Letter on Acquiring Site from Five Flags Center Fund_01.05.1977January 5, 1977
Mr. Kenneth Bonnet
O'Connor Brooks and Co.
1415 Locust Street
Dubuque, Iowa 52001
Dear Mr. Bonnet:
This letter is to confirm our conversation of January 4 regarding certain
cash payments to be made by the City of Dubuque to the Dubuque Five
Flags Center Fund.
Under date of August 17, 1976, a bond proposition was duly carried and
adopted at a special election by the voters to construct and equip and
to acquire a site for a civic center. The site for the construction of the
center includes all of the vacant land purchased by and/or under purchase
agreement by the Five Flags Center Fund for the same purpose. Conse-
quently, the City of Dubuque is doing two things to acquire the site from
the Dubuque Five Flags Center Fund.
1. Purchase for $80,257.60 the unimproved portion of lot 1 of
Block 15 in Dubuque Downtown Plaza. This figure is based upon
the same unit price Five Flags paid the City in September of 1975
for the same land. Incidentally, the improved portion of the lot
represents the restored theater which is to be deeded at a later
date without payment to the City.
2. Refund ^9,208.56 deposited by Dubuque Five Flags Center Fund
to secure the purchase of lot 2 of Block 15. Five Flags will be
released from any and all obligation to purchase this lot.
V,e trust this information will accommodate your needs.
Sincerely,
Gent M. Voittenberg
Assistant City Manager
GMVV/jr