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Grant Agreement - 441-443 Locust Street_Fischer Companies Copyrighted September 8, 2020 City of Dubuque Consent Items # 23. City Council Meeting ITEM TITLE: GrantAgreement-441-443 LocustStreet SUM MARY: City Manager recommending approval of a Downtown Rehabilitation GrantAward to The Fischer Companies c/o Tony Pfohl, to create two new market-rate housing units at 441-443 Locust. RESOLUTION Approving a Grant Agreement between the City of Dubuque, lowa and the Fischer Companies for the Redevelopment of 441-443 Locust Street. SUGGESTED Suggested Disposition: Receive and File;Adopt Resolution(s) DISPOSITION: ATTACHMENTS: Description Type 441-443 Locust Street GrantAward-MVM Memo City Manager Memo Staff Memo Staff Memo Grant Agreement Supporting Documentation Resolution Resolutions Dubuque THE CITY OF � ui-Aseria cih DuB E , . � . , � II � Maste iece on tj2e Mississi i zoo�•zoiz•zois YP pp zoi�*zoi9 TO: The Honorable Mayor and City Council Members FROM: Michael C. Van Milligen, City Manager SUBJECT: Proposed Downtown Rehabilitation Grant Award for 441-443 Locust Street DATE: September 1, 2020 Economic Development Director Jill Connors recommends City Council approval of a Downtown Rehabilitation Grant Award to The Fischer Companies c/o Tony Pfohl, to create two new market-rate housing units at 441-443 Locust. The grant award is for $20,000 for the Housing Incentive Grant. The Good Neighbor inquiry on this owner and property produced no issues. 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 Jill M. Connors, Economic Development Director Dubuque Economic Development Department THE CITY OF � 1300 Main Street ml-America 6ity Dubuque,lowa 52001-4763 �� "h�N",`��nz�'��:�:�� Office(563)589-4393 1 I �� TTY(563)690-6678 http://www.cityofd u bu q ue.org zoo�=zoiz*zo�� Masterpiece on the Mississippi �oi�*Zoi9 TO: Michael C. Van Milligen, City Manager FROM: Jill M. Connors, Economic Development Director SUBJECT: Proposed Downtown Rehabilitation Grant Award for 441-443 Locust Street DATE: August 27, 2020 INTRODUCTION This memo presents for your concurrence a project selected for a rehabilitation grant award for FY2021. BACKGROUND The Downtown Rehabilitation Loan Program provides for several incentives from the Economic Development Department for the rehabilitation of historic buildings in our greater downtown. This program has had a positive impact on the appearance and livability of our downtown, which leads to a more attractive business and residential environment. The Economic Development Department also finds these programs to be great tools for attracting and retaining a quality workforce for our businesses. DISCUSSION For this property, staff have perFormed a "Good Neighbor Inquiry" with Building Services, Engineering, Finance, Health, Housing, Legal, Planning, Police, Public Works, and Utility Billing for any concerns based on these or other properties owned by the applicant. Our staff have confirmed that funds are available in the Downtown Rehabilitation Loan Program for this project. 441-443 Locust Street Application received October 30, 2019 for the Housing Incentive Grant. The building owner, The Fischer Companies c/o Tony Pfohl, plan to create two (2) new market-rate housing units. Funding this Housing Incentive Grant would align with the City Council's goal of Creating Livable Neighborhoods and Housing: A Great Place to Live. The Good Neighbor Inquiry for this owner and property produced no issues. I recommend funding the Housing Incentive Grant at $20,000 maximum from CIP 3602438. BUDGETIMPACT CIP USE CURRENT RECOMMENDED REMAINING BALANCE PROJECT BALANCE FUNDING 2411942 FA�ADE, ETC. - - - 3602436 FA�ADE, ETC. $15,448 - $15,488 3602438 HOUSING $130,000 $20,000 $110,000 3602267 HOUSING - - - This takes into consideration all encumbrances and previous balances from our downtown rehabilitation CIP budgets. Funding this project reduces remaining FY2021 funds available in our department's downtown rehabilitation grant programs to those balances shown above. RECOMMENDATION/ ACTION STEP I recommend approval of the proposed grant award in the amount detailed above. 2 Prepared by: Jill Connors, Economic Development, 1300 Main Street, Dubuque IA 52001, 563 589-4393 Return to: Jill Connors, Economic Development, 1300 Main Street, Dubuque IA 52001, 563 589-4393 RESOLUTION NO. 268-20 APPROVING A GRANT AGREEMENT BETWEEN THE CITY OF DUBUQUE, IOWA AND THE FISCHER COMPANIES FOR THE REDEVELOPMENT OF 441-443 Locust STREET Whereas, The Fischer Companies has applied to the Economic Development Department for a Housing Incentive Grant (the Grant) for the creation of new housing units at 441-443 Locust in the City of Dubuque, Iowa (the Project); and Whereas, the Project is eligible for the Grant; and Whereas, it is the determination of the City Council that approval of the Grant Agreement for redevelopment of the Property by The Fischer Companies, according to the terms and conditions set out in the Grant Agreement, is in the public interest of the City of Dubuque. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DUBUQUE, IOWA THAT: Section 1. The Grant Agreement by and between the City of Dubuque and The Fischer Companies, a copy of which is attached hereto, is hereby approved. Section 2. The Mayor is hereby authorized and directed to execute the Grant Agreement on behalf of the City of Dubuque and the City Clerk is authorized and directed to attest to his signature. Section 3. The City Manager is authorized to take such actions as are necessary to comply with the terms of the Grant Agreement as herein approved. Passed annroved andnrinnt,nr! +hio Qth I.,....t C .1 L 1 uuvNLcu 1i no a uay uI QupLel l Iu 1 2020 LULU. Roy D. Buol, Mayor 083120ba1 GRANT AGREEMENT FOR THE DOWNTOWN REHABILITATION GRANT PROGRAM BETWEEN THE CITY OF DUBUQUE, IOWA AND THE FISCHER COMPANIES 2,7 THIS GRA7 T A RE MENT (the "Agreement"), dated for reference purposes the day o ,./A>"` , 2020, by and between the City of Dubuque, Iowa a municipality established pursuant to the Code of Iowa ("City") and acting under the authorization of Chapter 403 of the Code of Iowa (the "Urban Renewal Act") and The Fischer Companies ("Grant Recipient"). WHEREAS, in furtherance of the objectives of the Urban Renewal Act, City has undertaken a program for the development and redevelopment of an area in the city known as the Greater Downtown Urban Renewal District (the "District"), an urban renewal area established pursuant to the Urban Renewal Act, and in connection therewith has established the Downtown Rehabilitation Grant Program (the "Program"); and WHEREAS, Grant Recipient intends to complete the renovation and rehabilitation of a building located on property within the District locally known as 441-443 Locust Street, Dubuque, Iowa (the "Development Property"), which will include various improvements to the building, as more specifically detailed in Grant Recipient's application to the Program (the "Project"); and WHEREAS, Grant Recipient has applied for a Downtown Housing Incentive Grant for the Project from City under the Program for a grant not to exceed Twenty Thousand Dollars ($20,000) (the "Grant"); and WHEREAS, the City Council believes that the development of the Development Property pursuant to this Agreement and the fulfillment generally of this Agreement, are in the vital and best interests of City and in accord with the public purposes and provisions of the applicable state and local laws and requirements under which the Project has been undertaken and is being assisted. NOW THEREFORE, in consideration of the promises and obligations of the parties hereto, each of them does hereby covenant and agree with the other as follows: SECTION 1. MINIMUM IMPROVEMENTS. 1.1. Required Minimum Improvements. Grant Recipient shall improve the Development Property as follows: Create two market -rate rental residential units complying with the City of Dubuque Housing Rehabilitation Standards set out in Exhibit A (the "Minimum Improvements"). The Minimum Improvements shall be 083120ba1 completed in substantial conformity with the scope and scale described in Grant Recipient's Application to the Program attached hereto as Exhibit B. 1.2. Timing of Minimum Improvements. Grant Recipient shall begin construction of the Minimum Improvements by August 3, 2020 and complete construction of the Minimum Improvements by December 31, 2020. City shall determine in its sole discretion, following an inspection by City's Building Services Department and/or Planning Department, when the Minimum Improvements have been completed. In order to be considered completed. The Minimum Improvements must be constructed in accordance with the terms of this Agreement, in compliance with the regulations of the Program, and in substantial conformity with Grant Recipient's Application Design Letter. 1.3 Certificate of Completion. Promptly following the request of Grant Recipient and upon determination by the City Manager that the Minimum Improvements have been completed as required by this Agreement, the City Manager shall furnish Grant Recipient with a Certificate of Completion in recordable form which shall be a conclusive determination of the satisfaction and termination of the agreements and covenants in this Agreement. 1.4. Construction of Minimum Improvements. Grant Recipient shall complete all work with respect to construction of the Minimum Improvements in conformance with all requirements of the Program, this Agreement, and all federal, state, and local laws, ordinances, and regulations. 1.5. Insurance. (1) Developer shall provide and maintain or cause to be maintained at all times during the process of constructing the Minimum Improvements and at its sole cost and expense builder's risk insurance, written on a Completed Value Form in an amount equal to one hundred percent (100%) of the building (including Minimum Improvements) replacement value when construction is completed. Coverage shall include the "special perils" form and developer shall furnish City with proof of insurance in the form of a certificate of insurance. (2) Grant Recipient shall notify City immediately in the case of damage exceeding $50,000.00 in amount to, or destruction of, the Development Property or any portion thereof resulting from fire or other casualty. Net proceeds of any such insurance (Net Proceeds), shall be paid directly to Grant Recipient as its interests may appear, and Grant Recipient shall forthwith repair, reconstruct and restore the Development Property to substantially the same or an improved condition or value as it existed prior to the event causing such damage and, to the extent necessary to accomplish such repair, reconstruction and restoration, Grant Recipient shall apply the Net Proceeds of any insurance relating to such damage received by Grant Recipient to the payment or reimbursement of the costs thereof, subject, however, to the terms of any mortgage encumbering title to the Property, 2 as its interests may appear. Grant Recipient shall complete the repair, reconstruction and restoration of the Development Property whether or not the Net Proceeds of insurance received by Grant Recipient for such purposes are sufficient. SECTION 2. FURTHER COVENANTS OF GRANT RECIPIENT. 2.1. Operation of Development Property; Housing Vouchers. For and in consideration of the Grant offered under this Agreement, during the operation of the Development Property as a rental residential property, Grant Recipient shall accept, or cause to be accepted, applications from prospective tenants with housing vouchers issued under the U.S. HUD's Section 8 voucher program or a similar program who are otherwise qualified prospective tenants. Developer shall not deny any tenant a lease based on a public assistance source of income. A public assistance source of income means income and support derived from any tax supported federal, state or local funds, including, but not limited to, social security, supplemental security income, temporary assistance for needy families, family investment program, general relief, food stamps, and unemployment compensation, housing choice voucher subsidies and similar rent subsidy programs. This Section 4.2 shall survive the termination of this Agreement. If Developer, or Developer's successors or assigns violates the requirements of this Section 2.1 as determined by the City Manager in the City Manager's sole discretion after the termination of this Agreement, Developer or Developer's successors or assigns shall not be eligible for any City financial assistance programs. 2.2. Real Property Taxes. Grant Recipient shall pay or cause to be paid, when due, all real property taxes and assessments payable with respect to all and any parts of the Development Property. 2.3. No Other Exemptions. Until the Termination Date, Grant Recipient agrees not to apply for any state or local property tax exemptions, except for an application for urban revitalization tax abatement under Iowa Code Chapter 404 and 427, which are available with respect to the Development Property or the Minimum Improvements located thereon that may now be, or hereafter become, available under state law or city ordinance during the term of this Agreement. 2.4. Non -Discrimination. In carrying out the Project, Grant Recipient shall not discriminate against any employee or applicant for employment or tenant because of race, religion, color, sex, sexual orientation, gender identity, national origin, age, or disability. SECTION 3. DOWNTOWN REHABILITATION GRANT PROGRAM. 3.1. Downtown Housing Incentive Grant. City agrees to provide Grant Recipient a Grant in an amount equal to Ten Thousand Dollars ($10,000) for each apartment in the Project for which a Certificate of Completion from the City of Dubuque is issued, but not to exceed Twenty Thousand Dollars ($20,000). 3 3.2. Payment of the Grant. The Grant shall be payable as follows: (1) Any and all portions of the Grant shall be funded solely and only from available Program funds; (2) Prior to the release of any grant funds, (i) Grant Recipient shall have submitted documentation of its eligible expenses under the corresponding grant program, and (ii) City shall have issued a Certificate of Completion; and (3) The Grant funds shall be disbursed directly to Grant Recipient. SECTION 4. EVENTS OF DEFAULT; REMEDIES. 4.1. Events of Default Defined. Failure by Grant Recipient to substantially observe or perform any covenant, condition, obligation, or agreement on its part to be observed or performed under this Agreement shall be an "Event of Default." 4.2. Remedies on Default by Grant Recipient. Whenever any Event of Default occurs and is continuing, City, as specified below, may take any one or more of the following actions after the giving of written notice by City to Grant Recipient of the Event of Default, but only if the Event of Default has not been cured within thirty (30) days following such notice, or if the Event of Default cannot be cured within thirty (30) days and Grant Recipient does not provide assurances to City that the Event of Default will be cured as soon as reasonably possible thereafter: (1) City may suspend its performance under this Agreement, including suspension of the payment of any installment of the Grant to Grant Recipient, until it receives assurances from Grant Recipient deemed adequate by City, that Grant Recipient will cure its default and continue its performance under this Agreement; (2) City may terminate this Agreement; or (3) City may take any action, including legal, equitable, or administrative action, which may appear necessary or desirable to enforce performance and observance of any obligation, agreement, or covenant under this Agreement. 4.3. No Remedy Exclusive. No remedy herein conferred upon or reserved to City is intended to be exclusive of any other available remedy or remedies, but each and every such remedy shall be cumulative and shall be in addition to every other remedy given under this Agreement or now or hereafter existing at law or in equity or by statute. No delay or omission to exercise any right or power accruing upon any default shall impair any such right or power or shall be construed to be a waiver thereof, but any such right and power may be exercised from time to time and as often as may be deemed expedient. 4 4.4. No Implied Waiver. In the event any agreement contained in this Agreement should be breached by any party and thereafter waived by any other party, such waiver shall be limited to the particular breach so waived and shall not be deemed to waive any other concurrent, previous or subsequent breach hereunder. SECTION 5. MISCELLANEOUS. 5.1. Conflict of Interest. Grant Recipient represents and warrants that, to its best knowledge and belief after due inquiry, no officer or employee of City, or its designees or agents, nor any consultant or member of the governing body of City, and no other public official of City who exercises or has exercised any functions or responsibilities with respect to the Project during his or her tenure, or who is in a position to participate in a decision -making process or gain insider information with regard to the Project, has had or shall have any interest, direct or indirect, in any contract or subcontract, or the proceeds thereof, for work or services to be performed in connection with the Project, or in any activity, or benefit therefrom, which is part of the Project at any time during or after such person's tenure. 5.2. Grants, Notices, and Demands. A grant payment, notice, demand, or other communication under this Agreement by any party to the other shall be sufficiently given or delivered if it is dispatched by registered or certified mail, postage prepaid, return receipt requested, or delivered personally, and (1) In the case of Grant Recipient, is addressed and delivered personally to The Fischer Companies c/o Tony Pfohl, 290 Main Street, Dubuque, IA 52001; and (2) In the case of City, is addressed and delivered personally to the City of Dubuque at City Hall, 50 W. 13th Street, Dubuque, IA 52001; Attn: City Manager and City Attorney. or to such other designated individual or officer or to such other address as any party shall have furnished to the other in writing in accordance herewith. 5.3. Titles of Sections. Any titles of the several parts and Sections of this Agreement are inserted for convenience of reference only and shall be disregarded in construing or interpreting any of its provisions. 5.4. Definitions. All capitalized terms used herein shall have the meaning defined herein, unless a different meaning clearly appears from the context. 5.5. Counterparts. This Agreement may be executed in any number of counterparts, each of which shall constitute one and the same instrument. 5.6. Governing Law. This Agreement shall be governed and construed in accordance with the laws of the State of Iowa. 5 5.7. Amendment. This Agreement may not be amended except by a subsequent writing signed by the parties hereto. 5.8. Successors and Assigns. This Agreement is intended to and shall inure to the benefit of and be binding upon the parties hereto and their respective successors and assigns. 5.9. Termination Date. This Agreement shall terminate and be of no further force or effect upon issuance of the Certificate of Completion, unless the Agreement is terminated earlier by the other terms of this Agreement. 5.10. No Third -Party Beneficiaries. No rights or privileges of either party hereto shall inure to the benefit of any landowner, tenant, contractor, subcontractor, material supplier, or any other person or entity, and no such landowner, tenant, contractor, subcontractor, material supplier, or any other person or entity shall be deemed to be a third -party beneficiary of any of the provisions contained in this Agreement. 5.11. Indemnification. Grant Recipient hereby agrees to defend, indemnify, and hold harmless City against any claims made by Grant Recipient, or any third party relating to or arising out of this Agreement, including costs, expenses, or attorneys' fees. 5.12. No Assignment; Non -Transferability. Following the execution of this Agreement and until the Termination Date: (1) Grant Recipient represents and agrees that it will not transfer, convey or make any assignment of any of its rights or interests in the Development Property, Minimum Improvements, or this Agreement to any other party unless: (i) the transferee partnership, corporation, or individual assumes in writing all of the obligations of Grant Recipient under this Agreement, and (ii) City consents thereto in writing in advance thereof; and (2) Grant Recipient represents and agrees that it will not assign its rights or interests in this Agreement, including the Grant, to any other party unless City consents thereto in writing in advance thereof. CITY OF DUBUQUE, IOWA By: Roy D. f uol, Mayor ATTEST: Kevi S. Firnstahl, Ci y Cler THE FISCHER COMPANIES Tony Pfohl, -I d"'laNh 51,1 17ti fit--/r 6 EXHIBIT A CITY OF DUBUQUE HOUSING REHABILITATION STANDARDS Dubuque Housing and Community TxE ciTY oF � Development DT 7� � ��c� � Housing Rehabilitation Program �J �� 350 W. 6`h Street, Suite 312 Masterpiece on fhe Mzssissippi =oo�.=��=.=0,3 �o POR°Hs'r"r Dubuque, IA 52001 Office (563) 690-6094 � ' � � _ t = `� --. _ � CITY OF DU BUQU E HOUSING REHABILITATION STANDARDS � � � h Updated 2019 TABLE OF CONTENTS REHABILITATION STANDARDS 1. GENERAL Materials/Products Workmanship Manufacturers Warranties Qualified Staff, Inspectors, and Contractors 2. SITE WORK Landscaping 3. FOUNDATION Basements and Crawl Spaces, Moisture and Leaks 4. WOOD FRAMING Non-Formaldehyde Manufactured Wood Products Wall framing studs Wood Structural Components: Beams, Columns, Posts, Plywood Termite Treatment 5. EXTERIOR WALLS Exterior Sheathing Wall Insulation, Replacement Windows Exterior poors Door &Window Sealing Low-Maintenance Vinyl Siding Exterior Trim Exterior Paint, Stain, Varnish Masonry and Veneer Fiber Cement Board Siding Stucco 6. ROOF Roof Accessories, Roof Structure, Asphalt Shingles, Roof Sheathing Ice and water protection membrane Flashing Gutters and Downspouts Roof Repairs and Leaks 7. PLUMBING Plumbing Fixtures Water Heaters On Demand Water Heaters, Shower and Tub Drains 8. ELECTRICAL Outlets/Switches GFI Outlets Light Sockets 9. INTERIOR CLIMATE CONTROL/HVAC Furnaces, Thermostats Oil Storage Tanks Air Infiltration and Drafts 10. INTERIOR Interior poors Kitchen/Bath Cabinets Counter Tops Laminates Gypsum Wallboard Ceramic Tile Paint, Stain, and Varnish Non-toxic Paint Strippers Wallpaper and Vinyl Wall Coverings Lath and Plaster Interior Stairs 11. FLOOR FINISHES Subflooring, Carpeting, Wood Flooring Roll Vinyl and Resilient Tile Flooring Hard-surFace Flooring 12. MISCELLANEOUS Driveways and Sidewalks Exterior Wood Porches/Decks/Stairs: Concrete Stoops and Steps 13. ENVIRONMENTAL/HAZARDOUS MATERIALS Lead-based Paint Asbestos Radon Others APPENDENCIES: A. List of State and Local Building Codes INTRODUCTION The following standards are required for all Rehabilitation Projects, unless otherwise noted in the Rehab Scope of Work: All materials and fixtures used in Rehabilitation shall be of mid-line cost and quality. The Residential Rehabilitation Standards are not intended to reduce or circumvent the requirements of law and current applicable Building Codes/ IPMC code standards. All construction means, and methods shall be performed in compliance with Federal Occupational Safety and Health Agency (OSHA) regulations. Code violations, building & site defects that are health, safety and life threatening are priorities. RESIDENTIAL REHABILITATION STANDARDS Rehabilitation Standards Include: Federal Minimum Rehabilitation Standards: 24 CFR VIII, 882.109 Housing Quality Standards Written Trade, Manufacturer's Specifications, Standards, Recommendations and Installation Instructions All applicable Federal, State & Local code requirements. 1. GENERAL Materials/Products shall be new, in good condition, and of the grade required by the work write-up or specifications unless otherwise agreed to in writing. Materials damaged in shipment or prior to owner's acceptance shall be replaced at the contractor's expense. Deliver, store and handle products using means and methods that will prevent damage and deterioration from moisture, rain, dirt and other harmful influences including loss and theft. Workmanship shall be in accordance with the trades standards. City Rehab staff shall ensure that the mechanical execution of the rehabilitation work is performed in a manner consistent with principles of quality workmanship, the material manufacturer's installation instructions, and all codes that apply. Manufacturers warranties shall be in addition to the General Contractor warranty and do not relieve the Contractor of stipulated obligations or requirements. All work must be performed, installed in accordance to warranty stipulations, and the requirements for coverage. lowa Law requires that all Contractors warranty their work for 1 calendar year after the date of completion. Qualified Staff, Inspectors, and Contractors are the responsibility of The City of Dubuque Rehabilitation Staff. The City of Dubuque Rehabilitation Staff shall ensure that all persons involved in a rehabilitation project shall be qualified for their tasks. If the nature of the work requires personnel to be licensed or otherwise certified to perform the work, The City of Dubuque Rehabilitation Staff shall ensure that the personnel meet the requirements. All qualified Rehab Contractors shall be registered with Dunn and Bradstreet, and provide the registration number to Rehab Staff. Qualified Rehab Contractors MAY NOT be listed as under debarment on the SAM.GOV website. 2. EXTERIOR SITE WORK All proposed site work must keep water away from the building foundation. It must promote positive drainage away from the home and any neighboring structures. It must not create erosion, soil contamination or damage to the owner's property or neighboring properties. Any damage to the site or a neighboring site due to the performance of the specified site work must be repaired. Landscaping Plantings, trees, shrubs etc. that are a safety hazard shall be removed. Lawn areas affected by the removal shall be restored. 3, FOUNDATION Foundations must be stable. Footings shall be concrete, with waterproof concrete foundation walls and slabs, when required by state/local code for new construction, reconstruction and/or repair. Basements and Crawl Spaces Moisture and Leaks The source of water infiltration should be identified and corrected before repairs are completed. Roof water, clogged downspouts, landscape grading, insufficient foundation drainage, poor inadequate design etc. are all common causes of basement and crawl- space moisture. Repairs should improve health & safety in basement and crawl spaces. 4, WOOD FRAMING All existing structural components must be sound/stable and in serviceable condition for the expected useful life of the rehabilitation work to be performed (15 years). Unstable, cracked, leaning, buckling, and/or shifting exterior walls shall be restored as per code and are priorities. All wood studs, foundation posts, sills, girders and plates showing signs of rot, decay, and structural failure must be replaced. There should be no holes, separation, collapsing or severely deteriorating walls or siding materials. Non-Formaldehyde Manufactured Wood Products Due to concerns about post-installation formaldehyde emissions, wood products containing Urea Formaldehyde (UF) resin binders should not be used. Wall framing studs Interior and exterior- shall be installed on 12", 16" or 24" centers, or as required by structural conditions. Wood Structural Components: Beams, Columns, and Posts Check code requirements and use qualified professionals for documents and specifications for repairs, including replacements or adjustments to load bearing components. For major structural damage, a structural analysis must be completed by a licensed and insured structural engineer. Plywood Plywood shall be trademark stamped. Interior Always use interior grade plywood for interior work, as specified by manufacturers. Exterior Always use exterior grade plywood for exterior work as specified by manufacturers. Stru ctu ral/Construction Always use construction grade plywood for structural work. Construction grade plywood is stamped C-D or CDX. Termite Treatment Infestation shall be eliminated by treating in accordance with the requirements of a certified exterminator. Refer to the Exterminator's warranty for service or further damages after treatment. 5. EXTERIOR WALLS Exterior walls are to comply with all codes that apply. They need to be weather-tight, structurally sound, energy efficient and shall not permit entry of insects, water, snow or wind into the interior. Exterior Sheathing Sheathing shall be a nail-able wood product, with a minimum thickness of'/z". Air infiltration barriers, such as building paper, or house wrap designed to protect the wall from water moving past the exterior siding. shall be used at the exterior of the wall sheathing. (See 4 Plywood) Wall Insulation Installation of all insulation shall be performed with the utmost care, with the highest standard of professional workmanship, in strict compliance with manufacturer's specifications and installation instructions. Example: kraft-paper faced insulation shall be stapled as required, covering all gaps and penetrations in the wall cavity. Use plastic vapor barrier when required by code. Replacement Windows Use energy star rated, Low E-glass replacement windows that conform to all Building Code requirements, including those for safety glazing and emergency egress. The window installation and installers must also be as indicated by the manufacturer. Select replacement windows with a 10-year minimum warranty. When possible, use new construction windows with same rating. Exterior poors Remove and replace doors and frames that are warped, bowed or otherwise damaged. Manufacturer's warrantee must be a minimum of 5 years. Use energy star labeled door. Thresholds shall be sealed to the subfloor. Sides and tops of doors shall be provided with weather-stripping. All hardware shall be installed with the required screws, bolts, and fasteners as provided by the manufacturer and packaged with the hardware. Select only steel doors for exteriors. Always install exterior storm doors for additional thermal and moisture protection. All new unpainted entry doors must be painted with 2 coats, or to cover, whichever is required to complete the painting in a workmanlike manner. Door &Window Sealing The shim space between the framing for windows or doors (including attic access), rough openings, and the installed doors and windows shall be sealed with non-expanding spray foam sealant, closed cell foam backer rod, spray applied insulation, or other suitable insulations. Cellulose, fiberglass or rock wool batt insulation is not acceptable as an insulation, but can be used as a backing for a sealant (such as caulk). Thresholds for exterior doors shall be sealed to the subfloor. Low-Maintenance Vinyl Siding The City of Dubuque Rehabilitation Department requires use of"triple-3" vinyl siding unless otherwise specified in the scope of work. The City of Dubuque Rehabilitation Department Always uses SHPO (State Historical Preservation Office) guidance on deciding the profile shape of replacement vinyl siding. The System must accommodate positive drainage to exterior for moisture entering the panel system, or condensation within the panel system. Comply with manufacturers written installation instructions. There shall be a 20 Year material and labor warranty from the date of completion. Existing Vinyl Siding Repairs: Always check for hazardous materials. Locate and repair the cause of the siding damage. Repair in accordance with manufacturers standards. Check for warranty coverage. Exterior Trim Low-maintenance trim materials such as vinyl, cellular PVC, or pre-finished cement boards may be used. All exterior wood trim shall be solid wood free from knots, defects and warping. Exterior Paint, Stain, Varnish Low-VOC (Volatile Organic Compounds) paints, stains and varnishes use water as a carrier instead of petroleum- based solvents. As such, the levels of harmful emissions are lower than solvent-borne surface coatings. These certified coatings also contain no (or very low levels of) heavy metals and formaldehyde. Paint shall be delivered to the site in original containers labeled by the manufacturer, with seals unbroken. If the exterior is stained wood, the finish shall be a solid-body stain, not the transparent or semitransparent type. Exterior Siding: Apply 2 coats of solid-body stain over pre-primed siding. Exterior Trim: Apply 1 coat of primer, and 2 coats semi-gloss paint. Masonry and Veneer Repair, repaint, and clean all masonry and stone in compliance with Masonry Trade Standards and Brick Industry Association recommendations. Fiber Cement Board Siding For existing Fiber Cement siding, test for asbestos before repairs. (See appendix G Asbestos) Locate and repair cause of siding damage. Repair in accordance with manufacturer's instructions. Check for warranty coverage. Warranties can be up to 50 years. The City of Dubuque Rehabilitation Department Always uses SHPO (State Historical Preservation Office) guidance on deciding the profile shape of replacement siding. Stucco For Historic homes, use SHPO guidelines for repair. Locate and repair the cause of stucco damage. Use an experienced professional stucco repair person. Please note that there is Portland cement, as well as lime-based stucco. Repairs should be in accordance with stucco type. 6, ROOF - DO NOT USE metal roofing Problems such as evidence of severe deterioration (e.g. curled/cracked asphalt shingles, severely corroded metal or moss growth), missing, loose, ineffective, or inappropriate materials shall be corrected. Provide materials complying with governing regulations. Replace all roofing that is older than 15 years of age. Comply with published recommendations of shingle manufacturer details and Recommendations of NRCA Roofing Manual for installation of underlayment and shingles, using the correct number of nails and courses of shingles, in accordance with manufacturer's standards. Roof accessories Including valley flashing and flashing against walls, chimneys, stacks and pipes shall be watertight, durable, and free from excessive wear, obvious defects in materials, and workmanship. Roof Structure (see #4 Wood Framing) Asphalt Shingles Provide asphalt fiberglass shingles on sloped roofs Install Architectural, multi-tab, mineral surfaced, self-sealing, fiberglass asphalt shingles with a 30-year warranty. Install according to manufacturer's written instructions. If there are 2 or more layers of shingles, remove all before roofing again. Roof Sheathing (see #4 Structural Plywood) As per manufacturers specifications. Ice and water protection membrane Where roof slopes are less than a 4/12 pitch, and at all valleys, roof penetrations, eaves, intersections of walls and roofs, hips, and wherever else required by job conditions as per manufacturers recommendations. Flashing Provide pre-finished aluminum drip edge flashing at roof eaves and rakes, roof to Chimney/wall/skylight connections, and other horizontal roof material transitions, fastened with appropriate nails. Gutters and Downspouts Rain from the roof gutter system shall be directed via downspouts in a way that water is discharged away from the foundation. The minimum thickness for aluminum gutters shall be 0.032", and 0.027" for aluminum flashing material. Roof Repairs and Leaks Check all roof affected components including eaves and roof penetrations. Repairs should match existing roof surfaces and finishes. Locate and repair any interior damages caused by leaking roofs. 7. PLUMBING All service, distribution, return pipes, connectors, and accessories for fixtures, and heating systems shall function properly, shall not leak, and shall be properly insulated. Systems including sewers shall operate free of fouling and clogging, and not have cross connections, or back siphoning between fixtures. Waste lines shall be tied-in to an approved sewer system. Any part of the dwelling which must be changed or replaced shall be left in a safe structural condition in accordance with applicable codes. Plumbing Fixtures Equipment and material shall comply with and be installed in accordance with current plumbing code, manufacturers & trade specifications, standards. All vents protruding through the roof shall be properly flashed. Valves shall be provided at each fixture or each piece of equipment. Unions shall be provided to permit removal of equipment without cutting pipe Water Heaters Shall meet requirements of the State Code and have an Energy Star label. The type (gas or electric) and capacity will be given on the work write-up, or replacement will be with size and type required by number of bedrooms and baths. A 10- year minimum warranty is required. Water-heaters older than 10 years of age will be replaced with a minimum 40- gallon unit. Tankless/On Demand Water Heaters Use Energy Star-qualified tank-less water heaters to conserve heating time and energy use if practical. The device should have a variable-set thermostat and be appropriately sized. Shower and Tub Drain Plumbing penetrations shall be blocked with air-impermeable insulation and sealed at the edges with proper sealant. Rockwool, or equivalent products, shall not be used. 8. ELECTRICAL All electrical connections, service entrance, interior/exterior service/breaker boxes, shall be assessed prior to proposed electrical work. All nonfunctional outlets, light fixtures and switches must be inspected, corrected and or replaced. All potential fire and safety hazards must be addressed. Existing electrical wiring, fixtures and receptacles that are hazardous shall be repaired/replaced. Condition of existing wiring and equipment: Existing wiring and equipment shall be in proper operating condition; free of taped splices, loose connections, missing insulation, short circuits or unapproved grounds. Service conductors shall not be frayed, worn or bare. The changes being made to the house during rehabilitation must be considered when sizing the electrical system for upgrade/code compliance. Outlets/ Switches Cover plates must completely cover the hole in the wall and be of a matching style and color. Receptacles and switches must be flush with the cover plate and secured in the junction box. All 3-prong outlets shall have an attached ground wire that is connected at the ground buss in the electrical panel. GFCI Outlets All outlets near water sources must be GFCI (Ground Fault Circuit Interrupting) outlets. Electric outlets that are not in compliance with code requirements must be replaced. All GFCI outlets must be correctly wired per the Electrical Code and the manufacturers specifications. Light Sockets Replace all damaged, loose, improperly functioning light sockets. Inspect existing wiring and replace all damaged or frayed wiring. The socket trim and trim- ring, or escutcheon, must completely cover the hole. 9. INTERIOR CLIMATE CONTROL/ HVAC All furnaces 15 years or older will be replaced. Inspect for leaks, thermostat function, filters, structural soundness, deterioration, clearances, ventilation, corrosion etc. Check all boilers for safety devices. The distribution system shall be appropriate for the type of heating equipment to which it is connected. Install in accordance with manufacturer's printed installation instructions. The replacement heating equipment shall be a proper fit in size to any other existing portions of the system, i.e. fuel lines carrying the appropriate quantity, type, and pressure of fuel; air distribution and return systems carrying the appropriate cfm's to each location; air conditioning equipment rated to match the furnace; properly sized electrical circuits and equipment, etc. Where the other equipment is improperly sized to fit the new equipment, it shall also be replaced or modified so that there is a proper fit. Furnaces All furnaces must be rated at 90% or higher efficiency. All central air equipment attached to a furnace shall have a SEER rating (Seasonal Energy Efficiency Ratio) of no less than 14.5. Energy Star qualified furnaces shall have variable-speed blowers and programmable thermostats. All furnaces shall bear all applicable UL- listed and AGA- certified labels. For hot water systems, provide Energy Star certified boilers. Minimum furnace warranty must be 15 years under normal use and maintenance, all other components shall carry a 5-year warranty. Thermostats Provide all heating/cooling systems with Energy Star qualified programmable thermostats. Dwelling thermostats shall be placed on an interior wall, at 48" above the finished floor, away from the direct flow of forced air and drafts. Oil Storage Tanks If a heating system is being replaced or repaired, then the oil tanks must be inspected for proper operation, and to ensure that there are no leaks. Contact a licensed HVAC expert. Air Infiltration and Drafts Heating work, and new system/furnace installation for homes must include weatherization, draft, and heat loss improvements. 10. INTERIOR Smoke Detectors All residential dwellings must have smoke detectors properly placed and installed. Use only new Dual-Sensor smoke alarms. Install per the directions of the included handout on smoke alarm placement. Carbon Monoxide Detectors All residential dwellings must have carbon monoxide detectors properly placed and installed. Interior poors Repairs can be attempted on minor cracks and punctures only; otherwise, new pre-hung doors will be installed. Door finish to match existing dwelling doors. Kitchen/ Bath Cabinets Unsafe, unsanitary, or nonfunctioning cabinetry shall be replaced. Verify access and clearance required for the installation of each cabinet. At all cabinet locations, coordinate the installation of convenience outlets, equipment, lighting fixtures, plumbing, and HVAC vents, etc. Installation must be plumb, level and true. Install any required blocking in the walls to receive fasteners. Field verify all dimensions and clearances and minimize filler pieces at the ends of cabinet runs. Install materials in accordance with manufacturer's instructions and approved submittals. Install materials in proper relation with adjacent construction and with uniform appearance. Anchor securely in place, and coordinate with countertop installation. Adjust and lubricate hardware. Restore damaged finishes and test for proper operation. Always install knobs and pull on all drawers and cabinet doors unless these fixtures have them built in. Counter Tops Countertops showing evidence of wear, water damage, uplifting surface materials etc. should be replaced. Counter tops shall not have sharp exposed corners. Corners protruding more than 1-1/2" shall be rounded or chamfered. Use only high-definition laminate countertops. Laminates Shelf, cabinet and countertop substrate material for plastic laminate shall be exterior- type, hardwood-faced plywood, or other material approved by the manufacturer of the plastic laminate. Cut-out edges shall be sealed prior to the installation of sinks. Protect walls with back and side splashes: 4" minimum at bathroom vanity tops and 6" minimum at kitchen countertops. Use only high-definition laminate countertops. Gypsum Wallboard (Drywall) The cause of warped, damaged, discolored (water) or deteriorating ceilings and walls must be determined before the wall or ceiling is repaired. The problem that caused the wall or ceiling damage must be repaired to ensure the problem doesn't reoccur in the same area or causes problems in another area of the wall, ceiling or dwelling. Gypsum board panels should be manufactured in the United States and labeled "made in the U.S.A." with the manufacturers name and manufacturing site location, shall be provided. Ceiling Use 1/2" (min) gypsum wall board or manufacturer's recommendations shall be followed in specifying ceiling drywall adequate for supporting the weight of specified attic insulation. Interior Partitions Use 1/2" (min.) gypsum wall board on all interior partitions unless otherwise required Wet/Moisture areas Use 1/2" (min.) mold-resistant gypsum wall board, at bathrooms, kitchens, and wherever wall tile is indicated (except within tub or shower enclosures). Exterior Walls Use 1/2" (min.) gypsum sheathing board panels at exterior walls and ceilings where required, surfaced with water-repellant paper on front, back, and long edges. Ceramic Tile Repairs to ceramic tile on wall and floor finish comply with manufacturer's instructions and recommendations. Paint, Stain, and Varnish Low-VOC water-based paints, stains, varnishes, and other wood finishes use water as a carrier instead of petroleum-based solvents. As such, the levels of harmful emissions are lower than solvent-borne surface coatings. These certified coatings also contain no heavy metals or formaldehyde Paint shall be delivered to the site in original containers, labeled by the manufacturer, with seals unbroken. Interior Partitions &Walls Apply 1 coat primer, and 2 coats satin or eggshell latex paint. Interior Ceilings Apply 1 coat primer, and 2 coats flat latex paint. Interior Trim/Painted Woodwork Apply 1 coat primer, and 2 coats semi-gloss latex paint. Lathe and Plaster Locate and repair the cause of the damage. Repairs should be done by a contractor with lathe and plaster experience. Interior Stairs See #4 Wood Framing 11. FLOOR FINISHES Damaged, or deteriorating floors shall be repaired or replaced. Subflooring Shall be according to finish flooring manufacturers specifications. Interior floor sheathing shall be 1/8" (min.) thick. (See #4 Plywood) Carpeting Do not install carpets in basements, entryways, laundry rooms, bathrooms or kitchens. All carpet and pad shall be shall be certified low-VOC. Wood Flooring Floors with splits, cracks, holes, deterioration, warped planks shall be replaced. Replacement planks to match existing as closely as possible. Any holes in wood floors that are being refinished must be filled with matching wood. Roll Vinyl and Resilient Tile Flooring Resilient flooring or vinyl tile is acceptable for use in kitchens, bathrooms, laundry areas (except in basements) and storage rooms. Resilient flooring shall have a minimum thickness of 10 mils. Wall base trim shall be used in all habitable spaces. Hard Surface Flooring (ceramic tile, etc.) All repairs are to be in accordance with industry trade standards. All products must be mid-grade in cost and quality. 12. MISCELLANEOUS Driveways and Sidewalks Drives, walks shall comply with local Planning and Zoning requirements, state code. Paved surfaces adjacent to the foundation shall not slope towards the structure. Repair of paved surfaces shall be minimal in cost and incidental to the rehabilitation of the dwelling. Exterior wood Porches/Decks/Stairs All unsafe or unsound porches and stairs should be replaced with treated wood and treated/painted/ with a finish coat to protect from deterioration by weather. Concrete Stoops and Steps Repair damaged, deteriorating, broken, chipped stoops and stairs. For removal & repair, follow industry standards and guidelines. New stairs and stoops shall be in compliance with building codes. Provide all applicable handrails and railings. Doorbells Install doorbells on all Rehab jobs. Address numbers Install address number plates on the house prior to completion of rehab work. Must be highly visible from the street per fire code. Mailboxes Install a U.S. Mail Service -approved Mailbox in a highly visible area on the exterior of the house prior to completion of rehab work. 13. ENVIRONMENTAL/HAZARDOUS MATERIALS The Housing Rehabilitation Program, must comply with federal environmental review regulations [24 CFR Part 58 - Environmental Review Procedures for Entities Assuming HUD Environmental Responsibilities] established by the National Environmental Policy Act of 1969 (NEPA). Lead-based Paint (See attached lead paint pamphlet) Current Federal, State & Local Laws & Regulations shall be adhered to in dealing with Lead Based Paint. Asbestos Current Federal, State & Local Laws & Regulations shall be adhered to, Including: U.S. Environmental Protection Agency regulations & forms 2. State of lowa (IOSH) Services Regulations Standards For Asbestos Abatement Radon If property is in a radon prone area test and comply with all current U.S. Environmental Protection Agency guidelines. Radon testing will be required on all Rehabilitation projects. All Radon reading results in excess of 4 picocuries per liter (pCi/L) are considered to be a high level for Radon Gas and must be dealt with using a Radon mitigation system. A Radon mitigation system will be included in the Rehab scope of work if the results of testing exceed 4 pCi/L. Residential Rehabilitation Standards Appendix A Current Codes and Conditions Current Adopted Codes- Copies are available for viewing at the Carnegie-Stout Public Library ,360 W 11th St, Dubuque, IA 52001, 563-589-4225 -2015 International Property Maintenance Code (IPMC) -2015 International Residential Code (IRC) - 2015 International Existing Building Code (IEBC) -2017 International Plumbing Code (IPC) -2017 International Mechanical Code (IMC) -2015 International Fuel Gas Code (IFGC) -2017 National Electrical Code (NEC) EXHIBIT B GRANT APPLICATION Dubuque Economic Uevelopment Departmer THE CTTY OF � 50 wesi �3'"street T .UFAmHupry Dubuque,[owa 5?001-d864 D�T) J� Office(%3)SR9-4393 i j ��' I I � � TTY(563)690-6678 http:/hvww.ci[yufdu6uqu e.a ro Masterpiece on the Mississippi z°°'�Z°lz 2013�2017 City of Dubuque, lowa Downtown Housing Incentive APPLICATION Applications for funding through the City of Dubuque's Downtown Housing Incentive will be accepted by the Economic Development Department,50 West 13th Street, Dubuque, fowa(563)569-4393. Applications will be reviewed by the Department on a case by case basis with qualifying projects being submitted to the City Council for final review and approval. Depending on the application and scope of the prqect, all attachments may not be required. Address of Project: 441-443 Locust St, Dubuque, IA 52001 Name of Project (if different from address): CONTACT INFORMATION Name: Tony Pfohl Address: 290 Main St, Dubuque, IA 52001 Company: The Fischer Companies Telephone: Fax: E-mail: Date of birth: Is proof of buiiding ownership attached? Yes � No ❑ Please include as Attachment A. lf no, reason for not providing proof of buifding ownership? Page 1 of 7 DOWNTOWN HOUSING ASSISTANCE APPLICATION If the owner is a for-profit or non-profit organization, is a Resolution adopted by the Board of Directors which authorizes both the project and the application attached with the Minutes of the Meeting when it was adopted7 P/ease aitach as Attachment 8. Yes � No ❑ N/AO Number of housing units created that are greater than 650 Square Feet(In general, two (2) through seventy-�ve(75) units are eligible. Rehabilifated housing units that have been vacant for over three years are considered new units.J: Two Number of improved housing units. Amount of assistance needed (no more than $10,000 pe�unit is eliqible): $ 70,000 per unit Are there additional benefits to the city greater than the creation of�ew housing?(/f addidonal space is needed, p/ease include as Attachment C.) The project would be a full rehabilitation of a highly visible property in a high profile location across from Five Flags. As Dubuque looks at investment in Five Flags, it is important that investment is also made by the private sector in neighboring properties. The property has been vacant for almost 15 years Project Description: (lf additional space is needed, piease attach descripfion as Attachment D.) This long vacant property would undergo a complete rehabilitation resulting in the creation of Two 2 Bedroom/2Bath mazket rate units. Each apartment would be approximately 1200 sf and have its o�vn high efficiency HVAC system, washer/dryer, and off-street parking. The project would also include repairs to the front porch, brick tuckpointing, window repairs, roof repairs, And improved landscaping. Estimated Start Date: December 1, 2019 Estimated 25% Completion Date: January 15, 2019 Estimated Completion Date: _May 1, 2020 Page 2 of 7 DOWNTOWN HOUSING ASSISTANCE APPLICATION In what subarea of the Greater powntown Urban Renewal District is the proposed project located? Please see the map on the back of the application for details. (Projecis in fhe Washingion Neighborhood mus! be located above a commercial component on the frst floor oi the building, unless the project is rehabilitating or reusing a former church or school.J Old Main Sub Area Is the project rehabilitation of an existing structure? Yes � No ❑ Will this project be utilizing Federal or State Historic Tax Credits? Yes ❑ Na � Has applicant discussed details of this project with the City of Dubuque Planning Department aad has been made aware of yes ❑ No � the City's design review guidelines at http://cityofd ubuque.orpl1295/Desiq n-Gu idelines? lf yes, with whom? But owner is very aware of the guidelines due to experience with other pf012CtS. Does applicant own or have ownership interest in other Yes No properties in Dubuque? � � (If yes,please list addresses. If additional space is needed please attach as Attachment E.) 200 Main St, 290 Main St. 305 Locust, 341 Locust. 383 Locust, 401 Locust, 421 Locust, 467 Bluff, 408 W. 5'", 426, W 5'", 444 W. 5'", 880 Locust, 909 Main, 951 Main, 955 Main, 965 Main, 1200 Main and others Page 3 of 7 DOWNTOWN HOUSING ASSISTANCE APPLICATION Do the above properties comply with ali applicable City of Dubuque ordinances and regulations, including but not limited to, housing, building, zoning,fire, health and vacant and abandoned building regulations. Yes � No ❑ Do existing signs on the project property comply with City Zoning regulations and design guidelines? Yes ❑ No ❑ N/A � If the above answer is no, or the applicant is proposing new siqns, please describe the design materials and co/ors that will 6e used on the sign face, how the sign will be displayed, and any lighfing proposed. If additional space is needed place attach as Attachment F. Are detailed drawings showing dimensions, architectural details, and labels, attached to the application? Please attach Yes ❑ No �. as Attachmenf G. See Attachment I Is a 10 year pro forma attached (as Atfachmenf H1? Yes � No ❑ Will �esidential units have any income restrictions? Yes ❑ No � How many residential units will have income restrictions? (No more than 65% of the renfa/units can have a restriction of 80% median income.) N/A What is the percentage of the average median income on the income restricted apartment? (No residential units will be a!/owed to have a restriction of less than 80% median income.) N/A Is a Floor plan for alt units attached (as Attachment ll? Yes � No ❑ Does the pro forma show a developer's fee? Yes ❑ No � If yes, over what period of time will this fee be paid? Page 4 of 7 I DOWNTOWN HOUSING ASSISTANCE APPLICATION Does the project have bank financing? Yes ❑ No � If yes, what financial institution? Project will be self-financed Attach Letter of Commitment from financial insiifution. Siqnafure Date A fully completed application with attachments and exhibits must be submitted in the office of the City of Dubuque's Economic Development Department, 50 W. 13th Street, Dubuque, lowa 52001. Page 5 of 7 I DOWNTOWN HOUSING ASSISTANCE APPLICATION , Certification 1, L. Anthonv Pfohl certify that I own or have some ownership in the following list of properties in the City of Dubuque: Addresses (Please stafe "None"if Owner does not own other propeRies in Dubuque) 200 Main, 290 Main, 305 Locust, 341 Locust, 383 Locust, 401 Locust, 421 Locust, 467 Bluff, 408 W. 5�h, 426-428 W. 5�h, 444 W. 5'h, 880 Locust, 909 Main, 951 Main, 965 Main, 1200 Main, 675 Main, 698 Central, and others As the Owner of 441-443 Locust Street , I (Address of Project) certify that, TO MY KNOWLEDGE, all property in the City of Dubuque which I own or in which I have any interest, other than the Project, complies with all applicable City of Dubuque ordinances and regulations, inciuding, but not limited to, housing, building, zoning, fire, health, and vacant and abandoned building regulations. I further depose that the signature below is my own proper signature. ..�"c`"-�..� .� _ / l Date: U ?U �` "�" Signature Subscribed and sworn to before me on This,�� day of (�fii6�ur , 20�9 (Notary Public) County My commfssiqn�pUr��s�gq�nE NOiARY PUBLIC-S7AfE OF NEW VORIf No. OlBU6126�VJ Cuallftetl In KIn9s Counfy My Commission Explre7 June I7, 2U2-� r , '��L`"�` Page 6 of 7 � DOWNTOWN HOUSING ASSISTANCE APPLICATION .e- — . �= '�. .3 1 r"'.'%�' �i �{, ` fl+T � ik • _ ` . R E ^� 4 � _ '� �V' n�� ' ' v�.- � �¢ s 'F'—. � i . : � A �,F'#�,n ^� ♦_�i ��t � \ ' �.�'''�,.��'� ."�! � , t"t{t�y . ._ ` : ��ir. � �� ' ,.,. ,1 .'��f:JiK� � r �4..c,�' �, '�� ' f �� t'� �� y�: '�� ..�y. 't �ti �'�. . y �'1n`�� . . . �� r �f� � '� � s � zi;i . Y yw' -,..f'y �? � s x��. � ��i��:��r.��.��'TJ� �g* x��j�t�� :�. ` ''�w r��,�.4,�..'�+m.f, � �yt ,�t�:.9�.5 �x<;11a�! ��+� ,�t `� ; / j : � � ��t ��)�� y�� - �- - . !.f ♦ ��Y�' . , e � ~ �� `��r� ��E�r��`�� , �a . �, h,,,a ,,,. ,� r F r f 1' ,� �Jy��Y /f � I I � x' 'W .�T � ,rt — �. :!l1;4" i j i3+t�: "��;, � 1 ;i ti 't • f'p ; �I� � • ti t ° �Y �+ ��j � �5 +`i � e g3af; ttlt ' �[Ei ; R] � � {� �'e��3••� � F7 �6ts! T_siz �hi �..� bitif332�� 23 �;I�� i:� i�� . u i i� � � �iir.._ �I; Page 7 of 7 Attachment A t',�Beacon� Dubuque County,IA .�� ,� P,vicel fleqrt G i4p �Z � � ,aSummary � w�io iozsziao�a ' '� �utmu�eio wsroaicoisraia �, n.ave�y,+mrcss a�incusrsr � � ouaudue�a;rooa - , SedTwWWy N/A '., Bei�TUDvcdplbn i19'6'.N39'.CIttLm10J . i:�e�mo.aYoaw�_ .Z,..,�vmG.�. • OeeE aookveae �� CmNRBooY/Pege GosAaa 000 . NetAue 000 - C4bs M�MuIHRlsiCm[ill ' wo�a m�s:s ror ux�uey��ony-�ua�m ee usee mrvnaql '. �4bit DUBA-0GBUQIIECIN.�DBQCOMMXN ��. S1betObtrict Ol1BUQ�ECQNM.iCHOOlDIST i aOwners Dtt�Nddc CmtreRlblda M�iN�A Nros iliS�CCM[f�IM %3NCltllMlft . EPoMainSt 290Maink � DUW4ueIPi?�1 DupuquelAi3001 t;�BeaconM Dubuque County,IA a�a�� '! raru�acWrt L �w # 3 � � � I ��,aSummary � Per¢IID 1033:�011 � - ! . ._.. \ I utema:e�D nisma:co�sra:cr FropNtyA6'Irtu �wiLCCU5i4 1 ' OUBUQUEini2C0: ' . Sec�hrP��9 WA � j -� - . BriefTUCewip(qn Vli'd'-N39'-CiT'/'Ai:0i . r "�1=� v<: �.. oa ia0^n. . .i ns oeMBoaN/nee� � GmkMBoaWPag i � � � � � �' GrossAaa n.:h ]� i� � � Ne[Pue JU Clm >e-Nmt�Residembi �. .:,i. rn�:��: �r000-,,,r;... , Oi�trict JVBA�DUBUQUECIiWCB(�COmMiCN Xtwd�ii(nCi 9p9CQUECDMmiCHpOWIST Owners ;_� . .. ca�vxtrwmv mddrnaMd,ea .... da0.�ginit a _.o_.•_ - . � . OacuP�fiha2Ml Attachment B UNANIMOUS WRITTEN CONSENT OF THE BOARD OF DIRECTORS OF PLA5TIC CI?tiT1:R. INC The undersigned, being representatives of the members of the Board of Directors of Plastic Center, Inc., a New York corporation (the °Corporation"), hereby consent to and adopt, effective immediately, the following recitals and resolutions by unanimous consent: RESOLVED, that each member of the Board of Directors hereby approves and authorizes the Corporation to undertake the proposed rehabilitation project at 441-443 Locust St in Dubuque, IA, subject to thz approval from the City of Dubuque for Corporation's Application for the Downtown Housing Incentive Program. FURTHER RESOLVED, that the Managing Director of the Corporation, L. Anthony Pfohl, hereby is, authorized and empowered to take all such further action and to execute, deliver and file all such further agteements, certificates, instruments and documents, in the name and on behalf of the Corporation, and if requested or required, to pay or cause to be paid al1 expenses; to take all such other actions as they or any one of them shall deem necessary, desirable, advisable or appropriate to carry out the full intent and purposes of the forgoina resolution. FURTHER RESOLVED, that the above resolutions are effective immediately. IN WITNESS WHEREOF, the undersigned have executed this Written Consent, effective as of October 1, 2019. -�- =' C ' � Paula Kirby � �—�� — � Leonard �G1. Quigley r 70/30I2019 hUps:/kiww.calculatorneUrental-property-calcidalor.hlml?cprice=35000&cuseloan=noRcdownpaymen(=03cinleresl=3.5Sdoanterm=30... Rental Property Calculator �esult _ � ----- --- For the 10 Years Invested First Year Income and Expense IReturn (IRR): 5.20% per Monthly Annual I year Income: $1,900.00 $22,800.00 �Total Profit when Sold: $162,883.29 vacancy (7%): $133.00 $1,596.00 Cash on Cash Return: 52.54% Property Tax: $416.67 $5,000.00 Purchase Capitalization Total Insurance: $75.00) $900.00 Rate: 42.30% Maintenance Cost: $41.67 $500.00 Total Rental Income: $232,177.88 Cash Fiow: $7,233.67 $14,804.00 Total Expenses: $70,798.04 Net Operating Income $1,233.67 $14,804.00 Total Net Operating Income: $161,379.85 �NOI): First Year Expense Breakdown , , , . s . ------__ __ ...�: � va�anry � � Property Tax � '.. � Total Insurance ' � Maintenance Cost Breakdown Over Time � If Sold at Year ii � I � � _ _ I ,Annual � Cash Cash on jEquity � End I Year Income I Mortgage II Expenses i Flow Cash Retum Accumulated I � i i Cash to Return � � i I Receive (IRR) j � -- i-$3,�.0�� Begin i I i -f � 4.78% --$303,000 $284,820I -3.35% 1 i $21,204 $0� $6,400i $14,804� I� 2 $21,628 $0� $6,542'i $15,086� 4.87% --$306,030' $287,668� 1.24%{ '� _ !- r- --- a _ ._- --—. -:__—,i -- - 3. $22,061 , $0' $6,687 i $15,373 4.96/o $309,090 $290,545 2.83%, _ - - r- . _ _ _._ . --- - ---+ 4. ' $22,502 $0 $6,836 $15 666I 5.05%, $312,181 $293,450; 3.65%' 5• ' $22,952� -- }- ._ _ _ : _ - --- - - -- ' � -. $0 $6,988 $15,964' S.15% $315,303' $296,385; 4.14/ 6. $23,411 $0 $7,143 $16,268;I_ 5.25%,_ .$318,456 $299,349' - ' - - - 4.48°/a� __ - : - ,----- 5.35/o' . $321,641 ,--- - -a , 7. $23,879 $0 $7,302 $16,577� _ - ° $302,342� 4J3/o' 8.� $24,357 $0 $7,465 $16,891 5.45% . - - . -_ - $324,857I $305,366 4.92% https://www.calculatocnetlrental-property-calculator,html?cprice=35000&cuseloan=no&cdownpayment=08cinterest=4.5&cloanterm=30&cothercosl=0&_. 1/2 10/30/2019 htlps:l/www.calculatocneVrental-property-calcula�och[ml?cprice=35000&cuseloan=no&cdownpaymen[=0&cinterest=4.5&cloanterm=30_. I9. $24,844! $0 $7,632 $17,212 5.55% $328,106 $308,419 5.08% 10. $25,341 $0 $7,802 $329,042 5.66% $331,387 $311,503 5.20% Total $232,178 $0 $70,798 $162,883 52.54% Purchase Inco :e Purchase Price 35000 Annual Increase Use Loan? � Yes � No Monthly Rent 1900 �2 Closing Cost �� Other Monthly Income �0 �3 Need Repairs? Q Yes Q No Vacancy Rate � Repair Cost 275000 Management Fee � Value after Repairs 300000 5e1! Recurring Operating Expenses Do You Know the Sell Price? � Yes Q No Annual Annual Increase Value Appreciation �Per Year Property Tax 5000 �2 Holding Length 10 Years Total Insurance 900 �3 Cost to Sell � HOA Fee �0 � Maintenance 500 � � � i Other Costs ��3 by Calculator.net htips://www.calculator.netlrantal-property-calculatorhtml?cprice=35000&cuseloan=no&cdownpayment=0&cinterest=4.5&cloanterm=30&cothercost=0& _ 2/2 Attachment I 1St Floor --_---�—=--.�--7�---� � �t2'-1�` Ic'-1�'—�! � �. , �'7 � �' �. 13 4 -7 13 �I ��,'-- =._,_ ... � � i i � � � —9'-6' ,_6, . 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