Downtown Rehabilitation Loan and Grants for the Caradco Building ProjectTHE CITY OF
Dui
Masterpiece on the Mississippi
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: Downtown Rehabilitation Loan and Grants for the Caradco Building
Project
DATE: November 24, 2010
Dubuque
An- America City
1
2007
Economic Development Director Dave Heiar recommends City Council approval of a
Resolution approving a letter of commitment for a Downtown Rehabilitation Loan of
$300,000, a $10,000 facade grant, a $10,000 design grant and a $15,000 financial
consultant grant for John and Mary Gronen to support their rehabilitation of the Caradco
Building at 900 Jackson Street in the Historic Millwork District.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
Mi ael C. Van Milligen
MCVM:jh
Attachment
cc: Barry Lindahl, City Attorney
Cindy Steinhauser, Assistant City Manager
David J. Heiar, Economic Development Director
THE CITY OF
Du13
Masterpiece on the Mississippi
TO: Michael Van Milligen, City Manager
FROM: David J. Heiar, Economic Development Director
SUBJECT: Downtown Rehabilitation Loan and Grants for the Caradco Building
Project
DATE: November 22, 2010
Dubuque
krail
aica Clly
11111 f
2007
INTRODUCTION
This memorandum presents for City Council consideration a Resolution approving a
letter of commitment for a Downtown Rehabilitation Loan of $300,000, a $10,000 facade
grant, a $10,000 design grant and a $15,000 financial consultant grant for John and
Mary Gronen to support their rehabilitation of the Caradco Building at 900 Jackson
Street in the Historic Millwork District.
BACKGROUND
At the turn of the 20th Century, Dubuque's Millwork District was the backbone of the
regional economy. In fact, it contained one of the nation's premier millwork companies
(Caradco) at the time, providing products for the White House in Washington, D.C.,
West Point Military Academy in New York, and other prestigious buildings. Dozens of
companies, 2,500 employees, a district heating system and intimate connections to
Downtown, the Port of Dubuque, and the Washington Neighborhood characterized the
District.
The Caradco Building is located in the Historic Millwork District, which is geographically
the central point connecting our City's historic workforce housing neighborhood
(Washington Neighborhood) with the redeveloped Port of Dubuque and our growing
Downtown business district. The Caradco Building is an underutilized warehouse,
located in the Historic Millwork District. It is 3 stories above grade, with a total of nearly
200,000 square feet. The adaptive reuse of the building will provide nearly 45,000
square feet of commercial space on the 1 floor and lower lever, with 72 one- and two -
bedroom residential units on 2 and 3rd floors. The revitalized Historic Millwork District
will become the hub connecting these areas. Its redevelopment will have further
reaching effects on the downtown area and the community.
The Downtown Rehabilitation Loan Program encourages private investment and
rehabilitation efforts in the City's Greater Downtown Urban Renewal District. The
program, capitalized with funds available through the City's tax increment financing
district, provides for a maximum of $300,000 in attractive low- interest loan monies. The
program is unique in that grants of up to $10,000 are available to offset necessary
predevelopment design costs, $10,000 for facade improvements and $15,000 for hiring
a financial consultant to analyze the financial feasibility of a project. The program also
includes a forgivable loan element whereby qualifying applicants may have up to the full
amount of the loan forgiven as an incentive for the creation of new employment and
housing opportunities in the district.
DISCUSSION
The renovations that Caradco Building, LLLP is planning will include commercial space
on the lower level which will be provided rent -free to several non - profits for a collective
headquarters, as well as a green jobs training center which will be a collaborative effort
between the Four Mounds HEART YouthBuild program and NICC. The 1st floor is
slated to include commercial tenants that will bring benefit and services to the building's
residential tenants and drive the success of the Millwork District. The 2nd and 3rd floors
will have 36 residential units each, in addition to a community room and exercise room
which lead to outdoor decks overlooking the building's internal courtyard. At least 46 of
the 72 units will be income - restricted for households earning less than 80% area
median income, with the rents restricted as well for a minimum of 10 years.
At this time, insufficient loan funds are available in the Downtown Rehabilitation Loan
Program to fund the loan. The owners have agreed to wait until the funds are available
in FY2026. As of July 1, 2025, the loan funds should be available to the project and the
company would like to proceed with the loan. Recapitalizations for this program have
been included into the City's Capital Improvements Program. Should the
recapitalization schedule be altered, the timing for the availability of loan funds may
change.
Additional information on the terms and conditions of the proposed Downtown
Rehabilitation Loan /Grant is attached in the commitment letter. If the loan is approved
by the City Council, this commitment letter would be executed by the Mayor and by the
owners.
RECOMMENDATION
Staff has reviewed the application and found it to be in keeping with the requirements of
the Downtown Rehabilitation Loan /Grant Program. The project will begin when other
funding sources have been secured.
I recommend that the City Council adopt the attached Resolution approving a letter of
commitment for Caradco Building, LLLP at 900 Jackson Street for the $300,000
Downtown Rehabilitation loan, $10,000 facade grant, $10,000 design grant and $15,000
financial consultant grant.
ACTION STEP
The action step for the City Council is to adopt the attached Resolution.
F:\USERSEcon Dev \CARADCO \DRLP\20101123_Caradco Building DRLP & Grant Application.doc
RESOLUTION NO. 453 -10
A RESOLUTION AUTHORIZING A LETTER OF COMMITMENT AND
ADDITIONAL ACTIONS CONCERNING A DOWNTOWN REHABILITATION
LOAN, FACADE GRANT, DESIGN GRANT AND FINANCIAL CONSULTANT
GRANT TO CARADCO BUILDING, LLLP.
Whereas, the City of Dubuque, Iowa, has created a Downtown Rehabilitation
Loan /Grant Program for the purpose of stimulating reinvestment in the Greater
Downtown Urban Renewal District; and
Whereas, the City of Dubuque, Iowa is encouraging the use of this loan /grant
program to finance code compliance activities and to spur job creation activities; and
Whereas, the loan application from Caradco Building, LLLP 'meets the
requirements of this program; and
Whereas, a Commitment Letter, hereto attached and by this reference made a
part hereof, sets forth the terms and conditions of Caradco Building, LLLP participation
in the Downtown Rehabilitation Loan Program.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF DUBUQUE, IOWA:
Section 1. That the application of Caradco Building, LLLP for participation in
the Downtown Rehabilitation Loan and Grant Program is hereby accepted and
approved.
Section 2. That the Mayor is hereby authorized to execute, on behalf of the
City Council of the City of Dubuque, Iowa, the attached Commitment Letter and to
forward said letter to Caradco Building, LLLP for review and approval.
Section 3. That the City Manager be and he is hereby directed to prepare,
upon execution and receipt of the attached Commitment Letter by the applicant, the
necessary loan documents in accordance with the terms and conditions set forth in said
Commitment Letter.
Section 4. That the City Manager is hereby authorized to execute, on behalf of
the City Council of the City of Dubuque, Iowa, all necessary loan documents and is
further authorized to disburse loan funds from the Downtown Rehabilitation Loan /Grant
Program, in accordance with the terms and conditions of the executed agreement.
Attest:
Passed, approved and adopted this 6 day of December, 2010.
eanne F. Schneider, City Clerk
F: \USERS \Econ Dev \CARADCO \DRLP\20101122 DRLP Resolution.doc
Roy D. Buol, Mayor
Economic Development Department
City Hall - Second Floor
50 West 13th Street
Dubuque, Iowa 52001 -4864
(563) 589 -4393 office
(563) 589 -1733 fax
(563) 690 -6678 TDD
Caradco Building, LLLP
Attn: John and Mary Gronen
1056 Main Street
Dubuque, Iowa 52001
RE: Letter of Commitment/Downtown Rehabilitation Loan Program
Caradco Building, LLLP, 900 Jackson Street
Dear John and Mary Gronen:
I am pleased to inform you that your application for financial assistance for the
renovation of the Caradco Building has been accepted and approved by the Dubuque
City Council.
The following offer is made:
Source of Funds: Downtown Rehabilitation Loan Program
Amount of Commitment: $300,000
Interest Rate: Three percent (3 %) per annum
Term of Loan: Twenty (20) years
December 7, 2010
Payment Schedule: Monthly interest only payments shall be required for the first
sixty (60) months of the loan. Monthly principal and interest
payments, amortized over an additional fifteen (15) year
period, shall begin the sixty -first month of the loan.
You may prepay this loan in whole or in part at any time
without penalty.
Form of Security: The loan shall be secured by a second mortgage on the
property.
Service People Integrity Responsibility Innovation Teamwork
Purpose of the Loan: Renovation of the exterior facade and interior for use as
commercial space.
Conditions of this Commitment:
(a) An "after rehab" appraisal must be submitted to the Economic Development
Department prior to the scheduled loan closing. The cost of said appraisal shall be
incurred by the property owner.
(b) A title opinion must be completed at the expense of the property owner. A copy of
said document must be provided at the loan closing.
(c) A loan agreement must be signed no later than June 30, 2026.
(d) The project is to be completed in accordance with the regulations set forth for the City
of Dubuque's Downtown Rehabilitation Loan Program.
Additional Commitments:
(a) A grant not to exceed ten thousand dollars ($10,000) will be available to offset
documented construction costs for facade improvements. A determination must be
made by the City that the project is substantially complete and satisfies the conditions
of the loan prior to the release of any grant monies.
(b) A grant not to exceed ten thousand dollars ($10,000) will be available to offset
documented predevelopment costs, architectural and engineering fees and other
miscellaneous soft costs. A determination must be made by the City that the project is
substantially complete and satisfies the conditions of the loan prior to the release of
any grant monies.
(c) A grant not to exceed fifteen thousand dollars ($15,000) will be available to offset
documented costs associated with hiring a financial consultant to analyze the financial
feasibility of the project. A determination must be made by the City that the project is
substantially complete and satisfies the conditions of the loan prior to the release of
any grant monies.
(d) Two thousand dollars ($2,000) may be forgiven for each new full -time job or full -time
equivalent created and maintained by the applicant or his /her tenant. "New" shall
mean new to the district.
To qualify, the applicant must document the following:
• The job is a full -time position or a full -time equivalent;
• The position was created within two years of the approval of this loan;
• The position has been maintained for a period of not less than three (3)
2
(e) Two thousand dollars ($2,000) may be forgiven for each new housing unit
created. A new housing unit shall be defined as one of the following:
Sincerely,
Roy D. Buol
Mayor
years after the creation timeframe;
• It is a paid position; and
• The position is created by a business or other entity located in the building
rehabbed or improved with loan funds.
• The creation of a housing unit where one did not previously exist; or
• An existing housing unit which has been unlicensed and unoccupied for a
period of not less than five years.
This commitment is valid for twenty -one (21) days from the date of this letter. If you
wish to accept the offer, you must return the acknowledgment. Failure to return written
acknowledgment will be cause for the commitment to lapse. This commitment offer
shall lapse if construction on the proposed project does not start within ninety (90) days
of the loan closing.
If the terms offered do not meet your approval, or if you have any questions regarding
the conditions of this commitment, please contact David Heiar, Economic Development
Department, at 589 -4393.
3
ACKNOWLEDGMENT
We have reviewed the above offer and accept the $300,000 Downtown Rehabilitation
Loan, the $10,000 facade grant, the $10,000 design grant, and the $15,000 financial
consultant grant and all of the terms of this commitment letter.
John N. Gronen Date
F: \USERS \Econ Dev \CARADCO \DRLP\20101117 DRLP approval letter.doc
4
City of Dubuque, Iowa
Downtown Rehabilitation Loan Program,
Planning and Design Grant Program,
Facade Grant Program, and
Financial Consultant Grant Program
Date of Application: 08/19/10
Applicant Name : John & Mary Gronen
APPLICATION
Applications for funding through the City of Dubuque's Downtown Rehabilitation Loan Program, Planning
and Design Grant Program, Facade Grant Program, and Financial Consultant Grant Program will be
accepted by the Economic Development Department, 50 West 13th Street, Dubuque, Iowa (563) 589 -4393.
Applications will be reviewed by the Department on a case by case basis with qualifying projects being
submitted to the City Council for final review and approval.
APPLICANT INFORMATION
Owner Name: Caradco Building LLLP
Address of Project: 900 Jackson Street, Dubuque, IA 52001
Mailing Address: 1056 Main Street, Dubuque, IA 52001
SS# or Federal Tax ID #: 26- 0306479
Telephone: 563.557.7010
Fax: 563.690.1610
E -mail: maryg@gronenproperties.com
Which assistance programs is this project seeking?
® Downtown Rehab Loan Program
® Planning and Design Grant Program
® Facade Grant Program
® Financial Consultant Grant Program
Description of Project:
(If additional space is needed, please attach description as Attachment A)
Attachment A
Page 1 of 3
How will the project further the revitalization of downtown?
(If additional space is needed, please attach as Attachment B)
Attachment B
Number of current housing units on property?
Number of new housing units created from project?
Number of jobs currently in building?
Number of jobs created after project completed?
0
72
10
90
Is proof of building ownership attached? Yes ® No ❑
If no, reason for not providing proof of building ownership?
If the owner is a for - profit or non - profit organization, is a Resolution
adopted by the Board of Directors which authorizes both the project
and the application attached with the Minutes of the Meeting when it
was adopted?
Page 2 of 3
C:\Documents and Settings\Jill Connors\My Documents\jill \Caradco \Downtown Rehab Loan\Application - Caradco.doc
Yes ❑ No
Downtown Rehab Loan Program
Amount of financing requested: $300,000
Total cost of project seeking assistance: $28,000,000
Proposed security or collateral for the financing: Attachment C
What is the construction schedule for the project: Attachment C
Is a Historical Income Statement for the property (for 2 years)
attached?
Is a cash flow projection indicating the ability to repay the loan
attached?
*Loan Funds will be dispensed on a requisition basis as project costs are incurred for completed work.
Written requests for payment must be submitted to the Economic Development Department.
Planning and Design Grant
What are the estimated costs for planning and design? $590,000
How much assistance is the project requesting? $10,000
Will invoices be made available to confirm expenditures?
*Planning and Design Grant Funds will be dispensed on completion of work, documentation of costs and an
inspection of the completed project at a rate of $.50 for each $1.00 of costs incurred. Partial payments may
be made for completed work. Written requests for payment must be submitted to the Economic
Development Department.
Facade Grant
What are the estimated costs for facade improvements? $800,000
How much assistance is the project requesting? $10,000
What is the construction schedule for facade improvements? Attachment C
Yes El No El
Yes ® No ❑
Yes ® No ❑
Will invoices be made available to confirm expenditures? Yes ® No ❑
*Facade Grant Funds will be dispensed on completion of work, documentation of costs and an inspection of
the completed project at a rate of $.50 for each $1.00 of costs incurred. Partial payments may be made for
completed work. Written requests for payment must be submitted to the Economic Development
Department.
Financial Consultant Grant
What are the estimated costs for financial consultant services? $100,000
How much assistance is the project requesting? $15,000
*Financial Consultant Grant Funds will be dispensed on completion of work, documentation of costs and an
inspection of completed project at a rate of $.50 for each $1.00 of costs incurred. Financial Consultant
Grant Funds will be dispensed after the project has been completed. Written requests for payment must be
submitted to the Economic Development Department.
Page 3 of 3
Commercial
Attachment A — Project Description
Caradco Building
900 Jackson St.
Dubuque, IA
The Caradco Building is an underutilized warehouse, located in the Historic Millwork
District. It is 3 stories above grade, with a total of nearly 200,000 square feet. The
adaptive reuse of the building will provide nearly 45,000 square feet of commercial
space on the 1s floor and lower level, with 72 one- and two- bedroom residential units
on 2 and 3 floors.
The commercial space on the lower level will be provided rent -free to several non - profits
for a collective headquarters, as well as a green jobs training center which will be a
collaborative effort between the Four Mounds HEART YouthBuild program and NICC.
The 1s floor is slated to include commercial tenants that will bring benefit and services
to the building's residential tenants and drive the success of the Millwork District.
Tenant development has begun with: a grocer, outdoor outfitter, design firm, and the
arts community. Other tenants desired are a coffee shop, restaurant, and additional
office space. Commercial rents will be competitive, facilitating the attraction and
retention of quality tenants.
Residential
The 2 and 3rd floors will have 36 residential units each, in addition to a community
room and exercise room which lead to outdoor decks overlooking the building's internal
courtyard. At least 46 of the 72 units will be income - restricted for households earning
less than 80% area median income, with the rents restricted as well for a minimum of
10 years.
Units range from 800 to 1,300 square feet, with one - bedroom units averaging 940
square feet and two- bedroom units averaging 1,230 square feet. All units will have the
following amenities: secure building entry, dishwasher, refrigerator, oven /stove,
microwave, garbage disposal, individual heat/AC, window treatments, cable- ready, high-
speed internet- ready, washer /dryer hook -ups in -unit, additional coin laundry facility, off -
street parking, and on -site property management.
Attachment B — Further Downtown Revitalization
Caradco Building
900 Jackson St.
Dubuque, IA
The Caradco Building is located in the Millwork District, which is geographically the
central point connecting our City's historic workforce housing neighborhood (Washington
Neighborhood) with the redeveloped Port of Dubuque and our growing Downtown
business district. The revitalized Millwork District will become the hub connecting these
areas. Its redevelopment will have further reaching effects on the downtown area and
the community.
Job Creation —As historic rehabilitation creates more jobs dollar- for - dollar than new
construction (a higher percentage of the project budget is spent on labor as opposed to
materials), the $28,000,000 rehabilitation of the 200,000 SF Caradco Building (and
subsequently the balance of the 1,000,000 SF in the District) will have a significant
impact on our local labor force. Current statistics (and extrapolation from a current
project) would indicate a creation of up to 112 construction jobs for the planned 15-
month project. The creation of commercial space on the 1' floor and lower level will
likely generate 90 permanent jobs.
Job Retention —The redevelopment of the Millwork District as a mixed -use neighborhood
is now on a fast -track in order to alleviate a portion of our City's housing shortage
caused by the arrival of IBM (1,300 jobs) and Hormel (200 jobs), as well as the
expansion of several other local industries. Being able to provide urban housing in a
timely fashion, along with additional commercial space with reasonable rents, will allow
our community to retain these newly arrived companies and attract more. With the
current rental vacancy rate at <1 %, it is imperative we move quickly.
Goods and Services — Tenant development is already underway, with the goal of meeting
the needs of future residential tenants from the District itself and from the adjacent
Washington Neighborhood and Downtown areas. Current focus is on attracting a
neighborhood grocery store, coffee shop, restaurant(s), and other retail to "cross
pollinate" with anchor tenants, along with educational institutions (satellite space), the
arts community (studio, storage, performance space) and other office space as deemed
appropriate to maintain the "sense of place" that will drive the success of the District.
Educational, Historic, Cultural Amenities —At the turn of the 20th Century, Dubuque's
Millwork District was the backbone of the regional economy. In fact, it contained one of
the nation's premier millwork companies (Caradco) at the time, providing products for
the White House in Washington, D.C., West Point Military Academy in New York, and
other prestigious buildings. Dozens of companies, 2,500 employees, a district heating
system and intimate connections to Downtown, the Port of Dubuque, and the
Washington Neighborhood characterized the District. This District's planned
revitalization will include the infusion of interpretive materials throughout the District
and its buildings, telling the story of the District's connectedness to the Mississippi River
and to our country's western expansion, as well as our community's growth as a result
of the District's success.
In addition to celebrating the Millwork District's past, the revitalized District will provide
opportunities for residents and visitors alike to celebrate our present and future. This
livable community will be reconnected with surrounding neighborhoods and reenergized
with space for housing, retail, offices, galleries, entertainment and employment. The
arts community is already invested in the District, with an annual art show drawing
hundreds of attendees, and has plans to expand their regular physical presence by
multiple arts individuals and organizations sharing studio, rehearsal, performance,
gallery, and other space in the Caradco Building and other surrounding properties.
Environmental Benefits —The project will begin with deconstruction and sale, reuse, or
recycling of salvageable materials. (Our team is currently at 70 %+ diversion from the
landfill for our Roshek rehab project, and nearly 85% diversion for the Bee Branch
project.) Design for the rehabilitation of the Caradco Building includes many green
features: energy - efficient heating /cooling, modular porous pavers in the courtyard,
reflective roofing, daylighting features, Energy Star appliances, low -flow water fixtures,
energy efficient building envelope techniques, and recycling systems. Our current
Roshek project is on track for LEED Gold, and many of those same features and
techniques will be applied in the Caradco Building. However, we have not definitively
decided to apply to the USGBC for the Caradco project —our intent is to use the funds
for additional green features as opposed to LEED certification costs.
Social Benefits The Caradco Building redevelopment will provide headquarter and
training space for youth development (HEART YouthBuild) and green job training non-
profits (in collaboration with NICC and ECIA). These collaborative efforts will provide
skills to at -risk youth and adults, allowing them the opportunity to participate in
Dubuque's sustainability, deconstruction, and historic rehabilitation efforts.
The Caradco Building redevelopment is just the beginning of a community- changing
initiative —the multi -year revitalization of the entire Historic Millwork District.
Downtown Rehab Loan Program
Proposed security or collateral for the financing:
• Gronen Restoration will work within the NMTC structure to provide a lien position
on the project. Due to this structure, said lien may have to be delayed until the
seven year compliance period ends. Gronen Restoration will, however, commit to
allowing a mortgage to be filed on the building once the NMTC compliance period
has expired.
Construction schedule for the project:
• Design /Construction drawings — nearly complete in Aug. 2010
• Release bids — Sept. /Oct. 2010
• Finalize budget/close financials — Oct. /Nov. 2010
• Deconstruction begins — Nov. /Dec. 2010
• Residential units complete — Dec. 2011
• Substantial completion — June 2012
Facade Grant
Attachment C — Grant & Loans — Additional Details
Caradco Building
900 Jackson St.
Dubuque, IA
Construction schedule for fagade improvements:
• All windows repair /replacement, masonry work, etc. scheduled to be started and
completed during construction season 2011
Brian J. Kane
Les V. Reddick*
D. Flint Drake **
Brad J. Heying
Todd L. Stevenson*
Kevin T. Deeny
John D. Freund
Bradley B. Kane
Joseph P. Kane
All admitted in Iowa
*Also admitted in Illinois
* *Also admitted in Wisconsin
Mr. and Mrs. John Gronen
Gronen Properties
1086 Main Street
Dubuque IA 52001
Re: Caradco Building, LLLP
Dear John and Mary:
DFD:naeh
Enclosure
KANE, NORBY & REDDICK, P.C.
ATTORNEYS
2100 ASBURY ROAD, SUITE 2
DUBUQUE, IA 52001 -3091
June 15, 2007
Of Counsel:
Gary K. Norby
Phone: (563) 582 -7980
Facsimile: (563) 582 -5312
E -mail: fdrake @kanenorbylaw.com
Enclosed please find a copy of the Iowa Secretary of State Receipt of Document Filed in
connection with the Combined Certificate filed with the Iowa Secretary of State related to Caradco
Building, LLLP. We have maintained the original in your file at our office. If you have any
questions, please do not hesitate to contact us. Thank you.
Best regards,
KANE, NORBY—St REDDICK, P.C.
tr
WA
-1 .I CR ETA 1 OW STATE
488DLL- 000347032
CARADCO BUILDING, L.L.L.P.
The document
effective as
The amount of
RECEIPT OF DOCUMENT FILED
The Secretary State acknowledges receipt of the following documen
Certificate of Limited Liability Limited Partnership
was filed on June 7, 2007, at 03:47 PM, to be
of June 7, 2007, at 03:47 PM.
$100.00 was received in full payment of the filing fee
;taw,. trd m
Q 'f d Papri
- YY)A.I.D t c,,,i2— yY)p,,LAsst)
MICHAEL A. MAURO SECRETARY OF STATE
nja
7)t
No. W00529771
Date: 06/08/200,
U1/ LUV 1/ 1 UJ.TJ 11Y1
lii d Yli l II.JRD 1 a 11DUL l l.ri
PRA Po, 003 00L JiIL r uu.j
CERTIFICATE OF LIMITED PARTNERSHIP/STATEMENT OF QDALIFCATION
OF
CARADCO BUILDING, L.L.L.P. c'
An Iowa Limited Liability Limited g
The undersigned General Partner, namely, Groner. Properties, LLC (hereinafter the,-,
"General Partner ") having formed a limited partnership pursuant to the laws of the State of Iowan
(hereafter "this State "), and in accordance with the provisions of Section 488.201 of the Code of
Iowa (2005), does hereby certify and state:
1. The name of the Partnership is CARADCO BUILDING, L.L.L.P.
2. The Partnership's initial designated office shall be 1086 Main Street, Dubuque,
Iowa 52001. The name and address of the initial agent for service of process for the Partnership
is D. FLINT DRAKE, 2100 Asbury Road, Suite 2, Dubuque, Iowa 52001.
3. The name and the street and mailing address of the General Partner is set forth as
follows:
Gronexi Properties, LLC
1086 Main Street
Dubuque, IA 52001
4. The Partnership shall commence on the day the Certificate of Limited Partnership
is duly filed and recorded and shall continue for ninety -nine years thereafter, until dissolved and
terminated as provided for in any Partnership Agreement among the Partners.
5. The Limited Partnership elects to be a Limited Liability Limited Partnership.
IN WITNESS WHEREOF, the General Partner has executed or cau. this Certificate of
Limited Partnership to be executed this 7th day of June, 2007.
RFCFTVFD TIMF • 7 q.d7PM
GRONEN ' OPERTIES, eneral
P
Gronen, Its
573c .
g Member
CNI
, , I r v V I . a s ., L .J • 1 V a L e a
LLI 111LL 1 1V11111 Lk 111,111i 1 'WI
JOYCE M. PANTO
Commission Number 151030
My Cana• Exp. APA 13, 2010
RECEIVED TIME JUN. 7. 1 :47PM
Inn BU, JUJ JUL JJ1L 1, UU`t
STATE OF IOWA )
COUNTY OF DUBUQUE ) ss:
On this ti \
day of n. _ , 2007, before me, a Notary Public in and for
the State of Iowa, personally appeared John Gronen to me personally known, who being by me
duly sworn did say that John Gronen is the Managing Member of said limited liability company,
that no seal has been procured by the said limited liability company and that said instrument was
signed on behalf of said limited liability company by authority of its managers and the said John
Gronen acicnowledged the execution of said instrument to be the voluntary act and deed of said
limited liability company, by it voluntarily executed.
'•ublic in and for
State of Iowa
FILED
IOWA
SECRETARY OF STATE
6-7-07
• -/-1
W529771
i ii
1
1
1
1
i
■ ..
. _._._............._..__. _. ....._......_.....__.__._...._._.......__._.. _....- --- .- ______._........_._.
2010
2009
2008
2007
+
Assessed Building Value
$270,800
$270,800
$270,800
$270,800
1 +
Assessed Dwelling Value
$0
$0
$0
$0
+
Assessed Land Value
$69,700
$69,700
$69,700
869,700
1 +
Exempt Value
$340,500
$339,585
x
Levy Rate (per $1000 of value)
1 -
Gross Assessed Value
$340,500
$340,500
$340,500
$340,500
! -
Exempt Value
$0.00
$0.00
Family Farm Credit
[
A5sessed Value
8340,500
$340,500
$340,500
$340,500
■ ..
. _._._............._..__. _. ....._......_.....__.__._...._._.......__._.. _....- --- .- ______._........_._.
_._. _._. �._. -. 2008
2007
+
Taxable Building Value
$270,800
$270,072
+
Taxable Dwelling Value
$0
$0
! +
Taxable Land Value
$69,700
$69,513
=
Grass Taxable Value
$340,500
$339,585
I -
Military Credit
$0
80
1 =
Net Taxable Value
$340,500
$339,585
x
Levy Rate (per $1000 of value)
34.71571
34.44675
1 =
Gross Taxes Due
$1.1,820.70
$11,697.60
j -
Ag Land Credit
$0.00
$0.00
Family Farm Credit
*0.00
$0.00
-
Homestead Credt
$0.00
$0.00
Disabled and Senkx Ckizens Credit
8
$0.00
=
Net Taxes Due
$11,820.00
$11,698.00
Summary
Parcel ID
Alternate ID
Property Address
Sec /Twp /Rng
Brief Tax Description
Deed Book /Page
Contract Book /Page
Iowa Land Records
Gross Acres
Net Acres
Class
Taxing District
School District
Owners
Deed Holder
Caradco Building Ulp
1086 Main Street
Dubuque IA 52001
Land
Lot Area
Commercial Buildings
Building 1:
Addition 1:
Adjustments:
Building Extras:
'Seller
Sales
;Date
'6/8/2007
Valuation
Taxation
1024480009
43.2 -1
900 ladcson
Yard Extras
#1- (1) 5,400 SF, Asphalt Parking, Average Pddng, Built 1907
#2 - (1) 1,000 SF, Concrete Parking, Average Pricing, Built 1907
CITY LOTS 394 THRU 398, 420 THRU 424, & 5 1 /2 - BAL OF CITY LOT 505A &
CITY LOT 394A
(Note: Not to be used on legal documents)
07-8436 (06082007)
N/A
0.00
0.00
C - Commerdal
DUBA - DUBUQUE CITY /DOQ COMM SCH
DUBUQUE COMM SCH
1.45 Acres; 63,360 SF
Buyer Recording
D07 -8436
Contract Holder
Warehouse, 3 Story, Built -1907, 50090 5F, Bsmt - 32375 SF
Store - Retail Small, , 2 Story, Built -1907, 1000 SF, Bsmt - 0 SF
HVAC - ,Roof -
Sprinkler - exposed dry, 1.3355 SF
Loading Dock, 1440 SF
#1 -, Manual Bev, 150 Ft/Min, 4 Stops, Manual Door, 6,000 LB Capacity, 1907, Qtyl
#2- , O.H. Door - Manual, 10 Ft Wide, 14 Ft High, 1907, Qty2
#3- , 800 SF, Metal, Average Prldng, 1907, Qtyl
#4-, O.H. Door - Manual, 8 Ft Wide, 8 Ft High, 1907, Qty1
#5- , O.H. Door - Manual, 10 Ft Wide, 10 Ft High, 1907, Qty3
#6- , 1,170 SF, Brick, Average Prldng, 1907, Qty1
#7 -, Rail Wght =0, Tum Wght =0, Bumpers =0, 256 LF, 1907, Qtyl
NUTC
Unuseable Sale - her
Indudes sales an or after 1/1/2003
Pay Property Taxes
Special Assessments
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Mailing Address
Click to Enlarge
Amount
8618,500.001
L V U. VVal - L u V IA V. vvuast.y, 11 1
Tax History
bear Due Date Amount Paid Date Paid Receipt
1 2008 March 2010 $5,910 Yes 03/31/2010 369853
i September 2009 $5,910 Yes 09/30/2009
12007 March 2009 $5,849 Yes 03/19/2009 316543
1 September 2008 $5,849 Yes 09/30/2008
Photos
Show Deed/Contract
View Map
Sketches
Show Deed /Contract
View Map
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Last Data Upload: 4/22/2010 3:06:21 AM
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