McGraw Hill Proj Cert CompletioMEMORANDUM
May 13, 2002
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: Certificate of Completion for McGraw-Hill Project
Economic Development Director Bill Baum recommends issuance of a Certificate of
Completion to the Developer of the McGraw-Hill project acknowledging achievement of
their obligations to complete Minimum Improvements as stipulated in the Development
Agreement, which includes a 320,000 square foot building at a cost not less than
$6,700,000. The project has met the relevant requirements of the Development
Agreement and will be ready for occupancy by mid-May.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
Michael C.Van Milligen
MCVM/jh
Attachment
cc: Barry Lindahl, Corporation Counsel
Cindy Steinhauser, Assistant City Manager
William Baum, Economic Development Director
CITY OF DUBUQUE, IOWA
MEMORANDUM
May 10, 2002
TO: Michael Van Milligen, City Manager
FROM: William Baum, Economic Development Director
SUBJECT: Certificate of CompletiOn for McGraw-Hill Project
Introduction
This memorandum provides for City Council review and approval a Certificate of
Completion for the McGraw-Hill project. The Development Agreement of October 15,
2001 by and among the City, Ruscilli Development Co., LTD. (Developer) and The
McGraw-Hill Companies, Inc. (Employer) stipulated that a Certificate of Completion
would be issued to the Developer upon the completion of the Minimum Improvements
(building construction and interior improvements). The Developer has since become
R/W Dubuque, LLC.
Discussion
William Tippman, representing the Developer, has requested issuance of the
Certificate. He has provided verification, through certified statements from R/W
Dubuque, LLC and Ruscilli Construction Co., Inc., that the obligations as required in the
Development Agreement to construct a minimum 320,000 square foot building at a cost
of not less than $6,700,000 within the allotted time period have been met.
The issuance of a Certificate of Completion waives all rights of revestment of title that
the City retains through the Development Agreement to assure that the project is
completed in accordance with the previsions of the Agreement and that certain Events
of Default have not occurred.
Recommendation
I recommend issuance of a Certificate of Completion to the Developer acknowledging
completion of their obligations to complete Minimum Improvements as stipulated in the
McGraw-Hill project Development Agreement. The project has met the relevant
requirements of the Development Agreement and will be ready for occupancy by mid-
May.
Action Step
The action step for the City Council is to approve the attached Certificate of Completion
and to authorize the Mayor and City Clerk to sign the Certificate on behalf of the City.
attachments
F:\USERS~Pm)hre\WPDOCS\LOANDOC~vlCGRAW H[LL\certifofcompl.rnem.doc
CERTIFICATION
Certification made this [~,W-day of May, 2002, by R/W DUBUQUE, LLC, c/o R/W Dubuque
Manager, LLC, 5747 Perimeter Drive, Suite 130, Dublin, Ohio 43017 to CITY OF DUBUQUE,
IOWA, City Hall, 50 W. 13~ Street, Dubuque, IA 52001.
WITNESSETH:
WHEREAS, The City of Dubuque, Iowa, ("City") established an Urban Renewal Plan, for the
Dubuque Industrial Center Economic Development District, City of Dubuque, Iowa, as amended
(the "Plan"); and
WHEREAS, Pursuant to the Plan, the City, R/W Dubuque, LLC ("Developer"), and The
McGraw-Hill Companies, Inc. ("Employer") entered into a Development Agreement dated
October 19, 2001, as amended by the First Amendment to Development Agreement, dated
November 13,2001 (collectively, the "Agreement"); and
WHEREAS, Pursuant to the Agreement, Developer agreed to construct a building (the
"Building") and certain internal syst~ns ("Minimum Improvements"), on Lot 5 of Dubuque
Industrial Center West, City of Dubuque, Iowa, at a cost of not less than $6,700,000; and
WltEREAS, The City, Developer and Employer agreed in the Agreement that the Building is to
contain not less than 320,000 square feet of floor space; and
WHEREAS, The Developer retained Ruscilli Construction Co., Inc. ("Contractor") to construct
the Minimum Improvements.
NOW THEREFORE, the Developer certifies to the City as follows:
The Minimum Improvements have been constructed at a cost of not less than
$6,700,000.
2. The Building contains not less than 320,000 square feet of floor space.
R/W DUBUQUE, LLC
an Ohio limited liability company
By:
RYW Dubuque, Manager, LLC
an Ohio limited liability company
its managing member
5/6/02 - 9046937
CERTIFICATION
Certification made this ~' day of May, 2002, by RUSCILLI CONSTRUCTION CO., INC.,
2041 Arlingate Lane, Columbus~ Ohio 43228 to CITY OF DUBUQUE, IOWA, City Hail, 50 W.
13t~ Street, Dubuque, IA 52001 and to R/W DUBUQUE, LLC, c/o RIW Dubuque Manager,
LLC, 5747 Perimeter Drive, Suite 130, Dublin, Ohio 43017.
WITNESSETH:
WHEREAS, The City of Dubuque, Iowa, ("City") established an Urban Renewal Plan, for the
Dubuque Industrial Center Economic Development District, City of Dubuque, Iowa, as amended
(the "Plan"); and
WI-IEREAS, Pursuant to the Plan, the City, R/W Dubuque, LLC ("Developer"), and The
McGraw-Hill Companies, Inc. ("Employer") entered into a Development Agreement dated
October 19, 2001, as amended by the First Amendment to Development Agreement, dated
November 13, 2001 (collectively, the "Agreement"); and
WHEREAS, Pursuant to the Agreement, Developer agreed to construct a building (the
"Building") and certain intemai systems ("Minimum Improvements"), on Lot 5 of Dubuque
Industrial Center West, City of Dubuque, Iowa, at a cost of not less than $6,700,000; and
WHEREAS, The City, Developer and Employer agreed in the Agreement that the Building is to
contain not less than 320,000 square feet of floor space; and
WHEREAS, The Developer retained Ruscilli Construction Co., Inc. ("Contractor") to construct
the Minimum Improvements.
NOW THEREFORE, the Contractor certifies to the City as follows:
The Minimum Improvements have been constructed at a cost of not less than
$6,700,000.
o
The Building contains not less than 320,000 square feet of floor space.
RUSCILLI~STRUCTION CO, INC.
/- / - [
Printed. N~l~: g::t~t~ ~---'
Its: x,ZI~..~_. ~~ -
Prepared By: Pamela Myhre 50 West 13th Street Dubuque, IA 52001 563-589-4393
CERTIFICATE OF COMPLETION
WHEREAS, the City of Dubuque, Iowa, a municipal corporation (the "Grantor"),
by a Special Warranty Deed recorded on November 16, 2001 as Instrument Number
18859-01 in the office of the County Recorder of Dubuque County, State of Iowa, has
conveyed to R/W Dubuque, LLC (the "Grantee"), in accordance with a Development
Agreement dated as of October 15, 2001, and as amended by the First Amendment to
Development Agreement dated November 13, 2001 by and among the Grantor, the
Grantee and The McGraw-Hill Companies, Inc. (collectively, the "Agreement"), certain
real property located within the Dubuque Industrial Center Urban Renewal District of the
Grantor and as more particularly described as follows:
Lot 5 of Dubuque Industrial Center West, City of Dubuque, Dubuque County,
Iowa (the "Development Property"); and
WHEREAS, said Deed incorporated and contained certain covenants and
restrictions with respect to the development of the Development Property, and obligated
the Grantee to construct certain Minimum Improvements (as defined therein) in
accordance with the Agreement; and
WHEREAS, the Grantee has to the present date performed said covenants and
conditions insofar as they relate to the construction of the Minimum Improvements in a
manner deemed sufficient by the Grantor to permit the execution and recording of this
certification.
NOW, THEREFORE, pursuant to Section 2.4 of the Agreement, this is to certify
that all covenants and conditions of the Deed and the Agreement with respect to the
obligations of the Grantee, and its successors and assigns, to construct the Minimum
Improvements on the Development Property have been completed and performed by
the Grantee and that the provisions for forfeiture of title and right to re-entry for breach
of the condition subsequent by the Grantor contained therein are hereby released
absolutely and forever terminated insofar as they apply to the land described herein.
The County Recorder of Dubuque County is hereby authorized to accept for recording
and to record the filing of this instrument, to be a conclusive determination of the
satisfactory termination of the covenants and conditions of said Deed and the
Agreement which would result in a forfeiture by the Grantee and right of the Grantor to
re-enter and take possession of the Development Property as set forth in said Deed and
the Agreement, and that said Deed and the Agreement shall otherwise remain in full
force and effect.
(SEAL)
ATTEST:
Karen M. Chesterman, Deputy City Clerk
CITY Of DUBUQUE, IOWA
By: ~
T'errance M. Duggan, Mayor
STATE OF IOWA )
) SS
COUNTYOF DUBUQUE )
Deputy
On this 20th day of ],[ay ,2002, before me a Notary
Public in and for said County, personally appeared Terrance M. Duggan and Jea.-.ne-~. Karen
-Seheeide~to me personally known, who being duly sworn, did say that they are the Chesterean
Mayor an;~ ~,¥t~Clerk, respechvely of the C~ty of Dubuque, Iowa, a Municipal
Corporation, created and existing under the laws of the laws of the State of Iowa, and
that the seal affixed to the foregoing instrument was signed and sealed on behalf of said
Municipal Corporation by authority and resolution of its City~__C. ouncil and said Mayor and
City Clerk acknowledged said instrument to be the free pdt aCd deed of said Mun c pal
Corporation by it voluntarily executed.
! otary Public in. nd for
/ D~Tque Co,~nty, Iowa
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