Tax Increment Financing ReportMEMORANDUM
November 20, 2003
TO:
The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: Annual Tax increment Financing Report
Economic Development Director Bill Baum is submitting the first annual summary report
on the City's use of Tax Increment Financing (TIF) to support pdvate economic
development projects. This report will provide a 20-year perspective on the City's use
of this important economic development tool. Several attachments provide both a
chronology and graphic illustration of TIF-assisted private projects to date. Also
included is Administrative Services Manager Pauline Joyce's annual urban renewal
project report that is filed with the County Auditor by December 1~t of each year and
identifies both the public and pdvate TIF-eligible expenditures for which tax increment
reimbursement is sought.
The ability to use TIF to assist pdvate economic development projects in urban renewal
districts has become a very useful financing tool and incentive for private investment in
urban renewal districts. TIF has allowed the City to assist private economic
development projects based on the new property tax increment created by the projects
themselves. The City is able to capture the new taxable value created by a project and
use the new property taxes generated from that new value (the new "tax increment") to
assist a project directly. The property taxes generated by the original valuation of the
property prior to the improvement continue to be paid to the different taxing jurisdictions.
Since 1983, the City has approved assistance to 21 private projects (3 pending) in the
form of either: 1) an up-front financial grant through a bond instrument repaid with 10
years of the new property tax increment; or 2) a commitment of up to 10 years rebate of
the new property tax increment directly back to the property owner.
Over the twenty years that the City has approved private TIF projects, new investment
has occurred across the city in ten urban renewal districts. Over that time, two of the
ten districts have been discontinued after successful completion of the district's
purpose. For the 21 pdvate projects directly assisted with TIF, over $105,400,000 in
new private development was invested in the districts. The TIF assistance accounted
for 15%, or $15,765,000, of the total investment. That is almost a 7:1 pdvate to public
dollar match which doesn't include the other pdvate investment that has occurred in
these districts without direct TIF incentives, the spinoff development.
All of the City's TIF projects from 1999 to the present have been subject to specific
Development Agreements and have often involved the sale of City-owned property in
the newly constructed industrial parks or downtown. Very specific terms and conditions
are included in the Development Agreements, including job creation/retention. All of the
TIF projects approved during this time period have exceeded total job creation goals by
the stated completion date, with one extension granted. The timeline for reaching the
goals has not yet expired for five of the companies. The current total employment for
eleven of the twelve companies is 2,697. The required commitment for new and
retained jobs for those same companies was 2,620.
By December 1~t of each year, the City's Administrative Services Manager files a report
with the County Auditor certifying TIF-eligibie expenses for urban renewal projects in the
various urban renewal districts for which the City seeks reimbursement from the tax
increment. Since 1983, the total qualifying expenses in all districts is $69,013,645. This
includes both private projects and public projects. To date, the City has received
$14,539,403 in reimbursements from the tax increment (21% of total TI F-eligible
expenses).
Of the total qualifying expenses, approximately 75% has been spent on public urban
renewal projects and purposes, including new industrial park development, opening
Main Street, new parking ramps and the America's River project. The $17,960,000
committed to private economic development projects ($15,765,000 to the private
companies identified in this report plus $2,195,000 committed to the Downtown
Rehabilitation Loan Program) has accounted for less than 26% of the total TIF
expenditures.
The City's 20-year experience with tax increment financing has provided valuable
resources for both public and private reinvestment and renewal in the community. A
review of the record shows a responsible track record of commitment to important
economic development projects with an expectation of long-term real property
investment and job creation. The City has provided urban renewal opportunities in both
the older parts of the community and new 'greenfield' sites to ensure balanced
development in all parts of the city. Tax increment financing has been a critical tool for
the City and its overall economic development strategy.
Michael C. Van Milligen
MOVM/jh
Attachment
cc: Barry Lindahl, Corporation Counsel
Cindy Steinhauser, Assistant City Manager
William Baum, Economic Development Director
CITY OF DUBUQUE, IOWA
MEMORANDUM
November 19, 2003
TO:
FROM:
SUBJECT:
Michael Van Milligen, City Manager
William Baum, Economic Development Director
ANNUAL Tax Increment Financing REPORT
Introduction
This memorandum transmits to the City Council the first annual summary report on the
City's use of Tax increment Financing (TIF) to support private economic development
projects. This report will provide a 20-year perspective on the City's use of this
important economic development tool. Several attachments provide both a chronology
and graphic illustration of TIF-assisted private projects to date. Also included is
Administrative Services Manager Pauline Joyce's annual urban renewal project report
that is filed with the County Auditor by December 1st of each year and identifies both the
public and private TIF-eligible expenditures for which tax increment reimbursement is
sought.
Discussion
State Authodzation
The Iowa Code provides that cities can use TIF for certain public and private economic
development purposes once an urban renewal plan is approved and an urban renewal
district is established. Traditionally, urban renewal projects involved public purpose
activities related to the elimination of "slum and blight." Urban renewal law was
expanded to allow other "economic development" activities, including direct grants and
loans to private persons/parties for economic development projects that created new
jobs and investment in designated urban renewal districts which did not have to be
"slum and blight" areas.
Urban renewal authority was first used by the City in the late 1960's to transform the
downtown into a pedestrian mall and to provide several city blocks of cleared ground for
new redevelopment. This traditional use of urban renewal authority primarily provided
for new public infrastructure (utilities, streets, parking ramps) that ultimately supported
private reinvestment in the downtown. Not until 1983 did the City use TIF directly for
private economic development purposes.
Pdvate Economic Development Purposes
The ability to use TIF to assist private economic development projects in urban renewal
districts has become a very useful financing tool and incentive for private investment in
urban renewal districts. TIF has allowed the City to assist private economic
development projects based on the new "tax increment" created by the projects
themselves. The City is able to capture the new taxable value created by a project and
use the new property taxes generated from that new value (the new "tax increment") to
assist a project directly. Since 1983, the City has approved assistance to 21 private
projects (3 pending) in the form of either: 1) an up-front financial grant through a bond
instrument repaid with 10 years of the new tax increment property taxes; or 2) a
commitment of up to 10 years rebate of the new tax increment property taxes directly
back to the property owner.
The decision to limit the City's TIF commitments to 10-year terms has been a general
City Council policy. The maximum length of any commitment would be based on the
individual urban renewal district's duration.
Local TIF Projects
Over the twenty years that the City has approved private TIF projects, new investment
has occurred across the city in ten urban renewal districts. Over that time, two of the
ten districts have been discontinued after successful completion of the district's
purpose. For the 21 private projects directly assisted with TIF, over $105,400,000 in
new development was invested in the districts. The TIF assistance accounted for 15%,
or $15,765,000, of the total investment. That is almost a 7:1 private to public dollar
match which doesn't include the other private investment that has occurred in these
districts without direct TIF incentives, the spinoff development.
Job creation/retention is also an important policy consideration when providing TIF
incentives. The project files for the early years, 1983-1991, are closed and no records
are readily available on the job creation/retention requirements or goals for those
projects that were all funded with TIF bonds. Five projects in years 1996-1998 did not
have specific job creation/retention requirements or goals written into their agreements.
They were the first TIF rebate projects. In several instances, the projects received other
assistance (e.g., CEBA or CDBG loans) that did have specific job creation
requirements.
All of the City's TIF projects from 1999 to the present have been subject to specific
Development Agreements and have often involved the sale of City-owned property in
the newly constructed industrial parks or downtown. Very specific terms and conditions
are included in the Development Agreements, including job creation/retention. Except
for one project that has been given a time extension to meet job creation goals prior to
any penalties being assessed, all of the TIF projects approved during this time period
have exceeded total job creation goals by the stated completion date. The timeline for
reaching the goals has not yet expired for five of the companies. The current total
employment for eleven of the twelve companies is 2,697. The required commitment for
new and retained jobs for those same companies was 2,620.
Two of the TIF projects did not have specific job creation requirements due to the
unique circumstances of the projects. DAIDC's spec building project could not be
required to create jobs because the project itself was to build an empty building for a
future user. To date, however, the building's tenant has 25 employees. The Adams
Company TIF, to assist construction of a new building for the relocation of the company
to the Dubuque Industrial Center West from the redeveloping Port of Dubuque, resulted
from public action with no obligations required of the company. The TIF bond for this
project has not yet been funded.
Annual Urban Renewal Project Report filed with County Auditor
By December 1st of each year, the City's Administrative Services Manager files a
lengthy report with the County Auditor certifying TIF-eligible expenses for urban renewal
projects in the various urban renewal districts for which the City seeks reimbursement
from the tax increment. Since 1983, the total qualifying expenses in all districts is
$69,013,645. This includes both public and private projects. To date, the City has
received $14,539,403 in reimbursements from the tax increment (21% of total TIF-
eligible expenses).
Of the total qualifying expenses, approximately 75% has been spent on public urban
renewal projects and purposes, including new industrial park development, opening
Main Street, new parking ramps and the America's River project. The $17,960,000
committed to private economic development projects ($15,765,000 to the private
companies identified in this report plus $2,195,000 committed to the Downtown
Rehabilitation Loan Program) has accounted for less than 26% of the total TIF
expenditures.
Summary
The City's 20-year experience with tax increment financing has provided valuable
resources for both public and private reinvestment and renewal in the community. A
review of the record shows a responsible track record of commitment to important
economic development projects with an expectation of long-term real property
investment and job creation. The City has provided urban renewal opportunities in both
the older parts of the community and new 'greenfield' sites to ensure balanced
development in all parts of the city. Tax increment financing has been a critical tool for
the City and its overall economic development strategy.
Action Step
The action step for the City Council is to receive and file this annual report.
attachments
F:\USERS~Pmyhre\WPDOCS\UR\TIFREPORTrnemo.rnvm.doc
TIF Chronology - 20 Years of Private Investment
Year Company AmounfJType of TIF
1983 Security Building $ 360,000 Bond *
1988 Metrix $ 125,000 Bond
1991 Nordstrom
Cladon Hotel
$1,000,000 Bond
$1,200,000 Bond
1996 Precision Tool $ 115,000 Rebate
1997 Weber Paper $ 150,000 Rebate
Swiss Valley Farms 10 yr. Rebate *** (est. $0 ^)
1998 Mordson Bros.
TFM
10 yr. Rebate (est. $187,000)
$ 104,000 Rebate
1999
Eag~Window & Door
Advanced Data-Comm
Ca~eGmph
CIGNA
$3,200,000 Bond
$ 900,000 Bond
$ 360,000 Bond
10 yr. Rebate
(est. $2,700,000)
2000
DAIDC Spec Building 10 yr. Rebate
(est. $406,000)
2001
McGraw-Hill
10 yr. Rebate
(est. $2,800,000)
2002
Giese Manufacturing
Heartland Financial
Quebecor Wodd
10 yr. Rebate
10 yr. Rebate
10 yr. Rebate
(est. $290,000)
(est. $478,000)
(est. $600,000)
2003
Vessel Systems
Adams Company
Weber Building
$ 140,000 Bond (pending)
$ 500,000 Bond (pending) ^^
$ 150,000 Bond (pending)
TOTAL:
$15,765,000
for privateeconomic development projects
(plus $2,195,000forthe Downtown Rehab
Loan Program)
* A bond is issued to generate up-front cash for a project. The new property taxes
generated by the project's new assessed value (the tax increment) are captured over a
10 year pedod to repay the bond. The property owner pays taxes due, the taxes are
sent to the City, the City pays the bond holder (typically a local bank) from the tax
increment.
** 100% rebate (except for debt service levies) of the new property taxes generated by
the project's new assessed value (the tax increment) provided to the property owner
only until that time when the predetermined maximum amount of rebate is reached,
typically 5-10 years. The property owner pays taxes due, the taxes (minus debt service)
are sent to the City, the City rebates the tax increment to the property owner.
*** 100% rebate (except for debt service levies) of the new property taxes generated by
the project's new assessed value (the tax increment) for a full 10 year period. The
property owner pays taxes due, the taxes (minus debt service) are sent to the City, the
City rebates the tax increment to the property owner.
^ Due to the elimination of Machinery and Equipment from the property tax calculation,
Swiss Valley Farms had a roll back of taxes. The new assessed value created by their
expansion project, which would have created the tax increment, is still below the original
tax basis.
^^ Adams Co. amount is equal to difference in purchase pdce and cost of new building.
F:~,USERS',Pmyh re~,WPDOCS~,UR~TIF charlZdoc
Year
1983
1988
1991
1996
1997
1998
1999
2OOO
2001
2002
2003
Company
Security Building
Metrix
Nordstrom
Clarion Hotel
Precision Tool
Weber Paper
Swiss Valley Farms
Morrison Bros.
TFM
Eagle Window & Door
Advanced Data-Comm
CarteGraph
CIGNA
DAIDC Spec Building
McGraw-Hill
Giese Manufacturing
Heartland Financial
Quebecor
Vessel Systems
Adams Company
Weber Building
20 Year TOTALS
TIF PROJECTS - Private Investment and Job Creation
New Jobs Jobs to be
ProjectValue TIF Amount Retained Created
$ 360,000
By Date
2003 Jobs
$ 125,000
$5,000,000 $1,000,000
$9,100,000 $1,200,000
[FILES CLOSED FOR THESE PROJECTS]
Penalty
I Job
$1,100,000 $ 115,000
$1,200,000 $ 150,000
$5,500,000 $ 0
$2,000,000 $ 187,000
$1,300,000 $ 104,000
[NO SPECIFIC JOB REQUIREMENT FOR
THESE PROJECTS BECAUSE SOME HAD
OTHER LOANS (CEBA, CDBG, EDA) THAT
REQUIRED JOB CREATION]
$15,000,000 $3,200,000
$ 6,000,000 $ 900,000
$ 2,000,000 $ 360,000
$10,000,000 $2,700,000
$1,400,000 $ 406,000
$10,000,000 $2,800,000
$ 1,000,000 $ 290,000
$ 5,000,000 $ 478,000
$24,000,000 $ 600,000
$1,000,000 $ 140,000
$2,800,000 $ 500,000
$2,000,000 $ 150,000
$105,400,000+ $15,765,000
In new in TIF
investment incentives
(15% of new
investment)
475
317
120
320
0
100
31
255
230
168 12/31/03 668
51 12/01/01 540
80 01/01/02 59
200 03/31/02 685
NO REQUIREMENT
25
10 10/15/03 118
10 03/04/05 53
45 12/31/08 274
106 03/31/05 306
24 25
53 NO REQUIREMENT
PENDING
$3360
$ 0
$1300
$2250
t,925 695 = 2,620
retained new total
jobs jobs Jobs
pledged
$7729
$5707
$1062
$ 134
060/2/06 24 $3908
53
2,697
current
total
jobs
F:\USERS~Pmyhre~WPDOCS\UR\TiF chart3,1.doc
ECONOMIC DEVELOPMENT TIF PROJECTS
by Urban Renewal District
Downtown
Security Building
Clarion Hotel
CIGNA
TFM
Heartland Financial
Weber Building (pending)
Historic Property Tax Rebate
Town Clock Building
Bricktown
Downtown Rehabilitation Loan Program
Bakey Kitchens/Reim House
Grand Opera House (2)
Atlast Fluid Power
Cinema X Building
Security Building
Dubuque Museum of Art
Jorga's Restaurant
Iowa Inn
Pepper Sprouts
Bricktown
Town C~ock Building
Walsh Store (pending)
Gronen Upper Main Buildings (pending)
Weber Building (pending)
Fa~:ade Grants
Capri Cosmetology
Pepper Sprouts
Ellen's Floral
Butt's Florist
Bricktown
McCoy Jewelers
Fischer Office Building
Cinema X
Canvas Products
Old Main Hotel
Atlast Fluid Power
Herbst Upholstery
Jocille's Building (pending)
Kerper Boulevard
Eagle Window & Door
Dubuque Technology Park
Advanced Data-Comm
CarteGraph
Dubuque Industrial Center
Metrix
Nordstrom
Precision Tool
Weber Paper
DAIDC Spec Building
McGraw-Hill
Giese Manufacturing
Vessel Systems (pending)
Adams Company (pending)
East 7th Street
Morrison Bros.
Ice Harbor
Swiss Valley 1 (closed out)
Swiss Valley 2
Swiss Valley Farms
Quebecor
Quebecor World
Dubuque Corporate Center (closed out)
SUMMARY of the Budget Manager's
URBAN RENEWAL PROJECT REPORT
UR District Qalified Expenses Reimbursements
Since 1983 to date
Downtown $17,869,714 $7,114,307
Kerper 6,181,427 1,110,281
Tech Park 6,268,219 695,892
DIC 17,079,832 4,880,515
E. 7th Street 186,954 96,431
Ice Harbor 20,810,678 641,529
Swiss Valley 16,821 445
Quebecor 600,000 0 (new)
TOTAL $69,013,645* $14,539,403
* $17,960,000 committed to private economic development projects, including the Downtown
Rehabilitation Loan Program
F:\US ERS~Prnyhre\WPDOCS\U R\TIFch ar[5.d oc
October 22, 2003
TO THE CITY OF DUBUQUE
The undersigned hereby acknowledges receipt of certificates for "Revised Fiscal
Year 2004" and "Fiscal Year 2005" regarding Urban Renewal Projects.
"Downtown Urban Renewa Project" (1 and 2 and 3 and 4 and amendment)
"Kerper Boulevard Industrial Site Economic Development District" (23 & Eagle
Window District amendment)
"Dubuque Industrial Center/South Economic Development District" (26)
"Dubuque Industria Center Economic Development District" (District 5 & 6 & 6A
& 32 & 32A)
"East 7th Street Economic Development District" (25)
"Ice Harbor Urban Renewal District Project" (7 and amendment)
"Swiss Valley" (27)
"Quebecor Economic Development District" (new)
Dated at Dubuque, Iowa this
day of ,2003.
Dubuque County Auditor
Fiscal Year 2005
PROJECT DESIGNATION: DOWNTOWN URBAN RENEWAL PROJECT
STATE OF IOWA )
)SS
COUNTYOF DUBUQUE )
Certificate of City Clerk of Dubuque, Iowa, to Dubuque County Auditor pursuant to the Cod e of
Iowa, Section 403.19.
I certify that the City of Dubuque, Iowa, has issued and expended a total of$17,869,713.89
as shown by the attached Schedule 1, derived from loans, advances, indebtedness or bonds,
principal and interest, issued or advanced in furtherance of the urban renewa project designated
"Downtown Urban Renewal Project - Iowa R-15" and the "Old Main Street District". I further
certify that the City has heretofore received payments into the special tax increment fund under
Code of Iowa Section 403.19(2) applicable to the aforesaid expenditures in the amount of
$6,179,181.43 as shown by the attached Schedule 2.
For Fiscal Year 2004-2005, the City requests that taxes be levied in the amount of 100% of
the taxes generated by the Thompson Building Increment of $679,688 (est.), 100% of the CIGNA
Building Increment of $8,744,?04 (est.) and 100% of the Cottingham and Butler increment of
$140,000 (est.} and 75% of the maximum funds generated by the balance of property in Tax
Increment District #1, Tax Increment District ¢#2, and Tax Increment District #3 and Tax Increment
District #4 as permitted by Section 403.19(2) and Ordinance No. 30-82 of the City of Dubuque,
Iowa, to the special fund Under that section.
Dated this day of ,2003.
PROJECT DESIGNATION: DOWNTOWN DUBUQUE URBAN RENEWAL PROJECT -
IOWA R-15
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
PROJ
# PROJECT TITLE FY SOURCE AMOUNT
I SECURITY BUILDING 1983 Urban Renewal Bonds 9360,000.00
RENOVATION 1983 Urban Renewal Bonds 205,787.48
1983 Urban Renewal Bonds (32,478.00)
TOTAL PROJECT 9533,309.48
USE OF DOLLARS
Pdncipal
2 TRILOG BUILDING
1990 Advance from City Fds. 38,612.79 Temporary Parking
1990 Advance from City Fds. 4,141.00 Landscaping
1990 Advance from City Fds. 18,210.72 Building Site ~mpr.
TOTAL PROJECT 960,964.51
3 HOTEL PROJECT
1991 108 Loan-HUD-8-14-90 91,200,000.00
1992 108 Loan-HUD-8-14~90 395,139.08
1992 108 Loan-HUD-8-14-90 (38,776.18)
1993 Advance from CDBG 58,000.00
TOTAL PROJECT 91,614,362.88
Principal
Interesl
]ntereat Earnings
Easement Purchase
DOWNTOWN LOAN
POOL-BLDG FACADES
1994 Advance from City Fds 9260,000.00
1995 Advance from City Fds 387,000.00
1996 Advance from City Fds 200,000.00
1998 Advance from City Fds 568,000.00
1999 Advance from City Fds 366,000.00
2000 Advance from City Fds 100,000.00
2001 Advance from City Fds 100,000.00
2002 Advance from City Fds 100,000,00
2003 Advance from City Fds 90,000.00
2004 Advance from City Fds 25,000.00
TOTAL PROJECT 92, 195,000.00
Addition to loan ooo[
Addition to loan
Addition to loan pool
Addition to loan pool
Addition to ioan ooo]
Addition to loan peol
Addition to loan pool
Addition to loan peol
Addition to loan pool
Addition to loan pool
5 ALLEYS/STREETS/CURB
RAMPS
1995 Advance from City Fds 9153,165.65
1996 Advance from City Fds 17,133.01
1997 Advance from City Fds 18,64-3.35
TOTAL PROJECT 9188,942.01
Construction costs
Construction costs
Construction costs
6 MARKET STUDY
7 DOWNTOWN
TRAFFIC CIRCULATION
8 UNDERGROUND WIRES
1995 Advance from City Fds $29,600.00
1996 Reimburse-Main St. Ltd. (4,600.00)
TOTAL PROJECT 926,000.00
1996 Advance from City Fds 935,898.73
1997 Advance from City Fds 30,287.70
1996 Advance from City Fds 9,689.82
1999 Advance from City Fds 20,272.00
1999 Advance from City Fds 191,410.00
1999 Advance from City Fds 75,820.00
2000 Advance from City Fds 1;Z9,198.88
2001/02 G.O. Bonds 1,000,000.00
G.O. Bonds-interest Exp 547,652.00
TOTAL PROJECT 92,040,229.13
1997-98 Advance from City Fds 941,032.37
1999 Advance from City Fds 77,481.63
2000 Advance from City Fds 1,830.63
2000 Advance from City Fds 17,714.03
TOTAL PROJECT 9138,058.66
Consultant
Private Participation
Circulation Study
Circulation Study
Circulation Study
Signal Changes
8th St. Opening Eng.
8th St. Opening Const.
8th St. Opening Conat.
Main St Opening 5th - 9th
Main St Opening 5th - 9th
Construction Mangement
Wiring Contracts [20% of total cos[)
Design
Construction-Wiring
City reimbursed 80% through Grant
9 THOMPSON BUILDING
Z001 TIF Funds 916,494.00
2003 TIF Funds ~ 17,368.00
2003 TIF Funds 918,873.62
2004 TIF Funds $19,000.00
2005 TIF Funds 919,000.00
TOTAL PROJECT 990,736.62
Est.
Est.
Economic Development Grant with
payments over 10 yrs @ $ lO,400/yr
to a maximum of 9104,000
10 PARKING SYSTEM EXP.
1999 Advance from City Fds (;89,977.63
2000 Advance from City Fds 314,905.27
2000 Rents and Concessions (1,975.00)
2000 Property Tax Sale Rel (2,310.00)
2001 Envitonmentai Testing 4,895.00
2001 GO Bonds 5,600,000,00
2001 Interest Expense 3,472,311.86
TOTAL PROJECT $9,477,807.76
Appraisals, Land Acq., Demolition
Merchants & Do[ans Demo. Related
Merchants
Merchants
Merchants/Dolans Sites
Bonds sold for new 3rd Street Ramp
interest expense on bonds for 20 year
and Clearance
11
MISCELLANEOUS TIF FD
REVENUES AND EXP.
1996 (27,418.67)
1997 (9,903.88)
1998 (915.B9)
1999 (2,112.32)
1998 859.95
1999 (6,340.00)
1999/00 3,938.90
2001 (236,45)
2003 1,109.79
TOTAL PROJECT
($42,128.06)
interest Earnings
Interest Earnings
interest Earnings
Properi:¥ Tax-Sale Related
Legal Fees
Interest
Legal Fees
interest
Legal Fees
12 CIGNA PROJECT
2000 Advance from City Fds
2003 Cigna Tax Payments-TIF
2004 Cigna Tax Payments-TtF
2005 Cigna Tax Payments-T[F
TOTAL PROJECT
81,500.00
8263,198.00
8264,539.00
8270,000.00
8799,237.00
10 yearn economic developmen[
grant with no maximum
Est.
13 COTTINGHAM & BUTLEF
2004 TIF revenues generated
2005 by project 820,368.00
TOTAL PROJECT $24,858.00
14 BRIC KTOWN 2003
TIF revenues generated
by project-- 1st 4 years
Bth Year 80%
6th Year 60%
7th Year 40,°6
8th Year 20%
TOTAL PROJECT
863,188.00
812,637.60
(;9,478,20
86,318.80
86,159.40
894,752.00
Histodc Preservation Rebate program
Defined tax rebate program over 8 yrs
January 1, 2001 base value-- $58,850
January 1, Z002 va}ua -- 8197,690
January 1, 2003 value = 8747,180
Histodc Preservation Rebate program
Defined tax rebate program over 8 yrs
Increment value of (;664,190
lB HEARTLAND FiNANCiAL
2003 TIF revenues generated
by project over 10 yrs
TOTAL PROJECT
16 KUNKEL-BRIGGS 2003 TIF bonds--principal
TIF bonds--interest
GRAND TOTAL FOR URBAN RENEWAL AREA
8478,000.00 Est.
8478,000.00
8150,000.00
8150,000.00
817,869,713.89
Economic development rebate program
over 10 years commencing with
12-1-04 TIF filing
TIF bonds to be repaid over
10 years
Fiscal Year 2005
City Clerk
Dubuque, Iowa
NO.
1
2
3
4
5
6
7
8
9
10
11
12
13
PROJECT DESIGNATION: DOWNTOWN DUBUQUE URBAN RENEWAL PROJECT -
IOWA R-15
Schedule 2
Tax Increment Reimbursement Received
Under Section 403.19(2)
Amount Received
Year from Payments Cumulative
Received Under Section 403.19(2) Payments
FY 1984 $ 39,458.09 $ 39,458.09
FY 1985 $ 87,008.45 $ 126.466.54
FY 1986 $ 80,940.29 $ 207,406.83
FY 1987 $ 84,949.07 $ 292,355.90
FY 1988 $ 75,413.12 $ 367,769.02
FY 1989 $106,025.23 $ 473,794.25
FY 1990 $ 42,587.45 $ 516,381.70
FY 1991 $ 86,756.67 $ 603,138.37
FY 1992 $359,904.69 $ 963,043.06
FY 1993 $361,625.38 $1,324,868.44
FY 1994 $660,614.07 $1,985,282.51
FY 1995 $634,279.91 $2,619,562.42
FY 1996 ,$409,680.44 $3,029,242.86
14
15
16
17
18
19
2O
21
FY 1997
FY ' 998
FY 1999
FY 2000
FY 2001
FY 2002
FY 2003
FY 2004 Req.
$279,723.01
$ 8,040.60
$626,581.00
$609,697.55
$444,838.49
$384,808.36
$796,249.56
$935,125.00
Fiscal Year 2005
$3,308,965.87
$3,317,006.47
$3,943,587.47
$4,553,285.02
$4,998,123.51
$5,382,931.87
$6,179,181.43
$7,114,306.43
Revised Fiscal Year 2004
PROJECT DESIGNATION: DOWNTOWN URBAN RENEWAL PROJECT
STATE OF IOWA )
)SS
COUNTYOF DUBUQUE )
Certificate of City-Clerk of Dubuque, Iowa, to Dubuque County Auditor pursuant to the
Code of Iowa, Section 403.19.
certify [hat the City of Dubuque, iowa. has issued and expended a total of
$17,869,713.89 as shown by the attached Schedule 1, dedved from loans, advances,
indebtedness or bonds, principal and interest, issued or advanced in furtherance of the
urban renewal project designated "Downtown Urban Renewal Project - Iowa R-15" and the
"Old Main Street District". I further certify that the City has heretofore received payments
into the special tax increment fund under Code of Iowa Section 403.19(2) applicable to the
aforesaid expenditures in the amount of $6,179,181.43 as shown by the attached
Schedule 2.
For the Fiscal Year 2003-2004, the City requests that taxes be levied in the amount
of 100% of the taxes generated by the Thompson Building Increment of $679,688 (est.),
100% of the CIGNA Building Increment of $8,744,704 (est.) and 100% of the Cottingham
and Butler increment of $140,000 (est.) and 75% of the maximum funds generated by the
balance of property in Tax Increment District #1, Tax Increment Distdct #2, and Tax
Increment District ¢Y3 and Tax Increment District ~N- as permitted by Section 403.19(2) and
Ordinance No. 30-82 of the City of Dubuque, Iowa, to the special fund under that section.
Dated this day of ,2003.
City Clerk
Dubuque, Iowa
PROJECT DESIGNATION: DOWNTOWN DUBUQUE URBAN RENEWAL PROJECT -
IOWA R-15
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19{2)
PROJ
# PROJECT TITLE FY SOURCE AMOUNT
USE OF DOLLARS
I SECURITY BUILDING 1983 Urban Renewal Bonds $36(~,000.00 Principal
RENOVATION 1983 Urban Renewal Bonds 205,787.48 interest
1983 Urban Renewal Bonds (32,478.00) Capitalized Interest
TOTAL PROJECT $533.309.48
2 TRILOG BUILDING
1990 Advance from City Fds. 38,612.79 Temporary Parking
1990 Advance from City Fds. 4,141.00 Landscaping
1990 Advance from City Fds. 18,210.72 Building Site Impr.
TOTAL PROJECT $60,964.51
3 HOTEL PROJECT
1991 108 Loan-HUD-8-14-90 $1,200,000.00
1992 108 Loan-HUD-8-14-90 395,139.06
1992 108 Loan-HUD-8-14-90 (38,776.18)
1993 Advance from CDBG 58,000.00
TOTAL PROJECT $1,614,362.88
Principal
Interest
interest Earnings
Easement Purchase
DOWNTOWN LOAN
POOL-BLDG FACADES
! 994 Advance from City Fds $260,000.00 Addition to loan 3ool
1995 Advance from City Fds 387,000.00 Addition to loan 3ool
1996 Advance from City Fds 200,000.00 Addition to loan
1998 Advance from City Fds 568,000.00 Addition to loan pool
1999 Advance from City Fds 365,000.00 Addition [o loan pool
2000 Advance from City Fds 100,000.00 Addition to loan pool
2001 Advance from City Fds 100,000.00 Addition to loan pool
2002 Advance from City Fds 100,000.00 Addition to loan pool
2003 Advance from City Fds 90,000.00 Addition to loan pool
2004 Advance from City Fds 25.000.00 Addition to loan pool
TOTAL PROJECT $2,195,000.00
5 ALLEYS/STREETS/CURB
RAMPS
1995 Advance from City Fds $153,165.65
1996 Advance from City Fds 17,133.01
1997 Advance from City Fds 18,643.35
TOTAL PROJECT $188,942.01
Construction costs
Construction costs
6 MARKET STUDY
7 DOWNTOWN
TRAFFIC CIRCULATION
8 UNDERGROUND WIRES
1995 Advance from City Fds $29.600.00
1996 Reimburse-Main St. Ltd. (4,600.00)
TOTAL PROJECT $25,000.00
1996
1997
1998
1999
1999
1999
2000
2001/02
Advance from Cit, Fds
Advance from Cit, Fds
Advance from Cit, Fds
Advance from Cit, Fds
Advance from Cit, Fds
Advance from Cit, Fds
Advance from C~ Fds
G.O. Bonds
G.O. Bonds-lntereat Exp
TOTAL PROJECT
1997-98 Advance from City Fds
1999 Advance from City Fds
2000 Advance from City Fds
2000 Advance from City Fds
TOTAL PROJECT
$35,898.73
30,287.70
9,689.82
20,272.00
191,410.00
75,820.00
129,198.88
1,000,000.00
547,652,00
$2,040,229.13
$41,032.37
77,481.63
1,830.63
17,714.03
$138,068.66
Consultant
Pdvate Participation
Circulation Study
Circulation Study
Circulation Study
Signal Changes
8th SI.Opening Eng.
8th St. Opening Const.
8th St. Opening Const.
Main St Opening 5th - 9th
Main St Opening 5th - 9th
Construction Mangemen[
Wiring Contracts (20% of total cost)
Design
Construction-Wiring
City reimbursed 80% through Grant
9 THOMPSON BUILDING
2001 TIFFunds
2003 TIFFunds
2003 TIFFunds
2004 TIF Funds
2005 TIFFunds
TOTAL PROJECT
$17,368.00
$18,873.62
$19,000.00
$19,000.00
$90,735.62
Economic Develooment Grant with
payments over 10 yrs @ $ lO,400/yr
to a ma×~mum of $104,000
10 PARKING SYSTEM EXP,
1999 Advance from City Fds
2000 Advance from City Fds
2000 Rents and Concessions
2000 Property Tax Sale Rel
2001 Environmental Testing
2001 GO Bonds
2001 Interest Expense
TOTAL PROJECT
$89,977.63
314,908.27
(1,975.00)
(2,310.00)
4,895.00
5,600,000.00
3,472,311.86
$9,477,807.76
Appraisals, Land Acq., Demolition
Merchants & Dolans Demo. Related
Merchants
Merchants/Dolans Sites
Bonds sold for new 3rd Street Ramp
Interest expense on bonds for 20 year i
and Clearance
11
MISCELLANEOUS TIF FD
REVENUES AND EXP.
1996
1997
1998
1999
1998
1999
~999/00
2001
2003
TOTAL PROJECT
[27,418.67)
(9,903.88)
(915.59)
(2,112.32)
859.95
(6,340.00)
3,938.90
(236.45)
1,109.79
($42,128.06)
interest Earnings
Interest Earnings
~nterest Earnings
Property Tax-Sale Related
Legal Fees
Interest
Legal Fees
Interest
Legal Fees
CIGNA PROJECT
2000 Advance from City Fds
2003 Cigna Tax Payments-TIF
2004 Cigna Tax Payments-TIF
2005 Cigna Tax Payments-TIF
TOTAL PROJECT
$1,S00.00
$263,198.00
$264,539.00
$270,000.00
$799,237.00
grant with no maximum
13 COTTINGHAM & BUTLEF
2004 TIF revenues generated
2005 by project
TOTAL PROJECT
14 BRIC KTOWN 2003
TIF revenues generated
by projecT-- 1st 4 years
5th Year 80%
6th Year 60%
7th Year 40%
8th Year 20%
TOTAL PROJECT
$4,500.00
$20,358.00
824,858.00
$63,188.00
$12,637.60
$9,478,20
$6,318.80
$3,159.40
$94,782.00
$478,000.00
Histodc Preservation Rebate program
Defined tax rebate program over 8 yrs
January 1, 2001 base value-- $ 58,850
January 1, 2002 value = $197,690
January 1. 2003 value = $747,180
Historic Preservation Rebate program
Defined tax rebate program over 8 yrs
Increment value of $564,190
15 HEARTLAND FINANCIAL
16 KUNKEL-BRIGGS
2003 TIFrsvenaes generated
by pr~e~ over10 ym
TOTAL PROJECT
2003 TIF bonds--principal
TfF bonds--interest
$478,000.00
$150,000.00
Est.
Economic development rebate program
over 10 years commencing with
12-1-04 TIF filing
TIF bonds to be repaid over
10 years
$150,000.0(3
GRAND TOTAL FOR URBAN RENEWAL AREA $17,869,713.89
Fiscal Year 2004
NO.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
PROJECT DESIGNATION: DOWNTOWN DUBUQUE URBAN RENEWAL PROJECT -
Year
Received
FY 1984
FY 1985
FY 1986
FY 1987
FY 1988
F-Y1989
FY 1990
FY 1991
FY 1992
FY 1993
FY 1994
FY 1995
FY 1996
FY 1997
FY 1998
IOWA R-15
Schedule 2
Tax Increment Reimbumement Received
Under Se~ion 403.19(2)
Amount Received
~om Payments
Under Se~ion 403.19(2)
$ 39,458.09
$ 87,008.45
$ 80,940.29
$ 84,949.07
$ 75,413.12
$106,025.23
$ 42,587.45
$ 86,756.67
$359,904.69
$361,625.38
$660,814.07
$634,279.91
~4-09,680.44
$279,723.01
$ 8,040.60
Cumulative
Payments
$ 39,458.09
$ 126,466.54
$ 207,406.83
$ 292,355.90
$ 367,769.02
$ 473,794.25
$ 516,381.70
$ 603,138.37
$ 963,043.06
.$1,324,568.44
$1,985,282.51
$2,619,562.42
$3,029,242.86
$3,308,965.87
$3,317,006.47
Fiscal Year 2004
16
17
18
19
20
21
FY 1999
FY 2000
FY 2001
FY 2002
FY 2003
FY 2004 Req.
$626,581.00
$6O9,697.55
$444,838.49
$384,808.36
$796,249.56
$935,125.00
$3,943,587.47
$4,553,285.02
$4,998,123.51
$5,382,931.87
$6,179,181.43
$7,114,306.43
Fiscal Year 2005
PROJECT DESIGNATION: DUBUQUE KERPER BOULEVARD INDUSTRIAL SITE
ECONOMIC DEVELOPMENT DISTRICT
STATE OF IOWA )
) SS
COUNTY OF DUBUQUE )
Certificate of City Clerk of Dubuque, Iowa, to Dubuque County Auditor pursuant to the
Code of Iowa Section 403.19(2).
I certify that the City of Dubuque, Iowa, has issued and expended a total of
$6,181,426.88 as shown by the attached Schedule 1, dedved from loans, advances,
indebtedness or bonds, principal and interest, issued or advanced in furtherance of the
urban renewal project designated "Kerper Boulevard Industrial Site Economic
Development District." further certify that the City has heretofore received payments
into the special tax increment fund under Code of Iowa Section 403.19(2) applicable to
the aforesaid expenditures in the amount of $574,388.75, as shown by the attached
Schedule 2.
For Fiscal Year 2004-2005, the City requests that taxes be levied in the
maximum amount permitted by Section 403.19(2) ana Ordinance No. 43-94 of the City
of Dubuque, Iowa, to the spedtal fund under that section.
Dated this day of ,2003.
City Clerk
Dubuque, Iowa
PROJECT DESIGNATION: KERPER BOULEVARD INDUSTRIAL PARK
ECONOMIC DEVELOPMENT DISTRICT
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
PROJ.
# PROJECT TITLE FY SOURCE AMOUNT
USE OF DOLLARS
I KERPER IND. PARK DEV.
1997 Advance from City Funds $8,342.25
1998 Advance from City Funds 1,131,351.68
1999 Advance from City Funds 47,302.17
1999 Advance from City Funds 541,947.80
2000 Advance from City Funds 609,819.75
2000 Advance from City Funds (92.76)
2000 Advance from City Funds 18.45
2000 Advance from City Funds 10,689.00
2000 Advance from City Funds 34,731.00
2000 Advance from City Funds 1,342.61
2000 Advance from City Funds 26,945.50
2001 Advance from City Funds 3,588.75
2001 Advance from City Funas 7,683.52
2001 Advance from City Funds 4,771.50
2001 Advance from City Funds 39,279.17
2001 Advance from City Funds (590.11)
2002 State Grant Funds (1,184,000.00)
2002 Advance from Cit~ Funds 3,194.58
2002 Advance from City Funds 3,185.00
2003 Advance from City Funds 112.50
2003 Advance from City Funds 300.00
2003 Advance from City Funds 1.144.30
2003 Advance from City Funds (2,455,78)
TOTAL PROJECT $1,288,610.88
Env./Dredgmg
Legal, Engineering, Taxes
Construction/Grading
Construction/Grading
investment Earnings
Postage
Property Tax
Consulting Engineers
Legal Services
Consultant Services
Consulting Engineers
Consultant Services
Miscellaneous Services
Construction
Investment Earnings
iowa Dept. of Econ Dev. Grant
Consultant services-environment
Misc.--appraisal expense
Consultant servJces-environmenl
Misc.--appraisal expense
Constructior
investment Earnings
2 EAGLE WINDOW (ALLC}
2000 TIF Revenue Bond Issue
TOTAL PROJECT
3 168,538.06
2,168,216.00
(443,938.06',
24,600.00
(24,600.00',
$4,892,816.00
Principal
interest
Bond Funds for first 18 months
Legal Fees
Bond Proceeds for Legal Fees
GRAND TOTAL 86,181,426.8B
Fiscal Year 2005
PROJECT DESIGNATION: DUBUQUE KERPER BOULEVARD INDUSTRIAL SITE
ECONOMIC DEVELOPMENT DISTRICT
Schedule 2
Tax Increment Reimbursement Received
Under Section 403.9
Amount Received
from Payments Cumulative
No. Year Received Under Section 403.9 Payments
1 FY 1999 $0 $0
2 FY 2000 $10,196.28 $10,196.28
3 FY 2001 $0 $10,196.28
4 FY 2002 $31,121.11 $ 41,317.39
5 FY 2003 $533,071.36 $574,388.75
6 FY 2004 $535, B92.00 1,110,280.75
(1) The Base Value of the District for Fiscal Year 2000 filing (January 1, 1998)
was $4,957,410. The Incremental Value of the Distdct for Fiscal Year 2000
filing was $367,980.
Revised Fiscal Year 2004
PROJECT DESIGNATION: DUBUQUE KERPER BOULEVARD' INDUSTRIAL SITE
ECONOMIC DEVELOPMENT DISTRICT
STATE OF IOWA )
) SS
COUNTY OF DUBUQUE )
Certificate of City Clerk of Dubuque, Iowa, to Dubuque County Auditor pursuant to the
Code of Iowa Section 403.19(2).
I certify that the City of Dubuque, Iowa, has issued and expended a total of
$6,181,426.88 as shown by the attached Schedule 1, derived from loans, aQvances,
· ndebtedness or bonds, principal and interest, issued or advanced in furtherance of the
urban renewal project designated "Kerper Boulevard Industrial Site Economic
Development District." I further certify that the City has heretofore received payments
into the special tax increment fund under Code of Iowa Section 403.19(2) applicable to
the aforesaid expenditures in the amount of $574,388.75, as shown by the attached
Schedule 2.
For Revised Fiscal Year 2003-2004, the City requests that taxes be levied in the
maximum amount permitted by Section 403.19(2) and Ordinance No. 43-94 of the City
of Dubuque, Iowa, to the special fund under that section.
Dated this day of
,2003.
City Cle~
Dubuque, iowa
PROJECT DESIGNATION: KERPER BOULEVARD INDUSTRIAL PARK
ECONOMIC DEVELOPMENT DISTRICT
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
PROJ.
# PROJECT TITLE FY SOURCE AMOUNT
USE OF DOLLARS
KERPER IND. PARK DEV.
1997 Advance from City Funds 98,342.25
1996 Advance from City Funds 1,131,351.66
1999 Advance from City Funds 47,302.17
1999 Advance from City Funds 541,947.80
2000 Advance from City Funds 609,819.75
2000 Advance from City Funds (92.76)
2000 Advance from City Funds 18.45
2000 Advance from City Funds 10,669.00
2000 Advance from City Funds 34,731.00
2000 Advance from City Funds 1,342.61
2000 Advance from City Funds 26,945.50
2001 Advance from City Funds 3,569.75
2001 Advance from City Funds 7,683.52
2001 Advance from City Funds 4,771.50
2001 Advance from City Funds 39,279.17
2001 Advance from City Funds (590.11)
2002 State Grant Funds (1,184,000.00)
2002 Advance from City Funds 3,194.58
2002 Advance from City Funds 3,185.00
2003 Advance from City Funds 112.50
2003 Advance from City Funds 300.00
2003 Advance from City Funds 1,144.30
2003 Advance from City Funds (2,455.78)
TOTAL PROJECT 91,288,610.88
Environmental/Taxes
Env./Dredg~ng
Legal, Engineering, Taxes
Construction Grading
Construction/Grading
investment Earnings
Postage
Property Tax
Consulting Engineers
Legal Services
Consultant Services
Consulting Engineers
Consultant Services
Miscellaneous Services
Construction
Investment Earnings
Iowa Dept. of Econ Dev. Grant
Consultant services-environmenl
Misc.--appraisal expense
Consultant serv[ces-environmem
Misc.--appraisal expense
Construction
investment Earnings
2 EAGLE WINDOW ',ALLC)
2000 TIF Revenue Bond Issue
TOTAL PROJECT
3,168,538.06
2,168,216.00
(443,938,061
24,600.00
(24,600,001
94,892,816.00
Princioal
Interest
Bond Funds for first 18 months
Legal Fees
Bond Proceeds for Legal Fees
GRAND TOTAL 96,181,426.88
Revised Fiscal Year 2004
PROJECT DESIGNATION: DUBUQUE KERPER BOULEVARD INDUSTRIAL SITE
ECONOMIC DEVELOPMENT DISTRICT
Schedule 2
Tax Increment Reimbursement Received
Under Section 403.9
No.
1
2
3
4
5
6
Amount Received
from Payments Cumulative
Year Received Under Section 403.9 Payments
FY 1999 $0 $0
FY 2000 $10,196.28 $10,196.28
FY 2001 $0 $1C 196.28
FY 2002 $31,121.11 $ 41,317.39
FY 2003 $533,071.36 $574,388.75
FY 2004 $535,892.00 1,110,280.75
(1) The Base Value of the District for Fiscal Year 2000 filing (January 1 1998)
was $4,957,410. The Incremental Value of the District for Fiscal Year 2000
filing was $367,980.
Revised Fiscal Year 2004
DUBUQUE INDUSTRIAL CENTER/SOUTH
ECONOMIC DEVELOPMENT DISTRICT
STATE OF IOWA )
)SS
COUNTY OF DUBUQUE)
Certificate of City Clerk of Dubuque, Iowa, to Dubuque County Auditor pursuant to the
Code of Iowa Section 403.9.
I certify that the City of Dubuque, Iowa, has issued and expended a total of
$6,268,218.37 as shown by the attached Schedule 1, dedved from loans, aavances,
indebtedness or bonds, principal and interest, 'ssued or advanced in furtherance of the
urban renewal project designated "Dubuque Industrial CentedSouth Economic
Development District". I further certify that the City has heretofore received payments into
the special tax increment fund under Code of Iowa Section 403.19(2) applicable to the
aforesaid expenditu res in the amount of $458,944.77 as shown by the attached Schedule
2.
For the Revised Fiscal Year 2003-2004 the City requests that taxes be levied to the
maximum extent permitted by Section 419(2) to the special fund under that section.
Dated this day of ,2003.
City Clerk
Dubuque, Iowa
PROJECT DESIGNATION: DUBUQUE INDUSTRIAL CENTER\SOUTH
ECONOMIC DEVELOPMENT DISTRICT
Schedule 1
Indebtedness Qualifying for Tax increment Reimbursement
Under Section 403.19(2)
PROJ.
#
PROJECT TITLE FY SOURCE AMOUNT
DUBUQUE TECH PARK
INDUSTRIAL CENTER
ON SiTE IMPROVEMENTS
1997 Advance from City Fds $95,379.03
1997 Advance from City Fds 76.256.03
1999 Advance from City Fds 205,758.06
199B Advance from City Fds 313,740.55
1998 Advance from City Fds 1,991,229.77
1998 Advance from City Fds 11,883.08
1999 Advance from City Fds 16,572.92
1999 Advance from City Fds 29.862.07
1999 Advance from City Fds 1,350.48
1999 Advance from City Fds 3,252.03
1999 Advance from City Fds 1,156,476.53
2000 Advance from City Fds 48,677.44
2000 Advance from City Fds 12.76
2000 Advance from City Fds 2.820.23
2000 Advanoe from City Fds 20,000,00
2000 Advance from City Fds 69,193.22
2000 Advance from City Fds 1,010.74
2001 Advance from City Fds 17,618.35
2001 Advance from City Fds 3.852.72
2001 Advance from City Fds 8,152.49
2001 RISE Grant (179.645.00]
2002 Advance from City Fds 16.4'/2.00
2002 Advance from City Fds 4,'778.00
2002 Advance from City Fds 784,803.00
2003 Advance from City Fds 1,215.95
TOTAL PROJECT $4,701,732.45
USE OF DOLLARS
Engineering & Design related
Grading Contract
Construction & Design Engineering
~oad Construction
Grading and Utilities Contract
Miscellaneous
Engineering and Legal Services
Consultant Services
Miscellaneous Services
Legal Services
ConstFuctlon
Landscapmg
Miscellaneous
Legal Fees
Pavmen~ to Other Agencies
Construction Contract
Services from CED Dep~
Legal Services
Consuitact Services
Legal Services
2 ADVANCEDDATA COMM
1999 TIF Revenue Bonds 3-17-99 900,000.00
10 year bond issue $900 000 530,216.00
Company min. assessment {100,650.00)
agreement to cover debt ( 192,129.96)
2000 Investment Earnings (10,435.87)
2001 Investment Earnings [9,431.46)
2002 investment Earnings (6,923.75)
2003 investment Earnings (8,008.62)
TOTAL PROJECT $1,105,636.34
Princlpal
Interest
Debt Service Reserve Fd
Bond Funds for 1st 18 months debt
Interest Earn[ngs-Fd 124 ADC
Interest Earnings-Fd 124 ADC
Interest Earnings-Fd 124 ADC
Interest Earnings-Fd 124 ADC
3 HORIZON DUCARTE
(CARTEGRAPH)
2000 TIF Revenue Bonds 11-30-99 360,000.00
10 year bond issue $360,000 222,397.38
w/min, assessment agreement (49.875.16)
To cover debt (60.680.00)
2000 Legal Fees 2,702.03
2000 nvestment Earnings (2,771,75)
2001 nvestment Earnings (4,982.25)
2002 nvestment Earnings , {3,518.43)
2003 investment Earnings (2,421,24)
TOTAL PROJECT $460,849.58
Princioal
Interest
Debt Service Reserve Fd
Bond Funds for Ist 18 months debt
Legal Fees
interest Earnings-Fd 128-Ca~egregh
interest Earnlngs-Fd 123-Ca~egraph
interest Earnings-Fd 128*Cartegraph
interest Earniegs-Fd 128-Cartegraph
GRAND TOTAL FOR URBAN RENEWAL AREA 86,268,218.37
Revised Fiscal Year 2004
PROJECT DESIG NATION: DUBUQUE INDUSTRIAL C ENTER/SOUTH
ECONOMIC DEVELOPMENT DISTRICT
Schedule 2
Tax Increment Reimbursement Record
Under Section 403.19(2)
Amounts Received
Year from Payments under Cumulative
Number Received Section 403.12_~ Payments
1 FY 1999 $ 0 $ 0
2 FY 2000 $ 0 $ 0
Adv. Data Comm. $ 0 $ 0
3
4
5
FY 2001 Req.
Adv. Data Comm. $ .00 $ 0.00
Cartegraph $ .00 $ 0.00
FY 2002
Adv. Data Comm.
Cartegraph
FY 2003.
Adv. Data Comm.
Cartegraph
$152,835.64
$ 63,934.72
$178,305.63
$ 72,868.78
$152,835.64
$ 63,934.72
$331,141.27
$127,803.50
5
FY 2004 Req.
Adv. Data Comm.
Car[egraph
$177,991.00
$ 58,955.00
$509,132.27
$186,758.50
Fiscal Year 2005
DUBUQUE INDUSTRIAL CENTER/SOUTH
ECONOMIC DEVELOPMENT DISTRICT
STATE OF IOWA )
)SS
COUNTY OF DUBUQUE)
Certificate of City Clerk of Dubuque, Iowa, to Dubuque County Auditor pursuant to the
Code of Iowa Section 403.9.
I certify that the City of Dubuque, Iowa, has issued and expended a total of
$6,268,218.37 as shown by the attached Schedule 1, derived from loans, advances.
indebtedness or bonds, principal and interest, issued or advanced in furtherance of the
urban renewal project designated "Dubuque Industrial Center/South Economic
Development District". I further certify that the City has heretofore received payments into
the special tax increment fund under Code of Iowa Section 403.19(2) applicable to the
aforesaid expenditures in the amount of $458,944.77 as shown by the attached Schedule
2
For Fiscal Year 2004-2005 the City requests that taxes be levied to the maximum
extent permitted by Section 419(2) to the special fund under that section.
Dated this day of ,2003.
City Clerk
Dubuque, Iowa
PROJECT DESIGNATION: DUBUQUE INDUSTRIAL CENTER\SOUTH
ECONOMIC DEVELOPMENT DISTRICT
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
PROJ.
# PROJECT TITLE FY SOURCE
DUBUQUE TECH PARK
INDUSTRIAL CENTER
ON SITE IMPROVEMENTS
AMOUNT
1997 Advance from City Fds $95,379,03
1997 Advance from City Fds 76,256.03
1998 Advance from City Fds 206,758.06
1998 Advance from City Fds 313,740.55
1998 Advance from City Fds 1,991,229.77
1998 Advance from City Fds 11.883.08
1999 Advance from City Fds 16,572.92
1999 Advance from City Fds 29,862.07
1999 Advance from City Fds 1,350.48
1999 Advance from City Fds 3,252.03
1999 Advance from City Fds 1,156,476.53
2000 Advance from City Fds 48,677.44
2000 Advance from City Fds 12.76
2000 Advance from City Fds 2,820.23
2000 Advanc~ from City Fds 20,000.00
2000 Advance from City Fds 69,193.22
2000 Advance from City Fds 1,010.74
2001 Advance from City Fds 17.618.35
2001 Advance from City Fds 3,852.72
2001 Advance from City Fds 8, ~ 62.49
2001 RiSE Grant (179,645.00)
2002 Advance from City Fds 16,472.00
2002 Advance from City Fds 4,778.00
2002 Advance from City Fds 784,803.00
2003 Advance from City Fds 1.215.95
TOTAL PROJECT $4,701,732.45
USE OF DOLLARS
Engineering & Design related
Grading Contract
Construction & Design Engineering
Road Construction
Grading and Utilities Contract
Miscellaneous
Engineering and Legal Services
Legal Services
Landscaping
Legal Fees
Services from CED Dept
Legal Services
2 ADVANCED DATA COMM
1999 TIF Revenue Bonds 3-17-99 900,000,00
10 year bond issue $900,000 530,216.00
Company min. assessment (100,650.00)
agreement to cover debt (192,129.96)
2000 investment Earnings (10,435.87)
2001 Investment Earnings (9,431.46}
2002 Investment Earnings (6,923.75)
2003 investment Earnings {5,008.62)
TOTAL PROJECT $1,105,636.3~t
nterest
Debt Service Reserve Fd
Bond Funds for 1st 18 months debt
Interest Earnings-Fd 124 ADC
Interest Earnings-Fd 124 ADC
interest Earnings-Fd 124 ADC
Interest Earnings-Fd 124 ADC
3 HORIZON DUCARTE
(CARTEGRAPH)
2000 TIF Revenue Bonds 11-30-99 360,000.00
10 year bond issue $360,000 222,397,38
w/min, assessment agreement (49,876.16)
to cover debt (60,680.00)
2000 Legal Fees 2,702.03
2000 investment Earnings (2,771.75)
2001 Investment Earnings (4,982,25]
2002 investment Earnings {3,518.43]
2003 Investment Earnings (2,z~21.24;
TOTAL PROJECT $~-60,849.58
Principal
Interest
Debt Service Reserve Fd
Bond Funds for 1st 18 months oeot
Legal Fees
interest Earnings-Fd 128-Car~egraph (
Interest Earnings-Fd 128-CaF[egraph (
interest Earnings-Fd 128-Cartegrao;~ (
nterest Earnings-Fd 128-Car[egrapn {
GRAND TOTAL FOR URBAN RENEWAL AREA $6,268,218.37
Fiscal Year 2005
PROJECT DESIG NATION: DUBUQUE INDUSTRIAL CENTER/SOUTH
ECONOMIC DEVELOPMENT DISTRICT
Schedule 2
Tax Increment Reimbursement Record
Under Section 403.19(2)
Number
1
2
Amounts Received
Year from Payments under Cumulative
Received Section 403.12(2) Payments
FY 1999 $ 0 $ 0
FY 2000 $ 0 $ 0
Adv. Data Comm. $ 0 $ 0
3
4
FY 2001 Req.
Adv. Data Comm. $ .00 $ 0.00
Cartegraph $ .00 $ 0.00
FY 2002
Adv. Data Comm.
Cartegraph
FY 2003.
Adv. Data Comm.
Cartegraph
$152,835.64
$ 63,934.72
$178,305.63
$ 72,868.78
$152,835.64
$ 63,934.72
$331,141.27
$127,803.50
5
FY 2004 Req.
Adv. Data Comm.
Cartegraph
$177,991.00
$ 58,955.00
$509.132.27
$186,758.50
Fiscal Year 2005
PROJECT DESIG NATION: DUBUQUE INDUSTRIAL CENTER
ECONOMIC DEVELOPMENT DISTRICT
STATE OF iOWA )
) SS
COUNTY OF DUBUQUE)
Certificate of City Clerk of Dubuque, Iowa, to Dubuque County Auditor pursuant to the Code of
Iowa Section 403.19(2).
I certify that the City of Dubuque, Iowa, has issued and expended a total of
$17,079,832.00, as shown by the attached Schedule 1 dedved from loans, advances,
indebtedness or bonds, principal ane interest, issued or advanced in furtherance of the urban
renewal project designated "Dubuque Industrial Center Economic Development District". I
further certify that the City has heretofore received payments into the special tax increment fund
under Code of Iowa Section 403.9 applicable to the aforesaid expenditures in the amount of
$4,132,254.86 as shown by the attached Schedule 2.
For Fiscal Year 2004-2005 the City requests that taxes be levied to the maximum extent
in Tax Increment District #5 and Tax increment District #6, as permitted by Section 403.19(2)
and Ordinance No. 26-88 of the City. of Dubuque, Iowa, to the special fund under that section.
Dated this day of ,2003.
City Clerk
PROJECT DESIGNATION: DUBUQUE INDUSTRIAL CENTER
ECONOMIC DEVELOPMENT DISTRICT
Schedule 1 '
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.9
PROJ.
# PROJECT TITLE FY SOURCE
CITY FUNDING
AMOUNT
1 METRIX COMPANY
1988 Urban Renewal T[F Rev. $125,000.00
Note No. 1 1988 29,722.00
TOTAL PROJECT
$154,722.00
USE OF DOLLARS
Principal
Interest
2 NORDSTROM DISTR.
CENTER
1991 108 Loan from HUD 81,000,000.00
dated 3-5-91 379,188.00
Loan repayments 37,858.00
have been completed (4,974.00)
(300,000.00)
2000 Loan Repay-DubJnfuturo 190,000.00
TOTAL PROJECT
81,302,072.00
Principal
interest Expense
IssuanFe Expense
Interest Earnings
Capitalized Debt
Land Acquistion Loan 11-30-90
3 RADFORD RD RECONSTR.
1997 Advancefrom CiW Fds
TOTAL PROJECT
8238,516.00
8238,516.00
4 PRECISION TOOL
1998
1999
2000
2001
2003
2003
2004
TIF Revenue Obligation
approved 4-1-96
TOTAL PROJECT
Economic Develooment Grant 8115,000
19,166.67 with paymen~ over 6 yrs(FY 93-03)
20,928.00 of 819.167/yr
17,358.00
16,924.00
13,974.95
16,000.00 Guess Maximum they could receive
$104,351.62 is $26,648.38--Final Pav'ment
5 WEBER PAPER COMPANY
1999 TIF Revenue Obligation
2000 approved 11-17-97
2001
2003
2003
TOTAL PROJECT
830,000.00
33,950.00
33,332.00
35,1OO.00
17,618.00
$150,000.00
Economic Deve[ooment Grant 8150,000
with payments over 5 yrs (FY 99-03)
of $30,000/yr.
Final Payment
COUNTY FARM INDUSTRIAL
SiTE DEVELOPMENT
1997 Advance from City Fds
1998 Advance from City Fds
1998 Advance from City Fds
1998 Advance from City Fds
1999 RISE Grant
1999 Sales Tax Refund
1999 Reimbursement General
1999 Land Contract
1999 Advance from City Fds
1999 Advance from City Fds
2000 S~les Tax Refund
2000 insurance Claim/Other
2000 Advance from City Fds
2000 Land Contract
2000 Advance from City Fds
2000 Advance from City Fds
2000 Advance from City Fds
2000 Advance from City Fds
2000 Advance from City Fds
2000 Advance from City Fds
2001 TIF Payments
2001 Land Contract
2001 Legal Services
2001 Damage Claims
2001 Sales tax Refund
2001 Advance from City Fds
2001 Advance from City Fds
2001 Advance from City Fds
$197,895.97
177,024.00
7,500.47
328,391.95
(349,583.00)
(26,253.00)
(57,000.00)
59,642.00
27,724.00
5,622,487.70
{63,729.00)
{9,474.00)
1,012.98
59,642.00
105,789.01
1,583.71
3,393.00
59,526.35
1,649,226.84
10,959.80
266,666.00
59,642.00
12,133.00
140,000.00
(49,577.00}
22,050.00
7,257.00
270.00
Land acquisition re[, expense-Seigerts
Land acquisition tel. expense-Bergfelds
Easement acquisition
Engineering/Construction/Legal Services
Interior Roads
Land Contrct Pavments-Seigert/Berfeld
Easement acquisition
Construction related exoense
ProperW Tax
Land Contract Paymects-Seiger~ Berfeld
Consultant Services
Miscellaneous Services
Legal Services
Landscaoing Contract
Construction
Services from Eng., CED, Consulting Engine,
Alliant No Interest Loan*lst of 3 paymenzs
Land Contrct Payments-Seiger~/gerfe]d
Grading Contracto~
Architectural Services
Consultant Services
Miscellaneous Services
2001
2001
2002
2002
2002
2002
2002
2002
2002
2002
2002
2002
2002
2002
2003
2003
2003
2003
2003
2003
2003
2003
2003
2003
2004
2004
2004
2004
2004
Advance from City Fds
Advance from City Fds
TIF Payments
Advance from City Fds
Land Contract
Advance from City Fds
Advance from City Fds
Advance from City Fds
Advance from City Fds
Advance from Cit' Fds
Advance from Cit Fds
Advance from Cit ' Fds
Advance from Cit ' Fds
Advance from Cit' Fds
Advance from Cit' Fds
Advance from Cit, Fds
Advance from Cit, Fds
Advance from Cit ' Fds
Advance from Cit, Fds
RISE Grant
Land Contract
Land Contract
Advance from City Fds
Advance from City Fds
Advance from City Fds
Advance from City Fds
TIF Payments
Land Contract
Land Contract
48,084.00
266,667.00
84,000.00
57,024.00
22,877.13
44,330.50
8,931.84
1,802.84
8,032.00
114,000.00
70,114.89
(932.00)
41,093.50
15,857.59
2,423.65
583,148.07
(627,064.65)
55,946.00
616.000.00
(18,957.36)
(2,424.00)
2,560.92
500.00
266,667.00
28,842.00
655,500.00
TOTAL PROJECT $10,9,o,8,511.99
Construction Contract
Landscaping Contract
Ailiant No interest Loan-2nd of 3 payments
Prepayment made 10-00 on Baloon Paymenl
Land Contrct Payments-Seigert/Berfeld
Architectural Services
ConsuKing Engineers
Legal Services
Miscei[aneous
City Engineering Charges
Vincent McFadden--Land Payment
Construction-Bulidings-Pavilion
Landscaping
Sales Tax Refund
Consulting Engineers
Legal Fees
Landscaping
City Engineering Charges
Construction Contract
Received Nov. 27, 2002
Land Contract Payment
Balloon Payment-Seiger Farm
Sales Tax Refund
Alllant Payment--Chavanelie Rd
Legal Fees
Miscellaneous
A[liant No Interest Loan-Srd of 3 payments
Land Contract Payment
Balloon Payment-Bergfeld Farm
7 MISCELLANEOUS REVENUE
AND EXPENSE
8 SPEC BUILD[NG-DAIDC
9 McGRAW HILL CORPORATION
10 GIESE
1996 ($10,716.82)
1997 (18,184.84)
1998 (18.551.61
2000 (41,742.38)
2001 (24,358.72)
2002 (14,850.85)
2003 [7,731.02)
TOTAL PROJECT ($152,581.61)
4-06,000.00
$406,000.00
2005 TiF Generated Revenue
2002
Pa~ialvalue on building
2005 TIF Generated Revenue
TOTAL PROJECT
2003 TIF Gener~ed Revenue
2,785,610.00
$2,785.610.00
$290,000.00
$290,000.00
$140,000.00
46,510.00
Economic Dev. grant [o DAIDC
for 10 years beginning
in FY 2005, no maximum
Estimate of 10 years of TIF payments
Economic Dev. gran~
for 10 years beginning
in FY 2005. no maximum
January 1, 2002 value $2,712,780
January 1, 2003 value $9,292.660
Estimate of 10 Cears of TiF payments
Economic Dev. grant
for 10 years beginning
in FY 2005, no maximum
Estimate of 10 years of T[F payments
VESSEL SYSTEMS
11 ADAMS COMPANY
2003 TIF Bonds-Principal
TIF Bonds--Interest
2006 TIF Bonds-Principal
TIF Bonds--Interest
TOTAL PROJECT
$500,000.00
$666,120.00
TIF borrowing of $140,000
to De repaid over 10 years
Max of $500,000 TIF
borrowing with 10 year repayment
GRAND TOTAL FOR URBAN RENEWAL AREA $17,079,832.00
Fiscal Year 2005
PROJECT DESIGNATION: DUBUQUE INDUSTRIAL CENTER
ECONOMIC DEVELOPMENT DISTRICT
Schedule 2
Tax Increment Reimbursement Received
Under Section 403.9
Year Amount Received from Cumulative Payments
No. Received Payments .Under Section 403.9
1 FY 1991 $ 29,220.26 $ 29,220.26
2 FY 1992 $ 45,703.10 $ 74,923.36
3 FY 1993 $ 44,058.82 $ 118,982.18
4 FY 1994 $313,592.25 $ 432,574.43
5 FY 1995 $306,113.60 $ 738,688.03
6 FY 1996 $302,153.20 $1,040,841.23
7 FY 1997 $305,207.26 $1,346,048.49
8 FY 1998 $176,189.82 $1,522,238.31
9 FY 1999 $396,200.00 $1,918,438.31
10 FY 2000 $473,272.24 $2,391,710.55
11 FY 2001 $561,217.88 $2,952,928.43
12 FY 2002 $593,799.22 $3,546,727.65
13 FY 2003 $586,527.21 $4,132,254.86
14 FY 2004 $747,260.00 $4,880,514.86
(1) The Base Value of the District for Fiscal Year 2000 filing (January 1, 1998) was
$54,310. The Incremental Value of the District for Fiscal Year 2000 filing was $17,080,430.
Revised Fiscal Year 2004
PROJECT DESIGNATION: DUBUQUE INDUSTRIAL CENTER
ECONOMIC DEVELOPMENT DISTRICT
STATE OF IOWA )
) SS
COUNTY OF DUBUQUE)
Certificate of City Clerk of Dubuque, Iowa, to Dubuque County Auditor pursuant to the Code of
!owa Section 403.19(2),
I certify that the City of Dubuque, Iowa, has issued and expended a total of
$17,079,832.00, as shown by the attached Schedule 1, derived from loans, advances,
indebtedness or bonds, principal and interest, issued or advanced in furtherance of the urban
renewal project designated "Dubuque Industrial Center Economic:Development District". I
further certify that the City has heretofore received payments into the special tax increment fund
under Code of Iowa Section 403.9 applicable to the aforesaid expenditures in the amount of
$4,132,254.86 as shown by the attached Schedule 2.
For the Revised Fiscal Year 2003-2004 the City requests that taxes be levied to the
maximum extent in Tax Increment District #-5 and Tax Increment District #6, as permitted by
Section 403.19(2) and Ordinance No. 26-88 of the City of Dubuque, Iowa, to the special fund
under that section.
Dated this day of ,2003.
City Clerk
PROJECT DESIGNATION: DUBUQUE INDUSTRIAL CENTER
ECONOMIC DEVELOPMENT DISTRICT
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.9
PROJ.
PROJECT TITLE FY SOURCE
MI'TRIX COMPANY 1988 Urban RenewalT)F Rev.
No, No. 1 1989
TOTAL PROJECT
CITY FUNDING
AMOUNT
$125,000.00
29,722.00
$154,722.00
USE OF DOLLARS
Principal
2 NORDSTROM DiSTR, 1991 108 Loan from HUD
CENTER dated 3-S-91
Loan repayments
have been completed
2060
Loan Repay-Dub.lnfuturo
TOTAL PROJECT
,000,000.00 Principal
379,18S,00 Interest Expense
37,858.00 Issuance Expense
(4,974.00] Interest Earnings
(300,000.00) Capit ailzed Debt
190,000.00 Land Acquistion Loan 11-30-90
$1,302,072.00
3 RADFORD RD RECONSTR. 1997 Advancefrom City Fds $238.516.00
TOTAL PROJECT $238,516.00
C~nstructlon contract let 9-3-96
PRECISION TOOL 1998 TIF Revenue Obligation
1999 approved 4-1-96
2000
2001
2003
2003
2004
TOTAL PROJECT
Economic Develooment Grant $115,000
19,166.67 with payments over 6 yrs (FY 98-03~
20,928.00 of 919,167/yr
17,358.00
16,924.00
13,974.95
16,000.00 Guess Maximum they could receive
$104,351.$2 is $26,648.38--Final Payment
5 WEBER PAPER COMPANY
1999 TIF Revenue Obiiga~on
2000 appmvec 11-17-97
2001
2003
2003
TOTAL PROJECT
$30,000.00
33,950.00
33,332.00
35,100.00
9150,000.00
Economic Development Grant $190,000
with payments over 5 yrs {FY 99-03)
of $30,000/yr,
Final Payment
COUNTY FARM INDUSTRIAL
SITE DEVELOPMENT
1997 Advance from City Fds
1998 Advance from City Fds
1998 Advance from City Fds
1998 Advance from City Fds
1999 RISE Grant
1999 Sales Tax Refund
1999 Reimbursement General
1999 Land Contract
1999 Advance from City Fds
1999 Advance from City Fds
2000 Sales Tax Refund
2000 Insurance Claim/Other
2000 Advance from City Fds
2000 Land Contract
2000 Advance from City Fds
2000 Advance from City Fds
2000 Advance from City Fds
2000 Advance from City Fds
2000 Advance from City Fds
2000 Advance from C~ Fds
2001 TIF Payments
2001 Land Contract
2001 Legal Services
2001 Damage Claims
2001 Sales tax Refund
2001 Advance from City Fds
2001 Advance from City Fds
2001 Advance from City Fds
9197,895,97
177.024.00
7.500.47
328,391.95
(349,583.00)
[26,253,00)
(57,000,00)
59,642.00
27,724.00
5,622,487.70
(63,729.00)
(9,474.00)
1,012.98
59,642.00
105,789.01
1,583.71
3,393.O0
99,926.35
1,649,226.84
10,959,80
266,666.00
59,642.00
12,133.00
140,000.00
(49,577.00)
22,050.00
7,257.00
270.00
Land acouisition roi. expense-Seiger~s
Land acouisition roi. expense-Bergfeids
Easement acquisition
EngineerinG 'Construction/Legal Services
Intedor Roads
Land Contrct Payments-Seigert/Berfeid
Easement acouisition
Construction related expense
Proper~y Tax
Land Contract Payments-Seigert/Berfetd
Consultant Services
Miscellaneous Services
Legal Services
Landscaping Contract
Construction
Services from Eng., CED, Consulting Engine
Alliant No Interest Loan-lst of 3 payments
Land Contrct Payments-SeigertJBerfeld
Grading Contractor
Architectural Services
Consultant Services
Miscellaneous Services
2001 Advance from City Fds 812,041.00
2001 Advance from City Fds 48,084.00
2002 TIF Payments 266,667.00
2002 Advance from City Fds 84,000.00
2002 Land Contract 57,024.00
2002 Advance from City Fds 22,877.13
2002 Advance from City Fds 44,330.50
2002 Advance from City Fds 8,931
2002 Advance from City Fds 1,802.84
2002 Advance from City Fds 8,032.00
2002 Advance from City Fds 114,000.00
2002 Advance from City Fds 11,051.15
2002 Advance from City Fds 70,114,89
2002 Advance from City Fds {932.00)
2003 Advance from City Fds 41,093.50
2003 Advance from City Fds 15,857.59
2003 Advance from City Fds 16,193.14
2003 Advance from CiW Fds 2,423.65
2003 Advance from City Fds 583,148.07
2003 RISE Grant (627,064.85)
2003 Land Contract 55,946.00
2003 Land Contract 616,000.00
2003 Advance from City Fds (18,957.36)
2003 Advance from City Fds (2,424.00)
3004 Advance from ;ity Fds 2,560.92
2004 Advance from City Fds 500.00
2004 TIF PaymenTs 265,567.00
2004 Land Contract 28,842.00
2004 Land Contract 655,500.00
TOTAL PROJECT $10,949,511.99
7 MISCELLANEOUS REVENUE
AND EXPENSE
8 SPEC 8UILDING--DAIDC
Aliiant No [nterest Loan-grid of 3 payments
Prepayment made 10-00 on Baloon Paymem
Lend 3ontrct Payments-Seigert/Berfeld
Architectural Services
Consulting Engineers
Legal Services
City Engineering Charges
Vincent McFadden-Land Payment
Constructio n-Bui[dings-Pavilio~
Landscaping
Sales Tax Refund
Consulting Engineers
Legal Fees
Landscaping
City Engineering Charges
Received Nov. 27, 2002
Balloon Paymect-Seiger Farm
Sales Tax Refund
AIlian[ Payment--Chavanelle Re
Legal Fees
Miscellaneous
All,act No Interest Loan-3rd of 3 payments
Balloon Payment-Bergfeld Farm
1996 ($10,716.821 nterest Earnings
1997 (18.184.84) Interest Earnings
1998 (18,551.61) Interest Earnings
1999 (15,445.37) interest Earnings
2000 (41,742.381 Interest Earnings
2001 (24,358.72) Interest Earnings
2002 (14,850.55) interest Earnings
2003 (7,731.02) interest Earnings
TOTAL PROJECT ($152,581.61}
2005 TIF Generated Revenue 406.000.00
$406,000.00
9 McGRAW HILL CORPORATION
2002
Pardalvalue on bui~ding
2005 T[F Generated Revenue
TOTAL PROJECT
2003 TIF Generated Revenue
2003 TIF Bonds--Principa~
TIF Bonds--Interest
10 GIESE
11 VESSEL SYSTEMS
2006 TIF Bonds--Principal
TIF Bonds--Interest
TOTAL PROJECT
11 ADAMS COMPANY
2,785,610.00
$2,785,610.00
$290.000.00
$290,000.00
$140,000.00
46,510,00
~186,510.00
5500,000.00
166,120.00
$666,120.00-
517,079,632.00
GRAND TOTAL FOR URBAN RENEWAL AREA
Economic Dev. grant to DA[DC
for 10 years beginning
in FY 2005 no maximum
Estimate of 10 years of TIF payments
Economic Dev. grant
for 10 years beginning
in FY 2005, no maximum
January 1, 2002 value 52,712,780
Janua~ 1, 2003 value 59,292,660
Estimate of 10 years of TIF payments
Economic Dev. grant
for 10 years beginning
~n FY 2005, no maximum
Estimate of 10 years of TIF payments
TIF borrowing of ~140.000
To be repaid over 10 years
Max of 5500,000 TIF
borrowing with 10 year repayment
Revised Fiscal Year 2004
PROJECT DESIGNATION: DUBUQUE INDUSTRIAL CENTER
ECONOMIC DEVELOPMENT DISTRICT
Schedule 2
Tax Increment Reimbursement Received
Under Section 403.9
Year Amount Received from Cumulative Payments
No. Received Payments Under Section 403.9
I FY 1991 $ 29,220.26 $ 29,220.26
2 FY 1992 $ 45,703.10 $ 74,923.36
3 FY 1993 $ 44,058.82 $ 118,982.18
4 FY 1994 $313,592.25 $ 432,574.43
5 FY 1995 $306,113.60 $ 738,688.03
6 FY 1996 $302,153.20 $1,040,841.23
7 FY 1997 $305,207.26 $1,346,048.49
8 FY 1998 $176,189.82 $1,522,238.31
9 FY 1999 $396,200.00 $1,918,438.31
10 FY 2000 $473,272.24 $2,391,710.55
11 FY 2001 $561,217.88 $2,952,928.43
12 FY 2002 $593,799.22 $3,546,727.65
13 FY 2003 $586,527.21 $4,132,254.86
14 FY 2004 $747,260.00 $4,880,514.86
(1) The Base Value of the Distdct for Fiscal Year 2000 filing (January 1, 1998) was
$54,310. The Incremental Value of the District for Fiscal Year 2000 filing was $17,080,430.
Fiscal Year 2005
PROJECT DESIGNATION: EAST 7TH STREET
ECONOMIC DEVELOPMENT DISTRICT
STATE OF IOWA )
) SS
COUNTYOF DUBUQUE )
Certificate of City Clerk of Dubuque, Iowa, to Dubuque County Auditor pursuant to the
Code of Iowa Section 403.19.
I certify that the City of Dubuque, Iowa, has issued and expended a total of
$186,953.56, as shown by the attached Schedule 1, dedved from loans, advances,
indebtedness or bonds, principal and interest, issued or advanced in furtherance of the
urban renewal project designated "East 7th Street Economic Development District". I
further certify that the City has heretofore received payments into the special tax
increment fund under Code of Iowa Section 403.19(2) applicable to the aforesaid
expenditures in the amount of $81,629.26 as shown by the attached Schedule 2.
For Fiscal Year 2004-2005, the City requests that taxes be levied to the
maximum amount available as permitted by Section 403.19(2) to the special fund under
that section.
Dated this day of ,2003.
City Clerk
Dubuque, Iowa
PROJECT DESIGNATION: EAST 7TH STREET
ECONOMIC DEVELOPMENT DISTRICT
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
under Section 403.19(2)
PROJ.
# PROJECT TITLE FY SOURCE
AMOUNT
USE OF DOLLARS
1 MORRISON BROTHERS
1997
1997
2000
2001
2002
2003
2004
2005
2006-09
Advance from City Fds
Advance from City Fds
TIF Revenue Obligation
TIF Revenue Obligation
TIF Revenue Obligation
TIF Revenue Obligation
TIF Revenue Obligation
TIF Revenue Obligation
T]F Revenue Obligation
TOTAL PROJECT
$15,747.00 Storm Sewer to building site
213.30 Legal Services
18,119.66 Economic Development Grant for
21,940.02 over 10 years based
21,041.22 on min. assessment agreement
20,091.36 est. to generate $23,214 3er yr.
14,801.00 esT. No maximum
15,000.00 est.
60,000.00 esT.
$186,953.56
Revised Fiscal Year 2004
PROJECT DESIGNATION: EAST 7TH STREET
ECONOMIC DEVELOPMENT DISTRICT
STATE OF IOWA )
) SS
COUNTY Of DUBUQUE )
Certificate of City Clerk of Dubuque, Iowa, to Dubuque County Auditor pursuant to the
Code of Iowa Section 403.19.
I certify that the City of Dubuque, Iowa, has issued and expended a total of
$188,953.56, as shown by the attached Schedule 1, derived from loans, advances,
indebtedness or bonds, principal and interest, issued or advanced in furtherance of the
urban renewal project designated "East 7th Street Economic Development District". I
further certify that the City has heretofore received payments into the special tax
increment fund under Code of Iowa Section 403.19(2) applicable to the aforesaid
expenditures in the amount of $81,629.26 as shown by the attached Schedule 2.
For the Fiscal Year 2003-2004, the City requests that taxes be levied in the
amount of $14,562.06 as permitted by Section 403.19(2) to the special fund under that
section.
Dated this day of ., 2003.
City Clerk
Dubuque, Iowa
PROJECT DESIGNATION: EAST 7TH STREET
ECONOMIC DEVELOPMENT DISTRICT
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
under Section 403.19{2)
PROJ.
# PROJECT TITLE FY SOURCE
I MORRISON BROTHERS
1997
1997
2000
2001
2002
2003
2004
2005
2006-09
AMOUNT
Advance from City Fds $15 747.00
Advance from City Fds 213.30
TIF Revenue Obligation 18,119.66
TIF Revenue Obligation 21,940.02
TIF Revenue Obligation 21,041.22
T1F Revenue Obligation 20,091.36
TIF Revenue Obligation 14,801.00
TIF Revenue Obligation 15,000.00
TIF Revenue Obligation 60.000.00
TOTAL PROJECT 9186,953.56
USE OF DOLLARS
Storm Sewer to building site
Legal Services
Economic Development Grant for
over 10 years based
esT. to generate $23,214 per yr.
Revised Fiscal Year 2004
PROJECT DESIGNATION: EAST 7TH STREET
ECONOMIC DEVELOPMENT DISTRICT
Schedule 2
Tax increment Reimbursement Received
Under Section 403.19(2)
Amount Received
from Payments Under Cumulative
No. Year Received Section 403.19_.(~.
Payments
1 FY1999 $ 437.00 $ 437.00
2 FY 2000 $18,119.66 $18,556.66
3 FY 2001 $21,940.02 $40,496.68
4 FY 2002 $21,041.22 $61,537.90
5 FY 2003 $20,091.36 $81,629.26
6 FY 2004 Requested $14,801.00 $96,430.26
(1) The base value for the East 7th Street District was $696,430 for Fiscal Year 2000
(January 1, 1998). The incremental value was $653,950.
Fiscal Year 2005
PROJECT DESIGNATION: ICE HARBOR
URBAN RENEWAL DISTRICT
STATE OF IOWA )
) SS
COUNTY OF DUBUQUE)
Certificate of City Clerk of Dubuque, Iowa, to Dubuque County Auditor pursuant to the
Code of Iowa, Section 403.19.
I certify that the City of Dubuque, Iowa, has issued and expended a total of
$20,810,677.55 as shown by the attached Schedule 1, derived from funds advanced in
furtherance of the urban renewal project designated "Ice Harbor Urban Renewal District
Project." I further certify that the City has heretofore received payments into the special
tax increment fund under Code of Iowa Section 403.19(2) applicable to the aforesaid
expenditures in the amount of $571,977.59 as shown by the attached Schedule 2.
For Fiscal Year 2004-2005, the City requests that taxes be levied to the maximum
amount permitted by Section 403.19(2) and Ordinance No. 66-89 of the City of Dubuque,
Iowa, to the special fund under that section.
Dated this _ day of ,2003.
City Clerk
Dubuque, Iowa
PROJECT DESIGNATION: ICE HARBOR URBAN RENEWAL DISTRICT PROJECT
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
PROJ
# PROJECT TITLE FY SOURCE AMOUNT
USE OF DOLLARS
ICE HARBOR
DEVELOPMENT
1990-91 Advance from City Fds 8394,266.00
Advance from City Fds 22,152.00
Advance from City Fds 6,555.00
Advance from City Fds 42,106.00
Advance from City Fds 171,734.00
Advance from City Fds 24,042.00
Advance from City Fds 662,354.00
Advance from City Fds 12,847.00
Advance from City Fds 36,443.00
Advance from City Fds 145,556.00
Advance from City Fds 17,095.00
1996-99 Advance from City Fds (5,730.48)
2000 Advance from City Fds 8,981.70
2000 Advance from City Fds (848.73)
2002 Advance from City Fds (700.42)
2003 Advance from City Fds (333.18)
TOTAL PROJECT 81,536,518.89
Land Acquisition
Consulting Engineering
Signage
RR Relocation
Sheet Piling
Depot Improvements
Parking Lots
Pier Ramp
Floodwall Improvements
Cleanup and Clearance
Overpass Stairs
interest Earnings
Services from CED staff
Interest Earnings
Interest Earnings
Interest Earnings
AMERICA'S RIVER PROJECT
2002
2002
2003
G.O. Bond Issue 12-0t 9.500,000
G.O. Bond Issue 1-02 2,860,000
Legal Expense 856
Interest 7,005,720
2003 Private Participation (672,375)
2005 Advance from Citi Fds 290.000
2006 Advance from City Fds 289 958
TOTAL PROJECT 819,274, 158.66
Interest exp, over life of bonds
County payment 1 st yr interest
Facility Management Agreement
payments for two years only
of bonds to abate debt
GRAND TOTAL 820,810,677.55
Fiscal Year 2005
No.
1
2
3
4
5
6
7
8
9
10
11
PROJECT DESIGNATION: ICE HARBOR URBAN RENEWAL DISTRICT PROJECT
Schedule 2
Tax Increment Reimbursement Received
Under Section 403.19(2)
From Payments
Year Received Under Section 403.19(2)
FY 1994 $59,123.74
FY 1995 $67,803.53
FY 1996 $66,831.13
FY 1997 $44,924.70
FY 1998 $45,936.94
FY 1999 $53,907.00
FY 2000 $53,396.78
FY 2001 $55,328.50
FY 2002 $56,300.38
FY 2003 $68,424.89
FY 2004 Req. $69,551.00
Amount
Received
Cumulative
Payments
$ 59,123.74
$126,927.27
$193,758.40
$238,683.10
$284,620.04
$338,527.04
$391,923.82
$447,252.32
$503,552.70
$571,977.59
$641 528.58
(1) The Base Value of the District for Fiscal Year 2000 filing (January 1, 1998) was
$443,660. The Incremental Value of the District for Fiscal Year 2000 filing was
$1,927,080.
Revised Fiscal Year 2004
PROJECT DESIGNATION: ICE HARBOR
URBAN RENEWAL DISTRICT
STATE OF IOWA )
) SS
COUNTY OF DUBUQUE)
Certificate of City Clerk of Dubuque, Iowa, to Dubuque County Auditor pursuant to the Code of
Iowa, Section 403.19.
I certify that the City of Dubuque, Iowa, has issued and expended a total of $20,810,677.55
as shown by the attached Schedule 1, derived from funds advanced in furtherance of the urban
renewal project designated "Ice Harbor Urban Renewal District Project." I further certify that the
City has heretofore received payments into the special tax increment fund under Code of iowa
Section 403.19(2) applicable to the aforesaid expenditures in the amount of $571,978.70 as shown
by the attached Schedule 2.
For the Revised Fiscal Year 2003-2004, the City requests that taxes be levied to the
maximum amount permitted by Section 403.19(2) and Ordinance No. 66-89 of the City of
Dubuque, Iowa, to the special fund under that section.
Dated this day of ,2003.
City Clerk
Dubuque, Iowa
PROJECT DESIGNATION: ICE HARBOR URBAN RENEWAL DISTRICT PROJECT
Schedule 1
indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.1
PROJ
# PROJECT TITLE FY SOURCE AMOUNT
USE OF DOLLARS
ICE HARBOR
DEVELOPMENT
1990-91 Advance from City Fds (~394,266.00
Advance from City Fds 22,152.00
Advance from City Fds 6,555.00
Advance from City Fds 42,106.00
Advance from City Fds 171,734,00
Advance from City Fds 24,042.00
Advance from City Fds 662,354.00
Advance from City Fds 12,847.00
Advance from City Fds 36,443.00
Advance from City Fds 145,556.00
Advance from City Fds 17,095.00
1996-99 Advance from City Fds (5,730.4,8)
2000 Advance from City Fds 8,981.70
2000 Advance from City Fds . (848.73)
2002 Advance from City Fds (700.42)
2003 Advance from City Fds (333.18)
TOTAL PROJECT $1,536,518.89
Land Acquisition
Consulting Engineering
Signage
RR Relocation
Sheet Piling
Depot Improvements
Parking Lots
Pier Ramp
FIoodwall Improvements
Cleanup and Clearance
Overpass Stairs
Interest Earnings
Services from CED staff
Interest Earnings
Interest Earnings
Interest Earnings
2
AMERICA'S RIVER PROJECT
2002
2002
2003
2003
2005
2006
G.O. Bond Issue 12-01
G.O. Bond Issue 1-02
Legal Expense
Interest
Private Pa~icipation
Advance from City Fds
Advance from City Fds
TOTAL PROJECT
9,500,000
2,860,000
856
7,005,720
{672,375)
290,000
289,958
$19,274,158.66
Interest exp. over life of bonds
County payment 1st yr interest
Facility Management Agreement
payments for two years only
of bonds to abate debt
GRAND TOTAL $20,810,677.55
Revised Fiscal Year 2004
NO.
1
2
3
4
5
6
7
8
9
10
11
PROJECT DESIGNATION: ICE HARBOR URBAN RENEWAL DISTRICT PROJECT
Schedule 2
Tax Increment Reimbursement Received
Under Section 403.19(2)
Amount
Received
From Payments Cumulative
Year Received Under Section 403.19(2) Payments
FY 1994 $59,123.74 $ 59,123.74
FY 1995 $67,803.53 $126,927.27
FY 1996 $66,831.13 $193,758.40
FY 1997 $44,924.70 $238,683.10
FY 1998 $45,936.94 $284,620.04
FY 1999 $53,907.00 $338,527.04
FY 2000 $53,396.78 $391,923.82
FY 2001 $55 328.50 $447,252.32
FY 2002 $56,300.38 $503,552.70
FY 2003 $68,424.89 $571,977.59
FY 2004 Req. $69,551.00 $641,528.58
(1) The Base Value of the District for Fiscal Year 2000 filing (January 1, 1998) was
$443,660. The Incremental Va lue of the District for Fiscal Year 2000 filing was
$1,927,080.
Fiscal Year 2005
PROJECT DESIGNATION: SWISS VALLEY
ECONOMIC DEVELOPMENT DISTRICT
STATE OF IOWA )
) SS
COUNTY OF DUBUQUE )
Certificate of City Clerk of Dubuque, Iowa, to Dubuque County Auditor pursuant to the
Code of Iowa Section 403.19.
I certify that the City of Dubuque, Iowa, has issued and expended a total of
$16,820.92, as shown by the attached Schedule 1, derived from loans, advances,
indebtedness or bonds, principal and interest, issued or advanced in furtherance of the
urban renewal project designated "Swiss Valley Economic Development District". I
further certify that the City has heretofore received payments into the special tax
increment fund under Code of Iowa Section 403.19(2) applicable to the aforesaid
expenditures, in the amount of $447.48 as shown by the attached Schedule 2.
For Fiscal Year 2004-2005, the City requests that taxes be levied to the
maximum amount permitted by Section 403.19(2) to the special fund under that section.
Dated this day of ,2003
City Clerk
Dubuque, Iowa
PROJECT DESIGNATION: SWISS VALLEY
ECONOMIC DEVELOPMENT DISTRICT
Schedule 1
Indebtedness Quallfying for Tax Increment Reimbursement
under Section 403.19(2)
PROJ.
# PROJECT TITLE FY SOURCE
SWISS VALLEY
COMPANY EXPANSION
Fund # 132
1999 TIF Revenue Obligation
2000 Debt Service
2000 Investment Earnings
2001 Investment Earnings
2002 investment Earnings
2002 Debt Service
2003 Debt Service
2003 Investment Earnings
2004 Debt Service
TOTAL PROJECT
AMOUNT
80.00
(10.06)
(27.14)
(22.26)
$0.00
$0.00
($13.62)
$16,894.00
$16,820.92
USE OF DOLLARS
Economic Dev. Grant of $168,940
payments over 10 yrs based
on m~n. assessment agreement
est. to generate 816,894 per yr.
but will be based on actual rev.
Fiscal Year 2005
PROJECT DESIGNATION: SWISS VALLEY
ECONOMIC DEVELOPMENT DISTRICT
Schedule 2
Tax Increment Reimbursement Received
Under Section 403.19(2)
NO.
1
2
3
Amount Received
from Payments Under Cumulative
Year Received Section 403.19(2~ Payments
FY 2000 $ 447.48 $ 447.48
FY 2001 $ 0 $ 447.48
FY 2002 $ 0 $ 447.48
(1) The Base Value of the District for Fiscal Year 2000 filing (January 1, 1998)
was $3,496,104. The Incremental Value of the District for Fiscal Year 2000
filing was $16,150.
Revised Fiscal Year 2004
PROJECT DESIGNATION: SWISS VALLEY
ECONOMIC DEVELOPMENT DISTRICT
STATE OF IOWA )
) ss
COUNTY OF DUBUQUE )
Certificate of City Clerk of Dubuque, Iowa, to Dubuque County Auditor pursuant to the
Code of Iowa Section 403.19.
I certify that the City of Dubuque, Idwa, has issued and expended a total of
$16,820.924, as shown by the attached Schedule 1, derived from loans, advances,
indebtedness or bonds, principal and interest, issued or advanced in furtherance of the
urban renewal project designated "Swiss Valley Economic Development District". I
further certify that the City has heretofore received payments into the special tax
increment fund under Code of Iowa Section 403.19(2) applicable to the aforesaid
expenditures in the amount of $447.48 as shown by the attached Schedule 2.
For the Revised Fiscal Year 2003-2004, the City requests that taxes be levied to
the maximum amount permitted by Section 403.19(2) to the special fund under that
section.
Dated this day of ., 2003
City Clerk
Dubuque, Iowa
PROJECT DESIGNATION: SWISS VALLEY
ECONOMIC DEVELOPMENT DISTRICT
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
under Section 403.1912)
PROJ.
# PROJECT TITLE FY SOURCE
1 SWISS VALLEY
COMPANY EXPANSION
Fund # 132
1999 TIF Revenue Obligation
2000 Debt Service
-2000 investment Earnings
2001 Investment Earnings
2002 Investment Earnings
2002 Debt Service
2003 Debt Service
2003 investment Earnings
2004 Debt Service
TOTAL PROJECT
AMOUNT
$0.00
(10.06)
(27.14)
(22.26)
$0.00
$0.00
($13.62)
$16,894.00
$16,820.92
USE OF DOLLARS
Economic Dev. Grant of $168,940
payments over 10 yrs based
on min. assessment agreement
est. to generate $16,894 per yr.
but will be based on actual rev.
Revised Fiscal Year 2004
PROJECT DESIGNATION: SWISS VALLEY
ECONOMIC DEVELOPMENT DISTRICT
Schedule 2
Tax Increment Reimbursement Received
Under Section 403.19(2)
No.
1
2
3
Amount Received
from Payments Under Cumulative
Year Received Section 403.19(2) Payments
FY 2000 $ 447.48 $ 447.48
FY 2001 $ 0 $ 447.48
FY 2002 $ 0 $ 447.48
(1) The Base Value of the District for Fiscal Year 2000 filing (January 1, 1998)
was $3,496,104. The Incremental Value of the District for Fiscal Year 2000
filing was $16,150. ~
Fiscal Year 2005
PROJECT DESIGNATION: QUEBECOR
ECONOMIC DEVELOPMENT DISTRICT
STATE OF IOWA )
) SS
COUNTYOF DUBUQUE )
Certificate of City Clerk of Dubuque, Iowa, to Dubuque County Auditor pursuant to the
Code of Iowa Section 403.19.
t certify that the City of Dubuque, Iowa, has issued and expended a total of
$600,000, as shown by the attached Schedule 1, derived from loans, advances,
indebtedness or bonds, principal and interest, issued or advanced in furtherance of the
urban renewal project designated "Quebec'or Economic Development District". I further
certify that the City has heretofore received payments into the special tax increment
fund under Code of Iowa Section 403.19(2) applicable to the aforesaid expenditures in
the amount of $0 as shown by the attached Schedule 2.
For Fiscal Year 2004-2005, the City requests that taxes be levied to the
maximum amount permitted by Section 403.19(2) to the special fund under that section.
Dated this . day of ,2003.
City Clerk
Dubuque, Iowa
PROJECT DESIGNATION: QUEBECOR
ECONOMIC DEVELOPMENT DISTRICT
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
PROJ.
# PROJECT TITLE FY SOURCE
1 QUEBECOR 2003 TIF revenue
10 year economic rebate
TOTALPROJECT
GRAND TOTAL FOR URBAN RENEWAL AREA
AMOUNT
600,000,00 Est.
$600,000.00
$60C.000.00
USE OF DOLLARS
~ 0 year economic development
gra~lt, i3o maximum
Fiscal Year 2005
PROJECT DESIGNATION: QUEBECOR
ECONOMIC DEVELOPMENT DISTRICT
Schedule 2
Tax Increment Reimbursement Record
Under Section 403.19(2)
Number
1
Amounts Received
Year from Payments under Cumulative
.Received Section 403.12(2) Payments
FY 2005 $ 0 $ 0