Resolution_IBM Development Agreement(This Notice to be posted)
NOTICE AND CALL OF PUBLIC MEETING
Governmental Body: The City Council of Dubuque, Iowa.
Date of Meeting: January 26, 2009
Time of Meeting: 6:30 o'clock P.M.
Place of Meeting: Historic Federal Building, 350 West 6th Street, Dubuque,
Iowa.
PUBLIC NOTICE IS HEREBY GIVEN that the above mentioned governmental
body will meet at the date, time and place above set out. The tentative agenda for said
meeting is as follows:
Greater Downtown Urban Renewal District
Public hearing on the proposal to authorize a Development
Agreement between the City of Dubuque, Iowa and Dubuque
Initiatives, and an Incentive Agreement between the City and
International Business Machines Corporation
Resolution approving and authorizing execution of the Development
Agreement and Incentive Agreement
Such additional matters as are set forth on the additional one page(s) attached hereto.
This notice is given at the direction of the Mayor pursuant to Chapter 21, Code of
Iowa, and the local rules of said governmental body.
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;City Clerk, Dubuque, Iowa
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January 27, 2009
The City Council of Dubuque, Iowa, met in special session, in the Historic
Federal Building, 350 West 6th Street, Dubuque, Iowa, at 6:30 o'clock P.M., on the
above date. There were present Mayor Roy D. Buol, in the chair, and the following
named Council Members:
Present: Karla Braig, Joyce Connors, Ric Jones, Kevin Lynch, Dirk Voetberg
Absent: David Resnick
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The Mayor announced that this was the time and place for the public hearing and
meeting on the matter of the proposal to approve and authorize execution of a
Development Agreement with Dubuque Initiatives, and an Incentive Agreement with
International Business Machines Corporation, and that notice of the proposed action by
the Council to authorize the same and the economic development grants described
therein had been published pursuant to the provisions of Section 403.9 of the Code of
Iowa.
The Mayor then asked the Clerk whether any written objections had been filed by
any City resident or property owner to the proposed action. The Clerk advised the
Mayor and the Council that no written objections had been filed. The Mayor then called
for oral objections and none were made. Whereupon, the Mayor declared the time for
receiving oral and written objections to be closed.
(Attach here a summary of objections received or made, if any)
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The Council then considered the proposed action and the extent of objections
thereto.
Whereupon, Council Member Lynch introduced and delivered to the Clerk the
Resolution hereinafter set out entitled "RESOLUTION APPROVING AND
AUTHORIZING EXECUTION OF THE DEVELOPMENT AGREEMENT BETWEEN THE
CITY OF DUBUQUE, IOWA AND DUBUQUE INITIATIVES, AND THE INCENTIVE
AGREEMENT BETWEEN THE CITY AND INTERNATIONAL BUSINESS MACHINES
CORPORATION", and moved:
/ / that the Resolution be adopted.
/ X/ to ADJOURN and defer action on the Resolution and
the proposal to the meeting to be held at 6:30 o'clock P.M. on the 2nd day
of February, 2009, at this place.
Council Member Connors seconded the motion. The roll was called and the vote
was,
AYES: Braig, Buol, Connors, Jones, Lynch, Voetberg
NAYS: None
Whereupon, the Mayor declared the measure duly adopted.
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RESOLUTION NO.
RESOLUTION APPROVING AND AUTHORIZING
EXECUTION OF THE DEVELOPMENT AGREEMENT
BETWEEN THE CITY OF DUBUQUE, IOWA AND
DUBUQUE INITIATIVES, AND THE INCENTIVE
AGREEMENT BETWEEN THE CITY AND
INTERNATIONAL BUSINESS MACHINES CORPORATION
WHEREAS, the City Council has approved and adopted an Amended and
Restated Urban Renewal Plan (the "Urban Renewal Plan") for an area described
therein as the Greater Downtown Urban Renewal District (the "Urban Renewal Area");
and
WHEREAS, it is desirable that properties within the Urban Renewal Area be
redeveloped as part of the overall redevelopment area covered by said Urban Renewal
Plan; and
WHEREAS, the City of Dubuque ("City") has received a proposal from Dubuque
Initiatives (the "Developer") and International Business Machines Corporation (the
"Employer"), in the form of a proposed Development Agreement (the "Development
Agreement") between the City and the Developer and a proposed Incentive Agreement
(the "Incentive Agreement," and together with the Development Agreement, referred to
herein as the "Agreements") between the City and the Employer, pursuant to which,
among other things, the Developer would acquire and renovate the Dubuque Building
located at 700 Locust Street in the City, and lease portions of the same to the Employer;
and
WHEREAS, the Employer reasonably expects to create approximately 1,300 new
full-time employment positions at the Dubuque Building property prior to January 1,
2011, and reasonably expects to maintain those jobs during the term of the
Agreements; and
WHEREAS, in consideration of the obligations being assumed by the Developer
and the Employer, the Agreements further propose that the City provide certain financial
assistance to the Developer and the Employer, including a loan guaranty for the benefit
of the Developer and the payment of certain economic development grants to the
Developer and the Employer; and
WHEREAS, the economic development grants to the Developer and the
Employer shall be payable from, and only from, the tax increment revenues collected by
the City in respect of the Dubuque Building property and the improvements constructed
thereon, under the terms and following satisfaction of the conditions set forth in the
Agreements; and
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WHEREAS, Iowa Code Chapters 15A and 403 (the "Urban Renewal Law")
authorize cities to make grants for economic development purposes in furtherance of
the objectives of an urban renewal plan and project and to appropriate such funds and
make such expenditures as may be necessary to carry out the purposes of said
Chapters, and to levy taxes and assessments for such purposes; and
WHEREAS, the Council has determined that the Agreements are in the best
interests of the City and the residents thereof and that the performance by the City of its
obligations thereunder are public undertakings and purposes and in furtherance of the
Urban Renewal Plan and the Urban Renewal Law and, further, that the Agreements and
the City's performance thereunder are in furtherance of appropriate economic
development activities and objectives of the City within the meaning of Chapters 403
and 15A of the Iowa Code, taking into account the factors set forth therein; and
WHEREAS, pursuant to notice published as required by Section 403.9, this
Council has held a public meeting and hearing upon the proposal to approve and
authorize execution of the Agreements and the foregoing economic development grant
payments, and has considered the extent of objections received from residents or
property owners with respect thereto; and, accordingly the following action is now
considered to be in the best interests of the City and residents thereof.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF DUBUQUE, IOWA:
Section 1. That the performance by the City of its obligations under the
Agreements, including but not limited to the payment of the economic development
grants to the Developer and the Employer under the terms set forth in the Agreements,
be and are hereby declared to be public undertakings and purposes and in furtherance
of the Urban Renewal Plan and the Urban Renewal Law and, further, that the
Agreements and the City's performance thereunder are in furtherance of appropriate
economic development activities and objectives of the City within the meaning of
Chapters 403 and 15A of the Iowa Code, taking into account the factors set forth therein.
Section 2. That the form and content of the Agreements, including the form and
content of the Guaranty Agreement between the City and Dubuque Bank and Trust
Company attached to the Development Agreement as an exhibit, the provisions of
which are incorporated herein by reference, be and the same hereby are in all respects
authorized, approved and confirmed, and the Mayor and the City Clerk be and they
hereby are authorized, empowered and directed to execute, attest, seal and deliver the
same for and on behalf of the City in substantially the form and content now before this
meeting, but with such changes, modifications, additions or deletions therein as may be
approved by such officers upon the advice of the City Attorney, and that from and after
the execution and delivery of the Agreements, the Mayor and the City Clerk are hereby
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authorized, empowered and directed to do all such acts and things and to execute all
such documents as may be necessary to carry out and comply with the provisions of the
Agreement as executed.
Section 3. That the economic development grant payments to be made by the
City under the Agreements, the provisions of which are incorporated herein by reference,
be and the same hereby are in all respects authorized, approved and confirmed, and the
City Manager, City Clerk and other City staff be and are hereby authorized, empowered
and directed to certify the amount of the economic development grant payments to the
Dubuque County Auditor for tax increment reimbursement, and to cause such payments
to be made to the Developer and Employer as may be required under the Agreements,
at the times set forth therein, and to do all such acts and things and to execute all such
documents as may be necessary to carry out and comply with the provisions of said
Agreements.
PASSED AND APPROVED this day of
2009.
Mayor
ATTEST:
Clerk
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CIG-3
STATE OF IOWA )
SS
COUNTY OF DUBUQUE )
CERTIFICATE
1, the undersigned City Clerk of Dubuque, Iowa, do hereby certify that attached is
a true and complete copy of the portion of the corporate records of said Municipality
showing proceedings of the Council, and the same is a true and complete copy of the
action taken by said Council with respect to said matter at the meeting held on the date
indicated in the attachment, which proceedings remain in full force and effect, and have
not been amended or rescinded in any way; that meeting and all action thereat was duly
and publicly held in accordance with a notice of meeting and tentative agenda, a copy of
which was timely served on each member of the Council and posted on a bulletin board
or other prominent place easily accessible to the public and clearly designated for that
purpose at the principal office of the Council (a copy of the face sheet of said agenda
being attached hereto) pursuant to the local rules of the Council and the provisions of
Chapter 21, Code of Iowa, upon reasonable advance notice to the public and media at
least twenty-four hours prior to the commencement of the meeting as required by said
law and with members of the public present in attendance; I further certify that the
individuals named therein were on the date thereof duly and lawfully possessed of their
respective city offices as indicated therein, that no Council vacancy existed except as
may be stated in said proceedings, and that no controversy or litigation is pending,
prayed or threatened involving the incorporation, organization, existence or boundaries
of the City or the right of the individuals named therein as officers to their respective
positions.
WITNESS my hand and the seal of said Municipality hereto affixed this 27t" day of
January, 2009.
,City Clerk, Dubuque, Iowa
SEAL
DCORNELL/ 602634.1 /MSWord\10422.087
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AH~~~s ~~~Coo~~Y, P.C.
ATTORNEYS AT LAW
100 COURT AVENUE o SUITE 600
DES MOINES, IOWA 50309-2231
PHONE 515-243-7611
FAX: 515-243-2149
WWW.AHLERSLAW.COM
WILLIAM J. NOTH
WNOTH@AHLERSLAW.COM
January 19, 2009
Ms. Jeanne Schneider
City Clerk
City of Dubuque
50 West 13th Street
Dubuque, Iowa 52001-4864
RE: Development Agreement
Dear Ms. Schneider:
Direct Dial:
(515)246-0332
With this letter I am enclosing suggested proceedings to be acted upon by the City
Council on the date fixed for the hearing on the Development Agreement between the
City and Dubuque Initiatives, and the Incentive Agreement with International Business
Machines Corporation.
The proceedings are prepared to show as a first step the receipt of any oral or
written objections from any resident or property owner to the proposed action of the City
Council. A summary of objections received or made, if any, should be attached to the
proceedings. After all objections have been received and considered, if the City Council
decides not to abandon the proposal, a form of resolution follows that should be
introduced and adopted, approving and authorizing execution of the two Agreements and
the attached Guaranty Agreement.
An extra copy of the proceedings is enclosed to be filled in as original and
certified back to us for our transcript of the action taken.
WISHARD &BAILY - 1588; GUERNSEY &BAILY - 1893; BAILY &STIPP - 1901; STIPP, PERRY, BANNISTER & STARZINGER - 1914; BANNISTER, CARPENTER,
AHLERS & GOONEY - 1950; AHLERS, GOONEY, DORWE~LER, ALLBEE, HAYNIE & SMITH - 1974; AHLERS, GOONEY, DORWEILER, HAYNIE, SMITH &ALLBEE, P.C. -
1990
January 19, 2009
Page 2
If you have any questions, please do not hesitate to contact me.
Yours very truly,
William J. Noth
WJN:dc
encl.
cc: Barry Lindahl (w/encl.)
David Heiar (w/encl.)
Ken TeKippe (w/encl.)
DCORNELU 603172.1 /MSWord\10422.087