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Peru Road Urban Renewal District 2018.1_Public Hearing Only Copyrighted December 3, 2018 City of Dubuque Public Hearings # 5. ITEM TITLE: Peru Road Urban Renewal District 2018.1 SUMMARY: Proof of publication on notice of public hearing to consider approval of the Amended and Restated Peru Road Urban Renewal Plan for the Peru Road Urban Renewal Area, and the City Manager recommending approval. RESOLUTION Approving the Amended and Restated Urban Renewal Plan for the Peru Road Urban Renewal Area SUGGESTED DISPOSITION: Suggested Disposition: Receive and File; Adopt Resolution(s) ATTACHMENTS: Description Type Peru Road Urban Renewal Plan-NNM Memo City Manager Memo Staff Memo Staff Memo Urban Renewal Plan Supporting Documentation Attachment A- area map Supporting Documentation Attachment B1 - Ebsting Land Use Supporting Documentation Attachment B2 - Proposed Land Use Supporting Documentation Attachment C - Bonded Indebtedness Supporting Documentation Attachment D - Legal Description Supporting Documentation Taxing Body Consultation Minutes Supporting Documentation Resolution of Adoption Resolutions TO: The Honorable Mayor and City Council Members FROM: Michael C. Van Milligen, City Manager SUBJECT: Recommend No Current Action on the Peru Road Urban Renewal Plan Following Public Hearing DATE: December 3, 2018 The purpose of this memorandum is to request no action currently be taken on the adoption of the Amended and Restated Urban Renewal Plan for the Peru Road Urban Renewal Area following the December 3, 2018 public hearing. The proposed new Subarea B of the Plan includes property that had previously been included in the Swiss Valley Urban Renewal Area. Counsel had advised that the Swiss Valley Urban Renewal Plan be terminated before placing that same property in the Peru Road Urban Renewal Plan. I recommend that following the public hearing, no action be immediately taken on the resolution adopting the Amended and Restated Urban Renewal Plan for the Peru Road Urban Renewal Area. _____________________________________ Michael C. Van Milligen MCVM:jh Attachment cc: Crenna Brumwell, City Attorney Teri Goodmann, Assistant City Manager Cori Burbach, Assistant City Manager Maurice Jones, Economic Development Director Jill Connors, Economic Development Project Coordinator THE CITY OF Dubuque � AIFA�erlwGh UB E '�� III► Masterpiece on the Mississippi Z°°'�w'2 7A13 2017 TO: The Honorable Mayor and City Council Members FROM: Michael C. Van Milligen, City Manager SUBJECT: Urban Renewal Plan for the Peru Road Urban Renewal Area DATE: November 28, 2018 Economic Development Director Maurice Jones recommends City Council approval of the Amended and Restated Urban Renewal Plan for the Peru Road Urban Renewal Area. The proposed Amended and Restated Urban Renewal Plan would add property to the District and authorize the undertaking of an additional urban renewal project with Prairie Farms Dairy, Inc., consisting of expanding its operations facility. I concur with the recommendation and respectfully request Mayor and City Council approval. �� Mic ael C. Van Milligen �� MCVM:jh Attachment cc: Crenna Brumwell, City Attorney Teri Goodmann, Assistant City Manager Cori Burbach, Assistant City Manager Maurice Jones, Economic Development Director Dubuque Economic Development Department THE CITY OF 50 West 13t"Street All-AmericaCitY Dubuque,lowa 52001-4864 1 ' 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: Urban Renewal Plan for the Peru Road Urban Renewal Area DATE: November 26, 2018 INTRODUCTION The purpose of this memorandum is to forward for City Council review and approval the Amended and Restated Urban Renewal Plan (Plan) for the Peru Road Urban Renewal Area (District). The proposed Amended and Restated Urban Renewal Plan, Version 2018.1, ("Urban Renewal Plan") for the District would add property to the District to create Subarea B and authorize the undertaking of an additional urban renewal project in the District with Prairie Farms Dairy, Inc. consisting of expanding its operations facility. BAC KG RO U N D On November 5, 2018, the City Council approved a Resolution of Necessity finding that the proposed urban renewal area meets the definition of a blighted and an economic development area under state law, and is appropriate for urban renewal activities to remediate and stop the spread of the blighted conditions in the District. Further, the District will be designated as a mixed area for the remediation of blight and promotion of economic development (commercial and industrial). Staff has prepared an amended urban renewal plan for the District per the directive of the City Council. DISCUSSION In compliance with lowa Code Chapter 403, project details have been included to reflect current planned work, including the estimated costs of projects under the Plan as well as estimated project completion timelines. A consultation process was conducted with the affected taxing entities as required by Chapter 403.5 of the lowa Code. Prior to the meeting, the taxing entities were mailed copies of the Urban Renewal Plan and the Notice of Public Hearing. The required consultation to discuss, question, or object to the findings in these documents was held on November 15, 2018. There were no representatives from the taxing entities in attendance. The notice of public hearing was published on November 23, 2018 in accordance with publication requirements. RECOMMENDATION/ ACTION STEP I recommend that following the public hearing, the attached resolution adopting the Amended and Restated Urban Renewal Plan for the Peru Road Urban Renewal Area be approved to support reinvestment efforts in the District. Prepared by: Jill Connors,City of Dubuque, 50 W. 13th Street, Dubuque, IA 52001 (563)589-4393 Retum to: Kevin S. Fimstahl,City of Dubuque, 50 W. 13th Street, Dubuque, IA 52001 (563)589-4121 PERU ROAD AMENDED and RESTATED URBAN RENEWAL PLAN Peru Road Urban Renewal Area City of Dubuque, lowa This Amended and Restated Peru Road Urban Renewal Plan provides for the development of the Peru Road Urban Renewal Area. This Peru Road Urban Renewal Plan was originally established by Resolution 382-17 of the City Council of the City of Dubuque, lowa on December 4, 2017, and thereafter amended and restated by Resolution =18 on December 3, 2018. Prepared by the Economic Development Department. Version 2018.1 1 TABLE OFCONTENTS A. INTRODUCTION .................................................................................................. 3 B. DESCRIPTION OF THE URBAN RENEWAL AREA............................................ 3 C. AREA DESIGNATION .......................................................................................... 3 D. BASE VALUE ....................................................................................................... 3 E. DEVELOPMENTPLAN/ZONING ......................................................................... 3 F. PLAN OBJECTIVES............................................................................................. 4 G. TYPES OF RENEWALACTIVITIES..................................................................... 5 H. ELIGIBLE URBAN RENEWAL PROJECT(S)....................................................... 6 I. FINANCIAL DATA ................................................................................................ 7 J. URBAN RENEWAL FINANCING.......................................................................... 8 K. PROPERTY ACQUISITION/DISPOSITION.......................................................... 9 L. RELOCATION ...................................................................................................... 9 M. STATE AND LOCAL REQUIREMENTS............................................................... 9 N. URBAN RENEWAL PLAN AMENDMENTS ......................................................... 9 O. EFFECTIVE PERIOD........................................................................................... 9 P. SEVERABILITY CLAUSE................................................................................... 10 ATTACHMENTS A. URBAN RENEWAL AREA MAP............................................................................. B. LAND USE MAPS .................................................................................................. B-1 - Existing Land Use Map.................................................................................. B-2 - Proposed Land Use Map ............................................................................... C. LIST OF GENERAL OBLIGATION DEBT .............................................................. D. LEGAL DESCRIPTION OF AREA.......................................................................... 2 A. INTRODUCTION This Amended and Restated Peru Road Urban Renewal Plan ("Plan" or "Urban Renewal Plan") for the Peru Road Urban Renewal Area ("Area" or "Urban Renewal Area") has been developed to help local officials promote economic development and remediate blight in the City of Dubuque (the "City"). The primary goal of the Plan is to stimulate, through public involvement and commitment, private investment in new commercial and industrial development and blight remediation. 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 lowa, as amended. B. DESCRIPTION OF THE URBAN RENEWAL AREA The Urban Renewal Area is located entirely within the corporate limits of the City of Dubuque, lowa. The Urban Renewal Area is illustrated in Attachment A and described in Attachment D. The City reserves the right to modify the boundaries of the Urban Renewal Area at some future date. The property originally included in the Area by the original urban renewal plan is referred to as Subarea A. This Plan adds property to the Area to be referred to as Subarea B. Subarea A and Subarea B make up the whole of the Urban Renewal Area. C. AREA DESIGNATION With the adoption of this Plan, the City continues to designate this Urban Renewal Area as a mixed area for the remediation of blight and promotion of economic development (commercial and industrial). The City Council has determined that a need exists for redevelopment of the Urban Renewal Area in order to eliminate blight and enhance economic development activities. By Resolution No. 330-18 adopted November 5, 2018, the City Council declared that these factors have impaired the sound growth of the Urban Renewal Area. D. BASE VALUE If Subarea B is legally established, a Tax Increment Financing ("TIF") ordinance is adopted including Subarea B, and debt is certified for the Urban Renewal Area prior to December 1 , 2019, the taxable valuation within the portion of Subarea B included in the TIF Ordinance as of January 1 , 2018 will be considered the frozen "base valuation" for that portion of Subarea B. If debt is not certified in the Urban Renewal Area until a later date or if a TIF ordinance is not adopted until later, the "base value" will be the assessed value of the taxable property within the TIF ordinance area as of January 1 of the calendar year preceding the calendar year in which the City first certifies the amount of any debt on the Urban Renewal Area. 3 E. DEVELOPMENT PLAN/ZONING The City has a general plan for the physical development of the City as a whole outlined in the 2017 City of Dubuque Comprehensive Plan that was adopted by the City Council on September 18, 2017. The goals and objectives of this Plan, including the urban renewal projects, are in conformity with the City's Comprehensive Plan. In addition to the City's Comprehensive Plan, the planning criteria to be used to guide the physical development of the Urban Renewal Area are those standards and guidelines contained within the City of Dubuque's Unified Development Code and other applicable local, state and federal codes and ordinances. Land use maps (Attachments B-1 and B-2) identify the existing and proposed land uses with the Urban Renewal Area. This Plan does not in any way replace or modify the City's current land use planning or zoning regulation process. The need for improved traffic, public transportation, public utilities, recreational and community facilities, or other public improvements within the Urban Renewal Area is set forth in this Plan, as amended. As the Urban Renewal Area develops, the need for public infrastructure extensions and upgrades will be evaluated and planned for by the City. F. PLAN OBJECTIVES Renewal activities are designed to provide opportunities, incentives, and sites to promote new and existing economic development (commercial and industrial) and to promote blight remediation. More specific objectives for the development, redevelopment and rehabilitation within the Urban Renewal Area are as follows: 1 . To achieve a diversified, well-balanced economy providing a desirable standard of living, creating job opportunities, and strengthening the tax base. 2. To plan for and provide sufficient land for commercial and industrial development in a mannerthat is efficient from the standpoint of providing municipal seroices. 3. To provide for the installation of public works and facilities including, but not limited to, water, sanitary sewer and other public improvements, which contribute to the revitalization of the area and to the sound development of the entire City. 4. To eliminate blighting influences and promote revitalization. 5. To encourage commercial and industrial growth and expansion through governmental policies which make it economically feasible to do business. 6. To provide a more marketable and attractive investment climate through the use of various federal, state and local incentives. 4 7. To stimulate, through public action and commitment, private investment in new and existing commercial and/or industrial development. 8. To improve the conditions and opportunities for economic development (commercial and industrial) and blight remediation. 9. To help develop a sound economic base that will serve as the foundation for future growth and development. 10. To enhance the community by fostering an entrepreneurial climate, diversifying the local economy, encouraging opportunities for new businesses, and supporting retention of existing businesses. 11 . To provide for the matching share for a variety of local, state and federal grants and loans. 12. The deconstruction/demolition of a century old manufacturing facility in the Urban Renewal Area. G. TYPES OF RENEWAL ACTIVITIES To meet the objectives of this Plan and to encourage orderly development of the Urban Renewal Area, the City intends to utilize the powers conferred under Chapter 403 and Chapter 15A, Code of lowa. General development activities in the Urban Renewal Area 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 or repair of public infrastructure including but not limited to streets, curb and gutter, street lighting, water, sanitary sewer, public utilities or other facilities in connection with urban renewal projects. 3. To finance programs that will directly benefit blight remediation. 4. To make loans, forgivable loans, grants, tax rebate payments or other types of economic development grants or incentives to private persons, local development organizations, or businesses for economic development purposes on such terms as may be determined by the City Council. 5. To borrow money and to provide security therefor. 6. To acquire or dispose of property. The City does not intend to acquire any property with the Urban Renewal Area. However, the City reserves the right to 5 acquire, by negotiation or eminent domain, property rights required for the construction or reconstruction of streets and public utilities, or any other public facility or improvement. 7. To provide for the construction of specific site improvements such as grading and site preparation activities, access roads and parking, fencing, utility connections, and related activities. 8. To acquire property through a variety of ineans (purchase, lease, option, etc.) and to hold, clear, or prepare the property for redevelopment. 9. To undertake the demolition and clearance of existing development. 10. To make or have made surveys and plans necessary for the implementation of this Plan or specific urban renewal projects. 11 . To use any or all other powers granted by the Urban Renewal Act to remediate blight, develop and provide for improved economic conditions for the City. 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 15A, Chapter 403, Chapter 427B, or any other provision of the Code of lowa in furtherance of the objectives of this Plan. H. ELIGIBLE URBAN RENEWAL PROJECT(S) Although certain project activities may occur over a period of years, the eligible urban renewal projects under this Plan include: 1 . Public Improvements Estimated Estimated Cost Urban Renewal Project to be reimbursed Description Time by tax increment Rationale Period financin Deconstruction/demolition 2017 - $0 Deconstruction/demolition of a century-old 2021 (The City does of this facility will remove manufacturing facility not expect to one or more deteriorating campus generally known use tax structures, rectify as the Flexsteel site. increment potentially unsafe revenues for this conditions including project.) possible environmental remediation, and clean up deteriorating site im rovements. It is also 6 expected that the remediation efforts will prepare the site for future commercial and/or industrial economic develo ment activities. Modification of 2019 - $2,500,000 Review of old stormwater stormwater pump station 2022 pump station, and replacement or upgrade as needed for new site lan. Bike/hike trail 2020 — $300,000 Addition of trail access modifications 2023 and parking, as needed for new site lan. Total Not to exceed $2,800,000 Note: It may be that the above costs will be reduced by the application of state and/or federal grants or programs; cost-sharing agreements with other entities; or other available sources of funds. 2. Tax Rebate or other Development Aqreements a. Development Agreements: The City expects to consider requests for Development Agreements for projects that are consistent with this Plan, in the City's sole discretion. Such Development Agreements are unknown at this time, but based on past history, and dependent on development opportunities and climate, the City expects to consider a broad range of incentives as authorized by this Plan, including but not limited to land, loans, grants, tax rebates, infrastructure assistance and other incentives. The costs of such Development Agreements will not exceed $3,500,000. b. Development Agreement with Prairie Farms: The City anticipates entering into a development agreement with Prairie Farms for the development of a property in the Urban Renewal Area. Pursuant to the agreement, Prairie Farms would expand its current production facility and would agree to hire an additional ten (10) employees at the property. The City expects to support the project by providing semi-annual grants, pursuant to the detailed terms of the development agreement, which are not to exceed $420,000. 3. Planning, engineering fees (for urban renewal plans), attorney fees, other related costs to support urban renewal projects and planning. Pro�ect Date Estimated Cost Fees and costs Undetermined Not to exceed $50,000 7 4. Costs related to the planning and administration of this Plan consistent with the provisions of Section 403.6 and Section 403.12 including, but not limited to, staffing and personnel related expenses such as salary incurred by the economic development, engineering, water, and planning departments and other City personnel related to and supporting economic development and urban renewal projects within the Urban Renewal Area, in an amount not to exceed $50,000 annually. I. FINANCIAL DATA 1 . Current constitutional debt limit: $221 ,512,756 2. Current outstandin eneral obli ation debt: $121 ,994,100 3. Proposed amount of indebtedness to be incurred: A specific $6,820,000 amount of debt to be incurred for the Eligible Urban Renewal This total does Projects has not yet been determined. This document is for not include planning purposes only. The estimated project costs in this financing costs Plan are estimates only and will be incurred and spent over related to debt a number of years. In no event will the City's constitutional issuance, which debt limit be exceeded. The City Council will consider each will be incurred project proposal on a case-by-case basis to determine if it is over the life of in the City's best interest to participate before approving an the Urban urban renewal project or expense. It is further expected that Renewal Area. such indebtedness, including interest on the same, may be financed in whole or in part with tax increment revenues from the Urban Renewal Area. Subject to the foregoing, it is estimated that the cost of the Eligible Urban Renewal Projects as described above will be approximately as stated in the next column: J. URBAN RENEWAL FINANCING The City intends to utilize various financing tools such as those described below to successfully undertake the proposed urban renewal actions. The City has the statutory authority to use a variety of tools to finance physical improvements within the Urban Renewal Area. These include: 1 . Tax Increment Financing Under Section 403.19 of the lowa Code, urban renewal areas may utilize the tax increment financing mechanism to finance the costs of public improvements or economic development incentives associated with redevelopment projects. Upon creation of a tax increment district within the Urban Renewal Area, by ordinance, the assessment base is frozen and the amount of tax revenue available from taxes paid on the difference between the frozen base and the increased value, if any, is segregated into a separate fund for the use by the City to pay costs of the eligible urban renewal projects. The increased taxes generated by any new development, above the base value, are distributed to the taxing entities, if not requested by the City. a 2. General Obligation Bonds Under Division III of Chapter 384 and Chapter 403 of the lowa Code, the City has the authority to issue and sell general obligation bonds for specified essential and general corporate purposes, including the acquisition and construction of certain public improvements within the Urban Renewal Area or incentives for development consistent with this Plan. Such bonds are payable from the levy of unlimited ad valorem taxes on all the taxable property within the City. It may be the City will elect to abate some or all of the debt service on these bonds with incremental taxes from this Urban Renewal Area. The City may also determine to use tax increment financing to provide incentives such as cash grants, loans, tax rebates or other incentives to developers in connection with urban renewal projects for commercial or industrial development, blight remediation, redevelopment, or other urban renewal projects. In addition, the City may determine to issue general obligation bonds, tax increment revenue bonds or such other obligations, or loan agreements for the purpose of making loans or grants of public funds to private businesses located in the Urban Renewal Area. Alternatively, the City may determine to use available funds for making such loans or grants for urban renewal projects. In any event, the City may determine to use tax increment financing to reimburse the City for any obligations or advances. 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 15A, Chapter 403, Chapter 427B, or any other provision of the Code of lowa in furtherance of the objectives of this Plan. K. PROPERTY ACQUISITION/DISPOSITION If property acquisition/disposition by the City becomes necessary to accomplish the objectives of this Plan, such acquisition/disposition will be carried out, without limitation, in accordance with the Code of lowa. L. RELOCATION The City does not expect there to be any relocation required as part of the eligible 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 and developers in implementing this Plan and its supporting documents. N. URBAN RENEWAL PLAN AMENDMENTS 9 This Plan may be amended from time to time for a variety 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, to add or change urban renewal projects, or to amend property acquisition and disposition provisions. The City Council may amend this Plan in accordance with applicable state law. O. EFFECTIVE PERIOD This Plan will become effective upon its adoption by the City Council and will remain in effect as a Plan until it is repealed by the City Council. There is no statutory limitation on the collection oftax increment in this Urban Renewal Area because it is a mixed economic development and blight area. 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 lowa) by the City for activities carried out under the Urban Renewal Area shall be limited as deemed appropriate by the City Council and consistent with all applicable provisions of law. The division of revenues shall continue on the Urban Renewal Area, forthe maximum period allowed by law. P. SEVERABILITY CLAUSE If any part of the Plan is determined to be invalid or unconstitutional, such invalidity or unconstitutionality shall not affect the validity of the previously adopted Plan as a whole, or any part of the Plan not determined to be invalid or unconstitutional. 10 � �� ' � ��l �;�rll � l�l �l ; ' ,� �s '_>��I �. �1 �,r!.i ;��aJ Jr�ar� ;�,r� ,��al � i� �ri ,� � ,�� a � , � � � � . . • , ' �Y( � � ';� �---�_� � �` �'iM�` � +�" ' ,, '�! � t � ,� x:. 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City of Dubuque ATTACHMENT C Summary of Bontletl Intleb[etlness Date Average Vear M AmourR Principal Principal IrRerest Principal Description M Interest Final M Outstantling Due Due Outstantling Issue Rate Payment Issue 6/30H8 FV 2019 FV 2019 6/30H9 General Obligation Bontls �Essential Corporate Purposel Airport T-Hangars-Refuntletl-Sales Tax 20% 12-10-12 12193% 2020 405,365 122,000 60,000 1,956 62,000 Airport New Terminal Furnishings-Sales Tax 20% 11-17-14 3.3000% 2026 55,000 40,000 5,000 1,200 35,000 Airport ImprovemeMs Refuntling 0417-17 3.0000% 2030 282,200 265,000 18,100 7,950 246,900 AirportlmprovemeMs-PFC OF28-12 3.1972% 2032 2,145,000 1,670,000 100,000 52,778 1,570,000 AirportlmprovemeMs-SalesTax20% OF28-12 3.1972% 2032 90,000 40,000 10,000 885 30,000 AirporiTerminalUtilitylmprov-PFC 11-17-14 3.3000% 2034 690,000 600,000 30,000 19,256 570,000 Airport New Terminal RoatlsiParking Sales Tar 20'N 0404-16 2.7896% 2036 635,927 581,255 28,775 15,204 552,480 America'sRiverRefuntling-GenerelFuntl 0417-17 3.0000% 2021 1,984,100 1,518,600 489,100 45,558 1,029,500 America'sRiverRefuntling-GDTIF 0417-17 3.0000% 2021 1,255,000 960,000 315,000 28,800 645,000 Builtling-CorrfCeMerlmprov-SalesTar20% OF28-12 2.7903% 2022 60,200 34,400 8,600 1,032 25,800 Builtling 18ih Sireet Improv Sales Tax 20% 3/19/2018 3.0464% 2026 391,913 391,913 40,946 13,055.00 350,967.00 Builtling City Hall Brickwork-Sales Tax 20% OF28-12 2.7903% 2027 393,000 270,000 27,000 8,100 243,000 Builtling Smart Meters Refuntling 0417-17 3.0000% 2030 45,400 42,600 2,900 1,278 39,700 Builtling Fetlerel Builtling Roof-Sales Tax 20% 0404-16 2.7896% 2035 268,404 245,329 12,145 6,417 233,184 CivicCeMerlmprwemeMs-SalesTar20% OF28-12 2.7903% 2027 550,200 378,000 37,800 11,340 340,200 DICWExpansionNonTarable-Refuntling 04-04-16 2.9127% 2023 3,175,000 1,895,000 590,000 56,850 1,305,000 DICW Expansion-South Siegert Farm 3/19/2018 3.0464% 2026 239,534 239,534 25,026 7,979.00 214,508.00 DICW Norih Siegert Refuntling 0417-17 3.0000% 2029 1,285,000 1,195,000 90,000 35,850 1,105,000 DICWExpansion-Consultant 12-10-12 2.5337% 2032 151,462 122,798 7,431 3,013 115,367 DICW Expansion-South Siegert Farm-Taxable OF28-12 3.1972% 2032 3,975,000 3,100,000 185,000 97,960 2,915,000 DICW Expansion-South Siegert Farm-Nontaxable OF28-12 2.7903% 2032 425,000 335,000 20,000 10,362 315,000 DICWTaxable-LantlAcquisition 11-17-14 3.9900% 2034 1,640,000 1,370,000 65,000 48,925 1,305,000 E911 Tower Relocation-Sales Tar 20% OF28-12 2.7903% 2027 235,800 162,000 16,200 4,860 145,800 FireSYation7631mprwemeMs-Gaming OF28-12 2.7903% 2022 65,000 40,000 10,000 1,200 30,000 Fire AmbiBuiltling HVAGBunker IrrigationiPark 11-17-14 3.3000% 2025 715,000 515,000 70,000 15,450 445,000 FirePumper-Gaming OF28-12 2.7903% 2027 269,800 181,050 17,750 5,432 163,300 Fire Truck Refuntling-Debt Service Levy 0417-17 3.0000% 2030 951,500 893,600 60,900 26,808 832,700 Fire SYation#2iPark ImprovemeMs-Sales Tax 20'% 11-17-14 3.3000% 2034 320,000 275,000 15,000 8,825 260,000 FireAmbulanceReplacement 0417-17 3.0000% 2030 230,000 215,000 15,000 6,450 200,000 Frenchise Fee Settlement Jutlgment Bontl 0404-16 2.9326% 2035 2,830,000 2,580,000 135,000 70,306 2,445,000 GDTIF Main SYreet Refuntling 0417-17 3.0000% 2021 305,000 230,000 70,000 6,900 160,000 GDTIFKepharfsBuiltling-Refuntling 0404-16 2.9127% 2023 200,000 150,000 30,000 4,500 120,000 GDTIFLibreryRenovation-Refuntling 0404-16 2.9127% 2023 1,275,000 935,000 175,000 28,050 760,000 GDTIF Downtown Housing Refuntling 0417-17 3.0000% 2030 2,120,000 2,005,000 125,000 62,755 1,880,000 GDTIF Millwnrk Disirict Refuntling 04-17-17 3.0000% 2030 2,080,000 1,960,000 135,000 58,800 1,825,000 GDTIF7ihSYreet2-WayCorrversion 03-1512 2.7031% 2031 5,560,000 4,230,000 275,000 109,294 3,955,000 GDTIFIMermotlal 03-1512 2.5444% 2031 4,380,000 3,335,000 220,000 82,212 3,115,000 GDTIF 5ih SY ResiroomMlFC 12-10.12 2.5337% 2032 1,988,538 1,612,204 97,568 39,556 1,514,636 GDTIFMCIC/ADAAssist.iEcon.DevGreMs 12-10.12 1.7008% 2032 1,035,000 540,000 130,000 10,028 410,000 GDTIF Washington Neighborhootl Business InceMie OF28-12 3.1972% 2032 755,000 615,000 35,000 19,405 580,000 GDTIFIMermotlaVMillwnrkParking/CHI 11-17-14 3.9900% 2034 5,670,000 5,670,000 50,000 206,889 5,620,000 GDTIF Trenstl ROMiDT Loan Pool/ADA Assist 11-17-14 3.3000% 2034 190,000 190,000 10,000 6,125 180,000 Librerylmprovemenis-SalesTax20% OF28-12 2.7903% 2022 65,500 45,000 4,500 1,350 40,500 Librerylmprovemenis 12-10-12 2.4872% 2027 173,992 122,314 12,286 2,966 110,028 ParklmprwemeMs-Gaming 12-10-12 2.4872% 2022 209,050 109,150 20,350 2,211 88,800 Park ImprwemeMs Sales Tar 20% 12-10-12 2.4872% 2022 171,808 85,355 20,554 1,996 64,801 ParklmprwemeMs-SalesTar20% OF28-12 2.7903% 2027 65,500 45,000 4,500 1,350 40,500 ParkWaterS/stemStutlyRefuntling 0417-17 3.0000% 2030 60,000 56,400 3,800 1,692 52,600 Park Ham House-Sales Tax 20% 0404-16 2.7896% 2035 200,668 183,416 9,080 4,798 174,336 Parking Refnancetl Portions 5ih/3rtl StAA Ramps 12-10-12 12193% 2021 5,541,573 1,353,000 715,000 21,758 638,000 Parking Port of Dubuque Parking Ramp 3/19/2018 3.0464% 2026 373,553 373,553 39,028 12,443.00 334,525.00 Parking Cenirel Ave Ramp Refuntling 0417-17 3.0000% 2030 6,380,000 5,965,000 455,000 178,950 5,510,000 Parking lowa SYreet Ramp Improvemenis 0&01-11 3.3045% 2031 60,720 - - - - Parking lowa SYreet Ramp Improvemenis 3/19/2018 2.9050% 2031 45,516 45,516 2,830 1,369.59 42,686.00 Parking Locust Ramp Security Cameres OF28-12 2.7903% 2033 175,000 140,000 10,000 4,313 130,000 Parking ImprwemeMs 11-17-14 3.3000% 2034 185,000 160,000 10,000 5,087 150,000 ParkingRamplmprwemeMs-Taxable 11-17-14 3.9900% 2034 305,000 270,000 15,000 9,605 255,000 PoliceSoiiwareReplacemeM-Gaming 12-10-12 2.4872% 2022 355,950 185,850 34,650 3,764 151,200 Police CAD Soiiware-Gaming 11-17-14 3.3000% 2030 260,000 215,000 15,000 6,600 200,000 Public Works EquipmeM Sales Tar 30% 11-17-14 3.3000% 2022 305,000 180,000 45,000 5,400 135,000 Public Works Equip Refuntling 0417-17 3.0000% 2030 392,000 368,100 25,100 11,043 343,000 PublicWorks/Trenstl RatlioReplacement-FV18 Fulure 3.3000% 2038 200,000 196,305 7,573 6,416 188,732 PW Curb RamryEngineering SYreet Improv 11-17-14 3.3000% 2034 1,250,000 1,085,000 55,000 34,825 1,030,000 RecreationlmprwemeMs-SalesTar20% OF28-12 2.7903% 2022 9,800 5,600 1,400 168 4,200 RecreationlmprwemeMs-SalesTar20% 12-10-12 2.4872% 2027 14,924 10,678 1,010 260 9,668 Date Average Vear M AmourR Principal Principal IrRerest Principal Description M Interest Final M Outstantling Due Due Outstantling Issue Rate Payment Issue 6/30H8 FV 2019 FV 2019 6/30H9 SanitarylmprwemeMSRefuntling 0417-17 3.0000% 2030 660,000 625,000 45,000 18,750 580,000 SanitarySewerlmprovemeMs 3/19/2018 2.9050% 2031 1,030,009 1,030,009 64,036 30,994.00 965,973.00 SanitaryForcemainRepair 12-10-12 2.4872% 2032 655,239 508,291 31,316 12,817 476,975 SanitarySewerlmprovemeMs OF28-12 2.7903% 2033 1,560,000 1,230,000 70,000 38,045 1,160,000 SanitarySewerlmprovemeMs 11-17-14 3.3000% 2034 5,670,000 5,400,000 275,000 173,325 5,125,000 SanitarySewerlmprovemeMs 0404-16 2.7896% 2035 2,405,000 2,205,000 110,000 57,606 2,095,000 Solitl Waste Collection Refuntling 0417-17 3.0000% 2030 51,300 48,200 3,300 1,446 44,900 Solitl Waste Collection 3/192018 2.9050% 2031 27,447 27,447 1,706 825.00 25,741.00 SYormwater Refuntling 0404-16 2.9127% 2028 6,270,000 4,840,000 585,000 145,200 4,255,000 SYormwaterSalesTaxRevenue -GO OS19-14 32309% 2029 7,190,000 7,190,000 323,100 7,190,000 SYormwaterlmprovemenisRefuntling 0417-17 3.0000% 2030 2,015,000 1,895,000 135,000 56,850 1,760,000 SYormwaterlmprovemenis 3/19/2018 2.9050% 2031 1,714,542 1,714,542 106,594 51,592.00 1,607,948.00 SYormwaterlmprovemenis Ob15-12 2.7031% 2031 1,935,000 1,415,000 95,000 36,532 1,320,000 SYormwater 7ih SYreet SYorm ImprwemeMs 12-10-12 2.4872% 2032 134,342 104,213 6,421 2,628 97,792 SYormwaterlmprovemenis OF28-12 2.7903% 2033 405,000 320,000 20,000 9,900 300,000 SYreetligM ReplacemeM Refuntling-ST 0417-17 3.0000% 2030 4,900 4,600 300 138 4,300 SYreet FEMA Lantl Buyout-Gaming OF28-12 2.7903% 2027 110,200 73,950 7,250 2,218 66,700 SYreet Fiber/SitlewallvLigMs Refuntling RUT 0417-17 3.0000% 2030 258,600 242,900 16,500 7,287 226,400 SYreetSoulhwestArterial 3/192018 2.9050% 2031 771,557 771,557 47,968 23,217.00 723,589.00 SYreet Soulhwest Arterial-Sales Tar 30% 12-10-12 2.4872% 2032 1,280,545 999,459 57,627 24,757 941,832 WaterSystemlmprwemeMs 3/19/2018 2.9050% 2031 1,155,930 1,155,930 71,865 34,782.00 1,084,065.00 WaterSystemlmprwemeMs 12-10-12 2.4872% 2032 644,151 499,693 30,787 12,600 468,906 WaterSystemlmprwemeMs OF28-12 2.7903% 2033 1,840,000 1,450,000 85,000 44,850 1,365,000 WaterSystemlmprwemeMs 11-17-14 3.3000% 2034 9,195,000 9,195,000 470,000 295,131 8,725,000 WaterSystemlmprwemeMs 0404-16 2.7896% 2035 635,000 585,000 30,000 15,288 555,000 TotalGenualOWigationBonds 186,440,001 96,481,311 7,732,572 2,987,835 88,748,739 Tax Increment Port of Dubuque Parking Ramp(GDTIF) 10.16-07 7.5000% 2037 23,025,000 20,045,000 510,000 1,503,375 19,535,000 TotalTazlncrement8onds 23,025,000 20,045,000 510,000 1,503,375 19,535,000 40 Main(GDTIF) 0&06-09 2020 690,529 255,881 79,826 15,582 176,055 TotalTazlncreneMNotes 1,684,807 255,881 79,826 15,582 176,055 TotalTa:lncrement 24,709,807 20,300,881 589,826 1,518,957 19,711,055 Economic DevelopmerR TIF Rebate Aqreements Metlline (DICIM 11-19-07 Rebate 2019 1,600,279 173,038 173,038 - - Vanguartl (DICW) OF02-OB Rebate 2022 279,093 130,737 32,684 - 98,053 GiesePropertiesll (DICIM 07-17-06 Rebate 2019 41,261 4,438 4,438 - - Dubuque Screw (DICIM OF19-06 Rebate 2019 345,516 38,414 38,414 - - FaleyProperties(DICIM 02-07-11 Rebate 2022 904,638 420,243 105,061 - 315,182 GreenlntlusirialSuppN(DICIM OB-1S11 Rebate 2023 2,908,812 1,040,102 208,020 - 832,082 TrFState Qualtly Metals(DICW)NonAppropriation 03-17-14 Rebate 2026 32,510 43,503 43,503 - 43,503 Roasting Solulions(DICIM NonAppropriation 01-1416 Rebate 2028 33,666 33,666 33,666 - 33,666 HormelFootls (DICW)(100%2021/40%2026) 04-21-OB Rebate 2026 8,250,067 3,456,565 691,313 - 2,765,252 Hartig(GDTIF)60% 09-21-06 Rebate 2019 100,119 8,657 8,657 - - C&BSecurity(GDTI� 07-20.07 Rebate 2019 356,976 31,660 31,660 - - SYarBrewery(GDTIF) 07-17-06 Rebate 2020 1,223,307 146,060 73,030 - 73,030 IMerstate Builtling(GDTIF) 11-03-OB Rebate 2020 117,481 14,615 14,615 - - Victory Cafe 756 Main SL(GDTIF) OF21-10 Rebate 2022 87,053 24,945 6,236 - 18,709 Bow7ing&Beyontl Lease Buyoul(GDTIF) 10.15-12 Lease Buyoul 2032 1,000,000 700,000 50,000 - 650,000 Flexsteel(GDTI� 04-1&11 Rebate 2024 2,020,572 1,205,456 200,909 - 1,004,547 The Rose(Lake Ritlge) 09-2F11 Rebate 2024 136,014 94,855 15,809 - 79,046 Linseetl Oil(GDTI�MUItFRes 03-07-13 Rebate 2025 576,504 87,854 15,703 - 72,151 RousselM(GDTI�(NonAppropriation) 01-22-13 Rebate 2025 4,931 7,197 7,197 - 7,197 JulienHotel(GDTIF) 04-21-OB Rebate 2026 3,260,286 1,714,444 214,306 - 1,500,138 44 Main(GDTIF)Mutli-Res 10-1&10 Rebate 2027 446,799 197,110 24,962 - 172,148 BarkerFinancial(GDTI�MUItFRes OB-1F10 Rebate 2027 297,282 97,890 14,869 - 83,021 EngineHouse#1(GDTIF) OF06-11 Rebate 2027 171,166 89,505 9,945 - 79,560 253 Main SY.(GDTI�(NonAppropriation) 0406-15 Rebate 2027 5,798 2,673 2,673 - 2,605 Spahn antl Rose (GDTIF)(Non-Appropriation) 0421-14 Rebate 2027 108,221 108,221 108,221 - 108,221 FrenklinlrrvesimeM-Mutlires(GDTIF) 0404-11 Rebate 2028 437,225 260,225 33,643 - 226,582 Nottingham Properties Mutlires(GDTIF) Ob15-11 Rebate 2028 82,219 7 7 - - Plastic CeMer Betty Jane Block(GDTIF) 02-07-11 Rebate 2028 148,957 21,977 4,593 - 17,384 Caretico(GDTIF)Mutli-Res 03-21-11 Rebate 2028 1,499,442 1,086,407 123,354 - 963,053 Bonson 356 Main SL(GDTIF)Mutli-Res 12-1411 Rebate 2028 152,286 64,881 8,226 - 56,655 Roshek Builtling(GDTIF)(Non-Appropriation) 02-17-09 Rebate 2030 5,149,852 273,683 273,683 - 273,683 Novetly Iron Works(GDTIF)(NonApprop)Mutli-Res OF17-13 Rebate 2031 33,105 129,410 129,410 - 125,686 Date Average Vear M AmourR Principal Principal IrRerest Principal Description M Interest Final M Outstantling Due Due Outstantling Issue Rate Payment Issue 6/30H8 FV 2019 FV 2019 6/30H9 ConlonJohnson (TECF� 10.18-10 Rebate 2019 953,129 124,721 124,721 - - SYreka Johnson (TECH) 01-01-07 Rebate 2019 189,613 18,702 18,702 - - Rockfarm Holtlings(TECF�NonAppropriation 10.07-14 Rebate 2027 42,301 38,955 38,955 38,955 TotaITlFRebates 41,529,546 11,890,816 2,884,223 - 9,640,109 GenualFuntletlLeases Various Various On-going 194,160 155,000 155,000 Other Loans-Revenue Backetl IowaFinanceAuthortlyLoan-Caretico 12-01-10 3.0000% 2030 4,500,000 3,739,197 135,000 3,739,197 Tota101herLns-RevBacketl 4,830,000 3,739,197 135,000 3,739,197 Total City Intlebtetlners Subject to Debt Lirtit 257,703,514 132,567,205 11,206,621 4,641,792 121,994,100 StatutoryDebtLirtit $ 209,048,707 $ 221,512,756 %of Debt Lirtit Usetl 63.41% 55.07% Remaining Debt Capacity $ 76,981,502 $ 99,518,656 Attachment D Peru Road Urban Renewal Area Dated October 30, 2018 District Boundary Description of Proposed Subarea Subarea A of the Area shall include the following described properties: Lot 1 of Great Western Subdivision No. 1 , and also including the Public Right of Way of Jackson Street abutting thereto; and Lot 2 of Great Western Subdivision No. 1 ; and Lot 1 of Great Western Subdivision No. 4; and Lot 2 of Great Western Subdivision No. 2; and Lot 1 of Great Western Subdivision No. 2, and also including the Public Right of Way of Jackson Street abutting thereto. All in the City of Dubuque, lowa Subarea B of the Area shall include the following described properties: Commencing at the intersection of the southerly right of way line of East 32"a Street and the westerly right of way line of Jackson Street; thence southwesterly along the southerly right of way line of East 32"d Street to the intersection of the southerly right of way line of East 32"d Street and the westerly right of way line of Central Avenue; thence northwesterly along the westerly right of way line of Central Avenue to the intersection of the northerly right of way line of Aquin Street and its westerly extension; thence northeasterly along the northerly right of way line of Aquin Street to the intersection of the northerly right of way line of Aquin Street and the westerly right of way line of Jackson Street; thence southeasterly along the westerly right of way line of Jackson Street to the point of beginning. All in the City of Dubuque, lowa 1 � i , � MINUTES � � CONSULTATION WITH AFFECTED TAXING BODIES for the AMENDED AND RESTATED URBAN RENEWAL PLAN for the Peru Road Urban Renewal Area Thursday, November 15, 2018 at 8:30 a.m. ' City Hall, Conference Room B, Second Floor 50 W. 13t" Street Dubuque, lowa 52001 , Meeting comrnenced 8:30 a.m. No representatives from Dubuque County, the Dubuque Community School District, or Northeast lowa Community College elected to attend the meeting. Meeting was adjourned 8:45 a.m. �.�V`n--� Jill M. Connors Economic Development Project Coordinator, City of Dubuque � i i I � � � , Prepared Bv: Jill Connors, ED Citv of Dubuaue 50 W. 13'" St. Dubuaue, IA 52001 (563) 589-4393 Return To: Kevin Firnstahl, City Clerk City of Dubuque 50 W. 13'" St. Dubuque, IA 52001 (563) 589-4121 RESOLUTION NO. -18 APPROVING THE AMENDED AND RESTATED URBAN RENEWAL PLAN FOR THE PERU ROAD URBAN RENEWAL AREA Whereas, by Resolution 330-18 on November 5, 2018 the City Council ofthe City of Dubuque, lowa authorized the preparation of an Amended and Restated Urban Renewal Plan (the "Plan") for the Peru Road Urban Renewal Area (the "Area"); and Whereas, the proposed Plan for the Area has been prepared and placed on file for public inspection in the City Clerk's Office; and Whereas, the City Council of the City of Dubuque has determined that the creation of the Area will stimulate, through public involvement and commitment, blight mitigation and private investment in redevelopment activity; and Whereas, a consultation process has been undertaken with affected taxing entities in accordance with Chapter 403 of the Code of lowa with no written objections or recommended changes to the Plan received; and Whereas, the City Council, in accordance with Chapter 403 of the Code of lowa, has held a public hearing on the proposed Plan. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DUBUQUE, IOWA: Section 1 . That the Amended and Restated Urban Renewal Plan for the Peru Road Urban Renewal Area, on file in the City Clerk's Office and made reference to herein, is hereby approved; that a feasible method exists for the location of any families who will be displaced from the Area into decent, safe and sanitary dwelling accommodations within their means and without undue hardship to such families; and that the Plan conforms to the general plan of the City as a whole. The City does not currently anticipate the acquisition of any real property in connection with the land and projects included in the Plan. Section 2. That the Peru Road Urban Renewal Area is a mixed area for the remediation of blight and promotion of economic development (commercial and industrial) within the meaning of lowa Code Chapter 403; that such area is eligible for designation as an urban renewal area and otherwise meets all requisites underthe provisions of Chapter 403 of the Code of lowa; and that the rehabilitation, conservation, redevelopment, development, or a combination thereof, of such area is necessary in the interest of the public health, safety or welfare of the residents of this City. Section 3. That, notwithstanding any prior resolution, ordinance, plan, amendment or any other document, the Plan shall be in full force and effect from the date of this Resolution until the Council amends or repeals the Plan. Section 4. That the City Clerk of the City of Dubuque, lowa is hereby authorized and directed to file a certified copy of this Resolution in the office of the Dubuque County Auditor. Passed, approved and adopted this 3�d day of December, 2018. Roy D. Buol Mayor Attest: Kevin S. Firnstahl City Clerk STATE OF IOWA {SS: DUBUQUE COUNTY CERTIFICATION OF PUBLICATION I, Suzanne Pike, a Billing Clerk for Woodward Communications, Inc., an Iowa corporation, publisher of the Telegraph PIerald, a newspaper of general circulation published in the City of Dubuque, County of Dubuque and State of Iowa; hereby certify that the attached notice was published in said newspaper on the following dates: November 23, 2018, and for which the charge is $38.61 Subscribed to before me, a Notary Public in and for Dubuque County, Iowa, thisi99 day of)29-4440-,-,2-404.-) , 20/f . otary V blic in and for Dubuque ounty, Iowa. MARY K WESTERMEYER Commission Number 154885 My Oommisakn Exp. Feb. 1, 2020 OFFICIAL NOTICE PUBLIC'NOTICE is, hereby given that the :City Council of the City of Dubuque,+ Iowa will hold a public hearing ?;on the 3rd day of, De - 2 018, at 6:00 p.m.` 'in,, the • Historic,. ;.Federal , Building, ;City. Council Chambers „(Second Floor), ; 350 "_West 6th Street, Dubu- que,.•, Iowa at which, meeting>the City Coun- i cil will consider a; pro - ?posed Amended : and '.';',Restated Urban Renew- al Plan ('Plan') forthe Peru"=Road' Urban- Re _ newal Area ("District ). . TheYPlan if approved,., woultl add one new ad vjacent Subarea •to;the` istrk and provide up. dated�inform'ation on cermng the urban renewal` projects ,to be ungertalen in accdr kIth the P r,Council preur) ousIy "has jeurier :that the new Siibarea td be added to the District ' meets the definition' of an economic develop- ment area, as found, in 'Chapter 403 of the Iowa Code. The area to be added, referred to, as Subarea B of„,the District,` ;in- 'cludes,`-the properties detcribed'as follows: Commencing at the intersection of the slineoutherlyofEast right32nd of way Street and the westerly right of way line of Jackson Street; ” thence " south- westerly along the southerly right of way, line of East 32nd Street to the. -"intersection! -of the southerly right of Way line of, East 32nd Street and the westerly right of way line of 1 Central Avenue; thence northwesterly along the •rl way linewesteofhrCy entralright Avof- entre'"to the intersec tion of the northerly right of way line of Aquin Street and . its westerly - ;extension; thence northeasterly along the ' northerly wo1 Aqurightin'Street;ofay• to" thlineein tersection of " the northerly right of way I ine'of Aquin Street and the "westerly right of way line of Jackson Street; thence south- easterly along " the westerly right of way line of Jackson Street to the point/of"begin- ning. `All in "the City of Dubuque, Iowa At the meeting, the City Council' will re- ceive oral and written comments from any resowneridentof or property"City`to said 'above on. •Writ- temtheacomvme regard ing-the above public , hearing may be sub- mitted to the City Clerks `Office, 50 W. 13th, ,Street, oh or be ore'smentsaid tihifor thee of publipubc eacuring Copies of supporting o - is hearings 'are on file n the City Clerk's Of - ice and may be viewed uring normal' Working ours 'Any visual- or hear= ng -impaired persons eeding special assis ance,or persons with pecial accessibility Beds should contact, e City Clerk's Office t (563) 589-4100 or, TY (563) 690-6678 at' le th hours;` prior to e meeting. Published by order of e' City Council given the 5th day'of ovember 2018. Kevin S. Firnstahl, CMC, City Clerk 11/23 h h f d n t s n th ' a T • I th th on N It