Eagle Window & Door Cert CompliMEMORANDUM
September 9, 2003
TO:
FROM:
SUBJECT:
The Honorable Mayor and City Council Members
Michael C. Van Milligen, City Manager
Eagle Window & Door, Inc. Job Creation Compliance
In September of 2002, the City Council entered into a Loan Agreement with Eagle
Window and Door to assist the Company in the expansion to a new facility on Kerper
Boulevard. A $692,000 forgivable loan was given to the company conditioned on the
Company employing an additional 168 persons, for a total employment of 643 full time
equivalent persons on or before December 31,2003.
Economic Development Director Bill Baum advises that Eagle Window and Door, Inc.
has complied with the Job Attainment Goal of the Public Infrastructure Assistance
Program (PIAP) and recommends releasing Eagle Window and Door, Inc. from any
further obligations under the loan agreement.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
MCVM/jh
Attachment
cc: Barry Lindahl, Corporation Counsel
Cindy Steinhauser, Assistant City Manager
Bill Baum, Economic Development Director
CITY OF DUBUQUE, IOWA
MEMORANDUM
TO:
FROM:
Michael Van Milligen, City Manager
Bill Baum, Economic Development Director
September 8, 2003
SUBJECT: Eagle Window & Door, Inc Job Creation Compliance
INTRODUCTION
This memorandum presents for City Council review and approval a resolution certifying Eagle Window
and Door Compliance with the Job Attainment Obligation of the Public Infrastructure Assistance Program
(PIAP).
BACKGROUND
In September of 2002, the City Council entered into a Loan Agreement with Eagle Window and Door.
Terms of the Agreement, provided to assist the Company in the expansion to a new facility on Kerper
Boulevard included the disbursement of a $692,000 forgivable loan to the Company. These funds were
provided to the City by the Iowa Department of Economic Development.
The forgivable loan is conditioned on the Company employing an additional 168 persons. The
Agreement stipulated that if the Company met the total employment required of 643 full time equivalent
persons on or before December 31, 2003, the City could acknowledge the same, and the company
would be under no further obligation under the PIAP agreement.
DISCUSSION
Attached is a letter from Eagle Window and Door, Inc, certifying the Company has met the Job
Attainment Goal of the PIAP Loan Agreement. I have reviewed the detailed supporting information
and confirmed that for three months this past summer the Company had employment exceeding the
Job Attainment Goal.
RECOMMENDATION
I recommend that the City Council approve the attached Resolution certifying the Company has
compiled with the PIAP loan agreement, releasing the Company from any further obligations under
the loan agreement, and authorizing the City Manager to release the collateral secudng the loan.
Corporation Counsel Barry Lindahl has reviewed correspondence and the Loan Agreement, and
advises the City has the legal authority to execute the resolution.
ACTION STEP
The action step for the City Council is to adopt the attached resolution.
F:\USERS',WBaum~Eagle Wiridow~lemo on Eagle Window and Door (1),doc
EAGLE® WINDOW & DOOR, INC.
ERGL
P.O. 8ox 1072 · 2045 Kerper Bou[evard · Dubuque, IA 52004-1072
Phone (563) 556-2270 · lax (563) 556-4408 · www. eag]ewindow, com
August 25, 2003
Mr. Bill Baum
Department of Community and Economic Development
City Hall, Second Floor
50 West 13th Street
Dubuque, IA 52001
Via Hand Delivery
Dear Bill:
In accordance with paragraph 9.(b) of the Public Infrastructure Assistance Program Loan
Agreement (the "Agreement") between the City of Dubuque, Iowa (the "City") and Eagle
Window & Door, Inc. (the "Company"), dated as of the 26th day of September, 2002, attached
herewith please find a copy of the Company's Statement of Deposits & Filings (the "Statement")
(i.e., "Quarterly Employer's Contribution and Payroll Report" as referenced within the
Agreement) for the second quarter ended June 30, 2003.
Also in accordance with paragraph 9.(b) of the Agreement, and to the best of my knowledge and
belief, I, on behalf of the Company, certify to the City the number of FTE Employees employed
by Company as indicated on page five (5) of the Statement attached herewith.
Further, and pertains to the Employee numbers as indicated on page five (5) of the attached
Statement, I call to your attention the fact that those numbers, i.e., 653 for the month of April
2003, 645 for the month of May 2003 and 668 for the month of June 2003, ail exceed the "Job
Attainment Obligation" requirement of 643 FTE as is stipulated in paragraph 9.(a) of the
Agreement.
Accordingly, this letter also serves to respectfully request the City's acknowledgment that the
Company has complied, and is in compliance, with the "Job Attainment Obligation" as is
referenced above and as is required by the Agreement and the Company shail have no further
obligation under this paragraph 9.(a) of the Agreement. I respectfully ask that you please
execute both originals of this letter in the space provided below to indicate the City's
acknowledgement of the Company's compliance.
On behaif of the Company, I thank you and the City for your cooperation and assistance and look
forward to continuing our relationship.
Please feel free to contact me at (800) 324-5354, ext. 235 with any questions or if the Company
or I need to provide anything further at this time. Thank you.
Giving Vision to Great IdeasTM
Mr. Bill Baum
Page 2
August 25, 2003
Sincerely,
Robert P. Penvose, Jr.
Vice President, Finance and Administration
Acknowledgement of Compliance:
By:
Name:
Title:
Attachment
Cc: Mr. David Beeken, President, Eagle Window & Door, Inc. (w/o attachment)
Mr. Ron Vander Weerd, Vice President, Eagle Window & Door, Inc. (w/o attachment)
RESOLUTION NO. 319-03
RESOLUTION CERTIFYING EAGLE WINDOW & DOOR, INC COMPLIANCE WITH A
PUBLIC INFRASTRUCTURE ASSISTANCE PROGRAM LOAN AGREEMENT BETWEEN
EAGLE WINDOW & DOOR, INC AND THE CITY OF DUBUQUE, IOWA
WHEREAS, the City of Dubuque, Iowa, on September 16, 2002 entered into a Public
Infrastructure Assistance Program (PIAP) Loan Agreement with Eagle Window & Door, Inc
(the Company); and
WHEREAS, Section 9 of the PIAP Loan Agreement requires the Company to take all
actions necessary and required to create a minimum of one hundred sixty eight (168) new
permanent Full Time Job Equivalents with the Company in Dubuque, Iowa on or before
December 31, 2003 (the Job Attainment Goal); and
WHEREAS, Section 9 of the PIAP Loan Agreement states that:
for purposes of determining the extent of employment opportunities created under the
Agreement, the City and the Company agree that a total of four-hundred seventy-five (475)
Full Time Job Equivalents exist with the Company in Dubuque, Iowa...and that if the Company
meets this requirement (i.e. 643 FTE) pdor to December 31, 2003, the City may acknowledge
such compliance and thereafter the Company shall have no further obligation under this
subparagraph (a.); and
WHEREAS, the Company has provided documentation to the City certifying the
Company has, pdor to December 31, 2003, met the Job Attainment Goal.
NOW, THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
DUBUQUE IOWA:
The City of Dubuque acknowledges the Company is in compliance with the
Job Attainment Obligation of the PIAP Loan Agreement, and the Company is
released from any further obligations under the PIAP Loan Agreement.
The City Manager is hereby authorized to disburse final payment from the
PIAP to the Company, and is authorized to execute UCC termination
statements and any other certificates necessary to reflect termination of the
Agreement and the City's rights in pledged collateral
Passed, approved and adopted this 15th day of September, 2003
ATTEST:
Jeanne F. schneider, City Clerk
By:
Terrance M. Duggan, Mayor