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Historic Preservation Notice of Appeal and Record of Action CITY OF DUBUQUE, IOWA MEMORANDUM March 12, 1999 TO: The Honorable Mayor and City Council Members FROM: Michael C. Van Milligen, City Manager SUBJECT: Notice of Appeal and Record of Action Before the Historic Preservation Commission On behalf of the City of Dubuque, I have filed an appeal to the decision of the Historic Preservation Commission to table consideration of the City's application for Certificates of Economic Hardship for the Merchants Hotel and Union Cigar Store buildings. I ask the City Council to reverse the Commission's action and to approve the applications. On February 25, staff met with the Historic Preservation Commission to present the City's request for approval to demolish the Merchants Hotel, Union Cigar Store, and Surplus Store. The history of public and private efforts to revitalize the Old Main area was reviewed. It was noted that despite these efforts, a key intersection- Third and Main Streets- remains in a blighted condition. The buildings on three of the four corners have been vacant for a number of years. The deteriorated condition of the former Merchants Hotel building and surrounding buildings has been a major deterrent to further investment in the area. A plan to acquire the Merchant Hotel and Union Cigar Store properties and make them available for the development of offices for the Chamber of Commerce was described. Representatives of the Chamber were present and talked about their site requirements. After the presentation at this meeting, the Commission took the required procedural step to deny Certificates of Appropriateness for the requested demolitions. The City was then directed to apply for Certificates of Economic Hardship for the properties. Following the meeting, staff prepared and distributed to the Commission the supporting information described in the Historic Preservation Ordinance. This information, a copy of which is included in the record of the Commission, was reviewed at the meeting of March 11. At the meeting, the Commission voted to approve a Certificate of Economic Hardship for the Surplus Building. For the Merchant's Hotel and Union Cigar Store, however, they voted to table the City's applications for ninety days to give the parties time to see if the buildings could be preserved as part of the Chamber project. A majority of the Commission voted for tabling in spite of the staff's request that the matter be voted up or down at this time. They reminded the Commission that the City's offer for the Union Cigar Store property would expire after March 23. In my previous meetings with the Chamber, I know they have already explored the renovation option with a developer and considered it unworkable at that time. In addition, one of their conditions of purchase is that the City provide Main Street access to the parking ramp to be built at Fourth and Iowa. This necessitates the demolition of the Union Cigar Store to provide that access lane. In bringing this matter on appeal, I am attempting to keep the redevelopment of the Old Main area on track. A long delay at this time is unacceptable if we are to respond to the unique opportunity to secure a real project for the Third and Main Street intersection. The Chamber of Commerce has agreed to proceed if the City acquires and demolishes the properties. Its current lease ends in December and it cannot wait. Even if the City Council agrees with this request to reverse the Commission, it will be seven weeks before demolition would start. The demolition specs and bid documents would be presented to the City Council on April 5 and the bids would be awarded on May 3. Actual demolition would not start until after the May 3 Council meeting. During this time period any interested parties would be welcome to submit viable plans for redevelopment of the buildings. The City could consider working with those individuals to provide financial assistance that is available for redevelopment in this district. I respectfully request that the Mayor and City Council reverse the action of the Historic Preservation Commission and approve Certificates of Economic Hardship for the Merchants Hotel and Union Cigar Store buildings. /)1 if.! I ! t t; MCVM/j Attachment cc: Barry Lindahl, Corporation Counsel Tim Moerman, Assistant City Manager Jim Burke, Community and Economic Development Director CITY OF DUBUQUE, IOWA MEMORANDUM March 12, 1999 TO: Mary A. Davis, City Clerk FROM: James Burke, Community and Economic Development Director SUBJ: Notice of Appeal and Record of Action before the Historic Preservation Commission As required by Section 25-11 of the City Code, I am herewith transmitting the notice of appeal and the record of action before the Historic Preservation Commission on the application of the City of Dubuque for Certificates of Economic Hardship for the Merchant Hotel building at 304- 320 Main Street and the Union Cigar Store at 330-336 Main Street. NOTICE OF APPEAL TO: City of Dubuque Community and Economic Development Department The City of Dubuque, Iowa, in accordance with Dubuque Ordinance Section 25-11 (a), hereby appeals to the Dubuque City Council the decision of the Dubuque Historic Preservation Commission on the 11 th day of March, 1999, which tabled the City of Dubuque's Application for Certificates of Economic Hardship concerning the Merchants Hotel Building at 304-320 Main Street and former Union Cigar Store at 330-336 Main Street. Under Dubuque Ordinance Section 25-11 (b), the Dubuque Community and Economic Development Department is to immediately transmit such notice and the record of the action before the Commission to the City Clerk. Dated this E day of March, 1999. CITY OF DUBUQUE, IOWA By: ACKNOWLEDGMENT The City of Dubuque Community and Economic Development Department hereby acknowledges receipt of the Notice of Appeal. Dated this day of March, 1999. By: Citv Clerk's Office 50 West 13th Street Dubuque, Iowa 52001-4864 Phone: (319) 589-4120 Fax: (319) 589-0890 THE CITY OF <;.:0 DUBUtJuE ~~~ March 16, 1999 Michael C, Van Milligen, City Manager City of Dubuque, Iowa Dear Mr. Van Milligen: At the Regular Session of the City Council held on March 15, 1999, the City Council was presented with an appeal from the action of the Historic Preservation Commission tabling consideration of the City's application for Certificates of Economic Hardship for the Merchants Hotel and Union Cigar Store buildings at its March 11, 1999 meeting. Upon motion it was resolved, that the City Council reverse the action of the Historic Preservation Commission and approve Certificates of Economic Hardship for the Merchants Hotel and Union Cigar Store buildings in accordance with Sec. 25-11 of the City of Dubuque Code of Ordinances. Respectfully submitted, ~7;t~~ (2. ~ MarytA. Davis CMC City Clerk cc: Historic Preservation Commission Service People Integrity Responsibility Innovation Teamwork DRAFT HISTORIC PRESERVATION COMMISSION City of Dubuque, Iowa MINUTES DATE: March 11, 1999 TIME: 5:00 P.M. PLACE: City Hall; Conference Room B 50 West 13th Street; Dubuque, Iowa 52001 COMMISSION: Chair: Present: Absent: Kringle Greenfield, Kringle, Naughton, Plisek and Bradford Eipperle STAFF: Mark Noble, Cindy Steinhauser and James Burke CALL TO ORDER The meeting was called to order at 5:10 p.m. AFFIDAVIT OF COMPLIANCE Staff verified that the meeting was being held in compliance with the Iowa Open Meetings Law. MINUTES Motion by Naughton, seconded by Kringle to approve the minutes of February 25, 1999. Aye: Greenfield, Naughton and Kringle Nay: None Abstain: Plisek and Bradford DESIGN REVIEW Address: 450 Alpine Street Applicant: Bob Steinhauser District: Langworthy Project: Replace steps in rear Staff member Steinhauser reviewed with the Commission the project to replace the existing back steps with new steps that will include a landing and will run north/south along the house. Presently they run east/west with no landing at the doorway. Steinhauser reviewed the design and materials used. 1 The Commission inquired about water runoff from gutter/eaves. Steinhauser noted that there is sufficient space to tile and take corrective measures to alleviate concern. The stairs will be painted wood with a railing matching the recommended HPC design. Motion by Naughton, seconded by Plisek, to approve the steps on the rear of the house as submitted. Aye: Greenfield, Kringle, Bradford, Plisek and Naughton. Nay: None DRAFT Address: District: 301 Main Street Old Main Applicant: Project: City of Dubuque Army Surplus Store Jim Burke reviewed this site, noting Dubuque Initiatives is potentially going to purchase this property. Mr. Burke noted that the Commission has been presented material which shows the economic hardship of the building. Ron Balmer, IIW, reviewed the tile condition, reporting that they are unable to find matching tile, making it difficult to match the original design. They would need to completely remove the existing tile and replace with new tile. In addition, they need to reroof the structure, provide a restroom on first floor and repair lintels. These rehab improvements, in addition to others, equals $264,774.00. The purchase cost is $74,000 plus $8,000 invested to do repair/maintenance. The total cost is $348,744.00. In order to pay for this, they need to generate rental income above the rehab cost. Burke reviewed the financial analysis as outlined in the memo dated March 10, 1999. Commissioner Naughton inquired about rental figures, which Burke replied that by using $8/square foot, which is a high end figure, the property would still generate a net loss for the property. Burke reviewed this issue. Commissioner Greenfield noted that improvements to this building would impact (positively) the values of surrounding buildings, provided the other buildings are also improved. Commissioner Naughton asked about available tax credit, which Burke stated could be applied for are often difficult to receive. Staff member Steinhauser reviewed her March 11th memo, which addressed tax credits available for this property. Commission and applicant discussed tax incentives and financing methods. Staff member Burke stated the figures should be adjusted to show years 1-5 and 5-20, not 1-5 and 5-15. 2 DRAFT Commissioner Greenfield inquired about the Commission's scope; that it's difficult to assess this property knowing that the building has been vacant for several years and that no one, until now, has wanted to purchase the building. Commissioner Naughton and Staff member Steinhauser noted that the charge of the commission must review these figures otherwise it could be construed as an arbitrary and capricious decision. Burke stated that they could look at other rehab designs, but to do one that the Commission will approve is cost prohibitive and these figures are what they based the market analysis on. Commissioner Naughton asked Jerry Enzler for comments. Jerry stated that the building's historical in nature, yet that it does not help the historical status of this neighborhood. It does not support this district. It is historic, but from a different time frame that the remainder of the district. Commissioner Naughton related there have been no financial packages put together on this building, but if the other three corners were developed it could be valuable. The Kriviskey report stated the significance of this building. Staff member Burke stated that they will be spending a lot of money to fix this building, that they would not be able to save much of the original tile, and would attempt to make the building look old when new tile would be used. Staff member Steinhauser reviewed recently received faxes from the State Historical Society and their comments. Commissioner Bradford inquired of Commissioner Plisek how new tiles would impact the character of the building. He felt there would not be much impact whereas changing to another material could cause an impact. The Commission reviewed the economic feasibility of this project. Motion by Greenfield, seconded by Kringle, to approve the Certificate of Economic Hardship for 301 Main Street. Aye: Greenfield, Kringle, Plisek, Naughton Nay: Bradford Address: District: 304-320 Main Street Old Main Applicant: Project: City of Dubuque Merchant's Hotel Staff member Burke reviewed the reports he received from an engineering firm which reviewed this building in May, 1997 and April, 1998, as part of code enforcement action. Ron Balmer, IIW, first reported that there is a collapse of structure and the second report stated that the collapse is occurring in the rear (east) portion of the building, due to 3 DRAFT structural damage caused by removal of supports in the basement. Rehab costs were based on partial demolition and fixing up the west half of the building. Staff member Burke reviewed the sketches that were provided, noting that they attempted to address some architectural features from the past. Jerry Enzler provided several photos of this building, noting that one photo shows a turret at the corner, one with the corner squared out and one of the adjacent buildings. Commissioner Naughton stressed that the historical importance be addressed by the Commission. Tabling for 90 days to give developer time to look at project as presented with different scenarios. Mr. Burke noted that presently this area is desolate whereas the old photos show there were people in abundance in the area. Staff member burke reviewed the rehab estimate as noted in the March 10th memo, included engineering costs. Mr. Burke reviewed the design, which includes a parking area under the building and an adjacent ramp. Using the same kind of scenario, Mr. Burke reviewed (from the 3/10/99 memo) the financial figures for this property. Commissioner Naughton noted that several items should be taken into consideration: 1. This design scenario may not be appropriate as it is actually larger than existing. Staff member Burke stated this addition allows for maximum use of the building and is for the inclusion of elevators and stairways. The square footage difference was discussed. If the building size is reduced, the rental area is reduced. It was discussed that accessibility has to be addressed, noting that all floors do not line up. 2. The design, including glass, is most cost effective, and that other designs should be looked at to decrease the cost. Staff member Burke stated that the east portion of the building is where there is structural problems. 3. There are other loan programs available less than 8% that could be secured to finance a large percentage of the building (Main Street and Premiere Bank programs are two examples). There are numerous tax incentives available and ISTEA funds could be made available (although Burke disagreed since the project is not transportation related. Staff members Steinhauser and Burke and Jerry Enzler reviewed ISTEA funding moneys available. They reviewed how the funding was done for the underground wire project. 4 DRAFT Commissioner Naughton believes the project could be a win-win situation and can see why the Chamber wants to locate there. The 4th Floor could be unfinished and left for future expansion. With available grants and compared to constructing a new building, the costs are very similar. Commissioner Greenfield asked why the building has been vacant if it is so valuable. Jerry Enzler reported he drives by this building every day. It is documented that the front half is structurally sound. An attractive reuse of the building is possible and there is a serious group of people looking to rehab this building. This has occurred in a very brief time frame. The Historical Society would like this group to be given time to make this work. This is a different situation than the Surplus building, which was vacant and for sale for a number of years, plus the recent announcement of a new parking ramp has spurred interest in this area. He suggested that a strategy would be to provide economic hardship after a certain time frame to allow the group to study this further. There should be something done - it shouldn't remain in its present state - but that there is a group with the resources to study the rehab of this building. Commissioner Naughton doesn't believe economic hardship is evident with this building. Jerry Enzler noted that he was not aware until recently that this building was available Staff member Burke noted the optimism (?) he has seen in this area. He noted that a rehabbed building (Cooper Wagon Works) has stood vacant - that there have not been the tenants available to utilize these spaces - at the rents that have been required. The City does not want to own this building for numerous reasons. The Chamber has looked at this and the space doesn't work. Steve Horman would love to do this building but the Chamber does not have that much funding since they are a non-profit organization. They would utilize three floors, but not four. The half floors don't help them. The first floor would work for them and they are talking with the developers mentioned by Jerry Enzler. As a non-profit, tax credits don't work, although they can sell them off at 80% of the value. They need access to the parking ramp. This project does not work if they can't get to the building. Steve's last conversation with a developer on this building is that it won't work. He's willing to do anything and would like to be part of seeing this building rehabbed, but they just can't do it themselves. The cost and building floor plan does not work. He noted that drivers access is a key issue, and that if the building was expanded to be north and east, it may work. With a new building, the Chamber buys the land and builds. If a developer rehabs the existing building, the Chamber leases. Steve says that the floor plan just doesn't work with the existing building. If they can get help and be on two levels (expand to east) then they could partner and make it work. The Chamber is not into tearing down buildings. Jerry Enzler stated that it's unfortunate that the timing is such a rush. It might be prudent 5 D . D:::~tA.' FT I '. .. . . ~ . to see further explanation and that if nothing new comes forward, in say 180 days, then the Commission could go forward with this project as presented. Staff member Steinhauser reviewed Section 25-9.3(a) of the Historic Preservation Ordinance which addresses this issue. Commissioner Greenfield feels that 180 days would not work since this year will be lost, construction-wise. Steve Horman stated they have the lease until next June, and have a second site. Steve Horman stated they could wait six months (if GDDC would stay and they could renegotiate their lease) but that would be difficult. Ninety days would be a tight time frame. The City has some time constraints (resolve issue by march 23, 1999). Steve Horman stated they are working with two developers to restore the building but is not sure how this will happen. He can review the pros and cons for their needs. If someone comes in soon, with or without the Chamber, he is all for this rehab. The Commission discussed tabling this for a short time frame. Jerry Enzler stated developers did want to come to the Monday meeting but it was canceled. It was discussed that the Commission found there is a case for tabling this for 90 days. Staff member Steinhauser reviewed the ordinance language pertaining to tabling. Staff member Burke stated the City is not in agreement and is asking the Commission to deny the request rather than table. It was discussed tabling the Union City Store and whether this is possible. The Commission and staff discussed the situation. Motion by Plisek, seconded by Naughton, to table this item for 90 days to give the developer time to look at the project as presented with different scenarios. this project can be reviewed by any developers, who should research ways to decrease rehab costs by looking at other designs. Aye: Kringle, Bradford, Naughton, and Plisek. Nay: Greenfield. Address: District: 330-336 Main Street Old Main Applicant: Project: City of Dubuque Union Cigar Store Staff member Burke reviewed this property noting the substantial disrepair of this building. Jim went through the site with an architect and attempted to rehab with a renovated front facade, to have residential above, and a storefront on the first floor. An elevator is not required but the rehab cost is basically $500,000 as noted in the March 10th memo. Burke reviewed the rental costs as proposed, noting that there would be a 40% vacancy rate for the top floor. 6 DDAJ:T ,}k'.':.. ;'. ' ! ~._ t ';!::- I- ~. ,:..;~ ~.~:- . l.;'.: .~-' idJ . m !;~.. ."'~' : \)Kt:JI I Commissioner Naughton noted there are tax credit incentives that should be explored. Commissioner Greenfield stated it is very difficult to get these credits, Burke concurred. Jerry Enzler stated that with the State Historical Society supporting this, maybe it has a better than average chance to get the tax credit money, Commissioner Greenfield reviewed rental rate to get for his units. Commissioner Naughton reviewed the rental rate they get which was higher but having decks off the back is an incentive. Commissioner Naughton feels there are issues that can be addressed. The parking ramp and all buildings together are being considered. Motion by Kringle, seconded by Naughton, to table this project for 90 days for possible incorporation with the Merchants' Hotel project. Aye: Plisek, Bradford, Kringle and Naughton Nay: Greenfield ADJOURNMENT Meeting adjourned at 7:45 P.M. Respectfully submitted, Cynthia Steinhauser Adopted F:\USERS\MELlNDA\WP\MNOBLE\3-11-99H.MIN 7 CITY OF DUBUQUE, IOWA MEMORANDUM / March 10, 1999 TO: es Burke, Community and Economic Development Director FROM: SUBJ: Application for Certificate of Economic Hardship 304-320 Main Street - Merchants Hotel 330-336 Main Street - Union Cigar Store 301 Main Street - Surplus Store This memorandum transmits additional information in support of the City of Dubuque's application for certificates of economic hardship for the above-captioned properties. This matter is on the Commission's agenda for tomorrow, March 11. We have included a package of information regarding the economic feasibility of rehabilitation of each of the properties. For each, we have rehab cost estimates, an estimate of net operating income for the rehabbed property, and an estimate of the return on investment. The rehab estimates were prepared by IIW Engineers and Gerardy Construction (Surplus Store), Durrant Architects (Merchants Hotel), and Design Center Associates (Union Cigar Store). For projected rents and operating expenses, we consulted with Bob Felderman of Felderman Appraisals. We have utilized rent rates near or above the top end for this area of downtown. In preparing the estimate of return on investment, we have presented a conventional finance scenario and a scenario using the City's Downtown Rehab Loan Program. The conventional loan is for seventy percent of project costs and is amortized at 8% over fifteen years. The Downtown Rehab Loan provides a matching facade grant of up to $10,000, a planning and design grant of up to $10,000, and a loan of up to ninety per cent of rehab costs not to exceed $300,000. The loan is made at three per cent interest with interest only payments for the first five years and then is amortized over the next fifteen years for an overall term of twenty years. As you will note, our analysis shows that for all three properties there is a negative cash flow under conventional fmance terms. Even with the Downtown Rehab Loan, there is only a small positive cash flow which ends after the interest only period ends in the fifth year. We believe that this demonstrates that a prospective owner would not realize a reasonable return from these properties. SURPLUS STORE 301 MAIN STREET Estimate of Return on Investment CONVENTIONAL FINANCE Purchase price $82,000 Rehab Costs $266,744 Project Costs $348,744 Equity 30% $104,623 Amount to finance $244, 121 Net Operating Income Annual Debt Service Cash Flow $13,859 $27,995 ($14,136) 8%, 15yrs Return on Eq uity Minus 14 per cent CITY DOWNTOWN REHAB LOAN Rehab Costs $266,744 less: Facade Grant $10,000 Arch Fees Grant $10,000 $246,744 Dwntwn Rehab Loan $240,000 3%, 15 yrs Equity $88,744 Balance to finance $0 8%,15 yrs Years 1-5 Years 5-15 Net Operating Income $13,859 $13,859 Annual Debt Service $7,200 $27,523 Cash Flow $6,659 ($13,664) Return on Equity 6 percent minus 13 per cent SURPLUS STORE 301 MAIN STREET Net Operating Income RENTAL INCOME Retail 3,647 sq ft @ $8.00 $29,176 $2,918 Less: vacancy 10% $26,258 GROSS RENTS $26,258 OPERATING EXPENSES Insurance Property Taxes (assumed assessed value of $200,000) Utilities Management Maintenance Reserve for replacements TOTAL EXPENSES NET OPERATING INCOME $13,859 $700 $5,400 $2,100 $1,575 $1,312 $1,312 $12,399 SURPLUS STORE 301 MAIN STREET Rehab Costs Exterior Renovation see IIW estimate $208,100 Interior Renovation see Gerardy estimate $37,834 Arch / Engineeing 8% $20,810 $266,744 SENT BY:Xerox Telecopier 7020 6- 3-98 : 9:49PM 3195567811.... 03 jun 98 IIW ENGINEERS AND SURVEYORS, P.C. 4155 PENNSYLVANIA AVENLE I DUBUOUE, 'CWA 52C02 \/Olea: 319 ~ 2464 tclx: 3195567811 e-mail: fllb@iiwengr.com 301 MAIN STREET EXTERIOR RENOVATION _stnu:turalntact COST ESTI~1ATE SUMI.1ARY p:\98~mat1 ---.-----.. SECT. DESCRIPTION MATERIAL lABOR EQUiP. suacoo. TOTAL 01009 GEIEW. REO. ~ 1550 4..~ 1700 4100 02999 SITEWORK 500 3748 31SO 0 7428 03999 CONCRETE 0 0 0 0 0 Q.4QQO MASO/IJRY 56408 11236 400 0 76044 05llG9 M8.tJ.S 1510 1412 160 0 3082 0s009 CARPtNTRY 7!i6 3~1 0 0 10Q7 07999 THERM. 8. MOIST. 4993 3888 253 0 9134 0B999 DOORS 8. W1NDOv\ 21G5 1 (}4() 0 25OCO 28235 0G009 FINISHES 0 0 0 oW8O 4960 10999 SPECIALTIGS 0 0 0 0 0 11999 ARCI-l. EOUlPMENT 0 0 0 0 0 12900 FURNISHINGS 0 0 0 0 0 1 SQI;Q SPECIAL CONST. 0 0 0 0 0 14llOO COI>MOV'G SYSTEIJ 0 0 0 0 0 1!iOOO HVAC 0 0 0 1lXXl 1lXXl Pl..UI.IOING 0 0 0 0 0 1~ El.!:CTRICAL 0 0 0 1500 1!OJ ._.u__.'H'~'____. 66762 33215 4443 341&l 13flW) SALES TAX 0.05 3339 PRT & INS 0.:27 8969 O&P 0.2 27720 Mal 0.003 53S OOIo:D 0.01 1792 --- ANTICIPATED BID AMOUNT 18095& CONTING::"CY FUND 0.15 27144 PROJECTED CONSTRUCTION COST 2CBlOO 319 589 4149:# 2 SENT BY:Xerox Telecopier 7020 6- -------.. 3-96 ; 9:50PM 3195567811.... 319 589 4149;:: 3 301 I.IAIN STREET EXTER:OR RENOVATION CI2000 SITE'NORK DESCRIPTION NO. WIDTH lENGTH Dt:~ QUANT. UMAT. ULAa. UEO. MATERIAL LABOR EQUIP. SUBCON. TOTAL 02050 DEMOLITIOIl SUP CARP LAB take doNn chimney LS 1 1 2 2 HRS 42 ~O 0 64 100 0 1M rem south WIlli LS 1 1 '2 24 HRS 42 25 0 1008 600 0 1606 rom e.$l _II LS 1 1 2 12 HRS 42 25 0 504 JOO 0 804 rem west ....." LS 1 1 '2 12 HRS 42 25 0 504 30) 0 804 rem north rear LS 1 1 2 8 HRS 42 2~ 0 336 200 0 536 rem Gad w::all 01 add'n LS 1 1 '2 8 HRS 42 25 0 336 200 0 536 rem ncrtn parapet cap LS 1 2 8 HRS 27 0 0 216 0 0 2\8 shore exiS: roof slructun LS 1 1 40 HRS 19 0 500 760 0 0 1260 HAUL DEBRIS 1 TRK G 4O.OC.+iR 37 HRS 0 40 0 0 1400 0 1480 --------- O2"'.NO SITCWORK TOTAL 500 3148 31El:J 0 1'126 301 MAIN STREET EXTERIOR RENOVATION IJ..4COO MASONRY OESCRIPTIOO NO. WIOn, lENGTH DEPTH QUANT. U MAT. U LAB. U EO? MATERIAL LABOR EQUIP. SUecoN. TOTAL 04310 CONCRETE BlOCK Wf':J"1o (ea) eaG! ..ide 1 16.333 58.333 6" 11'26 105 2 0 1183 2252 0 0 3435 coer 8I000.'e 2 10 4.5 6" 107 1.05 2 0 113 214 0 0 327 Ie$S ",dws -1 7.333 38.687 6" -333 1.05 2 0 -348 ~ 0 0 -1013 sOuth side \ 17.333 72 6' 1475 1.05 2 0 1549 2950 0 0 4499 dOOr ele""" 2 10 4.5 6" 107 1.05 2 0 113 214 0 0 m less wcM'B -1 6 16.333 6" -114 1.05 2 0 .118 -227 0 0 -345 -4 5 4.5 6" -105 1.05 2 0 -100 -200 0 0 -318 west aide 1 22 32 6" 832 1.05 2 0 874 1664 0 0 2538 less wdw$ -2 4 6.167 6" -57 1.05 2 0 -58 -113 0 0 -171 rolln :!lide 1 26 16 6" 4Q2 1.05 2 0 517 9il4 0 0 1501 04320 GLAZED Tll" WI5% (eal saa..t ..ide 1 1& 333 58 333 4" 1126 11.5 3.25 0 12949 3660 0 0 15609 door alc<Jve 2 10 4.5 4" 107 11.5 3.25 0 1231 348 0 0 1579 ~ wdw:5 -1 7.333 38.667 4" -333 11.5 3.25 0 -3828 -1061 0 0 -<4SOO south side 1 17.333 72 4" 1475 11.5 3.25 0 16963 4794 0 0 21757 dOCA' alcove 2 10 4.5 4" 107 11.~ 3.25 0 1231 348 0 0 1579 less wdws -1 6 16.333 4" -114 11.5 3.25 0 -1310 -369 0 0 -1579 -4 5 4.~ 4" -105 11.5 3.25 0 .1206 -340 0 0 -1548 west side 1 22 32 4" 832 11.5 3.25 0 9568 2704 0 0 12272 Ie5& wd~ .2 4 6.167 04" -57 11.5 3.2S 0 -654 .1~ 0 0 .a38 north side 1 25 16 4" 492 11.5 3.25 0 5658 15e9 0 0 T151 radius comers 2 2.333 ~7.333 4" 915 32 5 0 3072 480 0 0 3552 &,:lee'l &Ilepes & colors LS 5000 0 0 0 5ClXl 04~10 GROUT BOND BEAMS ::I 0333 176.333 0.5 94 2.75 0.65 0 259 62 0 0 321 re;nforcement 5 17 8. 333 1.043 1220 0.3 0.2 0 369 246 0 0 615 CORES 134 0.333 16 0.5 375 2.75 0.65 0 1032 244 0 0 1276 reinforcement 134 16 1.043 2460 0.3 0.2 0 738 492 0 0 1230 cowel into top c:i fdtn 134 3 1.043 462 0.3 2 0 139 924 0 0 1063 04120 MASON SAND 81.OCKITILE 45 .4.75 0 2 214 0 0 0 214 04130 MASON CEMENT BLOCKITILE 215 5.5 0 0 1183 0 0 0 1183 C4S10 TUCKPOINTIt-lG (&I) ....a.tin!) n<lrtn p8rBpet 4 83 349 0.24 0.7 0 64 245 0 0 329 SCAFFOLDING LS $2OO1mo rerrtal fa' two mon1l1S 0 0 400 0 400 CH<lOO M^SONRY TOTAL 56408 21236 4CO 0 78044 301 MAIN STREET EXTERIOR REOOVAT1ON 050c0 METALS DESCl'llPTION NO. WIDTH LENGTH DEPTH QUANT. UMAT. ULAB. U SUB. MATERIAL lABOR EQUIP. SUBCON. TOTAL C51CXl STRUCTURAL STE"L (Ib) linle.. .c>uth 1 W12lC12 18 35 53J 0.4 0 0 252 0 0 0 252 3 L5x3.5 5 8.7 131 0.4 0 0 53 0 0 0 53 6 L5x3.5 6 8.7 314 0.4 0 0 125 0 0 0 126 1 Wax13 10.5 26 273 0.4 0 0 110 0 0 0 110 east 1 W\2:<22 25.333 35 887 0.4 0 0 355 0 0 0 355 2 Wax13 9.5 26 ~ 0.4 0 0 198 0 0 0 198 1 W8X13 7.333 26 191 0.4 0 0 77 0 0 0 77 ~ 6 l5x3.5 5.333 8.7 279 0.4 0 0 112 0 0 0 112 1 W6'x13 7.3:33 26 19\ 0.4 0 0 77 0 0 0 77 rabllcetion lS 1 1 32 HRS 19 5 0 608 160 0 768 erection LS 1 1 16 HRS 19 0 0 304 0 0 304 misc. anchor Ilolls & e;ql anchors 150 500 0 0 650 05000 METALS TOTAL 1510 1412 160 0 3082 301 MAIN STREET EXTERIOR RENOVATION 0.;000 CARPENTRY DESCRIPTION 110 WIDTH lENGTl-l CEPiH QUANT. UMAT. U LAB. U sua. MAj'ERlAl LABOR EQUIP. SU8CON. TOTAL 061 CXl ROUGH CARPENTRY (bf) !)>l~p.ol ~p 1 318 2 681 05 0 681 341 0 0 1022 nail allowance LS 75 0 0 0 75 CWOO CARP!;HTRV TOTAL 756 341 0 0 1097 SENT BY:Xerox Telecopier 7020 6- 3-98 9:50PM 3195567811.... 319 589 4149;~ 4 301 MAIN STREET EXTERIOR RENOVATION 07000 THERMAL AND MOISTURE PROTECTiON DESCRIP710N NO. WIDTH LEt-:GTH DEPTH QUANT. U ~AT. U LAB. U EQP. MATER lAl LABOR EQU\P. SUBCON. TOTAL 07210 BUiLDINC INSUI..ATION wlIO'\(, (sI) east side 1 1S.333 58.333 l' exlps 1049 0.31 0.26 0 326 273 0 0 !\€l9 door alo""e 2 10 ~.5 I" e>C:pIl 99 0.31 0.2ll 0 31 26 0 0 !it leGS -..dws . 7333 38.667 1" eldps -310 0.31 O.2e 0 -95 .79 0 0 -174 ., SQuth ~ide 1 17 .333 72 I" exlps 1373 0.31 0.26 0 426 357 0 0 783 door alcove '2 10 .1.5 1" eldos 99 0.31 0.26 0 31 26 0 0 !it less wews -1 6 16.333 I" exlps -106 0.31 0.26 0 -31 -26 0 0 -57 -4 5 45 1" eldps -98 0.31 0.26 0 -29 -24 0 0 .53 ....,,;1 side 1 22 32 I" el<lp" 775 0.31 0.26 0 241 202 0 0 -443 less~ -2 4 6.167 I" eldps -53 0.31 0.26 0 -15 .12 0 0 -27 nonh side 1 26 16 I" exlps 456 0.31 026 0 142 120 0 0 262 075CO ROOFING (sf) msln buddinQ 32 72 ~ 0.785 0.3 0.06 1990 761 153 0 2904 north addition 26.333 57.5 1666 0.78S 0.3 0.06 1308 500 100 0 1908 07520 FlASHINGS (sf) psrapsl ~ap 2 318 lIS8 0.55 0.5 0 368 33-4 0 0 702 07920 SEALANiS (If) miao windowe, doors.__, LS 1lXlO 0.3 1.43 0 300 1430 0 0 1730 -~-------". 07999 THOlMAL AND MOISTUR~ PROTI;;CTIOO TOTAL 4993 3e88 253 0 9134 301 MAIN STREET EXTERIOR RENOVATION 08000 DOORS AND WINDOWS ~sa:lIPTlON 110 WIDTH LENGTH DEPTH CUANT. UMAT. U lAB. U SUB. t.lA TER IAL LABOR EQUIP. SUBCON. TOTAL 08410 ALUMIM.lM DOORS & FRAMES in~1 tldwr (ea) rw::w doors wed 8. couth 3 3 7 3 410 230 0 1230 6SO 0 0 1920 new front door east 1 6 7 1 96S 350 0 965 350 0 0 1315 08800 GLASS AND GLAZING (51) door "tee 2 2.687 S 34 0 0 20 0 0 0 680 680 $ide lites 2 1.5 6 19 0 0 20 0 0 0 380 3tIO lnlnsom 2 5 6 63 0 0 20 0 0 0 1260 1260 new windQoNS . alum frm 2 4 6.107 52 0 0 -'10 0 0 0 2080 ~ 1 16.5 6.25 109 0 0 40 0 0 0 43&l 4360 2 4.5 5 4a 0 0 40 0 0 0 1920 1920 1 9.167 5 49 0 0 40 0 0 0 19611 1960 2 8.167 7.333 12<' 0 0 40 0 0 0 5040 5040 1 23.667 7.333 183 0 0 40 0 0 0 7320 1320 -- OIiSSS DOORS AND WINDOWS TOTAL 2195 1040 0 25COO 28235 301 MAIN STREET EXTERIOR RENOlJATlON OOCOO FINISHES Df~IPTIC\'Il NO. WIDTH LENGTH DEPTH QUANT. UMAT, U LAB. USUB. MATER~l ~ EQUIP. SUBCON. TOTAL 09210 PlASTER wf1O% gy~ (sy) oeiling perimeter 1 4 226 100 0 0 20 0 0 0 2120 2120 wail. 1 12 176 247 0 0 18 0 0 0 4<<Cl 4446 len .,.;r.dOWS LS -16 0 0 18 0 0 0 .287 -287 ceiling COYe 1 226 27 0 0 25 0 0 0 675 675 09900 PAINTING (sf) c.iljn~ 1 32 n 2420 0 0 0.26 0 0 0 678 676 walls 1 13 226 3065 0 0 0.33 0 0 0 1019 1019 less .,.;ndcws LS -204 0 0 16 0 0 0 -3671 -3671 --' 0800S FINISHES TOTAL 0 0 0 4980 4S8O 301 MAIN STREET EXTERIOR REt-.:OVATION 01000 GENERAl. REOUIRElAENTS DESCRIPTION MATERW LABOR EQUIP. SUBCON. TOTAl Sl.JPERVISION 0 750 0 0 750 ENe & LAYOUT 0 0 0 0 0 TRAVEL TIME 0 0 0 0 0 TRAVel EXPENSE 0 0 0 0 0 TEMP. FACILITIES 200 '200 0 0 400 TEMf'OR.o\RY PONE 0 0 0 250 250 TEMpORAAY ~EAT 0 0 0 0 0 PROT PROP & LAB 100 100 0 0 200 CLEAN UP 0 250 0 0 250 TRUCKG S. HAUL'G 0 0 200 0 200 pOSTAGE 0 0 0 25 25 TELEPHONE 0 0 0 75 75 KY80 0 0 0 0 0 MOVC IN/OUT 0 0 0 400 400 PROJECT SIGN 0 0 0 0 0 LANOF"ILL ~~ 0 0 0 750 7:'iJ TESTING 0 0 0 200 200 SHOP DRAWiNGS 0 50 0 0 50 MISC. EQUIPMENT 0 0 250 0 250 P\JNCHUST 100 200 0 0 300 uo. DAMAGES 0 0 0 0 0 ----.----..--------- 01000 GEN. REO TOTAL 400 1~ 4=<l 1700 4100 II Job Estimate Proposal II . . G ERARDY CONSTRUCTION INC. P.O. BOX 567 DUBUQUE, IA Fax 319-582-7747 52004 ..319-582-9003 E-Mail gci@mwcLnet SUBMITTED TO: Aggie Kramer Economic Development City of Dubuque DATE: March 31,1998 JOB DESCRIPTION: Projected Update Cost for Surplus Store JOB LOCATION: Main Street. COST ESTIMATE: $71,834 INCLUDES: HVAC: New unit with 9 diffusers Remove modine heaters Electric: 300 amp service 20 2x4 lay in fixtures 12 receptacles Wire rooftop Wire 2 restrooms with fans Roof and Insulation; R-20 insulation Water tight rubber roof with 5 year warranty . Plumbing: 2 bathrooms with handicap toilets 2 lavs with wrist blade handles 1 40 gallon water heater Remove all gas piping and radiators Misc: New windows and doors to match front of building Plaster over existing plaster walls Frame out existing unflIlished perimeter walls and drywall Frame in and drywall bathrooms. New suspended ceiling Material Labor MERCHANTS HOTEL BUILDING 304 - 320 MAIN STREET Estimate of Return on Investment CONVENTIONAL FINANCE Purchase price Rehab Costs Project Costs Equity 30% Amount to finance $20,000 $1,545,622 $1,565,622 $470,000 $1,095,622 Net Operating Income Annual Debt Service Cash Flow $95,257 $125,644 ($30,387) 8%,15yrs Return on Equity minus 6 per cent CITY DOWNTOWN REHAB LOAN Facade Grant Arch Fees Grant Dwntwn Rehab Loan Equity Balance to finance Total Project Costs $10,000 $10,000 $300,000 $470,000 $775,622 $1,565,622 3%, 20 yrs(i only first 5 yrs) 8%,15 yrs Net Operating Income Annual Debt Service Cash Flow Years 1-5 $95,257 $93,947 $1,310 Years 5-15 $95,257 $113,808 ($18,551) Return on Equity less than 1 per cent minus 4 per cent , MERCHANTS HOTEL BUILDING 304 - 320 MAIN STREET Net Operating Income RENTAL INCOME Office - 17,500sq ft @ $9.50 $166,250 Less: vacancy 10% $16,625 $149,625 GROSS RENTS $149,625 OPERATING EXPENSES Insurance Property Taxes (assumed assessed value of $800,000) Utilities Management Maintenance Reserve for replacements TOTAL EXPENSES NET OPERATING INCOME $95,257 $2,128 $21,600 $10,080 $7,560 $6,500 $6,500 $54,368 MERCHANTS HOTEL BUILDING 304 - 320 MAIN STREET Rehab Costs Renovation costs see Durrant estimate Arch / Engineering 7% $1,444,507 $101,115 $1,545,622 STATEMENT OF PROBABLE COST Page - 1 - DURRANT CONSTRUCTION MANAGEMENT Owner: City of Dubuque Project: Merchant Hotel Project No. 98238.00 Time: Date: Estimator: 11 : 12 AM 6/8/98 SRR & FJK CSI QUANTITY UNIT TOTAL DIV. DESCRIPTION NO. UNIT COST COST Description: Remodel and Addition to Wood Frame Structure 17,500 GSF Building Construction Costs: 1 General Requirements: 17,500 GSF 0.00 8,990 2 Sitework: Demolition & Site Improvements 17,500 GSF 5.82 101,875 Site Utility Work 17,500 GSF 0.60 10,500 SUB-TOTAL SITEWORK COST 6.94 /GSF 121,365 CONSTRUCTION/DESIGN CONTINGENCY 10% 12,137 TOTAL SITEWORK COST 133,502 1 General Requirements: 17,500 GSF 88,283 3 Concrete: 17,500 GSF 9.63 168,540 4 Masonry: 17,500 GSF 6.03 105,500 5 Metals: 17,500 GSF 6.23 108,950 6 Wood & Plastic: 17,500 GSF 2.39 41,825 7 Thermal & Moisture Protection: 17,500 GSF 2.48 43,375 S Doors & Windows: 17,500 GSF 6.83 119,600 9 Finishes: 17,500 GSF 2.07 36,250 10 Specialties: 17,500 GSF 1.69 29,625 11 Equipment: Built-In Equipment 17,500 GSF 0.00 0 12 Furnishings: Casework & Window Treatments 17,500 GSF 0.00 0 13 Special Construction: 17,500 GSF 0.00 0 14 Conveying Systems: 17,500 GSF 2.86 50,000 15 Mechanical Systems: 0.00 0 Sprinkler 17,500 GSF 1.25 21,875 Plumbing 17,500 GSF 3.00 52,500 HVAC 17,500 GSF 11.10 194,250 16 Electrical Systems: 17,500 GSF 7.50 131,250 SUB-TOTAL BUILDING CONSTRUCTION COST 68.10 /GSF 1,191,823 CONSTRUCTION/DESIGN CONTINGENCY 10% 119,182 TOTAL BUILDING CONSTRUCTION COST 1,311,006 Additional Soft Cost: SUB-TOTAL SOFT COST 0 TOTAL SITEWORK COST 133,502 TOTAL BUILDING CONSTRUCTION 1,311,006 PROJECT TOTAL COST 82.54 /GSF 1,444,507 . i UNION CIGAR STORE 330 - 336 MAl N STREET Estimate of Return on Investment CONVENTIONAL FINANCE Purchase price $60,000 Rehab Costs $441,255 Project Costs $501,255 Equity 30% $150,377 Amount to finance $350,879 Net Operating Income Annual Debt Service Cash Flow $18,570 $40,238 ($21,668) 8%, 15yrs Return on Equity minus 14 per cent CITY DOWNTOWN REHAB LOAN Rehab Costs $441,255 less: Facade Grant $10,000 Arch Fees Grant $10,000 $421,255 Dwntwn Rehab Loan $300,000 3%, 20 yrs Equity $150,377 Balance to finance $30,879 8%,15 yrs Years 1-5 Years 5-15 Net Operating Income $18,570 $18,750 Annual Debt Service $12,541 $28,402 Cash Flow $6,029 ($9,652) Return on Equity 4 per cent minus 6 per cent Union Cigar Store 330 - 336 Main Street Net Operating Income RENT AL INCOME First Floor Retail unit A 826 sq ft @ $7.00 $5,782 Retail unit B 1928 sq ft @ $7.00 $13,496 $19,278 Less: vacancy 10% $1,928 $17,350 Second Floor Apt 1 - 1 br @ $375/mo $4,500 Apt 2 - 1 br @ $375/mo $4,500 Apt 3 - eff @ $325/mo $3,900 $12,900 Less: vacancy 10% $1,290 $11,610 Third Floor Apt 1 - 1 br @ $350/mo $4,200 Apt 2 - 1 br @ $350/mo $4,200 Apt 3 - Eff @ $300/mo $3,600 $12,000 Less: vacancy 10% $1,200 $10,800 GROSS RENTS $39,760 OPERATING EXPENSES Insurance Property Taxes (assumed assessed value of $375,000) Utilities Management Maintenance Reserve for replacements TOTAL EXPENSES NET OPERATING INCOME $18,570 $1,500 $10,125 $3,180 $2,385 $2,000 $2,000 $21,190 ~~._U"'"""'~U"U"~_U"~_ _F!b.~ I: , I . ,I '10"'" "r 11,: : I " I i :0- Ii 1111i111 :;, , . . , d '/ I EXISTING' Third Street , 'fH!UmrnmJ. _ . ~ I H K H ;: ...; -I ;: '. 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'? ~ :s:: o o '" o ~ b ~ en ..c -' '-- o z b -' u CD ....., o L lL CITY OF DUBUQUE MEMORANDUM TO: Historic Preservation Commission FROM: ~, .1117 James A. O'Brien, Assistant City Attorney . /C DATE: March 3, 1999 vi SUBJECT: Who may be an applicant Cindy Steinhauser has requested that I provide you with a memorandum discussing the above issue as it relates to the ownership of a parcel. Neither the Historic Preservation Ordinance (Chapter 25 of the City Code) nor the Building Regulation Ordinance (Chapter 11 of the City Code) contain any requirement that the owner be the applicant for a regulated permit or for a Certificate of Appropriateness or Certificate of Economic Hardship. Both Chapters refer simply to "applicant". In fact, Section 11-57 relating to applications for a building permit allows the application to be signed by the permitee or their authorized agent. Chapter 25 seems to contemplate a similar type of system because Section 25-8( c )(2) contemplates submissions by the property owner or the property owner's representative. The above discussion notwithstanding under Iowa law, a person who has entered into a contract of purchase with the owner of a building is also considered an owner. In addition, in a case which the City of Dubuque appealed to the Iowa Supreme Court, the Iowa Supreme Court held that a person with a lease of property has a sufficient ownership interest to apply for a variance even though our ordinance uses the terms "Any person owning property may apply for a variance", If you have any other questions please feel free to contact me. JAO/dms City of Dubuque PUBLIC NOTICE OF MEETING DATE: TIME: PL-\CE: HISTORIC PRESERVATION COMMISSION Monday, March 8, 1999 5:30 P.M. City Hall, Conference Room B 50 W. 13th Street Dubuque, Iowa 52001 Notice is hereby given that the above identified governmental body will meet at the time, date and place as set forth above. The tentative agenda for the meeting is as follows: CALL TO ORDER CERTIFICATE OF COMPLIANCE 1\ lINUTES February 25, 1999 APPLICATION FOR ECONOMIC HARDSHIP 301, 304-310, 320 and 330-336 Main Street Applicant: City of Dubuque ITEMS FROM STAFF ITEMS FROM THE PUBLIC ITEMS FROM COMMISSION ADJOURNMENT This notice is given pursuant to Chapter 21, Code of Iowa and applicable local regulations of the City of Dubuque and/or the governmental body holding the meeting. NOTICE Visually or he:J.l"ing impaired persons needing assistance or persons with special accessibility needs who wish to attend the meeting should contact the Planning Services Department at (319)589-4210 or the Human Rights Department at (319)589-4193 (TDD Number) at least forty-eight (48) hours prior to the meeting. APPLICATION FOR CERTIFICATE OF ECONOMIC HARDSHIP SUPPORTING DOCUMENTATION 330-336 Main Street - Union Cigar Store 1. Rehab Costs. 2. Structural Review. W ve not conduc structural review of this building. However, attached i a_notice of code deficieq.cies issued to the owner by the City's Housing Services Departmen . ce mcludes eleven pages of code problems which were severe enough to require the vacation of Apartment #5 on the second floor and the entire third floor. While the owner has proceeded with certain basic life/safety repairs, the majority of the work remains to be done: including roof repair, floor and wall repair, and provision of adequate light and ventilation for all habitable rooms. 3. Appraisal. 4. Feasibility of Rehab or Reuse. 5. Purchase Price. The City proposes to acquire the property from Bette Dolan for $60,000. 6. Annual Income. 7. Annual Operating Expenses. 8. Property Debt. There is a mortgage secured by the property, however. the property owner will not advise us of the outstanding balance. 9. Appraisal. See #3, above. 1 O. Listin~tneProperty. The property was listed with a Realtor beginning April 1 0, 1998. Th~~ched lettel:-from Realtor Nick Goodman describes the history of the property's maiketing. y{bile-approximately twelve qualified buyers viewed the property, no written offers were received, other than the City's. 11. Assessed Value. The assessed value of the property for each of the last two years is $88,000. 12. Property Taxes. The property taxes for the 1998 were $2,674 and for 1999 they are $2,444. The owner is current with taxes except for the payment which is due March 31. Community and Economic Development Department 50 West 13th Street Dubuque, Iowa 52001-4864 TIiECTTYOF~ DUBtJQUE ~~~ March 4, 1999 City of Dubuque Historic Preservation Commission City Hall 50 W. 13th Street Dubuque, IA 52001 RE: 304-320 Main Street - Merchants' Hotel 330-336 Main Street - Union Cigar Store Honorable Chair and Commission Members: At its meeting of March 1, the City Council approved offers to purchase the former Merchants Hotel and Union Cigar Store buildings. These offers are conditioned upon the City obtaining a Certificate of Economic Hardship to demolish the two buildings. Therefore, on behalf of the City Council, I am submitting the attached application for Certificate of Economic Hardship for the former Merchant's Hotel building at 304-320 Main Street and the former Union Cigar Store at 330-336 Main Street. Since 1993, neighborhood property o\\'ners and businesses, Dubuque Main Street, Ltd., and the City have been working in partnership to foster the revitalization of the Old Main District. A reinvestment strategy was adopted in 1994. The adjoining urban renewal district was expanded to include the area so that tax increment financing could be utilized. An intensive code inspection program was initiated with the support of property owners. A loan and grant program for building rehab was established and recapitalized. Overhead wires were removed along the District's freeway frontage. A marketing plan was prepared. And designs are being prepared for gateway improvements to the area. In response. owners and businesses have invested in their properties and are participating in the development of additional projects for Old Main. The Cinema X which was identified as a major blighting intluence has been closed and a new owner has renovated the building for retail and residential use. Despite these etTorts. n key intersection - Third and Main Streets - remains in a blighted condition. The buildings on three of the four comers have been vacant for a number of years. The deteriorated condition of the former Merchants Hotel building and its partial occupancy by nn adult bookstore has been identified as a major deterrent to further investment in surrounding buildings. And without a cooperative, investment-oriented owner, our code enforcement efforts have only succeeded in making this condition a bit safer. S~rvtc~ P~ople Integrity Responsibility Innovation Teamwork Clearly, the solution to this problem, as in the case of the Cinema X building, is to get the property into the hands of an owner who is willing and able to improve this space. With this in mind, staff negotiated the terms of a purchase of the Merchant's with the trustees of the former owner's estate. We also presented to the Chamber of Commerce site committee a concept for relocating to the Merchant's site. . The Chamber agreed that this location would be good for their offices and the Welcome Center. However, based on their evaluation, they would have to remove the exiting building and construct a new building to meet their needs. They have also determined that they would need an access for vehicles from Main Street to the City's proposed parking ramp to the east. This would require that the former Union Cigar Store adjoining the Merchant's also be acquired and removed. Attached is a concept drawing of the Chamber's proposal. Weare still assembling information in support of our request and expect to have most of it for your meeting on Monday, March 8. However, we are enclosing the background information we have available now to help you prepare. Thank you for your consideration of this matter. Sincerely, cALvW0v\L tames Burke . I u-ector '-" APPLICATION FOR CERTIFICATE OF ECONOMIC HARDSHIP SUPPORTING DOCUMENTATION 304-320 Main Street - Merchants Hotel 1. Rehab Costs. Attached is an estimate of the cost to rehab the building prepared by Durrant Architects. The rehab plan includes the removal a rear portion of the building which is structurally failing as described in the analysis referred to below. The costs include construction of a small addition to enclose a new elevator and circulation area to compensate for the difference in floor elevations within the building. Also included is the cost to reestablish a comer tower feature on the building. The total estimated construction cost is $1,444,507. 2. Structural Review. Attached are two letter reports from IIW Engineers describing the structural condition of the building. The report dated May 23, 1997, describes the deteriorated condition of the building which includes: foundation failure in the southeast comer of the building, extensive water damage to the wood structure throughout, cracking and bulging of masonry, and significant floor areas out of level. A $250,000- $500,000 range of cost to repair was noted. The letter report dated April 2, 1998, further clarifies the foundation problem. It states that the failure is occurring in the rear half of the building, fronting on the alley. The west end of the building which fronts on Main Street is not showing the kind of failure observed in the rear. 3. Appraisal. Attached are excerpts form an appraisal of the property provided by Felderman Appraisals. The appraiser determined a value "as is" of $119,000. The value with the rear portion removed would be $99, 120. 4. Feasibility of Rehab or Reuse. 5. Purchase Price. The City proposes to acquire the property from the William Hos Estate for $20,000. 6. Annual Income. The Gentlemen's Book Store is the only tenant in the building, occupying approximately 1,200 square feet of space. 7. Annual Operating Expenses. 8. Property Debt. There is no mortgage or other financing secured by the property. 9. Appraisal. See #3, above. 10. Listing of the Property. The property was listed with a Realtor in 1998. 11. Assessed Value. The assessed value of the property for each of the last two years is $87,520. 12. Property Taxes. The property taxes for the 1998 were $2,304 and for 1999 they are $2,520. The owner is current with taxes according to the County Treasurer's Office. 13. Form of Ownership. Currently, the owner of the property is an estate. 14. Other Information. APPLICATION FOR CERTIFICATE OF ECONOMIC HARDSHIP SUPPORTING DOCUMENTATION 330-336 Main Street - Union Cigar Store 1. Rehab Costs. 2. Structural Review. We have not conducted a structural review of this building. However, attached is a notice of code deficiencies issued to the owner by the City's Housing Services Department. This notice includes eleven pages of code problems which were severe enough to require the vacation of Apartment #5 on the second floor and the entire third floor. \Vhile the owner has proceeded with certain basic life/safety repairs, the majority of the work remains to be done: including roof repair, floor and wall repair, and provision of adequate light and ventilation for all habitable rooms. 3. Appraisal. 4. Feasibility of Rehab or Reuse. 5. Purchase Price. The City proposes to acquire the property from Bette Dolan for $60,000. 6. Annual Income. 7. Annual Operating Expenses. 8. Property Debt. There is a mortgage secured by the property, however, the property owner will not advise us of the outstanding balance. 9. Appraisal. See #3, above. 10. Listinl; (If the Propert\'. The property was listed with a Realtor beginning April 10, 1998. The attached letter from Realtor Nick Goodman describes the history of the property's marketing. \Vhile approximately twelve qualified buyers viewed the property, no written otTers were received, other than the City's. II. Assessed Value. The assessed value of the property for each of the last two years is $88,000. 12. Property Taxes. The property taxes for the 1998 were $2,674 and for 1999 they are $2.444. The owner is current with taxes except for the payment which is due March 31, according to the County Treasurer's Office. 13. Form ofO\\'l1ership. Currently, the owner of the property is an individual. 14. Other Information. C:\B URKE\DOCS\MERCAPP. WPD APPLICATION FOR CERTIFICATE OF ECONOMIC HARDSHIP SUPPORTING DOCUMENTATION 304-320 Main Street - Merchants Hotel 1. Rehab Costs. Attached is an fstimate of the cost to rehab the building prepared by J:Lurrant Architects_ The rehab plan includes the removal a rear portion of the building which is structurally failing as described in the analysis referred to below. The costs include construction of a small addition to enclose a new elevator and circulation area to compensate for the difference in floor elevations within the building. Also included is the cost to reestablish a comer tower feature on the building. The total estimated construction cost is $1,444,507. _______ Structural Review. Attached are tw'oJetter reports from IIW Engin~eSCribing the ----- structural condition of the building. The report dated May 23, 1997, describes the deteriorated condition of the building which includes: foundation failure in the southeast comer of the building, extensive water damage to the wood structure throughout, cracking and bulging of masonry, and significant floor areas out of level. A $250,000- $500,000 range of cost to repair was noted. 2. 3. The letter report dated April 2, 1998, further clarifies the foundation problem. It states that the failure is occurring in the rear half of the building, fronting on the alley. The west end of the building which fronts on Main Street is not showing the kind of failure observed in the rear. Appraisal. Attached are,;';:~praisal of the property provided by Felderman Appraisals. The--apprmser determined a value "as is" of$119,000. The value with the rear portion removed would be $99, 120. 4. Feasibilitv of Rehab or Reuse. 5. Purchase Price. The City proposes to acquire the property from the William Hos Estate for $20,000. 6. Annual Income. The Gentlemen's Book Store is the only tenant in the building, occupying approximately 1,200 square feet of space. 7. Annual Operating Expenses. 8. Property Debt. There is no mortgage or other financing secured by the property. 9. Appraisal. See #3, above. 10. Listing of the PropertY. The property was listed with a Realtor in 1998. 11. Assessed Value. The assessed value of the property for each of the last two years is $87,520. 12. PropertY Taxes. The property taxes for the 1998 were $2,304 and for 1999 they are $2,520. The owner is current with taxes according to the County Treasurer's Office. 13. Form of Ownership. Currently, the owner of the property is an estate. 14. Other Information. . VNO'rbWla I- (ffi) . l# NOlliI;;';f8OOW3l1 ~ ~ I II I I I I I 13.l0H S.lNVH::>~3W c m i! h 1.1.1,1.1.1. I. ! II' I i.ii II l'~ II . YMCll1nbrwla 1- (ffi) I II!. I . UNOU.dO~~ ~ ' "",1 I . I . /I 1310H SlNVHJ~3W IS m ;1 hI. I. L. 1.1.,. I IJ i I II 1 I ll'~ II 0 . 0 0 . 0 . - . ~ , 1% Yo I -~ I fffi1 I III' I! ~ 01 tlNOU.cIO~ i m d' I1111111 I l'llll" .'1'. I~ 1310H SlNVH:>~3W 6 ,! h . .1. ..1.1... I L I + I bn:[J [JCI 0 crill UIC ~ a:r:::ID 0 0 a:r:::ID J - . ~ ----1 u~~ I lam-In " 111111 II 131.0H SlNVH:)}l3W ~ I! 111.1.1... 1.1.1. I I I I . 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STATEMENT OF PROBABLE COST Page - 1 - DURRANT CONSTRUCTION MANAGEMENT Owner: City of Dubuque Project: Merchant Hotel Project No. 98238.00 Time: Date: Estimator: 09:27 AM 6/8198 SRR & FJK CSI QUANTITY UNIT TOTAL DIV. DESCRIPTION NO. UNIT COST COST Description: Remodel and Addition to Wood Frame Structure 17 ,500 GSF Building Construction Costs: 1 General Requirements: 17,500 GSF 0.00 8,990 2 Sitework: Demolition & Site Improvements 17,500 GSF 5.82 101,875 Site Utility Work 17,500 GSF 0.60 10,500 SUB-TOTAL SITEWORK COST 6.94 /GSF 121,365 CONSTRUCTION/DESIGN CONTINGENCY 10% 12,137 TOTAL SITEWORK COST 133,502 1 General Requirements: 17,500 GSF 88,283 3 Concrete: 17,500 GSF 9.63 168,540 4 Masonry: 17,500 GSF 6.03 105,500 5 Metals: 17,500 GSF 6.23 108,950 6 Wood & Plastic: 17,500 GSF 2.39 41,825 7 Thermal & Moisture Protection: 17,500 GSF 2.48 43,375 8 Doors & Windows: 17,500 GSF 6.83 119,600 9 Finishes: 17,500 GSF 2.07 36,250 10 Specialties: 17,500 GSF 1.69 29,625 11 Equipment: Built-In Equipment 17,500 GSF 0.00 0 12 Furnishings: Casework & Window Treatments 17,500 GSF 0.00 0 13 Special Construction: 17,500 GSF 0.00 0 14 Conveying Systems: 1 7,500 GSF 2.86 50,000 15 Mechanical Systems: 0.00 0 , Sprinkler 17,500 GSF 1.25 21,875 Plumbing 17,500 GSF 3.00 52,500 HVAC 17,500 GSF 11.10 194,250 16 Electrical Systems: 17,500 GSF 7.50 131,250 SUB-TOTAL BUILDING CONSTRUCTION COST 68.10 /GSF 1,191,823 CONSTRUCTION/DESIGN CONTINGENCY 10% 119,182 TOTAL BUILDING CONSTRUCTION COST 1,311,006 Additional Soft Cost: SUB-TOTAL SOFT COST 0 TOTAL SITEWORK COST 133,502 TOTAL BUILDING CONSTRUCTION 1,311,006 PROJECT TOTAL COST 82.54 IGSF 1,444,507 STATEMENT OF PROBABLE COST Page - 2 - DURRANT CONSTRUCTION MANAGEMENT Owner: City of Dubuque Project: Merchant Hotel Project No. 98238.00 Time: Date: Estimator: 09:27 AM 6/8/98 SRR & FJK CSI QUANTITY UNIT TOTAL DIV. DESCRIPTION NO. UNIT COST COST Division 1 - GENERAL REQUIREMENTS 0.00 0 DIVISION 2 - SITEWORK (Demo,Excav & Site Improve) 02010 Subsurface Investigation 17,500 SF 0.25 4,375 02050 Demolition 102.000 CF 0.75 76,500 02200 Earthwork 17,500 SF 0.50 8,750 02500 Paving and Surfacing 250 SY 35.00 8,750 02800 Site Improvements 17,500 SF 0.10 1,750 02900 Landscaping 17,500 SF 0.10 1,750 5.82 101,875 DIVISION 2 - SITEWORK (Site Utility Work) 02700 Sewerage and Drainage 17,500 SF 0.50 8,750 02780 Power and Communications 17,500 SF 0.10 1,750 0.60 10,500 DIVISION 3 - CONCRETE 03300 Cast-in-place Concrete - SOG 4,650 SF 3.50 16,275 03300 Cast-in-place Concrete - 3" Topping for Floors in Building Addition 2,800 SF 2.75 7,700 03300 Cast-in-place Concrete - Frost Wall Foundation 180 LF 75.00 13,500 03300 Cast-in-place Concrete - Spread Footings 6 EA 250.00 1,500 03300 Cast-in-place Concrete - Columns @ Parking Structure 132 VLF 150.00 19,800 03300 Cast-in-place Concrete - Spread Footings for Columns 15 CY 175.00 2,625 03300 Cast-in-place Concrete - Stair @ Existing Parking 115 LF Nose 100.00 11,500 03300 Cast-in-place Concrete - Stair @ Southeast Corner of Patio 40 LF Nose 45.00 1,800 03300 Cast-in-place Concrete - Miscellaneous 1 LS 15,000 03400 Precast Concrete - Precast Double Tee/Beams w/ 2" Topping @ 5,310 SF 14.00 74,340 03700 Concrete Restoration and Cleaning 3,600 SF 1.25 4,500 9.63 168,540 DIVISION 4 - MASONRY 04200 Unit Masonry - Brick Veneer w/ CMU Back-up 3,000 SF 22.00 66,000 04200 Unit Masonry - CMU Elevator Shaft 800 SF 7,50 6,000 04200 Unit Masonry - Split Face Wall @ Perimeter of Parking Garage 1,500 SF 9,00 13,500 04200 Unit Masonry - Parapet Cap 200 LF 10.00 2,000 04500 Masonry Restoration and Cleaning 3,600 SF 5.00 18,000 6.03 105,500 DIVISION 5 - METALS 05100 Structural Metal Framing - Building Addition 25 Tons 2,000.00 50,000 05100 Structural Metal Framing - Overhead Walkway 3 Tons 2,500.00 7,500 05200 Metal Joists - Structure for Standing Seam Roof 900 SF 8,00 7,200 05300 Metal Decking 4,500 SF 2.25 10,125 05500 Metal Fabrications 17,500 SF 0.75 13,125 05700 Ornamental Metal 17,500 SF 1.10 19,250 05800 Expansion Control 17 ,500 SF 0.10 1,750 6.23 108,950 STATEMENT OF PROBABLE COST Page - 3 - DURRANT CONSTRUCTION MANAGEMENT Owner: City of DubUi:!ue Project: Merchant Hotel Project No. 98238.00 Time: Date: Estimator : 09:27 AM 6I8J98 SRR & FJK CSI QUANTITY UNIT TOTAL DIV. DESCRIPTION NO. UNIT COST COST DIVISION 6 - WOOD AND PLASTICS 06100 Rough Carpentry - Repair of Existing 17,500 SF 0.50 8,750 06100 Rough Carpentry - Floor Sheathing 13,300 SF 1.50 19,950 06130 Heavy Timber Construction - Repair of Existing 17,500 SF 0.50 8,750 06200 Finish Carpentry 17,500 SF 0.25 4,375 2.39 41,825 DIVISION 7 - THERMAL AND MOISTURE PROTECTION 07150 Dampproofing 17,500 SF 0.10 1,750 07200 Insulation - Wall 10,000 SF 0.75 7,500 07400 Preformed Roofing and Cladding/Siding 17,500 SF 0.60 10,500 07500 Membrane Roofing - EPDM w/lnsulation and Flashing 5,000 SF 3.50 17,500 07600 Flashing and Sheet Metal 17,500 SF 0.25 4,375 07900 Joint Sealers 17,500 SF 0.10 1,750 2.48 43,375 DIVISION 8 - DOORS AND WINDOWS 08100 Metal Doors and Frames 6 SF 450.00 2,700 08200 Wood and Plastic Doors 8 EA 350.00 2,800 08400 Entrances and Storefronts 2 EA 2,500.00 5,000 08700 Hardware 14 EA 250.00 3,500 08800 Glazing 2,640 SF 40.00 105,600 6.83 119,600 DIVISION 9 - FINISHES 09250 Gypsum Board 15,000 SF 1.40 21,000 09300 Tile - Restrooms 1,000 SF 6.50 6,500 09900 Painting 17,500 SF 0.50 8,750 2.07 36,250 DIVISION 10. SPECIALTIES 10200 Louvers and Vents 17,500 SF 0.25 4,375 10700 Exterior Sun Control Devices - Perimeter Awning 1 ,450 SF 15.00 21,750 10800 Toilet and Bath Accessories 17,500 SF 0.10 1,750 10900 Wardrobe and Closet Specialties 17,500 SF 0.10 1,750 1.69 29,625 DIVISION 11 - EQUIPMENT 0.00 0 DIVISION 12 - FURNISHINGS 0.00 0 STATEMENT OF PROBABLE COST Page - 4 - DURRANT CONSTRUCTION MANAGEMENT Owner: City of Dubuque Project: Merchant Hotel Project No. 98238.00 Time: Date: Estimator : 09:27 AM 6/8198 SRR & FJK CSI QUANTITY UNIT TOTAL DIV. DESCRIPTION NO. UNIT COST COST DIVISION 13 - SPECIAL CONSTRUCTION 0.00 0 DIVISION 14 - CONVEYING SYSTEMS 14200 Elevators 1 EA 50,000.00 50,000 2.86 50,000 0 DIVISION 15 - MECHANICAL (Sprinkler) 15300 Fire Protection 17,500 SF 1.25 21,875 1.25 21,875 DIVISION 15 - MECHANICAL (Plumbing) 15400 Plumbing 17,500 SF 3.00 52,500 3.00 52,500 DIVISION 15 - MECHANICAL (HVAC Systems) 15500 Heating, Ventilating, and Air Conditioning (HVAC) 17,500 SF 9.00 157,500 15950 Controls 17,500 SF 2.00 35,000 15990 Testing, Adjusting, and Balancing 17,500 SF 0.10 1,750 11.10 194,250 DIVISION 16 - ELECTRICAL 16300 High Voltage Distribution (above 60D-volt) 17 ,500 SF 2.50 43,750 16400 Service and Distribution (600-volt and below) 17,500 SF 2.00 35,000 16500 Lighting 17,500 SF 3.00 52,500 I 7.50 131,250 111"'ENGiNEERS AND WI SURVEYORS P.e. 23 May 97 :Cirl B. Schoennara. J:.. ~s Denr.:s F. Waugn. PE. :::: Chanes A. Cate. PE Gary D. Sejkora. PE Ross K. Abbott. LSIT Michael A. Jansen. PE. SE Ronala A. Balmer. PE. SE. AlA .John M. Tranmer. LS RichariJ J. Byrne. PE Raben C. Fay. PE Kennetn A. Holle. PE .1155 Pennsy:';a'la A.. 2. . Dubuque. IA 52002.2628 . (31 91 555.24~ . =,x (319) 556.761 i Building Safety Department Dubuque City Hall 13th & Central Dubuque, IA 52001 Attn: Dave Shurts Re: 300-320 Main (Merchants Hotel) and 190 Main (Cinema X) IIW Project #97006-06 Dear Mr. Shurts: This report is a follow up to our initial report, dated 31 Mar 97, regarding the above referenced and should be considered supplemental to it. The initial report raised several exterior issues which we were unable to fully diagnose at the time without additional internal structural information. We visited the above referenced b1ljJdingo;: with you again, under the authority of a search warrant, the morning of 08 May 97 in order to collect the needed structural information. The intent of our visit to the interior of the buildings was not to collect intricate information for an intense analytical' analysis of the structural capacity of each building component, but to provide a general overall review of the structural condition of the building and prO\ide opinions in'tenns of cost ramifications for repairing structural deficiencies, if any, that we found. The following report is a summary of our findings primarily addressing the interior conditions observed. 300-320 Main (Merchants Hotel) The existing multi-story building presumably dates from the late 19th century and consists of load-bearing brick masonry exterior walls, limestone foundations, and wood framed internal superstructure. The ground level of the front (west) side is one floor higher than the rear (east) side and the sidev.alk on Third Street ramps aO\\TI along the south side of the building. The overall structure in question acwally consists of the first three (3) buildings north of Third Street on the east side of Main Street. In addition to the primary basement at grade on the east side of the building there is also a sub-basement at the east end of the south building. Our observations of the interior of the building began at the basement level. A limestOne foundation wall extends east-west down the center of the basement supporting a central bearing wall extending up through the building. Along this wall, openings had been cut which exposed the rubble fill between the two mortared stone facing wythes. The rubble fill is unable to retain any significant load carrying capacity at the jambs of these openings due to a loss of confinement and is progressively falling out of the cavity. As the rubble fill is lost the mortared facing wythes are being loaded eccentrically, and more heavily, which is causing them to rupture outward. This condition appears to be progressing slowly at this time, but, if not addressed appropriately, will ultimately result in an internal structural collapse which could easily telegraph along an ever i:lcrcasing length or this interior bearing wall in a "zipper" effect. Tb: coiiapsc of this interior bearing wall at the basement level will have significant effects throughout the building. We also observed several heavy timber wood columns which appeared to be bearing directly on the concrete floor siab which was displaying signs of shear and bearing failure. IIW Engineers and Surveyors. P.C. Serving Iowa. IllinOIS. and WisconSin P.O. Box 275 · Galena. IL 61036 · (815) 777-0359 302 South River Park. Guttenberg, IA 52052 . (319) 252.3823 1638 Thomas. Hazel Green, WI 53811 · (608) 748-4308 ~erchamsJCinema X 23 Mav 97 Page #2 The sub-basement is located at the east end of the building, mostly south of the center bearing ....'all referred to above. In a small room on the north side of the center bearing wall. accessed through an opening in the stone wall, there was evidence of fire damage and collapsed wood floor framing of the basement floor above. This collapse was not immediately evident in the floor structure of the basement. so we conclude that some type of repair was made in this area without removing the damaged framing below. At the far southeast comer of the sub-basement there was a pile of collapsed brick with daylight visible through the upper portion of the wall. The cause for this collapse was not immediately evident. but we would speculate that it is a combination of effects including lateral soil pressure, framing and \\'all loads from above, foundation settlement. and deteriorated mortar from chronic water leakage. In our initial report we theorized that the cracking and bulging in the masonry at the lower reaches of the east wall might be associated with racking due to pem:trations through the foundz.ticn \\-'all and differential soil pressures from the front to the back of the building. We did not find evidence of this particular condition. However, after viewing the collapsed brick in the sub-basement we sighted along the south wall of the building looking east and discovered that the east end of the building drops off significantly in a long arc. This observation would indicate a likely foundation settlement condition. Also included in our previous report was an observation of a vertical joint between the front and back halves of the south building, indicating that they might have been constructed at different times. The joint widens as it goes up and appears to have been filled with mortar at the time of the cleaning and tuck-pointing which is now spalling out. Foundation settlement at the east end of the building would explain the widening of this crack as the building gradually leans eastward. In addition to arcing down, the east end of the south wall also curves out to the south. This large scale rotation of the southeast comer of the building is likely to be the source of the cracking and bulging observed near the center of th:e e:lSt wall of the building, rather than our preliminary speculation of racking due to differential soil pressures. As we progressed up through the interior of the building the most obvious problems were the result of extensive water leakage which had destroyed finishes and rotted wood framing members. The presence of water weakens wood in addition to promoting rot. While the south face of the building had been tuckpointed and cleaned, none of the other exterior walls, including chimneys and courtyards, appeared to have been JTIajnt~jned in any way which has resulted in extensive mortar joint deterioration. The loss of mortar significantly weakens masOD.."Y ......a.iU for gra....-it'f ....-.d bieTGJ load re:;istance. Significant flovr areas were perceptibly out of level which is usually indicative of bearing failure of wood framing members, foundation settlement. or a combination thereof. The upper levels of the building were largely abandoned with only minimal loading from miscellaneous furniture. The lower levels, including the basement. first floor, and parts of the second floor, were heavily loaded with stored items of various origin. While specific measurements of weights and corresponding supporting framing members were not taken. it was our general impression that the structural capacity of the floors in several areas of the building are being exceeded by the storage occupancy currently in place. For example, the UBC speci5f.3 alive load ')f 40 psffcr resid~ntial o::c~pancy and 125 pffor light storage occupancy. The vintage of this building would lead us to believe that it probably was not "designed" for a specific loading criteria, however, our observations of similar vintage timber industrial buildings specifically constructed to resist heavy loads display much more substantial construction than the 2x floor joists in this building. Merchants/Cinema X 23 May 97 Page #3 At the nonh section of the building, 320 Main, we observed the conditions at the first t100r entered from Main Street. Our observations included floors out of level. floor coverings buckled and delaminated from the floor deck, and other signs of significant water penetration. In our opinion the work required to restOre this building to overall structural integrity would include, but not necessarily be limited to, stabilizing the foundation settlement problem at the southeast comer including repairing the collapsed brick in the sub-basement. repairing and reinforcing the interior limestone foundation wall, providing adequate foundations for the interior heavy timber columns, reroofing with appropriate flashing~ and parapet caps, tuckpointing deteriorated mortar joints and replacing soft or damaged brick, and replacing rotted wood framing members. In terms of cost we would expect the items listed above to run well into the 5250,000 to $500,000 range, or more, depending on the means of foundation stabilization deemed necessary. 190 Main (Cinema X) The existing building presumably dates from the early 20th century and consists of load-bearing brick masonry exterior walls, limestone foundations, and wood framed floors and roors. The ground level of the front (west) side is one floor higher than the rear (east) side and there are brick masonry party walls to adjacent buildings on the north and south sides. A significant vertical crack was observed in the nonh foundation wall at approximately mid-depth of the east basement room. There did not appear to be any other significant structural distress associated with this crack. The primary internal structural problems with this building were concentrated at the upper levels where chronic water penetration has caused deterioration of the wood framing members. At the east end of the building we were able to observe exposed wood framing members which appeared to be significantly undersized for the spans and loading conditions involved. In our opinion the work required to restOre this building to overall structural integrity wouid include. but not necessarily be limited to, reroofing with appropriate flashings and parapet caps, tuckpointing deteriorated mortar joints and repiacing soft or damaged brick. and replacing rotted wood framing members. In terms of cost we would expect the items listed above to run in the $100,000 to $200,000 range. I hereby certify that this repon was prepared by me and that I am a duly licensed Professional Engineer under the laws of the State ofIowa. for IIW ENGINEERS AL'ID SURVEYORS, P.c. ~;!(~~ Ronald A. Balmer, P .E. Director of Architectural Enginet:rJl3 IA PE #11261, Renewal Date Dee 97 III"'ENGINEERS AND WI SURVEYORS P.C. 02 Apr 98 Carl B. Schoenhard. Jr.. lS Dennis F. Waugh. PE. SE Charles A. Cate. PE Gary D. Sejkora, PE Ross K. Abbott, lSIT Michael A. Jansen. PE. SE Ronald A. Balmer, PE, SE, AlA John M. Tranmer, lS Richard J. Byrne, PE Robert C. Fay, PE Timothy J. Tranel, PE John F. Wandsnider, PE 4155 Pennsylvania Ave. . Dubuque, IA 52002-2628 . (319) 556-2464 . Fax (319) 556-7811 Building Safety Department Dubuque City Hall 13 th & Central Dubuque, LA 5200 I Attn: Steve Neyens Re: 300-320 Main, Merchant's Hotel IIW Project #97006-06 Dear Steve: In accordance with your verbal request we have reviewed the structural condition of the above referenced to evaluate the safety of continued occupancy. The only portion of the structure which is currently occupied is the Gentleman's Book Store at 306 Main which is approximately 20' wide and 60' deep on the ground floor entered from the Main Street (west) side. We visited the site, with interior access, for the purposes of this evaluation the morning of 02 Apr 98 to observe the existing conditions. Our previous visit to the interior of the building took place 08 May 97 with a search warrant. It is our opinion that the general structural condition of the building has not substantially changed since our last visit. The most significant structural problems with the building are concentrated at the rear half, fronting the alley on the east. The building appears to have been constructed in at least two phases with the west end being constructed first and the east end last. The west end of the structure is in reasonably good condition, consisting of masonry bearing waIls and heavy timber framing, and the east end is in relatively poor condition, consisting of masonry bearing walls with steel framing at first floor. The transition in framing systems occurs at the interior stair providing access to the basement and corresponds to a full height vertical joint on the exterior south wall. This change in superstructure also appears to correspond ",ith the back wall of the occupied area. In our opinion tlle west end appears to have been free standing at one time and is in acceptable SUUcturdl condition. It does not suffer from the same problems as the east end of the building which are largely related to foundation instability and modifications to interior bearing walls without appropriate reinforcement provisions. The east end of the building can be considered separate from the west end of the building for structural evaluation purposes. We do not feel that there is sufficient structural justification for evacuating the west end of the building at this time. Inquiries have been made of us regarding the viability of the overall structure and the costs related to making it safe for occupancy. We have provided some general guidance as to necessary structural improvements to the east end of the building, however, these conversations have generally taken an all-or- nothing approach. In our opinion there is merit to investigating demolition of only the east end of the building, which has the most significant structural concerns, and restoration of the west end. This would succeed in preserving the oldest and most viable part of the structure fronting Main Street, maintaining the historic fabric of downtown, while eliminating the significant structural hazards associated with the eastGend. The costs associated with this approach would be largely related to cosmetic restoration of the west end and protection of it during demolition of the east end. Structural considerations related to restoration of the original west end of the building would be primarily related to replacement of any rotted wood framing IIW Engineers and Surveyors, P.C. Serving Iowa. Illinois, and Wisconsin P.O. Box 275 · Galena. IL 61036 · (815) 777-0359 302 South River Park. Guttenberg, IA 52052 . (319) 252-3823 1638 Thomas' Hazel Green. WI53811 . (608) 748-4308 Mercbants Hote! 02 Apr 98 Page #2 in the upper reaches of the building and isolated minor foundation repairs. These considerations would have a relatively minimal cost impact We would be available to discuss this option in greater detail if desired by the current owner or City Staff. I hereby certify that this report was prepared by me and that I am a duly licensed Professional Engineer under the laws of the State of Iowa. ;k#;;Z~ Ronald A Balmer, P.E. Director of Architectural Engineering IA PE #11261, Renewal Date Dee 99 APPLICATION FOR CERTIFICATE OF ECONOMIC HARDSHIP SUPPORTING DOCUMENTATION 330-336 Main Street - Union Cigar Store 1. Rehab Costs. 2. Structural Review. W ve not conduc structural review of this building. However, attached i a_notice of code deficieI}Cies issued to the owner by the City's Housing Services Departmen . Ice mcludes eleven pages of code problems which were severe enough to require the vacation of Apartment #5 on the second floor and the entire third floor. While the owner has proceeded with certain basic life/safety repairs, the majority of the work remains to be done: including roof repair. floor and wall repair, and provision of adequate light and ventilation for all habitable rooms. 3. Appraisal. 4. Feasibility of Rehab or Reuse. 5. Purchase Price. The City proposes to acquire the property from Bette Dolan for $60,000. 6. Annual Income. 7. Annual Operating Expenses. S. Property Debt. There is a mortgage secured by the property, however. the property owner will not advise us of the outstanding balance. 9. Appraisal. See #3, above. 10. Listinc.(}ftfiePropertv. The property was listed with a Realtor beginning April 10. 1998. Th 'l.!1achedktter from Realtor Nick Goodman describes the history of the property's m ing. . pproximately twelve qualified buyers viewed the property, no written offers were received, other than the City's. II. Assessed Value. The assessed value of the property for each of the last two years is $88.000. 12. Property Taxes. The property taxes for the 1998 were $2.674 and for 1999 they are $2.444. The owner is current with taxes except for the payment which is due March 31. according to the County Treasurer's Otllce. 13. Form of Ownership. Currently, the owner of the property is an individual. 14. Other Information. C:\BURKE\DOCS\MERCAPP. WPD .. HOUSJn~ Servlc~ Division 1.:'05 Central :\venue Dubuque. IOWJ 5~lJu I U l~) 5S.J-.r~30..'4~.31 5~~~E ~~~ NOTICE OF ORDINANCE VIOLATIONS AND AN ORDER TO ABATE SUCH VIOLATIONS BETTY DOLAN 3067 SHIRAS AVE DUBUQUE, IA 52001 RE: 330 MAIN ST M598 - 9/6VUNIT/UNITS 97-01563 TO THE ABOVE NAMED: BETTY DOLAN YOU ARE HEREBY NOTIFIED that the undersigned City of Dubuque Official did perform a cursory inspection of the real property below and has determined that certain conditions noted there are in violation of Chapter 26 of the Code of Ordinance of the City of Dubuque, Iowa. Description of premises: CITY LOT 10 330-332 MAIN The aforementioned inspection was performed 09/15/98 in response to a mandated general housing inspection and the inspecting officials findings are as follows: (See attached list of violations.) A reinspection is scheduled for 11/30/98 at 09:00. If the above date or time is inconvenient, please call Housing Services at 589-4231 to reschedule. The manner for correcting the noted violations shall be as follows: Violations must be repaired as required by the City of Dubuque Housing Ordinance. Repairs must be completed by 11/30/98 at 09:00. Failure to correct violations will result in further action by the City, including ordering repairs and a lien filed against the property. NOTICE: Prior to beginning any work you should check with the Building Department (589-4150) and the Historic Preservation Commission (589-4213) to determine if a permit is required. ....,., \ 1\ ~' !'t'\'pll' Inh...~rtt\. I\"'ron"bd,tv Inno\'~tl(m T l'J m work Housing Services Division J.~05 Central :\venue Dubuque. Iowa 5200 I (J 19) 589.-1230/-1231 5~~~E ~~~ NOTICE TO VACATE BETTY DOLAN 3067 SHIRAS AVE DUBUQUE, IA 52001 RE: 330 MAIN ST - STORE FRONT, #5 ON 2ND FLOOR & ENTIRE 3RD FLOOR M598 97-01563 TO THE ABOVE NAMED: BETTY DOLAN YOU ARE HEREBY NOTIFIED that the undersigned City of Dubuque Official did perform a cursory inspection of the real property below and has determined that certain conditions noted there are in violation of Chapter 26 of the Code of Ordinance of the City of Dubuque, Iowa. Description of premises: CITY LOT 10 330-332 MAIN The aforementioned inspection was performed 09/15/98 in response to a general housing reinspect ion and the inspecting officials findings are as follows: THESE UNIT/UNITS HAVE BEEN DECLARED TO BE SUBSTANDARD TO THE EXTENT THAT IT ENDANGERS LIFE, LIMB, HEALTH, PROPERTY, OR WELFARE OF THE PUBLIC OR OCCUPANTS. AFTER THE RECEIPT OF THIS NOTICE DO NOT OCCUPY OR USE FOR RESIDENTIAL PURPOSES UNTIL CORRECTIONS ARE MADE AND WRITTEN CONSENT IS OBTAINED FROM THE CITY OF DUBUQUE HOUSING SERVICES DEPARTMENT. (See Attached List of Violations) A reinspect ion is scheduled for 11/30/98 at 09:00. If the above date or time is inconvenient, please call Housing Services at 589-4231 to reschedule. Prior to beginning any work you should check with the Building Department (589-4150) and the Historic Preservation Commission (589-4213) to determine if a permit is required. YOU ARE FURTHER ADVISED that failure to set up a time schedule to correct said violations, or failure to comply with any such mutually agreed upon time schedule will result in further action by the City, including the issuance of a citation and the assessment of a civil St.'r\'lll' rl'llplt.' Intn..:nty Rl'~rlln"bditv [nnov..ltion Tl'..1InWt,lrk penalty. Each day that a violation occurs or is permitted to exist constitutes a separate offense. Dated this date - 09/15/98. a;;;;~ THOMAS J. SMITH Housing Services Department cc: file - 2 YOU ARE HEREBY ORDERED to commence correction of the violations cited herein one (1) day from the date of service of this Notice and Order and to complete the correction of the violations cited herein by 11/30/98 at 09:00. YOU ARE FURTHER ADVISED that failure to correct the noted violations within the time specified or failure to set up a time schedule to correct said violations within the time specified will result in further action by the City, including the issuance of a citation and the assessment of a civil penalty. Each day that a violation occurs or is permitted to exist constitues a separate offense. Dated 09/25/98. Sincerely, ~ THOMAS J. SMITH Housing Services Department cc: file - 2 97-01563 OLD MAIN EACH CODE DEFICIENCY WILL BE IDENTIFIED BY LOCATION, CODE SECTION, CODE IN VIOLATION AND THE EXPECTED REMEDY TO BE COMPLETED. PLEASE REVIEW THE COMMENT SECTION AT THE END OF THIS REPORT WHICH MAY FURTHER CLARIFY THE SPECIFIC VIOLATION AND THE SPECIFIC REMEDY EXPECTED. *. 330 MAIN ST .. --LOCATION OF VIOLATION-- --CODE IN VIOLATION-- --CODE SECTION-- --REMEDY EXPECTED TO BE COMPLETED-- ENTIRE BUILDING 26-7. (a) (1) NO PERSON SHALL OPERATE A RENTAL DWELLING UNIT UNLESS HE/SHE HOLDS A CURRENT UNREVOKED RENTAL DWELLING LICENSE. OBTAIN. #2 KITCHEN CEILING 26-10. (g) (3)f. EVERY FLOOR, INTERIOR WALL, INTERIOR DOOR AND CEILING SHALL BE KEPT IN SOUND CONDITION AND GOOD REPAIR. ~:J.1i .i.ii~ilitG. #2 KITCHEN 26-10. (f) (3) c. TEMPORARY WIRING OR EXTENSION CORDS SHALL NOT BE USED AS PERMANENT WIRING. * DTstom'i:NiJE--nIE( USE~~EXTENSibi?~CbRDS~ #2 KITCHEN - NORTH OUTLET/OUTLETS 26-10. (f) (1) ALL LIGHTS & OUTLETS MUST BE PROPERLY POLARIZED. -OUTLET HAS, REVERSED POLARITY ..~ MUST BEc\~REPAI4D. #2 KITCHEN SINK FAUCET 26-10. (c) (2) THE KITCHEN SHALL CONTAIN A SINK WITH HOT AND COLD RUNNING WATER. ALL PLUMBING, FAUCETS, DRAIN LINES, ETC. MUST BE MAINTAINED IN PROPER CONDITION. _q~~ ._u___~~~~ "REP""': .-.~ :,.' . FAU2i.iJS~!' '~----"'"'"'<:?SINKJ_\ ----~.- - . ~-~..----_._-,..~~"!..~- #2 KITCHEN - SOUTH OUTLET/OUTLETS 26-10. (f) (1) ALL LIGHTS & OUTLETS MUST BE PROPERLY POLARIZED. 26-10. (b) (3)b. #2 BATH FAN 26-10. (b) (3)c. #2 BATHROOM LIGHT SWITCH 26-10. (f) (1) #2 LIVING ROOM CEILING 26-10. (g) (3)f. #2 LIVING ROOM 26-10. (f) (3) a. #2 LIVING ROOM 26-10. (f) (3) a. EVERY WATER CLOSET COMPARTMENT OR BATHROOM FLOOR SURFACE SHALL BE CONSTRUCTED AND MAINTAINED SO AS TO BE REASONABLY IMPERVIOUS TO WATER. !~~:~!:,~._!!!~ ,-~~-92~~WG . THE REQUIRED BATHROOM AREA SHALL HAVE AT LEAST ONE (1) OPENABLE WINDOW OR OTHER ADEQUATE EXHAUST VENTILATION WHICH MUST VENT TO OUTSIDE OF THE UNIT PROVIDE AN OPERABLE ::t{i:.~w . OR: V~":~~~~~TIm.OO'. SUFFICIENT ELECTRICAL SOURCES MUST BE PROVIDED TO PERMIT USE OF ESSENTIAL ELECTRICAL APPLIANCES WHILE ASSURING SAFETY FROM FIRE. COVER. UNPROTECTED ROMEX. ;1 I .,,:"'~-~-".".' EVERY FLOOR, INTERIOR WALL, INTERIOR DOOR AND CEILING SHALL BE KEPT IN SOUND CONDITION AND GOOD REPAIR. REPAIR THE CEILINJ. ALL HABITABLE ROOMS SHALL BE PROVIDED NATURAL LIGHT BY MEANS OF EXTERIOR GLAZED OPENINGS WITH AN AREA NOT LESS THAN 8% OF THE FLOOR AREA. PROVIDE. HABITABLE ROOMS MUST BE PROVIDED WITH NATURAL VENTILATION OF NOT LESS THAN 4 PERCENT OF THE FLOOR AREA OF SUCH ROOMS. PROVIDE. #2 LIVING ROOM - EAST OUTLET/OUTLETS . ~"~..' .. , OUTLET..lf:AS. REVERSED POLARITY. AND MUST..BE .~J?AIREp. ~_.-.~"'; ... #2 KITCHEN WINDOW/WINDOWS 26-10. (d) (2) EXTERIOR DOORS AND WINDOWS ACCESSIBLE FROM OUTSIDE THE UNIT MUST BE LOCKABLE. 'PROVIDE A WfNDOW~LOCK' FOR...TiIIS~W~. ....._ ~ ...;:....~~..._.. :.~~~.~.-.t.......~",....... #2 RANGE 26-10. (c) (2) THE UNIT SHALL CONTAIN A COOKING STOVE OR RANGE SUPPLIED BY EITHER THE OWNER OR THE TENANT. RANGE BURNERS"Mq~T ..COME,.ON~:AUTOMATICALL~ '",,~. ." ....~.~~J _... : .....;:.-..'..~ ~: #2 STORAGE ROOM 26-10. (g) (3)f. EVERY FLOOR, INTERIOR WALL, INTERIOR DOOR AND CEILING SHALL BE KEPT IN SOUND CONDITION AND GOOD REPAIR. . .- REPAIR.:,:]:'HE. ,LOOSE CARPET.~ '~.~.j....: " ,it:~ ...........:..-- .-....-- #2 STORAGE ROOM 26-10. (f) (1) ALL LIGHTS & OUTLETS MUST BE PROPERLY POLARIZED. SEE COMMENT SECTION AT THE END OF THE REPORT. #2 STORAGE ROOM 26-10. (n) (1) a. SMOKE DETECTORS MUST BE INSTALLED OUTSIDE SLEEPING AREAS, IN THE IMMEDIATE VICINITY OF THE BEDROOMS AND ON EACH STORY, INCLUDING BASEMENTS & ATTICS. -. ._'~_.'-~"''':'''. . '._"-,'" -.,~.~... :,,"..~t1:- '':::'~?!'r~;o;~..,-::"f';'"tj'''':^''''''~~''';'''-~'~'-';''''''-'''''-J i!t~'I,'E:#P~~~B.S~_~S..1?ECIlUED.:;'IN1.ENCLOS~SER.'~ #2 BATHROOM DOOR 26-10. (j) (3)a. ALL INTERIOR PAINTED SURFACES SHALL BE FREE FROM LOOSE, FLAKING OR PEELING PAINT. ~B_~~&~-;j~ #2 BATH FLOOR 26-10. (f) (1) ALL LIGHTS & OUTLETS MUST BE PROPERLY POLARIZED. OUTLET HAS REVERSED POLARITY AND MUST BE REPAIRED. #2 BEDROOM FLOOR 26-10. (g) (3) f. EVERY FLOOR, INTERIOR WALL, INTERIOR DOOR AND CEILING SHALL BE KEPT IN SOUND CONDITION AND GOOD REPAIR. REPAIR THE LOOSE CARPET SEAM. #2 BEDROOM WINDOW/WINDOWS 26-10. (g) (3)b. EVERY WINDOW, EXTERIOR DOOR AND BASEMENT OR CELLAR DOOR AND HATCHWAY SHALL BE SUBSTANTIALLY WEATHER- TIGHT, RODENT PROOF AND KEPT IN GOOD REPAIR. WINDOWS MUST BE PROPERLY GLAZED. #2 BEDROOM WINDOW/WINDOWS 26-10. (j) (3)a. ALL INTERIOR PAINTED SURFACES SHALL BE FREE FROM LOOSE, FLAKING OR PEELING PAINT. PAINT AREA BETWEEN PRIME AND STORM WINDOWS. #3 KITCHEN COUNTER TOP 26-10. (c) (3)b. COUNTERS OR TABLES FOR FOOD PREPARATION SHALL BE FURNISHED WITH SURFACES EASILY CLEANABLE & WILL NOT IMPART ANY TOXIC OR HARMFUL EFFECT TO FOOD. COUNTERS MUST BE ABLE TO BE MAINTAINED SANITARY. #3 KITCHEN WINDOW/WINDOWS 26-10. (g) (3)b. EVERY WINDOW MUST BE KEPT IN GOOD REPAIR. REPLACE BROKEN WINDOW PANES. REPLACE BROKEN WINDOW PANE. #3 KITCHEN WINDOW/WINDOWS 26-10. (g) (3)b. EVERY WINDOW, EXTERIOR DOOR AND BASEMENT OR CELLAR DOOR AND HATCHWAY SHALL BE SUBSTANTIALLY WEATHER- TIGHT, RODENT PROOF AND KEPT IN GOOD REPAIR. WINDOWS MUST BE PROPERLY GLAZED. #3 KITCHEN WINDOW/WINDOWS 26-10. (j) (3)a. ALL INTERIOR PAINTED SURFACES SHALL BE FREE FROM LOOSE, FLAKING OR PEELING PAINT. PAINT AREA BETWEEN PRIME AND STORM WINDOWS. #3 KITCHEN WINDOW/WINDOWS 26-10. (j) (3)a. ALL INTERIOR PAINTED SURFACES SHALL BE FREE FROM LOOSE, FLAKING OR PEELING PAINT. PROPERLY REMOVE PEELING PAINT AND RE-PAINT. #3 KITCHEN WINDOW/WINDOWS 26-10. (h) (3)c. WHERE OPENABLE WINDOWS ARE REQUIRED, SC~EENS SHALL BE PROVIDED AND KEPT IN GOOD REPAIR. SCREENS MUST BE PROVIDED AS REQUIRED. #3 BATH FAN 26-10. (b) (3)c. THE REQUIRED BATHROOM AREA SHALL HAVE AT LEAST ONE ( :!.) OPENABLE WINDOW OR OTHER ADEQUATE EXHAUST VENTILATION WHICH MUST VENT TO OUTSIDE OF THE UNIT PROVIDE AN OPERABLE WINDOW OR VENT FOR BATHROOM. #3 LIVING ROOM CEILING 26-10. (g) (3) f. EVERY FLOOR, INTERIOR WALL, INTERIOR DOOR AND CEILING SHALL BE KEPT IN SOUND CONDITION AND GOOD REPAIR. REPAIR THE CEILING. #3 LIVING ROOM DOOR 26-10. (j) (3)a. ALL INTERIOR PAINTED SURFACES SHALL BE FREE FROM LOOSE, FLAKING OR PEELING PAINT. PROPERLY REMOVE PEELING PAINT AND RE-PAINT. #3 LIVING ROOM - EAST OUTLET/OUTLETS 26-10. (f) (1) ALL LIGHTS & OUTLETS MUST BE PROPERLY POLARIZED. OUTLET HAS REVERSED POLARITY AND MUST BE REPAIRED. #3 LIVING ROOM - NORTH 26-10. (f) (1) OUTLET/OUTLETS SUFFICIENT ELECTRICAL SOURCES MUST BE PROVIDED TO PERMIT USE OF ESSENTIAL ELECTRICAL APPLIANCES WHILE ASSURING SAFETY FROM FIRE. *ELIMINATE MULTI-PLUGS AS PERMANENT WIRING. #3 LIVING ROOM - NORTH OUTLET/OUTLETS 26-10. (f) (1) ALL LIGHTS & OUTLETS MUST BE PROPERLY POLARIZED. OUTLET HAS REVERSED POLARITY AND MUST BE REPAIRED. #3 LIVING ROOM SMOKE 26-10. (n) (1) a. DETECTOR SMOKE DETECTORS MUST BE INSTALLED OUTSIDE SLEEPING AREAS, IN THE IMMEDIATE VICINITY OF THE BEDROOMS AND ON EACH STORY, INCLUDING BASEMENTS & ATTICS. LOCATE DETECTORS AS SPECIFIED IN ENCLOSED INSERT. #3 LIVING ROOM - SOUTH OUTLET/OUTLETS 26-10. (f) (1) ALL LIGHTS & OUTLETS MUST BE PROPERLY POLARIZED. OUTLET HAS REVERSED POLARITY AND MUST BE REPAIRED. #3 BEDROOM/BEDROOMS 26-10. (f) (3)a. ALL HABITABLE ROOMS SHALL BE PROVIDED NATURAL LIGHT BY MEANS OF EXTERIOR GLAZED OPENINGS WITH AN AREA NOT LESS THAN 8% OF THE FLOOR AREA. PROVIDE. #3 BEDROOM/BEDROOMS 26-10. (f) (3) a. HABITABLE ROOMS MUST BE PROVIDED WITH NATURAL VENTILATION OF NOT LESS THAN 4 PERCENT OF THE FLOOR AREA OF SUCH ROOMS. PROVIDE. #3 BEDROOM - EAST OUTLET/OUTLETS 26-10. (f) (1) ALL LIGHTS & OUTLETS MUST BE PROPERLY POLARIZED. OUTLET HAS REVERSED POLARITY AND MUST BE REPAIRED. #3 BEDROOM SMOKE DETECTOR 26-10. (n) (1) a. SMOKE DETECTORS MUST BE INSTALLED OUTSIDE SLEEPING AREAS, IN THE IMMEDIATE VICINITY OF THE BEDROOMS AND ON EACH STORY, INCLUDING BASEMENTS & ATTICS. *INSTALL BATTERY IN SMOKE DETECTOR. #3 BEDROOM - WEST OUTLET/OUTLETS 26-10. (f) (1) ALL LIGHTS & OUTLETS MUST BE PROPERLY POLARIZED. OUTLET HAS REVERSED POLARITY AND MUST BE REPAIRED. #4 KITCHEN DOOR 26-10. (g) (3)f. EVERY FLOOR, INTERIOR WALL, INTERIOR DOOR AND CEILING SHALL BE KEPT IN SOUND CONDITION AND GOOD REPAIR. SEE COMMENT SECTION AT THE END OF THE REPORT. #4 KITCHEN FLOOR 26-10. (c) (3)d. EVERY KITCHEN OR KITCHENETTE MUST HAVE A FLOOR SURFACE WHICH CAN BE MAINTAINED IN A SANITARY CONDITION. REPAIR THE FLOOR SO IT CAN BE MAINTAINED SANITARY. #4 KITCHEN SMOKE DETECTOR 26-10. (n) (1) a. SMOKE DETECTORS MUST BE INSTALLED OUTSIDE SLEEPING AREAS, IN THE IMMEDIATE VICINITY OF THE BEDROOMS AND ON EACH STORY, INCLUDING BASEMENTS & ATTICS. LOCATE DETECTORS AS SPECIFIED IN ENCLOSED INSERT. tH KITCHEN WINDOW/WINDOWS 26-10. (j) (3)a. ALL INTERIOR PAINTED SURFACES SHALL BE FREE FROM LOOSE, FLAKING OR PEELING PAINT. PROPERLY REMOVE PEELING PAINT AND RE-PAINT. #4 KITCHEN WINDOW/WINDOWS 26-10. (j) (3)a. ALL INTERIOR PAINTED SURFACES SHALL BE FREE FROM LOOSE, FLAKING OR PEELING PAINT. PAINT AREA BETWEEN PRIME AND STORM WINDOWS. #4 BATH FAN 26-10. (b) (3)c. THE REQUIRED BATHROOM AREA SHALL HAVE AT LEAST ONE (1) OPENABLE WINDOW OR OTHER ADEQUATE EXHAUST VENTILATION WHICH MUST VENT TO OUTSIDE OF THE UNIT PROVIDE AN OPERABLE WINDOW OR VENT FOR BATHROOM. #4 LIVING ROOM WINDOW/WINDOWS 26-10. (g) (3)b. EVERY WINDOW MUST BE KEPT IN GOOD REPAIR. REPLACE BROKEN WINDOW PANES. REPLACE BROKEN WINDOW PANE. #4 LIVING ROOM WINDOW/WINDOWS 26-10. (f) (3)a. ALL HABITABLE ROOMS SHALL BE PROVIDED NATURAL LIGHT BY MEANS OF EXTERIOR GLAZED OPENINGS WITH AN AREA NOT LESS THAN 8 % OF THE FLOOR AREA. PROVIDE. #4 LIVING ROOM WINDOW/WINDOWS 26-10. (f) (3)a. HABITABLE ROOMS MUST BE PROVIDED WITH NATURAL VENTILATION OF NOT LESS THAN 4 PERCENT OF THE FLOOR AREA OF SUCH ROOMS. PROVIDE. HALL 2ND FLOOR COMMON HALL 26-10. (h) (3)b. AT LEAST ONE WINDOW IN EACH SLEEPING AREA MUST BE OPENABLE TO OUTSIDE AIR. SEE COMMENT SECTION AT THE END OF THE REPORT. HALL 2ND FLOOR COMMON HALL 26-10. (g) (3)b. EVERY WINDOW MUST BE KEPT IN GOOD REPAIR. REPLACE BROKEN WINDOW PANES. SEE COMMENT SECTION AT THE END OF THE REPORT. HALL 2ND FLOOR COMMON HALL 26-10. (f) (1) SUFFICIENT ELECTRICAL SOURCES MUST BE PROVIDED TO PERMIT USE OF ESSENTIAL ELECTRICAL APPLIANCES WHILE ASSURING SAFETY FROM FIRE. SEE COMMENT SECTION AT THE END OF THE REPORT. HALL 2ND FLOOR COMMON HALL 26-10. (g) (3) k. IN MULTIPLE DWELLINGS, A HALLWAY EXTINGUISHER MUST BE A 5 LB UL LISTED 2A10BC RATED EXTINGUISHER. (SEE INSERT.) PROVIDE AND INSTALL AN ABC TYPE FIRE EXTINGUISHER. HALL 2ND FLOOR COMMON HALL 26-10. (g) (3)f. EVERY FLOOR, INTERIOR WALL, INTERIOR DOOR AND CEILING SHALL BE KEPT IN SOUND CONDITION AND GOOD REPAIR. SEE COMMENT SECTION AT THE END OF THE REPORT. HALL 2ND FLOOR COMMON HALL 26-10. (j) (3)a. ALL INTERIOR PAINTED SURFACES SHALL BE FREE FROM LOOSE, FLAKING OR PEELING PAINT. SEE COMMENT SECTION AT THE END OF THE REPORT. HALL 2ND FLOOR COMMON HALL 26-10. (g) (3)b. EVERY WINDOW MUST BE KEPT IN GOOD REPAIR. REPLACE AND/OR REPAIR THE SASH BALANCE. SEE COMMENT SECTION AT THE END OF THE REPORT. HALL 2ND FLOOR COMMON HALL 26-10. (f) (3)b. OVER CURRENT PROTECTION SHALL BE PROVIDED WITH PROPERLY SIZED S-TYPE FUSES OR CIRCUIT BREAKERS. ( SEE INSERT.) OVER-FUSING IS PROHIBITED. HALL 2ND FLOOR COMMON HALL 26-10. (f) (3)b. OVER CURRENT PROTECTION SHALL BE PROVIDED WITH PROPERLY SIZED S-TYPE FUSES OR CIRCUIT BREAKERS. (SEE INSERT.) PROVIDE BLANK FUSES/BREAKERS FOR OPENINGS IN PANEL HALL 2ND FLOOR COMMON HALL 26-10. (f) (3)b. OVER CURRENT PROTECTION SHALL BE PROVIDED WITH PROPERLY SIZED S-TYPE FUSES OR CIRCUIT BREAKERS. (SEE INSERT.) PROVIDE S-TYPE FUSES. HALL 2ND FLOOR COMMON HALL 26-10. (1) (2) . . SITE & NEIGHBORHOOD MAY NOT BE SUBJECT TO POLLU- TION, SMOKE, DUST, NOISE, TRAFFIC, ACCUMULATION OF TRASH, VERMIN, RODENT INFESTATION, & FIRE HAZARDS. SEE COMMENT SECTION AT THE END OF THE REPORT. COMMENTS - 330 MAIN #2 STORAGE ROOM - The west outlet has reversed polarity. #2 NOTE: The storage room/Closet cannot be used as a habitable room due to lack of natural light and ventilation. #2 LIVING ROOM - Pass With Comment: The carpet should be cleaned. #4 KITCHEN - Install a handle on the storm door. 2ND FLOOR COMMON HALL - Install a stairway light. - The south exit door has a broken window pane. - The junction box above the exit sign is deficient a cover. - The west outlet has reversed polarity and open ground. - Repair the broken floor tile. - Repair the stairway ceiling. - Repair the stairway walls. - The mechanical room has peeling paint. - The stairway guardrail, handrail, woodwork, doors, windows, walls, exterior doors stairs, and ceiling have peeling paint. - The east window is deficient a sash balance. - Remove storage from the hall. NOTE: Unit #5 on the 2nd floor and the entire 3rd floor are posted and must remain vacant until repairs are made and a complete inspection is performed to verify all violations have been corrected. The store front converted to an apartment can only be used as a store front unless proper zoning and building permits can be verified for the apartment conversion and all housing code violations corrected. NOTE: You are continuing to operate an unlicensed residential rental property in violation of Chapter 26, City of Dubuque Residential Housing Code. Notices concerning the paYment of the rental dwelling operating license have been sent repeatedly since 1996. Currently the amount due is $526. If paYment in full is not made by October 30, 1998, a 30-day intent to vacate will be issued to you with copies to all tenants and the property will be posted and vacated on November 30, 1998. Please be advised that you will be fiscally responsible for all costs associated with the relocation of the tenants. NOTE: Unit #1 was not available for inspection and must be available at the reinspection. ...::.;.-'---,......... ~- ~IAR. -02' 99 (TCEl 1 S: 41 GOODMANN INS. SERV' S TEL:319S561142 P. 001 ~ ~ DOMINIC GOQOMANN REAL ESTATE. LTO. 2714IJNIVe~SI'I'Y "VENU~. P.O BOX lOA. CU5JQUe. III l)lIO01 e~. (3'9155~e43 FAX (51815:;&-1142 March 3. 1999 Jim Burke Office of Community Development City Hall 50 West 13th St.. Dubuque. IA 52001 Re: 330 Main St. Dear Jim: In reference to the Bette Dolan property at 330 Main Street, a/k1a the "Union Cigar Store- building. I hsve been Ms. Dolan's Resl Estate Agent since her decision to sell the property. I listed the property on Apli11 O. 1998, and it has been continuously exposed to the market via the Dubuque Multiple Listing SefVice: the internet at coldWellbanker.com, realtor.com. and cbgood@aol.com: as well as the through the Telegraph Herald classified ads on a weekly basiS since that time. TIle property was shawn to approximately a dozen qualified buyers by myself, as well as by several other local Realtors. We did not receive any written offers on the property. other than that of the City of Dubuque. We were told by many lookers that the cost of renovation would vastly exceed an amount that would assure any reasonable return of, let alone on, investment. There are too many inherent problems with the floorplate of the structure. as well 8S the lack of a viable windowline necessary to renovate the property into apartments that would meet the minimum standards required by code. Real estate investment must compete in a world of alternative capital investment opportunities. Typical real estate investors demand capitalization (return on investment) in the 10 -12% range. This property will not be able to achieve that Iev-el of return for the foreseeable future. Please call me at any time to further discuss this property. ~~~cere.~~, _ (1 (' ~ C(f'<-J"f:C. Nick Goodmenn, Broker An Indcpencer1llv Ownoo and Qporall:d Member 01 Coldwtlll Booker Residential Attiliales, Inc. ., PREPARED FOR: CITY OF DUBUQUE DUBUQUE, IOWA PROPERTY: 304 MAIN STREET DUBUQUE / IOWA 52001 PREPARED BY: FELDER1'1.../iN APPRAISALS 1399 JACKSON STREET, DUBUQUE, IOWA 52001 COMPLETE APPRAISAL IN A SUMMARY REPORT OF 304 MAIN STREET, DUBUQUE, IOWA. Legal: City Lot 9, Dubuque, Iowa Interest Being Appraised: Fee Simple, AS IS Purpose and Intended Use: Estimate Market Value for purchase Value to be Estimated: Market Value of Real Estate Effective Date of Appraisal: 18 May 1998 Date of Report: 12 June 1998 Estimate of Value: $119,000 Assumptions and limiting conditions: (See attached) Highest and Best Use: Commercial Assessors Identification: 10-25-241-007 Assessed Value/Net Taxes: $87,520/$2,304 Owner: William N. Has Last Sale Date: None In past five years 4 Special Flood Hazard Area: No. The subject is located in an Area identified as Zone X (unshaded). An area above the 500 year flood plain. See Map 195180- 0006 8, dated 9/6/89 Area Boundaries: Neighborhood Boundary Statistics Program for Dubuque, Area 001. Census Number: Map 19-061, Tract 0002.00 Restriction placed on assignment: Summary Report Zoning: The subject property is currently zoned C4 Downtown Commercial District, according to the Dubuque Zoning Map. Refer to the Zoning Ordinance Excerpt in the addendum area. 5 BRIEF SITE DESCRIPTION: The subject property has approximately 64.25' of frontage along Main Street, and approximately 113' along 3~ Street, for a total of 7,260 square feet. There is no off-street parking. ACC2SS: The parcel is located at the corner of 3rd Street and Main Street, and is accessed by way of Main Street to 2nd or 3rd Street to Locust Street or Bluff Street (both are major arterials for the cmmtown). There is an alley along the rear. Main Street is asphalt paved with curbs, gutters, and sidewalks. It lS a two way, two lane streets. The alley is asphalt paved. UTILITIES: Public utilities are available to the area, including: electricity, telephone, gas, city water, and city sewer services. DR~INAGE appears adequate, and flows from the front to the rear. P.u.R.CEL SIZE is typical of properties that are in the downtown commercial areas. The limitation to the property is its lack of off-street parking, though there is metered parking in the area, and a parking lot behind the property. S.~SE[VI2NTS There are no apparent adverse easements, known encroachments, or known special assessments. ~IAINTENANCE & CONDITION: The properties in this neighborhood are in overall average condition and show normal wear and tear. There have beerl some properties with structural difficulties, though some are in the process of being renovated or have plans for future ~:enovation. The majority of the properties are over 50 years old. Thet'e is a mi:-; or mostl:.,.' commercial uses and residential uses ir: the area (\.Jith most residential uses on upper floors) . 6 PROPERTY COr-l?'\TIBILITY: There are commercial properties in this neighborhood that are compatible with the subject. D:::V2LO?l-!ENT POTENTI.!\L: Development is stable, and most of this area is fully developed. Most new development is taking place in older buildings that are either updated or demolished for the land. APPEAL/APPEARANCE: Appeal and appearance of the commercial properties in this neighborhood is average for the downtown area. It not as desirable as commercial property on the West Side of Dubuque. HISTORIC LOCATION: The subject is located in the OLD MAIN HISTORIC DISTRICT. There are special building and rehabilitation requirements for property in this area. There are also several government financing and funds available for those willing to renovate and place such a property into more functional uses. It should also be noted that demolition permits are more difficult to obt.ain. 7 BRIEF DESCRIPTION OF IMPROVEMENTS The subject consists of two specific buildings, with a total of app:::-oximately 23,808 square feet over four floors. Part of the requesc has included determining a value for the property AS IS, and a value as if the rear portion of the property were removed, which would leave approximately 14,160 square feet, and open lot a:::-e or 3,392 square feet. The property does not currently appear to be habitable, though the main floor has one tenant occupying space. The appraiser has been given an estimate for demolition for the entire building of approximately $380,000 (not including removal of interior items), and a bid lS underway regarding only a partial demolition as discussed above. The building was constructed in 1867, according to the City of Dubuque Assessor's Data Card. The foundation is stone with a concrete and dirt floor. There is a full basement and a partial sub-basement under the full basement. There is evidence of settlement and deterioration of support walls th:::-oughout the building. The exterior walls are common brick. The flat roof has a composition cover and has evidence of current leaking. There are metal gutters and downspouts. The interior walls and ceilings are mostly plaster with some paneled walls. The floor coverings are tile, wood, or carpet. Most of the carpet has been damaged beyond use due to the leaking roof. There are doublehung windows, with many broken windowpanes. The lights appear to be incandescent. 8 Mechanicals: The appraiser was unable to identify the electrical service due to the amount of accumulated materials in the utility area. There is an old personnel elevator that appears to serve most levels of the old motel, though it does not appear to be in working condition. There is no sprinkler system, no docks, and no rail service. Heat was provided to all levels, but it does not appear to be in working order, or have the ability to be made to function. The only tenant uses a gas space heater and has its own unit air conditioner. There is one usable restroom in the tenant's space that has a stool and sink. While there are sinks in most rooms throughout the upper floors, they did not function. It appears to the appraiser that none of the plumbing in the building is functional except for the tenant's. The interior ceiling height of each floor is identified as; II' to 13' on the main floor, 8.5' on the second floor and third floor, and 8.5' on the fourth floor (according to the Assessors Information Sheet) . No business equipment or furnishings, are included in the value of this report. Based on the condition of the property, any of the interior improvements would be irrelevant since the property should be completed gutted prior to any other uses would be allowed. 9 The American with Disabilities Act (ADA) became effective in 1992. The appraisers have not made a specific compliance survey analysis of the subj ect property to determine whether or not it is J..n conformity with the .~A. If a detailed survey is completed, and the property is not in compliance, it may have an effect on the value and the appraisers reserve the right to review and make any adjustments (if necessary) to the value determined in this report. For the purposes of this report, and the current use, the building is considered to be accessible on the main floor. It is questionable that the property would meet current ADA requirements, and any property compared to it would be similar. There are stairways for access to all levels. . i I j ~ 10 ENVIRONMENTAL HAZARDS There is no known indicacion of potential adverse environmental condi~ions or materials In the subject or on the site. The appraiser has reviewed the Iowa Underground Storage Tank Report for Region 1 of Iowa, and has identified underground tanks in the area. Only one appears to have an past leaking tanks, 25 S. Main Street Trausch Baking Company #7LTA41. It does not appear to have affected the subj ect property, and there is a newer highway extension between it and the subject. Only a Phase II Environmental Assessment would be able to determine if the subject site actually has any underground contamination, radon, lead paint, or if asbestos materials are present. It is likelv that such materials do exist in the property. It is always reco~~ended that such an assessment be completed p~ior to transfer or any property that may be suspected of contamination. If such contamination is identified, with a cost to cure, we reserve the right to make an adjustment to the final determined value. The appralser has NOT performed any tests for UNDERGROUND CONT~'IINATION, ~qnON, ASBESTOS, or LEAD PAINT. 11 HIGHEST AND BEST USE: According to the definition as stated in Real Estate Appraisal Terminology, c. 1992 by the American Institute of Real Estate Appraisers and the Society of Real Estate Appraisers, Highest and Best Use is defined as: "The reasonably probable and legal use of vacant land or an improved property, \vhich is physically possible; appropriately supported, financially feasible; and that results in the highest value. " The definition immediately applies specifically to the highest and best use of land. It is to be recognized that in cases where a site has existing improvements on it, the highest and best use may very well be determined to be different from the existing use. The existing use will continue, however, unless and until land value in its highest and best use exceeds the total value of the property in its existing use including the cost to remove the improvements." The determination of the highest and best use results from the appraiser's judgement and analytical skill. The highest and best use determined from this analysis represents an opinion, not a fact to be found. The highest and best use of the land and improvements becomes the basis for estimating value in each valuation section or this report. 12 In estimating the highest and best use, the five essential stages of analysis are: 1. Physical .~alvsis lS the analysis of the physical features of the site and structures. The site analysis includes the size, shape, topography, etc. The physical analysis of the improvements considers building type, design, quality of construction, condition, and functional utility of the improvements, etc. 2. Locational Analvsis is the analysis of the property's relationship to the neighborhood and surrounding area; the current status of the neighborhood life cycle (development, stabilization, disintegration, or revitalization); and the social, economical physical, and governmental trends affecting the subj ect neighborhood. 3. Leqal Analvsis is the analysis of the uses permitted on the site by zoning, deed restrictions, leases, easements, etc. 4. Market .~Dalvsis is the economic feasibility test in the highest and best use analysis. It includes the analysis of demand, supply, and the absorption rate or estimated marketing time of that use or uses which are economically feasible. 5. Hiqhest and Best Use is the final step to test the physically possible, legally permissible, economically probable, and feasible uses of the site or improved property which results in the highest value, as of the appraisal date. It is the appraisers opinion that the subject offers a highest and best use for commercial uses as allowed by the current zoning. The location, access, zoning, and visibility support this use if the building improvements were usable, and as if vacant. 13 L~~ VALUE ESTIMATE: Tn~ appraiser has determined that the highest and best use for the property would be for commercial or warehouse uses, as allowed in the current zoning. In order to estimate the value of the site as if vacant, it has been compared with comparable land sales in the Tri-State Area. Consideration must be given to lot size, location, traffic, zoning, date of sale, access, and allowable use. consideration was given to sales in the immediate area. Refer to the Dubuque Land Sales Adjustment Chart for adjustments in Addendum I. The subject parcel measures approximately 2,430 square feet. Land Sales Comparables All of the comparables were adjusted upward for date of sale, the area sales indicate an increase of approximately 3% per year. Comparables #2, #5, #6, #7, and #8 are given greatest weight. #2 and #5 were paved, and all of the sales except for # 5 are larger than the subject. Typically, smaller lots will sell for more per square foot than similar larger parcels. It should be noted that the typical purchaser in the downtown area has been an adjoining property owner, and they have been known to pay as much as double than the land was worth (due to demolition costs) . It is the appraisers opinion that the subject site has a current estimated value, as if vacant, of $8.00 per square foot. 7,260 square feet @ $8.00 per square foot equals $58,080, rounded to S58,OOO. ESTI~~TE OF h~D VALUE -$58,000 1 I 30 .. i I COST APPROACH: The cost approach is based upon the theory that a well-~~formed buye= ~ill pay no more for a property than the cost to replace it in a reasonable time, plus the cost of similar land. Typically, the buyer will pay something less for existing property than its cost new, and this is attributable to factors of age and changing stancia=ds of layout and construction. The cost new, ::hen is reduced by these factors in three categories of depreciation to arrive at a discounted improvement value. These categories of depreciation are physical, functional, and economic. Physical depreciation is caused by the physical wear of the improvements and their age. Functional obsolescence is due to either inadequacies 0= superadequacies in building design. Forces outside of the proper::y cause economic obsolescence which decrease the ut~lity of value of the improvements. :or a~ existing, older property, this approach does not reflect the true value since it is based on estimates for depreca::ion and reproduction versus replacement material costs. Based on ::his, it lS this appraisers opinion that this approach is not considered to oe supportive the subjects estimate of market value. 3l INCOME APPROACH: The Income Approach considers the stream of income property lS likely to produce during its economic converts this income to a value estimate. which life, the and When a property is not being utilized as income producing property, this approach is given little weight. For the subject property, most of the building is not usable and could not generate income. Based on this overall fair to poor condition, it lS this appraisers opinion that the Income Approach would not be reflective of the subjects current estimate of value. 32 SALES COMPARISON APPROACH: This approach is based upon the Principal of Substitution which states ~haL a prudent purchaser would pay no more for real property than the cost of acquiring an equally desirable substitute on the open market. It presumes the sale of similar or nearly similar properties from which units of comparison may be extracted and applied to the property being appraised for an indication of property value. Based on the comparables enclosed in this report, the appraiser has determined that the following sales are most similar and are given mos~ consideration. .J..ddi tional information (such as the Adj ustment Chart and informa tion sheets) concerning these and other sales that Here researched are located in the addendum area. The subject building has approximately 23,808 square feet over four floors. The appraiser ,,,rill also determine a real estate consultation value for the property as if the front portion Here demolished, leaving approximately 3,392 square feet of space for parking. The appraiser has reviewed similar sales in the Tri-State Area that would provide competition the subject building. Adjustments have been made for da te of sale, condi tion and quality, location, building size, and land to building ratios. The sales provided in the addendum area, were researched as potential comparables, but not all are given consideration. 7he appraiser researched sales throughout Dubuque with weight given to dOHntown sales. The following comparables are given greatest Height. 33 ~ ! j Sales Comparables: ~ i -' All com~arables are adjusted for date of sale, approximately 3% per .. I J y~~r increases in value. .. Comparable rr 1 1296 Central Avenue sold in October of 1996 for S72,000. This three-story building had 5,724 square feet and an attached garage. There was a commercial use on the main floor, and a~artments on the upper level. Poor condition overall. S12.58 per square foot. .. , I ..l ..l -.: .. .~dj us ted upward for date of sale. Downward adj ustment for size (typically buildings that are smaller in size .sell for more per square foot than similar larger sized buildings) and its superior location along a higher traffic street. Adjusted to $6.96 per square foot. .. .. j .. Comparable # 2 163 Main Street sold in June of 1995 for $55,500. This two-story building had 5,016 square feet on a 2,508 square root lot ,vith no parking. There was an industrial use in the 1991 sale, but commercial use in 1995, with offices on the upper floors. ~verage condition overall. Sll.06 per square foot. .. .. .. Adjusted upward for date of sale. Downward adjustment for size and su~erior condition and finish. Adjusted to S5.38 per square foot. ... .... ] 34 Comparable rr 10 1473 Central Avenue sold in January of 1996 for $310,000. This four-story building had 20,400 square feet on a 17,920 square foot lot (with a large parking area). There were office uses on all levels. Average condition overall. $15.20 per square foot. Adjusted upward for date of sale and size. Downward adjustment for superior condition and finish, and higher traffic visibility. Adjusted to $5.11 per square foot. Comparable # 13 1701 Central .Z\venue sold in April of 1996 for $63,000. This three-story building had 4,200 square feet on a 2,093 square foot lot. There was a commercial use on the main floor, and apartments on the upper levels. Average condition overall. $15.00 per square foot. Adjusted upward for date of sale. Downward adjustment for size, superior condition and finish, and higher traffic visibility. Adjusted to $4.90 per square foot. Comparable # 17 137 Main Street sold In September of 1996 for $200,000. This five-story building had 29,184 square feet on a 7,296 square foot lot. There were some offices on the main floor, with the remainder of the building used for warehouse distribution. It Has purchased to assist in the relocation of an existing business wi thin the city. There are plans being developed to renovate and expand the buildings use, but nothing specific has been announced. Average condition overall. $6.85 per square foot Adjusted upward for date of sale, and building size. Adjusted to $5.26 per square foot. 35 Comparable ~ 20 1266 Central Avenue sold in September of 1997 for $78,000. This three-story building had 4,770 square feet and an attached garage. There was a commercial use on the main floor, and apa=Lments on the upper levels. Fair to average condition overall. $16.35 per square foot Adjusted upward for date of sale. Downward adjustment for size, finish, and location along a higher traffic street. Adjusted to $5.84 per square foot. Since Comparable # 16 sold after the day of the visit on 21 May of 1998. Hm.,rever, this sale is similar to the subject in overall condition. The purchaser is going to use $180,000 of government financing to complete the renovation to a main floor coromercial use and two I-bedroom apartments. A large part of the structure will be demolished and a basement garage will be added. It is this appraisers opinion that this sale supports the subjects determined estimate or value. Based on the comparables presented in this report, with greatest "eight given to those sales listed above (after adjustments); it is chis appraisers opinion that the subject building (as is) has an estimated '!alue or $5.00 per total above ground floor square footage. $5.00 times 23,808 square feet equals $119,040; rounded to $119,000. 36 1 If the subject property had the rear portion demolished it would reduce the total square footage to approximately 14,160 square feet and also would make approximately 3,392 square feet available for off-screet parking. As a real estate consultation valuation, it is my opinion that the overall value per square foot, would increase due to the smaller square footage, and off-street parking (a desirable factor in this area). A review of the same comparables indicate that the subject may be worth as much as $7.00 per square foot, or $99,120 (rounded) . for the purposes of the entire property the appraiser has ietermined a value of $119,000. SALES COMPARISON APPROACH TO VALUE $119,000 37 FINAL ESTIMATE OF VALUE: To value the subject property, the three approaches were cetermined to be; COST APPROACH INCOME APPROACH SALES COMPARISON APPROACH nla nla $119,000 The appraiser was tasked with providing an estimate of value for the subject land and improvements, AS IS. The Estimate of Land Value determined an "as if vacant" -talue for the total parcel of land. The Cost Approach for an existing building would vary based on construction quality and s~ze. The Cost Approach uses estimates from a national cost service (that may not be to the exact specifications of the stibj ect), and the depreciation is estimated. This approach is conside~ed less reliable for existing older buildings and was considerec reliable of the current estimate of value. Since the subject is not being used for its total income ~roducing capability (most of the building is usable), the appraise= has not completed an Income Approach. The appraiser has reviewec several lease comparables and determined that the subject woul:: not be purchased for income producing capabilities witho~~ major renovation and updating. The Sales Comparison Approach provides a value based on comparable sales that are considered to be competitive to the subject. Several sales were researched (refer to addendum for the Sales C~art) but only those discussed in the main body of this report were given consideration in determining a value. 38 There have been many multi-level buildings with little or no off- street parking sell in the past eight years. Only those most recent sales In the past three years are given consideration, with specific interest to those in the immediate area of the subject. While the estimated cost to demolish the building appears to be greater than the current estimate of value, not all parties would be interested in demolishing all or part of the building. Also, the appraiser was not given a copy of the demolition bid, and to my knowledge other bids have not obtained. The cost to renovate the entire property may be restrictive to most users, but there have been others who took on such a project since there are government monies available. Also, the subjects location in a Historic District may require government input to complete such a project. Effectively, the subject could have a negative value based on the cost to demolish or renovate. However, the comparables appear to support some value for the property. It is the appraisers opinion that the Sales Comparison Approach is the only approach reflective of the subjects current estimate of value. Based on an analysis of the data contained In this report, the appraiser has determined a most probable current estimated value, as of 18 May 1998 $119,000. 39 R. J. BUILDING SKETCH ADDENDUM A FELDERMAN APPRAISALS - DUBUQUE, IOWA Property Address 304 Main Street City Dubuque County Dubuque State fA Zip Code 52001 Borrower City of Dubuque Lender/ClientCity of Dubuque Address 50 W. 13th Street, Dubuque, fA 52001 Appraiser R. J. FELDERMAN Address 1399 JACKSON STREET 40.0' 24.0' Vacant Vacant Apartrr ent Hotel Hotel 20.0' or or (1) u Room Room Open ~ Open Open 0 HOUSE House 0 0 (') stairs (') stairs stairs stairs .,- .,- .,- .,- (1) Vacant ..... Vacant Vacant 0 ......- ......c ...... C(1) C"'" U) ro...... Hotel Hotel Hotel ro(1) ~ uO or u> 0 roI 'or or roro Room >1- 0 > Room Room en House House House 20.0' 44.0' rvlain Floor Second Floor Third Floor Fourth Floor Scale; 1 =40 AREA CALCULATIONS SUMMARY BUILDING AREA BREAKDOWN Area Name of Area Size Totals Breakdown Subtotals C!l,\ 1 first floor 2720.00 First Floor I First Floor-l!::! 3912.00 6632.00 23.0 x 40.0 I 920.00 CB..\.:! Second Floor 2720.00 20.0 x 90.0 I 1800.00 Second Floor-l!2 3912.00 6632.00 First Floor-l!2 I CIlJ'\J 'rhird Floor 2720.00 44.0 x 60.0 I 2640.00 , Third Floor-l/::! 3912.00 6632.00 24.0 x 53.0 ! 1272.00 C!l,\ ~ fourth Floor-l!2 3912.00 3912.00 Second Floor i 23.0 x 40.0 I 920.00 I 20.0 x 90.0 I 1800.00 Second Floor-l!2 I 44.0 x 60.0 2640.00 24.0 x 53.0 i 1272.00 Third Floor i 23.0 x. 40.0 i 920.00 ! 5 remaining calculations I 9624.00 TOTAL BUILDIN~ounded) 23808 14 Areas Total (rounded) i 23808 .......---.-. i SKETCH AREA/T ABLE ADDENDA File No. rjf FCl ()n~~l,',~ ""I'I~.'I:\'\l:'l APEX SOFTWARE 210.o99-U66 Apx7100.w Apexll , J J ] 1 J , J ] ~~P(S) OF SUBJECT AND COMPARABLES ADDENDUM C ~ I i J .. i j i i I .J ~ i J .. I .J .... j FELDERMAN APPRAISALS - DUBUQUE, IOWA \\.. \ .::.~'\ ~\ .w _<9 UN'M:lcrl ,...".._ # 0... ;-'" # ~ ,'0' I ~~ Sub ject @ Land Comparables :\ ~. ..... :. . ~ . L1NOSERG ,s.'<.. .:: . On... . .' ", ~. i5 ~ 'EAGLE" ~ ::.' ~; ,. ~ ~"", llj'i'J.€.S :J. G. . 'Q ~ . 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U" a: ill :! .,./,/,/ -::\~ . , . . ; . . .tf~ t:.,...o 1 PHOTOGRAPHS OF THE SUBJECT ADDENDUM F FELDE~~ APPRAISALS - DUBUQUE, IOWA PHOTOGRAPH ADDENDA Wlliam Has 304 . Main Street State I A l: COO! 52001 Front Front and side .... I I I ... Foon LPICPlX - 'TOTAL 2000 rol WinOOws' appi<IisaI software by a Ia 111<XE. ir.c. - 1-BOO-ALAMOOE PHOTOGRAPH ADDENDA 'Mlliam Hos 304 Main Street Stie fA ~ lj:t~ ~ ~;;~.:.~ ~ "~~" ~.~ ~ ~:~~: -~ ..".-. Ii::;,'~~, . . . __ :J_:.;,.~ "''...',_,. . - '.'- b '" .. :. ?S*;~_.~:';~;~:;r'~~ " .\':';. ..(~"'4'~'''''~''~~..(:~~'''''.~'~~~_'.';''t.'''f'~\-'~''':~'~.a~ ~'<i'j",:,-..;.~. " ,,::~~-;~,-:,~',:~az~':'/::::~c~t~.~~-.i.~"';.!~~.::~~~r;:~~;:;.::::..~~:'.~~:} '.:f:~i:.:~)'~ . '. "'-~"""."."\o".~,,,,,,,~..':'~t.~Co1"-~~,~'!;~,,,,':>,,,,,,,_,,'';;:'::''"~'''''''-> ,~.~~~~~~\'~~~t~~~~~~~~;::.~~~~~~~}t~~i~::~':'~k~ .;~~~~~ t\..l'..''\,-''......~~~~!f~,~~.~..; "":~~. ~\.~..:;.':~-'.r.....'~ .", " ~- .~' r:-.i.~\~~~"~~ ~~~~~~~~..~ ~\~;~~~~';:s..~;~::~~:.~..:\.;: :;:>~~;:~~~~~t.,: ~~~~~~%iZ~j.~~~'t., ~.\\~:,t.'~..,,~{t}~~~.~~~~~~t; , ~J......~.~~...~~~..uof.~.,~).;:-:~-::-~.~.:.:.'t~-:.~~:.:.~,~ t'"' 1.~i~.::."':-~.~ ,,~;~\~':~ . .~~~ ~,~~~.~,~~~~~l~~k~,~~,'.?~:>\..:~~.~.~"~~~.. ....,.,...,..,..~,... "..-""'~~~~~~\~1:')'~~....""~~~--s.,.,...,." ""-" :'""-"""",","~- ~., ~-::~'.:~~J.i~~~~~~~~~\.~.:.;:::~ ,. '...- ,,',.~~:~?}.>?t: .... ~'m ". 'Bl " .... ... ..... .. " _. 3rd Street Main Street f\lml LPlCf'C( - 'TOTAL 2000 /0( Wilmws' apjXaisaI software by a la mode. ire. - 1-800-AlAMOOE Zi Core 52001 PHOTOGRAPH ADDENDA INilliam Hos 304. . Main Street ~ IA . CoOO 52001 interior wall and ceiling ~ interior wall :~ ".-:.. .. -' -I Foon lPlCPlX - 'TOTAl 2000 fix Wrmws' ~ Sllftwa"e by a Ia~. n:. - 1-800-AlAMOOE PHOTOGRAPH ADDENDA BooowefiCIert Ar:Xre;s Dubuque City of Dubuque William Has 304 . Main Street C Lerm- Ste IA ~ ..;..... i'1 ~':.- . -) .::';-;':' !':..,. -.~ ',":... -.. . ~ .:..,.. c--.: . '- '." '"'''''-' ~f~~t'ij<:~>--s,.:;:::"c.: .' ~;;]:~Z~~:l\~ ,-Jc~~~:~~::c~~ ~~- ~~, - .; ,.. '-'ii', '0;' " ,', ~~"(,: HI' ' .,', " .i-: N-~~~'~i::~~~-'-:" ..-~- '-.. '" ,-'. - '--J ;~~h]i i,t ~:; ':<"; .::"'....>_~ ~-t.....::-~J~~,. ; ;il1t. ~ ,,:~ .- - " .~.. .. .~~ - '~:~~;-~~ .~ ~~~. . ~:~ . > ! :~~. .:....:,-_. ~" "-~-.--' . ~ . ,'- ;'. -,~ :~:;~~? ---"': COOl 52001 Air Space between buildings Rear Form LP1Crt< - 'TOTAL 2000 for Wlrllws' appIdisaI saflwa'e by a la more. i1c. - 1-800-ALAMODE PHOTOGRAPH ADDENDA \^/illiam Has 304 Main Street Stml IA Z" Code 52001 -' Alley ~ I 1 -.J .... i ... ! Main Street -i ....; ~.,-. - J l -l i J Foon lPlCPIX - -rOTAL 2000 fof Wrmws' apjlIaisa/ sottwcwe by a la ~. 0:. - 1-800-AlAMODE PHOTOGRAPH ADDENDA 1M1Iiam Has 304 . Main Street Slate IA .~;b:~\~-. ~\:: "-~~>.\::: :,~:"-. -". ',' ~~'.-.' Rear Rear fl.llnl LPlCPlX - "TOT At 2000 fur Wildows' appraisal software by a La mode. ioc. - 1-800-AlAMODE Code 52001 cm.IPl\R.ZV3LE S.l\LES DATA SHEETS AND PHOTOS - ADDENDUM I LA.'ND SALES BUILDING SALES I ..; ] l FELDE~~ APPRAISALS - DUBUQUE, IOWA (JJ I-- Z ill ~ I-- (JJ :J -, o <{ ill ~ en <{ a::: <{ Q.. ~ o u o z :5 ~I I I I eo I 0 T"" C"'l I~I I I 0 I U') !o N 0 U') I 0 I I 0 eo 0 r- eo r- 0 ~I I I ill ir7 I~ ill ir7 ir7 ir7 I eo I (JJ (JJ U') I :J :J ir7 0 I I 0 -I I 0 ill U') U') > I I I ~ N 0 '-' a::: I-- I-- I-- _L Q.. 0 0 0 0 ~ Z ir7 Z Z ir7 ir7 ir7 ir7 I-- 0 0 I-- 0 ill eo 0 I-- (JJ I I I I I I I I 0 <{ :J eo Z U -, U') :J 0 0 ir7 ir7 ir7 ir7 ir7 ir7 ir7 ir7 ir7 0 ~ <{ a::: I-- 0 0 0 0 0 0 0 (JJ 0 0 0 0 0 0 0 (JJ I ~ :J I C"'l N C"'l C"'l C"'l U') C"'l <{ ill -, :J ~ 0 ir7 ir7 ir7 ir7 ir7 ~ ir7 ir7 0 (JJ <{ ill I-- 0 eo co v N U') r- C"'l 0 T"" ~ N U') V ...- 0 T"" 0 (JJ N T"" 0 0 0 6 0 6 eo ill :J ir7 ~ -, 0 i= <{ ir7 ir7 ir7 ir7 ir7- ir7 ir7 ir7 ill (JJ Z (JJ ill 0 v v ill v v v C"'l C"'l ~ N U U a::: u u u u U I-- T"" ...- Ol eo eo co co C"'l 0 U') U') Ol N eo ~ v r-: a::: v r- eo eo Ol v N V U. ill ill ...- ir7- ir7 ir7 ir7- ir7 ir7 ir7 Q.. N ir7 0 ir7 (JJ (JJ N 0 ...- 0 C"'l 0 co v 0 Ol Ol co U') C"'l r- r- eo co eo Ol N U') co U') v ...- N ill 0 C"'l 0 eo v 0 ...- Ol r- N N ...- C"'l C"'l N Ol ...- (JJ C"'l ...- co co co co r- eo Ol Ol Ol I~ 0> Ol Ol Ol -.. -.. -.. -.. -.. -.. -.. C"'l U') ...- 1C"'l C"'l Ol r- v ill N 0 0 'N 0 ...- 0 ...- -.. -.. -.. 1-.. -- -.. -.. -.. I-- N v N 1...- co ...- C"'l eo <{ <{ ...- 0 ...- 0 0 ...- 0 0 -.. 0 Z C"'l 0 0 0 0 0 0 0 Ol 0 0 0 0 0 0 0 U') 0 0 0 0 0 0 0 ~ N U') 0 co C"'l 0 U') U') Ol 0 co v v 0 N eo ill N ...- N C"'l ir7- ...- N ir7 ~ ir7 ~ ir7 1ir7 ir7 ir7 ~ <{ (JJ Z I I -1 I-- I-- ill <{ ill I-- ill > I-- ~ ill 0 ill ill <{ ill I-- a::: > ill 0:: ~ ill Z I-- ~ 0:: I-- ~ 0:: ill (JJ en I-- (JJ I-- I-- U 0:: a::: (JJ I I-- ill I(JJ @) <{ ill I-- ill I-- Z 0:: II 0 n.. (JJ r- ill I-- I-- I ill a::: :J I-- U (JJ C"'l t- U ill U <{ ...- .,- ~ 0 I-- I I-- ...- I-- <{ ~ (JJ ill I-- <{ <{ I-- I-- (JJ I-- I 0 U I <{ (JJ U ill I I-- N ~ ~ I-- ..c 0 ill 0:: S v ~ ill ill v co 0 -, 0 ...- (J) ...- ...- ...- en 0 ..- N C"'l v U") ~ r- eo :J <{ 'It: 'It: "It 'It: "It "It "It (JJ ~ o ill :J o :J m :J o T"" u. o (JJ ~ <{ (JJ <{ a::: Q.. Q.. <{ Z <{ ~ 0:: ill o ~ ill LL lillDRESS: S.:\LE PRICE: S.:\LE D.:;"TE: DOCffi.1ENT : LEGAL: SELLER: BUYER: LOT SIZE: ZONING: $ PER SQ. FT. L.llliD COMPARABLE .. 1 \'lHITE STREET AT 7TH STREET, DUBUQUE $292,593 12/23/93 893-94 S. 25' CITY LOT 325, CITY LOT 324, LOT 1 CITY LOT 319, CITY LOT 322, AND CITY LOT 323 THE FISCHER COMPANY DUBUQUE COUNTY BY CONDEMNATION 20,892 SQUARE FEET C4 $14.00 COMtvlENTS: LEASED FOR 18 YEARS, WAS $822 FOR LOTS LEASED BY COUNTY. FORCED SlI.LE, FISCHER COMPANY FOUGHT IT AND GOT HIGHER PRICE. LAND COMPARABLE # 2 ADDRESS: 14TH AT CENTRAL AVENUE, DUBUQUE, IOWA SALE PRICE: $105,000 SALE DATE: 4/5/91 DOCUMENT #: 3240-91 .. LEGAL: PARTS OF CITY LOT 449 AND PARTS OF 456 SELLER: DUBUQUE BANK AND TRUST COMPANY BUYER: CLIFFORD G. WALSH, INC. LOT SIZE: 13,990 SQUARE. FEET 1 I J ZONING: C-4 DOWNTOWN COMMERCIAL 1 1 J $ PER SQ.FT.: $7.50 COMMENTS: ASSESSORS CARD 10-24-412-006 (PREVIOUSLY SOLD 1/91 FOR $7.60 PER SQUARE FOOT), 10-24-412-007/003. PARKING LOT PAVED AND READY FOR USE. SOLD TO ADJOINING PROPERTY OWNER, WITH EVENTUAL TRADE/SELL OF OTHER ADJOINING PROPERTY FOR BANKS EXPANSION IN 1994. . LAND COMPARABLE # 3 ADDRESS: E. 20TH STREET WEST OF ELM STREET, 2006 WASHINGTON STREET, 2027 ELM STREET, 399 E. 20TH, 2032 ELM STREET, 2010 ELM STREET, AND 2042 WASHINGTON STREET SALE PRICE: $31,000, $39,000, $20,000, $62,000, $45,000, $42,000, $23,000, LESS $20,000 HOUSE, PLUS DEMOLITION SALE DATE: AND IMPROVEMENTS OF ESTIMATED $2~_, 000 - $270,000 11/21/94 THROUGH 1996 . .. DOCUMENT #: 14940-91, AND OTHERS LEGAL: LENGTHY .. SELLER: POTTS, YARDAUS, SCHROEDER, AAA, BETTNKE, BETTNKE, AND BERWANGER .. BUYER: GROSS AND GRONEN LOT SIZE: 11,904; 4,450; 2,610; 2,147; 2,225; 4,450; AND 4,913 SQUARE FEET LESS 2,438 EQUALS 30,261- SQUARE FEET .. ZONING: WAS RESIDENTIAL TO BE CONVERTED TO COMMERCIAL C2 .. $ PER SQ.FT.: $8.92 COMBINED AS ONE ~ COMMENTS: CITY CONCURS TO BE REZONED FOR COMMERCIAL USE. ACROSS STREET FROM PIZZA HUT, AND C2 NEIGHBORHOOD SHOPPING DISTRICT. PURCHASED LOT AND 6 HOUSES (PLANS ARE TO REPAIR liliD RESELL ONE HOUSE FOR $20,OOO) BUT KEEP PART OF LOT. EXPECTS DEMOLITION COSTS TO BE $28,000. ATTEMPTING TO PURCHASE - 4. REMAINING HOUSES FOR APPROXIMATELY A TOTAL OF 53,200 SQUARE FEET OF LAND (EXPECTING TO PAY ERZEN $35,000, HEDLEY $50,000, HELLING $50,000, GRUTZ $40,OOO), PLUS $20,000 MORE FOR DEMO FOR TOTAL - OF $465,000 OR $8.74 PER SQUARE FOOT TOTAL. CONFIRMED WITH BUYERS 1/5/97. A ., I J . h~D COMPARABLE # 4 .=illDRESS : ELM STREET BETWEEN 13TH AND 14TH STREET, DUBUQUE $350,000 LESS $4,000 FOR BUILDING S.:-..LE PRICE: SALE D.'\. TE : 01/23/96 DOCUl\IENT;:r: 881-96,149-96 LEG.:-..L: N. 1/2 LOT 122, S. 1/2 LOT 124, N. 20' LOT 125, LOT 141, LOT 140, N. 1/2 LOT 139, S. 1/2 LOT 139, N. 1/2 LOT 138, S. 1/2 LOT 138, W. 1/2 LOT 137, ALL IN EAST DUBUQUE .~DITIONi AND LOTS 1 AND 2 BRADLEY WASHINGTON STREET PLACE, SELLER: WOLFF BUYER: DUT~~C COMMUNITY CREDIT UNION LOT SIZE: 38,550 SQUARE FEET ZONING: COMMERCIAL C4 $ PER SQ. FT. : $8.98 Cmli'IENTS: WOLFF HAD PURCH.~SED ALL OF LOTS OVER PERIOD OF EIGHT YEARS AND DE1'IOLISHED ALL BUILDINGS EXCEPT FOR 7,400 WAREHOUSE AND 2,000 SQUARE FOOT TWO STORY OFFICE AND APARTMENT, \'HTH. FENCING .='dWUND ENTIRE LOT. ALLEY RUNS THROUGH THE CENTER OF THE ENTIRE PARCEL .!\.ND HAS NOT BEEN VACATED. 5,000' SQUARE FOOT WAREHOUSE WAS SOLO FOR $4,000 AND REMOVED FROM SITE. REMAINING BUILDINGS OCi'IOt. I SIlEO INCLUDED. .. }\DDRESS : SALE PRICE: SALE DATE: DOCUMENT: LEGAL: SELLER: BUYER: LOT SIZE: ZONING: $ PER SQ. FT. : COMMENTS: LAND COMPARABLE # 5 S.w. CORNER 11TH AND CENTRAL STREET, DUBUQUE $43,000 6/3/96 7112-96 N. 41' CITY LOT 165, DUBUQUE LOETSCHER M I lLn..L..n..K I S 4633 SQU.n..RE FEET COMMERCIAL $9.28 10-24-464-008. LAND AND PARKING LOT. h~D COMPARABLE # 6 .~DRESS: 14TH AT CED_~ STREET, DUBUQUE S.~E PRICE: $100,000 SALE DATE: 11/19/96 DOCUNENT : 13732 - 96 LEGAL: LOT 383, 385, N. ~ 386, 387, S. ~ 386; ALL IN E. DUBUQUE ADDITION, DUBUQUE SELLER: FDL BUYER: DUPACO COMMUNITY CREDIT UNION LOT SIZE: 20,570 SQUARE FEET ZONING: t~AS INDUSTRIAL, REZONED TO COMMERCIAL $ PER SQ. FT.: $4.86 COHt-lENTS: 11-19-153-001. SOLD TO ADJOINING OWNER (BANK). USED FOR P.l\RKING LOT. 1 1 1 ADDRESS: SALE PRICE: SALE DATE: DOCUMENT: LEGAL: SELLER: BUYER: LOT SIZE: ZONING: $ PER SQ. FT. : COMMENTS: LAND COMPARABLE # 7 16TH AT KERPER BOULEVARD, DUBUQUE $225,000 3/7/97 2254-97 LOT 2 WENDY'S PLACE, DUBUQUE RUPPEL MULGREW OIL 2.1 ACRES WAS INDUSTRIAL, REZONED TO COMMERCIAL $2.46 11-19-126-007. SPLIT IN 1997 FOR THIS SALE. LAND COMPARABLE # 8 ]\DDRESS : 2140 ~~ITE STREET, DUBUQUE SllliE PRICE: $55,700 PLUS DEMOLITION $41,230 ($96,930) S.i\LE D.n. TE : 3/24/98 DOCm-lENT : 4334-98 LEG.n.L : N. ~ W. ~ LOT 37 L. H. LANGS ADDITION SELLER: ~1ULGRE\<l BUYER: FIRST_Z\R BANK LOT SIZE: 32 X 100 = 3,200 SQUARE FEET ZONING: R2A RESIDENTIAL, WITH CONDITION USE PERMIT FOR COMMERICAL USE $ PER SQ.FT.: $30.29 COMMENTS: 10-24-208-002. PROPERTY HAD A DUPLEX WITH CONCRETE ASBESTOS SIDING. PURCRn.SER WAS .n.DJOINING PROPERTY OWNER. DEMOLITION INCLUDED HOUSE, FENCING, LANDSCAPING, AND HAZARDOUS MATERIAL REMOVAL; FILL FOR BASEMENT; REMOVAL AND CAP OF UTILITIES. VERIFIED WITH FIRSTAR REAL ESTATE DIVISION, PUBLIC RECORDS, AND DEMOLITION BID. CIl W ...J CD ~ < n. . 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COMPARABLE # 1 PHOTO 710 # 2 lillDRESS - 1296 CENTRAL AVENUE , DUBUQUE SALE PRICE - $32,000 $52,000 $72,000 SALE DATE - 06/15/88 4/30/91 10/31/96 DO Cll-lENT ~ - 8869-88 4177-91 13001-96 Tt SELLER - DUBUQUE BANK LENSTRA DAHLQUIST BUYER DOWNS/LENSTRA DAHLQUIST ROUTLEY GROSS BLDG. SIZE 5,724 SQUARE FEET, THREE STORY BUILDING WITH 742 SQUARE ~EET ~ARAGE AGE 1886 LOT SIZE 2,660 SQUARE FEET.. ZONING - C-4 USE - COMMERCIAL MAIN FLOOR _~~ APARTMENTS UP PRICE PER BUILDING SQUARE FOOT - $5.59(88) $9.08(91) $12.58 (96) O.A.R. - VACANT OWNERS (1991) VACANT (96) POOR CONDITION, UPPER LEVELS. WERE UNUSABLE IN 1988. DOWNS SOLD INTEREST TO LENSTR~ 10/88. SOME REHAB, PAINT EXTERIOR, FAIR CONDITION IN 1996. ... .. .. " ~ J .. j l 1 1 1 COMPARABLE # 2 PHOTO 706 #3 ADDRESS - 1842 CENTRAL AVENUE, DUBUQUE S.;;LE PRICE - $56,000 $64,000 SALE D.~TE - 11/2/88 09/30/92 DOCUMENT .. 9339-88 13551-92 SELLER - RHO i'-1 B ERG HOUGH BUYER HOUGH RINGS, INC. GROSS BLDG. SIZE 5,250 SQUARE FEET, THREE STORY BUILDING WITH FULL \-lALKOUT B.~SEi'-1ENT TO RE.~ TWO CAR PARKING AREA AGE - 1886 LOT SIZE 2,400 SQUARE FEET, WITH PAVED PARKING ZONING - C-4 USE - COMMERCIAL ON ~~IN, FOUR 1 BEDROOM APARTMENTS UP PRICE PER BUILDING SQUARE FOOT - $10.66 $12.19 O..~. R. - OWNER OCCUPIED MAIN FLOOR AND BASEMENT COl\1HENTS - MINOR IMPROVEMENTS SINCE 1988 SALE. 3.6% PER YEAR INCREASE IN VALUE. SOLD BUSINESS SEPARATELY. COMPARABLE # 3 PHOTO 1494 #12 .:ulDRESS - 163 K~IN STREET, DUBUQUE S.".\LE PRICE - $44,700 $55,500 6/6/95 S.zU,E D.n.. TE - 2/27/91 DO Cur-IE NT #.: 1864-91 5363-95 SELLER - ~~VEST SAVINGS BANK M & S BUYER rvr & S LEASING TOTH GROSS BLDG. SIZE 5,016 SQUARE FEET OVER "2 STORY BRICK .l\GE - 1900 LOT SIZE - 22 X 114 - 2,508 SQUARE FEET, NO PARKING ON SITE ZONING C4 USE - INDUSTRIAL USE WITH VARIANCE. REVERTED BACK AFTER VACk~CY AND REPOSSESSION BY BANK. OFFICE ON 2ND. PRICE PER BUILDING SQUARE FOOT - $8.91(91}" $11.06(95} O..z\. R. - VACANT COMPlffi...i\BLE # 4 PHOTO 1367 #0 ., I I I I: I, Il 11 ~ .=\DDRESS - 231 \'lEST 2ND STREET, DUBUQUE SALE PRICE - $46,000 SALE DATE - 30 NOVEMBER 1990 ~ ! DOCilllENT .ll tr - 10771-90 ! i I , I t I I . I SELLER - HAT E Rl\'l2'u\T BUYER BAKEY GROSS BLDG. SIZE 6160 SQU.~E FEET OVER 3 STORY AND ONE STORY .~DITION, ALL BRICK .=\G2 - 1900 LOT SIZE - 40 X 64 - 2560 SQUARE FEET, NO PARKING ON SITE ZONING - C4 USE - COMMERCIAL ON ~ffiIN, VACANT 2ND fu\TD 3RD - UNUSABLE PRICE PER BUILDING SQUARE FOOT - $7.47 TOTAL, $17.97 ~~IN O.I\.R. - OHNER .=\SSESSORS 3-17-14-6 .11 COMPARliliLE # 5 PHOTO 1318 #7A ;1 AGE - 1890 Ii r J II " 'I; IJ: ill i,i I" f:: "I. Il If I t fi 1.,.:11 L1J ;;/, ij' 'I i i r i ~ I I /. I /: d i: ADDRESS - 2002 HHITE STREET, DUBUQUE SALE PRICE - $35,000 CONTRl\.CT $42,500 -$60,000 CASH S .'\LE DATE - 7/01/88 04/19/91 6/19/95 DOCUMENT " 5608-88 3834-91 7811-95 rr - SELLER - E I CHr-LZll\T MID-SOUTH ROBERTSON BUYER [VIID-SOUTH ROBERTSON DEELY GROSS BLDG. SIZE 3,432 SQUARE FEET OVER 2 STORY BRICK, HITH 884 SQUARE FEET GAR~GE LOT SIZE - 26 X 100 - 2,600 SQUARE FEET ZONING - C4 USE - ELECTRIC COMPANY (88) OFFICES, WAREHOUSE (91) AND APARTMENT PRICE PER BUILDING SQUARE FOOT - $10.20(88)/$12.67(91)/$17.48(95) :J.A.R. - 14.8?s- 20~IHENTS: IfvlPROVE~lENTS SINCE 1988 INCLUDE APARTMENT ADDED ON SECOND FLOOR. RECORDED 08/2/95 FOR MOST RECENT SALE. AS PER DMLS, INCOME $12,900 GROSS (GIfvl = 4.65), $10,470 NET (OWNER MANAGED AND \1.".INT.l\INED, O.A.R INCLUDES ESTHL!l.TES FOR [VLl\NAGEHENT .Zll\TD RESERVES). .'illDRESS - S.;'LE PRICE - SALE D.l\TE - DOCUl'-lENT rr - SELLER - BUYER COMP.l\RABLE # 6 PHOTO 713 $60,000 1199 CENTRAL AVENUE, DUBUQUE 04/28/88 3738-88 Rl\RVEST SAVINGS BANK. RONALD WHITE $106,000 03/20/92 4072-92 - . WHITE AGE - GROSS BLDG. SIZE 14,280 SQUARE FOOT THREE STORY BRICK ROBERT/WANDA HERTING LOT SIZE - ZONING - USE - 1900 8,710 SQUARE FEET C-4 APARTl\'IENTS O.A.R. - PRICE PER BUILDING SQUARE FOOT - $4.20 MOSTL Y V.n..CANT $7.42 (1992) ;;: H COr.-IPAR.lillLE # 7 PHOTO 2699 #20 . I I I ; /, j .. ! I' I . I, /.: . ! it .1 ,. t I ~ 'II I Ii: Ii: ~ Ii I/; ': I' .: i! 1'1, ; i; [ ;i ! r U .lJ. rr - 1838 CENTR.~ AVENUE , DUBUQUE, IOWA $55,000 $58,500 11/11/93 5/31/96 15882-93 6633-96 HCDO'l'1ELL LEGR.ZlliD LEGR..ZU'm BLUM , ; : I !"1. }\DDRESS - S.~E PRICE - S}\LE D.!\TE - DOCill'IENT ; . i , ,. SELLER - ;, r ;. i AGE - 1900 r :i 'I ; ~ j: ., ~ Ii ill J!" 'I' i .! BUYER BLDG. SIZE 5,532 SQUARE FEET THREE STORY BUILDING (900 SQUARE FEET OVER 3 STORY, 1416 SQUARE FEET OVER TWO STORY) $ PER SQ.FT.- $9.94 $10.57 LOT SIZE - 2,340 SQUARE FEET ZONING - C4 USE RETAIL SALES, WITH TWO APARTMENTS O..LI..R. - GH'I 3.04 COl'li"IENTS - m'lNER ON tvL!\IN, ONE VACANT APARTMENT. OWNER PAYS FOR HEAT. Nm<l RUBBER ROOF. DATA FOR RENT FROM MLS/REAL ESTATE AGENT. 10-24-256-008 COMP.~~LE # 8 PHOTO .WDRESS - 84 ~~IN STREET, DUBUQUE ;, 'I Ii ii " II II il I'!; j J, '/ 'n S.'\LE PRICS - $60,000 S.i\LE D.i\TE - 30 APRIL 1993 DOOR'IENT JJ. tr - '1758-93 SELLER - LOVE BUYER OLD ~~IN HOTEL LIMITED PARTNERSHIP GROSS BLDG. SIZE 6,660 SQUARE FEET THREE STORY BRICK }\GE - 1880 LOT SIZE - 5,368'SQU.i\RE FEET ZONING - C4 USE - ROOMING HOUSE APARTMENTS PRICE PER BUILDING SQUARE FOOT - $9.00 O. .~. R. - PART VACANT CmtMCN'l'S - 16 UNITS, BEFORE UPGRADES. TO BE' OPERATED WITH 90' MJ\IN. DOES NOT t-IEET N-IERIC.llli DISABILITIES ACT REQUIREMENTS. COMPARl\BLE # 9 PHOTO 2554 #21 }\DDRESS - 1266 JACKSON STREET, DUBUQUE S.'\LE PRICE - $55,000 S.'\LE D.'\ TE - 01 DECEMBER 1993, RECORDED 30 DECEMBER 1993 DOCUHENT r. - 160-94 SELLER - YOERGER I ! il :/, ~ ~ :E E . :~ ;~ :1; .~, m f: ;.-;i "I : I B(JYER HE.~TL.Z\.i'\JD INVESTMENTS GROSS BLDG. SIZE 4,330 SQUARE FEET OVER 3 STORY .'\GE - 1890 LOT SIZE - 27 X 100 - 2,700 SQUARE FEET, SOME PARKING ON SITE ZONING - C4 USE - Rom'IING HOUSE PRICE PER BUILDING SQU.~E FOOT - $12.70"REAL ESTATE ONLY O..D....R. - OImER, PLUS TENANTS IN APARTMENTS i . " 1 .'\SSESSORS 4-1-17-3 ; , j I I I I I I COHl'-IENTS - BRICK, STONE FOUNDATION, PL.Z\STER AND PANELED WALLS, FORCED ~oJ.z\Rt'-1 .u..IR, NO AIR CONDITIONING, NO ELEVATOR, NO SPRINKLERS. Sr-U\LL REFRIGERATOR FOR EACH UNIT. 8 UNITS AND ONE BATH PER FLOOR UP, l"IAIN FLOOR HAS M.Z\.i"\lAGERS AP.u..RTMENT AND COMMUNITY ROOM. COMP A.~.i\BLE # 10 PHOTO 3437 #17 .='WD:\ESS - 1473 CENTR~ AVENUE, DUBUQUE SALE PRICE $310,000 S.'\L2 D.'\TE - 1/2/96 DOCffilENT .u 11" - 3744-96 SELLSR ARE.;;' EDUCATION '0""'\ ~ .\-.......:""'1 =::.U_::..:\. B .'\.i\TN E R G~OSS BLDG. SIZE 20,400 SQ. FT. FOUR STORY, HITH FULL BASEMENT AGS - 1890 LOT SIZE - 17,920 SQUARE FEET, INCLUDES LOT ACROSS STREET ZONING C-4 USE - OFFICES fu~D PARKING LOT PRICS PER BUILDING SQUARE FOOT - $15.20 O. .~. R. - Vf\Cfu~T BUILDING Cmll'lENT - VAC..l\NT IN 1997 fu~D AT TIt-'IE OF SALE. PARKING LOT WAS P.~VED ."-ND USED BY PREVIOUS mmER. 10-24-407-008, 10-24-408-005, 10- ~4-408-013, 10-24-408-014 f "I ~ r ~ m ~. I.~ . l. H ; , ., 1 J ~ " i i. I' i r ; ~ d Ii ~ Ii : e: I/" 1 II I ADDRESS - SALE PRICE - Sl\LE DATE - DOCl.Jl'1ENT U tr - SELLER - BUYER COMPARABLE # 11 PHOTO 398 E. 7TH STREET, DUBUQUE 1 , 1 , ; 1 l .1 ; ; I .r. t , '1 ;~ ~ L ~fi ~ '. f ~. ~ $100,000 2/20/96 2130-96 B.~CKES KRETZ GROSS BLDG. SIZE 9,964 SQ.FT. TWO STORY BRICK, NO BASEMENT AGE - LOT SIZE - ZONING - USE - 1918 37,332 SQrr~E FEET LI PLUMBING BUSINESS PRICE PER BUILDING SQUARE FOOT - $lO.04 :J..'\.R. - 201'<H"IENT - OWNER FAIR CONDITION. ll-l9-356-001 COMP.'\R.ZU3LE # 12 PHOTO ADDRSSS - 2412 CENTR~ AVENUE, DUBUQUE SALS PRICE - $25,000 $45,000 S.'\LE DATE - 5/16/94 CONTR~CT 6/28/96 DOCIDIENT .. 8101-94 7847-96 SSLL2R - PFOHL HOFFM.!I.NN 3lJYSR HOFFf.'LZU'JN SHETH . ~ ! " i GROSS BLDG. SIZE 2,128 SQ.FT. TWO STORY FRAME, FULL BASEMENT .~GE - 1880 . ! j ! I i i I ; I : j LOT SIZE - 4,275 SQUARE FEET ZONING - C4 USE - V.'\C.ZU'JT PRICE PER BUILDING SQUARE FOOT - $21.15 O..Z\.R. - VAC.ZU'JT Cmll-tENT - 10-13-378-023, LISTED AT $45,000 FOR 670 DAYS. COMPARABLE # 13 1 SELLER - COOK 1/ I .~ 'I /1 ii I: ,. ii 'I Ii I; Ii ii I: ,: 11 /' i I I: I. . /' I Ii 11 PHOTO 3437 #22 ADDRESS - 1701 CENTRAL AVENUE, DUBUQUE SALE PRICE - $63,000 S.!\.LE D.!\. TE - 4/26/96 DOCUMENT tr - 5116-96 BUYER K. Z\!'.1 P GROSS BLDG. SIZE 4,200 SQ. FT. THREE STORY BRICK, PART BASEMENT AGE - 1895 LOT SIZE 2,093 SQU.Z\RE FEET ZONING - C4 USE - TAVERN ill~D AP_Z\RTMENTS PRICE PER BUILDING SQUARE FOOT - $15.00 O.A.R. - 13.9%, 3.5 GIM COMMENT - AVER.!\.GE CONDITION. 10-24-252-028. GROSS INCOME OF $17,940, NET INCOME OF $8,763 (INCLUDED ESTIMATED EXPENSES FOR ~~~AGEMENT _Z\ND RESERVES) . COMP.Z\R.ZffiLE # 14 PHOTO .Z\DDRESS - 1487 CENTRAL AVENUE, DUBUQUE SJ\LE PRICE - $45,000 Sll.LE D.Z'l.TE - 1/15/97 CLOSED 2/19/97 DOCm-IENT .u "ff - 1815-97 SELLER - LINK BUYER SULLIVJ\N GROSS BLDG. SIZE 2,652 SQ.FT. TWO STORY BRICK, FULL BASEMENT IHTH L.l\RGE GA.R.AGE .Z\GE - 1880 +/- LOT SIZE - 2,550 SQUl\RE FEET ZONING - C4 USE - VACANT RETAIL .~~D APARTMENT PRICE PER BUILDING SQUARE FOOT - $16.97 O..l\.R. - VACANT COi'Ii'IENT - FAIR TO .Z'l.VERAGE CONDITION. NEWER ROOF AND SOME WINDOI'lS. INTERIOR NEEDS UPDATING AND GARZ\GE IS POOR. 373 DAYS ON THE i'LZ'l.RKET. COMP.~LE # 15 PHOTO ADDRESS - 1246 CENTR~ AVENUE, DUBUQUE Ii , I , I I ! Ii /I! :i " :1 l Ii I: iii .;1 jd , I 1:1 i'i " I. '" I"~ ;1 II! I:; !'l ";1 ., , , ;-r q I;, it SALE PRICE - $94,000 SALE DATE - 5/2/94 DOCUMENT " rr - 6381-94 SELLER - HALSH BUYER JK-JET GROSS BLDG. SIZE 7,650 SQ.FT. THREE STORY BRICK, ~ BASEMENT AGE - 1890 LOT SIZE - 2,560 SQUARE FEET ZONING - C4 ni I' I I I I I USE - HAREHOUSE, W.1\S RETAIL ORIGINALLY PRICE PER BUILDING SQUARE FOOT - $12.29 O.A.R. - OWNER OCCUPIED COMrvlENT - 10-24-418-006. F.1\IR TO AVER1\GE CONDITION FOR STOR1\GE. NO PARKING. ASSESSED VALUE $39,830. Fh1\T ROOF, GAS SPACE HE.Z\TERS. j11 ;; I ~ ~ ',! ' COMPAH.ABLE # 16 I i I i i I i L !j . .'\DDRESS - 190 ~l~IN STREET, DUBUQUE S.'\LS PRICE - $20,000 SALE D.Z\TE - 5/21/98 ; I DOCilllENT # 8236-98 AGE - 1900 j. ; j I j I. !: i: i: ji I. I, ; I: f. j; r: i I ! SELLER - HOS BUYER GREENFIELD GROSS BLDG. SIZE 6,951 SQ.FT. THREE STORY BRICK FULL BASEMENT LOT SIZE - 2,305 SQUARE FEET ZONING C4 USE - CINE~~ X THEATER PRICE PER BUILDING SQUARE FOOT - $2.88 O.A. R. - OI-lNER OCCUPIED COH~lENT - 10-25-282-002. INTERVIEWED BUYER. FAIR TO POOR CONDITION. NO PARKING. ASSESSED VALUE $38,820. FLAT ROOF, GAS. FWA/CA, PLASTER WALLS, WOOD FLOORS. COMPAR.Z\BLE # 17 PHOTO }\DDRESS - 137 ~~IN STREET, DUBUQUE S.'\LE PRICE $200,000 9/25/96 S.'\LE D.'\TE - DOCUNENT rr - 11490-96 SELLER - HEBER PAPER BUYER DUBUUQE INFUTURO 3ROSS BLDG. SIZE 29,184 SQ.FT. FIVE STORY BRICK FULL BASEMENT f\GE 1906 LOT SIZE - 7,296 SQUARE FEET ZONING - C4 USE - OFFICES AND WAREHOUSE PRICE PER BUILDING SQUARE FOOT - $6.85 J..C\.R. - OWNER OCCUPIED CO~It-IENT - 10-25-281-013. AVERZ\.GE CONDITION, NO OFF-STREET PARKING. ASSESSED VALUE $145,230. ~IEAT, CENTRZ\.L AIR IN ~L~IN FLOOR OFFICES, PAi\JELED ;<1000 FLOORS, UNFINISHED WALLS IN WAREHOUSE. i .1 . i". Iff i ii; ; ll~! ; F 1 j lii ~ i JII II I l\.' 1ft!; I'i' I, II ! II,. II: I !. j . ! :. t I' II! ij; II: II' ii' ji , MOSTLY W.Z\.REHOUSE. FLAT ROOF, STEAl"! WALLS IN OFFICES, COMPARABLE # 18 _IillD~ESS - 1543 CENTRAL AVENUE, DUBUQUE S.'\LE: PRICE - $46,000 S.'\LE: DATE - 4/10/98 DOCill'IENT Tr - 5670-98 S2LLER DUBUQUE RZ\.J."\J'K Ai"\J'D TRUST 3UYER GERr<Ll\IN GROSS BLDG. SIZE 3,506 SQUARE FEET, TWO STORY BRICK FULL BASEMENT. it _~GE - 1894 LOT SIZE - 2,800 SQUARE FEET ZONING - C-4 USE - COMMERCIAL AND 2 APARTMENTS PRICE PER BUILDING SQUARE FOOT - $13.12 O.I\.R. - VACAi"\J'T cmn.IENTS - 10-24-403-014. ASSESSED VALUE $60,810. SOLD 5/16/97 ON SHERIFF'S DEED FOR $80,627. HAD SOLD 1/2/92 FOR $54,500 REAL ESTATE AND $26,500 BUSINESS. WAS CAFE ON ~l\IN FLOOR. BRICK, FLAT ROO~, 2 FURNACES, 2 CENTRl\L AIR. MINIMAL OFF-STREET PARKING. COMPAR..i\BLE # 19 .WDRESS - 605-609 E. 221-0-0 STREET, DUBUQUE S.Z\LE PRICE - $68,000 SALE D.Z\TE - 4/8/98 DOClJi'.IENT TT - 5911-98 SELLER - FULLER BUYER ESSER GROSS BLDG. SIZE 4,160 SQUARE FEET, TWO STORY BRICK FULL BASEMENT ; l ~ AGE - 1900 LOT SIZE 5,900 SQQZ\RE FEET ZONING - C-1 USE - C01-1tvlERCIAL AND 2 APARTMENTS PRICE PER BUILDING SQUARE FOOT - $16.35 J..Z\.R. - 14.S%- :Ofvl1-IENTS - 10-13-462-012. ASSESSED VALUE $66,330. BRICK, FLAT :\002 I HOT H.Z\TER HElI.T, NO CENTR.Z\L AIR. NO OFF-STREET PARKING. INCOME ?ROl'-'l DfvlLS 14171. 385 Dl'l.YS ON tvLZ\RKET. COMP.~LE # 20 I: J i i i , ~ ; ADDRESS - 1266 CENTRAL AVENUE, DUBUQUE i j' i r i I i , . ; I' i : S.Z\LE PRICE $78,000 SALE DATE - 9/2/97 DOCUMENT " n - 10586-97 SELLER - VOSS BUYER 1<)'Jl...LLACE GROSS BLDG. SIZE 4,770 SQUARE FEET, THREE STORY BRICK FULL BASEMENT, ATTACHED GARZ\GE L ;. .Z\GE - 1881 f ! :i 1 ;: J LOT SIZE - 2,560 SQUARE FEET ZONING - C4 ,. ~ : USE - COMMERCIAL AND 4 APARTMENTS ., ' II 1j :j ,I .1 I I PRICE PER BUILDING SQUARE FOOT - $16.35 O.A. R. - 14.3% COMMENTS - 10-24-418-004. ASSESSED VALUE $64,820. BRICK, FhZ\T ROOF, HOT WATER HEAT,NO AC. DMLS 15034, 21 DAYS ON MARKET. O.A.R. BASED ON MLS FIGURES PLUS MANAGEMENT, RESERVES.SEPARZ\TE UTILITIES FOR tvlAIN FLOOR &\ID 1 BEDROOM AP.Z\RTMENTS. CONP.J\Rl>J3LE # 21 .;'DDRESS - 1602 CENT~~L AVENUE, DUBUQUE SALE PRICE - $140,000 SALE D.~TE - 1/2/98 DOCUNENT .u tr - 471- 98 CONT~~CT SELLER - TURi\JER BUYER ]\.RENSDORF GROSS BLDG. SIZE 5,100 SQU.~E FEET, TWO STORY BRICK FULL BASEMENT .;'GE - 1900 LOT SIZE - 2,560 SQU~E FEET ZONING - C4 USE - CQi\1i"lERC r.~L PRICE PER BUILDING SQUARE FOOT - $27.45 O.A.R. - N/A CQi\lt'IENTS - 10-24-266-008. .~SSESSED VALUE $73,900. BRICK, FLAT ROOf?, GAS Hll\ CENTR.!\L AC. NO OFF-STREET PARKING. OWNERS BUSINESS ON BOTH LEVELS. TAVERN AND PUTT-PUTT GOLF. INSPECTED 1994. J\DDRESS - S.'\LE PRICE - S.'\LE D.:\"TE - DoeilllENT f1" SELLER BUYER COMP .ZL~i\BLE # 22 53-55 LOCUST STREET, DUBUQUE $73,000 2/26/94 3011-94 KALINOSKI ~1URPHY GROSS BLDG. SIZE ~ 5,332 SQUARE FEET, TWO STORY BRICK Pk~T BASEMENT AGE LOT SIZE - ZONING - USE - 1882 7,275 SQUARE FEET C4 COMrvIERCLl\L \'lITH TWO APARTMENTS ". ."".. .......- PRICE PER BUILDING SQUARE FOOT - $13.69 O.A.R. - N/A cmli'IENTS - 10-25-287-004. ASSESSED VALUE $55,450. BRICK, FLAT ROOF, G,l\S Hn\ NO AC. F.'\IR CONDITION OVER.Z\LL. GR.Z\VEL OFF-STREET P.'\RKING. AP.'\RTrtENTS NEEDED TO BE GUTTED TO BE USABLE. INSPECTED 19:1.\ . , .. PHOTOGRAPH ADDENDA 'Mlliam Hos 304 Main Street ue Slate IA Code 52001 1296 CENTRAL ":"_--. .. :.~ ..:~: .. tfll 1842 CENTRAL '- fornI lPICPlX - -rOTAl2000 tor WinXlws' appraisal software by ala fTlO(); ioc. - 1-800-AlAMODE PHOTOGRAPH ADDENDA \iVilliam Hos 304 . Main Street State IA Zi Code 52001 163 MAIN 231 W. 2ND Folm LPfCPLX - -rOTAl2000 tor WilOOws' appraisal software by a la mode, inc. -1-BOO-ALAMOOE PHOTOGRAPH ADDENDA BorrowedCfert VVilliam Hos I Ptooertv Ad0e5s 3CJ.4: . Main Street Cilv Dubuque CountY Dubuque State IA liD Code 52001 Lerdef City of Dubuque j"; 2002 WHITE ";1 .", " .; ~ 1 j :'1 ., ::: I i, Ii ,. d 1'1, o. il H. I!;. ," .!. ;!j; ":. I i: j' 1199 CENTRAL ; I j j. FtlIllI LPICPlX - "TOTAL 20c0 for WtnOOws' appraisal software by a Ia mode, n:. - 1-800-ALAMODE . 1 , I PHOTOGRAPH ADDENDA YVilliam Has 304 Main Street Slate IA Coo ue 1838 CENTRAL 84 MAIN Form lPICPlX - "TOTAl 2000 for Wll1dows' appraisal software by a la mode, inc. -1-600-ALAMOOE li ~ 52001 :1 ,1 ij ~ j ..1 '11. ;1; , 'Ii i ::!I; 'Ii Ii' ',j ;'1 :" I:T Ii! :i ";1 ., " ~ii ;1 .H : ~ I ;d; J: " iil jii !'. ;lrii i'i!/ i! ::t- ~ BOlTower/cr;ert vVilliam Has Prooertv A C<!P>..s.s 304 Main Street Cit/ DubuQue Cour.tv Dubuque State fA Zio Code 52001 ler.der City or Dubuque PHOTOGRAPH ADDENDA 1266 JACKSON .' " 'i I: ! : I. i i : i I I ,I Ii I ., :1 I :1 1473 CENTRAL FoH11 Lf'ICf'l'( - 'TOTAl2lX.'<l for WinOOws' appraisal ~e by a Ia more, ioc. -1-800-ALAMODE PHOTOGRAPH ADDENDA Wlliam Hos 304 Main Street BooowedCIiert Pro Address Cil' Dubuque lenCei City of Dubuque State fA ~'~:~~~"~~2{~t~~~S~~~ . ~~~~;,i .~'.~':.':<.'~i~~-"':.~"'.;':'':ii~.~L~-:f~l._::..:.:. i~r7:f~~~~~~-;'~ 1~~:~ ~~~~-t{i~ ,~..... '1:-L~T' ;~!~i~~T.i:J::~fi:i:iT'::t:;':~70~,(:::~~:Z~ ~~~ D:l;~~~ttF~.~ J.-J: .< ,). ..~,,~ i~' *-.:'!'- , 'to - .;:j, ~ . ~ u~.... ,~, "'~-:'\' 'f~ .~~!;;" ' I ~ll.,>-~-,~! " .f"::hp,...: ~1 ',04' '"')~~ .. .'-'-... .::t"'.., - 1.t~'"J"'~; t "-'". ~'...'~ '1 ; ,'-.._f! ...... ~_t,"..____'l ~ ,',. "':;;;t-..,. '.'_','1;" }- f'~ ...~. :'," .-.. ,.~:..", . t' ':-, J':'''':"''""'''-'' ""'-' "~_'r.>,,'l.' -,':' .. ~.....~ ::. '_... .: i ,I i. .'. ". t.: .. i.. \'- ,,' .: t . i .. I""" --- ..........'::;...:.....~ _ 'h..~~-:~~t: ~ ~ t ~?~..-:. '---'. - -'~~ r~.~ u ";....:...... #,,:'. .'~._. - . ~~-:g-ci:~:\:_ 398 E. 7TH STREET 2412 CENTRAL FilmllP1CPlX - 'TOTAL 2000 fo( Winilws' awaisal software by a la mode, ioc. - '-BOO-ALAMODE I L Code 52001 I, I' i :1 I: i PHOTOGRAPH ADDENDA BooowedC~I'( W/liam Has Prooert{ AdCress 304 Main Street C:r; Dubuc:ue U:lurt{ Dubuque State fA rill Code 52001 l~ City of Dubuc:ue ..-- 1701 CENTRAL 1487 CENTRAL f\llt11 lP1CI'C( - "TOTAL 2CCO tor WinWws' appr.lisaJ software by a Ia mode, inc. - 1-800-ALAMODE PHOTOGRAPH ADDENDA 'Mlliam Has 304 Main Street ue af Dubuque State IA 1602 CENTRAL 53-55 LOCUST Fom\ LPICPIX - 'TOTAl 2000 foe Wnbws' ~ software by ala mod.:, inc. - 1-BOO-ALAMOOE Code 52001 BorrowerJC~ William Hos Prcoertv Address 304 Main Street cav Dubuque County Dubuque State IA llll Code 52001 Ler.re City of Dubuque PHOTOGRAPH ADDENDA i, 'I 'I :=. i. I I J I , ! ~r~-Q- ". -:~~~~:~.~~~. ~-;~-:;;~i;'~ ':::::'-I";::;'~:~- _.:~~~~~~~ ,,~~fi,~~~-sJ;"~{tt~I:~c-j3rm~. ~"t~"i;":; ':,f~'28. "iC':; .';1 .~ 1~nit~:;;f?[~~~~~~~~c:~.J " J~,\ ~2:.:f~l! ~rl.\~!! k-J.lB! -.,~- I : ll5~1 ,--.~~ ',I~~- . _~, :'.~ ~~~ .:~~~~~~-;s , :','. - .' -' -.SCD ,'01 Q =oil,.......- ~ r-. ::~, ..t-~.~~~-~-.:~:_.~,t~~ ~..:::~ ~~.~~~"'~~~-':~"";'~"'~:"1.""~~""- " . ~:- !:~~~~ -...~~...-._~-::~~~ -,-,-, '-'-~ .:..~-s.~.::....__ ~~-- -~~~~~':.-:...'C~ 505-609 E. 22ND 1265 CENTRAL ftllnl LPICPlX - 'TOTAL 20c0 tor W"l11dows' appraisal software by a Ia mode, inc. - 1-800-ALAMODE PHOTOGRAPH ADDENDA William Hos 304 Main Street a:Ju State fA 137 MAIN 1543 CENTRAL foon LPICPIX - "TOTAL 2000 for Wffi:lws' appraisal software by a fa mode, ire. - 1-800-ALAMOOE l:o Code 52001 it if " I:: PHOTOGRAPH ADDENDA Booower!C!irt William Hos Procertv..\ddress 304 Main Street C~v Dubuque Count' Dubuque State IA ~Code 52001 leOO;i City of Dubuque - 1246 CENTRAL 190 MAIN f\lllll lPICPlX - 'TOTAL 2000 tor WilOOws' appraisal software by a fa mode, inc. - 1-BOO-AlAMODE i I I I, I' , I I' ! ; . . CITY OF DUBUQUE, IOWA MEMORANDUM March 11, 1999 To: Historic Preservation Commission From: Mark Noble, Assistant Planner N I ()A Cindy Steinhauser, Neighborhood Dev opment Specialist\!' Re: Financial Incentives for Historic Buildings Several of you have called regarding financial incentives available for the restoration of historic buildings, in particular for the buildings the Commission has to consider for demolition: the Merchants Hotel, the Union Cigar Store and the Army Surplus buildings. Attached is information on several programs offered locally and thru the State and Federal governments. ~ Downtown Rehabilitation Loan Program ($300,000 @ 3% for 20 years) ~ $10,000 facade grant ~ $10,000 design grant ~ Dubuque Main Street Loan Pool - up to $250,000 for ten years. Fixed at ~ point below prime for five years with a balloon adjustment at year five at ~ point below prime. Prime rate as of3/11/99 = 7.75%. ~ Local Bank low interest loan for buildings in historic districts - up to $200,000 at 7.75 % for 10 years or 8.0% for 20 years. ~ 20% Federal Tax Credits for Historic properties as a direct deduction off of the personal income tax form. Non-profit organizations may sell the tax credit to a partner, who may realize this credit. ~ Housing Tax Credits - Highly competitive credit used for affordable housing projects. The Iowa Inn project has been rejected twice in the last two years for this funding. ~ Urban Revitalization Tax Abatement - for residential projects and/or commercial properties where 75% of the building is for residential use ~ HRDP grant - Highly competitive State grant for up to $50,000 although grants are usually in the amount of $25,000 or less. ~ Historic Site Preservation Grant - Highly competitive State grant for up to $200,000. This was a new grant in FY '99 and funding for FY '00 is undecided at this point. ~ TEA-2I - This is the revised ISTEA funding program which is available both locally through DMATS and through the IDOT. This is federal highway funds of which 10% has been allocated for scenic byways, trails and historic districts. The project must be transportation related. Funding is available to private building owners and Welcome Centers have specifically been identified as eligible projects. Previously the State funds were used to remove overhead wires in the Old Main Historic District and DMA TS funds will be used to install lighting in the Cable Car Square District. We do not have information on the amounts available under these programs, however, there is no cap limitations on an applicant's request and the match requirement is 70/30. cc: James Burke, Community and Economic Development Director Laura Carstens, Planning Services Manager Tim O'Brien, Assistant City Attorney .::::::, i\....;,:::;:fO 1.J:40; 1 > 152424659 :A Dept of Economic Dev. -> CITY OF DUBUQUE; Page 2 FAX NO. 15152424859 P. 02 FEB-10-98 rUE 13:41 SYNOPSIS OF FEDERAL INVESTMENT TAX CREDITS AS ltBVISED BY ~ ('!'AX RUORK ACT OJ' 198') TWO FORMS OF INVESTMENT TAX CREDITS: o 20% !TC for National Register Historic Property o lOt ITC for Property build prior to 1936 Types of Property 20t I~ Residential income producing- C03nDlercial incoDle prOducing National Reqister Built prior individually listed to 1936 Contributing to National Register District Contributing to certified state or local district 1.0"" ITc; Commercial income produoing Qualifications of Property Substantial Rehabilitation RUles Expenditures greater Same as 20% than ~d1usted ba~~s* or $5000 in 24 ~onths or 60 month "phased construction" period * Adjusted Basis = Sales Price - Accrued Depreciation + Capitol. Improvements .....-'-""N-'..~fl.~C,'\'(-:.~,,_...__,_.. _, __. '--"__44'" F celved: 2/10/98 13:46; FEB-10-98 TUE 13:41 1,152424859 -> CITY OF DUBUQUE; Page 3 :A DeFt of Economic Dev. FAX NO. 15152424859 P. 03 Rehabilitation Standards 20% I'l'C secretary of the Interior's Standard tor Rehabilitation SHPO NPS Part One Part Two Certification of Completion ~O"ITC None Filinq None No FEiS f:"oft. ~ ITe ~ $ 500 $ 800 $l~OO . $2500 ~1....QQIt.,r.l'''' lT~ W 1 ExDenditural, $ 20K - $3.00K $lOOK - $500K $500K - $l.M: $1X Who Can Take Credit ~er S~e Leaseholder Resident - 27~5 Yrs. Comm. - 33..5 Yrs~ straiqht Line Same Resident - 27.5 Yrs. Comm. - 3l~5 Yr$. Deprioiation Restrictions -- - Tax credits may be Same used to offset up to $25,000 tax l1Qbility plus 75t of tax liability over $25/000 unused credits may be carried forward 1.5 yrs., bao~ 3 yrs. Recapture of credits Same if property sold within 5 years Passive Activity Rules Same General ~eductions and credi~s from project may not be used to shelter non-passive income :j..i'.r."'''te''..: ~"'~M'~It~i~':;I~:..r:;f.""'..."~~JII,"'''''''.'''''''' .''''''.<._~......~ '~:"". a--. _ Hecelved: 2/11/9811:10; 3129395651 -> CITY OF DUBUQUE; Page 2 02/11/98 ~mD 11:08 FAX 312 939 5651 N.T.H.P CHICAGO 14I 002 ..... _ ~:f - ~ 11196 INCENTIVES FOR HISTORIC PROPERTIES IN IOWA (Multiple program use encouraged) Historic Resource Development Program (HRDP) $O.~-1 Million/yr. Description: Matching grants for work on historic properties, museums and their collections, libraries and their collections. Properties can be owned by Certified Local Governments, State agencies (assuming no state money is used as match), businesses, non-profits, Native American tribes or individuals. Rehabilitation work on historic properties must meet The Secretary of Interior's Standards for Rehabilitation. approved by the SHPO (State Historic Preservation Officer). Contact HRDP Coordinator Lavon Wickett at 515-242-6194. Properties: Acquisition, development and/or preservation activities must be to historical properties listed on the National Register of Historic Places (NRHP) and a certificate from SHPO or NRHP must accompany the HRDP application. Archeological properties are not required to be listed and may be certified by SHPO as eligible for the National Register. Other eligible projects may be training, public education, surveys and/or nominations to the National Register. Temporary Property Tax Exemption for Substantial Rehabilitation Description: At the discretion of county boards of supervisors through their annual priority list, the substantial rehabilitation of an historic property as defined in Iowa Code which meets nationally accepted rehabilitation standards as certified as such by the State Historic Preservation Officer, will be exempted from any increase in valuation for four years and then returned to full valuation over the following four-year period. Rehabilitation work on historic properties must meet The Secretary of Interior's Standards for Rehabilitation. approved by the SHPO (State Historic Preservation Officer). Contact Preservation Architect Judy McClure at 515-281-8637. Properties: Properties must be listed on the National Register, be evaluated as National Register eligible. contribute to National Register or local historic districts, or be designated as a county or municipal historical landmark. Federal Rehabilitation tnvestment Tax Credits for Certified Historic Structures Description: Twenty percent of qualified rehabilitation costs are available as a credit ag'ainst federal income taxes owned. Rehabilitation work on historic prop~rties must meet The Secretary of Interior's Standards for Rehabilitation, applications and photos must be reviewed by the SHPO (State Historic Preservation Officer) and approved by the National Park Service. Contact Preservation Architect Judy McClure at 515-281-8637. Properties: Properties must be listed on the National Register or be evaluated as National Register eligible and listed within 30 months of project completion. Recelved: 2/11/"811:11; .3129395651 -> CITY OF DUBUQUE; t-'age.3 02/11/98 \fED 11:09 FAX 3J:! 93fl 51;51 N.T.H.P CHICAGO l4J 003 " , .fEDERAL INCOME TAx CREf)IT.t:=O~ HISTORIC PRE;SERVATtON ~ .,,; ...,>...'i.... .''-.' (':~--:.i' .,~~-~.'...'. '. M~'..., '. Purpose: ' ' ,To provide a federal in~ntjve (Rehabilitati9n ,lnv~J~nt TaX Credit) for ,lt1e~ensittVe,::,l"8habl/itatioh .of ' historic structures. in keeping with the characteristics' for' which they are'signifci.nt, and to reViti;lIiZe' ' the neighborhoods in which they are "located. ." . ,,". .....:.:.;. EllglbmtyRequlrements: .- . .. ." . ',,",'" -:' ,". . ..._......~.4..._ f Two categories of buildings, are eligible,'-if they can.be, ~epieciated (usedJQr'(~com~U9ing , purposes) and if ,the rehabilitation Is .substantiar,(~~:.bel~). " ",', ' ,"'..: --,' , _ . _ . . ',.:,'-:-: ~'I::.~,:,:.~~-,,,,:,,, t' . .' -'.. "' ~~<..,::~ ....::~:. ; .'~. ,". ,,:." " ....... ,";:<> 'For the historic rehabilitation tax credits, 'Wt1Eue"2Q%of qualified, reha'I)Ultatiori: expenditure's are aVail8bleas tax credits. ttle'structure iS~!9ibie'if it is on the' NatiOn~r Register of. HiStoriC "Places o~' is evaluated as meetingthe'qUalificatlonS :.set-for NatiQnakftE,glste~':Jlsting'bY,thE{!' . U.S.: Secretary of Interior "(The "propEtrty,muE;(,be',fistedWlthln :oOfrlor'tWOyearS, :ho~vef~) :;';, . Contact Beth .F oster, the National Re9iste~:Coor'dinator, ~t 51 &-~8~;413?: 'fo~ 'isting'st8tUs'~'pr' infonnation about how to nomi~tethe structu~ to the National ;~e~~st~r,;' ."" ' (2). For the 10% tax credit program, thestruCti:ul~,:musthave beer1'fir'st'u5ed or OOcupledpriOr~to 1936 and may t>e used only for non-resldential purposes~ such as CQmmercial or Industrial , purposes: ' , ',., ""!I " ',,' , ' (1 ). . ~ '. " '- .; For both. there should be .substantial rehabilitation'" within a 24--r:nonth period (reinvesting In rehabilitation an amount exceeding the "adjusted basis. or depreciated value of thebuildingr , To qualify for the 20% tax credit for historic buildings, the rehabirrtation must be approved as meeting The Secretarv of the Interior's Standards for Rehabilitation and Guidelines for Rehabilitatina ,Historic BuildinQs (Le. j . the work is consistent with the' historic Character of the building and, 'If applicable,' the surrounding historic district), -In some Instances. the substantial rehabilitation for 20% tax cred'1ls may extend over 60 months and several phases. Fonn of Funding (based on percent of quallfi~d ,rehabilitation expenditures): Investment tax credit reduces the federal income~e~' Owed by the owner, as (ollows: 20% for an aooroved substantial 'rehabilitation ,of a depredable building either on the_ National Register or aCQn~rfbutlng &triI9tUre in a dlstrict, ' , , , ' . '. , . . , . . " -" ! . '-';:~; '\ i -). .- or for an approved substantial' rehabilitation of a depreciable building that is eligible 'fOr:: ' the National Register and will be nomir\sted Within one or two years. 10% for "non-historic" and non-residentialolder building that was bunt prior to 1936 " ,,'.' or for non-residential buildings that are "non-<:ontributing" and located in historicdistrlcts; the owner must apply to the state to be certified as non-<:ontributing. Contact . 'Judy McClure, AlA, Preservation Architect \ State HIstorical Society of Iowa Community Programs Bureau 600 E. Locust Street Des Moines. IA 50319-0290 515-281-8637 TAX CREDIT BASICS . Housing subsidy program created within the federal tax code and administered by state HFAs · Versatile source of capital for development of affordable rental housing ~ new construction or acquisition I rehabilitation ~ family, elderly, special needs, SRO housing · Projects must serve tenants with incomes of 60% of local area median or less · Ten-year credit period and fifteen-year compliance period · Investors earn dollar-for-dollar credit against federal income tax liability · Investors also earn tax benefits from "taxable losses": depreciation, interest deductions, etc. · Investments normally facilitated through purchase of limited partner share in project ownership Word: smltax credit basics INCOME RESTRICTION BASICS . To qualify for the tax credit, projects must restrict unit rents as follows: at least 40% of the units in the project must have rents affordable to a household earning less than 60% of median (a "40/60 election") or at least 20% of the units in the project must have rents affordable to a household earning less than 50% of median (a "20/50 election") but ~ tax credit units in a project must have rents set within these restrictions. In other words, if a project is 100% tax credit eligible, every unit in the project must restrict rents to 60% or 50% of median (depending on whether a 40/60 election or 20/50 election was made) . If a tenant qualifies when they move in, they continue to qualify even if their income increases later. Exception: in mixed income projects, if a tenant's income increases to more than 140% of the maximum qualifying income, the next available unit must be rented to a tax credit eligible tenant (the "next available unit" rule). . Most tax credit projects are 100% tax credit eligible . The maximum rents under the tax credit program are qross rents: rent paid by tenant plus applicable tenant-paid utilities: "utility allowances" . How maximum rents are calculated: Begin with median family income for MSA or county (published by HUD) Multiply by 0.60 or 0.50, as appropriate for 60% of median or 50% of median Adjust for unit size by multiplying by the appropriate ratio: 0.70 for efficiencies/SRO 0.75 for 1-br 0.90 for 2-br 1.04 for 3-br 1.16 for 4-br Multiply by 0.30 for the maximum percentage of income for housing costs Divide by 12 for maximum monthly gross rent Subtract utility allowance for maximum monthly net rent (rent charged to tenant) REMEMBER: Maximum tax credit rents may be higber than the market will bear! FINANCIAL STRUCTURING WITH TAX CREDITS In order to cover project costs and keep rents below market, many tax credit projects need "gap" financing in addition to conventional debt and equity from the sale of tax credits. Gap financing can take many forms, sometimes with many different sources being utilized for a single project. Some common sources of gap financing include: federal Community Development Block Grant (CDBG) program federal HOME program state and local housing programs state or rocal housing trust fund Affordable Housing Program (AHP) of the Federal Home Loan Bank All of these sources of funds can be used with the tax credit program, if properly structured. These structuring requirements are for tax purposes. Some of the basic structuring rules are as follows: Gap funds should generally be structured as loans to the project limited partnership or as capital contributions from the general partner, not as grants directly to the the project limited partnership. Federal CDBG and HOME funds should be structured as loans directly from the government agency to the project partnership. To qualify as a loan for tax purposes, the loan must: carry an obligation to repay (i.e. not "forgiveable" in loan documents) have at least a nominal interest rate (generally no less than 1 %) unless principal payments are "must-pay." Federal HOME funds have special rules. loans can be payable "subject to available cash flow" or entirely accruing Other non-federal sources such as AHP funds could be granted to the project sponsor and then lent or contributed to the project. NOTE: Financial structuring can be quite complex, depending on the project. Consult with ESIC, your tax attorney, and your accountant about structuring your particular set of financing sources. ... MAR-11-1999 16:53 CP BJREAU 15152820502 P.01 THt HjJwrical Diuisiol1 nfrl,c Dcparmlntt QfCuINl1'rZ/ A/fAiTs STATE HISTORICAL SOCIETY OF IOWA ~ Arneri""n GOlhi.: HUUK Eldon Blood Run :--lHL [ .;;rchwuud CenrenniJl Building low1 Ci'f l"huht'W tdd Blaclamith Shop Marth.l1wwn Ahhie Gordner Cabin Arnolds Park low~ rliswicai I\uilding Dc.< Moines Mont:luk Governnr'.1 1 [orne Union Sunt!..., School Clm:lUnl tvU;.cum Cermo:l: PIUlT1 Gmve Guv~rn~'r'. Home Iowa Ciry Toolcsooro Tndian Mounds Toolc.sboro We-Item Hi.,lOr:, TeiLs Ceneer Cmncii Bluffi Where past meets futur( March 11. 1999 Dubuque Historic Preservation Commission Clo Cindy Steinhauser City of Dubuque FAX: (319) 589-4149 RE: Review of Economic Hardship Case for Rehabilitation of 304-310, 320 and 330-336 Main Street (the old Merchant Hotel block and old Dolan's Barber ShoplUnion Cigar Buildings) in Dubuque, Iowa Dear Commissioners: I am writing to you at the request of one of your members for SHPO staff opinion about the application you are to consider tonight. As I understand it, the City itself is making application to you in the hopes of being able to demolish about 100 lineal feet of historic storefronts in the Old Main Historic District. They will next propose building an infill building to house the Chamber of Commerce and provide a parking structure. I urge you and the City to take the long view and remember that many times the solution needed for tOOay's purpose is relatively short-term. A good strategy is to accommodate necessary changes without significant loss of original materials or buildings. Doctors call it "doing no harm" and historic preservation asks that no unnecessary harm comes to historic properties. When confronted with an underutilized building in need of repair. there are four basic choiGes: (1) do nothing (2) stabilize it (mothball it), (3) rehabilitate it, or (4) demolish it. Only demolition elimina+.es the other options for future use of the asset Two issues immediately arise that you need to assess.: (1) Is the application for economic hardship complete enough for your review - or is more infonnation needed? If not. the HPC should ask for the information to be complete and review it at another meeting. (2) Has the applicant sought alternatives, such as finding another developer that would be willing to rehabilitate the historic buildings as they stand? Usually there is a period of time following the application to a HPC when the buitdings are offered publicly for sale and/or development If not, that process should be started. At the very least. a moratorium on demolition should be declared until options can be sorted out. Please take a moment to consider the role of HPC design review. You are there to honor the process and procedures in a complete. consistent. fair and thoughtful way, to bring your experience and expertise to bear on the process and to take the long view of history. Your decisions need to be grounded in an understending of the Secretary of the Interiors (SOls) Standards for Archeology and Historic Preservation. Thus you need to understand, among other things. the National Register criteria for assessing significance and the Rehabilitation Standards and Guidelines for Rehabilitating Historic Buildings. Using your experience and knowledge, you also help owners understand alternatives available to them for feasible rehabilitation (using incentives available to them and long- term, cost-effective means of repair). If your decisions become based on the political realities of the moment. they will probably not adhere to nationally-accepted standards. nor be fair and thorough - nor will they provide information about what is appropriate from a historic preservation IOWA HISTORICAL BUILDING 600 East Locust. Des Moines, Iowa 50319-0290 Phone: (515) 281-6412. Fu: (515) 242-6498 or (515) 282-0502 www.lliowa.eduf-shsilindex.hrm ~ MAR-11-19S9 16:53 CP RJREAU 15152820502 P.02 standpoint The political process needs your fair assessment of the situation and then, what happens MUp the line- in the political arena is beside the point to your actions, in a way. Working herd in the political wand to make historic preservation work In Dubuque is great, but it would not be appropriate to let the actions in the politicsl arena shade your work in reViewing and deciding about historic preservation projects and issues. A third issue would arise for your consideration, if ultimately the buildings were tom down and infill was proposed.. That is the issue of what would constitute compatible new construction. Given the general character and historic height of the buildings in the district, especially the Old German Bank to the immediate north, it seems to me that compatibility according to SOl Standards would require IOOll similar to the existing and nearby bUildings. TIlis would mean similar f1oor-to-floor heights in three similar, but not identical, red brick buildings of three-to-four story construction with similarly proportioned and spaced painted wood windows and appropriately designed storefronts with recessed entrances every 20-25 feel. {Design guidelines for infill start with the understanding of what are the character- defining features of the HD - the above represents a summary of whet the character is of the Old Main HD. tt helps you to do a better Job - again grounded in nationally accepted standards and procedures - when you go further and understand hO'N to develop good guidelines for each historic district. The commission exists to protect the integrity of historic properties in the community, the individual contributing properties within the districts and the integrity of the districts themselves. Clearly there is a careful weighing process for a commissioner in doing design reviews with recognizing when properties have lost their essential i1tegrity or in recognizing when losses are unavoidable for the overall public good. But there are economic benefits to individual owners, to groups of owners, to the community itself and to the state when the integrity of historic properties and districts are maintained. There are national, state and local incentives put in place to favor historic preservation activities because they are desirable from the standpoint of public policy. With regard to the economics of the situation, we understand that an evaluation of the existing structural conditioos has been made and an estimate of the cost to rehabilitate was between $85-100/SF. That Is about wtlat new construction of good quality costs these days. As a matter of policy, one would hope that reuse of our existing assets (historic buildings) would take precedence over new construction at a similar cost. This is because of economics (more jobs are ~ted per dollar of rehabilitation than per dollar of new construction) and because Dubuque has declared itself to be pro-preservation in its Certified Local Government ordinance. Indeed, for that partnership, it has received a number of benefits in the form of grants for survey. evaluation, nomination to the National Register, public education. enhanced status 8S our partner" performing Its own review of the effect of lots of federal funding on historic properties. The value of the time saved and fundS made aveilable is considen:tble. Are we to wonder about the current commitment to that partnership on the part of the City? Further, the cost of the rehabilitation would provide considerable Rehabilitation Investment Tax Credits, if the project was correctly structured. If the rehabilitation met the SOl Standards. 20% of the $85-100 per SF would be a credit to reduce the federal income taxes of building owners who pay federal income tax (such as a Chapter C corporation or others with adjusted gross incomes of 150.000 or less). This is a considerable incentive in the federal tax code. Upper floors might be used for medium-to-high-end living units with urban ~ MAR-11-1999 16:54 CP RJREAU - 15152820502 P.03 and rivet views. Some parking might be incorporated with the project. if it could be done in a sensitive manner without inappropriate demolition. If the City has an interest in matching grants for historic preservation worK. SHSI has two grant programs available to it. (A for profit developer would be e!iglble to apply for one of them, but not both.) A number of interesting possibilities exist and could come to fnJition with a developer who can see the value inherent in the buildings. It is here that the City could assist the process of getting the buildings into the hands of a developer committed to doing a good Job of rehabilitation and meeting the functional needs for the Chamber of Commerce, the historic district and the community at large. (J assume that the City is able to take the option to get control without having to commit to the demolition.) Gap financing or expedited city services during the development process , infrastructure improvements would be other appropriate ways for the City to assist such project. To sum up: You and the City should consider all avenues other than demolition, including finding another developer for the project Help the City find a developer sensitive to historic preservatiOn. if they need it. Do not let possible or probable political outcomes sway your considerations - the political part of the process should be separate from your role as reviewers. Consider the character-defining features of the Old Main Historic District in any discussions and decisions on what is competlble rehabilitation. additions or new construction. Encourage the use of incentives available for rehabilitation and cost-effective repair strategies rather than expensive gut-rehabilitation and new construction. (Landfill costs shOUld count.) Remind the City of its commitment to historic preservation and the benefits it has received (in time saved and funds available) and will receive by sensitively using (and not abusing) its historic building assets. n eel , AJA Preservation Architect SHSI Community Programs Bureau TOTAL P.03 MAR-11-1999 16:48 CP BJREAU 15152820502 P.01 TJ,~ HisTI1rictJ{ Divirion ~r fhe Dtpllrfmnlt Df CulJ,mJ AffiirJ STATE HISTORICAL SOCIETY OF IOWA l\ l:P \9 I .... "- co ,... III 15 z ~ L Z CA ~ low~ His(odealll uilding Dcs Muin:s Monr~llk Governur's Horn: Union SUlld~y School Clermont Mu.<eum CICClnullr Plum Grove Guvt"rnor's Home low~ City Toolcsburo Indim Mound, T nolcsboru \'li'=~rn Humt;.,: TrAil, C:ncer Council Blutt'l Where past muts future March 11, 1999 Dubuque Historic Preservation Commission City Hall 50 W 13th Street Dubuque. Iowa 52001 BE: Application by the City of Dubuque to r4An'loJi'9h three buildings in the National Register listed and City designated Lower Main Street Historio District. Dear ~T'r'ln'l.;""sion Members: I am. deeply concerned by the City's aCtion particularly si:D.ce it comes eight months after the City approved demolition of the American. Trust Tower Bra.n.ch., located on l..oc:n:u:1t Street. My concerns are two-fold. First, if the City proceeds with the dA't"tVll-itiou, lp what impact will this have on the National Register listing of the District? A grim, possible scenario is that substantial alteration of the District'. historic fabric could prompt de-listing. This would. mean that none of the property owner's within the District would qualify for the REAP Historic ResO\U"Ce Development Program Gre.nts or the Federal Income Tax Credit for historio rehabilitation projects. The Lower Main Distriot encompasses the City's Main Street district. Demolition by the City certainly sends a negative """'E"'3''6'age to those xnerchants and property owners who have supported Dubuque .MainStreet and invested in the District. My second conoern. is over the City's OOIltinued participation in the Certified Local Govermnent program. Under. the terms of the Certified Local Government Agreement, which the City and State of Iowa signed in 1985, the City agreed to en~-u.rage Section 25-9(7) the nomination of properties to the National Register of Historic Places and to locally designate and protect thO$e properties as well. City initiated nATnn1;ti.on of historic properties suggests that the City is no longer interested in participating in the OLG program. To date. the City of Dubuque b.es been a nationally reoogDized leader in historic preservation. As one of the first urban Mainstreet programs and ODe of the early participants in the Certified Loca.l Govermnent program. the City has led Iowa in the local designation ot historic properties. Since 1983, the City has received 5 CLG gnmt awards, amounting to over $12,000.00 and has a grant application pending in the ourrent round. Tbe City has used these monies well. all are cost sharing grants so the actual total award bel:ies the effort expended and the impact of the projects. I encourage the C<JTY1TniAAjon to consider carefully this applicatiou and to exersize the options offered it in the City's Historio P:r~ ~a.tion Qrdi:nau.ce. Section 25-9(7)(bX1.14) gives the commission to opportunity to ask for a. wide :range of information in support of the economio hard$hip case. I enOOl,n-age the t"'QT':):roil;;sion to consider ell of the items in n-lAk+n g its decieion. Be sure tha.t you IOWA HISTORICAL BUILDING 600 East Locust, Des Moines, Iowa 50319-0290 Phone: (515) 281-6412. Fax: (515) 142J6498 or (515) 281-0502 www.uiow-.l.edu/-5h5i1inclex.htm MAR-11-19SS 16:49 CP BUREAU 15152820502 P.02 ha.ve complete in1ormation. I also enoourage the coTn'n'\;l:lsion to exercise the option granted under Section 25-9(7)(o)(1)(b) that postpones issuance of a oert.itica:te for 180 days and. a.U.ows the Com'n'\iClCd<:>l1 to investigate alternative strategies to demolition. Be assured tha.t I aID prepared to assist the Cn~i.,sion in this investigation... If you have any questions about this review or need. clarification 01 any points, plee.ee do not hesitate to contact me at the address listed below. by phone at 515/281-6826 or by email atk:m.o~t@m.ax.state.ia.us Sincerely . ~~C2Y) C~ Kerry C. McGrath Local Govermnents Coordinator TOTAL P.02