Radford Road Urban Renwal Area_HearingCopyrighted
S eptember 28, 2020
City of Dubuque
Special Meeting Public Hearings # 1.
IT E M T I T L E:Radford Road Urban Renewal A rea
S UM M ARY:Proof of publication on notice of public hearing to consider approval of a
proposed Urban Renewal Plan (the “P lan”) for the Radford Road Urban
Renewal District (the “District”), and the City Manager recommending
approval.
RE S O L UT I O N A pproving the amended and Restated Urban Renewal
Plan for the Radford Road E conomic Development District
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; A dopt Resolution(s)
AT TAC H ME N TS:
Description Type
Radford Road Urban Renewal Plan-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
Recommendation Supporting Documentation
Resolution Resolutions
Proof of Publication Supporting Documentation
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: Urban Renewal Plan for the Radford Road Urban Renewal District
DATE: September 24, 2020
Economic Development Director Jill Connors is recommending approval of an Urban
Renewal Plan for the Radford Road Urban Renewal District.
On September 8, 2020 the City Council approved a Resolution of Necessity finding that
the proposed area was an economic development area and appropriate for urban
renewal activities. Staff has prepared the Plan for the area as per the directive of the
City Council.
The Plan was reviewed by the Long Range Planning Commission on September 16,
2020. The Long Range Planning Commission has forwarded its recommendation to the
City Council affirming that the Plan is consistent with the City’s Comprehensive Plan for
development.
The Plan will create a district to include property adjacent to Radford Road near Wolff
Road. The plan would provide this area with access to the tools and incentives
available to urban renewal district properties, including tax increment financing.
The primary goal of the Plan is to stimulate, through public involvement and
commitment, private investment in new housing and residential development. 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 Plan aligns with Imagine Dubuque’s call to, “foster the development of new and
additional housing products in suitable locations throughout the City” and the Council’s
goal—Livable Neighborhoods and Housing: Great Place to Live.
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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
Alexis Steger, Housing & Community 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: Urban Renewal Plan for the Radford Road Urban Renewal District
DATE: September 21, 2020
INTRODUCTION
This memorandum presents for City Council consideration a resolution approving an
Urban Renewal Plan (the “Plan”) for the Radford Road Urban Renewal District (the
“District”). The District would include property adjacent to Radford Road near Wolff
Road. The Plan and Resolution adopting the Plan are attached.
BACKGROUND
On September 8, 2020 the City Council approved a Resolution of Necessity finding that
the proposed area was an economic development area and appropriate for urban
renewal activities. Staff has prepared the Plan for the area as per the directive of the
City Council.
A consultation process was conducted with the affected taxing bodies as required by
Iowa State Law. The required consultation with affected taxing bodies was held on
September 14, 2020. No objections were received.
The Plan was reviewed by the Long Range Planning Commission on September 16,
2020. The Long Range Planning Commission has forwarded its recommendation to the
City Council affirming that the Plan is consistent with the City’s Comprehensive Plan for
development.
DISCUSSION
The Plan will create a district to include property adjacent to Radford Road near Wolff
Road (see Attachment A of the Urban Renewal Plan for a map). The plan would
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provide this area with access to the tools and incentives available to urban renewal
district properties, including tax increment financing.
The primary goal of the Plan 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 Plan aligns with Imagine Dubuque’s call to, “foster the development of new and
additional housing products in suitable locations throughout the City” and the Council’s
goal—Livable Neighborhoods and Housing: Great Place to Live.
RECOMMENDATION/ ACTION STEP
I recommend the City Council adopt the attached Resolution creating an Urban
Renewal Plan for the Radford Road Urban Renewal District.
Prepared By: Jill Connors, ED City of Dubuque 50 W. 13th St. Dubuque, IA 52001 (563) 589-4393
Return To: Kevin Firnstahl, City Clerk City of Dubuque 50 W. 13th St. Dubuque, IA 52001 (563) 589-4121
RESOLUTION NO. 305-20
APPROVING THE AMENDED AND RESTATED URBAN RENEWAL PLAN FOR THE
RADFORD ROAD ECONOMIC DEVELOPMENT DISTRICT
Whereas, by Resolution 282-20 on September 8, 2020, the City Council of the City
of Dubuque, Iowa authorized the preparation of an Urban Renewal Plan for the Radford
Road Economic Development District (the "District"); and
Whereas, the City of Dubuque's primary objective for the Urban Renewal Plan is
to provide opportunities which will further economic development purposes and
objectives; and
Whereas, a consultation process has been undertaken with affected taxing entities
in accordance with Chapter 403 of the Code of Iowa with no written objections or
recommended changes to the Urban Renewal Plan received; and
Whereas, the City Council, in accordance with Chapter 403 of the Code of Iowa,
has held a public hearing on the proposed Urban Renewal Plan.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF DUBUQUE, IOWA:
Section 1. That the Urban Renewal Plan for the Radford Road Economic
Development District, on file in the City Clerk's Office and made reference to herein, is
hereby approved.
Section 2. That the City Clerk of the City of Dubuque, Iowa is hereby authorized
and directed to file a certified copy of this Resolution in the office of the Dubuque County
Auditor.
[signature page follows]
092120ba1
Passed, approved and adopted this 28th day of September 202
Roy D. Buol, Mayor
Attest:
Kevi Firnstahl, ity 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
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TABLE OF CONTENTS
A. INTRODUCTION
B. JUSTIFICATION FOR THE DESIGNATION
C. OBJECTIVES OF THE PLAN
D. DISTRICT BOUNDARIES
E. PUBLIC PURPOSE ACTIVITIES
F. PUBLIC BUILDING ANALYSIS
G. DEVELOPMENT AND REDEVELOPMENT REQUIREMENTS
1. LAND USE
2. PLANNING AND DESIGN CRITERIA
H. LAND ACQUISITION AND DISPOSITION
I. RELOCATION REQUIREMENTS
J. FINANCING ACTIVITIES
K. STATE AND LOCAL REQUIREMENTS
L. DURATION OF APPROVED URBAN RENEWAL PLAN
M. SEVERAB!L !TY
N. AMENDMENT OF APPROVED URBAN RENEWAL PLAN
O. ATTACHMENTS
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.
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D. DISTRICT BOUNDARIES
The District is located within the City of Dubuque, County of Dubuque, State of Iowa.
The boundaries of the District are delineated on the Map, Attachment A, also on file at the
Dubuque City Clerk's Office.
The description of the boundaries of the District is attached as Attachment D to this Plan.
The City reserves the right to modify the boundaries of the District at some future date. Any
amendments to, or restatements of, the Plan will be completed in accordance with Chapter
403 of the Iowa Code, Urban Renewal Law.
E. PUBLIC PURPOSE ACTIVITIES
To meet the OBJECTIVES of this Plan, the City of Dubuque is prepared to initiate and
support development and redevelopment of the District through the following PUBLIC
PURPOSE ACTIVITIES:
1. Improvement, installation, construction and reconstruction of streets, utilities
and other improvements and rights -of -ways
2. Use of tax increment financing, loans, grants and other appropriate financial
tools in support of eligible public and private development and redevelopment
efforts;
a. These activities include, but are not limited to, the funding of economic
development grants for qualified residential creation projects.
3. Direct assistance to businesses to incentivize private investment and/or job
growth and/or to remediate blighted conditions on undeveloped and
underdeveloped properties:
a. These activities include, but are not limited to, property tax rebate
agreements with:
• Gardens of Dubuque, LLC for the development of a mixed -
income residential property in an amount approximately equal
to $1,100,000 to incentivize this $10 million development.
4. Enforcement of applicable local, state and federal laws, codes and
regulations.
5. The City expects to consider requests for additional development
agreements for projects that are consistent with this Plan, in the City's sole
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discretion. 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.
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2. Land Disposition: Publicly held land will be sold or leased for the development of
viable uses consistent with this Plan, and not for purposes of speculation.
Land will be disposed of in accordance with the requirements set forth in Chapter 403 of
the Iowa Code, Urban Renewal Law. Developers and redevelopers will be selected on the
basis of the quality of their proposals and their ability to carry out such proposals while
complying with the requirements of this Plan.
Developers and redevelopers will be required by contractual agreement to observe the
Land Use Requirements and Planning and Design Criteria of this Plan. The contract and
other disposition documents will set forth the provisions, standards and criteria for
achieving the objectives and requirements outlined in this Plan.
I. RELOCATION REQUIREMENTS
Relocation assistance in accordance with applicable provisions of Chapter 316 of the Iowa
Code, Highway Relocation Assistance Law, will be provided in the event that an existing
business or residence is displaced by publicly supported development or redevelopment
activities.
J. FINANCING ACTIVITIES
To meet the OBJECTIVES of this Plan and to encourage the development and
redevelopment of the District and private investment therein, the City of Dubuque is
prepared to provide financial assistance to qualified industries, businesses and housing
developers through the making of loans or grants under Chapter 15A of the Iowa Code and
through the use of tax increment financing under Chapter 403 of the Iowa Code.
1. Chapter 15A Loan or Grant: The (City has determined that the making of loans or
grants of public funds to qualified industries, businesses and housing developers is
necessary to aid in the planning, undertaking and completion of urban renewal projects
authorized under this Plan within the meaning of Section 384.24(3)(q) of the Iowa Code.
Accordingly, in furtherance of the objectives of this Plan, the City may determine to issue
bonds or loan agreements, in reliance upon the authority of Section 384.24A, Section
384.24(3)(q), Section 403.12 (general obligation bonds) or Section 403.9 (tax increment
bonds), for the purpose of making loans or grants of public funds to qualified entities
located within the District. Alternatively, the City may determine to use available funds for
the making of such loans or grants. In determining qualifications of recipients and whether
to make any such individual loans or grants, the City shall consider one or more of the
factors set forth in Section 15A.1 of the Iowa Code on a case -by -case basis.
2. Tax Increment Financing: The City is prepared to utilize tax increment financing,
authorized under Iowa Code Section 403.19 and current City ordinance, as a means of
financing eligible costs incurred to implement the Public Purpose Activities identified in
Section E of this Plan. Bonds or loan agreements may be issued by the City under the
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authority of Section 403.9 of the Iowa Code (tax increment bonds) or Section 384.24A,
Section 384.24(3)(q) and Section 403.12 (general obligation bonds).
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. Preservation, conservation, development or redevelopment of buildings or
facilities within the District to be sold or leased to qualifying for -profit and not -for -
profit organizations, developers and businesses;
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f. Loans or grants to qualified entities under Chapter 15A of the Iowa Code,
including debt service payments on any bonds issued to finance such loans or
grants, for purposes of expanding the business or activity, or other qualifying loan
programs established in support of the Plan; and
g. Providing the matching share for a variety of local, state and federal grants
and loans.
h. Any of the costs incurred in connection with any of the PUBLIC PURPOSE
ACTIVITIES described in Section E of this Plan.
3. Proposed Amount of Indebtedness: At this time, the extent of improvements and
new development within the District is only generally known. As such, the amount and
duration for use of the tax increment revenues for public improvements and/or private
development can only be estimated; however, the actual use and amount of tax increment
revenues to be used by the City for District activities will be determined at the time specific
development is proposed, and approved by the City Council.
The estimated project costs are estimates only and will be incurred and spent over a
number of years. In no event will the City's debt limit be exceeded. The City Council will
consider each project proposal on a case -by -case basis to determine if it is in the City's
best interest to participate before approving an urban renewal project or expense. It is
further expected that such indebtedness, including interest on the same, may be financed
in whole or in part with tax increment revenues from the District. Subject to the foregoing, it
is estimated that the cost of the eligible urban renewal projects as described above and the
outstanding indebtedness will be approximately $5,000,000. This total does not include
financing costs related to debt issuance, which will be incurred over the life of the Area.
The City of Dubuque's current indebtedness subject to the statutory debt limit is
$111,687,827 (a list of the outstanding obligations is found as Attachment C) and the
current constitutional debt limit is $239,298,248.
K. STATE AND LOCAL REQUIREMENTS
All provisions necessary to conform with state and local laws have been complied with by
the City of Dubuque in the implementation of this Plan and its supporting documents.
L. DURATION OF APPROVED URBAN RENEWAL PLAN
This Plan shall continue in effect until terminated by action of the City Council, but in no
event shall terminate before the City of Dubuque has received full reimbursement from all
incremental taxes for its advances and principal and interest payable on all Tax Increment
Financing or general obligations issued to carry out the OBJECTIVES of the Plan.
However, the use of tax increment financing revenues by the City for the public purpose
activities carried out under this Plan shall be limited as deemed appropriate by the City
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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
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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 - Parks Projects - FY20 Future 4.00% 2040 283,000 283,000 4,859 11,320 278,141
GDTIF - DT Parking Ramp - FY20 Future 4.50% 2040 1,500,000 1,500,000 24,428 67,500 1,475,572
GDTIF Eng Dock Expansion - FY21 Future 4.00% 2041 406,000 - - - 406,000
GDTIF Parks Jackson Park Amenities-21 Future 4.00% 2041 250,000 - - 250,000
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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
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Attachment D
Radford Road Economic Development District
Dated August 27, 2020
District Boundary Description
The District shall include the following described area:
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
1
MINUTES
CONSULTATION WITH AFFECTED TAXING BODIES for the Radford Road URBAN
RENEWAL PLAN for the Greater Downtown Urban Renewal District
Monday, September 14, 2020 at 1:30 p.m.
GoToMeeting Conference Line
Line Number: (312) 757-3121
Room: 721-133-221
Meeting Commenced: 1:30 p.m.
Present: Megan Bonert, Bill Burkhart, Denise Dolan, Kevin Kelleher
City Staff gave a brief explanation regarding the Gardens of Dubuque housing complex.
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