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Radford Road Urban Renewal Area TIF District OrdinanceCopyrighted S eptember 28, 2020 City of Dubuque Special Meeting Action Items # 1. IT E M T I T L E:Radford Road Tax I ncrement Ordinance S UM M ARY:City Manager recommending approval of an ordinance creating the tax increment financing district for the Radford Road Economic Development District. O RD I NANC E P roviding that general property taxes levied and collected each year on all property located within the Radford Road E conomic Development District of the City of Dubuque, County of Dubuque, S tate of I owa, by and for the benefit of the S tate of I owa, City of Dubuque, County of Dubuque, Dubuque Community S chool District, and other Taxing Districts, be paid to a special fund for payment of principal and interest on loans, monies advanced to and indebtedness, including bonds issued or to be issued, incurred by said City in connection with the Radford Road E conomic Development District Redevelopment Project S UG G E S T E D D I S P O S I T I O N: Suggested Disposition: Receive and F ile; Motion B; Motion A AT TAC H ME N TS: Description Type Radford Road Tax I ncrement Ordinance-MV M Memo City Manager Memo Staff Memo Staff Memo Urban Renewal Plan Supporting Documentation Attachment A - Area Map Supporting Documentation Attachment B1 - Existing Land Use Map Supporting Documentation Attachment B2 - Proposed Land Use Map Supporting Documentation Attachment C - Bonded I ndebtedness Supporting Documentation Attachment D - Legal Description Supporting Documentation Taxing Body Consultation Minutes Supporting Documentation Long Range Planning Advisory Commission Supporting Documentation Ordinance Ordinance Suggested Motion Wording Supporting Documentation TO: The Honorable Mayor and City Council Members FROM: Michael C. Van Milligen, City Manager SUBJECT: Tax Increment Ordinance for the Radford Road Economic Development District DATE: September 24, 2020 Economic Development Director Jill Connors recommends City Council approval of an ordinance creating the tax increment financing district for the Radford Road Economic Development District. I concur with the recommendation and respectfully request Mayor and City Council approval. _____________________________________ Michael C. Van Milligen MCVM:jh Attachment cc: Crenna Brumwell, City Attorney Cori Burbach, Assistant City Manager Jill M. Connors, Economic Development Director Economic Development Department 1300 Main Street Dubuque, Iowa 52001-4763 Office (563) 589-4393 TTY (563) 690-6678 http://www.cityofdubuque.org TO: Michael C. Van Milligen, City Manager FROM: Jill M. Connors, Economic Development Director SUBJECT: Tax Increment Ordinance for the Radford Road Economic Development District DATE: September 21, 2020 INTRODUCTION This memo forwards for City Council review and adoption an ordinance creating the tax increment financing district for the Radford Road Economic Development District. The proposed ordinance was reviewed by the City’s bond counsel and is attached hereto. BACKGROUND On September 28, 2020 the City Council approved an Urban Renewal Plan for the Radford Road Economic Development District which includes property along Radford Road, between Wolff Road and Carver Drive. The tax increment ordinance allows for collection of property tax increment on these properties. The primary goal of the District is to stimulate, through public involvement and commitment, private investment in new housing and residential development as defined by the Iowa Code Section 403.17(12). The proposed Plan would result in the creation of mixed-income housing units near Eleanor Roosevelt Middle School and Carver Elementary. The Dubuque Community School District has expressed its support for this plan and the proposed development. The creation of the Radford Road Urban Renewal District will allow for the necessary incentives for this project to meet its debt service requirements, therefore meeting the need for additional affordable housing on Dubuque’s West End. It will also allow for future development in the area, as the District is larger than the project’s footprint. 2 DISCUSSION Adoption of the proposed tax increment ordinance is needed to establish the use of tax increment financing to the district. The ordinance authorizes the City to establish a special fund for the collection of a portion of the property tax revenues generated by new development occurring within the district. All taxable property located with the tax increment district will continue to pay property taxes based upon the current tax levies and assessment valuations. Tax revenues collected in excess of the base amounts will be used to assist in financing future development projects within the district, including both public and private development. RECOMMENDATION/ ACTION STEP I recommend that the City Council adopt the attached tax increment ordinance for the Radford Road Economic Development District. 1111111 111 11111 11111 I 1111 iI II 11111 II Doc ID: 010583190005 Type GEN Kind: ORDINANCE Recorded: 09/30/2020 at 04:24:15 PM Fee Amt: $27.00 Page 1 of 5 Dubuque County Iowa John Murphy Recorder Fi1e2020-00014920 Prepared by Jill Connors, Economic Development, 1300 Main St., Dubuque, IA 52001, 563-589-4393 Return to Kevin Firnstahl, City Clerk, 50 W. 13th St., Dubuque, IA 52001, (563) 589-4100 ORDINANCE NO. 38-20 AN ORDINANCE PROVIDING THAT GENERAL PROPERTY TAXES LEVIED AND COLLECTED EACH YEAR ON ALL PROPERTY LOCATED WITHIN THE RADFORD ROAD ECONOMIC DEVELOPMENT DISTRICT OF THE CITY OF DUBUQUE, COUNTY OF DUBUQUE, STATE OF IOWA, BY AND FOR THE BENEFIT OF THE STATE OF IOWA, CITY OF DUBUQUE, COUNTY OF DUBUQUE, DUBUQUE COMMUNITY SCHOOL DISTRICT, AND OTHER TAXING DISTRICTS, BE PAID TO A SPECIAL FUND FOR PAYMENT OF PRINCIPAL AND INTEREST ON LOANS, MONIES ADVANCED TO AND INDEBTEDNESS, INCLUDING BONDS ISSUED OR TO BE ISSUED, INCURRED BY SAID CITY IN CONNECTION WITH THE RADFORD ROAD ECONOMIC DEVELOPMENT DISTRICT REDEVELOPMENT PROJECT WHEREAS, the City Council of the City of Dubuque, Iowa, after public notice and hearing as prescribed by law and pursuant to Resolution No. 305-20 adopted on September 28, 2020, adopted an Urban Renewal Plan for an urban renewal area known as the Radford Road Economic Development District (the "Project Area"), which Project Area includes the Tots and parcels described in said Urban Renewal Plan; and WHEREAS, expenditures and indebtedness are anticipated to be incurred in the future to finance urban renewal project activities carried out in furtherance of the foregoing Urban Renewal Plan; and WHEREAS, the City Council desires to provide for the division of revenue from taxation in the Project Area in accordance with the provisions of Section 403.19 of the Code of Iowa, as amended; and WHEREAS, the following enactment is necessary to accomplish the objectives described in the premises. JBishop092220 a-7, 00 -EG©N0AnA i �V NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF DUBUQUE, IOWA, THAT: Section 1: For purposes of this Ordinance, the following terms shall have the following meanings: (a) Project Area shall mean that portion of the City of Dubuque, Iowa described in the Urban Renewal Plan for the Radford Road Economic Development District approved by Resolution No. 305-20 on September 28, 2020, which Project Area includes the lots and parcels located within the area now legally described as follows: Lot 1-1 and Lot 2-1 of Wolff Place No. 2, in the City of Dubuque, Iowa, excepting all that part of the Right of Way of Radford Road lying within said Lot 2-1 All in the City of Dubuque, Iowa. Section 2: The taxes levied on the taxable property in the Project Area, legally described in Section 1 hereof, by and for the benefit of the State of Iowa, City of Dubuque, County of Dubuque, Dubuque Community School District, and all other taxing districts from and after the effective date of this Ordinance shall be divided as hereinafter in this Ordinance provided. Section 3: That portion of the taxes which would be produced by the rate at which the tax is levied each year by or for each of the taxing districts taxing property in the Project Area upon the total sum of the assessed value of the taxable property in the Project Area, as shown on the assessment roll as of January 1 of the calendar year preceding the first calendar year in which the City of Dubuque certifies to the County Auditor the amount of loans, advances, indebtedness, or bonds payable from the division of property tax revenue described herein, shall be allocated to and when collected be paid into the fund for the respective taxing district as taxes by or for said taxing district into which all other property taxes are paid. The taxes so determined shall be referred herein as the "base period taxes" for such Project Area. Section 4: That portion of the taxes each year in excess of the base period taxes for the Project Area, determined as provided in Section 3 of this Ordinance, shall be allocated to and when collected be paid into a special tax increment fund hereby established by the City of Dubuque to pay the principal of and interest on loans, monies advanced to, or indebtedness, whether funded, refunded, assumed or otherwise, including bonds issued under authority of Section 403.9 or Section -2- 403.12 of the Code of Iowa, incurred by the City of Dubuque, Iowa to finance or refinance, in whole or in part, urban renewal projects undertaken within the Project Area pursuant to the Urban Renewal Plan, except that taxes for the regular and voter -approved physical plant and equipment levy of a school district imposed pursuant to Section 298.2 and taxes for the instructional support program of a school district imposed pursuant to Section 257.19, but only to the extent authorized in Section 403.19(2), and taxes for the payment of bonds and interest of each taxing district and any other tax levy exceptions under Section 403.19 shall be collected against all taxable property within the Project Area without any limitation as hereinabove provided. Section 5: Unless or until the total assessed valuation of the taxable property in the Project Area exceeds the total assessed value of the taxable property in said area as shown by the assessment roll referred to in Section 3 of this Ordinance, all of the taxes levied and collected upon the taxable property in the Project Area shall be paid into the funds for the respective taxing districts as taxes by or for the taxing districts in the same manner as all other property taxes. Section 6: At such time as the loans, monies advanced, bonds and interest thereon and indebtedness of the City of Dubuque referred to in Section 4 hereof have been paid, all monies thereafter received from taxes upon the taxable property in the Project Area shall be paid into the funds for the respective taxing districts in the same manner as taxes on all other property. Section 7. All ordinances or parts of ordinances in conflict with the provisions of this Ordinance are hereby repealed. The provisions of this Ordinance are intended and shall be construed so as to fully implement the provisions of Section 403.19 of the Code of Iowa, as amended, with respect to the division of taxes from property within the Project Area as described above. In the event that any provision of this Ordinance shall be determined to be contrary to law, it shall not affect other provisions or application of this Ordinance which shall at all times be construed to fully invoke the provisions of Section 403.19 of the Code of Iowa with reference to the Project Area and the territory contained therein. Section 8: This Ordinance shall be in effect after its final passage, approval and publication as provided by law. -3- Ordinance No. 38-20 Passed and approved this 28th day of Septe ber 2020. Roy D. B I, Mayor Attest: Kevi°fS. Firnstahl, Cit;lerk Read first time: September 28, 2020 Passed and approved: September 28, 2020 Published: October 2, 2020 CERTIFICATE of the CITY CLERK STATE OF IOWA ) SS: COUNTY OF DUBUQUE ) I, Kevin S. Firnstahl, do hereby certify that I am the duly appointed, qualified, City Clerk of the City of Dubuque, Iowa, in the County aforesaid, and as such City Clerk, I have in my possession or have access to the records of the proceedings of the City Council. I do further state that the hereto attached Ordinance No. 38-20 is a true and correct copy of the original. In Testimony Whereof, I hereunto set my hand and official seal of the City of Dubuque, Iowa. Dated at Dubuque, Iowa, on this 29th day of September, 2020. (9 nn Kevin S. Firnseah C C, City Clerk URBAN RENEWAL PLAN Radford Road Economic Development District City of Dubuque, Iowa This Urban Renewal Plan provides for the development of the Radford Road Economic Development District. This plan was authorized by Resolution 305-20 of the City Council of the City of Dubuque, Iowa on September 28, 2020. Prepared by the Economic Development Department. Version 2020.1 1 SIN3WHOdlld '0 Nd1d 1VM3N82:1 N`d8l a3A02Iddd dO 1N3WON3Wd 'N A11118V2�3A S *IN NV1d 1VM2N321 N`d82ll a3/\O2iddd d0 NOIIVHfla 1 SIN3W3aflOal 1VOO1 GNV 31d1S .> S311IALLOV ONIONVNIH f SLN3W32:1If10321 NOIIV0O al NOLLISOdSIa aNd NOI11SIflOOV GNV1 'H d12i31I2I0 NOIS3a QNV 0NINN`d1d 3Sfl ONV1 SIN 1(0?A1f1O32j IN3WdO13n3a321 ONV IN3WdO13A O *0 SISA1VNd ONla1ifl8 0fl8nd 'd S3111A110`d 3SOdHfld 0118ld '3 S312iVONf1O81O12d1S10 'a Nd1d 3HI dO SALLO3f 8O '0 NOIIVNJIS3a 3H1IOd NOIlVOldlLSflf '8 NOIIOf1OOa1NI 'd SIN31NO0 AO 318V1 A. INTRODUCTION This URBAN RENEWAL PLAN (the "Plan") has been prepared to achieve the objectives and public purpose activities intended to stimulate, through public actions, financing, and commitments, private investment within the area known as the Radford Road Urban Renewal District (the "District"). In order to achieve this objective, the City of Dubuque (the "City") shall undertake the urban renewal actions specified in this Plan, pursuant to the powers granted to it under Chapter 403 of the Iowa Code, Urban Renewal Law, and Chapter 15A of the Iowa Code. B. JUSTIFICATION FOR THE DESIGNATION The City Council of the City of Dubuque, Iowa has determined that a need exists for affordable and mixed -income housing within the community to enhance economic development activities. The Council has declared by Resolution of Necessity No. 305-20 on September 8, 2020 that these factors have impaired the sound growth of the City of Dubuque and of the area comprising the District. C. OBJECTIVES OF THE PLAN The primary objectives of the Plan are the development and redevelopment of the District, through: 1. The creation and development of housing units and residential opportunities in the District; and 2. The creation of a safe, efficient, and attractive circulation system for both pedestrian and vehicular traffic within the District and in the public right-of- way corridor areas leading to the District; 3. The creation of financial incentives necessary to encourage private investment in the District; 4. The expansion of the existing property tax base of the District; 5. The creation of a safe, healthy, and attractive physical environment through the construction or installation of necessary infrastructure and other public improvements or actions supportive of the District; and To provide reimbursement of City personnel costs and other administration and legal fees associated with the development and implementation of urban renewal projects within the District. 3 17 alos s,,(1i0 eql u! 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Such additional 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 on incentives as authorized by this Plan, including, but not limited to, land, loans, grants, tax rebates, public infrastructure assistance, and other incentives. The foregoing public purpose activities may be undertaken throughout the District and subareas where appropriate. All public purpose activities shall be conditioned upon and shall meet the restrictions and limitations placed upon the District by the Plan. F. PUBLIC BUILDING ANALYSIS There are currently no public buildings anticipated in the District. G. DEVELOPMENT AND REDEVELOPMENT REQUIREMENTS The LAND USE and PLANNING AND DESIGN CRITERIA set forth herein shall apply to any and all District properties the preservation, conservation, development and/or the redevelopment of which is assisted by the City through any of the PUBLIC PURPOSE ACTIVITIES listed above. Attachment B-1 and B-2 identify the existing and proposed land uses within the Radford Road Urban Renewal District. 1. LAND USE: The intent of this Plan is to promote the construction of an affordable and mixed - income residential property. All uses shall be regulated by the zoning district established for the property. LAND USE maps (Attachments B1 and B2) identify the existing and the proposed land uses within the District. 2. PLANNING AND DESIGN CRITERIA: The planning criteria to be used to guide the physical development of the District are those standards and guidelines contained within the City of Dubuque's Zoning Ordinance and other applicable local, state and federal codes and ordinances. H. LAND ACQUISITION AND DISPOSITION 1. Land Acquisition: The City does not intend to acquire any property within the District. However, the City reserves the right to 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. 5 9 agl aapun Ain eta Aq panss! aq i ew sluewaw6e ueol JO spuo8 .ueld s!ql Jo 3 uo!loaS u! pa!l.!luap! sa!l!n!loy asodand a!Ignd an luawaldw! of paunou! slsoo alq!6!la 6u!oueu!4 jo sueaw e se 'eoueu!pao 40 luauno pue 6 •CO7 uo!loaS apoa enrol aapun pez!aoglne `6uioueuil luawaaou! xel az!I!ln of paaedaad s! 40 agl :bu!aueu!,d luawaaoul xel •z •s!seq aseo-/q-aseo e uo apoa enrol agl to b • 'g I. uo!loaS u! gfo4 les saoloe4 agl 4o OJOW JO auo Jap!suoo Ilegs Ain eta `sluea6 JO sueol Ienp!n!pu! 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The City acknowledges that the use of tax increment revenues delays the ability of other local taxing bodies to realize immediately the direct tax benefits of new development in the District. The City believes, however, that the use of tax increment revenues to finance the public improvements and to promote private investment in the District is necessary in the public interest to achieve the OBJECTIVES of this Plan. Without the use of this special financing tool, new investment may not otherwise occur or may occur within another jurisdiction. If new development does not take place in Dubuque, property values could stagnate and the City, County and School District may receive less taxes during the duration of this Plan than they would have if this Plan were not implemented. Tax increment financing will provide a long-term payback in overall increased tax base for the City, County, and Dubuque Community School District. The initial public investment required to generate new private investment will ultimately increase the taxable value of the District well beyond its existing base value. Tax increment reimbursement may be sought for any of the eligible costs incurred by the City in connection with any of the Public Purpose Activities described in Section E of this Plan, including but not limited to the following: a. Planning and administration of the 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 District, in an amount not to exceed $50,000 annually; b. Construction of any of the public improvements, amenities and facilities described in Section E of this Plan or otherwise contemplated by the Plan within the District, including pre -development planning, environmental assessment and remediation, feasibility analysis and engineering costs; c. Acquisition, installation, maintenance and replacement of public improvements throughout the District including but not limited to streetlights, benches, landscaping, appropriate signage and rest rooms; d. Acquisition of land and/or buildings and preparation of same for sale to private developers, including any "write down" of the sale price of the land and/or building; e. 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TO!os!a a14 u!LiT!M wawdolanap Mau pue swawanoadw! 4o wa4xa a14 `aw!} s!Li4 Ty :ssaupaTgapul 4o 1unowy pasodoad '£ .ueld s!Li4 40 3 uo!Toas u! pagposap S3I1IAI10V 3SOckIfld 01-18ld aLi} 4o /(Lie Lio!M uo!4oauuoo u! paaanou! s4soo aNu 40 /(uy •Li •sueol pue swea6 Ieaapal pue awls 'pool 4.o /4a!aen e ao4 aaegs 6u!Lio4ew a14 6u!p!noad •6 pue :ueld a14 4o Iaoddns u! pogs!lge}sa swea6oad ueol 6u!k4llenb Jaw JO `A4!n!4oe JO ssau!snq aLi4 6u!puedxa 4o sasodand aoJ `swea6 ao sueol Lions aoueu!4 o} panss! spuoq ,(ue uo swawAed ao!Mas 'gap 6u!pnlou! `apo0 eMOI a14 4o yg 6 aa}deg3 aapun segoue pa!}!lenb o4 swea6 JO sueoi •I Council and consistent with all applicable provisions of law. The DEVELOPMENT AND REDEVELOPMENT REQUIREMENTS established, or as amended from time to time by the City of Dubuque Zoning Ordinance, shall remain in effect in perpetuity. M. SEVERABILITY In the event one or more provisions contained in this Plan shall be held for any reason to be invalid, illegal, unauthorized or unenforceable in any respect, such invalidity, illegality, lack of authorization or unenforceability shall not affect any other provision of this Plan and this Plan shall be construed and implemented as if such provision had never been contained herein. N. AMENDMENT OF APPROVED URBAN RENEWAL PLAN This Plan may be amended from time to time to respond to development opportunities. Any such amendment shall conform to the requirements of Chapter 403 of the Iowa Code, Urban Renewal Law. Any change effecting any property or contractual right can be effectuated only in accordance with applicable state and local law. O. ATTACHMENTS The following attachments are a part of this Plan and are on the at the Dubuque City Clerk's Office: A Map B-1 Existing Land Use Map B-2 Proposed Land Use Map C List of General Obligation Debt D District Boundary Dcscription 9 Jibmwombik• • 'lit gailam ) .10:111••••• r • 111111WW.,• •// 'we v •-• I " Radford Rd Urban Renewal District Vacant .ACHMENT B-1: " ING LAND USE RADFORD RD WAL DI,STRICT .,. RADFORD tin Mr WOLFF Radford Rd Urban Renewal District Public Open Space RADFORD Attachment C City of Dubuque Summary of Bonded Indebtedness Description Date Average Year of Amount Principal Principal Interest Principal of Interest Final of Outstanding Due Due Outstanding Issue Rate Payment Issue 6/30/20 FY 2021 FY 2021 6/30/21 General Obligation Bonds (Essential Corporate Purpose) Airport New Term Furnishings - STax 20% 11/17/14 3.30% 2026 55,000 30,000 5,000 900 25,000 Airport Improvements Refunding 4/17/17 3.00% 2030 282,200 228,100 19,200 6,843 208,900 Airport Improvements - PFC 6/28/12 3.20% 2032 2,145,000 1,470,000 105,000 48,728 1,365,000 Airport Improvements - Sales Tax 20% 6/28/12 3.20% 2032 90,000 20,000 10,000 480 10,000 Airport Terminal Utility Improv - PFC 11/17/14 3.30% 2034 690,000 540,000 30,000 17,456 510,000 Airport New Terminal Roads/Parking 4/4/16 2.79% 2036 635,927 523,705 28,775 14,053 494,930 Airport Runway Lighting- FY20 Future 4.00% 2040 156,400 156,400 2,686 6,256 153,714 Airport Snow Removal Equip- FY20 Future 4.00% 2040 230,000 230,000 3,949 9,200 226,051 America's River Refunding -General Fund 4/17/17 3.00% 2021 1,984,100 520,700 520,700 15,621 - America's River Refunding - GDTIF 4/17/17 3.00% 2021 1,255,000 330,000 330,000 9,900 - Building -Conf Center Improv - ST20% 6/20/19 3.00% 2022 25,076 16,725 8,358 2,838 8,368 Building- Conf Center Energy Improv 6/20/19 3.00% 2027 187,136 164,288 22,848 4,929 141,440 Building 18th Street Improv Sales Tax 20% 3/19/18 3.05% 2026 391,913 306,121 46,796 9,294 259,325 Building City Hall Brickwork - ST20% 6/20/19 3.00% 2027 236,448 210,230.61 27,697.18 9,405 182,533 Building Smart Meters Refunding 4/17/17 3.00% 2030 45,400 36,700 3,100 1,101 33,600 Building Federal Building Roof - Sales Tax 4/4/16 2.79% 2035 268,404 221,039 12,145 5,931 208,894 Civic Center Improvements - Sales Tax 6/20/19 3.00% 2027 323,146 287,316 37,853 12,854 249,463 Civic Center Chair Platform Section 3 6/20/19 3.00% 2027 59,340 52,095 7,245 1,563 44,850 DICW Expansion -Non Taxable - Refunding 4/4/16 2.91% 2023 3,175,000 700,000 625,000 21,000 75,000 DICW Expansion - South Siegert Farm 3/19/18 3.05% 2026 239,534 187,099 28,601 5,680 158,498 DICW North Siegert Refunding 4/17/17 3.00% 2029 1,285,000 1,010,000 100,000 30,300 910,000 DICW Expansion - Consultant 12/10/12 2.53% 2032 151,462 107,582 7,785 2,709 99,797 DICW Expansion - South Siegert Farm - 6/28/12 3.20% 2032 3,975,000 2,725,000 195,000 90,365 2,530,000 DICW Expansion - South Siegert Farm- 6/20/19 3.00% 2032 305,357 285,937 19,437 6,600 266,500 DICW Taxable - Land Acquisition 11/17/14 3.99% 2034 1,640,000 1,235,000 70,000 44,875 1,165,000 DICWChavenelle Road - FY21 Non- Future 6.00% 2041 1,295,000 - 1,295,000 E911 Tower Relocation - Sales Tax 20% 6/20/19 3.00% 2027 141,869 126,139 16,618 5,643 109,520 Finance General Ledger Software - FY21 Future 4.00% 2041 250,000 - 250,000 Fire Station #4 Improvements - Gaming 6/20/19 3.00% 2027 188,054 161,108 26,968 9,158 134,140 Fire Amb/Building HVAC/Bunker Irrigation/ 11/17/14 3.30% 2025 715,000 375,000 70,000 11,250 305,000 Fire Truck Refunding - Debt Service Levy 4/17/17 3.00% 2030 951,500 769,400 64,800 23,082 704,600 Fire Station #2/Park Improvements - Sales 11/17/14 3.30% 2034 320,000 245,000 15,000 7,925 230,000 Fire Ambulance Replacement 4/17/17 3.00% 2030 230,000 185,000 15,000 5,550 170,000 Fire Structural Repairs 5&6/Quick Pump - 6/20/19 3.00% 2039 448,875 448,875 13,466 448,875 Fire Pumper Replacement - FY20 Future 4.00% 2040 292,000 292,000 5,014 11,680 286,986 Fire Replace HVAC Headquarters - FY20 Future 4.00% 2040 80,000 80,000 1,374 3,200 78,626 Fire Ladder Replacement - FY21 Future 4.00% 2041 289,000 - - - 289,000 Fire Replace HVAC Headquarters - FY21 Future 4.00% 2041 169,000 - - - 169,000 Franchise Fee Settlement Judgment Bond 4/4/16 2.93% 2035 2,830,000 2,310,000 135,000 64,906 2,175,000 GDTIF Main Street Refunding 4/17/17 3.00% 2021 305,000 80,000 80,000 2,400 GDTIF Kephart's Building - Refunding 4/4/16 2.91% 2023 200,000 90,000 30,000 2,700 60,000 GDTIF Library Renovation - Refunding 4/4/16 2.91% 2023 1,275,000 580,000 185,000 17,400 395,000 GDTIF Colts Building Renovation 6/20/19 3.00% 2039 1,575,000 1,575,000 - 47,250 1,575,000 GDTIF East/West Cooridor - FY20 Future 4.00% 2040 450,000 450,000 7,727 18,000 442,273 GDTIF - Engineering Projects - FY20 Future 4.00% 2040 108,000 108,000 1,854 1,287 106,146 GDTIF - 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Z£OZ %£97 ZL/0l/ZL OIIAI/w00a1sa1S419dilo0 000'999'Z ZL£'£L 000`4ZZ 000'068'Z 000'08£'b L£OZ %b4'Z ZL/9L/C IePowaalul dila`J 000`98£'£ 1761.'86 000'06Z 000'9L9'£ 000'099'9 L£OZ %0L'Z Z l/4 L/E uo!saanuo0 AeM-ZF199a1S q1L dlla0 000'0174' L 099'09 000`41L 000'999' 1. 000'080'Z 0£OZ %00'E L 4/L llb 6u!punlau lo!alsia >laomlln dila0 000'909'L 996'174 000'01L 000'417L'L 000'0ZL'Z 0£OZ %00'£ LL/Llib 6u!punlad 6ulsnoH umolumoa diia0 000'689 — — — 000'689 L1OZ %04•b aanlnd LZAd -wl3 PUe g1ZL 3 6uD1aed dlla0 l•Z/0£/9 LZOZAd l•ZOZ Ad 0Z/0£/9 anssl luaw/Ced a;eb anssi 6u!pue;s;n0 ana ana 6u!puels;n0 ;o leu!d ;saaa;ul to led!oulad ;saga;ul led!oupd !ed!ouud ;unowy ioaeat, e6eJany a;ea uo!;dposea Description Date of Issue Average Interest Rate Year of Final Payment Amount of Issue Principal Outstanding 6/30/20 Principal Due FY 2021 Interest Due FY 2021 Principal Outstanding 6/30/21 Water System Improvements 12/10/12 2.49% 2032 644,151 438,119 31,971 11,369 406,148 Water System Improvements Water System Improvements Water System Improvements Total General Obligation Bonds Tax Increment Port of Dubuque Parking Ramp Total Tax Increment Bonds 40 Main (GDTIF) Total Tax Increment Notes Total Tax Increment 6/20/19 3.00% 11/17/14 3.30% 4/4/16 2.79% 10-16-07 7.5000% 08-06-09 2033 1,323,107 1,240,571 2034 9,195,000 8,250,000 2035 635,000 525,000 123,813,394 87,271,828. 2037 23,025,000 23,025,000 2020 690,529 690,529 23,715,529 87,465 29,700 485,000 266,781 30,000 14,088 7,558,286.1 2,791,937 18,985,000 590,000 18,985,000 590,000 90,880 90,880 90,880 90,880 19,075,880 680,880 1,423,875 1,423,875 4,529 4,529 1,428,404 1,153,106 7,765,000 ,l 495,000 83,668,541 1 18,395,000 18,395,000 18,395,000 TIF bond issue for the Port of Dubuque Parking Ramp backed by Greater Downtown TIF & a minimum assessment agreement Tax Increment Economic Development TIF Rebate Agreements Faley Properties (DICW) 2/7/11 Green Industrial Supply (DICW) 8/15/11 Tri-State Quality Metals (DICW) Non- 3/17/14 Rebate Rebate Rebate 2022 2023 2026 904,638 2,908,812 32,510 210,806 533,776 49,387 105,403 177,925 49,387 11 105,403 355,8511 49,387 Roasting Solutions (DICW) Non - Appropriation 1/14/16 Rebate 2028 33,666 40,045 40,045 40,045 Rite Hite(DICW) Non -Appropriation 1/14/17 Rebate 2030 Hormel Foods (DICW) (100% 2021/40% 4/21/08 Rebate 2026 Victory Cafe 756 Main St. (GDTIF) Bowling & Beyond Lease Buyout (GDTIF) Flexsteel (GDTIF) 6/21/10 10/15/12 4/18/11 Rebate Lease Rebate 24,190 24,473 24,473 8,250,067 2,016,934 672,311 2022 2032 2024 87,053 1,000,000 2,020,572 11,239 600,000 781,743 5,749 50,000 195,436 24,473 1,344,6231 5,490 550,000 586,307 The Rose (Lake Ridge) 9/26/11 Rebate 2024 136,014 68,527 17,132 51,395 Linseed Oil (GDTIF) Multi -Res Rousselot (GDTIF) (Non -Appropriation) Julien Hotel (GDTIF) 44 Main (GDTIF) Multi -Res Barker Financial (GDTIF) Multi -Res Engine House #1 (GDTIF) 253 Main St. (GDTIF) (Non -Appropriation) Spahn and Rose (GDTIF) (Non - Franklin Investment -Multires (GDTIF) Plastic Center Betty Jane Block (GDTIF) Caradco (GDTIF) Multi -Res Bonson 356 Main St. (GDTIF) Multi -Res Roshek Building (GDTIF) (Non - Novelty Iron Works (GDTIF) (Non-Approp) Smokestack (GDTIF) (Non-Approp) Rockfarm Holdings (TECH) Non - Total TIF Rebates General Fund Leases 3/7/13 1/22/13 4/21/08 10/18/10 8/16/10 6/6/11 4/6/15 4/21/14 4/4/11 2/7/11 3/21/11 12/19/11 2/17/09 6/17/13 6/17/18 10/7/14 Rebate Rebate Rebate Rebate Rebate Rebate Rebate Rebate Rebate Rebate Rebate Rebate Rebate Rebate Rebate Rebate 2030 2025 2026 2027 2027 2027 2027 2027 2028 2028 2028 2028 2030 2031 2022 2027 576,504 4,931 3,260,286 446,799 297,282 171,166 5,798 108,221 437,225 148,957 1,499,442 152,286 5,149,852 33,105 1,623 42,301 27,733,300 168,384 10,915 1,250,396 144,767 67,950 68,927 2,997 105,313 189,322 60,518 820,675 48,393 266,124 75,352 541 36,455 7,653,959 16,838 10,915 208,399 22,851 12,537 9,847 2,997 105,313 29,069 7,565 113,018 7,282 266,124 75,352 541 36,455 2,262,964 - 151,546 10,915 1,041,997 121,916 55,413 59,080 2,997 105,313 - 160,253 52,953 707,657 41,111 1 266,124 71,732 541 36,455 5,998,977 Various Various Ongoing 194,160 155,000 Iowa Finance Authority Loan - Caradco 12-01-10 3.0000% 2030 Total Other Lns-Rev Backed 4,500,000 4,500.000 155,000 3,639,903 169,594 131,250 3,470,309 3,639,903 169,594 131.250 3,470,309 Total City Indebtedness Subject to Debt Limit 179,956,383 117,796,570 10,671,724. 4,351,591 111,687,827 Revenue Bonds Parking Bricktown Parking Lot Sanitary Northfork Catfish Improvements SRF 7/21/08 5.00% 2023 400,000 121,344 32,557 5,665 88,787 1/13/10 3.25% 2031 912,000 529,000 46,000 17,192 483,000 1,Z4'0 L9'LZ L %L9'94 94Z'86Z`6£Z$ £06'498'60 L %4L' LS 4L4'1.99`LZZ L6L'L8L'09Z LO8'£1.8'L 1.98'96l'8L 46£498'09Z £8E'LLE'6L£ 496'660'64L 0LZ'Z94'E LZL'4Z9'L EZ8`L90'£4L 000'1-Z4'661, 000'01.9'£ OS4`4iI. 000`04Z 000`098`E 000`00L'9 OEOZ %49'£ 01191./8 000'9LZ 869'91. 000'001. 000'91.£ 000'961.'1. 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Discussion of stormwater management and runoff mitigation for the proposed project. A panel investigating the site plan will forward any findings to the taxing bodies. Meeting Adjourned: 2:00 p.m. /111i VL k �%-s-- V v v Jill M. Connors Economic Development Director, City of Dubuque Service People Integrity Responsibility Innovation Teamwork Planning Services Department City Hall - 50 West 13th Street Dubuque, IA 52001-4845 (563) 589-4210 phone (563) 589-4221 fax (563) 690-6678 TDD planning@cityofdubuque.org September 18, 2020 The Honorable Mayor and City Council City of Dubuque 50 W. 13th Street Dubuque, IA 52001 SUBJECT: Creation of the Radford Road Urban Renewal Area Plan Dear Mayor and City Council Members: Introduction The Long Range Planning Advisory Commission has reviewed the proposed plan for the Radford Road Urban Renewal Area for consistency with the 2017 Imagine Dubuque Comprehensive Plan in accordance with Section 15-2-13G of the City Code. Discussion Jill Connors, Economic Development Director, provided information on the proposed plan for the Radford Road Urban Renewal District. She noted that it will add to the City’s tax base in the future, developing a previously undeveloped parcel of land with a mixed income housing development in an area close to schools, employment and shopping. She noted there is currently no low-moderate income housing developments in this part of the City. She noted this proposal helps to meet multiple recommendations in the Housing and Land Use sections of the 2017 Imagine Dubuque Comprehensive Plan. The Commission discussed the project and found the proposal consistent with the 2017 Imagine Dubuque Comprehensive Plan. The Commission also noted that the Objectives section of the Radford Road Urban Renewal Plan lack referral to the low-moderate income housing creation and use of Housing Choice Vouchers for low income families to secure affordable housing. Commissioners discussed a desire for this, and for future plans to make this issue an objective. Recommendations By a vote of 5-0, the Commission recommends approval of the Urban Renewal Plan for the creation of the Radford Road Economic Development District, as it is consistent with the 2017 Imagine Dubuque Comprehensive Plan. In a separate motion, by a vote of 5-0, the Commission recommends that the City Council consider adding an objective to the Urban Renewal Plan regarding a commitment to a specific number of low-income units and Housing Choice Voucher participation. Respectfully submitted, John Pregler, Chairperson Long Range Planning Advisory Commission cc: Jill Connors, Economic Development Director Kevin Firnstahl From:Kevin Firnstahl Sent:Tuesday, September 29, 2020 12:31 PM To:denise.dolan@dubuquecounty.us Cc:Mary Habel; Jill Connors; EconDev Subject:City of Dubuque Radford Road Urban Renewal District Attachments:Radford Road UR Plan Resolution 305-20.pdf; Radford Road Urban Renewal Plan 9 28 20.pdf; Radford Road UR Plan Ordinance 305-20.pdf Hi Denise, Attached is the documentation from the Dubuque City Council for the Radford Road Urban Renewal District. Attachments: 1. Approving Resolution 2. UR Plan 3. Adopting Ordinance. I will record the resolution today or tomorrow. Please contact me if you have questions. Thank you. Kevin S. Firnstahl, City Clerk th 50 W. 13 Street Dubuque, IA 52001 kfirnsta@cityofdubuque.org 563-589-4100 563-589-4121 Please note: I am currently working between City Hall and home. You may continue to contact me using the above listed information. My hours of work are Monday – Friday, 8:00 a.m. to 5:00 p.m. CST. Are you interested in how the City of Dubuque is responding to COVID-19? Please visit www.cityofdubuque.org/dubuquecovid19response HERE FOR YOU: The City of Dubuque is committed to and prepared for providing all essential services to our residents during the Coronavirus (COVID-19) pandemic. Most City of Dubuque offices and facilities are closed to the public until further notice, but staff are still working. We are continuing to provide services to the public electronically, by phone, by mail, and when/if necessary, by appointment.  For contact information and service delivery changes for all departments, visit www.cityofdubuque.org.  To report a concern or submit an online service request, visit www.cityofdubuque.org/citizensupport.  For the latest local information on COVID-19, visit www.cityofdubuque.org/covid19 or call 563.556.6200. 1 STATE OF IOWA SS: DUBUQUE COUNTY CERTIFICATE OF PUBLICATION I, Kathy Goetzinger, a Billing Clerk for Woodward Communications, Inc., an Iowa corporation, publisher of the Telegraph Herald, 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: 10/02/2020 and for which the charge is 74.79 Subscribed to before me, a Notary Public in and for Dubuque County, Iowa, this 2nd day of October, 2020 Public in and for DubuquCounty, Iowa. JANET K. PAPE .. _ Commission Number 19'9,6.59 h1y Comm;E.xp, DEC 11, 2022 Ad text : OFFICIAL PUBLICATION ORDINANCE NO. 38-20 AN ORDINANCE PROVIDING THAT GENERAL PROPERTY TAXES LEVIED AND COLLECTED EACH YEAR ON ALL PROPERTY LOCATED WITHIN THE RADFORD ROAD ECONOMIC DEVEL-OPMENT DISTRICT OF THE CITY OF DUBUQUE, COUNTY OF DUBUQUE, STATE OF IOWA, BY AND FOR THE BENEFIT OF THE STATE OF IOWA, CITY OF DUBUQUE, COUNTY OF DUBUQUE, DUBUQUE COMMUNITY SCHOOL DISTRICT, AND OTHER TAXING DISTRICTS, BE PAID TO A SPECIAL FUND FOR PAYMENT OF PRINCIPAL AND INTEREST ON LOANS, MONIES ADVANCED TO AND INDEBTEDNESS, INCLUDING BONDS ISSUED OR TO BE ISSUED, INCURRED BY SAID CITY IN CONNECTION WITH THE RADFORD ROAD ECONOMIC DEVELOPMENT DISTRICT REDEVELOPMENT PROJECT WHEREAS, the City Council of the City of Dubuque, Iowa, after public notice and hearing as prescribed by law and pursuant to Resolution No. 305-20 adopted on September 28, 2020, adopted an Urban Renewal Plan for an urban renewal area known as the Radford Road Economic Development District (the "Project Area"), which Project Area includes the lots and parcels described in said Urban Renewal Plan; and WHEREAS, expenditures and indebtedness are anticipated to be incurred in the future to finance urban renewal project activities carried out in furtherance of the foregoing Urban Renewal Plan; and WHEREAS, the City Council desires to provide for the division of revenue from taxation in the Project Area in accordance with the provisions of Section 403.19 of the Code of Iowa, as amended; and WHEREAS, the following enactment is necessary to accomplish the objectives described in the premises. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF DUBUQUE, IOWA, THAT: Section 1: For purposes of this Ordinance, the following terms shall have the following meanings: (a) Project Area shall mean that portion of the City of Dubuque, Iowa described in the Urban Renewal Plan for the Radford Road Economic Development District approved by Resolution No. 305-20 on September 28, 2020, which Project Area includes the lots and parcels located within the area now legally described as follows: Lot 1-1 and Lot 2-1 of Wolff Place No. 2, in the City of Dubuque, Iowa, excepting all that part of the Right of Way of Radford Road lying within said Lot 2-1 All in the City of Dubuque, Iowa. Section 2: The taxes levied on the taxable property in the Project Area, legally described in Section 1 hereof, by and for the benefit of the State of Iowa, City of Dubuque, County of Dubuque, Dubuque Community School District, and all other taxing districts from and after the effective date of this • Ordinance shall be divided as hereinafter in this Ordinance provided. Section 3: That portion of the taxes which would be produced by the rate at which the tax is levied each year by or for each of the taxing districts taxing property in the Project Area upon the total sum of the assessed value of the taxable property in the Project Area, as shown on the assessment roll as of January 1 of the calendar year preceding the first calendar year in which the City of Dubuque certifies to the County Auditor the amount of loans, advances, indebtedness, or bonds payable from the division of property tax revenue described herein, shall be allocated to and when collected be paid into the fund for the respective taxing district as taxes by or for said taxing district into which all other property taxes are paid. The taxes so determined shall be referred herein as the "base period taxes" for such Project Area. Section 4: That portion of the taxes each year in excess of the base period taxes for the Project Area, determined as provided in Section 3 of this Ordinance, shall be allocated to and when collected be paid into a special tax increment fund hereby established by the City of Dubuque to pay the principal of and interest on loans, monies advanced to, or indebtedness, whether funded, refunded, assumed or otherwise, including bonds issued under authority of Section 403.9 or Section 403.12 of the Code of Iowa, incurred by the City of Dubuque, Iowa to finance or refinance, in whole or in part, urban renewal projects undertaken within the Project Area pursuant to the Urban Renewal Plan, except that taxes for the regular and voter -approved physical plant and equipment levy of a school district imposed pursuant to Section 298.2 and taxes for the instructional support program of .a school district imposed pursuant to Section 257.19, but only to the extent authorized in Section 403.19(2), and taxes for the payment of bonds and interest of each taxing district and any other tax levy exceptions under Section 403.19 shall be collected against all taxable property within the Project Area without any limitation as hereinabove provided. Section 5: Unless or until the total assessed valuation of the taxable property in the Project Area exceeds the total assessed value of the taxable property in said area as shown by the assessment roll referred to in Section 3 of this Ordinance, all of the taxes levied and collected upon the taxable property in the Project Area shall be paid into the funds for the respective taxing districts as taxes by or for the taxing districts in the same manner as all other property taxes. Section 6: At such time as the loans, monies advanced, bonds and interest thereon and indebtedness of the City of Dubuque referred to in Section 4 hereof have been paid, all monies thereafter received from taxes upon the taxable property in the Project Area shall be paid into the funds for the respective taxing districts in the same manner as taxes on all other property. Section 7. All ordinances or parts of ordinances in conflict with the provisions of this Ordinance are hereby repealed. The provisions of this Ordinance are intended and shall be construed so as to fully implement the provisions of Section 403.19 of the Code of Iowa, as amended, with respect to the division of taxes from property within the Project Area as described above. In the event that any provision of this Ordinance shall be determined to be contrary to law, it shall not affect other provisions or application of this Ordinance which shall at all times be construed to fully invoke the provisions of Section 403.19 of the Code of Iowa with reference to the Project Area and the territory contained therein. Section 8: This Ordinance shall be in effect after its final passage, approval and publication as provided by law. Passed and approved this 28th day of September 2020. /s/Roy D. Buol, Mayor Attest: Kevin S. Firnstahl, City Clerk Published officially in the Telegraph Herald newspaper on the 2nd day of October 2020. /s/Kevin S. Firnstahl, City Clerk It 10/2