Purchase of Real Estate from River City Development Group LLCCity of Dubuque
City Council Meeting
Action Items # 3.
Copyrighted
September 20, 2021
ITEM TITLE: Purchase of Real Estate from River City Development Group LLC
SUMMARY: City Manager recommending City Council approval of a Resolution
approving an Offer to Buy Real Estate and Acceptance for the purchase
of 156.25 acres of property owned by River City Development Group for
a purchase price of $4,218,750 ($27,000 per acre).
RESOLUTION Approving the acquisition of real estate owned by River
City Development Group LLC in Dubuque County, Iowa
SUGGESTED Suggested Disposition: Receive and File; Adopt Resolution(s)
DISPOSITION:
ATTACHMENTS:
Description Type
River City Development Group Purchase Agreement- City Manager Memo
MVM Memo
Memo Staff Memo
Memo Staff Memo
Resolution Resolutions
Purchase Agreement Supporting Documentation
THE CITY OF
Dubuque
DUB TEE
All -America City
Masterpiece on the Mississippi
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TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: Purchase of Real Estate from River City Development Group LLC
DATE: September 16, 2021
Senior Counsel Barry Lindahl and Economic Development Director Jill Connors
recommend City Council approval of a Resolution approving an Offer to Buy Real
Estate and Acceptance for the purchase of 156.25 acres of property owned by River
City Development Group for a purchase price of $4,218,750 ($27,000 per acre).
River City Development Group LLC (River City) owns 156.25 acres of property in
Dubuque County on the northwest quadrant of the intersection of the Southwest Arterial
and Highways 151/61. Dubuque currently has approximately 425 acres of land
available for industrial development. We have previously determined that a 20-year
supply of industrial park property is about 900 acres in order to be development ready
for opportunities that present themselves. For this reason, it is important when strategic
parcels become available that the City consider acquisition.
City staff became aware of the property having been listed and determined that it would
be an appropriate, viable location for a future industrial park site due to its location and
size. The property is well positioned to attract companies seeking a convenient location
for their operations, as it is adjacent to three 4-lane highways, giving way to a fourth,
Highways 151/61 and Highway 52 (the Southwest Arterial), which gives quick access to
Highway 20. The property is also located only 3 miles from the Dubuque Regional
Airport. Site locators often inquire whether Dubuque has developable land near multiple
vehicular routes and other modes of transportation. This strategic placement fits that
bill.
The property is near existing water and sanitary sewer infrastructure that was extended
along the south side of Highway 61 to serve the airport. Some grading, paving, and
utility infrastructure improvements would need to be made in order to fully serve the
property as an industrial park, but if acquired, these improvement projects would be
added to an ongoing list of needed infrastructure improvements, some of which may be
eligible for federal funding under the American Rescue Plan Act or an anticipated
infrastructure bill.
The City has negotiated a purchase price of $27,000 per acre for 156.25 acres for a
total purchase price of $4,218,750. This land purchase will be financed by extending
the existing industrial park Tax Increment Financing District to encompass this property,
the use of TIF district fund balance of $3,572,880 and land sales revenues that occur
before June 30, 2022 (the end of Fiscal Year 2022) and the balance with Urban
Renewal debt.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
v
Micliael C. Van Milligen
MCVM:jh
Attachment
cc: Crenna Brumwell, City Attorney
Cori Burbach, Assistant City Manager
Barry Lindahl, Senior Counsel
Jill Connors, Economic Development Director
2
THE C
DUjiBaFE
Masterpiece on the Mississippi
BARRY A. LINDAHL, ESQ.
SENIOR COUNSEL
MEMO
To: Michael C. Van Milligen
City Manager
DATE: September 14, 2021
Dubuque
All•Merica Cif
M1.tiift'�Al.i A'A'.If-,v. AA-
2007-2012.2013
2017*2019
RE: Purchase of Real Estate from River City Development Group LLC.
Attached is a Resolution approving an Offer to Buy Real Estate and Acceptance for the
purchase 156.25 acres of property owned by River City Development Group. A location
map is attached to the Offer to Buy Real Estate and Acceptance.
The purchase price for the property is $27,000 per acre for a total of $4,218,750.00.
I recommend that the Resolution be submitted to the City Council for consideration and
approval.
:T_1�11�u
Attachments
cc: Crenna Brumwell, City Attorney
Jill Connors, Economic Development Director
OFFICE OF THE CITY ATTORNEY DUBUQUE, IOWA
SUITE 330, HARBOR VIEW PLACE, 300 MAIN STREET DUBUQUE, IA 52001-6944
TELEPHONE (563) 583-4113 / FAX (563) 583-1040 / EMAIL balesq@cityofdubuque.org
Attachment 1
OFFICE OF THE CITY ATTORNEY DUBUQUE, IOWA
SUITE 330, HARBOR VIEW PLACE, 300 MAIN STREET DUBUQUE, IA 52001-6944
TELEPHONE (563) 583-4113 / FAX (563) 583-1040 / EMAIL tsteckle@cityofdubuque.org
THE CITY OF
-Ii
UB E
Masterpiece on the Mississippi
Dubuque
Economic Development
Department
1300 Main Street
AI�•MBnq
Dubuque, Iowa 52001-4763
Nh7x7VA[ CMV, ITX: IF
1
Office (563) 589-4393
1111
TTY (563) 690-6678
http://www.cityofdubuque.org
2007.2012.2013
2017*2019
TO: Michael C. Van Milligen, City Manager
FROM: Jill M. Connors, Economic Development Director
SUBJECT: Purchase of Real Estate from River City Development Group LLC
DATE: September 15, 2021
INTRODUCTION
The purpose of this memorandum is to provide information regarding property owned by
River City Development Group LLC and requests approval of a resolution authorizing the
purchase of the property.
BACKGROUND
River City Development Group LLC (River City) owns 156.25 acres of property in
Dubuque County on the northwest quadrant of the intersection of the Southwest Arterial
and Highways 151/61. River City had previously listed the property for sale but had
recently removed the active listing, as the property had not sold during the time of the
listing.
DISCUSSION
Dubuque currently has approximately 425 acres of land available for industrial
development. We have previously determined that a 20-year supply of industrial park
property is about 900 acres in order to be development ready for opportunities that
present themselves. For this reason, it is important when strategic parcels become
available that the City consider acquisition.
City staff became aware of the property having been listed and determined that it would
be an appropriate, viable location for a future industrial park site due to its location and
size. The property is well positioned to attract companies seeking a convenient location
for their operations, as it is adjacent to three 4-lane highways, giving way to a fourth,
Highways 151/61 and Highway 52 (the Southwest Arterial), which gives quick access to
Highway 20. The property is also located only 3 miles from the Dubuque Regional Airport.
Site locators often inquire whether Dubuque has developable land near multiple vehicular
routes and other modes of transportation. This strategic placement fits that bill.
The property is near existing water and sanitary sewer infrastructure that was extended
along the south side of Highway 61 to serve the airport. Some grading, paving, and utility
infrastructure improvements would need to be made in order to fully serve the property
as an industrial park, but if acquired, these improvement projects would be added to an
ongoing list of needed infrastructure improvements, some of which may be eligible for
federal funding under the American Rescue Plan Act or an anticipated infrastructure bill.
The City has negotiated a purchase price of $27,000 an acre for 156.25 acres for a total
purchase price of $4,218,750. This land purchase will be financed by extending the
existing industrial park Tax Increment Financing District to encompass this property, the
use of TIF district fund balance of $3,572,880 and land sales revenues that occur before
June 30, 2022 (the end of Fiscal Year 2022) and the balance with Urban Renewal debt.
RECOMMENDATION/ ACTION STEP
I respectfully request Mayor and City Council approval of the attached resolution
authorizing the purchase of the aforementioned 156.25 acres from River City
Development Group LLC.
2
Prepared by Barry A. Lindal, Esq. 300 Main St., Ste. 330, Dubuque IA 52001-6944 (563) 583-4113
Return to Adrienne N. Breitfelder, City Clerk, 50 W. 13th St., Dubuque, IA 52001, (563) 589-4100
RESOLUTION NO. 328-21
APPROVING THE ACQUISITION OF REAL ESTATE OWNED BY RIVER CITY
DEVELOPMENT GROUP LLC IN DUBUQUE COUNTY, IOWA
Whereas, RIVER CITY DEVELOPMENT GROUP LLC is the ownerof the following
real property (the Real Estate):
Lot 2 of WERTZBERGER ACRES NO. 3, in Table Mound Township,
Dubuque County, Iowa, according to the recorded Plat thereof
and
The Southwest '/< of the Northeast ''/<, Lot 1 of the Northwest '/ of the
Northeast 1/4 , Lot 1 of Lot 1 of the Northeast'/ of the Northeast 1/4 , and
Lot 2 of the Southeast '/ of the Northeast '/4, in Section 14, Township 88
North, Range 2 East of the 5th P.M., in Dubuque County, Iowa, according to
United States Government Survey and the recorded Plats thereof,
excepting therefrom all areas taken for highway right of way
TTl
Whereas, the City Manager has tentatively agreed to purchase the Real Estate
from River City Development Group LLC, subject to the approval by the City Council of
an Offer to Buy Real Estate and Acceptance between City and River City Development
Group LLC, a copy of which is attached hereto; and
Whereas, the City Council has determined that it would be in the best interests of
the City to approve the Offer to Buy Real Estate and Acceptance.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
DUBUQUE, IOWA:
Section 1. The City Council hereby approves the Offer to Buy Real Estate and
Acceptance attached hereto.
Section 2. The City Manager and City Attorney are authorized to take such further
action as is required to complete the purchase of the Real Estate.
Passed, approved and adopted this 20th day of September, 2021.
an y C. Sprank, Mayor Pro Tern
Attest:
a2,6� / /• &42g,
Adrienne N. Breitfelder, City Clerk
OFFER TO BUY REAL ESTATE AND ACCEPTANCE
(NONRESIDENTIAL)
TO: RIVER CITY DEVELOPMENT GROUP LLC, Seller:
SECTION 1. REAL ESTATE DESCRIPTION. The City of Dubuque, Iowa (Buyer) offers to
buy real estate in Dubuque County, Iowa, described as follows:
Lot 2 of WERTZBERGER ACRES NO. 3, in Table Mound Township, Dubuque County, Iowa,
according to the recorded Plat thereof,
And
The Southwest'/ of the Northeast'/, Lot 1 of the Northwest'/ of the Northeast 1/4 , Lot 1 of
Lot 1 of the Northeast Y/ of the Northeast 1/4 , and Lot 2 of the Southeast'/ of the Northeast
1/, in Section 14, Township 88 North, Range 2 East of the 5th P.M., in Dubuque County, Iowa,
according to United States Government Survey and the recorded Plats thereof, excepting
therefrom all areas taken for highway right of way
as shown on the exhibit attached hereto
(the Real Estate) together with any easements and appurtenant servient estates, but subject to
the following: a. any zoning and other ordinances; b. any covenants of record; c. any
easements of record for public utilities, roads and highways designated the Real Estate.
SECTION 2. PURCHASE PRICE.
156.25 acres more or less at $27,000 per acre, cash at closing.
TOTAL: $4,218,750.00
SECTION 3. REAL ESTATE TAXES. SELLER shall pay prorated real estate taxes for the
fiscal year in which the closing takes place to the date of possession and any unpaid real estate
taxes payable in prior years. BUYER shall pay all subsequent real estate taxes.
Unless otherwise provided in this agreement, at closing SELLER shall pay BUYER, or
BUYER shall be given a credit for, taxes from the first day of July prior to possession to the date
of possession based upon the last known actual net real estate taxes payable according to public
records. However, if such taxes are based upon a partial assessment of the present property
improvements or a changed tax classification as of the date of possession, such proration shall
be based on the current levy rate, assessed value, legislative tax rollbacks and real estate tax
exemptions that will actually be applicable as shown by the assessor's records on the date of
possession.
SECTION 4. SPECIAL ASSESSMENTS.
A. SELLER shall pay in full at time of closing all special assessments which are a lien
on the Real Estate as of the date of acceptance.
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B. If "A" is stricken, then SELLER shall pay at time of closing all installments of special
assessments which are a lien on the Real Estate and, if not paid, would become delinquent
during the calendar year this offer is accepted, and all prior installments thereof.
C. All charges for solid waste removal, sewage and maintenance that are attributable
to SELLER'S possession, including those for which assessments arise after closing, shall be
paid by SELLER.
D. Any preliminary or deficiency assessment which cannot be discharged by payment
shall be paid by SELLER through an escrow account with sufficient funds to pay such liens when
payable, with any unused funds returned to SELLER.
E. BUYER shall pay all other special assessments or installments not payable by
SELLER.
SECTION 5. RISK OF LOSS AND INSURANCE. SELLER shall bear the risk of loss or
damage to the Real Estate prior to closing or possession, whichever first occurs. SELLER agrees
to maintain existing insurance and BUYER may purchase additional insurance. In the event of
substantial damage or destruction prior to closing, this agreement shall be null and void;
provided, however, BUYER shall have the option to complete the closing and receive insurance
proceeds regardless of the extent of damages. The Real Estate shall be deemed substantially
damaged or destroyed if it cannot be restored to its present condition on or before the closing
date.
SECTION 6. CLOSING. If BUYER timely performs all obligations, Closing shall occur on or
before October 15, 2021, and any adjustments of rent, insurance, interest all charges attributable
to SELLER'S possession shall be made as of the date of Closing.
SECTION 7. FIXTURES. Included with the Real Estate shall be all fixtures that integrally
belong to, are specifically adapted to, or are a part of the real estate, whether attached or
detached. Also included shall be the following: none. The following items shall not be included:
any and all inventory, equipment and other personal property of any type on the premises,
including, but not limited to pallet racks, fertilizer bunker walls and office equipment.
SECTION 8. CONDITION OF PROPERTY. The Real Estate as of the date of this
agreement, including buildings, grounds, and all improvements, will be preserved by the
SELLER in its present condition until possession, ordinary wear and tear excepted. SELLER
makes no warranties, express or implied, as to the condition of the Real Estate.
A. BUYER acknowledges that it has made a satisfactory inspection of the Real Estate
and are purchasing the Real Estate in its existing condition, subject to BUYER'S rights as set
forth in paragraph 10B below.
SECTION 9. ABSTRACT AND TITLE. SELLER, at its expense, shall promptly obtain an
abstract of title to the Real Estate continued through a date within thirty (30) days of the Closing
and deliver it to BUYER'S attorney for examination. It shall show merchantable title in SELLER
in conformity with this agreement, Iowa law, and title standards of the Iowa State Bar
Association. SELLER shall make every reasonable effort to promptly perfect title. If closing is
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delayed due to SELLER'S inability to provide marketable title, this agreement shall continue in
force and effect until either party rescinds the agreement after giving ten (10) days written notice
to the other party. The abstract shall become the property of BUYERS when the Purchase Price
is paid in full. SELLER shall pay the costs of any additional abstracting and title work due to any
act or omission of SELLER, including transfers by or the death of SELLER or its assignees.
SECTION 10. SURVEY. BUYER may, at BUYER'S expense prior to closing, have the Real
Estate surveyed and certified by a registered land surveyor. If the survey shows any
encroachment on the Real Estate or if any improvements located on the Real Estate encroach
on lands of others, the encroachments shall be treated as a title defect.
SECTION 11. ENVIRONMENTAL MATTERS.
A. SELLER represents and warrants that there are no abandoned wells, solid waste
disposal sites, hazardous wastes or substances, underground storage tanks, burial sites, or
private wastewater disposal systems located on the Real Estate, the Real Estate does not
contain radon gas, asbestos or asbestos containing building materials, or urea -formaldehyde
foam insulation, and SELLER has done nothing to cause or allow contamination of the Real
Estate with hazardous wastes, substances, or pollutants. SELLER represents and warrants that
the Real Estate is not subject to any local, state, or federal judicial or administrative action,
investigation or order regarding any environmental matter. SELLER shall provide BUYER with
a properly executed Groundwater Hazard Statement showing no wells, solid waste disposal
sites, hazardous wastes, underground storage tanks, private burial sites or private wastewater
disposal systems on the Real Estate which shall be considered a representation and warranty
made by SELLER to BUYER.
B. SELLER shall, at its sole cost and expense, protect, defend, indemnify, defend,
release, and hold BUYER harmless from and against any and all losses imposed upon or
incurred by or asserted against or suffered by BUYER and directly or indirectly arising out of or
in any way relating to any one or more of the following (except to the extent the same relates
solely to a hazardous substance first introduced to the Real Estate by BUYER): (a) the past,
present, or future presence, release, or threatened release of any hazardous substance in, on,
above, or under the Real Estate; (b) any past, present, or threatened noncompliance or violations
of any federal, state, or local laws now existing or hereafter enacted in connection with the Real
Estate or operations thereon; (c) any legal or administrative processes or proceedings orjudicial
proceedings in any way connected with any matter addressed in Section 15.4(1); (d) any
personal injury, wrongful death, or property or other damage arising under any statutory or
common law or tort law theory concerning any hazardous substances that may exist on the Real
Estate; and (e) any misrepresentation and inaccuracy in any representation or warranty or
material breach or failure to perform any of the covenants or other obligations pursuant to this
Agreement. SELLER acknowledges that losses it is required to indemnify BUYER against
include, but not by way of limitation, any costs reasonably necessary to remediate the Real
Estate to a state in which it does not pose a threat to the public safety, without regard to whether
such remediation is voluntary or is required by a government authority.
C. Within five (5) days after acceptance of this Agreement, SELLER will make
available for BUYER'S review , at no cost to BUYER, all documents in the Possession of
SELLER which are not publicly available, including but not limited to as -built drawings, site plans,
maps, historical records showing past use of the Real Estate and storage of petroleum products
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or other products, reports, studies, investigations, audits, actions, or tests, relating in any way
with the environmental condition of the Real Estate, to the compliance of the Real Estate with
the federal and state environmental laws or the presence of hazardous substances on, at, or
about the Real Estate, including but not limited to those that were: (a) prepared for SELLER or
any related party or affiliate or predecessor in interest; or (b) prepared for other persons or
entities, and are in the possession, custody or control of SELLER or any related party or affiliate
or predecessor in interest (collectively, the "Environmental Documents"). BUYER shall be
entitled to make copies of all such documents, at BUYER'S cost. SELLER authorizes BUYER
to speak to any person involved in the preparation of the Environmental Documents. At no cost
to BUYER, SELLER shall cooperate with BUYER in obtaining reliance agreements, if permitted
under the law, for any previous environmental site assessments or other reports.
D. BUYER may, at BUYER'S expense, within thirty (30) calendar days of Closing
but no later than one (1) day before closing, obtain an environmental site assessment from a
qualified environmental professional regarding the existence or nature of any hazardous
materials, substances, conditions, or wastes located on the Real Estate. If any recognized
environmental concerns are identified by the environmental professional, BUYER'S obligations
hereunder shall be contingent upon SELLER removing such materials, substances, conditions,
wastes, or other concerns identified in the report from the Real Estate in a matter reasonably
satisfactory to BUYER.
E. The parties acknowledge that BUYER is acquiring the Real Estate as an innocent
landowner or bona fide prospective purchaser as the applicable term is used in the
Comprehensive Environmental Response, Compensation and Liability Act, 42 U.S.C. 9601, et.
seq., and SELLER shall freely cooperate with BUYER in obtaining and sustaining that status.
F. These environmental provisions shall survive closing.
SECTION 12. DEED. Upon payment of the purchase price, SELLER shall convey the Real
Estate to BUYER or BUYER'S assignee by Warranty Deed free and clear of all liens, restrictions
and encumbrances, except: zoning ordinances and agreements entered under them, and
easements and restrictions of record, which constitutes merchantable title for purposes of this
transaction. Any general warranties of title shall extend only to the time of acceptance of this
Offer, with special warranties as to acts of SELLER continuing up to time of delivery of the Deed.
SECTION 13. JOINT TENANCY IN PROCEEDS AND IN REAL ESTATE. If SELLER,
immediately preceding acceptance of the offer, holds title to the Real Estate in joint tenancy with
full right of survivorship, and the joint tenancy is not later destroyed by operation of law or by
acts of the SELLERS, then the proceeds of this sale, and any continuing or recaptured rights of
SELLERS in the Real Estate, shall belong to SELLERS as joint tenants with full rights of
survivorship and not as tenants in common; and BUYERS, in the event of the death of any
SELLER, agree to pay any balance of the price due SELLERS under this agreement to the
surviving SELLERS and to accept a deed from the surviving SELLERS consistent with
paragraph 11.
SECTION 14. JOINDER BY SELLER'S SPOUSE. SELLER'S spouse, if not a title holder
immediately preceding acceptance, executes this agreement only for the purpose of
relinquishing all rights of dower, homestead, and distributive share or in compliance with Section
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561.13 of the Code of Iowa and agrees to execute the deed or real estate contract for this
purpose.
SECTION 15. STATEMENT AS TO LIENS. If BUYERS intend to assume or take subject to a
lien on the Real Estate, SELLERS shall furnish BUYERS with a written statement prior to closing
from the holder of such lien, showing the correct balance due.
SECTION 16. USE OF PURCHASE PRICE. At the time of settlement, funds of the Purchase
Price may be used to pay taxes and other liens and to acquire outstanding interests, if any, of
others.
SECTION 17. APPROVAL OF COURT. If the sale of the real estate is subject to court
approval, the fiduciary shall promptly submit this contract for such approval. If this contract is not
so approved, it shall be void.
SECTION 18. REMEDIES OF THE PARTIES.
A. If BUYER fails to timely perform this agreement, SELLER may forfeit it as
provided in the Iowa Code (Chapter 656), and all payments made shall be forfeited; or, a
SELLER'S option, upon thirty (30) days written notice of intention to accelerate the payment of
the entire balance because of BUYER'S default (during which thirty (30) days the default is not
corrected), SELLER may declare the entire balance immediately due and payable. Thereafter
this agreement may be foreclosed in equity and the court may appoint a receiver.
B. If SELLER fails to timely perform this agreement, BUYER has the right to have all
payments made returned to them.
C. BUYER and SELLER are also entitled to utilize any and all other remedies or
actions at law or in equity available to them, and the prevailing party shall be entitled to obtain
judgment for costs and attorney fees.
SECTION 19. NOTICE. Any notice under this agreement shall be in writing and be deemed
served when it is delivered by personal delivery or mailed by certified mail, addressed to the
parties at the addresses given below.
SECTION 20. GENERAL PROVISIONS. In the performance of each part of this agreement,
time shall be of the essence. Failure to promptly assert rights herein shall not, however, be a
waiver of such rights or a waiver of any existing or subsequent default. This agreement shall
apply to and bind the successors in interest of the parties. This agreement shall survive the
closing. This agreement contains the entire agreement of the parties and shall not be amended
except by a written instrument duly signed by SELLER and BUYER. Paragraph headings are for
convenience of reference and shall not limit or affect the meaning of this agreement. Words and
phrases herein shall be construed as in the singular or plural number, and as masculine,
feminine or neuter gender according to the context.
SECTION 21. ADDITIONAL PROVISIONS.
A. This offer is subject to final approval of the City Council of the City of Dubuque,
Iowa, in its sole discretion.
09082021 bal
B. BUYER, its counsel, accountants, agents and other representatives, shall have full
and continuing access to the real estate and all parts thereof, upon reasonable notice to SELLER
for the purpose of inspecting, surveying, engineering, test boring, performance of environmental
tests and such other work as BUYER shall consider appropriate, provided that BUYER shall hold
SELLER harmless and fully indemnify SELLER against any damage, claim, liability or cause of
action arising from or caused by the actions of BUYER, its agents, or representatives upon the
real estate (except for any damage, claim, liability or cause of action arising from conditions
existing prior to any such entry upon the real estate), and shall have the further right to make
such inquires of governmental agencies and utility companies, etc. and to make such feasibility
studies and analysis as BUYER considers appropriate.
C. SELLER shall be responsible for payment of any commission or brokerage fee
arising out of this transaction, which fee shall be payable through the closing proceeds.
D. SELLER warrants that the rights of all tenants shall be terminated by SELLER prior
to closing and that there will be no tenants whose rights in the real estate survive the closing,
except the rights of SELLER as set forth on Exhibit A hereto.
E. Notwithstanding anything to the contrary herein, until ten (10) days prior to the
closing date, BUYER shall have the right to terminate this agreement if environmental issues
exist on the real estate BUYER determines in its sole discretion do not permit BUYER to use the
real estate for its intended use. Prior to terminating this agreement pursuant to this section,
BUYER shall offer SELLER the opportunity to remediate the real estate to the satisfaction of
BUYER in its sole discretion and at SELLER'S sole costs.
SECTION 22. ACCEPTANCE. When accepted, this agreement shall become a binding
contract. If not accepted and delivered to BUYER on or before the 17th day of September, 2021,
this agreement shall be null and void and all payments made shall be returned immediately to
BUYER. If accepted by SELLER at a later date and acceptance is satisfied in writing, then this
agreement s all b alid a d binding.
Accepted Dated ►3 c�
BUYER /`"� �'"" SELLER
CITY OF UBU UE, 10 RIVER TY DEV LOPME T GROUP LLC
By:�� By: INIe� r
Michael C. Van Milligen, City Manager LLQ
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EXHIBIT
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ADDENDUM TO PURCHASE CONTRACT
(ATTACHED TO PURCHASE CONTRACT)
LLC
Buyer:
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Address of Property Being Purchased:
0 Katie Cove, Dubuque, IA 52003
Address City State ZIP
Date of Offer for Real Estate: 9 ( t1 '2 L Z.i
the undersigned Buyer and Seller hereby agree to the following:Listing agent is related to sellers.
The herein agreement, upon its execution by both parties, is herewith made an integral part of the
aforementiongd PylrchasA Contract. All other contract terms are to remain the same.
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Notice to Buyer- Emerald Ash Borer
Property Address0 Katie Cove, Dubuque, IA 52003
Potentially significant costs and aesthetics of a property are at risk due to the Emerald Ash Borer (EAB) — a threat to the ash tree
population in Iowa and surrounding states. Trees add significant value to a property, and transaction values will be greatly impacted by
the loss of any tree. The cost for preventative treatments (approximately $100 - $5000) may need to be considered, as well as the
potential costs for removal (approximately $200- $4000 depending on size and location) of a tree which is infected with EAB, or is
already dying. These factors may need to be evaluated by any potential purchaser of property with ash trees.
Emerald Ash Borer (Agrilus planipennis) is a small green invasive wood boring beetle that attacks and kills ash trees. The adults live
on the outside of ash trees feeding on the leaves during summer months. The larvae look similar to white grubs and feed on the
living plant tissue (phloem and cambium) underneath the bark of the ash trees. The trees are killed by the tunneling activity of the
larvae under the tree's bark, which disrupts the vascular flow.
The Iowa Department of Natural Resources (DNR) announced quarantine for the entire state of Iowa. Preventative treatment of ash
trees with 15 miles of a known case of EAB is recommended. Even though Iowa has been quarantined statewide, Iowans are
encouraged not to transport firewood across county or state lines, since moving firewood poses the greatest threat to quickly
spreading EAB or possibly other pests even further.
The metallic green beetle is native to East Asia and was imported to the United States within the wood of shipping crates from
China. EAB was first discovered in North America near Detroit, Michigan in 2002. Since the first discovery it has also been found in
18 states and Canada.
EAB attacks native ash trees of any size, age or stage of health. Millions of ash trees have already been killed in infested areas.
Much of Iowa and surrounding states forestland is densely populated with ash trees, and Iowa's community street trees are heavily
planted with ash cultivars. Early inventory data indicates that there are 52 million woodland ash trees and 3.1 million urban ash trees.
Many ash trees are in your yard, neighborhood, community and woodlands. Imagine those areas without ash trees. Trees that have
been attacked EAB can die within two years.
Some benefits of urban trees include helping clean the air, slow storm water runoff, raise property values, sequester carbon and
reduce energy costs.
As REALTORS we are not trained in identifying trees. Sellers/Buyers are encouraged to identify the species of trees on their and
nearby property and take particular note of any ash trees. CONTACT AN EXPERT (local arborist, tree salesperson or service) to
correctly determine the type of trees on your property.
Much more information can be found at http://www.iowadnr.gov/environment/forestry/forestheaIth/emeraIdashborer aspx
There are confirmed Ash trees on the property:
I acknowledge receipt of this disclosure
David j Webber, Member of River City Development Group LLC
Print name of Seller/Owner
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Signature of Seller/Owner Date
Dean j Hoffman, Member of River City Development Group LLC
Print Name of Seller/Owner
f r'Si�^"•=•>'e^•�?�•4--+Yy'-=s' 09/f0/11$32A
ND84-fiVl-BNXU-X02U-X027
Signature of Seller/Owner Date
@Copyright 2015 East Central Iowa Multiple Listing Service
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