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Greater Downtown Urban Renewal District -TIF District Ordinance AmendmentMasterpiece on the Mississippi TO: The Honorable Mayor and City Council Members FROM: Michael C. Van Milligen, City Manager SUBJECT: Tax Increment Ordinance for the Greater Downtown Urban Renewal District DATE: May 31, 2011 Dubuque AN- AmericaCity 2007 On March 7, 2011 the City Council approved an amended and restated Urban Renewal Plan for the Greater Downtown Urban Renewal District which added the South Bluff Street Subarea to the Urban Renewal District. On May 2, 2011 the City Council approved an amended and restated Urban Renewal Plan for the Greater Downtown Urban Renewal District which added the Kerper Boulevard, Chaplain Schmitt, Industrial Harbor, Washington Neighborhood, and East 7th Street Subareas to the Urban Renewal District. Adoption of the proposed tax increment ordinance is needed to establish the use of tax increment financing in the recently expanded areas of the district. The ordinance authorizes the City to establish a special fund for the collection of a portion of the property tax revenues generated by new development occurring within the ten subareas of the district. All taxable property located with the tax increment district will continue to pay property taxes based upon the current tax levies and assessment valuations. Tax revenues collected in excess of the base amounts will be used to assist in financing future development projects within the district, including both public and private development. Economic Development Director Dave Heiar recommends City Council approval of an ordinance amending the tax increment financing district for the Greater Downtown Urban Renewal District to allow for TIF collection on these properties. I concur with the recommendation and respectfully request Mayor and City Council approval. MCVM:jh Mi hael C. Van Milligen Attachment cc: Barry Lindahl, City Attorney Cindy Steinhauser, Assistant City Manager David J. Heiar, Economic Development Director Masterpiece on the Mississippi TO: Michael Van Milligen, City Manager FROM: David J. Heiar, Economic Development Director SUBJECT: Tax Increment Ordinance for the Greater Downtown Urban Renewal District DATE: May 25, 2011 Dubuque kittrd All- Ameaica Cily 2007 Introduction This memorandum transmits for City Council review and adoption an ordinance amending the tax increment financing district for the Greater Downtown Urban Renewal District. The proposed ordinance was reviewed by the City's bond counsel and is attached to this memo. Background On March 7, 2011 the City Council approved an amended and restated Urban Renewal Plan for the Greater Downtown Urban Renewal District which added the South Bluff Street Subarea to the Urban Renewal District. On May 2, 2011 the City Council approved an amended and restated Urban Renewal Plan for the Greater Downtown Urban Renewal District which added the Kerper Boulevard, Chaplain Schmitt, Industrial Harbor, Washington Neighborhood, and East 7 Street Subareas to the Urban Renewal District. The tax increment ordinance also needs to be updated to allow for TIF collection on these properties. Discussion Adoption of the proposed tax increment ordinance is needed to establish the use of tax increment financing in the recently expanded areas of the district. The ordinance authorizes the City to establish a special fund for the collection of a portion of the property tax revenues generated by new development occurring within the ten subareas of the district. All taxable property located with the tax increment district will continue to pay property taxes based upon the current tax levies and assessment valuations. Tax revenues collected in excess of the base amounts will be used to assist in financing future development projects within the district, including both public and private development. Adoption of the ordinance will continue the existing base valuations for the Original Project Areas (all ten subareas). The new areas, called the Bluff Street Subarea, Kerper Boulevard Subarea, East 7 Street Subarea, Industrial Harbor Subarea, Chaplain Schmitt Subarea, and Washington Neighborhood Subarea, will be assigned its own base valuation date. Recommendation I recommend that the City Council approve the tax increment ordinance for the Greater Downtown Urban Renewal District. Tax increment financing is an important tool for economic development and will be used to assist future public and private development efforts in the downtown, warehouse, and riverfront areas, including the Bluff Street area. Action Step The action step is for the City Council to approve the amended tax increment ordinance attached hereto. attachment F: \USERS\Econ Dev \Urban Renewal \Greater Downtown UR District\2011.2 Amendment \TIF Ordinance \20110527 GD TIF ord memo.doc OFFICIAL PUBLICATION ORDINANCE NO. 33-11 AN ORDINANCE AMENDING ORDI- NANCE NOS. 51 -10, 64-97 and 43-94, EACH AS PREVIOUS- LY AMENDED, PRO - VIDING'THAT GENER- AL PROPERTY TAXES LEVIED AND COL- LECTED EACH YEAR ON ALL PROPERTY LOCATED WITHIN THE GREATER DOWN- TOWN URBAN RE- NEWAL DISTRICT OF THE CiTY OF DUBU - QUE, COUNTY OF DU- BUQUE, STATE OF10 - WA, BY AND FOR THE BENEFIT OF THE STATE OF IOWA, CITY OF DUBUQUE, COUN- TY OF DUBUQUE, DU- BUQUE COMMUNITY May 18, 1967, pursuant to Sectlon the Code of Iowa; and WHEREAS, the origi- nal Downtown, Dubu- que Project, Iowa R -15, sub- sequently . was amend- ed by Resolution No. 79 -71 approved -on Marco- 15,.1971, by•Res- olUtlon No. 73 -774 ap- proved on March 11, 1974, by Resolution No. 107 -82 approved on May 3, 1982, by Resolu- tion No. 191 -84 ap- proved. on June 25, 1984, by Resolution No. 37.1-93 approved on De- cember 6,1993, by Res- olution No 145 -94 ap- proved on May 2, 1994, by Resolution No.. 479. 97 approved on. No, vember 17, 1997, by Resolution No 476 -98 approved on October 19, 1998 and by Resolu- tion No. 187 -02 ap- proved on April 1, 2002, which amend- ments, among other things, added areas referred to as the Old Main Subarea, Town Clock Expansion Subarea and Upper Main Subarea to the area of the Down- town Dubuque Urban Renew -al District; and 1 WHEREAS, consistent with the foregoing amendments, Ordi- nance No. 30-82 subset quently was amended by Ordinance Nos, 21 94; 36 -94, 67 -97, and 26- 02 to provide for the' dir vision of taxes within the several subareas of the amended Down- town Dubuque Urban Renewal District; and WHEREAS, the City- Council of the City has heretofore,, ip Ordi-. nance No. 66.89, prat, vided for the division of taxes .within the original Ice Harbor Ur- ban Renewal District, described in Resolution No. 403 -89 adopted on December 18, 1989, pursuant to Section 403.19 of the Code of Iowa; and WHEREAS, the origi- nal Ice Harbor Urban Renewal District subse- quently was amended by Resolution No. 241- 00 approved on June 5, 2000 and by Resolution 114 -02 approved on March 4, 2002, which amend - ments, among other things, added an additional area refer- red to as Subarea B to the area of theice Har- bor Urban Renewal Dis- ment Ordinance Nos. 30;82 and 66 -89 were amended by+Or`dlnance No. 35 -04.to provide for the division of taxes within the varlous sub- areas of the Greater Downtown Urban Re- newal District and WHEREAS, the Urban Renewal Plan for .the ' Greater Downtown Ur- ban Renewal District was amended and restated as an Amend- ed and Restated Urban Renewal Plan, pur- suant to Resolution No. 108-07 approved on February 20th, 2007, to provide for, among other things, the fur - ther expansion of the Greater Downtown Ur- ban :Renewal District to Include additional areas described as the Ice Harbor Subarea C; and WHEREAS, consistent with the foregoing amendment, Ordinance No35 -04 was amended by Ordinance No. 20 -07 to provide for the divi- sion of taxes within Ice Harbor Subarea C of the Greater Downtown Urban Renewal Dis- trict and WHEREAS, the Urban Renewal Plan ,,for the Greater Downtown Ur- ban Renewal District , was further amended and restated as Ian Amended and Restated Urban Renewal Plan, pursuant to Resolution No 597 -07 approved on December 17, 2007, for the purpose of expand- ing the Greater Down- town Urbah Renewal District to include addi- tional areas described as. the Warehouse Subarea,and.the South Main Subarea, and WHEREAS, consistent with the foregoing amendment, Ordinance No. 20 -07 was amend- ed, by -Ordinance No. 63707 to provide-for the division of taxes within the Warehouse Subarea and the South Main Subarea of the Greater Downtown Ur- ban Renewal District; and WHEREAS, the Urban Renewal Plan for the Greater Downtown Ur- ban Reoewal District was further amended and restated as an Amended and Restated Urban Renewal Plan, pursuant to Resolution No. 300 -08 approved on September 2, 2008, for the purpose of expand': STATE OF IOWA {SS: DUBUQUE COUNTY CERTIFICATION OF PUBLICATION I, Suzanne Pike, a Billing Clerk for Woodward Communications, Inc., an Iowa corporation, publisher of the Telegraph Herald,a newspaper of general circulation published in the City of Dubuque, County of Dubuque and State of Iowa; hereby certify that the attached notice was published in said newspaper on the following dates: June 10, 2011, and for which the charge is $625.11. ,$) Subscribed to before me Notary Public in and for Dubuque County, Iowa, this Mg day of , 20 // Notary Public in and for Dubuque County, Iowa. MARY K, Comml elon Number 1640 1 ,,. RECORDERS COVER SHEET ORDINANCE NO. 33-11 Doc ID: 007061790024 Type: GEN Kind: ORDINANCE Recorded: 06/08/2011 at 04:15:26 PM Fee Amt: $124.00 Page 1 of 24 Dubuque County Iowa Kathy Flynn Thurlow Recorder File • 11 lk Preparer Information: Aaron DeJong, Assist. Economic Development Director, City Hall, 50 West 13 Street, Dubuque, Iowa 52001, Phone: 563-589-4393. Return Document to: Kevin Firnstahl, Acting City Clerk, City Hall, 50 West 13 Street, Dubuque, Iowa 52001, Phone: 563-589-4121 Legal Description: See page 1 of ordinance. ORDINANCE NO. 33-11 AN ORDINANCE AMENDING ORDINANCE NOS. 51 -10, 64 -97 and 43 -94, EACH AS PREVIOUSLY AMENDED, PROVIDING THAT GENERAL PROPERTY TAXES LEVIED AND COLLECTED EACH YEAR ON ALL PROPERTY LOCATED WITHIN THE GREATER DOWNTOWN URBAN RENEWAL DISTRICT OF THE CITY OF DUBUQUE, COUNTY OF DUBUQUE, STATE OF IOWA, BY AND FOR THE BENEFIT OF THE STATE OF IOWA, CITY OF DUBUQUE, COUNTY OF DUBUQUE, DUBUQUE COMMUNITY SCHOOL DISTRICT, AND OTHER TAXING DISTRICTS, BE PAID TO A SPECIAL FUND FOR PAYMENT OF PRINCIPAL AND INTEREST ON LOANS, MONIES ADVANCED TO AND INDEBTEDNESS, INCLUDING BONDS ISSUED OR TO BE ISSUED, INCURRED BY SAID CITY IN CONNECTION WITH THE AMENDED AND RESTATED URBAN RENEWAL PLAN FOR THE GREATER DOWNTOWN URBAN RENEWAL DISTRICT WHEREAS, the City Council of the City of Dubuque, Iowa (the "City ") has heretofore, in Ordinance No. 30 -82, provided for the division of taxes within the original Downtown Dubuque Urban Renewal Project, Iowa R -15, described in Resolution No. 123 -67 adopted on May 18, 1967, pursuant to Section 403.19 of the Code of Iowa; and WHEREAS, the original Downtown Dubuque Urban Renewal Project, Iowa R -15, subsequently was amended by Resolution No. 79 -71 approved on March 15, 1971, by Resolution No. 73 -74 approved on March 11, 1974, by Resolution No. 107 -82 approved on May 3, 1982, by Resolution No. 191 -84 approved on June 25, 1984, by Resolution No. 371 -93 approved on December 6, 1993, by Resolution No. 145 -94 approved on May 2, 1994, by Resolution No. 479 -97 approved on November 17, 1997, by Resolution No. 476 -98 approved on October 19, 1998 and by Resolution No. 187 -02 approved on April 1, 2002, which amendments; among other things, added areas referred to as the Old Main Subarea, Town Clock Expansion Subarea and Upper Main Subarea to the area of the Downtown Dubuque Urban Renewal District; and WHEREAS, consistent with the foregoing amendments, Ordinance No. 30 -82 subsequently was amended by Ordinance Nos. 23 -94, 36 -94, 67 -97, and 26 -02 to provide for the division of taxes within the several subareas of the amended Downtown Dubuque Urban Renewal District; and WHEREAS, the City Council of the City has heretofore, in Ordinance No. 66 -89, provided for the division of taxes within the original Ice Harbor Urban Renewal District, described in Resolution No. 403 -89 adopted on December 18, 1989, pursuant to Section 403.19 of the Code of Iowa; and WHEREAS, the original Ice Harbor Urban Renewal District subsequently was amended by Resolution No. 241 -00 approved on June 5, 2000 and by Resolution 114- 02 approved on March 4, 2002, which amendments, among other things, added an additional area referred to as Subarea B to the area of the Ice Harbor Urban Renewal District; and WHEREAS, consistent with the foregoing amendment, Ordinance No. 66 -89 subsequently was amended by Ordinance No. 97 -00 to provide for the division of taxes within the two subareas of the amended Ice Harbor Urban Renewal District; and WHEREAS, the original Downtown Dubuque Urban Renewal District and the original Ice Harbor Urban Renewal District and their respective Subareas were combined into a single urban renewal area, under the terms of an Urban Renewal Plan for the Greater Downtown Urban Renewal District, pursuant to Resolution No. 170 -04 adopted on April 19, 2004; and WHEREAS, consistent with foregoing amendment, Ordinance Nos. 30 -82 and 66 -89 were amended by Ordinance No. 35 -04 to provide for the division of taxes within the various sub -areas of the Greater Downtown Urban Renewal District; and WHEREAS, the Urban Renewal Plan for the Greater Downtown Urban Renewal District was amended and restated as an Amended and Restated Urban Renewal Plan, pursuant to Resolution No. 108 -07 approved on February 20th, 2007, to provide for, among other things, the further expansion of the Greater Downtown Urban Renewal District to include additional areas described as the Ice Harbor Subarea C; and WHEREAS, consistent with the foregoing amendment, Ordinance No.35 -04 was amended by Ordinance No. 20 -07 to provide for the division of taxes within Ice Harbor Subarea C of the Greater Downtown Urban Renewal District; and WHEREAS, the Urban Renewal Plan for the Greater Downtown Urban Renewal District was further amended and restated as an Amended and Restated Urban Renewal Plan, pursuant to Resolution No. 597 -07 approved on December 17, 2007, for the purpose of expanding the Greater Downtown Urban Renewal District to include additional areas described as the Warehouse Subarea and the South Main Subarea, and WHEREAS, consistent with the foregoing amendment, Ordinance No. 20 -07 was amended by Ordinance No. 63 -07 to provide for the division of taxes within the -2- Warehouse Subarea and the South Main Subarea of the Greater Downtown Urban Renewal District; and WHEREAS, the Urban Renewal Plan for the Greater Downtown Urban Renewal District was further amended and restated as an Amended and Restated Urban Renewal Plan, pursuant to Resolution No. 300 -08 approved on September 2, 2008, for the purpose of expanding the Greater Downtown Urban Renewal District to include additional areas described as the South Port Subarea; and WHEREAS, consistent with the foregoing amendment, Ordinance No. 63 -07 was amended by Ordinance No. 60 -08 to provide for the division of taxes within the South Port Subarea of the Greater Downtown Urban Renewal District; and WHEREAS, the Urban Renewal Plan for the Greater Downtown Urban Renewal District was further amended and restated as an Amended and Restated Urban Renewal Plan, pursuant to Resolution No. 393 -09 approved on October 5, 2009, for the purpose of expanding the Greater Downtown Urban Renewal District to include additional areas described as the Cable Car Subarea; and WHEREAS, consistent with the foregoing amendment, Ordinance No. 60 -08 was amended by Ordinance No. 58 -09 to provide for the division of taxes within the Cable Car Subarea of the Greater Downtown Urban Renewal District; and WHEREAS, the Urban Renewal Plan for the Greater Downtown Urban Renewal District was further amended and restated as an Amended and Restated Urban Renewal Plan, pursuant to Resolution No. 269 -10 approved on July 19, 2010, for the purpose of expanding the Greater Downtown Urban Renewal District to include additional areas described as the Bluff Street Subarea, and WHEREAS, consistent with the foregoing amendment, Ordinance No. 58 -09 was amended by Ordinance No. 51 -10 to provide for the division of taxes within the Bluff Street Subarea of the Greater Downtown Urban Renewal District; and WHEREAS, the Urban Renewal Plan for the Greater Downtown Urban Renewal District was further amended and restated as an Amended and Restated Urban Renewal Plan, pursuant to Resolution No. 86 -11 approved on March 7, 2011, for the purpose of expanding the Greater Downtown Urban Renewal District to include additional areas described as the South Bluff Street Subarea, and WHEREAS, the Greater Downtown Urban Renewal District, as so amended, subsequently was combined with the East 7 Street Economic Development District, and the Kerper Boulevard Industrial Park Economic Development District to form a single urban renewal area governed by the terms of an Amended and Restated Urban Renewal Plan for the Greater Downtown Urban Renewal District, under which additional subareas described as the Kerper Boulevard Subarea, Washington Neighborhood -3- Subarea, Industrial Harbor Subarea, East 7 Street Subarea, and Chaplain Schmitt Subarea were established as part of the Greater Downtown Urban Renewal District, all pursuant to Resolution No. 155 -11 adopted on May 2, 2011; and WHEREAS, Ordinance No. 64 -97 has heretofore provided for the division of taxes within East 7 Street Economic Development District; and WHEREAS, Ordinance No. 43 -94 has heretofore provided for the division of taxes within Kerper Boulevard Industrial Park Economic Development District; and WHEREAS, indebtedness has been incurred by the City, and additional indebtedness is anticipated to be incurred in the future, to finance urban renewal project activities within the combined area known as the Greater Downtown Urban Renewal District (the "Greater Downtown Urban Renewal District "), and the continuing needs of redevelopment within the Greater Downtown Urban Renewal District are such as to require the continued application of the incremental tax resources of the Greater Downtown Urban Renewal District; and WHEREAS, the following enactment is necessary to accomplish the objectives described in the premises. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF DUBUQUE, IOWA, THAT: Ordinance Nos. 51 -10, 64 -97, and 43 -94 (amending Ordinance 58 -09, Ordinance 60 -08, Ordinance 63 -07, amending Ordinance No. 20 -07, amending Ordinance No. 35- 04, amending Ordinance No. 30 -82, as amended by Ordinance Nos. 23 -94, 36 -94, 67- 97, and 26 -02, and Ordinance No. 66 -89, as amended by Ordinance No. 97 -00) are hereby combined and amended to read as follows: Section 1: For purposes of this Ordinance, the following terms shall have the following meanings: (a) Original Town Clock Subarea shall mean that portion of the Amended Project Area initially described in the Urban Renewal Plan for the Downtown Dubuque Urban Renewal Project, Iowa R -15, approved by Resolution No. 123 -67 on May 18, 1967, as amended by the Amended and Restated Urban Renewal Plan for the Greater Downtown Urban Renewal District approved by Resolution No. 108 -07 on February 20th, 2007, which Original Town Clock Subarea includes the Tots and parcels located within the area now legally described as follows: Beginning at the intersection of the north right -of -way line of Ninth Street with the east right -of -way line of Central Avenue; thence south along the east right -of -way line of Central Avenue to its intersection with the south right -of -way line of Fourth Street; thence west along the south right -of -way line of Fourth Street to its -4- intersection with the west right -of -way line of Locust Street; thence north along the west right -of -way line of Locust Street to its intersection with the north right - of -way line of Ninth Street, but also including the adjacent City Lots 623 and 624 (Dubuque Museum of Art), the Locust Street Parking Ramp between 8th and 9th Streets and the former U.S. Federal Building located on City Lots 101, 102, 139, 140, and the N 54.5' of City Lots 103 & 138, and the vacated alley between said Tots; thence east along the north right -of -way line of Ninth Street to its intersection with the east right -of -way line of Central Avenue, but also including the adjacent Iowa Inn property and the public parking lot known as Parking Lot Number 1 located between 9th and 10th Streets east of Iowa Street, to the point of beginning. (b) Old Main Subarea shall mean that portion of the Amended Project Area initially described in the Amended and Restated Urban Renewal Plan for the Downtown Dubuque Urban Renewal District approved by Resolution No. 145 -94 on May 2, 1994, which Old Main Subarea includes the lots and parcels located within the area legally described as follows: Beginning at the intersection of the south right -of -way line of Fourth Street with the east right -of -way line of Central Avenue; thence west along the south right -of- way line of Fourth Street to the west right -of -way line of Locust Street; thence south along the west right -of -way line of Locust Street to the north right -of -way line of the Locust Street Connector; thence east along the north right -of -way line of the Locust Street Connector to the west right -of -way line of Highways 151/61; thence north along the west right -of -line of Highways 151/61 to the point of beginning. (c) Town Clock Expansion Subarea shall mean that portion of the Amended Project Area initially described in the Amended and Restated Urban Renewal Plan for the Downtown Dubuque Urban Renewal District approved by Resolution No. 479 -97 on November 17, 1997, which Town Clock Expansion Subarea includes the Tots and parcels located within the area legally described as follows: South 1/2 of City Lot 167, City Lot 168 and City Lot 168A; Lots 1 & 2 of City Lots 204, 205, 206, 207 and 208, N. 23' of City Lot 263, S. 28.5' of City Lot 263, N. 1/2 of City Lot 262, S. 1/2 of City Lot 262, N. 1/2 of City Lot 261, all in Section 24, Township 89 North, Range 2 East, 5th P.M., Dubuque County, Iowa and any adjoining public right -of -way. (d) Upper Main Subarea shall mean that portion of the Amended Project Area initially described in the Amended and Restated Urban Renewal Plan for the Downtown Dubuque Urban Renewal District approved by Resolution No. 187 -02 on April 1, 2002, as amended by the Amended and Restated Urban Renewal Plan for the Greater Downtown Urban Renewal District approved by Resolution No. 108 -07 on February -5- 20th, 2007, which Upper Main Subarea includes the lots and parcels located within the area legally described as follows: On the North by Fourteenth Street, on the West by Locust Street but also including adjacent City Lots 660, 659, 658A and 658 except the south 1' of City Lot 658 (Carnegie -Stout Public Library), on the South by the Town Clock Expansion Subarea and on the East by Central Avenue, including all public rights -of -way. (e) Ice Harbor Subarea A shall mean that portion of the Amended Project Area initially described in the Urban Renewal Plan for the Ice Harbor Urban Renewal District approved by Resolution No. 403 -89 on December 18, 1989, which Ice Harbor Subarea A includes the lots and parcels located within the area legally described as follows: that area generally bounded on the north by the public alley located between the vacated Fourth Street and Third Street, on the west by the Chicago, Central and Pacific Railroad right -of -way, on the south by East First Street and on the east by the municipal limits of the City of Dubuque, Iowa and including any adjoining public right -of -way. (f) Ice Harbor Subarea B shall mean that portion of the Amended Project Area initially described in the Amended and Restated Urban Renewal Plan for the Ice Harbor Urban Renewal District approved by Resolution No. 241 -00 on June 5, 2000, which Ice Harbor Subarea B includes the lots and parcels located within the area legally described as follows: that area generally bounded on the north and west by the Chicago, Central and Pacific Railroad right -of -way, on the south by the northerly boundary of the Ice Harbor Subarea A and on the east by the municipal limits of the City of Dubuque, Iowa (excluding Lot 1 Adams Co.'s 2nd Addition) and including any adjoining public right -of -way. (g) Ice Harbor Subarea C shall mean a portion of the Amended Project Area added by the Amended and Restated Urban Renewal Plan for the Greater Downtown Urban Renewal District approved by Resolution No. 108 -07 on February 20th, 2007, consisting of Lot 1 Adams Co.'s 2nd Addition and any adjoining public right -of -way. (h) Warehouse Subarea shall mean a portion of the Amended Project Area added by the Amended and Restated Urban Renewal Plan for the Greater Downtown Urban Renewal District approved by Resolution No. 597 -07 on December 17, 2007, which Warehouse Subarea includes the lots and parcels located within the area legally described as follows: -6- Commencing as a point of reference at the intersection of the centerlines of 11th Street and Central Avenue in the City of Dubuque, Dubuque County, Iowa, said point being the point of beginning; thence northeasterly along the centerline of 11th Street to a point of intersection with the centerline of White Street; thence northwesterly along the centerline of White Street to a point of intersection with the centerline of 12th Street; thence northeasterly along the centerline of 12th Street and extension thereof to a point of intersection with the centerline of US Highways 151 and 61; thence southwesterly along the centerline of US Highways 151 and 61 to a point of intersection with the centerline of 4th Street extended; thence southwesterly along the centerline of 4th Street and extension thereof to a point of intersection with the centerline of Central Avenue; thence northwesterly along the centerline of Central Avenue to a point of intersection with the centerline of 9th Street; thence southwesterly along the centerline of 9th Street to a point of intersection with the westerly line of City Lot 259 extended southerly; thence northwesterly along the westerly line of City Lot 259, and Lots 1 and 2 of the Subdivision of the South 1/2 of City Lot 261 and City Lot 260 to the southwest corner of the N 1 /2 of City Lot 261; thence northeasterly along the southerly line of the N % of City Lot 261 and extension thereof to a point of intersection with the centerline of Central Avenue; thence northwesterly along the centerline of Central Avenue to a point of intersection of 11th Street also being point of beginning; and including any adjoining public right -of -way. (i) South Main Subarea shall mean a portion of the Amended Project Area added by the Amended and Restated Urban Renewal Plan for the Greater Downtown Urban Renewal District approved by Resolution No. 597 -07 on December 17, 2007, which South Main Subarea includes the lots and parcels located within the area legally described as follows: Commencing as a point of reference at a point of intersection of the centerline of Locust Street with the Locust Street Connector in the City of Dubuque, Dubuque County, Iowa, said point being the point of beginning; thence northeasterly along the centerline of the Locust Street Connector to a point of intersection with the centerline of US Highways 52, 61, and 151; thence southeasterly along the centerline of US Highways 52, 61, and 151 to a point of intersection with the centerline of the eastern section of Jones Street extended southwesterly; thence southwesterly along said extension of the centerline of the eastern section of Jones Street to a point of intersection with the centerline of Main Street; thence northwesterly along the centerline of Main Street to a point of intersection with the centerline of Jones Street; thence northwesterly along the centerline of Jones Street to a point of intersection with the easterly line of Lot 2D of vacated Shields Street extended northerly; thence southeasterly along the easterly line of Lot 2D of vacated Shields Street to the southeasterly corner of said Lot 2D; thence southwesterly along the southerly lines of Lot A and Lot 2D of vacated Shields Street and Lot 1 of 2 of City Lot 543 extended westerly to a point of intersection with the centerline of Locust Street; thence northeasterly along the centerline of -7- Locust Street to a point of intersection with the centerline of the Second Street Connector, also being the point of beginning; and including any adjoining public right -of -way. (j) South Port Subarea shall mean a portion of the Amended Project Area added by the Amended and Restated Urban Renewal Plan for the Greater Downtown Urban Renewal District approved by Resolution No. 300 -08 on September 2, 2008, which South Port Subarea includes the lots and parcels located within the area legally described as follows: Beginning at a point of reference at the northwest corner of lot 2AA of Cooper Wagon Works Block in the City of Dubuque, Dubuque County Iowa, said pint being on the southerly right of way line of East First Street; Thence southeasterly along the southerly right of line of East First Street and extension thereof to the municipal limits of the City of Dubuque; Thence southerly along said municipal limits to a point of intersection with the southern right of way line of Railroad Ave. extended easterly; Thence southwesterly along said right of way line extension there to the southeast corner of lot A, Block 15 Dubuque Harbor Company's Addition; Thence northwesterly along the easterly line of said Lot A to the northerly right of way line of Railroad Ave., and south line of lot 1 of 5 of Block 27 Dubuque Harbor Company's Addition; Thence northwesterly along the westerly lines of lots 1 of 5, 1 of 4, 1 of 3, 1 of 2 and 1 of 1 of said Block 27 to the south line of lot 4A of said Block 17; Thence westerly to the easterly right of way line of vacated Water Street; Thence northwesterly along said easterly line to the southwesterly corner of lot 2 of said Block 17; Thence westerly along the extension of the southerly line of said Lot 2 to the westerly line of Vacated Water Street; Thence southeasterly along said westerly right of way line to the southerly corner of lot 2 of Block 18 of Dubuque Harbor Company's Addition; Thence northwesterly along the westerly line of said lot 2 to a point of intersection with the southerly right of way line of vacated Charter St; Thence southwesterly along said right of way line and extension thereof the centerline of South Main Street; Thence northwesterly along said centerline to the northerly line of lot 5, Block 13 Dubuque Harbor Company's Addition extended northeasterly; Thence southwesterly along said line to the easterly line of lots 7 and 8 of said Block 13; Thence southeasterly along the easterly lines of said lots 7 & 8 and extension thereof to the centerline of Charter Street; Thence southwesterly along said centerline to the centerline of Salina Street; Thence northwesterly along said centerline to the northerly line of lot 1 of 3 of Block C of Industrial Sub. No. 1 extended northeasterly; Thence southwesterly along the northerly lines of said lot 1 of 3 and Lot 2 of said Block C extended to the westerly right of way line of Harrison St.; Thence northerly along the easterly line of the West Part of Lot 1 of 1 of 1 of 1 of P.J. Seippel Lumber Company Place; Thence westerly along the southerly lines of lots 1 of 1 of 2 of 1 and Lot 2 of 1 of 2 of 1 and extension thereof to the centerline of relocated South Locust St; Thence northerly along said centerline to the centerline of Dodge St; Thence easterly along said -8- centerline of Dodge Street to a point of intersection with the westerly line of Lot E of vacated Shields Street extended southerly; Thence northerly along said westerly line to the northwest corner of said lot E; Thence easterly along the north line of said lot E and Lot 6 Block 11 of Dubuque Harbor Company's Addition and extension thereof to the centerline of Main Street; Thence southeasterly along the centerline of Main St. to the centerline of Dodge Street; Thence easterly along the centerline of Dodge St to the intersection of Highway 61/151; Thence northwesterly along said centerline to a point of intersection with the southerly right of way line of East First Street; Thence southeasterly along said right of way line to the point of beginning. (k) Cable Car Subarea shall mean a portion of the Amended Project Area added by the Amended and Restated Urban Renewal Plan for the Greater Downtown Urban Renewal District approved by Resolution No. 393 -09 on October 5, 2009, which Cable Car Subarea includes the lots and parcels located within the area legally described as follows: Commencing as a point of reference at the intersection of the centerlines of Second Street and Locust Street in the City of Dubuque, Dubuque County, Iowa, said point being the point of beginning; Thence southeasterly along the centerline of Locust Street to a point of intersection with the centerline of First Street; Thence southwesterly along the centerline of First Street to a point of intersection with the centerline of Bluff Street; Thence northwesterly along the centerline of Bluff Street to a point of intersection with the centerline of Emmett Street; Thence southwesterly along the centerline of Emmett Street to a point of intersection with the centerline of St. Mary's Street; Thence northwesterly along the centerline of St. Mary's Street and to a point of intersection with the northerly line of Cathedral Center extended southwesterly; Thence northeasterly along the northerly line of Cathedral Center to a point of intersection with the westerly right of way line of Bluff Street; Thence northwesterly along said westerly right of way line of Bluff Street and extension thereof to a point of intersection with the centerline of Third Street; Thence southwesterly along the centerline of Third Street to a point of intersection with the westerly line of Lot 1 of the East 78 ft. of the South 100 ft. of Lot 4 of City Lot 692 extended southerly; Thence northwesterly along said westerly line to a point of intersection with the southerly line of Fenelon Point Subdivision; Thence northeasterly along said southerly line to a point of intersection with the westerly line of Lot 2 of 2 of City Lot 692;Thence northwesterly along said westerly line and westerly line of Lot 1 of 2 of City Lot 692 to a point of intersection with the southerly right of way line of W. Fourth Street; Thence northeasterly across W. Fourth Street to the southwest corner of Lot 1 of Evan's Place, said point also being on the northerly right of way line of W. Fourth Street; Thence northwesterly along the west line of said Lot 1 to the southeast corner of Lot 34 of Cooper Heights Addition; Thence continuing northwesterly along the easterly line of Lots 34, 35, 36 and 37 of Cooper Heights Addition to a point of intersection with the southerly right of way line of W. Fifth -9- Street; Thence northeasterly to a point of intersection in the centerline of W. Fifth Street approximately 270 feet southwesterly of the centerline of Bluff Street; Thence northwesterly along the centerline of W. Fifth Street to a point of intersection with the southerly line of Coriell's Dubuque also being the northerly right of way line of W. Fifth Street; Thence northeasterly along said right of way line of W. Fifth St. to the southwest corner of Lot 1 of City Lot 690;Thence northwesterly along the westerly line of said Lot 1 to the northwest corner of said Lot 1;Thence northeasterly along the northerly line of said Lot 1 to the northeast corner of said Lot 1;Thence southeasterly along the easterly line of said Lot 1 to a point of intersection with the northerly line of the south 62.5 ft. of the north 64 ft. of City lot 617;Thence northeasterly along said northerly line and extension thereof to a point of intersection with the centerline of Bluff Street; Thence southeasterly along the centerline of Bluff Street to a point of intersection with the northerly line of the south 10 ft. of City Lot 138 extended southwesterly; Thence northeasterly along said northerly line and northerly line of the south 10 ft. of the south 34.6 ft. of City Lot 103 and extension thereof to a point of intersection with the centerline of Locust Street; Thence southeasterly along the centerline of Locust Street to a point of intersection with the centerline of Second Street, said point being the point of beginning. (I) Bluff Street Subarea shall mean a portion of the Amended Project Area added by the Amended and Restated Urban Renewal Plan for the Greater Downtown Urban Renewal District approved by Resolution No. 269 -10 on July 19, 2010, which Bluff Street Subarea includes the lots and parcels located within the area legally described as follows: Commencing as a point of reference at the intersection of the centerlines of W. Sixth Street and Bluff Street in the City of Dubuque, Dubuque County, Iowa, said point being the point of beginning; thence southeasterly along the centerline of Bluff Street to a point of intersection with the northerly line of the south 62.5 ft. of the north 64 ft. of City Lot 617 extended southeasterly; thence southwesterly along said northerly line to the easterly line of Lot 1 of City Lot 690; thence northwesterly along the easterly line of said Lot 1 to the northeast corner of said Lot 1; thence southwesterly along the northerly line of said Lot 1 to the northwest corner of said Lot 1; thence southeasterly along the westerly line of said Lot 1 to a point of intersection with northerly right of way line of W. Fifth Street; thence southwesterly along said right of way line of W. Fifth St. to the southeast corner of the South 73' of Lot 13 of Coriell's Dubuque; thence northwesterly 73' along the easterly line of said South 73' of Lot 13 of Coriell's Dubuque to the northeast corner of the South 73' of Lot 13 of Coriell's Dubuque; thence southwesterly along the northerly line of said South 73' of Lot 13 of Coriell's Dubuque to a point of intersection with westerly line of Lot 13 of Coriell's Dubuque; thence northwesterly along said westerly line of Lot 13 to a point of intersection with the southerly line of Lot 33 of Coriell's Dubuque; thence northeasterly along said southerly line of Lot 33 to a point of intersection with the westerly line of Lot 14 of -10- Coriell's Dubuque' thence northwesterly along said westerly line of said Lot 14 to a point of intersection with the southerly line of Lot 34 of Coriell's Dubuque; thence northeasterly along said southerly line of Lot 34 to the easterly line of Coriell's Dubuque; thence northwesterly along said easterly line Lots 34, 35, 36, 37, 38, and 44 of Coriell's Dubuque to the northwest corner of the North 50' of Lot 1 of Lot 1 of City Lot 653; thence northeasterly along the northerly line of said North 50' of Lot 1 of Lot 1 of City Lot 653 to the southeast corner of Lot 1 of McKinlay's Subdivision; thence northwesterly along said easterly line of said Lot 1 and extension thereof to a point of intersection with the centerline of West Eighth Street; thence northwesterly along said centerline of West Eighth Street to a point of intersection with the westerly line of Lot 1 of the Subd'n. of City Lot 688 and part of City Lot 654 extended southerly; thence northwesterly along said westerly line of Lot 1 and extension thereof northerly to a point of intersection with the centerline of West Ninth Street; thence southwesterly along the centerline of West Ninth Street to a point of intersection with the southerly extension of the westerly line of Lot 2 of Lot 12 of Central Addition; thence northwesterly along said westerly right of Lot 2 of Lot 12 to the northwest corner of said Lot; thence northeasterly along the northerly line of said Lot 2 of Lot 12 to the northeast corner of said Lot; thence southeasterly along said easterly line of said Lot 2 of Lot 12 to the southwest corner of Lot 1 of Lot 11 of Central Addition; thence northeasterly along the southerly line of Lot 1 of Lot 11 and Lot 1 of Lot 10 of Central Addition to a point of intersection with the westerly line of Lot 1 of Lot 9 of Central Addition; thence northwesterly along said westerly line of Lot 1 of Lot 9 to a point of intersection with the southerly right of way line of a public alley in Central Addition; thence northeasterly along said southerly line to a point of intersection with the westerly line of Lot 1 of 1 of 10 of Lorimer's Subdivision; thence northwesterly along said westerly line of said Lot 1 of 1 of 10 to the northerly line of Lorimer's Subdivision; thence northeasterly along the northerly line of Lorimer's Subdivision to the southeast corner of a public alley between Corkery's Subdivision and City Lot 655; thence northwesterly along the easterly right of way line of said alley to a point of intersection with West Eleventh Street; thence southwesterly along centerline of West Eleventh Street to a point of intersection with the centerline of Grove Terrace; thence northwesterly along centerline of Grove Terrace to a point of intersection with the northerly right of way line of Arlington Street; thence northeasterly along the northerly right of way line of Arlington Street to the southeast corner of City Lot 769B; thence northwesterly along the easterly line of said City Lot 769B to a point of intersection with the southerly line of Lot 3 of Brown's Subdivision; thence southwesterly along the southerly line of said Lot 3 to the southwest corner of said lot; thence northwesterly along the westerly line of said Lot 3 and extension thereof to a point of intersection with the centerline of Loras Boulevard; thence northeasterly along said centerline to a point of intersection with the centerline of Locust Street; thence southeasterly along the centerline of Locust Street to a point of intersection with the centerline of W. Eleventh Street; thence southwesterly along the centerline of W. Eleventh Street to a point of intersection with the centerline of Bluff Street; thence southeasterly along the centerline of Bluff Street to a point of intersection with the extension of the southerly line of City Lot 658A; thence northeasterly along the southerly line of City Lot 658A extended and the southerly line of City Lot 658, except the southerly one foot thereof, extended to a point of intersection with the centerline of Locust Street; thence southeasterly along the centerline of Locust Street to a point of intersection with the centerline of West Ninth Street; thence southwesterly along the centerline of West Ninth Street to a point of intersection with the centerline of Bluff Street; thence southeasterly along the centerline of Bluff Street to a point of intersection with the centerline of West Eighth Street; thence northeasterly along the centerline of West Eighth Street to a point of intersection with the centerline of Locust Street; thence southeasterly along the centerline of Locust Street to a point of intersection with the northerly line of City Lot 624 extended northeasterly; thence southwesterly along the northerly line of City Lot 624 extended southeasterly to the centerline of a public alley; thence southeasterly along the centerline of a public alley to a point of intersection with the centerline of W. Seventh Street; thence northeasterly along the centerline of W. Seventh Street to a point of intersection with Locust Street; thence southeasterly along the centerline of Locust Street to a point of intersection with West Sixth Street; thence southwesterly along the centerline of West Sixth Street to a point of intersection with Bluff Street said point being the point of beginning. (m) South Bluff Street Subarea shall mean that portion of the Amended Project Area added by the Amended and Restated Urban Renewal Plan for the Greater Downtown Urban Renewal District approved by Resolution No. 86 -11 on March 7, 2011, which South Bluff Street Subarea includes the Tots and parcels located within the area legally described as follows: Commencing as a point of reference at the intersection of the centerlines of Emmett Street and Bluff Street in the City of Dubuque, Dubuque County, Iowa, said point being the point of beginning; thence southeasterly along the centerline of Bluff Street to a point of intersection with the centerline W. First Street; thence southwesterly along the centerline W. First Street to the centerline of Bluff Street; thence southwesterly along the centerline of Bluff Street to a point of intersection with the centerline Dodge Street; thence southwesterly along the centerline Dodge Street to a point of intersection with the easterly line of Lot 3 of City Lot 694 extended southeasterly; thence northwesterly along the easterly line of said Lot 3 of City Lot 694 and Lot 1 -1 and 2 -1 of City Lot 694 to the southwest corner of Lot 1 -2 of City Lot 694; thence northeasterly along said southerly line of said Lot 1 -2 of City Lot 694 to the southeast corner of said Lot; thence northwesterly along said easterly line of Lot 1 -2 of City Lot 694 to a point of intersection with the southerly line of Lot 12 of Saint Raphael's Addition; thence northeasterly along said southerly line of said Lot 12 and extension thereof to the centerline of St. Mary's Street; thence northwesterly along the centerline of St. Mary's Street to a point of intersection with the centerline of Emmett St.; thence northeasterly -12- along the centerline of Emmett St. to centerline of Bluff Street, said point being point of beginning. (n) Kerper Boulevard Subarea shall mean that portion of the Amended Project Area initially described in the Amended and Restated Urban Renewal Plan for the Greater Downtown Urban Renewal District approved by Resolution No. 155 -11 on May 2, 2011, which Kerper Boulevard Subarea includes the lots and parcels located within the area legally described as follows: Lot 1 -2, Lot 2 -2, Lot 2A, Lot 3 and Lot 6 all in Kerper Industrial Park in the City of Dubuque, Dubuque County, Iowa, also including the entire right of way of Kerper Court and the westerly portion of Kerper Boulevard right of way from the abutting Kerper Court right of way and Lot 3 of Kerper Industrial Park to the centerline of Kerper Boulevard. (o) Washington Neighborhood Subarea shall mean that portion of the Amended Project Area added by the Amended and Restated Urban Renewal Plan for the Greater Downtown Urban Renewal District approved by Resolution No. 155 -11 on May 2, 2011, which Washington Neighborhood Subarea includes the lots and parcels located within the area legally described as follows: Commencing as a point of reference at the intersection of the centerlines of Central Avenue and Loras Boulevard in the City of Dubuque, Dubuque County, Iowa, said point being the point of beginning; Thence southwesterly along the centerline of Loras Boulevard to a point of intersection with the westerly line of Lot 3 of Brown's Subdivision extended northerly; Thence northerly to the southwest corner of Lot 2 -3 of City Lot 667; Thence northwesterly along the westerly line of said Lot 2 -3; Thence northeasterly along the northerly line of said Lot 2 -3 to a point of intersection with the southeasterly line of Lot 1 -3 of City Lot 667; Thence northeasterly along the said southeasterly line to the northeast corner of said Lot 1 -3; Thence southwesterly along the northerly line of said Lot 1 -3 to a appoint of intersection with the easterly right of way line of Montrose Terrace; Thence northwesterly along said the easterly right of way line to a point of intersection with the easterly right of way line of a public alley between D. N. Cooley's Subdivision and Fairview Subdivision; Thence continuing northwesterly along said the easterly alley line to a point of intersection with the southerly right of way line of W. 17 Street; Thence northwesterly crossing W. 17 St. to the most easterly corner of Lot 2 -1 -1 -2 of City Lot 670, said point being at the point of intersection of the north right of way of W. 17 St. and westerly right of way line of W. Locust St.; Thence southwesterly along the north right of way of W. 17 St. to southeast corner of Lot 1 -2 -2 of City Lot 670; Thence northwesterly along the easterly lines of Lot 1 -2 -2 and Lot 2 -2 -2 of City Lot 670 to a point of intersection with the southerly right of way line of Clark St.; Thence northwesterly crossing Clark St. to the southeasterly corner of Welsh Place; Thence northwesterly along -13- the easterly line of said Welsh Place to the northeast corner thereof; Thence southwesterly along the northerly line of said Welsh Place to a point of intersection with the easterly right of way line of a public alley along the westerly side of A. L. Bowen's Subdivision; Thence northwesterly along said easterly right of way line to a point of intersection with the southerly right of way line of Angella Street; Thence southwesterly along said southerly right of way line to the northeast corner of Lot 12 of Gilliam's Subdivision; Thence northwesterly crossing Angella St. to the most southerly corner of Lot 1 of Gilliam's Subdivision said point being on the northerly right of way line of Angella St.; Thence northwesterly along the westerly line of said Lot 1 to a point of intersection with the southerly line of Lot 2 of Alvin Haas Place; Thence southwesterly along the southerly line of Lot 1 and Lot 2 of Alvin Haas Place and the southerly line of the Westerly 40 feet of Lot 3 of Quigley's Subdivision of Out Lot 710 to the most easterly corner of Lot 24 of Quigley's Subdivision of Out Lot 710; Thence westerly along the southerly boundary of Lots 4 through Lots 15 of Quigley's Subdivision Out Lot 710 and the southerly line of Lots 9A, 10 and 11 of Quigley's Subdivision Out Lot 711 to a point of intersection with the easterly right of way line of Pierce Street; Thence northerly along said easterly right of way line and extension thereof to a point of intersection with the northerly right of way line of W. Locust Street; Thence easterly along said northerly right of way line to the easterly right of way line of Foye Street; Thence northerly along said easterly right of way line to a point of intersection with the southerly right of way line of a public alley lying between Almond and W. Locust Sts.; Thence easterly along said southerly right of way line to a point of intersection with the westerly right of way line of Ellis Street; Thence southeasterly along said westerly right of way line to a point of intersection with the northerly right of way line of W. Locust Street; Thence southeasterly crossing Ellis St. to a point of intersection with the easterly right of way line of Ellis St. at the southerly right of way line of Dorgan Place; Thence easterly along said southerly right of way line of Dorgan Place to the northeast corner of Lot 1 -14 of Dorgan's Subdivision; Thence easterly crossing Dorgan Place to the southwest corner of Lot 5 -2 of City Lot 673; Thence northerly along the westerly line of said Lot 5 -2 to the northwest corner thereof; Thence easterly along the northerly line of said Lot 5 -2 to a point of intersection with the westerly right of way line of Madison Street; Thence easterly crossing Madison St. to the most westerly corner of Lot A -2 -1 of City Lot 674, said point being on the easterly right of way line of Madison St. Thence easterly along the northerly line of said Lot A -2 -1 to a point of intersection with the easterly right of way line of Main Street; Thence northerly along said easterly right of way line to the northwest corner of Lot 2 -1 of City Lot 674; Thence easterly and continuing northeasterly along the northerly lines of Lot 2 -1, Lot 2 -2, Lot 2 -1 -3, Lot 1 -2 -3 all of the subdivision of City Lot 674 to a point of intersection with the westerly line of Lot 4 of City Lot 674; Thence northwesterly along said westerly line to a point of intersection with the southerly line of Lot 1 -1 -2 of Duncan's Subdivision; Thence northeasterly along said southerly line and southerly line of Lot 1 and Lot 2 of M. A. Rebman's Subdivision and extension thereof to a point of intersection with the -14- easterly right of way line of Heeb Street; Thence northwesterly along said easterly right of way line to a point of intersection with the northerly right of way line of Clarke Drive; Thence northwesterly along said northerly right of way line to a point of intersection with the easterly right of way line of Heeb Street Tying between Central Avenue and Shelby Street; Thence northwesterly along said easterly right of way line to a point of intersection with the southerly right of way line of Kaufmann Avenue; Thence easterly along said southerly right of way line to a point of intersection with the southerly extension of the easterly right of way line of a public alley Tying between Central Ave. and Francis Street; Thence northwesterly along said easterly right of way line to a point of intersection with the southerly right of way line of W. 23 Street; Thence southwesterly along said southerly right of way line to the northwest corner of the East One -Half of Lot 11 of Tivoli Addition; Thence northwesterly crossing W. 23 St. to the southwesterly corner of Lot 1 of Valeria Place No. 2; Thence northwesterly along the westerly line of said Lot 1 to a point of intersection with the southerly line of Lot 2 of said Valeria Sub. No. 2; Thence southwesterly along the southerly line of said Lot 2 to the southwest corner thereof; Thence northwesterly along the westerly line of said Lot 2 to a point of intersection with the southerly line of Lot 2 -1 of Valeria Place; Thence northeasterly along said southerly line to the southeasterly corner of said Lot 2 -1; Thence northwesterly along the easterly line of said Lot 2 -1 the northeast corner thereof, said point also being the southeasterly right of way line of Carr St.; Thence northwesterly along the easterly right of way line of Carr St. to a point of intersection with the southerly right of way line of W. 24 Street; Thence northeasterly along said southerly right of way line to a point of intersection with the southerly extension of the easterly right of way line of Division Street; Thence northwesterly along said easterly right of way line to the northwest corner of Lot 8 of Wullweber's Subdivision; Thence southwesterly along the southerly line of John King's Subdivision to the southwest corner of the West 33.98 feet of Lot 1 -6 of John King's Subdivision; Thence northwesterly along the westerly line of the West 33.98 feet of Lot 1 -6 of John King's Subdivision to the northwest corner thereof; Thence northeasterly along the northerly line of said West 33.98 feet to the southwest corner of Lot 1 of the East 329.98 feet of Lot 8 of John King's Subdivision; Thence northwesterly along the westerly line of said Lot 1 to a point of intersection with the southerly line of the NE1 /4 of said Lot 8; Thence southwesterly along said southerly line to the southwest corner of said NE1 /4 of Lot 8; Thence northwesterly along the westerly lines of the NE1 /4 of Lot 8, the SE1 /4 of Lot 10, the NE1 /4 Lot 10 and the E1/2 of Lot 12 all in John King's Subdivision to the northwest corner of said E1/2 of Lot 12; Thence northeasterly along the northerly line of said E1/2 of Lot 12 to the southwest corner of Lot 1 -1 -1 of the E1/2 of Lot 14 in John King's Subdivision; Thence northwesterly along the westerly lines of Lot 1 -1 -1 of the E1/2 of Lot 14 John King's Subdivision to the northwest corner thereof; Thence northeasterly along the northerly line of said Lot 1 -1 -1 to a point of intersection with the westerly right of way line of Central Avenue; Thence northeasterly crossing Central Avenue to a point of intersection of the easterly right of way line of -15- Central Avenue and the northerly right of way line of E. 25th Street; Thence northeasterly along said northerly right of way line and extension thereof to a point of intersection with the easterly right of way line of EIm Street; Thence southeasterly along said easterly right of way line to a point of intersection with the northerly right of way line of E. 24 Street; Thence northeasterly along said northerly right of way line and extension thereof to a point of intersection with the easterly right of way line of Windsor Avenue; Thence southeasterly along said easterly right of way line to a point of intersection with the northerly right of way line of E. 22nd Street; Thence northeasterly along said northerly right of way line to a point of intersection with the westerly right of way line of Stafford Street; Thence northeasterly crossing Stafford Street to a point of intersection of the easterly right of way line of Stafford Street and the northerly right of way line of Thomas Place; Thence southeasterly along said easterly right of way line of Stafford Street and extension thereof to a point of intersection with the southerly right of way line of Garfield Avenue; Thence southwesterly along said southerly right of way line to a point of intersection with the centerline of Stafford Street extended southeasterly; Thence southeasterly along the centerline of Stafford Street extended to a point of intersection with the northwesterly line of Lot 2 -2 of Kerper Industrial Park; Thence southwesterly along said northwesterly line of Lot 1 -2 of Kerper Industrial Park to the northernmost point of Lot 1 of Kerper Industrial Park; Thence southwesterly along the westerly line of said Lot 1 to a point of intersection with the northerly right of way line of E. 16th Street; Thence southwesterly along said northerly right of way line to the easterly right of way line of Pine Street; Thence southeasterly crossing E. 16th Street along said easterly right of way of Pine St. extended to a point of intersection with the southerly right of way line of E. 16th St.; Thence southwesterly along said southerly right of way line to a point of intersection with the easterly right of way line of EIm Street; Thence southeasterly along said easterly right of way line to a point of intersection with the northerly right of way line of E. 15th Street; Thence southwesterly along said northerly right of way line to a point of intersection with the westerly right of way line of EIm Street; Thence southeasterly along said westerly right of way of Elm Street and extension thereof to a point of intersection with the centerline of E. 12th Street; Thence southwesterly along the said centerline of E. 12th Street to a point of intersection with the centerline of White Street; Thence southeasterly along said centerline of White Street to a point of interjection with the centerline of E. 11th Street; Thence southwesterly along said centerline of E. 11th Street to a point of intersection with the centerline of Central Avenue; Thence northwesterly along said centerline of Central Avenue to a point of intersection with the centerline of Loras Boulevard, said point being the point of beginning. (p) Industrial Harbor Subarea shall mean that portion of the Amended Project Area added by the Amended and Restated Urban Renewal Plan for the Greater Downtown Urban Renewal District approved by Resolution No. 155 -11 on May 2, 2011, -16- which Industrial Harbor Subarea includes the lots and parcels located within the area legally described as follows: Commencing as a point of reference at the intersection of the centerline of E. 12th Street and the westerly right of way of Elm Street extended southeasterly, in the City of Dubuque, Dubuque County, Iowa, said point being the point of beginning; Thence northwesterly along said westerly right of way line of Elm Street and extension thereof to a point of intersection with the northerly right of way line of E. Fifteenth Street; Thence northeasterly along said northerly right of way line to a point of intersection with the westerly right of way line of a public alley lying between Pine Street and Maple Street; Thence northwesterly along said westerly right of way line to the northeast corner of the North 35 feet of Lot 255 in East Dubuque Addition; Thence southwesterly along the northwesterly line of said Lot to a point of intersection with the easterly right of way line of Pine Street; Thence northwesterly along said easterly right of way line and extension thereof to the northerly right of way line of E. 16 Street; Thence northeasterly along said northerly right of way line to the southwest corner of Lot 1 of Kerper Industrial Park; Thence northwesterly and continuing northeasterly along the westerly line of said Lot 1 to the most northerly corner thereof; Thence southwesterly along the westerly lines of Lot 1 -2 and Lot 2A of Kerper Industrial Park to the southwest corner of said Lot 2A; Thence northeasterly along the southerly line of said Lot 2A to the southeast corner thereof; Thence northwesterly along the easterly line of said Lot 2A to the southwest corner of Lot 6 of Kerper Industrial Park; Thence northeasterly along the southerly line of said Lot 6 to the southeast corner thereof; Thence northwesterly along the easterly line of said Lot 6 to the northeast corner thereof and point of intersection with the southerly right of way line of Kerper Court; Thence northeasterly along said southerly right of way line and extension thereof to a point of intersection with the centerline of Kerper Blvd; Thence northwesterly along said centerline to a point of intersection with the northerly line of Lot 3 of Kerper Industrial Park extended easterly; Thence northwesterly along said extended line to the northeast corner of said Lot 3, said point also being on the westerly right of way line of Kerper Blvd.; Thence northerly along said right of way line to a point of intersection with the northeasterly right of way line of Fengler St.; Thence southeasterly along the extension of said northeasterly right of way line crossing Kerper Blvd. to a point of intersection with the westerly line of Lot 1A of Block 7 River Front Subdivision No. 3, said point being on the easterly right of way line of Kerper Blvd.; Thence southeasterly along said easterly right of way line to a point of intersection with the northerly right of way line of E. 16 Street; Thence southeasterly crossing E. 16 Street to a point of intersection of the south right of way line of E. 16 St. and the east right of way line of Kerper Blvd.; Thence northeasterly along the southerly right of way line of E. 16 St. to a point of intersection with the westerly shore of Peosta Channel; Thence southeasterly continuing along the westerly shore of Mississippi River adjacent to the following: Kerper Blvd., River Front Subdivision No. 2, Part of Government Lot 3, Section 19, T89N, R3E, 5 P.M., -17- Parts of Congressional Lot 8 in Section 19, T89N, R3E, 5 P.M, Dubuque Harbor Improvement Company's Addition, and River Front Subdivision No. 1, to a point of intersection with the northerly line of Ice Harbor Urban Renewal Subarea B, described as "that area generally bounded on the north and west by the Chicago, Central and Pacific Railroad right -of -way, on the south by the northerly boundary of Subarea A and on the east by the municipal limits of the City of Dubuque including any adjoining public right -of -way; Thence northwesterly and continuing southwesterly along the northerly and westerly sides of Ice Harbor Urban Renewal District Subarea B to a point of intersection with the southerly right of way line of E. 4 street; Thence southwesterly along said southerly right of way line to a point of intersection with the centerline of U.S. Highways 61/151; Thence northeasterly along said centerline to a point of intersection with the centerline of E. 12 Street; Thence southwesterly along said centerline to a point of intersection with the westerly right of way line of Elm St. extended, said point being the point of beginning; Excepting therefrom, the East 7 Street Subarea. (q) East 7 Street Subarea shall mean that portion of the Amended Project Area initially described in the Amended and Restated Urban Renewal Plan for the Greater Downtown Urban Renewal District approved by Resolution No. 155 -11 on May 2, 2011, which East 7 Street Subarea includes the Tots and parcels located within the area legally described as follows: Block 13 Lot 1 of Lot 4, Lot 1 of Lot 5, Lot 1 of Lot 6, and Lots 7, 8, 9, 10, 11, 12, 13 and 14; Block '16 Lots 1, 2, 3, 4 and 5; and Block 17 Lots A, B, C, D, E, F, Lots 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, and 15, Lot 1 of Lot 16, Lot 1 of Lot 1 of Lot 17, Lot 2 of Lot 1 of Lot 18, Lot 2 of Lot 20, Lot 2 of Lot 21, Lot 2 of Lot 22, Lot 2 of Lot 23, Lot 2 of Lot 24, Lot 2 of Lot 25, Lot 2 of Lot 26, Lot 2 of Lot 27, Lot 3 of Lot 28, Lot 3 of Lot 29, Lot 3 of Lot 30, Lot 3 of Lot 31, Lot 3 of Lot 32 all in the Dubuque Harbor Improvement Co.'s Addition, Township 89 North, Range 3 East of the 5th P.M., Dubuque County, Iowa and any adjoining public right -of -way. (r) Chaplain Schmitt Subarea shall mean that portion of the Amended Project Area added by the Amended and Restated Urban Renewal Plan for the Greater Downtown Urban Renewal District approved by Resolution No. 155 -11 on May 2, 2011, which Chaplain Schmitt Subarea includes the Tots and parcels located within the area legally described as follows: All of that part of the City of Dubuque Tying easterly of the Peosta Channel also known as Chaplain Schmitt Island and the area lying east of the easterly right of way line of Kerper Boulevard between the centerline of U.S. Highway 61/151 and the southerly right of way line of E. 16 Street in Sections 17, 18, 19 and 20, T89N, R3E, 5 P.M. in the City of Dubuque, Dubuque County, Iowa. -18- (s) Amended Project Area shall mean the areas of the City of Dubuque, Iowa included within the Original Town Clock Subarea, the Old Main Subarea, the Town Clock Expansion Subarea, the Upper Main Subarea, the Ice Harbor Subarea A, the Ice Harbor Subarea B, the Ice Harbor Subarea C, the Warehouse Subarea, the South Main Subarea, the South Port Subarea, the Cable Car Subarea, the Bluff Street Subarea, the South Bluff Street Subarea, the Kerper Boulevard Subarea, the Washington Neighborhood Subarea, the Industrial Harbor Subarea, the East 7 Street Subarea and the Chaplain Schmitt Subarea, each as described in this Section. (t) Urban Renewal Plan shall mean the Amended and Restated Urban Renewal Plan for the Greater Downtown Urban Renewal District, approved by Resolution No. 155 -11 on May 2, 2011, as the same may be amended from time to time. Section 2: The taxes levied on the taxable property in the Amended Project Area, legally described in Section 1 hereof, by and for the benefit of the State of Iowa, City of Dubuque, County of Dubuque, Dubuque Community School District, and all other taxing districts from and after the effective date of this Ordinance shall be divided as hereinafter in this Ordinance provided. Section 3: As to the Original Town Clock Subarea, that portion of the taxes which would be produced by the rate at which the tax is levied each year by or for each of the taxing districts taxing property in the Original Town Clock Subarea upon the total sum of the assessed value of the taxable property in the Original Town Clock Subarea as shown on the assessment roll as of January 1, 1966, being the assessment roll last equalized prior to the date of the initial adoption of the Urban Renewal Plan for the Downtown Dubuque Urban Renewal Project, Iowa R -15, shall be allocated to and when collected be paid into the fund for the respective taxing district as taxes by or for said taxing district into which all other property taxes are paid. The taxes so determined shall be referred herein as the "base period taxes" for such subarea. As to the Old Main Subarea, base period taxes shall be computed in the same manner using the total assessed value shown on the assessment roll as of January 1, 1993, being the assessment roll as of January 1 of the calendar year preceding the effective date of Ordinance No. 23 -94. As to the Town Clock Expansion Subarea, base period taxes shall be computed in the same manner using the total assessed value shown on the assessment roll as of January 1, 1996, being the assessment roll as of January 1 of the calendar year preceding the effective date of Ordinance No. 67 -97. As to the Upper Main Subarea, base period taxes shall be computed in the same manner using the total assessed value shown on the assessment roll as of January 1, 2001, being the assessment roll as of January 1 of the calendar year preceding the effective date of Ordinance No. 26 -02. -19- As to the Ice Harbor Subarea A, base period taxes shall be computed in the same manner using the total assessed value shown on the assessment roll as of January 1, 1988, being the assessment roll as of January 1 of the calendar year preceding the effective date of Ordinance No. 66 -89. As to the Ice Harbor Subarea B, base period taxes shall be computed in the same manner using the total assessed value shown on the assessment roll as of January 1, 1999, being the assessment roll as of January 1 of the calendar year preceding the effective date of Ordinance No. 97 -00. As to the Ice Harbor Subarea C, base period taxes shall be computed in the same manner using the total assessed value shown on the assessment roll as of January 1, 2006, being the assessment roll as of January 1 of the calendar year preceding the effective date of Ordinance No. 20 -07. As to the Warehouse Subarea, base period taxes shall be computed in the same manner using the total assessed value shown on the assessment roll as of January 1, 2006, being the first day of the calendar year preceding the effective date of Ordinance No. 63 -07. As to the South Main Subarea, base period taxes shall be computed in the same manner using the total assessed value shown on the assessment roll as of January 1, 2006, being the first day of the calendar year preceding the effective date of Ordinance No. 63 -07. As to the South Port Subarea, base period taxes shall be computed in the same manner using the total assessed value shown on the assessment roll as of January 1, 2007, being the first day of the calendar year preceding the effective date of Ordinance No. 60 -08. As to the Cable Car Subarea, base period taxes shall be computed in the same manner using the total assessed value shown on the assessment roll as of January 1, 2008, being the first day of the calendar year preceding the effective date of Ordinance 58 -09. As to the Bluff Street Subarea, base period taxes shall be computed in the same manner using the total assessed value shown on the assessment roll as of January 1, 2009, being the first day of the calendar year preceding the effective date of Ordinance 51 -10. As to the South Bluff Street Subarea, base period taxes shall be computed in the same manner using the total assessed value shown on the assessment roll as of January 1, 2010, being the first day of the calendar year preceding the effective date of this Ordinance. -20- As to the Kerper Boulevard Subarea, base period taxes shall be computed in the same manner using the total assessed value shown on the assessment roll as of January 1, 1993, being the first day of the calendar year preceding the effective date of Ordinance 43 -94. As to the Washington Neighborhood Subarea, base period taxes shall be computed in the same manner using the total assessed value shown on the assessment roll as of January 1, 2010, being the first day of the calendar year preceding the effective date of this Ordinance. As to the Industrial Harbor Subarea, base period taxes shall be computed in the same manner using the total assessed value shown on the assessment roll as of January 1, 2010, being the first day of the calendar year preceding the effective date of this Ordinance. As to the East 7 Street Subarea, base period taxes shall be computed in the same manner using the total assessed value shown on the assessment roll as of January 1, 1996, being the first day of the calendar year preceding the effective date of Ordinance 64 -97. As to the Chaplain Schmitt Subarea, base period taxes shall be computed in the same manner using the total assessed value shown on the assessment roll as of January 1, 2010, being the first day of the calendar year preceding the effective date of this Ordinance. Section 4: That portion of the taxes each year in excess of the base period taxes for the Amended Project Area, determined for each subarea thereof as provided in Section 3 of this Ordinance, shall be allocated to and when collected be paid into the special tax increment fund previously established by the City of Dubuque to pay the principal of and interest on loans, monies advanced to, or indebtedness, whether funded, refunded, assumed or otherwise, including bonds issued under authority of Section 403.9 or Section 403.12 of the Code of Iowa, incurred by the City of Dubuque, Iowa to finance or refinance, in whole or in part, urban renewal projects undertaken within the Amended Project Area pursuant to the Urban Renewal Plan, except that taxes for the regular and voter - approved physical plant and equipment levy of a school district imposed pursuant to Section 298.2 of the Code of Iowa (but only to the extent required under Section 403.19(2)) and taxes for the payment of bonds and interest of each taxing district shall be collected against all taxable property within the Amended Project Area without any limitation as hereinabove provided. Section 5: Unless or until the total assessed valuation of the taxable property in the subareas of the Amended Project Area exceeds the total assessed value of the taxable property in said subareas shown by the assessment rolls referred to in Section 3 of this Ordinance, all of the taxes levied and collected upon the taxable property in the -21- Amended Project Area shall be paid into the funds for the respective taxing districts as taxes by or for the taxing districts in the same manner as all other property taxes. Section 6: At such time as the loans, monies advanced, bonds and interest thereon and indebtedness of the City of Dubuque referred to in Section 4 hereof have been paid, all monies thereafter received from taxes upon the taxable property in the Amended Project Area shall be paid into the funds for the respective taxing districts in the same manner as taxes on all other property. Section 7: All ordinances or parts of ordinances in conflict with the provisions of this Ordinance are hereby repealed. The provisions of this Ordinance are intended and shall be construed so as to continue the division of taxes from property within the Amended Project Area under the provisions of Section 403.19 of the Code of Iowa, as authorized in Ordinance Nos. 51 -10, 64 -97 and 43 -94, each as previously amended, and to fully implement the division of taxes in the South Bluff Street Subarea, the Washington Neighborhood Subarea, the Industrial Harbor Subarea, and the Chaplain Schmitt Subarea. In the event that any provision of this Ordinance shall be determined to be contrary to law it shall not affect other provisions or application of this Ordinance which shall at all times be construed to fully invoke the provisions of Section 403.19 of the Code of Iowa with reference to the Amended Project Area and the territory contained therein. Section 8: This Ordinance shall be in effect after its final passage, approval and publication as provided by law. PASSED AND APPROVED this 2nd day of Ju 2011. ATTE . T: City Clerk Read first time: June 6, 2011 Read second time: June 6, 2011 Read third time: June 6, 2011 PASSED AND APPROVED: June 6, 2011 Mayor PUBLISHED: June 10, 2011 F: \USERS \Econ Dev \Urban Renewal \Greater Downtown UR District\2011.2 Amendment \TIF Ordinance\20110513 GD TIF Ordinance.doc -22-