Portside Ventures LLC_Termination of Development AgreementMasterpiece on the Mississippi
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: Acknowledgement of Termination of the Development Agreement
between the City of Dubuque, Iowa and Portside Ventures, LLC
DATE: August 9, 2010
Dubuque
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The City of Dubuque entered into a Development Agreement with Port of Dubuque
Adams Development, LLC on January 23, 2006. Port of Dubuque Adams
Development, LLC, assigned the Development Agreement to Port of Dubuque New
Main Development, LLC, which changed its name to Portside Ventures, LLC.
The Development Agreement provided for two phases: the renovation of the Durrant
building, which has been completed, and the construction of a Multiuse Project. The
developer has elected not to proceed with the Multiuse Project.
City Attorney Barry Lindahl recommends City Council approval of an Acknowledgement
of Termination of the Development Agreement between the City of Dubuque and
Portside Ventures, LLC. This will now allow the City to market the property.
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
Dave Heiar, Economic Development Director
Michael C. Van Milligen
THE CITY OF
DUB UE MEMORANDUM
Masterpiece on the Mississippi
BARRY LINDA
CITY ATTORNE
Michael C. Van Milligen
City Manager
To:
DATE: August 4, 2010
RE: Acknowledgment of Termination of the Development Agreement between
the City of Dubuque, Iowa and Portside Ventures, LLC
The City entered into a Development Agreement with Port of Dubuque Adams
Development, LLC on January 23, 2006. Port of Dubuque Adams Development, LLC
assigned the Development Agreement to Port of Dubuque New Main Development,
LLC, which changed its name to Portside Ventures, LLC.
The Development Agreement provided for two phases: the renovation of the Durrant
building and the construction of a Multiuse Project. The Durrant Project has been
completed. The developer has elected not to proceed with the Multiuse Project.
Attached is an Acknowledgment of Termination of the Development Agreement
between the City of Dubuque and Portside Ventures, LLC. I recommend that the
Acknowledgment of Termination be submitted to the City Council for consideration.
BAL:tls
Attachment
cc: Dave Heiar, Economic Development Director
F: \USERS \tsteckle \Lindahl \Portside Ventures\ MVM_ AcknowledgmentOfTerminationOfPortsideVentureDA _080410.doc
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
RESOLUTION NO. 315 -10
APPROVING THE ACKNOWLEDGMENT OF TERMINATION OF THE
DEVELOPMENT AGREEMENT BETWEEN THE CITY OF DUBUQUE, IOWA,
AND PORTSIDE VENTURES, LLC.
Whereas, the City of Dubuque, Port of Dubuque Adams Development,
LLC, and The Durrant Group, Inc., entered into a Development Agreement dated
for reference purposes the 23 day of January, 2006 (the Development
Agreement); and
Whereas, the Development Agreement provided for certain rights,
privileges, obligations and responsibilities of the parties with respect to the
"Durrant Project" and the "Multiuse Project" as described therein;
Whereas, pursuant to Section 16.6 of the Development Agreement, all
aspects of the Development Agreement related to the Multiuse Project were
assigned by Port of Dubuque Adams Development, LLC to Port of Dubuque New
Main Development, LLC, by an assignment a copy of which is attached hereto;
and
Whereas, Port of Dubuque New Main Development, LLC changed its
name to Portside Ventures, LLC (Portside); and
Whereas, the Multiuse Project was to be constructed on the following
described real property:
Lot 1 in Adams Company 4 Addition, in the City of Dubuque, Iowa,
according to the recorded Plat thereof, subject to easements and
restrictions of record (the "Property ").
Whereas, the Multiuse Project portion of the Development Agreement has
expired according to its terms and City desires written confirmation thereof; and
NOW, THEREFORE, IT IS AGREED BY AND BETWEEN THE PARTIES
AS FOLLOWS:
1. The Acknowledgement of Termination attached hereto is approved.
2. The Mayor is authorized and directed to sign the Acknowledgement
of Termination on behalf of the City of Dubuque.
Passed, approved and adopted this 16th day of 010.
ttest: Jeanne F. Schneider, City Clerk
Ro D. „uol, Mayor
F:\ USERS \tsteckle \Lindahl \Portside Ventures\ ResolutionApprovingAcknowledgmentOfTerminationAgreement _080510.doc
Doc ID: 006837460008 Type: GEN
Kind: MISCELLANEOUS
Recorded: 08/19/2010 at 03:36:36 PM
Fee Amt: $44.00 Page i of 8
Dubuque County Iowa
Kathy F1Vnn Thurlow Recorder
File2010-00011990
RECORDER'S COVER SHEET
ACKNOWLEDGMENT OF TERMINATION OF THE DEVELOPMENT AGREEMENT
BETWEEN THE CITY OF DUBUQUE, IOWA,
AND
PORTSIDE VENTURES, LLC
Preparer Information:
Barry A. Lindahl, City Attorney, Suite 330, 300 Main Street, Dubuque, IA 52001,
Phone: (563) 583-4113
Taxpayer Information:
City of Dubuque, Iowa, 50 West 13t" Street, Dubuque, IA 52001
Return Document To:
Jeanne Schneider, City of Dubuque City Clerk, 50 West 13t" Street, Dubuque, IA 52001
Legal Description:
Lot 1 in Adams Company 4t" Addition, in the City of Dubuque, Iowa, according to the
recorded Plat thereof, subject to easements and restrictions of record (the "Property")
Grantors:
Portside Ventures, LLC
Grantees:
The City of Dubuque, Iowa
( gy0C)
�� j CferK
ACKNOWLEDGMENT OF
TERMINATION OF THE
DEVELOPMENT AGREEMENT
BETWEEN
THE CITY OF DUBUQUE, IOWA,
AND
PORTSIDE VENTURES, LLC.
This Acknowledgment is dated for reference purposes the 16th day of
August, 2010.
Whereas, the City of Dubuque, Port of Dubuque Adams Development,
LLC, and The Durrant Group, Inc., entered into a Development Agreement dated
for reference purposes the 23rd day of January, 2006 (the Development
Agreement); and
Whereas, the Development Agreement provided for certain rights,
privileges, obligations and responsibilities of the parties with respect to the
"Durrant Project" and the "Multiuse Project" as described therein;
Whereas, pursuant to Section 16.6 of the Development Agreement, all
aspects of the Development Agreement related to the Multiuse Project were
assigned by Port of Dubuque Adams Development, LLC to Port of Dubuque New
Main Development, LLC, by an assignment a copy of which is attached hereto;
and
Whereas, Port of Dubuque New Main Development, LLC changed its
name to Portside Ventures, LLC (Portside); and
Whereas, the Multiuse Project was to be constructed on the following
described real property:
Lot 1 in Adams Company 4t' Addition, in the City of Dubuque, Iowa,
according to the recorded Plat thereof, subject to easements and
restrictions of record (the "Property").
Whereas, the Multiuse Project portion of the Development Agreement has
expired according to its terms and City desires written confirmation thereof.
Now, therefore, it is confirmed by Portside that:
1. All rights, privileges, obligations and responsibilities of the parties with
respect to the Multiuse Project as described in the Development Agreement have
previously terminated according to the terms of the Development Agreement.
CITY OF D UQUE, IOWA
By:
v,
Roy . Buol, Mayor
By
Jeanne Schneider, City Clerk
PORTSIDE VENTURES, LLC
By
Way A. Briggs, P t
G:\WPDOCS\Angie\DOCS\Portside Ventures -City Termination Agreement.doc
STATE OF IOWA )
SS
COUNTY OF DUBUQUE )
-f�
On this /� day of , 2010, before me a Notary Public
in and for said County, personal& appeared Roy D. Buol and Jeanne F.
Schneider to me personally known, who being duly sworn, did say that they are
the Mayor and City Clerk, respectively of the City of Dubuque, Iowa, a Municipal
Corporation, created and existing under the laws of the State of Iowa, and that
the seal affixed to the foregoing instrument is the seal of said Municipal
Corporation, and that said instrument was signed and sealed on behalf of said
Municipal Corporation by authority and resolution of its City Council and said
Mayor and City Clerk acknowledged said instrument to be the free act and deed
of said Municipal Corporation by it voluntarily execut
Notary Public in and for State of Iowa
V�'^L SUSAN M. WINTER
COMMISSION NO.163274
x r MY COMMISSION EXPIRES
'9 w * 2114111
STATE OF IOWA )
COUNTY OF DUBUQUE ) ss:
4-4
On this q '-- day of2010, before me, a Notary
Public in and for the State of Iowa, personally appeared Wayne A. Briggs, to me
personally known, who being by me duly sworn did say that Wayne A. Briggs is
the President of said limited liability company and that said instrument was
signed on behalf of said limited liability company by authority of its members and
the said Wayne A. Briggs acknowledged the execution of said instrument to be
the voluntary act and deed of said limited liability company, by it voluntarily
executed.
but SMAN J. KANJ E
* Cwwftsion Nhmtber 125M
MY COMMISSION EXPIRES
�96 JANUARY 12, 2013 Notary Publi in and for State of Iowa
RESOLUTION NO. 315 _10
APPROVING THE ACKNOWLEDGMENT OF TERMINATION OF THE
DEVELOPMENT AGREEMENT BETWEEN THE CITY OF DUBUQUE, IOWA,
AND PORTSIDE VENTURES, LLC.
Whereas, the City of Dubuque, Port of Dubuque Adams Development,
LLC, and The Durrant Group, Inc., entered into a Development Agreement dated
for reference purposes the 23rd day of January, 2006 (the Development
Agreement); and
Whereas, the Development Agreement provided for certain rights,
privileges, obligations and responsibilities of the parties with respect to the
"Durrant Project" and the "Multiuse Project" as described therein;
Whereas, pursuant to Section 16.6 of the Development Agreement, all
aspects of the Development Agreement related to the Multiuse Project were
assigned by Port of Dubuque Adams Development, LLC to Port of Dubuque New
Main Development, LLC, by an assignment a copy of which is attached hereto;
and
Whereas, Port of Dubuque New Main Development, LLC changed its
name to Portside Ventures, LLC (Portside); and
Whereas, the Multiuse Project was to be constructed on the following
described real property:
Lot 1 in Adams Company 4t" Addition, in the City of Dubuque, Iowa,
according to the recorded Plat thereof, subject to easements and
restrictions of record (the "Property").
Whereas, the Multiuse Project portion of the Development Agreement has
expired according to its terms and City desires written confirmation thereof; and
NOW, THEREFORE, IT IS AGREED BY AND BETWEEN THE PARTIES
AS FOLLOWS:
a
The Acknowledgement of Termination attached hereto is approved.
2. The Mayor is authorized and directed to sign the Acknowledgement
of Termination on behalf of the City of Dubuque.
Passed, approved and adopted this 16 t h day of t, 010.
Rof D.Is
7uol, Mayor
ttest: Jeanne F. Schneider, City Clerk
F:\USERS\tsteckle\Lindahl\Portside Ventures\ResolutionApprovingAcknowledgmentOfrerminationAgreement 080510.doc
CERTIFICATE OF CITY CLERK
STATE OF IOWA
COUNTY OF DUBUQUE
I, Jeanne F. Schneider, do hereby certify that I am the duly appointed, qualified, and
acting Clerk of the City of Dubuque, Iowa in the County aforesaid, and as such 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 Resolution No. 315-10 is a correct
copy of the original Resolution No. 315-10 approved and adopted by the City Council
of the City of Dubuque, Iowa, at a session held by said Council on the 16th day of
August, 2010.
In Testimony Whereof, I hereunto set my hand and official seal of the City of Dubuque,
Iowa.
Dated at Dubuque, Iowa on this 17th day of August, 2010.
f
7
'
Jeanne F. Schneider, CIVIC
City Clerk