Tax Increment Financing Rep 04
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MEMORANDUM
December 14, 2004
TO:
The Honorable Mayor and City Council Members
FROM:
Michael C. Van Milligen, City Manager
SUBJECT: 2004 ANNUAL Tax Increment Financing REPORT
Economic Development Director Bill Baum is transmitting the 2004 summary report on
the City's use of Tax Increment Financing to support private economic development
projects.
li!t c(!tr:, ///1-{
Michael C. Van Milligen ----
MCVM/jh
Attachment
cc: Barry Lindahl, Corporation Counsel
Cindy Steinhauser, Assistant City Manager
William Baum, Economic Development Director
CITY OF DUBUQUE, IOWA
MEMORANDUM
December 14, 2004
FROM:
Michael Van Milligen, City Manager
William Baum, Economic Development Director If(J ~{~
2004 ANNUAL Tax Increment Financing REPORt
TO:
SUBJECT:
Introduction
This memorandum transmits to the City Council the 2004 summary report on the City's
use of Tax Increment Financing (TIF) to support private economic development
projects. Several attachments provide both a chronology and graphic illustration of TIF-
assisted private economic development projects to date. Also included is Budget
Director Dawn Lang's annual urban renewal project report that is filed with the County
Auditor by December 1st of each year and identifies both the public and private TIF-
eligible expenditures for which tax increment reimbursement is sought.
Discussion
State Authorization
The Iowa Code provides that cities can use TIF for certain public and private economic
development purposes once an urban renewal plan is approved and an urban renewal
district is established. Traditionally, urban renewal projects involved public purpose
activities related to the elimination of "slum and blight." Urban renewal law was
expanded to allow other "economic development" activities, including direct grants and
loans to private persons/parties for economic development projects that created new
jobs and investment in designated urban renewal districts that did not have to be "slum
and blight" areas.
Private Economic Deve/opment Purposes
The ability to use TIF to assist private economic development projects in urban renewal
districts has become a very useful financing tool and incentive for private investment in
urban renewal districts. TIF has allowed the City to assist private economic
development projects based on the new "tax increment" created by the projects
themselves. The City is able to capture the new taxable value created by a project and
use the new property taxes generated from that new value (the new "tax increment") to
assist a project directly. Since 1983, the City has approved assistance to 21 private
projects in the form of either: 1) an up-front financial grant through a bond instrument
repaid with 10 years of the new tax increment property taxes; or 2) a commitment of up
to 10 years rebate of the new tax increment property taxes directly back to the property
owner.
The decision to limit the City's TI F commitments to 1 O-year terms has been a general
City Council policy. The maximum length of any commitment is also based on the
individual urban renewal district's duration.
2004 T/F Projects
In 2004, the City finalized three pending projects that were identified in last year's
report. The Lower Main Development project that renovated the former Weber Paper
Company building in Old Main was completed along with funding for the recently
completed new construction projects for Vessel Systems and The Adams Company in
the Dubuque Industrial Center West. TIF bonds were issued to assist all three projects.
The only current pending project is a TIF bond to assist the redevelopment of the former
Dubuque Star Brewery.
The job creation chart reports 2,459 total jobs for projects assisted since 1999 that had
job reporting obligations. Four projects are still within their original timeline to reach job
creation goals. In most instances, job counts showed positive gains over 2003.
Annual Urban Renewal Project Report filed with County Auditor
By December 1 st of each year, the City's Budget Director files a lengthy report with the
County Auditor certifying TIF-eligible expenses for urban renewal projects in the various
urban renewal districts for which the City seeks reimbursement from the tax increment.
Since 1983, the total qualifying expenses in all districts is $57,544,087. This includes
both public and private projects. To date, the City has received $17,997,335 in
reimbursements from the tax increment. The City will continue to receive
reimbursements until the total qualifying expenses are repaid. [The attached chart
summarizing the Budget Director's report shows that in 2003 the total qualifying
expenses was reported at over $69 million. The current report makes an adjustment in
the Ice Harbor District's expenses reported in 2003 that reduces the total
reimbursement request.]
It is important to note that of the total qualifying expenses, 63% of the TIF funds has
been spent on public projects, including new industrial park development, reopening
Main Street, new parking ramps and the America's River project. The remainder has
been committed to the private economic development projects identified in this report.
Summary
The City's 21-year experience with tax increment financing has provided valuable
resources for both public and private reinvestment and renewal in the community. The
City continues to utilize this economic development tool to reach public goals of
property tax expansion, job creation, building rehabilitation and community
enhancement. Tax increment financing has been a critical tool for the City and its
overall economic development strategy.
Action Step
The action step for the City Council is to receive and file this 2004 Annual TIF Report.
attachments
F: IUS E RS\Pmyh re \WPDOCS\U R\ TI FReport\ TI F RE PORT memo. 2004. d oc
TIF Chronology - 21 Years of Private Investment
Year
1983
Company
Security Building
1988
Metrix
1991
Nordstrom
Clarion Hotel
1996
Precision Tool
1997
Weber Paper
Swiss Valley Farms
1998
Morrison Bros.
TFM
1999
Eagle Window & Door
Advanced Data-Comm
CarteGraph
CIGNNPrudential
2000
DAIDC Spec Building
2001
McGraw-Hili
2002
Giese Manufacturing
Heartland Financial
Quebecor World
2004
Vessel Systems
Adams Company
Weber Building
TOTAL:
Amount/Type of TIF
$ 360,000 Bond * ($533,309 interest/fees)
$ 125,000 Bond
$1,000,000 Bond
$1,200,000 Bond
$ 115,000 Rebate **
($154,722 with interest/fees)
($1,302,072 with interest/fees)
($1,614,363 with interest/fees)
$ 150,000 Rebate
10 yr. Rebate *** (est. $0 ^)
10 yr. Rebate (est. $187,000)
$ 104,000 Rebate
$3,200,000 Bond
$ 900,000 Bond
$ 360,000 Bond
10 yr. Rebate
10 yr. Rebate
10 yr. Rebate
10 yr. Rebate
10 yr. Rebate
10 yr. Rebate
($4,928,921 with interest/fees)
($1,104,350 with interest/fees)
($457,728 with interest/fees)
(est. $2,700,000) .
(est. $406,000)
(est. $2,800,000)
(est. $290,000)
(est. $478,000)
(est. $600,000)
$ 140,000 Bond ($222,896 with interest/fees)
$ 500,000 Bond^^ ($628,148 with interest/fees)
$ 150,000 Bond ($297,102 with interest/fees)
$19,073,611
+ 2.195.000 Downtown Rehab Loan Program
$21,268,611 Private economic development projects
* A bond is issued to generate up-front cash for a project. The new property taxes
generated by the project's new assessed value (the tax increment) are captured over a 10
year period to repay the bond. The property owner pays taxes due, the taxes are sent to the
City, the City pays the bond holder (typically a local bank) from the tax increment.
** 100% rebate (except for debt service levies) of the new property taxes generated by the
project's new assessed value (the tax increment) provided to the property owner only until
that time when the predetermined maximum amount of rebate is reached, typically 5-10
years. The property owner pays taxes due, the taxes (minus debt service) are sent to the
City, the City rebates the tax increment to the property owner.
*** 100% rebate (exceptfor debt service levies) of the new property taxes generated by the
project's new assessed value (the tax increment) for a full 10 year period. The property
owner pays taxes due, the taxes (minus debt service) are sent to the City, the City rebates
the tax increment to the property owner.
^ Due to the elimination of Machinery and Equipment from the property tax calculation,
Swiss Valley Farms had a roll back of taxes. The new assessed value created by their
expansion project, which would have created the tax increment, is still below the original tax
basis.
^^ Adams Co. amount is equal to difference in purchase price and cost of new building.
F:\USERSIPmyhre\WPDOCS\UR\TIFReport\TIF chart2.2004.doc
Year
1983
1988
1991
1996
1997
1998
1999
2000
2001
2002
2004
TIF PROJECTS - Private Investment and Job Creation
New Jobs Jobs to be Penalty
Company Project Value TIF Amount Retained Created By Date 2004 Jobs /Job
Security Building $ 360,000
Metrix $ 125,000
[FILES CLOSED FOR THESE PROJECTS]
NDrdstrom $5,000,000 $1,000,000
Clarion HDtel $9,100,000 $1,200,000
. .
Precision TDDI $1,100,000 $ 115,000
[NO SPECIFIC JOB REQUIREMENT FOR
Weber Paper $1,200,000 $ 150,000 THESE PROJECTS BECAUSE SOME HAD
Swiss Valley Farms $5,500,000 $ 0 OTHERLOANS(CEBA,CDBG,EDA)THAT
REQUIRED JOB CREATION]
MDrrisDn BrDs. $2,000,000 $ 187,000
TFM $1,300,000 $ 104,000
. .
Eagle Window & DDDr $15,000,000 $3,200,000 475 168 12/31/03* 700 $3360
Advanced Data-CDmm $ 6,000,000 $ 900,000 317 51 12/01/01* 300 est. $ 0
CarteGraph $ 2,000,000 $ 360,000 120 80 01/01/02 50 $1300
CIGNNPrudential $10,000,000 $2,700,000 320 200 03/31/02* 579 $2250
DAIDC Spec Building $1,400,000 $ 406,000 [NO REQUIREMENT]
McGraw-Hili $10,000,000 $2,800,000 100 10 10/15/03* 89 $7729
Giese Manufacturing $ 1,000,000 $ 290,000 31 10 03/04/05 46 $5707
Heartland Financial $ 5,000,000 $ 478,000 255 45 12/31/08 294 $1062
QuebecDr $24,000,000 $ 600,000 230 106 03/31/05 361 $ 134
Vessel Systems $1,000,000 $ 140,000 24 25 06/02/06 40 $3908
Adams Company $2,800,000 $ 500,000 [NO REQUIREMENT]
Weber Building $2,000,000 $ 150,000 [NO REQUIREMENTITIED TO SHEPHERD RELOCATION
AND CEBA]
$105,400,000+ $15,765,000
in new in direct TlF
investment incentives
(15% Df new
investment)
695
new
jobs
pledged
2,459
current
total
jobs
21 Year TOTALS
1,872
retained
jobs
* JDb creation DbligatiDns met by deadline.
F:\USERSIPmyhre\WPDOCS\UR\TIFReport\TIF chart3.1.2004.doc
ECONOMIC DEVELOPMENT TIF PROJECTS
by Urban Renewal District
Greater Downtown (Downtown and Ice Harbor)
Security Building
Clarion Hotel
CIGNNPrudential
TFM
Heartland Financial (Walsh Store)
Lower Main Development (Weber Bldg)
Historic Property Tax Rebate
Town Clock Building
Bricktown
Downtown Rehabilitation Loan Program
Bakey Kitchens/Relm House
Grand Opera House (2)
Atlast Fluid Power
Cinema X Building
Security Building
Dubuque Museum of Art
Jorga's Restaurant
Iowa Inn
Pepper Sprouts
Bricktown
Town Clock Building
Heartland Financial (Waish Store)
Gronen Upper Main Buildings (pending)
Lower Main Development (pending)
Façade Grants
Capri Cosmetology
Pepper Sprouts
Ellen's Floral
Butt's Florist
Bricktown
McCoy Jewelers
Fischer Office Building
Cinema X
Canvas Products
Old Main Hotel
Atlast Fluid Power
Herbst Upholstery
Jocille's Building
Kerper Boulevard
Eagle Window & Door
DICISouth (Dubuque Technology Park)
Advanced Data-Comm
CarteGraph
Dubuque Industrial Center
Metrix
Nordstrom
Precision Tool
Weber Paper
DAIDC Spec Building
McGraw-Hili
Giese Manufacturing
Vessel Systems
Adams Company
East 7th Street
Morrison Bros,
Swiss Valley 1(closed out)
Swiss Valley 2
Swiss Valley Farms
Quebecor
Quebecor World
Dubuque Corporate Center (closed out)
F: IUS E RS\Pmyh re \WPDOcS\U R\ TI FReport\ TI Fch a rt4. 2004. doc
UR District
SUMMARY of the Budget Director's
URBAN RENEWAL PROJECT REPORT
Qualified Expenses
Since 1983
Reimbursements
To Date
Downtown
Ice Harbor
Greater Downtown*
Kerper
DIC/South (Tech Park)
DIC
E, yth Street
Swiss Valley
Quebecor
TOTAL
2003
2003 2004
$17,869,714
20,810,678
26,181,480
6,181,427 6,995,826
6,268,219 6,263,811
17,079,832 17,298,672
186,954 187,477
16,821 16,821
600,000 600,000
$69,013,645 $57,544,087**
$7,114,307
641,529
9,259,284
1,110,281 1,672,869
695,892 968,554
4,880,515 5,964,687
96,431 116,385
448 448
0 15,108
$14,539,403 $17,997,335
* The Downtown and Ice Harbor Districts were combined to form the Greater Downtown District in 2004.
** An adjustment was made in the Ice Harbor District's 2003 qualified expenses related to a bond issuance for the America's River project that
reduced the reimbursement request.
F: IUS E RSIPmyh relWPDOcSIU RI TI FReport\TI FchartS. 2004. doc
EÚ'n, 'Dc.,I,
CC(~[P¥
November 29, 2004
TO THE CITY OF DUBUQUE
The undersigned hereby acknowledges receipt of certificates for "Revised Fiscal
Year 2005" and NFiscal Year 2006" regarding Urban Renewal Projects.
"Greater Downtown Urban Renewal Project" (Downtown - Upper Main Sub Area,
Town Clock Plaza Sub Area and Old Main Sub Area: 1 and 2 and 3 and 4 and
amendment 38 / Ice Harbor Sub Areas 'A and B: 7 and Amendment 35)
"Kerper Boulevard Industrial Site Economic Development District" (23 and Eagle
Window District Amendment)
"Dubuque Industrial Center/South Economic Development District" (26)
"Dubuque Industrial Center Economic Development District" (District 5 and 6 and
6A and 32 and 32M
"East 7th Street Economic Development District" (25)
"Swiss Valley" (27)
"Quebecor Economic Development District" (37)
Dated at Dubuque, Iowa this :>o'f.f"o.- day of No V 11r\.ku-.y2004.
~ 6.^- 1-1 ;J ~,,'--
Dubuque County Auditor
Revised Fiscal Year 2005
PROJECT DESIGNATION: GREATER DOWNTOWN URBAN RENEWAL PROJECT
STATE OF IOWA )
)SS
COUNTY OF DUBUQUE)
Certificate of City Clerk of Dubuque, Iowa, to Dubuque County Auditor pursuant to the Code of
Iowa, Section 403.19(2).
I certify that the City of Dubuque, Iowa, has issued and expended a total of $26,181,480.01
as shown by the attached Schedules #1 , derived from loans, advances, indebtedness or bonds,
principal and interest, issued or advanced in furtherance of the urban renewal project designated
"Greater Downtown Urban Renewal Project". I further certify that the City has heretofore received
payments into the special tax increment fund under Code of Iowa Section 403.19(2) applicable to
the aforesaid expenditures in the amount of $7,706,995.70 as shown by the attached Schedules
#2.
For Fiscal Year 2004-2005, the City requests that 1 00% of taxes be levied to the maximum
amount permitted in the "Ice Harbor Sub Areas A and B", Tax Increment District # 7 and #35 by
Section 403.19(2) and Ordinance No. 35-04 of the City of Dubuque, Iowa, to be paid into the
special fund under that section.
For Fiscal Year 2004-2005, the City requests that the "Downtown Sub Areas - Upper Main,
Town Clock Plaza and Old Main" taxes be levied to the maximum extent in the amount of 100% of
the taxes generated by the Thompson Building Increment, 100% ofthe Prudential (Cigna) Building
Increment, 100% of the Cottingham and Butler Increment, 100% ofthe Bricktown Increment, 100%
of the Heartland Financial Increment, 100% of the Kunkel-Briggs (Lower Main Development LLC)
Increment, and 75% of the maximum funds generated by the balance of property in Tax Increment
District #1, Tax Increment District #2. Tax Increment District #3, Tax Increment District #4, and Tax
Increment District #38, as permitted by Section 403.19(2) and Ordinance No. 35-04 of the City of
Dubuque, Iowa, to be paid into the special fund under that section.
-2/111.:.-- &. /
Dated. this ift/ day of '/"r/'¿~ çj./(./
/' / ~ .~/ J
'Á:1/2c/~/ f J ç>;¿¿Á~'--"
Y Clerk
Dubuque, Iowa
,2004.
PROJECT DESIGNATION: GREATER DOWNTOWN URBAN RENEWAL PROJECT
(ICE HARBOR SUB AREAS A AND B)
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
PROJ
# PROJECT TITLE FY SOURCE AMOUNT USE OF DOLLARS
ICE HARBOR 1990-91 Advance from C;¡y Fds $394,266.00 Land Acquisition
OEVELOPMENT Advance from City Fds 22,152.00 Consulting Engineering
Advance from City Fds 6,555.00 Signage
Advance from City Fds 42,106.00 RR Relocation
Advence from City Fds 171,734.00 Sheet Piling
Advance from City Fds 24,042,00 Oepot Improvements
Advance from City Fds 662,354.00 Parking Lots
Advance from City Fds 12,847.00 Pier Ramp
Advance from City Fds 36.443.00 Floodwall Improvements
Advance from City Fds 145,556.00 Cleanup and Clearance
Advance from City Fds 17,095.00 Overpass Stairs
1996.99 Advance fmm C;¡y Fds 15,730.481 Interest Earnings
2000 Advance from City Fds 8,981. 70 Services from CEO staff
2000 Advance from City Fds 1848.731 Interest Earnings
2002 Advance fmm City Fds 1700.421 Interest Earnings
2003 Advance from City Fds 1333.181 Interest Earnings
2004 Advance from City Fds 1609.521 Interest Earnings
2005 Advance from City Fds 12.111 Interest Earnings
TOTAL PROJECT $1,535,907.26
AMERICA'S RIVER PROJECT
2002-2022 G.O. Bond Issue 12-01
2002-2022 G.O. Bond Issue 1-02
2002-2022 Interest
2002.2022 Gaming Revenue-CIP
2003 Private Participation
2003 Advance from City Fds
2005 Advance from City Fds
2005 Advance from City Fds
2005 Advance from City Fds
2006 Advance from City Fds
2005-06 TIF Bonds. Principal
2005-06 TIF Bonds - Interest
TOTAL PROJECT
GRANO TOTAL
9,500,000.00
2,860,000.00
6,959,659.01
112,591,558.001
1672,375.001
855.66
1,966.80
49,889.00
248,096.10
255,037.00
0.00
0.00
$6,611,570.57
Interest expo over life of bonds
Gaming Revenue to Abate Oebt
County payment 1 st yr interest
Legal Expense
Legal Expense
Oevelopment Agreement -Platinum
Facility Management Agreement
payments for two years only
Actual Principal Paid from TIF
Actual Interest Paid from TIF
$8,147.477.83
PROJECT DESIGNATION: GREATER DOWNTOWN URBAN RENEWAL PROJECT
(DOWNTOWN SUB AREAS: UPPER MAIN. TOWN CLOCK PLAZA. AND OLD MAIN)
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
PROJ
# PROJECT TITLE
FY
SOURCE
AMOUNT
USE OF DOLLARS
SECURITY BUILDING
RENOVATION
TRILOG BUILDING
3
HOTEL PROJECT
4
DOWNTOWN LOAN
POOL-BLDG FACADES
5
ALLEYS I STREETS I CURB
RAMPS
1983 Urban Renewal Bonds
1983 Urban Renewal Bonds
1983 Urban Renewal Bonds
TOTAL PROJECT
1990 Advance from City Fds.
1990 Advance from City Fds.
1990 Advance from City Fds.
TOTAL PROJECT
1991 108 Loan-HUD-8-14-90
1992 108 Loan-HUD-8-14-90
1992 108 Loan-HUD-8-14-90
1993 Advance from CDBG
TOTAL PROJECT
1994 Advance from City Fds
1995 Advance from City Fds
1996 Advance from City Fds
1998 Advance from Cily Fds
1999 Advance from Clly Fds
2000 Advance from City Fds
2001 Advance from City Fds
2002 Advance from City Fds
2003 Advance from City Fds
2004 Advance from City Fds
TOTAL PROJECT
1995 Advance from City Fds
1996 Advance from City Fds
1997 Advance from City Fds
TOTAL PROJECT
$360,000,00
205,787.48
132,478,00)
$533,309.48
38,612.79
4,141,00
18.210.72
$60.964.51
$1,200,000.00
395,139.06
(38,776,181
58.000.00
$1.614,362.88
$260.000.00
387,000.00
200,000.00
568,000,00
365,000.00
100,000.00
100,000,00
100,000,00
90.000.00
25,000.00
$2,195,000.00
$153,165.65
17,133.01
18,643.35
$188,942.01
Principal
Interest
Capitalized Interest
Temporary Parking
Landscaping
Building Site Impr.
Principal
Interest
Interest Earnings
Easement Purchase
Addition to loan pool
Addition to loan pool
Addition to loan pool
Addition to loan pool
Addition to loan pool
Addition to loan pool
Addition to loan pool
Addition to loan pool
Addition to loan pool
Addition to loan pool
Construction costs
Construction costs
Construction costs
6 MARKET STUDY 1995 Advance from City Fds $29.600.00 Consultant
1996 Reimburse-Main St. Ltd. 14,600.001 Private Participation
TOTAL PROJECT $25,000.00
DOWNTOWN 1996 Advance from City Fds $35.898.73 Circulation Study
TRAFFIC CIRCULATION 1997 Advance from City Fds 30,287.70 Circulation Study
1998 Advance from City Fds 9,689.82 Circulation Study
1999 Advance from City Fds 20.272,00 Signal Changes
1999 Advance from City Fds 191,410.00 8th St. Opening Eng.
1999 Advance from City Fds 75.820.00 8th St. Opening Const.
2000 Advance from City Fds 129,198,88 8th St, Opening Const,
2005-21 G.O. Bonds 945,000.00 Main St Opening 5th - 9th
2005-21 G.O, Bonds-Interest Exp 448.245.00 Main St Opening 5th - 9th
2001-04 TIF 80nds - Principal 55,000.00 Actual Principal Paid
2001-04 TIF Bonds - Interest 99,406.88 Actual Interest Paid
TOTAL PROJECT $2,040,229.01
8 UNDERGROUND WIRES 1997-98 Advance from City Fds $41.032,37 Construction Mangement
1999 Advance from City Fds 77,481.63 Wiring Contracts 120% of total cost)
2000 Advance from City Fds 1,830.63 Design
2000 Advance from City Fds 17,714.03 Construction-Wiring
TOTAL PROJECT $138,058.66 City reimbursed 80% through Grant
PROJECT DESIGNATION: GREATER DOWNTOWN URBAN RENEWAL PROJECT
(DOWNTOWN SUB AREAS: UPPER MAIN. TOWN CLOCK PLAZA. AND OLD MAIN)
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.1912)
PROJ
# PROJECT TITLE
FY
SOURCE
AMOUNT
USE OF DOLLARS
9
THOMPSON BUILDING
10
PARKING SYSTEM EXP.
11
MISCELLANEOUS TIF FD
REVENUES AND EXP.
2001 TIF Funds
2003 TIF Funds
2003 TIF Funds
2004 TIF Funds
2005 TIF Funds
TOTAL PROJECT
1999 Advance from City Fds
2000 Advance from City Fds
2000 Rents and Concessions
2000 Property Tax Sale Rei
2001 Environmental Testing
2005-20 GO Bonds
2005-20 Interest Expense
2001-04 TIF Bonds - Principal
2001-04 TIF Bonds - Interest
TOTAL PROJECT
1996
1997
1998
1999
1998
1999
1999/00
2001
2003
2005
Combining of TIF Districts
TOTAL PROJECT
$16,494.00
17,368,00
18,873,62
19,642.33
19,000.00 Est.
$91,377.95
$89,977.63
314,908.27
11,975.001
12,310,001
4,895.00
5,023,434.50
2,472,318.15
576,565.50
999,993.71
$9,477,807.76
1$27,418.67)
19,903.88)
1915,591
12,112,321
988,80
16,340.001
3,938.90
1236.45)
1,109.79
1,966.79
1$38,922.631
Economic Development Grant with
payments over 10 yrs @ $1 0,400/yr
to a maximum of $104,000
Appraisals, Land Acq., Demolition
Merchants & Dolans Demo, Related
Merchants
Merchants
Merchants/Dolans Sites
20 Yr GO Bonds sold for new 3rd Street Ramp
20 year Interest expense on GO Bonds
Actual Principal Paid
Actual Interest Paid
Interest Earnings
Interest Earnings
Interest Earnings
Property Tax-Sale Related
Legal Fees
Interest Earnings
Legal Fees
Interest Earnings
Legal Fees
50% Legal Fees
12 PRUDENTIAL PROJECT 2000 Advance from City Fds $1,500.00 10 years economic development
ICIGNAI 2003 Cigna Tax Payments-TIF 263,198.00 grant with no maximum
2004 Cigna Tax Payments-TIF 264,537.12
2005 Cigna Tax Payments-TIF 282,549.52 Est.
TOTAL PROJECT $811.784.64
13 COTTINGHAM & BUTLER 2004 TIF revenues generated $5,846,28 Historic Preservation Rebate program
2005 by project 20,358.00 Defined tax rebate program over 8 yrs
TOTAL PROJECT $26,204.28 January 1, 2001 base value= $58,850
January 1, 2002 value = $197,690
January 1, 2003 value = $747,180
14 BRICKTOWN 2003 TIF revenues generated Historic Preservation Rebate program
by project-- 1 st 4 years $63,188.00 Defined tax rebate program over 8 yrs
5th Year 80% 12,637.60 Increment value of $564,1 gO
6th Year 60% 9,478.20
7th Year 40% 6,318.80
8th Year 20% 3,159.40
TOTAL PROJECT $94,782.00
15 HEARTLAND FINANCIAL 2003 TIF revenues generated $478,000.00 Est. Economic development rebate program
PROJECT DESIGNATION: GREATER DOWNTOWN URBAN RENEWAL PROJECT
(DOWNTOWN SUB AREAS: UPPER MAIN. TOWN CLOCK PLAZA. AND OLD MAIN)
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
PROJ
# PROJECT TITLE
FY
SOURCE
AMOUNT
USE OF DOLLARS
by project over 10 yrs
TOTAL PROJECT
$478,000.00
over 10 years commencing with
12-1-04 TIF filing
16
KUNKEL-BRIGGS
(LOWER MAIN)
2004 TIF bonds--principal
2004 TIF bonds--interest
2005 Advance from City Fds
$182.000.00
111,816.66
3,284.97
$297,101.63
TIF bonds to be repaid over
10 years
Legal Fees
GRAND TOTAL FOR URBAN RENEWAL AREA
$18,034,002.18
Revised Fiscal Year 2005
PROJECT DESIGNATION: GREATER DOWNTOWN URBAN RENEWAL PROJECT
(ICE HARBOR SUB AREAS A AND B)
Schedule 2
Tax Increment Reimbursement Received
Under Section 403.19(2)
Amount
Received
From Payments Cumulative
No. Year Received Under Section 403.19(2) Payments
FY 1994 $59,123.74 $ 59,123.74
2 FY 1995 $67,803.53 $126,927.27
3 FY 1996 $66,831.13 $193,758.40
4 FY 1997 $44,924.70 $238,683.10
5 FY 1998 $45,936.94 $284,620.04
6 FY 1999 $53,907.00 $338,527.04
7 FY 2000 $53,396.78 $391,923.82
8 FY 2001 $55,328.50 $447,252.32
9 FY 2002 $56,300,38 $503,552.70
10 FY 2003 $68,424.89 $571,977.59
11 FY 2004 $69,549.21 $641,526.80
12 FY 2005 (Estimate) $375,055.00 $1,016,581.80
Revised Fiscal Year 2005
PROJECT DESIGNATION: GREATER DOWNTOWN URBAN RENEWAL PROJECT
(DOWNTOWN SUB AREAS - UPPER MAIN, TOWN CLOCK PLAZA, AND OLD MAIN)
Schedule 2
Tax Increment Reimbursement Received
Under Section 403.19(2)
Amount Received
Year from Payments Cumulative
No. Received Under Section 403.19(2) Pavments
FY 1984 $ 39,458.09 $ 39,458.09
2 FY 1985 $ 87,008.45 $ 126,466.54
3 FY 1986 $ 80,940.29 $ 207,406.83
4 FY 1987 $ 84,949.07 $ 292,355.90
5 FY 1988 $ 75,413.12 $ 367,769.02
6 FY 1989 $106,025.23 $ 473,794.25
7 FY 1990 $ 42,587.45 $ 516,381.70
8 FY 1991 $ 86,756.67 $ 603,138.37
9 FY 1992 $359,904.69 $ 963,043.06
10 FY 1993 $361,625.38 $1,324,668.44
11 FY 1994 $660,614.07 $1,985,282.51
12 FY 1995 $634,279.91 $2,619,562.42
13 FY 1996 $409,680.44 $3,029,242.86
14 FY 1997 $279,723.01 $3,308,965.87
15 FY 1998 $ 8,040.60 $3,317,006.47
Revised Fiscal Year 2005
16 FY 1999 $626,581.00 $3,943,587.47
17 FY 2000 $609,697.55 $4,553,285.02
18 FY 2001 $444,838.49 $4,998,123.51
19 FY 2002 $384,808.36 $5,382,931.87
20 FY 2003 $796,249.56 $6,179,181.43
21 FY 2004 $886,287.47 $7,065,468.90
22 FY 2005 (Estimate) $1,177,233.00 $8,242,701.90
PROJECT DESIGNATION: GREATER DOWNTOWN URBAN RENEWAL PROJECT
liCE HARBOR SUB AREAS A AND BI
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.1912)
PROJ
# PROJECT TITLE FY SOURCE AMOUNT USE OF DOLLARS
ICE HARBOR 1990-91 Advance "om City Fds $394,266.00 Land Acquisition
OEVELOPMENT Advance from City Fds 22,152.00 Consulting Engineering
Advance from City Fds 6,555.00 Signage
Advance from City Fds 42,106.00 RR Relocation
Advance from City Fds 171,734.00 Sheet Piling
Advance from City Fds 24,042.00 Oepot Improvements
Advance from City Fds 662,354.00 Parking Lots
Advance f<om City Fds 12,847.00 Pier Ramp
Advance from City Fds 36,443.00 Floodwallimprovements
Advance from City Fds 145,556.00 Cleanup and Clearance
Advance from City Fds 17,095.00 Overpass Stairs
1996-99 Advance from City Fds 15,730.481 Interest Earnings
2000 Advance from City Fds 8,981.70 Services from CEO staff
2000 Advance from City Fds 1848.731 Interest Earnings
2002 Advance from City Fds 1700.421 Interest Earnings
2003 Advance from City Fds 1333.181 Interest Earnings
2004 Advance from City Fds 1609.521 Interest Earnings
2005 Advance from City Fds 12.111 Interest Earnings
TOTAL PROJECT $1,535,907.26
AMERICA'S RIVER PROJECT
2002-2022 G.O. Bond Issue 12-01
2002-2022 G.O. Bond Issue 1-02
2002-2022 Interest
2002-2022 Gaming Revenue-CIP
2003 Private Participation
2003 Advance from City Fds
2005 Advance from City Fds
2005 Advance from City Fds
2005 Advance from City Fds
2006 Advance from City Fds
2005-06 TIF Bonds - Principal
2005-06 TIF Bonds - Interest
TOTAL PROJECT
GRANO TOTAL
9,500,000.00
2,860,000.00
6,959,659.01
112,591,558.001
1672,375.001
855.66
1,966.80
49,889.00
248,096.10
255,037.00
0.00
0.00
$6,611,570.57
$8,147,477.83
Interest expo over life of bonds
Gaming Revenue to Abate Debt
County payment 1 st yr interest
Legal Expense
Legal Expense
Oevelopment Agreement -Platinum
Facility Management Agreement
payments for two years only
Actual Principal Paid from TIF
Actual Interest Paid from TIF
PROJECT DESIGNATION: GREATER DOWNTOWN URBAN RENEWAL PROJECT
(DOWNTOWN SUB AREAS: UPPER MAIN. TOWN CLOCK PLAZA. AND OLD MAIN)
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
PROJ
# PROJECT TITLE
SECURITY BUILDING
RENOVATION
2
TRILOG BUILDING
3
HOTEL PROJECT
4
DOWNTOWN LOAN
POOL.BLDG FACADES
5
ALLEYS I STREETS / CURB
RAMPS
6
MARKET STUDY
7
DOWNTOWN
TRAFFIC CIRCULATION
B
UNDERGROUND WIRES
FY
SOURCE
1983 Urban Renewal Bonds
1983 Urban Renewal Bonds
1983 Urban Renewal Bonds
TOTAL PROJECT
1990 Advance from City Fds.
1990 Advance from City Fds.
1990 Advance from City Fds.
TOTAL PROJECT
1991 108 Loan-HUD-8-14-90
1992 108 Loan-HUD-8-14-90
1992 108 Loan-HUD-8-14-90
1993 Advance from CDBG
TOTAL PROJECT
1994 Advance from City Fds
1995 Advance from City Fds
1996 Advance from City Fds
1998 Advance from City Fds
1999 Advance from City Fds
2000 Advance from City Fds
2001 Advance from City Fds
2002 Advance from City Fds
2003 Advance from City Fds
2004 Advance from City Fds
TOTAL PROJECT
1995 Advance from City Fds
1996 Advance from City Fds
1997 Advance from City Fds
TOTAL PROJECT
1995 Advance from City Fds
1996 Reimburse-Main St. Ltd.
TOTAL PROJECT
1996 Advance from City Fds
1997 Advance from City Fds
1998 Advance from City Fds
1999 Advance from City Fds
1999 Advance from City Fds
1999 Advance from City Fds
2000 Advance from City Fds
2005-21 G.O. Bonds
2005-21 G,O. Bonds.lnterest Exp
2001-04 TIF Bonds - Principal
2001 -04 TlF Bonds - Interest
TOTAL PROJECT
1997-98 Advance from City Fds
1999 Advance from City Fds
2000 Advance from City Fds
2000 Advance from City Fds
TOTAL PROJECT
AMOUNT
$360,000,00
205,787.48
132,478.001
$533,309.48
38,612,79
4,141,00
18,210.72
$60,964.51
$1,200,000.00
395,139.06
138,776.18)
58,000,00
$ 1,614,362.88
$260,000,00
387,000,00
200,000.00
568,000.00
365,000.00
100,000.00
100,000.00
100,000.00
90,000.00
25,000.00
$2,195,000.00
$153,165.65
17,133,01
18,643.35
$188,942.01
$29,600.00
14,600.00)
$25,000.00
$35,898.73
30,287.70
9,689.82
20,272.00
191,410,00
75,820.00
129,198.88
945,000.00
448,245,00
55,000,00
99,406.88
$2,040,229.01
$41,032,37
77,481.63
1,830.63
17,714.03
$ 1 38,058.66
USE OF DOLLARS
Principal
Interest
Capitalized Interest
Temporary Parking
Landscaping
Building Site Impr.
Principal
Interest
Interest Earnings
Easement Purchase
Addition to loan pool
Addition to loan pool
Addition to loan pool
Addition to loan pool
Addition to loan pool
Addition to loan pool
Addition to loan pool
Addition to loan pool
Addition to loan pool
Addition to loan pool
Construction costs
Construction costs
Construction costs
Consultant
Private Participation
Circulation Study
Circulation Study
Circulation Study
Signal Changes
8th St,Openlng Eng.
8th St. Opening Const.
8th St. Opening Const,
Main St Opening 5th - 9th
Main St Opening 5th - 9th
Actual Principal Paid
Actual Interest Paid
Construction Mangement
Wiring Contracts 120% of total cost)
Design
Construction-Wiring
City reimbursed 80% through Grant
PROJECT DESIGNATION: GREATER DOWNTOWN URBAN RENEWAL PROJECT
(DOWNTOWN SUB AREAS: UPPER MAIN. TOWN CLOCK PLAZA. AND OLD MAIN)
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
PROJ
# PROJECT TITLE
9
THOMPSON BUILDING
10
PARKING SYSTEM EXP.
11
MISCELLANEOUS TIF FD
REVENUES AND EXP,
FY
SOURCE
AMOUNT
$16,494.00
17,368.00
18.873.62
19,642.33
19,000.00 Est.
$91,377.95
$89.977.63
314,908.27
(1,975.001
12.310.00)
4.895.00
5,023,434.50
2,472.318.15
576,565.50
999,993.71
$9,477,807.76
1$27,418,67)
19.903,881
1915.591
12,112.32)
988,80
16.340.001
3,938.90
1236.451
1,109.79
1,966.79
1$38,922.631
USE OF DOLLARS
Economic Development Grant with
payments over 10 yrs @ $10,400/yr
to a maximum of $104.000
Appraisals, Land Acq., Demolition
Merchants & Dolans Demo. Related
Merchants
Merchants
Merchants/Dolans Sites
20 Yr GO Bonds sold for new 3rd Street Ramp
20 year Interest expense on GO Bonds
Actual Principal Paid
Actual Interest Paid
Interest Earnings
Interest Earnings
Interest Earnings
Property Tax-Sale Related
Legal Fees
Interest Earnings
Legal Fees
Interest Earnings
Legal Fees
50% Legal Fees
12 PRUDENTIAL PROJECT 2000 Advance from City Fds $1.500.00 10 years economic development
ICIGNA) 2003 Cigna Tax Payments-TiF 263,198.00 grant with no maximum
2004 Cigna Tax Payments-TIF 264.537.12
2005 Cigna Tax Payments-TIF 282,549.52 Est.
TOTAL PROJECT $811,784.64
13 COTTINGHAM & BUTLER 2004 TIF revenues generated $5,846.28 Historic Preservation Rebate program
2005 by project 20,358.00 Defined tax rebate program over 8 yrs
TOTAL PROJECT $26,204.28 January 1, 2001 base value = $58,850
January 1, 2002 value = $197.690
January 1. 2003 value ~ $747.180
14 8RICKTOWN 2003 TIF revenues generated Historic Preservation Rebate program
by project-- 1 st 4 years $63,188.00 Defined tax rebate program over B yrs
5th Year 80% 12.637.60 Increment value of $564,190
6th Year 60% 9,478.20
7th Year 40% 6,318,80
8th Year 20% 3,159.40
TOTAL PROJECT $94,782.00
15 HEARTLAND FINANCIAL 2003 TIF revenues generated $478,000.00 Est. Economic development rebate program
2001 TIF Funds
2003 TIF Funds
2003 TIF Funds
2004 TIF Funds
2005 TlF Funds
TOTAL PROJECT
1999 Advance from City Fds
2000 Advance from City Fds
2000 Rents and Concessions
2000 Property Tax Sale Rei
2001 Environmental Testing
2005-20 GO Bonds
2005-20 Interest Expense
2001-04 TlF Bonds - Principal
2001 -04 TIF Bonds - Interest
TOTAL PROJECT
1996
1997
1998
1999
1998
1999
1999/00
2001
2003
2005
Combining of TIF Districts
TOTAL PROJECT
PROJECT DESIGNATION: GREATER DOWNTOWN URBAN RENEWAL PROJECT
(DOWNTOWN SUB AREAS: UPPER MAIN. TOWN CLOCK PLAZA. AND OLD MAIN)
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
PROJ
# PROJECT TITLE
FY
SOURCE
AMOUNT
USE OF DOLLARS
by project over 10 yrs
TOTAL PROJECT
$478,000.00
over 10 years commencing with
12-1-04 TIF filing
16
KUNKEL.BRIGGS
(LOWER MAIN)
2004 TIF bonds--principal
2004 TIF bonds--interest
2005 Advance from City Fds
$182,000.00
111,816,66
3,284,97
$297,101.63
TiF bonds to be repaid over
10 years
Legal Fees
GRAND TOTAL FOR URBAN RENEWAL AREA
$18,034,002.18
Fiscal Year 2006
PROJECT DESIGNATION: GREATER DOWNTOWN URBAN RENEWAL PROJECT
(ICE HARBOR SUB AREAS A AND B)
Schedule 2
Tax Increment Reimbursement Received
Under Section 403.19(2)
Amount
Received
From Payments Cumulative
No. Year Received Under Section 403.19(2) Payments
FY 1994 $59,123.74 $ 59,123.74
2 FY 1995 $67,803.53 $126,927.27
3 FY 1996 $66,831.13 $193,758.40
4 FY 1997 $44,924.70 $238,683.10
5 FY 1998 $45,936.94 $284,620.04
6 FY 1999 $53,907.00 $338,527,04
7 FY 2000 $53,396.78 $391,923.82
8 FY 2001 $55,328.50 $447,252.32
9 FY 2002 $56,300.38 $503,552.70
10 FY 2003 $68,424.89 $571,977.59
11 FY 2004 $69,549.21 $641,526.80
12 FY 2005 (Estimate) $375,055.00 $1,016,581.80
Fiscal Year 2006
PROJECT DESIGNATION: GREATER DOWNTOWN URBAN RENEWAL PROJECT
(DOWNTOWN SUB AREAS - UPPER MAIN, TOWN CLOCK PLAZA, AND OLD MAIN)
Schedule 2
Tax Increment Reimbursement Received
Under Section 403.19(2)
Amount Received
Year from Payments Cumulative
No. Received Under Section 403.19(2) Payments
FY 1984 $ 39,458,09 $ 39,458.09
2 FY 1985 $ 87,008.45 $ 126,466.54
3 FY 1986 $ 80,940.29 $ 207,406.83
4 FY 1987 $ 84,949,07 $ 292,355.90
5 FY 1988 $ 75,413.12 $ 367,769.02
6 FY 1989 $106,025.23 $ 473,794.25
7 FY 1990 $ 42,587.45 $ 516,381.70
8 FY 1991 $ 86,756.67 $ 603,138.37
9 FY 1992 $359,904.69 $ 963,043.06
10 FY 1993 $361,625.38 $1,324,668.44
11 FY 1994 $660,614.07 $1,985,282.51
12 FY 1995 $634,279.91 $2,619,562.42
13 FY 1996 $409,680.44 $3,029,242.86
14 FY 1997 $279,723.01 $3,308,965.87
15 FY 1998 $ 8,040.60 $3,317,006.47
Fiscal Year 2006
16 FY 1999 $626,581.00 $3,943,587.4 7
17 FY 2000 $609,697.55 $4,553,285.02
18 FY 2001 $444,838.49 $4,998,123.51
19 FY 2002 $384,808.36 $5,382,931.87
20 FY 2003 $796,249.56 $6,179,181.43
21 FY 2004 $886,287.47 $7,065,468.90
22 FY 2005 (Estimate) $1,177,233.00 $8,242,701.90
Revised Fiscal Year 2005
PROJECT DESIGNATION: DUBUQUE KERPER BOULEVARD INDUSTRIAL SITE
ECONOMIC DEVELOPMENT DISTRICT
STATE OF IOWA )
)SS
COUNTY OF DUBUQUE)
Certificate of City Clerk of Dubuque, Iowa, to Dubuque County Auditor pursuant to the
Code of Iowa Section 403.19(2).
I certify that the City of Dubuque, Iowa, has issued and expended a total of
$6,995,826,31 as shown by the attached Schedule 1, derived from loans, advances,
indebtedness or bonds, principal and interest, issued or advanced in furtherance of the
urban renewal project designated "Kerper Boulevard Industrial Site Economic
Development District." I further certify that the City has heretofore received payments
into the special tax increment fund under Code of Iowa Section 403.19(2) applicable to
the aforesaid expenditures in the amount of $1 ,112,478.83, as shown by the attached
Schedule 2.
For Fiscal Year 2004-2005, the City requests that taxes be levied in the
maximum amount permitted by Section 403.19(2) and Ordinance No. 43-94 of the City
of Dubuque, Iowa, to be paid to the special fund under that section.
~/ /J /. /
Dated this. q¿J1'/L/ day of ~/~--t'/Í>/jí..¡¿;~/t/
.2004.
PROJECT DESIGNATION: KERPER BOULEVARD INDUSTRIAL PARK
ECONOMIC DEVELOPMENT DISTRICT
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
PROJ.
# PROJECT TITLE
FY
USE OF DOLLARS
KERPER IND. PARK DEV.
1997
1998
1999
1999
2000
2000
2000
2000
2000
2000
2000
2001
2001
2001
2001
2001
2002
2002
2002
2003
2003
2003
2003
2004
2004
2004
2004
2005
2005
2
EAGLE WINDOW IALLCI
2005-12
2005-12
2000-04
2000-04
2000
2000
2000
2002
2003
2004
SOURCE
Advance from City Funds
Advance from City Funds
Advance from City Funds
Advance from City Funds
Advance from City Funds
Advance from City Funds
Advance from City Funds
Advance from City Funds
Advance from City Funds
Advance from City Funds
Advance from City Funds
Advance from City Funds
Advance from City Funds
Advance from City Funds
Advance from City Funds
Advance from City Funds
State Grant Funds
Advance from City Funds
Advance from City Funds
Advance from City Funds
Advance from City Funds
Advance from City Funds
Advance from City Funds
Advance from City Funds
Advance from City Funds
Advance from City Funds
Advance from City Funds
Advance from City Funds
Advance from City Funds
TOTAL PROJECT
TIF Revenue Bond Issue-Principal
TIF Revenue Bond Issue-Interest
TIF Bonds. Principal
TIF Bonds - Interest
Proceeds to Pay Debt
Proceeds for Legal Fees
Legal Fees on Debt
State Grant Funds
Advance from City Funds
Advance from City Funds
TOTAL PROJECT
GRAND TOTAL
AMOUNT
$8,342.25
1,131,351.68
47,302.17
541,947,80
609,819.75
192,761
18.45
10,689.00
34,731,00
1,342.61
26,945.50
3,588.75
7,683,52
4,771.50
39,279.17
1590,111
1492,000.001
3,194.58
3,185.00
112,50
300.00
1,144.30
12,455.781
450.00
801.50
33,022,50
13,576.321
1497.451
56,094.61
$2,066,905.72
$2,738,559.62
1,179,434.24
429,978,44
1,024,886.35
1443,938.061
124,600.001
24,600,00
1692,000.001
313,061.00
378,939.00
$4,928,920.59
$6,995,826.31
EnvironmentalfTaxes
Env./Dredging
Legal, Engineering, Taxes
Construction/Grading
Construction/Grading
Investment Earnings
Postage
Property Tax
Consulting Engineers
Legal Services
Consultant Services
Consulting Engineers
Consultant Services
Miscellaneous Services
Construction
Investment Earnings
Iowa Dept. of Econ Dev. Grant
Consultant services-environmental
Misc.--appraisal expense
Consultant services-environmental
Mlsc.--appraisal expense
Construction
Investment Earnings
Legal Services
City Engineering Services
Construction
Investment Earnings
Investment Earnings
Construction
Principal
Interest
Principal Paid
Interest Paid
Bond Funds for first 18 months debt
Bond Proceeds for Legal Fees
Legal Fees
Iowa Dept, of Econ Dev, Grant
Construction
Construction
Revised Fiscal Year 2005
PROJECT DESIGNATION: DUBUQUE KERPER BOULEVARD INDUSTRIAL SITE
ECONOMIC DEVELOPMENT DISTRICT
Schedule 2
Tax Increment Reimbursement Received
Under Section 403.19(2)
Amount Received
from Payments Cumulative
No. Year Received Under Section 403.19(2) Payments
FY 1999 $0 $0
2 FY 2000 $10,196.28 $10,196.28
3 FY 2001 $0 $10,196.28
4 FY 2002 $31,121.11 $41,317.39
5 FY 2003 $533,071.36 $574,388.75
6 FY 2004 $538,090.08 1,112,478.83
7 FY 2005 (Estimate) $560,390.00 1,672,868.83
Fiscal Year 2006
PROJECT DESIGNATION: DUBUQUE KERPER BOULEVARD INDUSTRIAL SITE
ECONOMIC DEVELOPMENT DISTRICT
STATE OF IOWA )
)SS
COUNTY OF DUBUQUE)
Certificate of City Clerk of Dubuque, Iowa, to Dubuque County Auditor pursuant to the
Code of Iowa Section 403.19(2).
I certify that the City of Dubuque, Iowa, has issued and expended a total of
$6,995,826.31 as shown by the attached Schedule 1, derived from loans, advances,
indebtedness or bonds, principal and interest, issued or advanced in furtherance of the
urban renewal project designated "Kerper Boulevard Industrial Site Economic
Development District." I further certify that the City has heretofore received payments
into the special tax increment fund under Code of Iowa Section 403.19(2) applicable to
the aforesaid expenditures in the amount of $1 ,112,478.83, as shown by the attached
Schedule 2.
For Fiscal Year 2005-2006, the City requests that taxes be levied in the
maximum amount permitted by Section 403.19(2) and Ordinance No. 43-94 of the City
of Dubuque, Iowa, to be paid to the special fund under that section.
/7/1'/¿ ~ ..,/ /i /
Dated this,;/{/ day of .'.--(/-:;.¿;;(A::JÆ' (/
,2004.
PROJECT DESIGNATION: KERPER BOULEVARD INDUSTRIAL PARK
ECONOMIC DEVELOPMENT DISTRICT
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
PROJ.
# PROJECT TITLE
FY
USE OF DOLLARS
KERPER IND. PARK DEV.
1997
1998
1999
1999
2000
2000
2000
2000
2000
2000
2000
2001
2001
2001
2001
2001
2002
2002
2002
2003
2003
2003
2003
2004
2004
2004
2004
2005
2005
EAGLE WINDOW (ALLCI
2005-12
2005-12
2000-04
2000.04
2000
2000
2000
2002
2003
2004
SOURCE
Advance from City Funds
Advance from City Funds
Advance from City Funds
Advance from City Funds
Advance from City Funds
Advance from City Funds
Advance from City Funds
Advance from City Funds
Advance from City Funds
Advance from City Funds
Advance from City Funds
Advance from City Funds
Advance from City Funds
Advance from City Funds
Advance from City Funds
Advance from City Funds
State Grant Funds
Advance from City Funds
Advance from City Funds
Advance from City Funds
Advance from City Funds
Advance from City Funds
Advance from City Funds
Advance from City Funds
Advance from City Funds
Advance from City Funds
Advance from City Funds
Advance from City Funds
Advance from City Funds
TOTAL PROJECT
TIF Revenue Bond Issue.Principal
TIF Revenue Bond Issue-Interest
TIF Bonds - Principal
TIF Bonds - Interest
Proceeds to Pay Debt
Proceeds for Legal Fees
Legal Fees on Debt
State Grant Funds
Advance from City Funds
Advance from City Funds
TOTAL PROJECT
GRAND TOTAL
AMOUNT
$8,342.25
1,131,351.68
47,302,17
541,947.80
609,819.75
192.761
18.45
10,689.00
34,731.00
1,342,61
26,945.50
3,588.75
7,683.52
4,771.50
39,279.17
1590.11)
1492,000.001
3,194.58
3,185.00
112.50
300,00
1,144.30
(2,455.78)
450.00
801.50
33,022,50
13,576.321
1497.451
56,094,61
$2,066,905.72
$2,738,559.62
1,179,434,24
429,978.44
1,024,886.35
(443,938,061
124,600.001
24,600,00
1692,000.001
313,061.00
378,939.00
$4,928,920.59
$6,995,826,31
Environmental/Taxes
Env./Dredging
Legal, Engineering, Taxes
Construction/Grading
Construction/Grading
Investment Earnings
Postage
Property Tax
Consulting Engineers
Legal Services
Consultant Services
Consulting Engineers
Consultant Services
Miscellaneous Services
Construction
Investment Earnings
Iowa Dept, of Econ Dev. Grant
Consultant services.environmental
Misc.--appraisal expense
Consultant services-environmental
Misc,--appraisal expense
Construction
Investment Earnings
Legal Services
City Engineering Services
Construction
Investment Earnings
Investment Earnings
Construction
Principal
Interest
Principal Paid
Interest Paid
80nd Funds for first 18 months debt
80nd Proceeds for Legal Fees
Legal Fees
Iowa Dept. of Econ Dev. Grant
Construction
Construction
Fiscal Year 2006
PROJECT DESIGNATION: DUBUQUE KERPER BOULEVARD INDUSTRIAL SITE
ECONOMIC DEVELOPMENT DISTRICT
Schedule 2
Tax Increment Reimbursement Received
Under Section 403.19(2)
Amount Received
from Payments Cumulative
No. Year Received Under Section 403.19(2) Payments
FY 1999 $0 $0
2 FY 2000 $10,196.28 $10,196.28
3 FY 2001 $0 $10,196.28
4 FY 2002 $31,121.11 $ 41,317.39
5 FY 2003 $533,071.36 $574,388.75
6 FY 2004 $538,090.08 1,112,478.83
7 FY 2005 (Estimate) $560,390.00 1,672,868.83
Revised Fiscal Year 2005
DUBUQUE INDUSTRIAL CENTER/SOUTH
ECONOMIC DEVELOPMENT DISTRICT
STATE OF IOWA)
)SS
COUNTY OF DUBUQUE)
Certificate of City Clerk of Dubuque, Iowa, to Dubuque County Auditor pursuant to the
Code of Iowa Section 403.19(2).
I certify that the City of Dubuque, Iowa, has issued and expended a total of
$6,263,810.82 as shown by the attached Schedule 1. derived from loans, advances,
indebtedness or bonds, principal and interest, issued or advanced in furtherance of the
urban renewal project designated "Dubuque Industrial Center/South Economic
Development District". I further certify that the City has heretofore received payments into
the special tax increment fund under Code of Iowa Section 403.19(2) applicable to the
aforesaid expenditures in the amount of $707,123.33 as shown by the attached Schedule
2.
For Fiscal Year 2004-2005 the City requests that taxes be levied to the maximum
extent permitted by Section 403.19(2), to be paid into the special fund under that section.
Dated this 3tl/;£. day of /!!!--{d~~/C._//
,2004.
-'
/J
;a/,Z --z .-e/?
Ity Clerk
Dubuque, Iowa
\
dzeÁa~
PROJECT DESIGNATION: DUBUQUE INDUSTRIAL CENTERISOUTH
ECONOMIC DEVElOPMENT DISTRICT
Schedule 1
Indebtedness QuaUlying lor Tax Increment Reimbursement
Under Section 403,1 912}
PROJ.
# PROJECT TITLE
DUBUOUE TECH PARK
INDUSTRIAL CENTER
ON SITE IMPROVEMENTS
ADVANCED DATA COMM
HORIZON DUCARTE
ICARTEGRAPH}
1997
1997
1998
1998
1998
1998
1999
1999
1999
1999
1999
2000
2000
2000
2000
2000
2000
2001
2001
2001
2001
2002
2002
2002
2003
FY
SOURCE
Adv.nc, Imm City Fds
Advanos Imm CIt, Fds
Advanos Imm CIt, Fds
Adv,"c' "om City Fds
Adv.nc, Imm City Fds
Advanc' Imm City Fds
Advanos ',om City Fds
Adv.ncalmm City Fds
Advanc' 'mm City Fds
Adv.nc, Imm City Fds
Adv.nc, "om City Fds
Adv,"c, ',om City Fds
Advanca 'mm City Fds
Adv.nc, "om City Fds
Adv.nc, "om City Fds
Adv.nc, "om CIt, Fds
Adv.nc, ',om CIt, Fds
Adv.nc, "om City Fds
Adv.nc, "om CIt, Fds
Adv.nc, "om CIt, Fds
RISE G"nt
Adv.nc, "om CIt, Fds
Adv.nca "om City Fds
Adv.nca "om City Fds
Adv.nca ',om City Fds
TOTAL PROJECT
2005-2011 TIF R,vanua 80nds 3-1B-99
10 "" bond Issuo $900,000
Comp.n, min. ....ssm,nt
.g",m,nt to cov" d,bt
1999-2004 TIF 80nds - p,'nc'p.'
1999-2004 TIF 8onds - In",""
1999 L,g.IFsss
2000 Invsstm,nt E.mln9s
2001 Inva"m,nt E.mlngs
2002 Invsstmant E.mlngs
2003 Invsstmant E.mlngs
2004 Inv,"m,nl E.mlngs
2005 InvSSlmant E.mlngs
TOTAL PROJECT
2005-201 I TIF R,v,nu, Bonds 12-01 -99
10 yo" bond Issu, $360,000
w/mln. ...sssm,nt 'g,ssmant
10 cov" d,bt
2000-2004 TIF 80nds - p,'nc'p.'
2000-2004 TIF 80nds - In",""
2000 Lag.' Fsss
2000 Invsstm,nt E"nln9s
2001 Invsstmant E.mlngs
2002 Inv,"mant E.mlngs
2003 Inv,"m,nl E.mlngs
2004 Inv,"m,nl E.mlngs
2005 Invsstmanl E.mlngs
TOTAL PROJECT
ORAND TOTAL FOR URBAN RENEWAL AREA
AMOUNT
$96,379.03
76,256.03
206,768.06
313,740.55
1,991.229.77
11 ,883.08
16,672.92
29,862.07
1,360.48
3,262.03
1,1560476.53
48,677.44
12.76
2,820.23
20,000.00
69,193.22
1,010.74
17,616.36
3,852.72
8,162.49
1179,645.00)
16A72.00
4,77B.00
784,603.00
1,215.95
$4,70t,732A6
669,991.13
100,897.41
11 00,660.00)
165,260.00}
230,008.87
303,601.05
6,669.73
1100435.87)
19A31.46}
16.923.75)
(5,008.6"
(6,S44.80)
1I,273.66}
$1,104,350.13
271,851.13
570423.62
149,876.16)
131,680.00}
88,148.87
135,973.76
2,702.03
(2,771.76)
(4,982.25}
(3,618.43}
12A21.24}
12,649.94)
(471.40)
$467,728.24
$6,263,810.82
USE OF DOLLARS
Engln",'ng & Dsslgn ,"I."d
G"dlng Cont"ct
Con",ucllon & Dsslgn Engln,..lng
Ro.d ConStruction
O"dlng .nd Ulllltl05 Cont"CI
MI"all.naous
Engln,e,'ng .nd L,g.1 Se,vlces
Consul"nt Se<vlcss
Miscellaneous Se,vlm
Leg.' Se,vlces
Cons"uCllon
L.ndsc.,lng
Mlscall.neous
Leg.' Fess
P.yment to Othe' Ag'ncles
Con,"ucllon Cont'act
Services 'mm CED De,t
Leg.1 S..vlces
Con,,".nt Services
Cons"uO1lon
In",lo, Ro.ds
Leg.' Se,vlces
Legal Se,vlces
Cons"uO1lon
L'g.1 Se,vlces
P,lncl,.1
'"tere"
Dabt Se,vlc, Re..,ve Fd
80nd Funds '0' ,., 18 months debt
Actu.1 P.ld to D"e
Aclu.1 P.ld to D"e
Leg.' Fees
Inte'e" E.mlngs-Fd 124 ADC
Inte'e" E.mlngs-Fd 124 ADC
In","" E"nlngs-Fd 124 ADC
Inte,e" E"nlngs.Fd 124 ADC
Inte,e" E.mlngs-Fd 124 ADC
In",e" E.mlngs-Fd 124 ADC
P,I"cl,.1
Inte,e"
Debt Se,vlce Re..,ve Fd
Bond Funds 10' ,., 18 months debt
Ac,",1 P.,d to D"e
Ac,",1 P.,d to D"e
Legal Fees
Inte,e" E.mlngs-Fd 128-C.neg"ph IDuc.ne)
Inte,e" E.mlngs-Fd I 28-C.neg,eph IDuc"te)
Inte,," E"nlngs-Fd 128-C.neg",h IDuc"te)
Inte,e" E.mlngs-Fd 128-C.neg",h (Duc"te)
Inte,e" E.mlngs-Fd 128-Caneg",h (Duc.ne)
Inte,e" E.mlngs-Fd 128-C"teg"ph (Duc.ne)
Number
2
3
4
5
6
7
Revised Fiscal Year 2005
PROJECT DESIGNATION: DUBUQUE INDUSTRIAL CENTER/SOUTH
ECONOMIC DEVELOPMENT DISTRICT
Schedule 2
Tax Increment Reimbursement Record
Under Section 403.19(2)
Year
Received
Amounts Received
from Payments under
Section 403.12(2)
FY 1999
$
FY 2000 $
Adv. Data Comm. $
FY 2001 Req.
Adv. Data Comm. $
Cartegraph $
.00
.00
FY 2002
Adv. Data Comm. $152,835.64
Cartegraph $ 63,934.72
FY 2003.
Adv. Data Comm. $178,305.63
Cartegraph $ 72,868.78
FY 2004
Adv. Data Comm. $178,230.77
Cartegraph $ 60,947,79
FY 2005 (Estimates)
Adv. Data Comm. $196,385,00
Cartegraph $ 65,046.00
0
0
0
Cumulative
Payments
$
$
$
0
0
0
$
$
0.00
0.00
$152,835.64
$ 63,934.72
$331,141.27
$136,803.50
$509,372.04
$197,751.29
$705,757.04
$262,797.29
Fiscal Year 2006
DUBUQUE INDUSTRIAL CENTER/SOUTH
ECONOMIC DEVELOPMENT DISTRICT
STATE OF IOWA)
)SS
COUNTY OF DUBUQUE)
Certificate of City Clerk of Dubuque, Iowa, to Dubuque County Auditor pursuant to the
Code of Iowa Section 403.19(2).
I certify that the City of Dubuque, Iowa, has issued and expended a total of
$6,263,810.82 as shown by the attached Schedule 1, derived from loans, advances,
indebtedness or bonds, principal and interest, issued or advanced in furtherance of the
urban renewal project designated "Dubuque Industrial Center/South Economic
Development District". I further certify that the City has heretofore received payments into
the special tax increment fund under Code of Iowa Section 403.19(2) applicable to the
aforesaid expenditures in the amount of $707,123.33 as shown by the attached Schedule
2.
For Fiscal Year 2005-2006 the City requests that taxes be levied to the maximum
extent permitted by Section 403.19(2), to be paid into the special fund under that section.
Dated this "?/~ day of Æa¿ø{£/J
,2004,
PROJECT DESIGNATION: DUBUQUE INOUSTRIAL CENTERISOUTH
ECONOMIC OEVELOPMENT DISTRICT
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursemanl
Under Seclion 403,19121
PROJ,
# PROJECT TITLE
DUBUOUE TECH PARK
INDUSTRIAL CENTER
ON SITE IMPROVEMENTS
ADVANCED DATA COMM
HORIZON DUCARTE
(CARTEGRAPH)
FY
SOURCE
1997
1997
199B
199B
1998
1998
1999
1999
1999
1999
1999
2DDD
2DOO
2000
2000
2000
2000
2001
2001
2001
2001
2002
2002
2002
2003
Advance Iwm Citv Fd,
Advance "om City Fd,
Advance "om Citv Fd,
Advance Iwm Citv Fd,
Advance "om Cit, Fd,
Adva",e Iwm City Fd,
Advance from City Fd,
Advance from City Fd,
Advance "om City Fd,
Advance "om Cltv Fd,
Advance "om City Fd,
Advance Iwm Citv Fd,
Advance "om City Fd,
Advance "om City Fd,
Advance "om Cit, Fd,
Advance "om Citv Fd,
Advan" "om Citv Fd,
Advance Iwm City Fd,
Advance "om City Fd,
Adv,"ce fwm Citv Fd,
RISE G,"nt
Advan" Iwm City Fd,
Advance I'om Citv Fd,
Advance Iwm Citv Fd,
Adva",e Iwm Cltv Fd,
TOTAL PROJECT
2005-2011 TIF Revenoe Bond, 3-18-99
10 ,e", bond i"oe $900,000
Company min. ."."ment
ag,eement to cove, debt
1999-2004 TIF 80nd, - P,lncipal
1999-2004 TIF Bond, - Inte'e"
1999 LegalFee,
2000 Inve'tment Earning,
2001 Inve"ment Earning,
2002 Inve"ment Earning,
2003' Inve"ment Earning,
2004 Inve"ment Earning,
2005 Inve"ment Earning,
TOTAL PROJECT
2005-2011 TIF Revenoe Bond, 12-01 -99
10 ve", bond '"oe $360,000
wlmin. a"e"ment ag'eement
to cove, debt
2000-2004 TIF Bond, - P"ncipal
2000-2004 TIF Bond, - Inte,e"
2000 Legal Fee,
2000 Inve"ment E",ning,
2001 Inve"ment E",ning'
2002 Inve"ment E",ning,
2003 Inve"menl E",ning,
2004 Inmtment E",nlng,
2005 Inmtment Earning,
TOTAL PRDJECT
GRAND TOTAL FOR URBAN RENEWAL AREA
AMOUNT
$95,379.03
76,256.03
206,758.06
313,740.65
',99',229.77
" ,883.08
16,572.92
29,862.07
1,350.48
3,252.03
1,156,476.53
48,677.44
12.76
2,820.23
20,000.00
69,193.22
1,010.74
17,618.35
3.852.72
8,162.49
1179,646.00)
16,472.00
4,778.00
784,803.00
1,215.95
$4,701,732.45
669,991.13
100,897.41
1100,650.00)
165,250.00)
230,008.87
303,601.05
5,669.73
110.435.87)
(9.431.46)
16,923.75)
16,008.62)
16,844.80)
11,273.56)
$1,104,350.13
271,861.13
67,423.62
(49,876.16)
131.680.00)
88,148.87
135,973.76
2,702.03
12,771.75)
14,982.25)
13,5tB.43)
12,421.24)
(2,649.94)
(471.40)
$457,72S.24
$6,263,Bl0.B2
USE OF DOLLARS
Enginee,ing & De,ign ,eleted
G,"ding Cont'"ct
Con","c"on & D"ign Engineering
Road Con",oction
G,"ding and Utllitie, Cont,act
MI"ellaneooa
Enginee,ing and Legal S",vice'
Con,,"ant Se,vice,
Mi"ellaneooa Se'vim
Legal Se,vice'
Con","c"on
Land,caping
Mi"ellaneooa
Legal Fee,
Pavmentto Othe, Agend"
Con"","on Cont'"ct
SeNice, "om CED Oept
Legal Se,vice,
Con"ltent Se,vice'
Con"","on
Inte,io, Road,
Legal Se,vice,
Legal S"vi",
Con","ction
Legal Se,vice,
P'inclpal
lot"e"
Debt S",vice R.,.,ve Fd
Bond Fond, 1m '" lB month, debt
Act",1 Paid to Date
Act",1 Paid to Date
Legal Fee,
Inte,e" Eaming,-Fd 124 ADC
Inte,e" Eaming,-Fd 124 ADC
Inte.." Eaming,-Fd 124 ADC
lote'e" Eaming,-Fd 124 ADC
lote'e" Eaming,-Fd 124 ADC
Inte.." Eaming,-Fd 124 ADC
P,'ncipal
lote,e"
Debt Se,vice Re,e've Fd
BondFond'lo,""Bmonth,debt
Act",1 Paid to Date
AcMI Paid to Date
Legal Fee,
Inte"" Eaming,-Fd 12B-Ca~eg"ph 100ca"e)
Into"" Eaming,-Fd 12B-Ca~eg,"ph ID"a~e)
Int""t Eaming,-Fd 1 2B-Ca~eg,"ph (D"a~e)
Inte,"t Eaming,-Fd 1 2B-Ca~eg"ph (D"",te)
Inte"" Eaming,-Fd 1 2B-Ca~eg,"ph (D,,",te)
Inte'e" Eaming,-Fd 12B-C",teg,"ph IDoca,te)