTEREST OF THE
RESIDENTS OF THE CITY OF DUBUQUE, IOWA, AND SETTING A DATE FOR
HEARING ON A PROPOSED AMENDMENT TO URBAN RENEWAL PLAN FOR SAID
DISTRICT
Whereas, the City Council has heretofore approved the Urban Renewal Plan for the
North Cascade Road Housing Urban Renewal Area in order to enhance the City's ongoing
economic development efforts; and
Whereas, the City Council has determined that the North Cascade Road Housing
Urban Renewal Area meets the definition of an economic development area as defined in
Iowa Code Chapter 403; and
Whereas, a significant need for housing units exists in the community and local
resources are needed to advance the development; and
Whereas, City desires to allow for a potential increase in the amount of tax
increment financing to benefit Low and Moderate Income (LMI) individuals in the
community; and
Whereas, Iowa Code Chapter 403 requires that before urban renewal authority may
be exercised, a City Council must adopt a resolution of necessity finding that the area in
question is a slum, blighted or economic development area, and that so designating such
area is necessary in the interest of the public health, safety or welfare of the residents of
the municipality.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF DUBUQUE, IOWA:
Section 1. That the City Manager has prepared an Amended Urban Renewal Plan
for the North Cascade Road Housing Urban Renewal Area, attached hereto, and is
directed to begin the consultation process required by law with affected taxing entities.
Section 2. That the City Clerk is directed to publish notice of a public hearing on the
adoption of the Amended Plan for the North Cascade Road Housing Urban Renewal Area
to be held on the 4th day of May, 2015, at 6:30 p.m. in the Historic Federal Building in
Dubuque, Iowa, 350 W. 6th Street, Dubuque, Iowa and that said notice shall generally
identify the area covered by the Amended Plan and the general scope of the activities
planned for such area.
Section 3. That the City Clerk is further directed to send by ordinary mail a copy of
said Amended Plan and Notice of Public Hearing to the Dubuque Community School
District, the County Board of Supervisors and the Northeast Iowa Community College, as
the affected taxing entities.
Passed, approved and adopted this 6th day of April, 2015.
Attest:
Trish L. Gleason, Assistant City Clerk
Roy D. Buol, Mayor.
CITY OF DUBUQUE, IOWA
OFFICIAL NOTICE
NOTICE is hereby given that the Dubuque City Council will conduct a public hearing on
May 4, 2015, at 6:30 p.m., in the second-floor chambers of the Historic Federal Building,
th
350 W. 6 Street, to consider a proposed Amended Urban Renewal Plan ("Amended
Plan") for the North Cascade Road Housing Urban Renewal Area.
The North Cascade Road Housing Urban Renewal Area is being developed to help
local officials promote economic development in the City of Dubuque ("City"). The
primary goal of the Amended Plan is to stimulate, through public involvement and
commitment, private investment in new housing and residential development as defined
by the Iowa Code Section 403.17(12).
The North Cascade Road Housing Urban Renewal Areas generally includes the
Timber-Hyrst Estates Subdivision and all adjourning public right-of-way, all in the City of
Dubuque, Dubuque County, Iowa.
The Amended Plan adds clarifying text to make clear that not less than 38.1% of the
available tax increment revenues are expected to be used for purposes of providing
assistance to low and moderate income housing. A copy of the Amended Plan is on file
in the City Clerk’s Office and may be viewed during normal working hours.
At said time and place of public hearing all interested citizens and parties will be given
an opportunity to be heard for or against said proposal.
Written comments regarding the above proposal may be submitted to the City Clerk’s
th
Office on or before said time of public hearing at 50 w. 13 Street, Dubuque, IA 52001
or ctyclerk@cityofdubuque.org
Any visual or hearing impaired persons needing special assistance or persons with
special accessibility needs should contact the City Clerk’s Office at (563) 589-4100 or
TDD (563) 556-9948 at least 48 hours prior to the meeting.
Published by order of the City Council given on the 6th day of April, 2015.
Kevin S. Firnstahl, CMC City Clerk
1t 4/24
AMENDED
URBAN RENEWAL PLAN
North Cascade Road Housing Urban Renewal Area
City of Dubuque, Iowa
May, 2015
TABLE OF CONTENTS
A. INTRODUCTION
B. DESCRIPTION OF THE URBAN RENEWAL AREA
C. DISTRICT DESIGNATION
D. BASE VALUE
E. DEVELOPMENT PLAN
F. RESIDENTIAL DEVELOPMENT
G. AREA OBJECTIVES
H. TYPE OF RENEWAL ACTIVITIES
I. PROPOSED PROJECT
J. FINANCIAL DATA
K. PROPERTY ACQUISITION/DISPOSITION
L. RELOCATION
M. STATE AND LOCAL REQUIREMENTS
N. SEVERABILITY
O. URBAN RENEWAL PLAN AMENDENTS
P. EFFECTIVE PERIOD
ATTACHMENTS
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A. INTRODUCTION
This Urban Renewal Plan for the North Cascade Road Housing Urban Renewal
Area ("Plan" or "Urban Renewal Plan") has been developed to help local officials
promote economic development in the City of Dubuque ("City"). The primary
goal of the Plan is to stimulate, through public involvement and commitment,
private investment in new housing and residential development as defined by the
Iowa Code Section 403.17(12).
In order to achieve this objective, the City intends to undertake urban renewal
activities pursuant to the powers granted to it under Chapter 403 and Chapter
15A of the Code of Iowa, as amended.
B. DESCRIPTION OF THE URBAN RENEWAL AREA
The North Cascade Road Housing Urban Renewal Area ("Area" or "Urban
Renewal Area") is illustrated in Attachments A, B-1 , and B-2 and described in
Attachment D.
The City reserves the right to modify the boundaries of the Area at some future
date.
C. DISTRICT DESIGNATION
With the adoption of this Plan, the City of Dubuque designates this Urban
Renewal Area as an economic development area that is appropriate for the
provision of public improvements related to housing and residential development.
D. BASE VALUE
If the North Cascade Road Housing Urban Renewal Area is legally established
and debt is certified prior to December 1 , 2014, the taxable valuation within the
Urban Renewal Area as of January 1 , 2013, will be considered the "base
valuation." If debt is not certified until a later date, the "base value" will be the
assessed value of the taxable property in the Urban Renewal Area as of January
1 of the calendar year preceding the calendar year in which the City first certifies
the amount of any debt.
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E. DEVELOPMENT PLAN
The City Council has approved a general plan for the physical development of
the City as a whole, outlined in the 2012 City of Dubuque Comprehensive Plan
that was adopted by the City Council on February 6, 2012. The goals,
objectives, and projects in this Urban Renewal Plan are consistent with the City's
Comprehensive Plan.
The North Cascade Road Housing Urban Renewal Area is zoned: County Al ,
County R-1 , County R-2 and County C-1 ; City R-1 , City R-2, City R-3, City C-2
and City C-2c. See Attachment E for details.
This Urban Renewal Plan does not in any way replace the City's current land use
planning or zoning regulation process.
For details on current and proposed land use, see attached land use maps,
Attachments B-1 and B-2.
F. RESIDENTIAL DEVELOPMENT
The City's objective in the North Cascade Road Housing Urban Renewal Area is
to promote new housing and residential development.
When a City utilizes tax increment financing to support residential development,
a percentage of the incremental revenues (or other revenues) generated by the
project (not to exceed the project costs which are limited to reimbursement of
"public improvement" costs as defined by Iowa law) must be used to provide
assistance for low and moderate income ("LMI") family housing. LMI families are
those whose incomes do not exceed 80% of the median Dubuque County
income. LMI families include single person households.
Unless a reduction is approved by the Iowa Economic Development Authority,
the percent of incremental revenues used to provide LMI family housing
assistance must be at least equal to the percentage of LMI families living in
Dubuque County, as determined by the U.S. Department of Housing and Urban
Development using Section 8 guidelines. The percentage of LMI familing living
in Dubuque County has been determined to be 38.1%. Not less than 38.1% of
incremental revenues will be used by the City to provide LMI family housing
assistance.
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The assistance for LMI family housing may be provided anywhere within the City
and may include, but is not limited to:
1 . Lots for LMI housing within or outside the urban renewal area;
2. Construction of LMI housing within or outside the urban renewal area;
3. Grants, credits or other direct assistance to LMI families living within or
outside the urban renewal area, but within the area of operation of the
municipality;
4. Payments to a LMI housing fund established by the City to be expended
for one or more of the above purposes, including matching funds for any
state or federal moneys used for such purposes.
G. AREA OBJECTIVES
Renewal activities are designed to provide opportunities, incentives, and sites for
new residential development within the district and to provide housing assistance
to LMI families.
More specific objectives for development within the North Cascade Road
Housing Urban Renewal Area are as follows:
1 . To alleviate and prevent conditions of unemployment and a shortage of
housing; and that it is accordingly necessary to assist and retain local
industries and commercial enterprises to strengthen and revitalize the
economy of the State of Iowa and the City of Dubuque.
2. To stimulate through public action and commitment, private investment in
new residential development.
3. To plan for and provide sufficient land for residential development in a
manner that is efficient from the standpoint of providing municipal
services.
4. To help finance the cost of water mains, sanitary sewer, storm sewer,
and street construction (including curb and gutter), as well as other public
improvements in support of new housing development.
5. To provide a more marketable and attractive investment climate.
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6. To improve the housing conditions and housing opportunities for LMI
families.
H. TYPE OF RENEWAL ACTIVITIES
To meet the objectives of this Urban Renewal Plan and to encourage the
development of the Urban Renewal Area, the City intends to utilize the powers
conferred under Chapter 403 and Chapter 15A, Code of Iowa including, but not
limited to, tax increment financing. Activities may include:
1 . To undertake and carry out urban renewal projects through the
execution of contracts and other instruments.
2. To arrange for or cause to be provided the construction of public
infrastructure including but not limited to streets, water mains,
sanitary sewer, storm sewers, or other public improvements in
connection with urban renewal projects.
3. To finance programs which will directly benefit housing conditions
and promote the availability of housing affordable to LMI persons in
the community.
4. To make loans, grants or rebates to private persons to promote
housing projects on such terms as may be determined by the City
Council.
5. To borrow money and to provide security therefor.
6. To make or have made surveys and plans necessary for the
implementation of the urban renewal program or specific urban
renewal projects.
7. To use tax increment financing for a number of objectives, including
but not limited to, achieving a more marketable and competitive land
offering price and providing for necessary physical improvements
and infrastructure.
8. To use any or all other powers granted by the Urban Renewal Act to
develop and provide for improved economic conditions for the City of
Dubuque and the State of Iowa.
Nothing herein shall be construed as a limitation on the power of the City to
exercise any lawful power granted to the City under Chapter 15, Chapter
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15A, Chapter 403, Chapter 4278, or any other provision of the Code of Iowa
in furtherance of the objectives of this Urban Renewal Plan.
I. PROPOSED PROJECT
The first proposed urban renewal project involves the construction of public
infrastructure to serve a new 216-lot subdivision under development by North
Cascade Road Developers, LLC ("Developer"). Certain of the public
improvements are expected to be constructed by the Developer, with the
balance being constructed by the City. The expected public improvements and
their estimated costs are as follows:
Public Improvements Estimated Costs
Fiber conduit & vaults $111 ,111
Stormwater over detention $50,000
Enhanced park $150,000
Water Main - Timber Hyrst to Curve #2 $143,000
Roadway Improve - Timber Hyrst to Curve #2 $639,000
Water Main - Curve #2 to Edval $110,000
Roadway Improve - Curve #2 to Edval $647,000
Water Main - Edval to Zoo $375,000
Roadway Improve - Edval to Zoo $2,200,000
Water Main - SW Arterial/Walser Lane $447,000
Bond Interest expense $2,155,778
Total $7,027,889
The City expects to provide assistance to the Developer in the form of property
tax rebates of potential incremental taxes, under the terms of a rebate
agreement between the City and the Developer. Under the proposal, some of
the incremental property tax generated from the new houses constructed within
the Urban Renewal Area pursuant to Iowa Code Section 403.19 is expected to
be rebated to the Developer (in an amount not to exceed the Developer's
certified costs of constructing certain of the required public improvements or
$161 ,000, whichever is less, or such other amount as may be determined by the
City Council) for a period of time to be determined by the City Council. These
rebates will not be general obligations of the City, but will be payable solely from
incremental property taxes generated by the project.
The City will set aside not less than the required LMI percentage (38.1 %) of the
incremental taxes generated by the project (up to a maximum of the certified
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costs of constructing the above public improvements) and use those funds to
support LMI family housing anywhere in the community. The remaining
incremental taxes will be available to the City to distribute in accordance with
Iowa Code §403.19.
J. FINANCIAL DATA
1) July 1 , 2014, Statutory debt limit: $183,621 ,403 (see Attachment C)
2) Outstanding general obligation debt: $155,252,583 (see Attachment C)
3) Proposed amount of indebtedness to be incurred: Although a specific
amount of indebtedness to be incurred in the Area has not yet been determined,
the estimated cost of constructing the public improvements for the new
subdivision is not expected to exceed $7,027,889. The LMI set-aside is expected
to be not less than $4,325,728. The total amount of tax increment to be used
under this Plan is expected to be approximately $11 ,353,618.
K. PROPERTY ACQUISITION/DISPOSITION
Other than easements and public right-of-ways, no property acquisition by the
City is anticipated at this time. However, if any property acquisition/disposition
becomes necessary to accomplish the objectives of the Plan, urban renewal
powers will be carried out, without limitation, in accordance with the State of Iowa
Urban Renewal Law.
L. RELOCATION
The City does not expect there to be any relocation required of residents or
businesses as part of the proposed urban renewal projects; however, if any
relocation is necessary, the City will follow all applicable relocation requirements.
M. STATE AND LOCAL REQUIREMENTS
All provisions necessary to conform to State and local laws will be complied with
by the City in implementing this Urban Renewal Plan and its supporting
documents.
N. SEVERABILITY
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In the event one or more provisions contained in this Urban Renewal Plan, as it
may be amended, shall be held for any reason to be invalid, illegal, unauthorized
or unenforceable in any respect, such invalidity, illegality, lack of authorization or
enforceability shall not affect any other provision of this Urban Renewal Plan,
and this Urban Renewal Plan shall be construed and implemented as if such
provisions had never been contained herein.
O. URBAN RENEWAL PLAN AMENDMENTS
This Urban Renewal Area Plan may be amended from time to time for a number
of reasons, including but not limited to, change in the area, to add or change
land use controls and regulations, to modify goals or types of renewal activities,
or to amend property acquisition and disposition provisions. The City Council
may amend this Plan pursuant to appropriate procedures under Iowa Code
Chapter 403.
P. EFFECTIVE PERIOD
This Urban Renewal Plan will become effective upon its adoption by the City
Council and will remain in effect until it is repealed by the City Council.
With respect to the property included within the North Cascade Road Housing
Urban Renewal Plan Area, which is also included in an ordinance which
designates that property as a tax increment area and is designated based on an
economic development finding, to provide or to assist in the provision of public
improvements related to housing and residential development, the use of
incremental property tax revenues or the "division of revenue," as those words
are used in Chapter 403 of the Code of Iowa, is limited to ten (10) years
beginning with the second fiscal year following the year in which the City first
certifies to the County Auditor the amount of any loans, advances, indebtedness,
or bonds which qualify for payment from the incremental property tax revenues
attributable to that property within the North Cascade Road Housing Urban
Renewal Area. With consent of all other affected taxing bodies (by written
agreement), the use of incremental property tax revenues under Iowa Code
Section 403.19 can be extended for up to 5 years if necessary to adequately
fund the housing project.
At all times, the use of tax increment financing revenues (including the amount of
loans, advances, indebtedness or bonds which qualify for payment from the
division of revenue provided in Section 403.19 of the Code of Iowa) by the City
for activities carried out under the North Cascade Road Housing Urban Renewal
-9-
Plan shall be limited as deemed appropriate by the City Council and consistent
with all applicable provisions of law.
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City of Dubuque
Summary of Bonded Indebtedness
Date Net Year of Amount Principal Principal Interest Principal
Description of Interest Final of Outstanding Due Due Outstanding
Issue Rate Payment Issue 6/30/15 FY 2016 FY 2016 6/30/16
General Obligation Bonds
(Essential Corporate Purpose)
Water Main and Water Tower-Refunded 12-01-02 3.8187% 2017 3,105,000 385,000 190,000 4,812 195,000
Stou,water Improvements 09-15-03 42750% 2023 2,110,000 1,025,000 110,000 45,765 915,000
Stou,water Improvements 0418-05 42421% 2024 1,750,000 990,000 90,000 42,582 900,000
DICWExpansion Taxable 11-0412 12193% 2016 2995,000 325,000 325,000 3,250 -
DICWExpansion-Non Taxable 0418-05 4.1240% 2021 4,270,000 3,050,000 150,000 126,135 2900,000
Refinanced Portions 5th/3rd Skis,Ramps 11-0412 12193% 2021 3360,000 3503,000 715,000 44,688 2,788,000
Refinanced Portions of T-Hangars 11-0412 12193% 2020 165,000 267,000 50,000 3,506 217,000
Stou,water Improvements 05-02-06 4.0665% 2025 2900,000 1,830,000 150,000 74,885 1,680,000
Sewer System Improvements&Ext 12-01-07 3.6596% 2017 1,055,000 265,000 130,000 9,608 135,000
Stou,water Improvements 11-04-08 45702% 2028 3,885,000 2,875,000 170,000 128902 2,705,000
Kephaft s Building 11-04-08 42334% 2024 377,055 230,090 24,605 9,516 205,485
Library Renovation 11-04-08 42334% 2024 2,457945 1,499910 160395 62,034 1 339 515
DICWExpansion-NonTaxable11-04-08 42334% 2023 455,000 275,000 30,000 11375 245,000
DICWExpansion Taxable 11-04-08 55369% 2018 2,465,000 1205,000 375,000 66,275 830,000
Airport Improvements 11-05-09 32913% 2029 230,000 180,000 10,000 8,910 170,000
Fire Truck Replacement 11-05-09 32913% 2029 1,410,000 1,115,000 65,000 55,060 1,050,000
Fiber Optic Paving 11-05-09 32913% 2029 100,000 75,000 5,000 3,685 70,000
Streetlight Replacement 11-05-09 32913% 2018 40,000 15,000 5,000 605 10,000
Stou,water Improvements 11-05-09 32913% 2029 1,155,000 915,000 50,000 45190 865,000
Central Ave Parking Ramp 11-05-09 32325% 2029 9310,000 7365,000 415,000 361532 6950,000
DICW-NorthSiegert Improvements 11-05-09 32325% 2029 1,865,000 1,480,000 85,000 72,582 1 395,000
America's River Refunding 11-05-09 2.7913% 2021 8,885,000 4,795,000 720,000 191,800 4,075,000
MainStreet-Refunding 08-02-10 24203% 2021 705,000 410,000 60,000 10,932 350,000
Airport 08-02-10 32838% 2030 176361 147318 7,729 4,860 139589
Smart Meters for City Buildings 08-02-10 32838% 2030 62,835 52,488 2,754 1,732 49,734
Park Water System Study 08-02-10 32838% 2030 83518 69,766 3,660 2302 66106
Refuse 08-02-10 32838% 2030 69946 58,427 3,065 1,928 55362
Stou,water Improvements 08-02-10 32838% 2030 1,667,481 1392,890 73,077 45,952 1319,813
Public Works Equipment Replacement 08-02-10 32838% 2030 542,488 453,154 23,774 14,950 429380
Street Improvements 08-02-10 32838% 2030 270,822 226223 11,868 7,462 214355
Sanitary Improvements 08-02-10 32838% 2030 891550 744,734 39,072 24,569 705,662
Downtown Housing RFP/40 Main 08-02-10 4.6650% 2030 2,675,000 2305,000 100,000 104,028 2205,000
Millwork District Parking 08-02-10 33265% 2030 2,825,000 2360,000 120,000 76,000 2240,000
Southwest Arterial 08-01-11 33045% 2031 1,029285 900,827 43903 30,486 856924
Refuse 08-01-11 33045% 2031 36,615 32,045 1562 1,084 30,483
Sanitary Sewer Improvements 08-01-11 33045% 2031 1374,068 1 202 581 58,609 40,697 1,143972
Stou,water Improvements 08-01-11 33045% 2031 2 287 260 2,001,805 97561 67,744 1 904 244
Iowa Street Ramp Improvements 08-01-11 33045% 2031 60,720 53142 2590 1,798 50,552
Water System Improvements 08-01-11 33045% 2031 1542,052 1 349 599 65,775 45,672 1283,824
18th Street Building Improvements 08-01-11 35863% 2026 620,041 503,053 38996 17378 464,057
DICWExpansion-South Siegert Farr, 08-01-11 35863% 2026 378965 307,463 23,834 10,622 283,629
Date Net Year of Amount Principal Principal Interest Principal
Description of Interest Final of Outstanding Due Due Outstanding
Issue Rate Payment Issue 6/30/15 FY 2016 FY 2016 6/30/16
General Obligation Bonds -
(Essential Corporate Purpose) -
PortofDubuqueParkingRamp 08-01-11 35863% 2026 590994 4]9,48] 3],169 16,564 442318
Intermodal 02-06-12 25444% 2031 4380,000 39]0,000 210,000 94,912 3,]60,000
Stou,water Improvements 02-06-12 2.]031% 2031 1935,000 1,685,000 90,000 4],544 1595,000
7thStreeU2-Way Conversion 02-06-12 2.]031% 2031 5560,000 5,040,000 265,000 125,494 4,]]5,000
Washington Neighborhood Business Incentives 06-04-12 319]2% 2032 ]55,000 ]20,000 35,000 21,505 685,000
Airport Improvements 06-04-12 3.19]2% 2032 90,000 ]0,000 10,000 1,485 60,000
Airport Improvements 06-04-12 3.19]2% 2032 2,145,000 1960,000 95,000 58,5]8 1,865,000
DICWExpansion-South Siegert Farr-Taxable 06-04-12 3.19]2% 2032 39]5,000 3,635,000 1]5,000 108,660 3,460,000
DICWExpansion-South Siegert Fa,n-Non taxablk 06-04-12 2.]903% 2032 425,000 395,000 20,000 12162 3]5,000
Airport Utility Extension-TechSouth-Const 06-04-12 2.]903% 2018 945,000 580,000 185,000 17,400 395,000
FirePumper 06-04-12 2.]903% 2027 269,800 234300 1],]50 ],029 216550
Fire Station#4 Improvements 06-04-12 2.]903% 2022 65,000 55,000 5,000 1,650 50,000
E911 Tower Relocation 06-04-12 2.]903% 2027 235,800 20],000 14,400 6,210 192,600
Park Improvements-15 Year Bonds 06-04-12 2.]903% 2027 65500 5],500 4,000 1,]25 53,500
Civic Center Improvements 06-04-12 2.]903% 2027 550200 483,000 33,600 14,490 449,400
Conference Center Improvements 06-04-12 2.]903% 2022 60200 51,600 4300 1,548 4]300
Recreation Improvements-10 year bonds 06-04-12 2.]903% 2022 9,800 8,400 700 252 ],]00
Library Improvements 06-04-12 2.]903% 2022 65500 5],500 4,000 1,]25 53,500
City Hall Bnckwork 06-04-12 2.]903% 2027 393,000 345,000 24,000 10350 321,000
FEMA Land Buyout 06-04-12 2.]903% 2027 110200 95,]00 ]250 2,8]1 88,450
Locust Ramp Secunty Cameras 06-04-12 2.]903% 2033 1]5,000 165,000 5,000 5,063 160,000
Sanitary Sewer Improvements 06-04-12 2.]903% 2033 1560,000 1,430,000 65,000 44,044 1365,000
Stou,water Improvements 06-04-12 2.]903% 2033 405,000 3]5,000 15,000 11,550 360,000
Water System Improvements 06-04-12 2.]903% 2033 1,840,000 1,690,000 80,000 52,050 1,610,000
DICWExpansion-Consultant 11-04-12 2533]% 2032 151,44] 144,]23 ],0]8 3,452 13],645
Airport Utility Extension-Tech South-Design 11-04-12 2533]% 2018 50562 36,912 12,600 756 24312
Granger Creek Trail-TechSouth 11-04-12 2533]% 2018 194,854 143504 47,400 2,844 96104
GDTIF ADA Restroom 11-04-12 2533]% 2032 222,043 212333 10221 4,985 202,111
GDTIF Sidewalks to MCAleece 11-04-12 2533]% 2032 105,1]8 100,]64 4,646 2,266 96118
GDTIF MCFC Second Floor Renovation 11-04-12 2533]% 2032 1,413351 1350,6]5 65 975 32 175 1284,]00
GDTIF Rail Platter, 11-04-12 2533]% 2032 24]563 236,08] 12,080 5,891 224,00]
GDTIF MCIC Improvements 11-04-12 1.]008% 2032 256,88] 226,88] 31 250 3,640 195,63]
GDTIF Wash Neighborhood Business Grants 11-04-12 1.]008% 2032 302220 267,420 36250 4222 231,1]0
GDTIF Business ADAAssistance 11-04-12 1.]008% 2032 25,150 22,]50 2500 291 20250
GDTIF DT Housing Incentives 11-04-12 1.]008% 2032 1]3,]]6 153 376 21250 2,475 132,126
GDTIF Financial Consultant Grant 11-04-12 1.]008% 2032 100,]05 88,]05 12500 1,456 76 205
GDTIF DT Facade Grant 11-04-12 1.]008% 2032 151,110 133,110 18,]50 2184 114360
GDTIF Hist Distinct Improvements Grant 11-04-12 1.]008% 2032 25,150 22,]50 2500 291 20250
Police Software Replacement 11-04-12 24872% 2022 356,]20 290 570 34,650 5,843 255920
Park Improvements-10 Yearbonds 11-04-12 24872% 2022 211,120 172 270 20350 3,432 151920
Park Improvements-10 Yearbonds 11-04-12 24872% 2022 1]1,808 144208 13,800 2,8]5 130,408
Recreation Improvements-10 yearbonds 11-04-12 24872% 2027 14924 12,524 1200 250 11324
Library Improvements 11-04-12 24872% 2027 173 992 153992 10,000 3394 143992
Southwest Arterial 11-04-12 24872% 2032 1282372 1,168,8]8 56,]4] 28,660 1,112,131
Sanitary Forecmain Repair 11-04-12 24872% 2032 652,652 594,836 28908 14,600 565928
7th Street Stormwater lmprevments 11-04-12 24872% 2032 133952 122,098 5 92 2,993 116,1]1
Water System Improvements 11-04-12 24872% 2032 642,460 585,624 28,418 14353 55]206
Sales Tax Revoke FMP-GO O5-19-14 32309% 2029 ],190,000 ],190,000 - ],190,000
GDTIFTax-ExemptProjects 11-17-14 33000% 2034 190,000 190,000 5,904 190,000
Sales Tax 20%10 Year 11-17-14 33000% 2025 ]15,000 ]15,000 65,000 14,820 650,000
Sales Tax 20%15 Year 11-17-14 33000% 2026 55,000 55,000 5,000 1 17 50,000
Sales Tax 20%20 Year 11-17-14 33000% 2034 320,000 320,000 15,000 8,9]6 305,000
Sales Tax 30%]Year 11-17-14 33000% 2022 305,000 305,000 40,000 5200 265,000
Sales Tax 30%20 Year-Engineering 11-17-14 33000% 2034 1250,000 1250,000 55,000 35,427 1,195,000
Gaming 15 Year 11-17-14 33000% 2030 260,000 260,000 15,000 6,639 245,000
PFC20Year 11-17-14 33000% 2034 690,000 690,000 30,000 19,560 660,000
Water 20 Year 11-17-14 33000% 2034 9,180,000 9,180,000 395,000 260245 8,]85,000
Sewer 20 Year 11-17-14 33000% 2034 5,6]0,000 5,6]0,000 245,000 160,]25 5,425,000
Parking 20 Year 11-17-14 33000% 2034 180,000 180,000 5,000 5,05] 1]5,000
GDTIF Taxable 11-17-14 39900% 2034 5,6]0,000 5,6]0,000 - 216356 5,6]0,000
DICWTaxable 11-17-14 39900% 2034 1,640,000 1,640,000 90,000 54,0]2 1550,000
Parking Taxable 11-17-14 39900% 2034 305,000 305,000 10,000 10328 295,000
Dubuque Initiatives Loan Guaranty(Ends 2025) Future 35000% 2017 10,000,000 10,000,000 10,000,000
Sales Tax Revoke FMP-Non-Apprepnation Future TBD 2029 19,500,000 806 579 - 806,5]9
FYI Planned Projects Future 35000% 2035 500,000 481,]4] 1]342 19,098 464,405
FYI Housing TIF Future 35000% 2024 2500,000 2500,000 - 100,000 2500,000
Franchise Fee Settlement Judgment Bond Future 35000% 2034 2,600,000 - 96 573 88,516 2503,42]
Water Planned Projects Future 35000% 2034 6934,438 - - 70,455 1,451,168
Stou,water Planned Projects Future 35000% 2034 15,000,000 - - - -
Sewer Planned Projects Future 35000% 2034 93]8,812 - 56,091 99,]31 2 933 909
Sales Tax 20%-10 Year Planned Projects Future 35000% 2024 2,881,622 - 9,]10 6,9]0 206935
Sales Tax 20%-20 Year Planned Projects Future 35000% 2035 1259,801 - 30,490 25,5]5 773 311
Sales Tax 30%-20 Year Planned Projects Future 35000% 2035 1201,800 - 11,]61 20,911 638239
TIF Planned Projects Future 35000% 2040 52]5,060 - -
FY21Planned Projects&Beyond Future 35000% 2041 5,000,000
Total General Obligation Bonds 220 961 530 125,818324 ],881,965 3,926,819 126,64],9]3
Date Net Year of Amount Principal Principal Interest Principal
Description of Interest Final of Outstanding Due Due Outstanding
Issue Rate Payment Issue 6/30/15 FY 2016 FY 2016 6/30/16
Tax Increment
Vessel Systems(DICW) 12-30-03 8 0% 2015 140,000 - - - -
PortofDubuqueParkingRamp 10.16-07 ]5000% 2037 23,025,000 213]0,000 410,000 1,602,]50 20960,000
Adams Company G.0 TIF(DICW) 02-1304 4.0]% 2015 500,000 - - - -
TotalTaxlncrementBonds 23,665,000 213]0,000 410,000 1,602,]50 20960,000
Lower Main Development,LLC TO Note 06-30.04 8.00% 2016 182,000 25,009 25,009 606 -
Theisen Supply,Inc TO Note(DICW) 11-22-06 825% 2018 812,000 312500 96,162 23,83] 216338
40 Main(GOLD) 08-06-09 2020 690529 466,487 65 719 29,690 400 768
Total Tax Increment Notes 2,021529 803996 186,890 54133 61],106
Total Tax Increment 25,686529 22,1]3996 596,890 1,656,883 215]],106
Economic Development TIF Rebate Agreements
P&L Ventures (DICW) 01-01-06 Rebate 2018 143,050 86,059 28,686 - 5]3]3
Dubuque Screw (DICW) 01-01-07 Rebate 2019 231,180 163,838 40959 - 122,8]9
Tri-States (DICW) 01-01-04 Rebate 2017 3]4,690 104342 52,1]1 - 52 171
ArtsWay (DICW) 01-01-07 Rebate 2019 543,650 143268 4],]56 - 95,512
Spiegel Spec (DICW) 01-01-07 Rebate 2019 305,880 643950 214,650 - 429300
Kendall Hunt (DICW) 01-01-07 Rebate 2019 1,650920 380,411 126,804 - 253,60]
Hormel Foods (DICW) 01-01-07 Rebate 2021 625,000 4,0]1,]51 6]8,625 - 3393,126
Vanguard (DICW) 01-01-06 Rebate 2022 531212 105,8]1 35290 - ]0,581
Medline (DICW) 01-01-07 Rebate 2019 625,000 5]1,1]] 190392 - 380,]85
Giese Properties II (DICW) 01-01-07 Rebate 2019 56950 16 171 4,043 - 12128
Faley Properties(DICW) 01-01-12 Rebate 2023 1,04],]30 60],]16 86,81] - 520,899
TM Logistics(Walter)(DICW) 01-01-11 Rebate 2019 141,]55 126 237 42,0]9 - 84158
Green Industrial Supply(DICW) 01-01-11 Rebate 2019 639,850 2,419,459 302,432 - 2,11],02]
Franklin Investment(GOLD) 01-01-12 Rebate 2027 165,495 504,682 38,822 - 465,860
Candace(GDTIF) 01-01-13 Rebate 2028 1 266999 1,169538 97,461 - 1,0]2,0]]
Spann and Rose(GOLD) 01-01-12 Rebate 2015 6,046 - - -
-
NottinghamProperties(GDTIF) 01-01-12 Rebate 2027 2,010 1,210 93 - 1 11
Plastic Center(GDTIF) 01-01-12 Rebate 2027 3,255 21,901 7,492 - 14,409
Engine House#1(GDTIF) 01-01-12 Rebate 2022 22,428 13],0]6 11,423 - 125,653
Flexsteel(GDTIF) 01-01-12 Rebate 2022 92,440 1,6209]2 180,108 - 1,440,864
44 Main(GDTIF) 01-01-12 Rebate 2022 34],830 302 970 2]543 - 2]5,42]
The Crust(GOT IF) 01-01-10 Rebate 2025 225500 201,1]0 16,]64 - 184,406
Heartland Financial(GDTIF) 01-01-03 Rebate 2015 ]11,830 - - -
-
McGrawHillll(GDTIF) 01-01-03 Rebate 2018 4,826300 1,1]6,]05 392235 - ]84,4]0
Hartig(GDTIF) 01-01-07 Rebate 2019 101,]30 39,52] 9,881 - 29,646
POD Adam's Cc(GDTIF) 01-01-07 Rebate 2020 656,060 - - -
-
GermanBank(GDTIF) 01-01-01 Rebate 2020 66280 4],6]6 9535 - 38141
Star Brewery(GOLD) 01-01-06 Rebate 2020 152],050 335,832 6],148 - 268,684
Roshek Building(GOLD) 01-01-06 Rebate 2030 152],050 3 566 941 23],]96 - 3329,145
Interstate Building(GOLD) 01-01-06 Rebate 2020 171 380 89192 1],838 - 71 354
Date Net Year of Amount Principal Principal Interest Principal
Description of Interest Final of Outstanding Due Due Outstanding
Issue Rate Payment Issue 6/30/15 FY 2016 FY 2016 6/30/16
Tax Increment
Victory Cafe(GDTIF) 01-01-10 Rebate 2023 74,370 65,757 8,422 - 57,335
Julien Hotel(GDTIF) 01-01-07 Rebate 2026 492940 2,050,764 186,433 - 1,864331
C&B Secunty(GDTIF) 01-01-07 Rebate 2021 492940 75,002 12500 - 62,502
Monison Brothers(GOLD) 01-01-10 Rebate 2023 153200 144587 20,655 - 123,932
Benson(GDTIF) 01-01-13 Rebate 2028 150,859 140,802 10,057 - 130,745
Rouselot(GDTIF) 01-01-15 Rebate 2025 19,776 17,798 1978 - 15,820
Quebecor(GOLD) 01-01-08 Rebate 2021 101,770 - - -
Dubuque Stamp(Dubuque Malting&Brewing) 01-01-06 Rebate 2021 251 240 - - -
-
TheRose(HolyGhost) 01-01-12 Rebate 2021 139,422 125,480 13942 - 111,538
Kunkel Bounds(Technology Park South) 01-01-06 Rebate 2018 531212 141328 47,110 - 94218
L&J Properties (Technology Park South) 01-01-07 Rebate 2019 365,870 136,077 34,019 - 102,058
Conlon Johnson (Technology Park South) 01-01-07 Rebate 2019 594990 451235 112,808 - 338,427
Straka Johnson (Technology Park South) 01-01-07 Rebate 2019 154320 76,632 19,158 57,474
Total TIF Rebates 22159,460 22,081,105 3,431925 - 18,649,180
General Funded Leases Various Vanous On-going 135,000 135,000 135,000
Other Loans-Revenue Backed
Iowa Finance Authority Loan-Paradox 12-01-10 3.0000% 2030 4,500,000 4500,000 - 76,000 4500,000
Tri-State Building Purchase 02-09-10 0.0000% 2016 330,000 47142 47,142
Total Other Lns-RevBacked5,427945 4547,142 47,142 76,000 4500,000
Total City Indebtedness Subject to Debt Limit 274370,463 174,755567 11,957922 5,659702 171,509259
Revenue Bonds
Water-Clear Well Reservoirs 10-01-07 325% 2028 915,000 655,000 41,000 25,057 614,000
Water System Improvements&Ext. 11-04-08 471% 2023 1,195,000 755,000 80,000 44,882 675,000
Briclutown Parking Lot 12-01-08 5.0000% 2023 400,000 262,056 25,434 12,788 236,622
Water System Improvements&Ext. 08-16-10 354% 2030 5,700,000 4940,000 205,000 186575 4,735,000
Water&Resource Recovery Upgrade(Includes Co, 08-18-10 325% 2039 74285,000 67,832,000 2309,000 1291,003 65523,000
WRRC Cogeneration 05-17-13 2.00% 2033 3,048,000 2795,000 131,000 55,901 2,664,000
Northfork Catfish Sanitary Improvements 12-28-06 325% 2031 688371 555,759 26975 20331 528,784
Northfork Catfish StoUnwater Improv. 12-28-06 325% 2031 769,024 627545 30,460 22,957 597,085
Lower Bee Branch Restoration 12-01-10 325% 2041 5,836,613 4949,487 240240 599,882 4,709247
West 32nd Detention Basin 01-14-09 325% 2028 1,847,000 1 321,000 83,000 46,650 1238,000
Water Meter Change Out Program 11-01-09 325% 2031 6394,000 5380,000 262,000 174,850 5,118,000
Lower Bee Branch SRF 09-01-14 2.00% 2034 1,187,757 1,137,099 49,737 22,494 1,087362
Sales Tax Increment Revenue Bond-Planned Future TBD 2029 19,500,000 18,693,421 - 877,500 18,693,421
Upper Bee Branch SPF-Planned 2.00% 24,421,704 24,421,704 325,623 24,421,704
Total Revenue Bonds 146187,469 134325,071 3,483,846 3706,493 130,841225
Total City Indebtedness 420,557932 309,080,638 15,441,768 9366,195 302350,484
Statutory Debt Limit 193,113,721 196,031,074
%of Debt Limit Used 90.49% 87.49%
Remaining Debt Capacity 18,358,154 24,521,815
ATTACHMENT D
NORTH CASCADE ROAD HOUSING URBAN RENEWAL AREA
LEGAL DESCRIPTION:
LOTS 1 THRU 12 INCLUSIVE, AND LOTS 15 THRU 30 INCLUSIVE, AND LOTS B, C, AND E,
IN TIMBER-HYRST ESTATES, AND;
LOT 2 TIMBER-HYRST PLACE #2, AND;
ALL ADJOINING PUBLIC RIGHT OF WAY, ALL IN THE CITY OF DUBUQUE, DUBUQUE
COUNTY, IOWA.
LOTS 2 THRU 25 INCLUSIVE, AND LOTS 45 THRU 50 INCLUSIVE, IN TIMBER-HYRST
ESTATES NO. 2, AND;
LOT 1 TIMBER-HYRST PLACE #2, AND;
LOT 1 TENTINGER PLACE, AND;
LOT 2 TENTINGER PLACE, AND;
LOT 2 NINE H HIDDEN ACRES, AND;
LOT 41 TIMBER-HYRST ESTATES #2, AND;
LOT 2 DOUBLE H HIDDEN ACRES PLAT 2, AND;
LOT 2 OF NINE H HIDDEN ACRES PLAT 2, AND;
LOT 2 NINE H HIDDEN ACRES PLAT 6, AND;
LOT 2 NINE H HIDDEN ACRES PLAT 5, AND;
LOT 2 NINE H HIDDEN ACRES PLAT 4, AND;
LOT 35 TIMBER-HYRST ESTATES #2, AND;
LOT 34 TIMBER-HYRST ESTATES #2, AND;
LOT 33 TIMBER-HYRST ESTATES #2, AND;
LOT 2 TIMBER-HYRST PLACE, AND;
LOT 1 TIMBER-HYRST PLACE, AND;
LOT 29 TIMBER-HYRST ESTATES #2, AND;
LOT 2 NINE H HIDDEN ACRES PLAT#3, AND;
LOT 1 TIMBER-HYRST PLACE #3, AND;
LOT C TIMBER-HYRST ESTATES #2, AND;
LOT 1 OF THE NE Y4 OF THE SW %, SECTION 2, T88N, R2E, AND;
LOT 3 OF KNEPPER ADDITION, AND;
ALL ADJOINING PUBLIC RIGHT OF WAY, ALL IN THE CITY OF DUBUQUE, DUBUQUE
COUNTY, IOWA.
LOTS 1 THRU 24 INCLUSIVE, AND LOTS 32 THRU 34 INCLUSIVE, IN TIMBER-HYRST
ESTATES NO. 3, AND;
i
LOT 1 TIMBER-HYRST PLACE #6, AND;
LOT 2 TIMBER-HYRST PLACE #6, AND;
LOT 1 TIMBER-HYRST PLACE #4, AND;
LOT 1 TIMBER-HYRST PLACE #5, AND;
LOT 2 TIMBER-HYRST PLACE #5, AND;
ALL ADJOINING PUBLIC RIGHT OF WAY, ALL IN THE CITY OF DUBUQUE, DUBUQUE
COUNTY, IOWA.
ALL OF TIMBER-HYRST ESTATES NO. 4 SUBDIVISION, AND;
ALL ADJOINING PUBLIC RIGHT OF WAY, ALL IN THE CITY OF DUBUQUE, DUBUQUE
COUNTY, IOWA.
PARTS OF SECTIONS 3 AND 4 IN TOWNSHIP 88 NORTH, RANGE 2 EAST OF THE 5TH
P.M., DUBUQUE COUNTY, IOWA, BEING A STRIP OF LAND 300 FEET IN WIDTH LYING
150' ON EACH SIDE OF THE FOLLOWING DESCRIBED CENTERLINE:
BEGINNING AT THE INTERSECTION OF THE EAST LINE OF THE NORTHWEST QUARTER
OF SECTION 3, TOWNSHIP 88 NORTH, RANGE 2 EAST OF THE 5TH P.M. AND THE
CENTERLINE OF THE RIGHT OF WAY OF NORTH CASCADE ROAD, THENCE WESTERLY
AND SOUTHWESTERLY ALONG SAID RIGHT OF WAY CENTERLINE APPROXIMATELY
7,190 LINEAL FEET TO THE INTERSECTION WITH THE NORTH LINE OF LOT 2-1 OF THE
NORTHEAST QUARTER OF THE SOUTHWEST QUARTER OF SECTION 4, TOWNSHIP 88
NORTH RANGE 2 EAST OF THE 5TH P.M. AND ITS WESTERLY EXTENSION AND THE
POINT OF TERMINATION.
EXCEPTING THEREFROM ANY PORTION LYING WITHIN TIMBER-HYRST ESTATES NO. 4
SUBDIVISION AND EXCEPTING THEREFROM ANY PORTION LYING NORTH OF THE
NORTH LINE OF THE NORTHWEST QUARTER OF SAID SECTION 3 AND EXCEPTING
THEREFROM ANY PORTION LYING SOUTH OF THE NORTH LINE OF SAID LOT 2-1 AND
ITS WESTERLY EXTENSION.
2
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City of Dubuque
Housing TIF Summary-TimberHyrst
TIF Revenue
TimberHyrst TimberHyrst Total
FY Low Income Public Imp. TIF 25% Debt Payment
2016 $ 38,246 $ 62,136 $ 100,382 $ 15,534 $ 46,602
2017 $ 160,503 $ 260,764 $ 421,266 $ 65,191 $ 195,573
2018 $ 281,776 $ 457,793 $ 739,569 $ 114,448 $ 343,345
2019 (63.65% LMI) $ 648,274 $ 630,450 $ 1,018,497 $ 6,238 $ 363,985
2020 (69.37% LMI) $ 824,420 $ 735,623 $ 1,188,405 $ - $ 363,985
2021 (73.14% LMI) $ 991,007 $ 838,740 $ 1,354,993 $ $ 363,985
2022 (55.38% LMI) $ 849,445 $ 949,485 $ 1,533,901 $ $ 363,985
2023 $ 224,036 $ 1,052,958 $ 1,701,062 $ $ 363,985
2024 $ 224,036 $ 1,106,006 $ 1,786,763 $ $ 363,985
2025 $ 224,036 $ 1,161,469 $ 1,876,363 $ $ 363,985
TIF Revenue $ 4,465,778 $ 7,255,424 $ 11,721,202 $ 201,411 $ 3,133,415
TIF Funds Committed $ 4,465,778 $ 3,334,827
Uncommitted TIF Funds $ - $ 3,920,597
Subdivision Improvements TIF Borrow DMATS STP
Fiber Conduit &Vaults $ 111,111 $
Stormwater Over Detention $ 50,000 $
Escrow $ 40,300
Enhanced Park $ 150,000 $
Total Subdivision Improvements $ 351,411 $
Public Improvements on N. Cascade Rd.
Water Main - Timber Hyrst of Curve#2 $ 143,000 $ -
Roadway Improve - Timber Hyrst to Curve#2 $ 204,280 $ 434,720
Water Main - Curve#2 to Edval $ 110,000 $ -
Roadway Improve - Curve#2 to Edval $ 201,960 $ 445,040
Water Main - Edval to Zoo $ 375,000 $ -
Roadway Improve - Edval to Zoo $ 624,480 $ 1,575,520
Water Main - SW Arterial/Walser Lane $ 447,000 $ -
Bond Issuance Cost $ 244,280
Bond Interest Expense $ 633,416 $ -
Total Public Improvements TIF Financed $ 2,983,416 $ 2,455,280
Total Improvements $ 3,334,827 $ 2,455,280
Surplus(Deficit) $ 3,920,597