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Letter of Support for Steeple Square Copyrighted July 2, 2018 City of Dubuque Consent Items # 7. IT EM T IT LE: Letter of Support for Steeple Sq uare SUMMARY: City Manager requesting approval to submit a Letter of Support for the Steeple Square project. SUGGESTED DISPOSITION: Suggested Disposition: Receive and File; Approve ATTACHMENTS: Description Type Letter of Support for Steeple Square Supporting Documentation THE CITY OF Dui Masterpiece an the Mississippi Mr. John Gronen President Gronen Development 900 Jackson St Ste. LL -2 Dubuque, IA 52001 Dubuque trall All -America City i' 2007 • 2012 • 2013 Dear Mr. Gronen and Mr. McCullough, City Manager's Office City Hall 50 West 13th Street Dubuque, Iowa 52001-4805 Office (563) 589-4110 Fax (563) 589-4149 TTY (563) 690-6678 ctyrngr@cityofdubuque.org www.cityofdubuque.org June 25, 2018 Mr. Jack McCullough Board President Steeple Square PO Box 3188 Dubuque, IA 52004-3188 Redeveloping historic properties in downtown areas can be an expensive venture. Building new at the outskirts of town can be a less expensive option, but the City of Dubuque believes there are many benefits to revitalizing the downtown area. The Steeple Square project, the former St. Mary's Church is one of the most prominent buildings in downtown Dubuque. This project will spur economic development in our lowest -income census tract, encourage additional revitalization, utilize existing resources to prohibit the destruction of the environment, and create a historical destination where citizens and visitors can live, work, and play. Steeple Square is one of Dubuque's signature buildings in our True North neighborhood and has a very strong visual presence in the community. The project will transform our most distressed census tract, the Washington neighborhood, also known as "True North", into downtown Dubuque's center for social life and community support. It's unique historic fabric and features will connect to the past while inspiring the future. A significant gap exists for funding this project and New Market Tax Credits will make this significant project move forward. The current property owner sees the potential to redevelop the properties and to create a connection for citizens, workers, and visitors between the two areas. This will help spur additional revitalization in the area. Steeple Square mission to serve as a collaborative, multi -tenant, inclusive center, providing an attractive hub for social life and community support. The repurposed campus will be an agent for positive change and catalyst for restoring lives, citizen engagement, and neighborhood empowerment and community vibrancy in the heart of our most vulnerable neighborhood. Service People Integrity Responsibility Innovation Teamwork Mr. John Gronen Mr. Jack McCullough June 25, 2018 Page 2 The City of Dubuque is committed to revitalizing the downtown area and this project is a catalyst project to continue the long-term process of transforming the area. The City has been a partner in discovering financing mechanisms for these projects and is excited for the possibility of making downtown Dubuque a greater place to live, work, and play. Sincerely, Michael C. Van Milligen City Manager MCVM:jh