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Acquistion of Property from W.C. Stewart and Stew-Mc Development, Inc.
Masterpiece on the Mississippi Dubuque knerd All-America City hill! 2007 TO: The Honorable Mayor and City Council Members FROM: Michael C. Van Milligen, City Manager SUBJECT: Acquisition of Two Parcels of Property from Stewart Construction DATE: December 14, 2011 W.C. Stewart approached the City about the possible donation of 12.93 acres of property located in a water way south of Target and Center Grove Drive. This land has been appraised at $425,000, but he is willing to give it to the City if the City pays the current property taxes estimated at $1,963. The City has no identified use for this property, so City staff proposed to Mr. Stewart that the City would consider accepting this donation if, at the same time, the City could acquire a .41 acre site on the edge of the Millwork District. This parcel of property is east of Elm Street between 11th and 12th Streets. After negotiations, Stewart agreed to sell this parcel for $185,000 with the understanding that he can continue to use the property for at least 6 months at no cost to him. After this 6 month time frame, the City would need to provide a 30 day notice of an intent to utilize this site. Stewart currently uses this site to store construction equipment. If acquired, this parcel would provide additional flexibility to the City for the Intermodal Center. The property could be used for additional parking and /or a bus storage facility if funding becomes available for Phase II of the Intermodal Center. Economic Development Director Dave Heiar recommends acceptance of the deeds for 12.93 acres from W.C. Stewart and approving the purchase of .41 acres from Stew -Mc Development, Inc. for the purchase price of $185,000. City funds are available for this purchase from industrial park land sales and a future amendment to the Downtown Urban Renewal District. This source will be reimbursed from Tax Increment Financing funds. I concur with the recommendation and respectfully request Mayor and City Council approval. litil P'-217045, Michael C. Van Milligen MCVM:jh Attachment cc: Barry Lindahl, City Attorney Cindy Steinhauser, Assistant City Manager David J. Heiar, Economic Development Director 2 Masterpiece on the Mississippi Dubuque knetril All- America City 2007 TO: Michael Van Milligen, City Manager FROM: David J. Heiar, Economic Development Director SUBJECT: Acquisition of two parcels of property from Stewart Construction DATE: December 12, 2011 PURPOSE The intent of this memorandum is to request that the City Council acquire two parcels of property from Stew -Mc Development, Inc. and W.C. Stewart. BACKGROUND /DISCUSSION W.C. Stewart approached the City about the possible donation of 12.93 acres of property located in a water way south of Target and Center Grove Drive (see attached map). This land has been appraised at $425,000, but he is willing to give it to the City if we pay the current property taxes estimated at $1,963 City staff has proposed to Stewart that the City would consider accepting this donation if, at the same time, the City could acquire a .41 acre site on the edge of the Millwork District. This parcel of property is east of Elm Street and between 11th and 12th Streets (see attached map). After negotiations, Stewart agreed to sell this parcel for $185,000 with the understanding that he can continue to use the property for at least 6 months at no cost to him. After this 6 month time frame, the City would need to provide a 30 day notice of our intent to utilize this site. Stewart currently uses this site to store construction equipment. If acquired, this parcel would provide additional flexibility to the City for the Intermodal Center. The property could be used for additional parking and /or a bus storage facility if funding becomes available for Phase ll of the Intermodal Center. BUDGET IMPACT The Budget Director is recommending that land sales from this Dubuque Industrial Center West be used to acquire this property. Following amendments to the Greater Downtown Urban Renewal District, it is the City's intent to reimburse the purchase price to the general fund from the increment in the Downtown Urban Renewal District. RECOMMENDATION/ ACTION STEP I recommend the City Council adopt the attached resolutions to accept the deeds for 12.93 acres from W.C. Stewart and approving the purchase of .41 acres from Stew -Mc Development Inc. for the purchase price of $185,000. F \USERS \Econ Dev \Stewart Properties \20111212 Acquisition of Stewart Properties Agenda Item doc Prepared by Barry A. Lindahl 300 Main Street Suite 330 Dubuque IA 52001 563 583 -4113 RESOLUTION NO. 438 -11 ACCEPTING THE DEED TO CERTAIN REAL ESTATE IN DUBUQUE COUNTY, IOWA FROM W.C. STEWART CONSTRUCTION, INC. WHEREAS, W.C. STEWART CONSTRUCTION, INC. has offered to donate to the City of Dubuque the following described real property in Dubuque County, Iowa: Lots 1 and 2 of LLOYD'S SUBDIVISION; Lots 77 and 78, in CENTER GROVE (also known as CENTRE GROVE); Lot 1 of Lot 1 of Lot 1 of Lot 1 of Lot 1 of Lot 1 of Lot 1 of Lot 1 of MINERAL LOT 232; Lot 2 of Lot 1 of Lot 1 of MINERAL LOT 233; Lot 2 of Lot 1 of Lot 2 of MINERAL LOT 233; in the City of Dubuque, Iowa, according to the respective Plats thereof. AND WHEREAS, the City Council finds that it is in the best interest of the City to accept such gift from W.C. STEWART CONSTRUCTION, INC. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DUBUQUE, IOWA, AS FOLLOWS: 1. The City of Dubuque hereby accepts the Warranty Deed from W.C. STEWART CONSTRUCTION, INC. attached hereto. 2. The City Clerk is hereby authorized and directed to record this Resolution and the Warranty Deed with the Dubuque County Recorder. Passed, approved and adopted this 19th day of December , 2011. Attest: "" Kevi S. Firnstahl, City Clerk Lynn Sutton, Mayor Pro -Tern F: \USERS \tsteckle \Lindahl \Stewart Construction -12th Street- CrescentRdg \Closing Docs\ ResolutionAcceptingRealEstate _StewartConstruction_121311.doc Warranty Deed (Corporate/Business Entity Grantor) THE IOWA STATE BAR ASSOCIATION Official Form #335 Recorder's Cover Sheet 11151111111111111111111111 1 Doc ID 007254510004 Type: GEN Kind: DEED WITH RESOLUTION Recorded: 01/05/2012 at 03:59:37 PM Fee Amt: $42.00 Page 1 of 4 Revenue Tax: $0.00 Dubuque County Iowa Kathy Flynn Thurlow Recorder Fi1e2012- 00000356 Preparer Information: (Name, address and phone number) Brian J. Kane, 2100 Asbury Road, Ste. 2, Dubuque, IA 52001, Phone: (563) 582 -7980 Taxpayer Information: (Name and complete address) City of Dubuque 300 Main Street Dubuque, IA 52001 Return Document To: (Name and complete address) City of Dubuque 300 Main Street Dubuque, IA 52001 Grantors: Grantees: W. C. Stewart Construction, Inc. City of Dubuque, Iowa Legal description: See Page 2 Document or instrument number of previously recorded documents: © The Iowa State Bar Association 2005 IOWADOCS® 20ao 2200 (Y0 City Clerk i1111umixi1mm11111iNmiNaim11111i1111w1i Doc ID 007254520002 Type: GWH Kind: GROUNDWATER HAZARD Recorded: Fee Amt: $0.005Page21aof02:59:48 PM Dubuque County Iowa Kathy Flynn Thurlow Recorder F11e2012- 00000039 REAL ESTATE TRANSFER - GROUNDWATER HAZARD STATEMENT TO BE COMPLETED BY TRANSFEROR TRANSFEROR: Name W.C. Stewart Construction, Inc. Address 221 E 8th Street, Dubuque, IA 52001 Number and Street or RR City, Town or P.O. State Zip TRANSFEREE: Name City of Dubuque, Iowa Address 300 Main Street, Dubuque, IA 52001 Number and Street or RR City, Town or P.U. State Lip Address of Property Transferred: Crescent Rdg Number and Street or RR City, Town, or P.O. State Zip Legal Description of Property: (Attach if necessary) Lots 1 and 2 of LLOYD'S SUBDIVISION; Lots 77 and 78, in CENTER GROVE (also known as CENTRE GROVE); Lot 1 of lot 1 of lot 1 of lot 1 of lot 1 of lot 1 of lot 1 of lot 1 of MINERAL LOT 232; Lot 2 of lot 1 of lot 1 of MINERAL LOT 233; Lot 2 of lot 1 of lot 2 of MINERAL LOT 233; in the City of Dubuque, Iowa, according to the respective Plats thereof. 1. Wells (check one) X There are no known wells situated on this property. _ There is .a well or wells situated on this property. The type(s), location(s) and legal status are stated below or set forth on an attached separate sheet, as necessary. 2. Solid Waste Disposal (check one) X There is no known solid waste disposal site on this property. _ There is a solid waste disposal site on this property and information related thereto is provided in Attachment #1, attached to this document. 3. Hazardous Wastes (check one) X There is no known hazardous waste on this property. _ There is hazardous waste on this property and information related thereto is provided in Attachment #1, attached to this document. 4. Underground Storage Tanks (check one) X There are no known underground storage tanks on this property. (Note exclusions such as small farm and residential motor fuel tanks, most heating oil tanks, cisterns and septic tanks, in instructions.) There is an underground storage tank on this property. The type(s), size(s) and any known substance(s) contained are listed below or on an attached separate sheet, as necessary. FILE WITH RECORDER DNR form 542 -0960 (Sept. 1, 2010) &o -55 Prepared by Barry A. Lindahl 300 Main Street Suite 330 Dubuque IA 52001 563 583 -4113 RESOLUTION NO. 439 -11 ACCEPTING THE DEED TO CERTAIN REAL ESTATE IN DUBUQUE COUNTY, IOWA FROM STEW -MC DEVELOPMENT, INC. WHEREAS, the City of Dubuque entered into an Agreement with STEW -MC DEVELOPMENT, INC. for the purchase of the following described real property in Dubuque County, Iowa: The East One Fourth of City Lot 500 in the City of Dubuque, Iowa, according to the United States Commissioners' Map of the City of Dubuque, Iowa, except that part sold to the State of Iowa, subject to easements of record (the Real Estate) AND WHEREAS, the terms of the Agreement have now been met. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DUBUQUE, IOWA, AS FOLLOWS: 1. The City of Dubuque hereby accepts the Warranty Deed from STEW -MC DEVELOPMENT, INC. attached hereto. 2. The City Clerk is hereby authorized and directed to record this Resolution and the Warranty Deed with the Dubuque County Recorder. Passed, approved and adopted this 19th day of December , 2011. Attest: Kevi . Firnstahl, ity erk -7t Lynn Sutton, Mayor Pro -Tern F: \USERS \tsteckle \Lindahl \Stewart Construction -12th Street- CrescentRdg \Closing Docs\ ResolutionAcceptingRealEstate _StewMcDevelopment_111411.doc II!IIIIIIIIIIIII/II///JI//I/!I/!/IJII!////I/!I/I//II/IIihjIihI//I!!/ih/!//jI/ Doc ID: 007254530004 Type: GEN Kind: D d: DEED WITH RESOLUTION Fee Ad: 01/05/2012 at 04:02 :54 PM Revenue Tax 22'20 Page 1 of 4 Dubuque Count Iowa y Y owa Kathy Flynn Thurlow Recorder File20 2_00000357 STi Warranty Deed r� (Corporate/Business Entity Grantor) • THE IOWA STATE BAR ASSOCIATION Official Form #335 )(IA: 0° Recorder's Cover Sheet Preparer Information: (Name, address and phone number) Brian J. Kane, 2100 Asbury Road, Ste. 2, Dubuque, IA 52001, Phone: (563) 582 -7980 Taxpayer Information: (Name and complete address) City of Dubuque 300 Main Street Dubuque, IA 52001 Return Document To: (Name and complete address) City of Dubuque 300 Main Street Dubuque, IA 52001 Grantors: STEW -MC DEVELOPMENT, INC. Grantees: City of Dubuque, Iowa, a municipal corporation Legal description: See Page 2 Document or instrument number of previously recorded documents: ©.The Iowa Slate Bar Association 2005 IOWADOCSO 500 22 °o City Clerk IIII/II!IIII/I!/!II/IIIIllh!IIIIIIII!II!III!IIIII!III!IllhI!!!iiii!ii/iiiiii!iii ii hill iiii iiii Doc ID: 007254540002 Type: GWH Recorded: 01/05/2012 ZatD04:03:11 PM Fee Amt: $0.00 Page 1 of 2 Kathy uFlynnnThurlow Recorder F11e2 0 1 2- 0000004 0 REAL ESTATE TRANSFER - GROUNDWATER HAZARD STATEMENT TO BE COMPLETED BY TRANSFEROR TRANSFEROR: Name STEW -MC DEVELOPMENT, INC. Address 19650 Route 20 West, East Dubuque, IL 61025 Number and Street or RR City, Town or P.O. State Zip TRANSFEREE: Name City of Dubuque, Iowa Address 300 Main Street, Dubuque, IA 52001 Number and Street or kk City, I own or P.O. State Lip Address of Property Transferred: 460 E 12th Street, Dubuque, IA 52001 Number and Street or kk City, Town, or P.O. State Zip Legal Description of Property: (Attach if necessary) The East One Fourth of City Lot 500 in the City of Dubuque, Iowa, according to the United States Commissioners' Map of the City of Dubuque, Iowa, except that part thereof sold to the State of Iowa, subject to easements of record. 1. Wells (check one) X There are no known wells situated on this property. _ There is a well or wells situated on this property. The type(s), location(s) and legal status are stated below or set forth on an attached separate sheet, as necessary. 2. Solid Waste Disposal (check one) X There is no known solid waste disposal site on this property. _ There is a solid waste disposal site on this property and information related thereto is provided in Attachment #1, attached to this document. 3. Hazardous Wastes (check one) X There is no known hazardous waste on this property. _ There is hazardous waste on this property and information related thereto is provided in Attachment #1, attached to this document. 4. Underground Storage Tanks (check one) X There are no known underground storage tanks on this property. (Note exclusions such as small farm and residential motor fuel tanks, most heating oil tanks, cisterns and septic tanks, in instructions.) _ There is an underground storage tank on this property. The type(s), size(s) and any known substance(s) contained are listed below or on an attached separate sheet, as necessary. FILE WITH RECORDER DNR form 542 -0960 (Sept. 1, 2010) OFFER TO BUY REAL ESTATE AND ACCEPTANCE TO: Stew -Mc Development, Inc., Seller: SECTION 1. REAL ESTATE DESCRIPTION. The City of Dubuque, Iowa (Buyer) offers to buy real estate in Dubuque County, Iowa, described as follows: The East One Fourth of City Lot 500 in the City of Dubuque, Iowa, according to the United States Commissioners' Map of the City of Dubuque, Iowa, except that part sold to the State of Iowa, subject to easements of record (the Real Estate) legal description to be confirmed per continued abstract per Section 10, with any easements and appurtenant servient estates, but subject to the following: a. any zoning and other ordinances; b. any covenants of record; c. any easements of record for public utilities, roads and highways designated the Real Estate. SECTION 2. PRICE. The purchase price shall be $185,000.00, payable to Seller in cash at closing. SECTION 3. REAL ESTATE TAXES. Seller shall pay any unpaid real estate taxes payable for fiscal year 2010 -2011 and prior years. Seller shall also pay real estate taxes for fiscal year 2011 -2012 prorated to the date of closing. Buyer shall pay all subsequent real estate taxes. Any proration of real estate taxes on the Real Estate shall be based upon such taxes for the year currently payable unless the parties state otherwise. SECTION 4. SPECIAL ASSESSMENTS. Seller shall pay all special assessments, if any, which are a lien as of the date of closing, prorated to the date of closing. SECTION 5. RISK OF LOSS AND INSURANCE. Sellers shall bear the risk of Toss or damage to the Real Estate prior to closing or possession, whichever first occurs. Sellers agree to maintain existing insurance and Buyer may purchase additional insurance. In the event of substantial damage or destruction prior to closing, this Agreement shall be null and void; provided, however, Buyer shall have the option to complete the closing and receive insurance proceeds regardless of the extent of damages. The Real Estate shall be deemed substantially damaged or destroyed if it cannot be restored to its present condition on or before the closing date. SECTION 6. CARE AND MAINTENANCE. Subject to Section 18, the Real Estate shall be preserved in its present condition and delivered intact at the time possession is delivered to Buyer, provided, however, if there is loss or destruction of all or any part of the Real Estate from causes covered by the insurance maintained by Seller, Buyer agree to accept such damaged or destroyed Real Estate together with such insurance proceeds in lieu of the Real Estate in its present condition and Seller shall not be required to repair or replace same. 121311ba1 SECTION 7. POSSESSION. If Buyer timely performs all obligations, possession of the Real Estate shall be delivered to Buyer on or before December 31, 2011, or such other date as the parties may agree in writing with any adjustments of rent, insurance, and interest to be made as of the date of transfer of possession. SECTION 8. FIXTURES. All property that integrally belongs to or is part of the building on the Real Estate, whether attached or detached, such as Tight fixtures, shades, rods, blinds, awnings, windows, storm doors, screens, plumbing fixtures, water heaters, water softeners, automatic heating equipment, air conditioning equipment, wall to wall carpeting, built -in items and electrical service cable, outside television towers and antenna, fencing, gates and landscaping shall be considered a part of Real Estate and included in the sale. SECTION 9. USE OF PURCHASE PRICE. At time of settlement, funds of the purchase price may be used to pay taxes and other liens and to acquire outstanding interests, if any, of others. SECTION 10. ABSTRACT AND TITLE. Seller, at its expense, shall promptly obtain an abstract of title to the Real Estate continued through the date of acceptance of this offer, and deliver it to Buyer for examination. It shall show merchantable title in Seller in conformity with this agreement, Iowa law and Title Standards of the Iowa State Bar Association. The abstract shall become the property of the Buyer when the purchase price is paid in full. Seller shall pay the costs of any additional abstracting and title work due to any act or omission of Seller, including transfers by or the death of Seller or its assignees. SECTION 11. DEED. Upon payment of the purchase price, Seller shall convey the Real Estate to Buyer, by Warranty Deed, free and clear of all liens, restrictions, and encumbrances except as provided in 1 a. through 1 c. Any general warranties of title shall extend only to the time of acceptance of this offer, with special warranties as to acts of Seller continuing up to time of delivery of the deed. SECTION 12. TIME IS OF THE ESSENCE. Time is of the essence in this contract. SECTION 13. REMEDIES OF THE PARTIES 13.1 If Buyer fails to timely perform this contract, Seller may forfeit it as provided in the Iowa Code, and all payments made shall be forfeited or, at Seller's option, upon thirty days written notice of intention to accelerate the payment of the entire balance because of such failure (during which thirty days such failure is not corrected) Seller may declare the entire balance immediately due and payable. Thereafter this contract may be foreclosed in equity and the Court may appoint a receiver. 13.2 If Seller fails to timely perform this contract, Buyer has the right to have all payments made returned to it. 2 13.3 Buyer and Seller also are entitled to utilize any and all other remedies or actions at law or in equity available to them and shall be entitled to obtain judgment for costs and attorney fees as permitted by law. SECTION 14. CONTRACT BINDING ON SUCCESSORS IN INTEREST. This contract shall apply to and bind the successors in interest of the parties. SECTION 15. CONSTRUCTION. Words and phrases shall be construed as in the singular or plural number, and as masculine, feminine or neuter gender, according to the context. SECTION 16. TIME FOR ACCEPTANCE. If this offer is not accepted by Seller on or before December 19, 2011, it shall become void and all payments shall be repaid to the Buyer. SECTION 17. OTHER PROVISIONS. 17.1 This Offer is subject to W.C. Stewart Construction, Inc., delivering to Buyer at the time of closing a Warranty Deed for no consideration and with donative intent to the following described real estate (the Donated Real Estate), free and clear of all liens, restrictions, and encumbrances: Lots 1 and 2 of LLOYD'S SUBDIVISION; Lots 77 and 78, in CENTER GROVE (also known as CENTRE GROVE); Lot 1 of Lot 1 of Lot 1 of Lot 1 of Lot 1 of Lot 1 of Lot 1 of Lot 1 of MINERAL LOT 232; Lot 2 of Lot 1 of Lot 1 of MINERAL LOT 233; Lot 2 of Lot 1 of Lot 2 of MINERAL LOT 233; in the City of Dubuque, Iowa, according to the respective Plats thereof. Buyer, at its expense, shall promptly obtain an abstract of title to the Donated Real Estate continued through the date of acceptance of this offer. It shall show merchantable title in Seller in conformity with this agreement, Iowa law and Title Standards of the Iowa State Bar Association. The abstract shall become the property of the Buyer. Seller shall pay the costs of any additional abstracting and title work due to any act or omission of Seller, including transfers by or the death of Seller or its assignees. Buyer shall pay any unpaid real estate taxes payable for fiscal year 2010 -2011 and prior years. Buyer shall also pay real estate taxes for fiscal year 2011 -2012 . Buyer shall pay all subsequent real estate taxes. 17.2 The Offer is subject to final approval of the City Council of the City of Dubuque, Iowa in its sole discretion. 17.3 Buyer, its counsel, accountants, agents and other representatives, shall have full and continuing access to the Real Estate and the Donated Real Estate and all parts thereof, upon reasonable notice to Seller for the purpose of inspecting, surveying, engineering, test boring, performance of environmental tests and such other work as 3 Buyer shall consider appropriate, provided that Buyer shall hold Seller harmless and fully indemnify Seller against any damage, claim, liability or cause of action arising from or caused by the actions of Buyer, its agents, or representatives upon the Real Estate or the Donated Real Estate (except for any damage, claim, liability or cause of action arising from conditions existing prior to any such entry upon the Real Estate), and shall have the further right to make such inquiries of governmental agencies and utility companies, etc. and to make such feasibility studies and analyses as Buyer considers appropriate. 17.4 Seller warrants that at the rights of all tenants shall be terminated by Seller prior to closing and that there will be no tenants whose rights in the Real Estate or the Donated Real Estate survive the closing. This covenant shall survive the closing. 17.5 Until ten (10) days prior to closing, Buyer shall have the right to terminate this agreement if environmental issues exist on the Real Estate or the Donated Real Estate that Buyer determines in its sole discretion do not permit Buyer to use the Real Estate or the Donated Real Estate for their intended use. Prior to terminating this Agreement pursuant to this section, Buyer shall offer Seller the opportunity to remediate the Real Estate or the Donated Real Estate to the satisfaction of Buyer in its sole discretion and at Seller's sole cost. 17.6 Seller may continue to use the Real Estate until June 30, 2012 for no rent. Seller shall provide Buyer with evidence of general liability insurance acceptable to Buyer insuring Seller's use of the Real Estate during such time as Seller is occupying the Real Estate. THIS OFFER IS ACCEPTED Dated: December 20, 2011 Dated: 1d /0%200 CITY OF DUBUQUE, IOWA STEW -MC DEVELOPMENT, INC. BUYER SELLER By: Michael C. Van Milligen City Manager 4 By: W.C. STEW RT CONSTRUCTION, INC., B Form 8283 (Rev. December 2006) ► Attach to your tax return if you claimed a total deduction of over $500 for all contributed property. Attachment Department of the Treasury Sequence No. 55 Internal Revenue Service ► See separate instructions. Name(s) shown on your income tax retum Identifying number W.C. Stewart Construction Inc 36- 2980244 Note. Figure the amount of your contribution deduction before completing this form. See your tax return instructions. Section A. Donated Property of $5,000 or Less and Certain Publicly Traded Securities —List in this section only items (or groups of similar items) for which you claimed a deduction of $5,000 or Tess. Also, list certain publicly traded securities even if the deduction is more than $5,000 (see instructions). Information on Donated Property —If you need more space, attach a statement. Noncash Charitable Contributions OMB No. 1545 -0908 Part 1 A B (a) Name and address of the donee organization (b) Description of donated property (For a donated vehicle, enter the year, make, model, condition, and mileage, and attach Form 1098 -C if required.) c D E on for an item is $500 or less, you do not have to complete columns (d), (e), and (f). Partial Interests and Restricted Use Property— Complete lines 2a through 2e 1.r you gave entire interest in a property listed in Part 1. Complete lines 3a through 3c if conditions were placed on a contribution listed in Part I; also attach the required statement (see instructions). 2a Enter the letter from Part 1 that identifies the property for which you gave less than an entire interest 1. If Part II applies to more than one property, attach a separate statement. b Total amount claimed as a deduction for the property listed in Part 1: (1) For this tax year (2) For any prior tax years c Name and address of each organization to which any such contribution was made in a prior year (complete only if different from the donee organization above): Name of charitable organization (donee) Address (number, street, and room or suite no.) City or town, state, and ZIP code d For tangible property, enter the place where the property is located or kept 9 e Name of any person, other than the donee organization, having actual possession of the property 1 ' 3a Is there a restriction, either temporary or permanent, on the donee's right to use or dispose of the donated property? b Did you give to anyone (other than the donee organization or another organization participating with the donee organization in cooperative fundraising) the right to the income from the donated property or to the possession of the property, including the right to vote donated securities, to acquire the property by purchase or otherwise, or to designate the person having such income, possession, or right to acquire? Is there a restriction limiting the donated property for a particular use? For Paperwork Reduction Act Notice, see separate instructions. ISA STF PKXV1000.1 Yes No Form 8283 (Rev. 12 -2006) (e) How acquired q by donor (f) Donor's cost or adjusted basis (g) Fair market value (see Instructions) (h) Method used to determine the fair market value ? "u�{ c Date of the O contribution (d) Date acquired by donor (mo., yr.) A B C D E less than an Partial Interests and Restricted Use Property— Complete lines 2a through 2e 1.r you gave entire interest in a property listed in Part 1. Complete lines 3a through 3c if conditions were placed on a contribution listed in Part I; also attach the required statement (see instructions). 2a Enter the letter from Part 1 that identifies the property for which you gave less than an entire interest 1. If Part II applies to more than one property, attach a separate statement. b Total amount claimed as a deduction for the property listed in Part 1: (1) For this tax year (2) For any prior tax years c Name and address of each organization to which any such contribution was made in a prior year (complete only if different from the donee organization above): Name of charitable organization (donee) Address (number, street, and room or suite no.) City or town, state, and ZIP code d For tangible property, enter the place where the property is located or kept 9 e Name of any person, other than the donee organization, having actual possession of the property 1 ' 3a Is there a restriction, either temporary or permanent, on the donee's right to use or dispose of the donated property? b Did you give to anyone (other than the donee organization or another organization participating with the donee organization in cooperative fundraising) the right to the income from the donated property or to the possession of the property, including the right to vote donated securities, to acquire the property by purchase or otherwise, or to designate the person having such income, possession, or right to acquire? Is there a restriction limiting the donated property for a particular use? For Paperwork Reduction Act Notice, see separate instructions. ISA STF PKXV1000.1 Yes No Form 8283 (Rev. 12 -2006) Page 2 Form 8283 (Rev. 12 -2006) -- Name(s) shown on your income tax return Identifying number W.C. Stewart Construction Inc 36- 2980244 Section B. Donated Property Over $5,000 (Except Certain Publicly Traded Securities) —List in this section only items (or groups of similar items) for which you claimed a deduction of more than $5,000 per item or group (except contributions of certain publiclytraded securities reported in Section A). An appraisal is generally required for property listed in Section B (see instructions). Information on Donated Property —To be completed by the taxpayer and /or the appraiser. 4 Check the box that describes the type of property donated: ❑ Art' (contribution of $20,000 or more) ❑ Qualified Conservation Contribution ❑ Equipment ❑ Art* (contribution of less than $20,000) ® Other Real Estate ❑ Securities ❑ Collectibles ** ❑ Intellectual Property ❑ Other *Art includes paintings, sculptures, watercolors, prints, drawings, ceramics, antiques, decorative arts, textiles, carpets, silver, rare manuscripts, historical memorabilia, and other similar objects. "Collectibles include coins, stamps, books, gems, jewelry, sports memorabilia, dolls, etc., but not art as defined above. • ou must attach a qualified appraisal of the property. See instructions. Note. In certain case , y 5 (a) Description of donated property (if you need more space, attach a separate statement) (b) If tangible property was donated, give a brief summary of the overall physical condition of the property at the time of the gift (c) Appraised fair market value A See attached legal description $425,000.00 B c D (d) Date acquired by donor (mo., yr.) (e) How acquired by donor (f) Donor's cost or adjusted basis For bargain sales, enter (g) 9 amount received See instructions (h) Amount claimed as a deduction (i) Average trading price of securities A June 2011 Quit Claim Deed B C 1 'd t'f' as havin D Taxpayer (Donor) Statement —List each item included in Part I above thatthe apprasa I en I les g a value of $500 or less. See instructions. 1 declare that the following item(s) included in Part I above has to the best of my knowledge and belief an appraised value of not more than $500 (per item). Enter identifying letter from Part I and describe the specific item. See instructions. ► Signature of taxpayer (donor) Declaration of Appraiser I declare that I am not the donor, the donee, a party to the transaction in which the donor acquired the property, employed by, or related to any of the foregoing persons, or married to any person who is related to any of the foregoing persons. And, if regularly used by the donor, donee, or party to the transaction, I performed the majority of my appraisals during my tax year for other persons. Also, I declare that I hold myself out to the public as an appraiser or perform appraisals on a regular basis; and that because of my qualifications as described in the appraisal, I am qualified to make appraisals of the type of property being valued. I certify that the appraisal fees were not based on a percentage of the appraised property value. Furthermore, I understand that a false or fraudulent overstatement of the property value as described in the qualified appraisal or this Form 8283 may subject me to the penalty under section 6701(a) (aiding and abetting the understatement of tax liability). In addition, I understand that a substantial or gross valuation misstatement resulting from the appraisal of the value of the property that I know, or reasonably should know, would be used in connection with a return or claim for refund, may subject me to the penalty under section 6695A. I affirm that I have not been barred from presenting evidence or testimony by the Office of Professional Responsibility. Sign Here Signature. Title 1• Date D Date 0- Business address (including room or suite no. Identifying number City or town, state, and ZIP code Palrt':IV: Donee Acknowledgment —To be completed by the charitable organization. This charitable organization acknowledges that it is a qualified or gan aatignn under section 170(c) and that it received the donated property as described 12.4 in Section 3, Part I, above on the following date I' � r Furthermore, this organization affirms that in the event it sells, exchanges, or otherwise disposes of the property described in Section B, Part I (or any portion thereof) within 3 years after the date of receipt, it will file Form 8282, Donee Information Return, with the IRS and give the donor a copy of that form. This acknowledgment does not represent agreement with the claimed fair market value. - ❑ Yes L to Does the organization intend to use the property for an unrelated use? Name of charitable organization (donee) City of Dubuque, Iowa Address (number, street, and room or suite no.) 300 Main Str■ Authorized signatu Employer identification number 4 2.-6654g/co City or town, state, and ZIP code Dubuque, IA 52001 Title Corporate Counsel STF PKXV1000.2 Date t2( �j U12d:( Form 8283 (Rev. 12 -2006) FORM 8283, NONCASH CHARITABLE CONTRIBUTIONS W.C. STEWART CONSTRUCTION INC 36- 2980244 #5(a)A Legal Description of Donated Property: Lots 1 and 2 of LLOYD'S SUBDIVISION; Lots 77 and 78, in CENTER GROVE (also known as CENTRE GROVE); Lot 1 of lot 1 of lot 1 of lot 1 of lot 1 of lot 1 of lot 1 of lot 1 of MINERAL LOT 232; Lot 2 of lot 1 of lot 1 of MINERAL LOT 233; Lot 2 of lot 1 of lot 2 of MINERAL LOT 233; in the City of Dubuque, Iowa, according to the respective Plats thereof. Masterpiece on the Mississippi W.C. Stewart Property Possible Donation DAGIS .� DDEDOGE AREA GEOGRAPHIC INFORMATION SYSTEM ID product or DISCLAIMER: This Information was complied using the Dubuque Area Geographic Information System ( DAGIS), which Includes data created by both the City of Dubuque and Dubuque County. It Is understood that while the City of Dubuque and participating zoencles utilized the ost current and accurate Information available, DAGIS and It's suppliers do not warrant the accuracy or currency of the Information or data contained herein. The City and participating agencies shall not be hold liable for any direct, Indirect, Incidental, consequential, punitive, or special damages, whether foreseeable or unforeseeable, arising out of the authorized or unauthorized use of this data or the Inability to use this data or out of any broach of warranty whatsoever. 1 inch = 300 feet 100 50 0 100 200 300 400 Feet N W+E S Map Prepared by: City of Dubuque Engineering Division 50 West 13th Street Dubuque, lowa 52001 Phone: (563) 589 -4270 Fax: (563) 589 -4205 Imagery Legend provided by = Roads J u lySto rm_2011 esi RGE3 MID HOLDINGS aerial services anonv.aer "a servicesinc_cam 0 12.525 50 Feet 1 i 1111111 1001 Red: Band_1 rfl Green: Band_2 Blue: Band_3