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Dubuque Industrial Center Economic Development DistrictMasterpiece on the Mississippi TO: The Honorable Mayor and City Council Members FROM: Michael C. Van Milligen, City Manager SUBJECT: Addition of Subarea E to the Dubuque Industrial Center Economic Development District DATE: March 2, 2011 Dubuque bitti All- AmedcaCity 1 1 1 1 2007 Economic Development Director Dave Heiar recommends City Council approval of the Amended and Restated Urban Renewal Plan for the Dubuque Industrial Center Economic Development District. The amendment of this district would add an area referred to as the South Siegert Farm into a new Subarea E of the Dubuque Industrial Center Economic Development District. I concur with the recommendation and respectfully request Mayor and City Council approval. ael C. Van an Milligen MCVM:jh Attachment cc: Barry Lindahl, City Attorney Cindy Steinhauser, Assistant City Manager David J. Heiar, Economic Development Director Masterpiece on the Mississippi Dubuque aa- Ameilcacny If 2007 TO: Michael Van Milligen, City Manager FROM: David J. Heiar, Economic Development Directo ' )� �--\ SUBJECT: Addition of Subarea E to the Dubuque Industrial Center Economic Development District DATE: February 28, 2011 Introduction The purpose of this memorandum is to forward for City Council review and approval the Amended and Restated Urban Renewal Plan for the Dubuque Industrial Center Economic Development District. The proposed amendment of this district would add an area referred to as the South Siegert Farm into a new Subarea E of the Dubuque Industrial Center Economic Development District. The Plan and Resolution adopting the Plan are attached. Background The Dubuque Industrial Center Economic Development District was created on May 2, 1988. The District is an urban renewal area which allows the City of Dubuque to capture tax increment revenue from improvements made in the District. The original area included the Dubuque Industrial Center (known as Subarea A) and was expanded in November 1997 to include the Dubuque Industrial Center West, the County Farm, the Bergfeld Farm, and the North Siegert Farm (known as Subarea B). On January 7, 2008, the Urban Renewal Plan was amended to remove the North Siegert Farm and an area known as the Rail Site. The Urban Renewal Plan was amended again on March 17, 2008 to create a new Subarea C to include the North Siegert Farm and three residential properties along Pennsylvania Avenue. On April 7, 2008, the Urban Renewal was amended to create a new Subarea D to include the area known as the Rail Site where Hormel Foods constructed their Dubuque facility. Discussion The proposed amendment to the Urban Renewal Plan will expand the District to include the South Siegert Farm as a new Subarea E. This amendment will give the area access to the tools and incentives available to urban renewal district properties, namely tax increment financing. This also provides the City with a revenue source from Subarea A increments to finance Subarea E improvements. I recommend expanding the District and amending the Urban Renewal Plan to include the new Subarea E because additional industrial land will be needed beyond the current supply to encourage additional job growth. The Long Range Planning Advisory Commission has reviewed the proposal at their February 16, 2011 meeting to add Subarea E to the District and determined it is in accordance with the Comprehensive Plan. A consultation meeting was scheduled for February 18, 2011 with the affected Taxing bodies. No written or oral comments were received prior to or at the consultation meeting. The Resolution of Necessity was amended on February 22, 2011 as a correction was needed for the legal description of Subarea E. Lot numbers for one of the parcels were transposed. The County of Dubuque approved an agreement with the City on February 28, 2011 allowing for County land to be included in a City Urban Renewal District. Recommendation Following the public hearing, I recommend approval of the attached Resolution for approval of the Amended and Restated Urban Renewal Plan for the Dubuque Industrial Center Economic Development District. The amendment would add Subarea E to the Urban Renewal Plan. Action Step The Action Step for the City Council is to adopt the attached Resolution. attachments F: \USERS\Econ Dev \Urban Renewal \Dubuque Industrial Center UR District\2011.1 DIC Urban Renewal Plan\20110218 Memo Adopt Resolution DIC UR 2011.1.doc Prepared By: David Heiar ED Director City of Dubuque 50 W. 13 St. Dubuque, IA 52001 (563) 589 -4393 Return To: David Heiar ED Director City of Dubuque 50 W. 13 St. Dubuque, IA 52001 (563) 589 -4393 RESOLUTION NO. 87 -11 A RESOLUTION APPROVING THE AMENDED AND RESTATED URBAN RENEWAL PLAN FOR THE DUBUQUE INDUSTRIAL CENTER ECONOMIC DEVELOPMENT DISTRICT. Whereas, on January 18, 2011 the City Council of the City of Dubuque, Iowa set a public hearing to approve an Amended and Restated Urban Renewal Plan (the "Plan ") for the Dubuque Industrial Center Economic Development District (the "District "); and Whereas, the City of Dubuque's primary objective in amending this Plan is to add a Subarea E, commonly known as the South Siegert Farm; and Whereas, the Long Range Planning Commission has reviewed the proposed Plan and has found that said document is consistent with the Comprehensive Plan for the development of the City of Dubuque as a whole and has transmitted its findings to the City Council; and Whereas, a consultation process has been undertaken with affected taxing entities in accordance with Chapter 403 of the Code of Iowa with no written objections or recommended changes to the Plan received; and Whereas, the County of Dubuque approved an agreement with the City to allow for land in the County to be included in a City Urban Renewal District; and Whereas, the City Council, in accordance with Chapter 403 of the Code of Iowa, has held a public hearing on the proposed amended and restated Plan after public notice thereof. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DUBUQUE, IOWA: Section 1. That the Amended and Restated Urban Renewal Plan for the Dubuque Industrial Center Economic Development District, attached hereto and made reference to herein and the addition of Subarea E, be approved. Section 2. That the City Clerk of the City of Dubuque, Iowa is hereby authorized and directed to file a certified copy of the Resolution in the office of the Dubuque County Recorder. Passed, approved and adopted this 7 th day of March, 2011 eanne F. Schneider City Clerk P Roy D. Buol Mayor F: \USERS \Econ Dev \Urban Renewal \Dubuque Industrial Center UR District12011.1 DIC Urban Renewal Plan\20110307 DIC UR 2011.1 Adopt Resolution.doc AMENDED and RESTATED URBAN RENEWAL PLAN Dubuque Industrial Center Economic Development District City of Dubuque, Iowa This Amended and Restated Urban Renewal Plan provides for the continued development of the Dubuque Industrial Center Economic Development District, originally established by Resolution 130 -88 of the City Council of the City of Dubuque, Iowa on May 2, 1988 and thereafter amended and restated by Resolution 484 -90 on December 17, 1990, Resolution 142 -97 on April 7, 1997, Resolution 478 -97 on November 17, 1997, Resolution 15 -08 on January 7, 2008, Resolution 101 -08 on March 17, 2008, Resolution 109 -08 on April 7, 2008, and Resolution on March 7, 2011. Prepared by the Economic Development Department. Version 2011.1 TABLE OF CONTENTS A. INTRODUCTION 3 B. OBJECTIVES 3 C. DISTRICT BOUNDARIES 4 D. PUBLIC PURPOSE ACTIVITIES 6 E. DEVELOPMENT & REDEVELOPMENT REQUIREMENTS 7 F. LAND ACQUISITION AND DISPOSITION 8 G. FINANCING ACTIVITIES 8 H. STATE AND LOCAL REQUIREMENTS 10 I. DURATION OF APPROVED URBAN RENEWAL PLAN 10 J. SEVERABILITY 12 K. AMENDMENT OF APPROVED URBAN RENEWAL PLAN 12 L. ATTACHMENTS 12 2 A. INTRODUCTION AMENDED and RESTATED DUBUQUE INDUSTRIAL CENTER ECONOMIC DEVELOPMENT DISTRICT URBAN RENEWAL PLAN City of Dubuque, Iowa This AMENDED and RESTATED URBAN RENEWAL PLAN (the "Plan ") has been prepared to provide for the further development and redevelopment of the DUBUQUE INDUSTRIAL CENTER ECONOMIC DEVELOPMENT DISTRICT (the "District ") first established by the City of Dubuque on May 2, 1988. Its intent is to stimulate economic development activities within the expanded District through the commitment of public actions as specified herein. To achieve this objective, the City of Dubuque shall undertake the urban renewal actions specified in this Plan, pursuant to the powers granted to it under Chapter 403 of the Iowa Code, Urban Renewal Law. This Plan is an amendment and restatement of the Dubuque Industrial Center Economic Development District Urban Renewal Plan adopted by Resolution 130 -88 of the City Council of the City of Dubuque, Iowa on May 2, 1988 and subsequently amended by Resolution 484 -90 on December 17, 1990, Resolution 142 -97 on April 7, 1997, Resolution 478 -97 on November 17, 1997, Resolution 15 -08 on January 7, 2008, Resolution 101 -08 on March 17, 2008, Resolution 109 -08 on April 7, 2008, and Resolution on March 7, 2011. This Plan shall serve as a new urban renewal plan for the District described herein. The division of taxation authorized by Section 403.19 and the separation of incremental taxes as defined in Section 403.19(2) have been implemented in the existing area of the District (the different areas of the district hereinafter referred to as Subareas). Under the terms of this Amended and Restated Plan, the tax increment mechanism shall be continued and implemented within the revised area of the District as well. The revised District shall be subject to the provisions of a revised ordinance of the City of Dubuque with respect to the division of taxes levied and collected within each of Subareas A, B, C, D, and E of the District. Incremental taxes shall continue to be determined separately with respect to each of the Subareas comprising the District, and when collected shall be applied, subject to such liens and priorities as may exist or be from time to time provided, with respect to the Amended and Restated Dubuque Industrial Center Economic Development District, as so amended. B. OBJECTIVES 3 The primary objectives of the Plan are the development and redevelopment of the District for economic development activities, primarily industrial park development, through: 1. Provision of marketable industrial development sites for the purpose of job- creating economic development activities; 2. Provision of public infrastructure improvements, including sanitary sewer, water and stormwater detention, supportive of full development of the District; 3. Provision of a safe, efficient and attractive circulation system; 4. Establishment of design standards which will assure cohesive and compatible development and redevelopment of the District; 5. Provision of public amenities that provide an aesthetically appealing environment, including open space, buffering, landscaping, water features, signage and lighting to create a distinctive and attractive setting; 6. Creation of financial incentives necessary to encourage new and existing businesses to invest in the District; and 7. Expansion of the property tax base of the District. C. DISTRICT BOUNDARIES The District is located within the City of Dubuque, County of Dubuque, State of Iowa. The City of Dubuque believes that the objectives of the Plan can best be accomplished by defining the real property included within the District as four separate areas so as to distinguish the original District (Subarea A) from the subsequent expansion areas (Subareas B, C, and D). Subarea A of the District shall consist of the real property legally described as follows: All of the Dubuque Industrial Center First, Second, Third, Fourth, Fifth, Sixth, Seventh, Eighth, Ninth, Tenth and Eleventh Additions and the adjoining public right -of -way, all in the City of Dubuque, Dubuque County, Iowa. Subarea B of the District shall consist of the real property legally described as follows: • Lots 1, 3, 4, 1 of 5, 6 and H of Dubuque Industrial Center West; and • Lots 1, 2, 3, 4, 5, 6, 7, 8, and C of Dubuque Industrial Center West 2 Addition; and • Lots 1, 2, 3, 4, B, and C of Dubuque Industrial Center West 4th Addition; and • Lots 1 of 1, 1 of 2, 2 of 2, 1 of 3, 2 of 3, 1 of 5, A, C, and D of Dubuque Industrial 4 Center West 5th Addition; and • Lots 1, 2, and A of Dubuque Industrial Center West 6th Addition; and • Lots 1, 1 of 2, and 2 of 2 of Dubuque Industrial Center West 7th Addition; and • Lot 2 of 1 of the Southwest Quarter of the Southwest Quarter and Lot 2 of 1 of the Southeast Quarter of the Southwest Quarter all in Section 30, Township 89 North, Range 2 East, 5 Principal Meridian; • and all that part of a 100 - foot -wide strip of the Chicago Central Pacific Railroad right -of -way lying in the SE 1/4 of Section 30, the SE 1/4 of the SW 1/4 of Section 30, the NW 1/4 of Section 31, and the NE 1/4 of Section 31 all in T89N, R2E, of the 5th P.M. Dubuque County, Iowa, the centerline of which is more particularly described as follows: beginning at a point of intersection with the easterly line of the SE 1/4 of Section 30, T89N, R2E, of the 5th P.M., thence southwesterly along the centerline of said railroad 2,700 feet, more or less a point of intersection with the westerly line of the SE 1/4 of said Section 30; thence southwesterly continuing along said centerline 845 feet, more or less, to a point where the railroad right -of -way widens to 200 feet, said point being the terminus of this description; and • all that part of a 100 - foot -wide strip of the Chicago Central Pacific Railroad right - of -way lying in the Balance of Lot 1 of 1 of the Southwest Quarter of the Southwest Quarter in Section 29, Township 89 North, Range 2 East, 5 Principal Meridian; and • any adjoining public street right -of -way all in the City of Dubuque, Dubuque County, Iowa. Subarea C of the District shall consist of the real property legally described as follows: • Lot 1 -1 NW 1 /4 -NE 1/4; Lot 2 of E 10 acres NE 1 /4 -NW 1/4; Lot 2 -1 NW 1 /4 -NE 1/4; Lot 2 NW 1 /4 -NE 1/4; Lot 1 E 1/4 NE 1 /4 -NW 1/4; W 3/4 NE 1 /4 -NW 1/4; Lot 2 -1 SE 1 /4 -NW 1/4; Lot 1 -1 SE 1 /4 -NW 1/4; and the SW 1 /4 -NE 1/4 all in Section 30, Township 89 North, Range 2 East, 5th Principal Meridian; and any adjoining public street right -of -way in the City of Dubuque, Dubuque County. Subarea D of the District shall consist of the real property legally described as follows: • Lot 4 of Dubuque Industrial Center West 5th Addition, and Lot B of Dubuque Industrial Center West 5th Addition in the City of Dubuque, Iowa. Subarea E of the District shall consist of the real property legally described as follows: • All of Lot 1 of 1 and Lot 1 of 2 of the South Fork Subdivision No. 1, including any adjoining public street right -of -way to said lots, all in the City of Dubuque, Dubuque County, Iowa, and; • All of Seippel Road right of way from the north boundary line of Lot 1 of 1 of South Fork Subdivision No. 1 in the City of Dubuque, to the south boundary lines of Lot H of Dubuque Industrial Center West and Lot 1 of Dubuque Industrial 5 Center West 2nd Addition in the City of Dubuque, Dubuque County, Iowa, including crossings at the intersections of Old Highway Road and Chicago Central & Pacific Railroad rights -of -way. The boundaries of the District are delineated on the URBAN RENEWAL DISTRICT map (Attachment A). The City of Dubuque reserves the right to modify the boundaries of the District at some future date. Any amendments to the Plan will be completed in accordance with Chapter 403 of the Iowa Code, Urban Renewal Law. D. PUBLIC PURPOSE ACTIVITIES To meet the OBJECTIVES of this Plan, the City of Dubuque is prepared to initiate and support development and redevelopment of the District through, among other things, the following PUBLIC PURPOSE ACTIVITIES: 1. Acquisition of property for public improvements and private development; 2. Demolition and removal of buildings and improvements not compatible with or necessary for industrial park development and all site preparation and grading required in connection with such development; 3. Improvement, installation, construction and reconstruction of streets, utilities and other improvements and rights -of -ways including but not limited to the relocation of overhead utility lines, street lights, construction of railroad spur tracks, appropriate landscaping and buffers, open space and signage; 4. Disposition of any property acquired in the District, including sale, initial leasing or retention by the City itself, at its fair value; 5. Preparation of property for development and redevelopment purposes including but not limited to activities such as appraisals and architectural and engineering studies; 6. Use of tax increment financing, loans, grants and other appropriate financial tools in support of eligible public and private development and redevelopment efforts; 7. Enforcement of applicable local, state and federal laws, codes and regulations; 8. Enforcement of established design standards in furtherance of quality development; 6 9. Development and implementation of a marketing program for the purpose of promoting the purchase and development of industrial sites by private developers; 10. Coordination and cooperation with the improvement of Seippel Road as it affects Subarea B's accessibility to U.S. Highway 20. Public purpose activities are limited to those areas delineated on the PUBLIC PURPOSE ACTIVITY AREA map (Attachment B). All public purpose activities shall be conditioned upon and shall meet the restrictions and limitations placed upon the District by the Plan. E. DEVELOPMENT & REDEVELOPMENT REQUIREMENTS The LAND USE and PLANNING AND DESIGN CRITERIA set forth herein shall apply to any and all District properties the development and /or the redevelopment of which is assisted by the City through any of the PUBLIC PURPOSE ACTIVITIES listed above. 1. Land Use Subareas A, B, C, and D shall continue to be developed under the regulations of the existing Dubuque Industrial Center Planned Industrial District. The allowed uses provide for a mix of commercial and industrial land use activities within a quality industrial park setting. LAND USE maps (Attachments C1 and C2) identify the existing and the proposed land uses within Subareas A, B, C, D, and E. 2. Planning and Design Criteria The planning criteria to be used to guide the physical development of Subareas A, B, C, D, and E are those standards and guidelines contained within the City of Dubuque's Zoning Ordinance and other applicable local, state and federal codes and ordinances. a. Subarea A development will continue to be additionally governed by the Conditions of Development and Operation Documents of the Dubuque Industrial Center Planned Industrial District as amended from time to time. b. Subareas B, C, and D will develop under a PI Planned Industrial District ordinance as required by Section 3 -5.5 of the City of Dubuque Zoning Ordinance. Development will follow the Planned Unit Development regulations which require a conceptual development plan and specific design and performance standards to be approved by ordinance. 7 c. Subarea E is intended to develop as an Industrial area similar to Subareas B, C, and D. F. LAND ACQUISITION AND DISPOSITION The City of Dubuque is prepared to acquire and dispose of property in support of the development and redevelopment of the District within the parameters set forth below. 1. Land Acquisition All necessary land acquisitions have been completed in Subareas A, B, C, D, and E of the District. 2. Land Disposition Publicly held land will be sold for the development of viable uses consistent with this Plan and not for purposes of speculation. Land will be disposed of in accordance with the requirements set forth in Chapter 403 of the Iowa Code, Urban Renewal Law. Developers will be selected on the basis of the quality of their proposals and their ability to carry out such proposals while complying with the requirements of this Plan. Developers will be required by contractual agreement to observe the Land Use Requirements and Planning and Design Criteria of this Plan. The contract and other disposition documents will set forth the provisions, standards and criteria for achieving the objectives and requirements outlined in this Plan. 3. Relocation Requirements No relocation is anticipated at this time. G. FINANCING ACTIVITIES To meet the OBJECTIVES of this Plan and to encourage the development of the District and private investment therein, the City of Dubuque is prepared to provide financial assistance to qualified industries and businesses through the making of loans or grants under Chapter 15A of the Iowa Code and through the use of tax increment financing under Chapter 403 of the Iowa Code. 1. Chapter 15A Loan or Grant The City of Dubuque has determined that the making of loans or grants of public funds to qualified industries and businesses is necessary to aid in the planning, undertaking and completion of urban renewal projects authorized under this Plan 8 within the meaning of Section 384.24(3)(q) of the Iowa Code. Accordingly, in furtherance of the objectives of this Plan, the City of Dubuque may determine to issue bonds or loan agreements, in reliance upon the authority of Section 384.24A, Section 384.24(3)(q), Section 403.12 (general obligation bonds) or Section 403.9 (tax increment bonds), for the purpose of making loans or grants of public funds to qualified businesses. Alternatively, the City may determine to use available funds for the making of such loans or grants. In determining qualifications of recipients and whether to make any such individual loans or grants, the City of Dubuque shall consider one or more of the factors set forth in Section 15A.1 of the Iowa Code on a case -by -case basis. 2. Tax Increment Financing The City of Dubuque is prepared to utilize tax increment financing as a means of financing eligible costs incurred to implement the Public Purpose Activities identified in Part D of this Plan. Bonds, tax rebate agreements and \or loan agreements may be issued by the City under the authority of Section 403.9 of the Iowa Code (tax increment bonds) or Section 384.24A, Section 384.24(3)(q) and Section 403.12 (general obligation bonds). The City acknowledges that the use of tax increment revenues delays the ability of other local taxing bodies to realize immediately the direct tax benefits of new development in the District. The City believes, however, that the use of tax increment revenues to finance the development of new industrial land and to promote private investment in the District is necessary in the public interest to achieve the OBJECTIVES of this Plan. Without the use of this special financing tool, new investment may not otherwise occur or may occur within another jurisdiction. If new development does not take place in Dubuque, property values could stagnate and the City, County and School District may receive less taxes during the duration of this Plan than they would have if this Plan were not implemented. Tax increment financing will provide a long -term payback in overall increased tax base for the City, County and School District. The initial public investment required to generate new private investment will ultimately increase the taxable value of the District well beyond its existing base value. Tax increment reimbursement may be sought for, among other things, the following costs to the extent they are incurred by the City: a. Planning and administration of the Plan; b. Construction of public infrastructure improvements and facilities within the District; c. Acquisition, installation, maintenance and replacement of public 9 investments throughout the District including but not limited to street lights, landscaping and buffers, signage and appropriate amenities; d. Acquisition of land and /or buildings and preparation of same for sale or lease to private developers, including any "write down" of the sale price of the land and /or building; e. Preservation, conservation, development or redevelopment of buildings or facilities within the District to be sold or leased to qualified businesses; f. Loans or grants to qualified businesses under Chapter 15A of the Iowa Code, including tax rebate payments, debt service payments on any bonds issued to finance such loans or grants, for purposes of expanding the business or activity, or other qualifying loan programs established in support of the Plan; and g. Providing the matching share for a variety of local, state and federal grants and loans. 3. Proposed Amount of Indebtedness At this time, the extent of improvements and new development within the District is only generally known. As such, the amount and duration for use of the tax increment revenues for public improvements and /or private development can only be estimated; however, the actual use and amount of tax increment revenues to be used by the City for District activities will be determined at the time specific development is proposed. It is anticipated that the maximum amount of indebtedness which will qualify for tax increment revenue reimbursement during the duration of this Plan, including acquisition, public improvements and private development assistance within this district, will not exceed $50,000,000. At the time of adoption of this Plan, the City of Dubuque's current general obligation debt is $ 95,918,516 (a list of obligations is found as Attachment D) and the applicable constitutional debt limit is $174,325,144, for the Fiscal Year starting July 1, 2011. H. STATE AND LOCAL REQUIREMENTS All provisions necessary to conform with state and local laws have been complied with by the City of Dubuque in the implementation of this Plan and its supporting documents. I. DURATION OF APPROVED URBAN RENEWAL PLAN 1. Subarea A 10 This Plan shall continue in effect until terminated by action of the City Council, but in no event before the City of Dubuque has received full reimbursement from all incremental taxes of its advances and principal and interest payable on all Tax Increment Financing or general obligations issued to carry out the OBJECTIVES of the Plan. 2. Subarea B This Plan shall continue in effect until terminated by the City Council; provided, however, that the collection of tax increment revenues from properties located in Subarea B shall be limited to twenty (20) years from the calendar year following the calendar year in which the City first certifies to the County Auditor the amount of any loans, advances, indebtedness or bonds which qualify for payment from the division of tax increment revenue provided for in Section 403.19 (tax increment financing) of the Iowa Code. 3. Subarea C This Plan shall continue in effect until terminated by the City Council; provided, however, that the collection of tax increment revenues from properties located in Subarea C shall be limited to twenty (20) years from the calendar year following the calendar year in which the City first certifies to the County Auditor the amount of any loans, advances, indebtedness or bonds which qualify for payment from the division of tax increment revenue provided for in Section 403.19 (tax increment financing) of the Iowa Code. 4. Subarea D This Plan shall continue in effect until terminated by the City Council; provided, however, that the collection of tax increment revenues from properties located in Subarea D shall be limited to twenty (20) years from the calendar year following the calendar year in which the City first certifies to the County Auditor the amount of any loans, advances, indebtedness or bonds which qualify for payment from the division of tax increment revenue provided for in Section 403.19 (tax increment financing) of the Iowa Code. 5. Subarea E This Plan shall continue in effect until terminated by the City Council; provided, however, that the collection of tax increment revenues from properties located in Subarea E shall be limited to twenty (20) years from the calendar year following the calendar year in which the City first certifies to the County Auditor the amount of any loans, advances, indebtedness or bonds which qualify for payment from the division of tax increment revenue provided for in Section 403.19 (tax increment financing) of the Iowa Code. 11 The DEVELOPMENT AND REDEVELOPMENT REQUIREMENTS established, or as amended from time to time by the City of Dubuque Zoning Ordinance, shall remain in effect in perpetuity. J. SEVERABILITY In the event one or more provisions contained in this Plan shall be held for any reason to be invalid, illegal, unauthorized or unenforceable in any respect, such invalidity, illegality, unauthorization or unenforceability shall not affect any other provision of this Plan and this Urban Renewal Plan shall be construed and implemented as if such provision had never been contained herein. K. AMENDMENT OF APPROVED URBAN RENEWAL PLAN This Plan may be amended from time to time to respond to development opportunities. Any such amendment shall conform to the requirements of Chapter 403 of the Iowa Code. Any change effecting any property or contractual right can be effectuated only in accordance with applicable state and local law. L. ATTACHMENTS A Urban Renewal District Map B Public Purpose Activity Area Map C Land Use Maps C1 Existing Land Use C2 Future Land Use D List of General Obligations 12 of at, while Mired the DPG15a. or currency of he City and r any direct. Intl. I damage.. wile M Ognng c inedentah er foreseeable or authorized use of am breach of I -- w X O) W J W —1 MAJESTIC 0 co • DWANE. leis mformatwn was compd. using the Dubuque Prea GeagrsnhSd Information 5t 10.05), wmdh mcludea data County b is by by both both me C Dubuque and Dubuque County_ leis understood the City of Dubuque and participating agents cement most a. accurate ;nformanon es er do not warrant the war Information or data contained he agencies snap not be het for briny to use this data or ou10 MIDDLE U K OL KI SI r� m 55 - o m r T AILS GE OMMERCE Dubuque Industrial Center Economic Development District Version 2011.1 Q SA (WEDGE Z DDLE Q cr O ■ Atachment C -1 Existing Land Use Dubuque Industrial Center Econoimc Development District Version 2011.1 1 inch = 2,000 feet Existing Zoning Agricultural (AG) Planned Industrial (PI) ± • SA PWEDGE Z IDDLE Q O Atachment C -2 Futu Land Use Dubuque Industrial Center Econoimc Development District Version 2011.1 1 inch = 2,000 feet 1/1<<F' / 1 M Industrial Uses Planning Services Department City Hall 50 West 13th Street Dubuque, IA 52001 -4864 (563) 589 -4210 phone (563) 589 -4221 fax (563) 589 -6678 TDD planning@cityofdubuque.org The Honorable Mayor and City Council City of Dubuque 50 W.13 Street Dubuque, IA 52001 RE: Dubuque Industrial Center Economic Development District Expansion -- South Siegert Farm Dear Mayor and City Council Members: Introduction On February 16, 2011, the Long Range Planning Advisory Commission reviewed the proposed expansion of the Dubuque Industrial Center Economic Development District to add the South Siegert Farm Subarea. The proposal, staff reports, and related materials are enclosed. Discussion At the Commission meeting, Aaron DeJong, Assistant Economic Development Director, reviewed that the amendment will provide the South Siegert Farm Subarea with access to the financial tools and incentives available in the Dubuque Industrial Center Economic Development District. Laura Carstens, Planning Services Manager, reviewed the future land use planning that had been done for the South Siegert Farm Subarea and noted the consistency of the proposal to the Land Use and Urban Design, Economic Development and City Fiscal Elements of the Comprehensive Plan. The Commission reviewed the primary objectives of the Dubuque Industrial Center Economic Development District, and discussed the benefits of the proposed expansion. They noted it is consistent with the Comprehensive Plan. Recommendation By a vote of 7 -0, the Long Range Planning Advisory Commission recommends approval of the Dubuque Industrial Center Economic Development District expansion to add the South Siegert Farm Subarea as it is consistent with the 2008 Dubuque Comprehensive Plan. Respectfully submitted, Jim Prochaska, Chairperson Long Range Planning Advisory Commission Enclosures cc: Michael Van Milligen, City Manager David Heiar, Economic Development Director Masterpiece on the Mississippi February 24, 2011 • Masterpiece on the Mississippi Dubuque hfritil M•Amedcacity 1 2007 TO: Long Range Planning Advisory Commission FROM: Laura Carstens, Planning Services Manager '--(- SUBJECT: Addition of the South Siegert Farm property to the Dubuque Industrial Center Economic Development District DATE: February 16, 2011 Introduction The proposed amendment to the Amended and Restated Urban Renewal Plan for the Dubuque Industrial Center (DIC) Economic Development District would add the South Siegert Farm property into a new Subarea E. The subarea can be seen in Attachment A of the enclosed Urban Renewal Plan provided by the Economic Development Department. • Discussion One of the roles of the Long Range Planning Advisory Commission is to review urban renewal plans and any amendments for consistency with the Comprehensive Plan. The proposed amendment will provide the South Siegert Farm property with access to the financial tools and incentives available in the DIC Economic Development District. Planning Services Staff has reviewed the primary objectives of the DIC Urban Renewal Plan. Staff finds the objectives are consistent with the 2008 Dubuque Comprehensive Plan, with greatest relevance to the Land Use and Urban Design, Economic Development and City Fiscal Elements. Recommendation Staff recommends the Long Range Planning Advisory Commission recommend approval of the amendment to the Amended and Restated Urban Renewal Plan for the DIC Economic Development District to add the South Siegert Farm property, as the proposed amendment is consistent with the 2008 Dubuque Comprehensive Plan. Enclosures cc: David Heiar, Economic Development Director Masterpiece on the Mississippi TO: Long Range Planning Advisory Commission (LRPAC) FROM: David J. Heiar, Economic Development Director SUBJECT: Addition of the South Siegert Farm property to the Dubuque Industrial Center Economic Development District DATE: February 4, 2011 Dubuque bitri AA- Merlca city 2007 Introduction The purpose of this memorandum is to forward for LRPAC review and approval the Amended and Restated Urban Renewal Plan for the Dubuque Industrial Center Economic Development District. The proposed amendment of this district would add the area known as the "South Siegert Farm" into a new Subarea E of the Dubuque Industrial Center Economic Development District. The Plan and Resolution adopting the Plan are attached. Background On January 18, 2011, the City Council approved a Resolution of Necessity finding that the proposed expansion area was an economic development area and appropriate for urban renewal activities. Staff has prepared an Amended and Restated Urban Renewal Plan for the area as per the directive of the City Council. A consultation process will be conducted with the affected taxing entities as required by State Law. The required consultation with affected taxing bodies will be held on February 18, 2010. Discussion The amendments to the Urban Renewal Plan will expand the district to include Subarea E, commonly referred to as the South Siegert Farm. These amendments would provide the expanded area access to the tools and incentives available to urban renewal district properties, including tax increment financing. City Council public hearing on the amended and restated Urban Renewal Plan is scheduled for March 7, 2010. The public notice will be published 4 to 20 days prior to the meeting to allow for the appropriate reporting requirements. I recommend expanding the District and amending the Urban Renewal Plan to include the Subarea E because demand for industrial land is expected to continue at its current pace and additional land will be needed. Recommendation I recommend approval of the attached Resolution for approval of the Amended and Restated Urban Renewal Plan for the Dubuque Industrial Center Economic Development District. Action Step The Action Step for the LRPAC is to recommend approval of the attached Resolution. attachments F:\USERS\Econ Dev \Urban Renewal\Dubuque Industrial Center UR District\2011.1 DIC Urban Renewal Plan\20110204 DIC UR 2011.1 Memo LRPAC.doc Prepared By: David Heiar ED Director City of Dubuque 50 W. 13 St. Dubuque, IA 52001 (563) 589 -4393 Return To: David Heiar ED Director City of Dubuque 50 W. 13 St. Dubuque, IA 52001 (563) 589 -4393 RESOLUTION NO. A RESOLUTION APPROVING THE AMENDED AND RESTATED URBAN RENEWAL PLAN FOR THE DUBUQUE INDUSTRIAL CENTER ECONOMIC DEVELOPMENT DISTRICT. Whereas, on January 18, 2011 the City Council of the City of Dubuque, Iowa set a public hearing to approve an and Restated Urban Renewal Plan (the "Plan ") for the Dubuque Industrial Center Economic Development District (the "District "); and Whereas, the City of Dubuque's primary objective in amending this Plan is to add a Subarea E, commonly known as the South Siegert Farm; and Whereas, the Long Range Planning Commission has reviewed the proposed Plan and has found that said document is consistent with the Comprehensive Plan for the development of the City of Dubuque as a whole and has transmitted its findings to the City Council; and Whereas, a consultation process has been undertaken with affected taxing entities in accordance with Chapter 403 of the Code of Iowa with no written objections or recommended changes to the Plan received; and Whereas, the City Council, in accordance with Chapter 403 of the Code of Iowa, has held a public hearing on the proposed amended and restated Plan after public notice thereof. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DUBUQUE, IOWA: Section 1. That the Amended and Restated Urban Renewal Plan for the Dubuque Industrial Center Economic Development District, attached hereto and made reference to herein and the addition of Subarea E, be approved. Section 2. That the City Clerk of the City of Dubuque, Iowa is hereby authorized and directed to file a certified copy of the Resolution in the office of the Dubuque County Recorder. Passed, approved and adopted this 7 day of March, 2011. Attest: Jeanne F. Schneider City Clerk Roy D. BuoI Mayor F: \USERS\Econ Dev \Urban Renewal\Dubuque Industrial Center UR District\2011.1 DIC Urban Renewal Plan \20110307 DIC UR 2011.1 Adopt Resolution.doc AMENDED and RESTATED URBAN RENEWAL PLAN Dubuque Industrial Center Economic Development District City of Dubuque, Iowa This Amended and Restated Urban Renewal Plan provides for the continued development of the Dubuque Industrial Center Economic Development District, originally established by Resolution 130 -88 of the City Council of the City of Dubuque, Iowa on May 2, 1988 and thereafter amended and restated by Resolution 484 -90 on December 17, 1990, Resolution 142 -97 on April 7, 1997, Resolution 478 -97 on November 17, 1997, Resolution 15 -08 on January 7, 2008, Resolution 101 -08 on March 17, 2008, Resolution 109 -08 on April 7, 2008, and Resolution on March 7, 2011. Prepared by the Economic Development Department. Version 2011.1 TABLE OF CONTENTS A. INTRODUCTION 3 B. OBJECTIVES 3 C. DISTRICT BOUNDARIES 4 D. PUBLIC PURPOSE ACTIVITIES 6 E. DEVELOPMENT & REDEVELOPMENT REQUIREMENTS 7 F. LAND ACQUISITION AND DISPOSITION 8 G. FINANCING ACTIVITIES 8 H. STATE AND LOCAL REQUIREMENTS 10 I. DURATION OF APPROVED URBAN RENEWAL PLAN 10 J. SEVERABILITY 12 K. AMENDMENT OF APPROVED URBAN RENEWAL PLAN 12 L. ATTACHMENTS 12 2 AMENDED and RESTATED DUBUQUE INDUSTRIAL CENTER ECONOMIC DEVELOPMENT DISTRICT URBAN RENEWAL PLAN A. INTRODUCTION B. OBJECTIVES City of Dubuque, Iowa This AMENDED and RESTATED URBAN RENEWAL PLAN (the "Plan ") has been prepared to provide for the further development and redevelopment of the DUBUQUE INDUSTRIAL CENTER ECONOMIC DEVELOPMENT DISTRICT (the "District ") first established by the City of Dubuque on May 2, 1988. Its intent is to stimulate economic development activities within the expanded District through the commitment of public actions as specified herein. To achieve this objective, the City of Dubuque shall undertake the urban renewal actions specified in this Plan, pursuant to the powers granted to it under Chapter 403 of the Iowa Code, Urban Renewal Law. This Plan is an amendment and restatement of the Dubuque Industrial Center Economic Development District Urban Renewal Plan adopted by Resolution 130 -88 of the City Council of the City of Dubuque, Iowa on May 2, 1988 and subsequently amended by Resolution 484 -90 on December 17, 1990, Resolution 142 -97 on April 7, 1997, Resolution 478 -97 on November 17, 1997, Resolution 15 -08 on January 7, 2008, Resolution 101 -08 on March 17, 2008, Resolution 109 -08 on April 7, 2008, and Resolution on March 7, 2011. This Plan shall serve as a new urban renewal plan for the District described herein. The division of taxation authorized by Section 403.19 and the separation of incremental taxes as defined in Section 403.19(2) have been implemented in the existing area of the District (the different areas of the district hereinafter referred to as Subareas). Under the terms of this Amended and Restated Plan, the tax increment mechanism shall be continued and implemented within the revised area of the District as well. The revised District shall be subject to the provisions of a revised ordinance of the City of Dubuque with respect to the division of taxes levied and collected within each of Subareas A, B, C, D, and E of the District. Incremental taxes shall continue to be determined separately with respect to each of the Subareas comprising the District, and when collected shall be applied, subject to such liens and priorities as may exist or be from time to time provided, with respect to the Amended and Restated Dubuque Industrial Center Economic Development District, as so amended. 3 The primary objectives of the Plan are the development and redevelopment of the District for economic development activities, primarily industrial park development, through: 1. Provision of marketable industrial development sites for the purpose of job- creating economic development activities; 2. Provision of public infrastructure improvements, including sanitary sewer, water and stormwater detention, supportive of full development of the District; 3. Provision of a safe, efficient and attractive circulation system; 4. Establishment of design standards which will assure cohesive and compatible development and redevelopment of the District; 5. Provision of public amenities that provide an aesthetically appealing environment, including open space, buffering, landscaping, water features, signage and lighting to create a distinctive and attractive setting; 6. Creation of financial incentives necessary to encourage new and existing businesses to invest in the District; and 7. Expansion of the property tax base of the District. C. DISTRICT BOUNDARIES The District is located within the City of Dubuque, County of Dubuque, State of Iowa. The City of Dubuque believes that the objectives of the Plan can best be accomplished by defining the real property included within the District as four separate areas so as to distinguish the original District (Subarea A) from the subsequent expansion areas (Subareas B, C, and D). Subarea A of the District shall consist of the real property legally described as follows: All of the Dubuque Industrial Center First, Second, Third, Fourth, Fifth, Sixth, Seventh, Eighth, Ninth, Tenth and Eleventh Additions and the adjoining public right -of -way, all in the City of Dubuque, Dubuque County, Iowa. Subarea B of the District shall consist of the real property legally described as follows: • Lots 1, 3, 4, 1 of 5, 6 and H of Dubuque Industrial Center West; and • Lots 1, 2, 3, 4, 5, 6, 7, 8, and C of Dubuque Industrial Center West 2 " Addition; and • Lots 1, 2, 3, 4, B, and C of Dubuque Industrial Center West 4th Addition; and • Lots 1 of 1, 1 of 2, 2 of 2, 1 of 3, 2 of 3, 1 of 5, A, C, and D of Dubuque Industrial 4 Center West 5th Addition; and • Lots 1, 2, and A of Dubuque Industrial Center West 6th Addition; and • Lots 1, 1 of 2, and 2 of 2 of Dubuque Industrial Center West 7th Addition; and • Lot 2 of 1 of the Southwest Quarter of the Southwest Quarter and Lot 2 of 1 of the Southeast Quarter of the Southwest Quarter all in Section 30, Township 89 North, Range 2 East, 5 Principal Meridian; • and all that part of a 100 - foot -wide strip of the Chicago Central Pacific Railroad right -of -way lying in the SE 1/4 of Section 30, the SE 1/4 of the SW 1/4 of Section 30, the NW 1/4 of Section 31, and the NE 1/4 of Section 31 all in T89N, R2E, of the 5th P.M. Dubuque County, Iowa, the centerline of which is more particularly described as follows: beginning at a point of intersection with the easterly line of the SE 1/4 of Section 30, T89N, R2E, of the 5th P.M., thence southwesterly along the centerline of said railroad 2,700 feet, more or less a point of intersection with the westerly line of the SE 1/4 of said Section 30; thence southwesterly continuing along said centerline 845 feet, more or Tess, to a point where the railroad right -of -way widens to 200 feet, said point being the terminus of this description; and • all that part of a 100 - foot -wide strip of the Chicago Central Pacific Railroad right - of -way lying in the Balance of Lot 1 of 1 of the Southwest Quarter of the Southwest Quarter in Section 29, Township 89 North, Range 2 East, 5 Principal Meridian; and • any adjoining public street right -of -way all in the City of Dubuque, Dubuque County, Iowa. Subarea C of the District shall consist of the real property legally described as follows: • Lot 1 -1 NW 1 /4 -NE 1/4; Lot 2 of E 10 acres NE 1 /4 -NW 1/4; Lot 2 -1 NW 1 /4 -NE 1/4; Lot 2 NW 1 /4 -NE 1/4; Lot 1 E 1/4 NE 1 /4 -NW 1/4; W 3/4 NE 1 /4 -NW 1/4; Lot 2 -1 SE 1 /4 -NW 1/4; Lot 1 -1 SE 1 /4 -NW 1/4; and the SW 1 /4 -NE 1/4 all in Section 30, Township 89 North, Range 2 East, 5th Principal Meridian; and any adjoining public street right -of -way in the City of Dubuque, Dubuque County. Subarea D of the District shall consist of the real property legally described as follows: • Lot 4 of Dubuque Industrial Center West 5th Addition, and Lot B of Dubuque Industrial Center West 5th Addition in the City of Dubuque, Iowa. Subarea E of the District shall consist of the real property legally described as follows: • All of Lot 1 of 1 and Lot 2 of 1 of the South Fork Subdivision No. 1, including any adjoining public street right -of -way to said Tots, all in the City of Dubuque, Dubuque County, Iowa, and; • All of Seippel Road right of way from the north boundary line of Lot 1 of 1 of South Fork Subdivision No. 1 in the City of Dubuque, to the south boundary lines of Lot H of Dubuque Industrial Center West and Lot 1 of Dubuque Industrial 5 Center West 2nd Addition in the City of Dubuque, Dubuque County, Iowa, including crossings at the intersections of Old Highway Road and Chicago Central & Pacific Railroad rights -of -way. The boundaries of the District are delineated on the URBAN RENEWAL DISTRICT map (Attachment A). The City of Dubuque reserves the right to modify the boundaries of the District at some future date. Any amendments to the Plan will be completed in accordance with Chapter 403 of the Iowa Code, Urban Renewal Law. D. PUBLIC PURPOSE ACTIVITIES To meet the OBJECTIVES of this Plan, the City of Dubuque is prepared to initiate and support development and redevelopment of the District through, among other things, the following PUBLIC PURPOSE ACTIVITIES: 1. Acquisition of property for public improvements and private development; 2. Demolition and removal of buildings and improvements not compatible with or necessary for industrial park development and all site preparation and grading required in connection with such development; 3. Improvement, installation, construction and reconstruction of streets, utilities and other improvements and rights -of -ways including but not limited to the relocation of overhead utility lines, street lights, construction of railroad spur tracks, appropriate landscaping and buffers, open space and signage; 4. Disposition of any property acquired in the District, including sale, initial leasing or retention by the City itself, at its fair value; 5. Preparation of property for development and redevelopment purposes including but not limited to activities such as appraisals and architectural and engineering studies; 6. Use of tax increment financing, loans, grants and other appropriate financial tools in support of eligible public and private development and redevelopment efforts; 7. Enforcement of applicable local, state and federal laws, codes and regulations; 8. Enforcement of established design standards in furtherance of quality development; 6 9. Development and implementation of a marketing program for the purpose of promoting the purchase and development of industrial sites by private developers; 10. Coordination and cooperation with the improvement of Seippel Road as it affects Subarea B's accessibility to U.S. Highway 20. Public purpose activities are limited to those areas delineated on the PUBLIC PURPOSE ACTIVITY AREA map (Attachment B). All public purpose activities shall be conditioned upon and shall meet the restrictions and limitations placed upon the District by the Plan. E. DEVELOPMENT & REDEVELOPMENT REQUIREMENTS The LAND USE and PLANNING AND DESIGN CRITERIA set forth herein shall apply to any and all District properties the development and /or the redevelopment of which is assisted by the City through any of the PUBLIC PURPOSE ACTIVITIES listed above. 1. Land Use Subareas A, B, C, and D shall continue to be developed under the regulations of the existing Dubuque Industrial Center Planned Industrial District. The allowed uses provide for a mix of commercial and industrial land use activities within a quality industrial park setting. LAND USE maps (Attachments C1 and C2) identify the existing and the proposed land uses within Subareas A, B, C, D, and E. 2. Planning and Design Criteria The planning criteria to be used to guide the physical development of Subareas A, B, C, D, and E are those standards and guidelines contained within the City of Dubuque's Zoning Ordinance and other applicable local, state and federal codes and ordinances. a. Subarea A development will continue to be additionally governed by the Conditions of Development and Operation Documents of the Dubuque Industrial Center Planned Industrial District as amended from time to time. b. Subareas B, C, and D will develop under a PI Planned Industrial District ordinance as required by Section 3 -5.5 of the City of Dubuque Zoning Ordinance. Development will follow the Planned Unit Development regulations which require a conceptual development plan and specific design and performance standards to be approved by ordinance. 7 c. Subarea E is intended to develop as an Industrial area similar to Subareas B, C, and D. F. LAND ACQUISITION AND DISPOSITION The City of Dubuque is prepared to acquire and dispose of property in support of the development and redevelopment of the District within the parameters set forth below. 1. Land Acquisition All necessary land acquisitions have been completed in Subareas A, B, C, D, and E of the District. 2. Land Disposition Publicly held land will be sold for the development of viable uses consistent with this Plan and not for purposes of speculation. Land will be disposed of in accordance with the requirements set forth in Chapter 403 of the Iowa Code, Urban Renewal Law. Developers will be selected on the basis of the quality of their proposals and their ability to carry out such proposals while complying with the requirements of this Plan. Developers will be required by contractual agreement to observe the Land Use Requirements and Planning and Design Criteria of this Plan. The contract and other disposition documents will set forth the provisions, standards and criteria for achieving the objectives and requirements outlined in this Plan. 3. Relocation Requirements No relocation is anticipated at this time. G. FINANCING ACTIVITIES To meet the OBJECTIVES of this Plan and to encourage the development of the District and private investment therein, the City of Dubuque is prepared to provide financial assistance to qualified industries and businesses through the making of loans or grants under Chapter 15A of the Iowa Code and through the use of tax increment financing under Chapter 403 of the Iowa Code. 1. Chapter 15A Loan or Grant The City of Dubuque has determined that the making of loans or grants of public funds to qualified industries and businesses is necessary to aid in the planning, undertaking and completion of urban renewal projects authorized under this Plan 8 within the meaning of Section 384.24(3)(q) of the Iowa Code. Accordingly, in furtherance of the objectives of this Plan, the City of Dubuque may determine to issue bonds or loan agreements, in reliance upon the authority of Section 384.24A, Section 384.24(3)(q), Section 403.12 (general obligation bonds) or Section 403.9 (tax increment bonds), for the purpose of making loans or grants of public funds to qualified businesses. Alternatively, the City may determine to use available funds for the making of such loans or grants. In determining qualifications of recipients and whether to make any such individual loans or grants, the City of Dubuque shall consider one or more of the factors set forth in Section 15A.1 of the Iowa Code on a case -by -case basis. 2. Tax Increment Financing The City of Dubuque is prepared to utilize tax increment financing as a means of financing eligible costs incurred to implement the Public Purpose Activities identified in Part D of this Plan. Bonds, tax rebate agreements and \or loan agreements may be issued by the City under the authority of Section 403.9 of the Iowa Code (tax increment bonds) or Section 384.24A, Section 384.24(3)(q) and Section 403.12 (general obligation bonds). The City acknowledges that the use of tax increment revenues delays the ability of other local taxing bodies to realize immediately the direct tax benefits of new development in the District. The City believes, however, that the use of tax increment revenues to finance the development of new industrial land and to promote private investment in the District is necessary in the public interest to achieve the OBJECTIVES of this Plan. Without the use of this special financing tool, new investment may not otherwise occur or may occur within another jurisdiction. If new development does not take place in Dubuque, property values could stagnate and the City, County and School District may receive Tess taxes during the duration of this Plan than they would have if this Plan were not implemented. Tax increment financing will provide a long -term payback in overall increased tax base for the City, County and School District. The initial public investment required to generate new private investment will ultimately increase the taxable value of the District well beyond its existing base value. Tax increment reimbursement may be sought for, among other things, the following costs to the extent they are incurred by the City: a. Planning and administration of the Plan; b. Construction of public infrastructure improvements and facilities within the District; c. Acquisition, installation, maintenance and replacement of public 9 investments throughout the District including but not limited to street lights, landscaping and buffers, signage and appropriate amenities; d. Acquisition of land and /or buildings and preparation of same for sale or lease to private developers, including any "write down" of the sale price of the land and /or building; e. Preservation, conservation, development or redevelopment of buildings or facilities within the District to be sold or leased to qualified businesses; f. Loans or grants to qualified businesses under Chapter 15A of the Iowa Code, including tax rebate payments, debt service payments on any bonds issued to finance such loans or grants, for purposes of expanding the business or activity, or other qualifying loan programs established in support of the Plan; and g. Providing the matching share for a variety of local, state and federal grants and loans. 3. Proposed Amount of Indebtedness At this time, the extent of improvements and new development within the District is only generally known. As such, the amount and duration for use of the tax increment revenues for public improvements and /or private development can only be estimated; however, the actual use and amount of tax increment revenues to be used by the City for District activities will be determined at the time specific development is proposed. It is anticipated that the maximum amount of indebtedness which will qualify for tax increment revenue reimbursement during the duration of this Plan, including acquisition, public improvements and private development assistance within this district, will not exceed $50,000,000. At the time of adoption of this Plan, the City of Dubuque's current general obligation debt is $ 95,918,516 (a list of obligations is found as Attachment D) and the applicable constitutional debt limit is $174,325,144, for the Fiscal Year starting July 1, 2011. H. STATE AND LOCAL REQUIREMENTS All provisions necessary to conform with state and local laws have been complied with by the City of Dubuque in the implementation of this Plan and its supporting documents. I. DURATION OF APPROVED URBAN RENEWAL PLAN 1. Subarea A 10 This Plan shall continue in effect until terminated by action of the City Council, but in no event before the City of Dubuque has received full reimbursement from all incremental taxes of its advances and principal and interest payable on all Tax Increment Financing or general obligations issued to carry out the OBJECTIVES of the Plan. 2. Subarea B This Plan shall continue in effect until terminated by the City Council; provided, however, that the collection of tax increment revenues from properties located in Subarea B shall be limited to twenty (20) years from the calendar year following the calendar year in which the City first certifies to the County Auditor the amount of any loans, advances, indebtedness or bonds which qualify for payment from the division of tax increment revenue provided for in Section 403.19 (tax increment financing) of the Iowa Code. 3. Subarea C This Plan shall continue in effect until terminated by the City Council; provided, however, that the collection of tax increment revenues from properties located in Subarea C shall be limited to twenty (20) years from the calendar year following the calendar year in which the City first certifies to the County Auditor the amount of any loans, advances, indebtedness or bonds which qualify for payment from the division of tax increment revenue provided for in Section 403.19 (tax increment financing) of the Iowa Code. 4. Subarea D This Plan shall continue in effect until terminated by the City Council; provided, however, that the collection of tax increment revenues from properties located in Subarea D shall be limited to twenty (20) years from the calendar year following the calendar year in which the City first certifies to the County Auditor the amount of any loans, advances, indebtedness or bonds which qualify for payment from the division of tax increment revenue provided for in Section 403.19 (tax increment financing) of the Iowa Code. 5. Subarea E This Plan shall continue in effect until terminated by the City Council; provided, however, that the collection of tax increment revenues from properties located in Subarea E shall be limited to twenty (20) years from the calendar year following the calendar year in which the City first certifies to the County Auditor the amount of any loans, advances, indebtedness or bonds which qualify for payment from the division of tax increment revenue provided for in Section 403.19 (tax increment financing) of the Iowa Code. 11 The DEVELOPMENT AND REDEVELOPMENT REQUIREMENTS established, or as amended from time to time by the City of Dubuque Zoning Ordinance, shall remain in effect in perpetuity. J. SEVERABILITY In the event one or more provisions contained in this Plan shall be held for any reason to be invalid, iilegai, unauthorized or unenforceable in any respect, such invalidity, illegality, unauthorization or unenforceability shall not affect any other provision of this Plan and this Urban Renewal Plan shall be construed and implemented as if such provision had never been contained herein. K. AMENDMENT OF APPROVED URBAN RENEWAL PLAN This Plan may be amended from time to time to respond to development opportunities. Any such amendment shall conform to the requirements of Chapter 403 of the Iowa Code. Any change effecting any property or contractual right can be effectuated only in accordance with applicable state and local law. L. ATTACHMENTS A Urban Renewal District Map B Public Purpose Activity Area Map C Land Use Maps C1 Existing Land Use C2 Future Land Use D List of General Obligations 12 of at, while Mired the DPG15a. or currency of he City and r any direct. Intl. I damage.. wile M Ognng c inedentah er foreseeable or authorized use of am breach of I -- w X O) W J W —1 MAJESTIC 0 co • DWANE. leis mformatwn was compd. using the Dubuque Prea GeagrsnhSd Information 5t 10.05), wmdh mcludea data County b is by by both both me C Dubuque and Dubuque County_ leis understood the City of Dubuque and participating agents cement most a. accurate ;nformanon es er do not warrant the war Information or data contained he agencies snap not be het for briny to use this data or ou10 MIDDLE U K OL KI SI r� m 55 - o m r T AILS GE OMMERCE Dubuque Industrial Center Economic Development District Version 2011.1 Description City of Dubuque Recommended Summary of Bonded Indebtedness - Fiscal Year 2011 -2012 Date Net Amount Principal Principal Interest Principal Year of of Interest of Outstanding Due Due Outstanding Final Issue Rate Issue 7/1/11 FY 2012 FY 2012 6/30/12 Payment General Obligation Bonds (Essential Corporate Purpose) 1 Main Street Refunding 08 -02 -10 2.4203% 705,000 650,000 55,000 15,731 595,000 2021 2 Water Main and Water Tower 12 -01 -02 3.8187% 3,105,000 1,120,000 170,000 45,570 950,000 2017 3 Stormwater Improvements 09 -15 -03 4.2750% 2,110,000 1,420,000 95,000 60,848 1,325,000 2023 3 Stormwater Improvements 04 -18 -05 4.2421% 1,750,000 1,330,000 80,000 55,348 1,250,000 2024 4 DiCW Expansion - Taxable 04 -18 -05 4.9392% 2,995,000 1,590,000 285,000 78,330 1,305,000 2016 4 DICW Expansion -Non Taxable 04 -18 -05 4.1240% 4,270,000 3,590,000 125,000 146,088 3,465,000 2021 5 Refinanced Portions 5th/3rd St Ramps 05 -02 -06 3.9857% 3,360,000 3,025,000 175,000 120,102 2,850,000 2020 5 Refinanced Portions of T- Hangars 05 -02 -06 3.9857% 165,000 165,000 35,000 16,058 130,000 2020 6 Parking Ramp Improvements 05 -02 -06 4.0257% 910,000 670,000 55,000 26,908 615,000 2021 3 Stormwater Improvements 05 -02 -06 4.0665% 2,900,000 2,360,000 125,000 95,228 2,235,000 2025 5 Refinanced Portions 5th /3rd St Ramps 12 -01 -07 3.6731% 2,650,000 2,060,000 315,000 77,250 1,745,000 2017 7 Sewer System Improvements & Ext. 12 -01 -07 3.6596% . 1,055,000 740,000 115,000 26,418 625,000 2017 10 Port of Dubuque Parking Ramp 10 -16 -07 7.5000% 23,025,000 22,740,000 305,000 1,705,500 22,435,000 2037 3 Stormwater Improvements 11 -04 -08 4.5702% 3,885,000 3,500,000 150,000 153,152 3,350,000 2028 11 Kephart's Building 11 -04 -08 4.2334% 377,055 320,530 21,280 12,997 299,250 2024 12 Library Renovation 11 -04 -08 4.2334% 2,457,945 2,089,470 138,720 84,722 1,950,750 2024 4 DICW Expansion - Taxable 11 -04 -08 5.5369% 2,465,000 2,145,000 120,000 115,625 2,025,000 2018 4 DICW Expansion -Non Taxable 11 -04 -08 4.2334% 455,000 385,000 25,000 15,612 360,000 2023 13 Bricktown Parking Lot 12 -01 -08 5.0000% 400,000 352,109 20,874 17,348 331,235 2023 16 America's River Refunding 11 -05 -09 2.7913% 8,885,000 7,560,000 690,000 274,825 6,870,000 2021 17 Airport Improvements 11 -05 -09 3.2913% 230,000 220,000 10,000 10,090 210,000 2029 18 Fire Truck Replacement 11 -05 -09 3.2913% 1,410,000 1,355,000 60,000 62,140 1,295,000 2029 19 Fiber Optic Paving 11 -05 -09 3.2913% 100,000 95,000 5,000 4,275 90,000 2029 20 Streetlight Replacement 11 -05 -09 3.2913% 40,000 35,000 5,000 1,195 30,000 2018 3 Stormwater Improvements 11 -05 -09 3.2913% 1,155,000 1,110,000 45,000 50,980 1,065,000 2029 21 Downtown Parking Ramp 11 -05 -09 3.2325% 9,310,000 8,935,000 380,000 404,375 8,555,000 2029 22 DICW - North Siegert Improvements 11 -05 -09 3.2325% 1,865,000 1,790,000 75,000 81,056 1,715,000 2029 17 Airport Improvements 08 -02 -10 3.2838% 168,933 168,933 6,621 5,127 162,312 2030 25 Refuse Truck Replacements 08 -02 -10 3.2838% 69,946 69,946 2,787 2,158 67,159 2030 3 Stormwater Improvements 08 -02 -10 3.2838% 1,667,481 1,667,481 66,433 51,444 1,601,048 2030 17 Smart Meters for City Buildings 08 -02 -10 3.2838% 49,602 49,602 1,892 1,465 47,710 2030 19 Public Works Equipment Replacement 08 -02 -10 3.2838% 542,488 542,488 21,613 16,736 520,875 2030 20 Street Improvements 08 -02 -10 3.2838% 295,000 295,000 12,060 9,339 282,940 2030 17 Park Water System Study 08 -02 -10 3.2838% 80,000 80,000 3,074 2,381 76,926 2030 7 Sanitary Improvements 08 -02 -10 3.2838% 891,550 891,550 35,520 27,506 856,030 2030 24 Downtown Housing RFP /40 Main 08 -02 -10 3.2838% 2,675,000 2,675,000 90,000 110,196 2,585,000 2030 24 Millwork District Parking 08 -02 -10 3.2838% 2,825,000 2,825,000 115,000 85,300 2,710,000 2030 26 Tri -State Building Purchase 02 -09 -10 0.0000% 330,000 235,714 47,143 188,571 2016 3 Stormwater Improvements 09 -20 -10 1.4900% 2,850,000 2,288,430 80,298 93,502 2,208,132 2032 7* Sewer System Improvements Planned* 4.5000% 4,720,994 4,720,994 169,776 193,327 4,551,218 2032 6* Parking Ramp Improvements Planned* 4.5000% 59,700 59,700 4,120 5,064 55,580 2032 3* Stormwater Improvements Planned* 4.5000% 1,959,409 1,959,409 70,502 80,201 1,888,907 2032 20* Street Improvements Planned* 4.5000% 1,012,000 1,012,000 36,412 41,423 975,588 2032 25* Refuse Truck Replacements Planned* 4.5000% 36,000 36,000 1,773 1,580 34,227 2032 17* 18th Street Building Renovation Planned* 4.5000% 606,409 606,409 367,829 18,542 238,580 2032 27* Intermodal Facility Planned* 4.5000% 280,000 280,000 10,075 11,461 269,925 2032 28* Airport - New Terminal Planned* 4.5000% 673,000 673,000 24,215 27,547 648,785 2032 23* Fire Station Land from Dbq Initiative Planned* 5.0000% 650,000 650,000 52,815 32,185 597,185 2032 22* DICW - South Siegert Improvements Planned* 6.5000% 2,779,751 2,779,751 87,877 164,495 2,691,874 2032 Total General Obligation Bonds 107,257,263 95,918,516 4,988,709 4,738,750 90,929,807 Description City of Dubuque Recommended Summary of Bonded Indebtedness - Fiscal Year 2011 -2012 NOTES: 1 G.O issue for Main Street project backed by Greater Downtown TIF revenue. 2 G.O issue for water main and water tower backed by water revenue. *3 G.O issues for Stormwater improvements backed by stormwater revenue. 4 G.O Urban Renewal issues for Dubuque Industrial Center West (DICW) expansion backed by DICW TIF revenues. 5 G.O issue refunding bonds. Refinanced portions of the June 2000 and November 2000 bond issues. *6 G.O issue for Iowa St. Ramp Major Ramp Improvements backed by Greater Downtown TIF revenue in FY 09 and FY 10, then parking user fees. *7 G.O. issue for Sewer system improvements & extensions backed by sewer revenue 10 TIF bond issue for the Port of Dubuque Parking Ramp backed by Greater Downtown TIF & a minimum assessment agreement 11 TIF bond issue for Kephart's Bldg Renovation backed by Greater Downtown TIF. 12 G.O Urban Renewal issue for Library renovation backed by Greater Downtown TIF revenues. 13 G.O. loan from Dubuque Initiatives for 290 Locust Parking lot (Bricktown) backed by parking revenue. 16 G.O issues for America's River Project Port of Dubuque improvements backed by gaming revenue from DRA lease and DRA taxes and Greater Downtown TIF revenue . *17 G.O issues for various City Building improvements backed by Sales Tax (20 %). 18 G.O. issue for fire truck replacement backed by debt service levy. 19 G.O. issue for fiber optic paving and Public Works equipment replacements backed by Road use Tax Funds. *20 G.O. issue for street light replacement and other street improvements backed by Sales Tax (30 %). 21 G.O. issue downtown parking backed by Greater Downtown TIF revenues. 22 G.O. issue for North and South Siegert improvements backed by Dubuque Industrial Center West (DICW) TIF revenues. *23 G.O. loan from Dubuque Initiatives for development costs of land off the NW Arterial for Fire Station Expansion /Relocation backed by gaming revenue from DRA lease. 24 G.O. Urban Renewal issues for Millwork District Parking, Downtown Housing, & 40 Main projects backed by Greater Downtown TIF revenues. 25 G.O. Issue for refuse truck replacements backed by Solid Waste revenue. 26 Land contract for 6 years with 0% interest. *27 G.O. Urban Renewal issue for Intermodal Facility baced by Greater Downtown TIF revenue. *28 Airport Passenger Facility Revenue Bonds for the construction of the new terminal backed by Passenger Facility Charges. Date Net Amount Principal Principal Interest Principal Year of of Interest of Outstanding Due Due Outstanding Final Issue Rate Issue 7/1/11 FY 2012 FY 2012 6/30/12 Payment Revenue Bonds 8 Water- Clear Well Reservoirs 10 -01 -07 3.25% 1,037,000 917,000 42,000 29,802 875,000 2028 9 Water System Improvements & Ext. 11 -04 -08 4.71% 1,195,000 1,055,000 70,000 47,332 985,000 2023 9 Water System Improvements & Ext. 08 -16 -10 3.54% 5,700,000 5,700,000 185,000 190,275 5,515,000 2030 9 Water System Improvements & Ext. Planned* 4.50% 4,248,157 4,248,157 152,853 173,883 4,095,304 2032 14 Water Pollution Control Plant Upgrade 03 -11 -09 3.25% 64,885,000 64,885,000 1,554,283 64,885,000 2035 14 Northfork Catfish Sanitary Improvements 12 -28 -06 3.25% 253,850 219,484 42,105 31,821 177,379 2029 15 Northfork Catfish Stormwater lmprov. 12 -28 -06 3.25% 615,354 570,097 23,747 18,337 546,350 2029 15 West 32nd Detention Basin 01 -14 -09 3.25% 1,847,000 1,628,000 73,000 52,910 1,555,000 2028 8 Water Meter Change Out Program 11 -01 -09 3.25% 7,676,000 7,676,000 299,302 228,626 7,376,698 2029 15* Bee Branch Restoration Planned* 3.25% 18,338,102 18,338,102 414,948 544,087 17,923,154 2042 Total Revenue Bonds 105,795,463 105,236,840 1,302,955 2,871,356 103,933,885 Tax Increment Eagle Window (Otto A, LLC) 02 -15 -00 9.1% 3,168,538 458,700 458,700 31,622 2012 Vessel Systems 12 -30 -03 8.0% 140,000 69,357 15,346 5,262 54,011 2015 Adams Company G.O TIF 02 -13 -04 4.07% 500,000 181,818 45,454 9,250 136,364 2015 Total Tax increment Bonds 3,808,538 709,875 519,500 46,134 190,375 Lower Main Development, LLC TIF Note 06 -30 -04 8.00% 182,000 108,156 18,409 8,291 89,747 2016 Theisen Supply, Inc. TIF Note 11 -22 -06 8.25% 812,000 628,045 69,593 50,407 558,452 2018 40 Main TIF Note 08 -06 -09 3.00% 300,000 300,000 300,000 5,240 2012 44 Main TIF Note 10 -26 -10 6.00% 337,000 337,000 19,653 337,000 2027 Total Tax increment Notes 1,631,000 1,373,201 388,002 83,591 985,199 Total Tax Increment 5,439,538 2,083,076 907,502 129,725 1,175,574 City of Dubuque Recommended Summary of Bonded Indebtedness - Fiscal Year 2011 -2012 Other Loans - Revenue Backed Water Line To Site B 07 -01 -97 Internal Loan 597,945 109,986 53,521 6,049 56,465 2013 Total Other Lns -Rev Backed 597,945 109,986 53,521 6,049 56,465 Total City Indebtedness 219,090,209 203,348,418 7,252,687 7,745,880 196,095,731 NOTES: 8 Revenue Bond State Revolving Loan Fund issue for Water system improvements and extensions backed by water revenue. 9 Revenue Bond issue for Water system improvements and extensions backed by water revenue. 14 Revenue Bond State Revolving Loan Fund issue for sewer improvements backed by sewer revenue. 15 Revenue Bond State Revolving Loan Fund Issue for storm system improvements backed by stormwater revenue