Rehabilitation Loan and Mortgage_Duaine Greenfield (190 Main St.)
Economic Development Department
50 West 13th Street
Dubuque, Iowa 52001-4864
Office (563) 589-4393
TTY (563) 690-6678
http://www.cityofdubuque.org
TO: Michael Van Milligen, City Manager
FROM: Maurice Jones, Economic Development Director
SUBJECT: Release of Mortgages for Downtown Rehabilitation Loan #98-2
DATE: February 28, 2017
INTRODUCTION
The purpose of this memorandum is to inform you of the paid status of a downtown
rehabilitation loan and to request your signature on the release of mortgage for the two
mortgages associated with that loan.
BACKGROUND
In 1998 the Economic Development department provided a $188,000 loan to Duaine
and Jane Greenfield for the rehabilitation of 190 Main Street, which included the
creation of an upper-story residential unit.
The loan was secured with two mortgages, in the amount of $170,000 and $18,000
each. Those mortgages were recorded as instruments #11554-98 and #11555-98,
respectively, on July 23, 1998.
DISCUSSION
Regular payments were made over the term of the loan, and Ms. Greenfield has paid
the balance of the loan as of December 13, 2016. We have prepared a release of
mortgage document for each of the mortgages listed above.
RECOMMENDATION/ ACTION STEP
I respectfully request your signature on the release of mortgage on each of the two
mortgages associated with this loan.
Re~lular SessiOn, jun~ ~, i~:
203
institute said eminent domain
proceedings forthwith for and on behalf
of the City of Dubuque, Iowa.
Section 2. That the Corporation
Counsel be and is hereby directed and
empowered to do any and a[~ things
necessary and incidental to said
eminent domain proceedings.
Passed, approved and adopted this
1st day of June, 1998.
Terrance M. Duggan, Mayor
Attest: Mary A. Davis, City Clerk
Buol moved adoption of the
Resolution. Seconded by Michalski.
Carded by the following vote:
Yeas--Buol, Markham, Michalski,
Nicholson, Robbins, Voetberg.
Nays--Duggan.
Community Development Advisory
Commission advising of their
endorsement for the Lead Paint Hazard
Control Grant and recommending
aitocation of $60,000 of CDBG funds
for FY 2001 and 2002 for this project
and City Manager recommending to
endorse said Grant, presented and
read. Voetberg moved that the
communications be received and filed
and approved recommendation.
Seconded by BuoL Motion carried 70.
City Manager recommending
approvat of loan in amount of $188,000
from TIF-Funded Rehabilitation Loan
Program to Duaine & Jane Greenfield,
presected and read. Voetberg moved
that the communication be received
and filed. Seconded by BuoL Motion
carried 7-0.
RESOLUTION NO. 220-98
A RESOLUTION AUTHORIZING A
LE'I I ER OF COMMITMENT AND
ADDITIONAL ACTION CONCERNING
A DOWNTOWN REHABILITATION
LOAN TO DUAINE H. AND JANE M.
GREENFIELD.
Whereas, the City of Dubuque, iowa,
has created a Downtown Rehabilitation
Loan Program for the purpose of
stimulating reinvestmect in the
Downtown Dubuque Urban Renewal
District; and
Whereas, the City of Dubuque, Iowa
is encouraging the use of this loan
program to finance code compliance
activities and to spur job creation
activities; and
Whereas, the loan application from
Duaine H. and Jane M. Greenfield
meets the requirements of this
program; and
Whereas a Commitment Letter,
hereto attached and by this reference
made apart hereof, sets forth the terms
and conditions of Duaine H. and Jane
M. Greenfield's participation in the
Downtown Rehabilitation Loan
Program.
NOW, THEREFORE, BE iT
RESOLVED BY THE CITY COUNCIL
OF THE CITY OF DUBUQUE, IOWA:
Section 1. That the application of
Duaine H. and Jane M. Greenfield for
participation in the Downtown
Rehabilitation Loan Program is hereby
accepted and approved.
Section 2. That the Mayor is hereby
authorized to execute, on behalf of the
City Council of the City of Dubuque,
Iowa, the attached Commitment Letter
and to forward said letter to Duaine H,
and Jane M. Greenfield for review and
approval.
Section 3. That the City Manager be
and he is hereby directed to prepare,
upon execution and receipt of the
attached Commitment Letter by the
applicant, the necessary toan
documents in accordance with the
terms and conditions set forth in said
Commitment Letter.
Section 4. That the City Manager is
hereby authorized to execute on behalf
of the City Council of the City of
Dubuque, Iowa, all necessary loan
documents and is further authorized to
disburse loan funds from the Downtown
Rehabilitation Loan Program, n
accordance with the terms and
conditions of the execute agreement.
Passed. approved and adopted this
1st day of June, 1998.
Terrance M. Duggan, Mayor
Attest: Mary A. Davis, City Clerk
Veetberg moved adoption of the
Resolution. Seconded by BuoL Motion
carried 7-0.
City Manager recommending an
amendment to the Homeowner Histodc
Preservation Grant Program to allow
mul~family residences to be eligible for
a loan, presented and read. Voetberg
moved that the communication be
received and filed and recommendation
approved. Seconded by BuoL Motion
carried 7-0.
Environmental Stewardship Advisory
Commission submitting Deer
Management Plan and recommending
City Council appoint and allocate City
Staff to work with DNR for
implementation, presented and read.
Nicholson submitted suggested
solutions to this growing problem.
Nicholson moved that it be resolved
that elevated deer stands be erected