Highway 151 & 61 Development_Setting Fair Market Value of 3.3 AcresMasterpiece on the Mississippi
Dubuque
btwil
All- AmedcaCily
2007
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: Bee Branch Creek Restoration Project, Purchase of Commercial Property
DATE: June 29, 2010
On June 5, 2006, the City Council approved a Development Agreement with HWY 151&
61 Development, LLC (HWY 151) that provided public financial assistance and other
considerations for the redevelopment of the former Smithfield property on 16 Street.
The terms of the Development Agreement include the City's acquisition of 3.3 acres
more or Tess of HWY 151 property for the Bee Branch Creek Restoration Project. The
City does need more than 3.3 acres.
City Engineer Gus Psihoyos recommends the City Council establish the fair market
value of the 3.3 acre parcel of HWY 151 & 61 Development, LLC property north of 16
Street at the appraised value of $1,400,000 and authorize the City Manager to begin
negotiations to acquire this property for the Bee Branch Creek Restoration Project.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
MCVM:jh
Attachment
cc: Barry Lindahl, City Attorney
Cindy Steinhauser, Assistant City Manager
Gus Psihoyos, City Engineer
Michael C. Van Milligen
Masterpiece on the Mississippi
Dubuque
klitd
AN- America City
1 1 1 1 i
2007
TO: Michael C. Van Milligen, City Manage
FROM: Gus Psihoyos, City Engineer
SUBJECT: Bee Branch Creek Restoration Project, Purchase of Commercial Property
DATE: June 30, 2010
INTRODUCTION
The purpose of this memo is to establish the fair market value of property owned by
HWY151 & 61 Development, LLC (HWY151) and seek authorization for the City Manager
to begin negotiations to acquire the property required for the Bee Branch Creek
Restoration Project.
BACKGROUND
In December of 2004, the City Council established the alignment for the Bee Branch Creek
Restoration Project, from 15th and Sycamore Streets to 24th and Washington Streets, and
established a building permit moratorium for the properties impacted based on the
alignment. The alignment established the properties necessary to be acquired for the Bee
Branch Creek Restoration Project.
On June 5, 2006 the City Council approved a development agreement (Development
Agreement) with HWY151 that provided public financial assistance and other
considerations for the redevelopment of the former Smithfield property on 16th Street.
DISCUSSION
The terms of the Development Agreement between HWY151 and the City include the
City's acquisition of 3.3 acres more or less of HWY151 property for the Bee Branch Creek
Restoration Project. The City is in need of some additional property north of 16 Street.
The 3.3 acres has been appraised so that the fair market value of the property can be
established. The 3.3 acre parcel that is currently zoned as Planned Commercial was
appraised at $1,400,000 which is roughly $9.74 per square foot.
RECOMMENDATION
I recommend that the City establish the fair market value of the 3.3 acres of HWY151 & 61
Development, LLC property north of 16 Street at the appraised value and that the City
Manager begin negotiations with the property owner.
ACTION TO BE TAKEN
I respectfully request that the City Council adopt the attached resolution establishing the
fair market value of the 3.3 acres of HWY151 & 61 Development, LLC property north of
16 Street and authorizing the City Manager to commence negotiations to acquire the
property.
Prepared by Deron Muehring, Civil Engineer II
cc: Barry Lindahl, City Attorney
Deron Muehring, Civil Engineer II
RESOLUTION NO. 224 - 10
ESTABLISHING THE FAIR MARKET VALUE OF CERTAIN REAL PROPERTY
OWNED BY HWY 151 & 61 DEVELOPMENT, LLC IN THE CITY OF DUBUQUE, IOWA.
WHEREAS, the City of Dubuque (City) intends to acquire certain real property
owned by Hwy 151 & 61 Development, LLC (Owner), legally described as follows (the
Property):
Lot A of Riverview Plaza, in the City of Dubuque, Dubuque County, Iowa
as shown on Exhibit A attached hereto for the purpose of the stormwater conveyance
associated with the restoration of the Bee Branch Creek;
AND WHEREAS, Iowa law requires that City must make a good faith effort to
negotiate with the Owner to purchase the Property before proceeding with condemnation;
AND WHEREAS, City has caused an appraisal of the property to be made and the
appraised value of the property is $1,400,000.00;
AND WHEREAS, the City Council now desires to establish the fair market value of
the property.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF DUBUQUE, IOWA:
1. The fair market value of the Property is hereby established to be $1,400,000.00.
2. The City Manager is hereby authorized to commence negotiations with the
Owner of the Property and any other interested parties for the purchase of the
Property for a purchase price which is not Tess than the fair market value'
established by this resolution.
Passed, approved and adopted this 6th day of July , 2010.
Attest: Jeanne F. Schneider, CMC
City Clerk
Roy D. Buol, Mayor
PREPARED BY:
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EXHIBIT A
IIW ENGINEERS & SURVEYORS P.C, 4155 PENNSYLVANIA AVE,
LOT A
3.300
ACRES
NO CAP
33.38'
CAP NO.
12631
16.56'
- 5.56'
NO CAP
44.47'
CAP NO.
4016
ACQUISITION PLAT
LOT A OF RIVERVIEW PLAZA IN
THE CITY OF DUBUQUE, IOWA
LEGEND
PLAT BOUNDARY
•
FOUND 5/8" IRON ROD
W/ CAP AS NOTED
• FOUND 1" IRON PIPE
® FOUND MONUMENT
AS NOTED
SET 5/8" IRON ROD
W/ CAP NO. 12631
RECORD INFORMATION
vER V�EW P`p,2A
1
L
DUBUOUE, IOWA. (563) 556 -2464
LINE REARING DIST.
L1 NO3'24'21 "E 50.03'
L2 N06'56'26 "E 49.87'
L3 N10'46'04 "E 49.98'
L4 N10'39'28 "E 49.94'
L5 N12'47'41 "E 45.68'
L6 N14'06'46 "E 5.57'
L7 N21'54'32 "E 50.00'
L8 N27'03'48 'E 50.00'
L9 N2816'13 "E 50.00'
L10 N28'48'03 "E 50.00'
L11 N29'53'18 'E 50.00'
L12 N32'20'43 "E 50.00'
L13 N34'54'08 "E 50.00'
L14 N38'47'38 "E 15.74'
L15 516'59'24 "E 32.25'
L16 S09'43'54 "E 61.80'
L17 501'52 "E 61.96'
L18 S06'21'26 "W 61.62'
L19 S12•09'20 "W 61.39'
L20 S19'14'39 "W 55.68'
L21 S20'30'42 "W 48.25'
L22 S14'05'13 "W 38.60'
L23 SOT01'27 "W 38.48'
L24 S00'23'56 "W 38.55'
L25 505'50'35 'E 38.34'
L26 S13'55'19 'E 38.66'
L27 S18'06'20 "E 39.24'
L28 S23'15'32 "E 47.89'
L29 S26'18'52 "E 49.78'
L30 S27'11'25 "E 49.75'
L31 S2819'43 "E 50.48'
L32 S24'38'51 "E 50.49'
L33 S24'50'38 "E 77.63'
NORTH
GRAPHIC SCALE
SURVEYOR'S CERTIFICATE
Sheet 2 of 2
I, John M. Tranmer, a Duly Licensed Land Surveyor in the State of Iowa, do hereby certify that the
following real estate was surveyed and platted by me or under my direct personal supervision, To Wit:
Lot A of Riverview Plaza in the City of Dubuque, Iowa, more particularly described as follows:
Beginning at the Southwest corner of said Riverview Plaza;
Thence Northerly along the Westerly line of said Riverview Plaza the following fifteen (15) courses:
North 23 degrees 45 minutes 07 seconds West, 435.77 feet; North 03 degrees 24 minutes 21 seconds East,
50.03 feet; North 06 degrees 56 minutes 26 seconds East, 49.87 feet; North 10 degrees 46 minutes 04
seconds East, 49.98 feet; North 10 degrees 39 minutes 28 seconds East, 49.94 feet; North 12 degrees 47
minutes 41 seconds East, 45.68 feet; North 14 degrees 06 minutes 46 seconds East, 5.57 feet; North 21
degrees 54 minutes 32 seconds East, 50.00 feet; North 27 degrees 03 minutes 48 seconds East, 50.00 feet;
North 28 degrees 16 minutes 13 seconds East, 50.00 feet; North 28 degrees 48 minutes 03 seconds East,
50.00 feet; North 29 degrees 53 minutes 18 seconds East, 50.00 feet; North 32 degrees 20 minutes 43
seconds East, 50.00 feet; North 34 degrees 54 minutes 08 seconds East, 50.00 feet; North 38 degrees 47
minutes 38 seconds East, 15.74 feet;
Thence South 16 degrees 59 minutes 24 seconds East, 32.25 feet;
Thence South 09 degrees 43 minutes 54 seconds East, 61.80 feet;
Thence South 01 degrees 52 minutes 56 seconds East, 61.96 feet;
Thence South 06 degrees 21 minutes 26 seconds West, 61.62 feet;
Thence South 12 degrees 09 minutes 20 seconds West, 61.39 feet;
Thence South 19 degrees 14 minutes 39 seconds West, 55.68 feet;
Thence South 20 degrees 30 minutes 42 seconds West, 48.25 feet;
Thence South 14 degrees 05 minutes 13 seconds West, 38.60 feet;
Thence South 07 degrees 01 minutes 27 seconds West, 38.48 feet;
Thence South 00 degrees 23 minutes 56 seconds West, 38.55 feet;
Thence South 05 degrees 50 minutes 35 seconds East, 38.34 feet;
are Thence South 13 degrees 55 minutes 19 seconds East, 38.66 feet;
Thence South 18 degrees 06 minutes 20 seconds East, 39.24 feet;
Thence South 23 degrees 15 minutes 32 seconds East, 47.89 feet;
Thence South 26 degrees 18 minutes 52 seconds East, 49.78 feet;
Thence South 27 degrees 11 minutes 25 seconds East, 49.75 feet;
Thence South 28 degrees 19 minutes 43 seconds East, 50.48 feet;