McGraw-Hill Companies, Inc._Certificate of CompletionTHE CITY OF
Dui
Masterpiece on the Mississippi
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: Certificate of Completion for McGraw Hill Companies, Inc.
DATE: November 26, 2012
Dubuque
kital
All- America City
II 111!
2012
Economic Development Director Dave Heiar recommends City Council approval of a
Certificate of Completion for McGraw Hill Companies, Inc. acknowledging that their
obligations to construct Minimum Improvements (building construction, interior
improvements, and site improvements in the Port of Dubuque) have been met.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
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Michael C. Van Milligen
MCVM:jh
Attachment
cc: Barry Lindahl, City Attorney
Cindy Steinhauser, Assistant City Manager
Teri Goodmann, Assistant City Manager
David Heiar, Economic Development Director
CITY OF DUBUQUE, IOWA
MEMORANDUM
November 20, 2012
TO: Michael Van Milligen, City Manager
FROM: David Heiar, Economic Development Director
SUBJECT: Certificate of Completion for McGraw Hill Companies, Inc.
INTRODUCTION
This memorandum provides for City Council review and approval of a Certificate of
Completion for McGraw Hill Companies, Inc. in Dubuque. The Development Agreement
of June 19, 2006 by and between the City and McGraw Hill (Developer) stipulated that
a Certificate of Completion would be issued to the Developer upon the completion of
the Minimum Improvements (building construction, interior improvements, and site
improvements).
DISCUSSION
The developer has requested the issuance of the Certificate of Completion. The
issuance of a Certificate waives all rights that the City retains through the Development
Agreement to assure that the project is completed in accordance with the provisions of
the Agreement and that certain Events of Default have not occurred. On review of the
Developer's obligations and the City's financial participation in construction of this
property by McGraw Hill, staff finds that the minimum improvements are complete.
RECOMMENDATION
I recommend issuance of a Certificate of Completion to the Developer acknowledging
completion of their obligations to construct Minimum Improvements as stipulated in the
Development Agreement.
ACTION STEP
The action step for the City Council is to approve the attached Certificate of
Completion, and to authorize the Mayor and City Clerk to sign the Certificate on behalf
of the City.
F: \USERS \Econ Dev \McGraw Hill 2\20121120 Certificate of Completion MEMO - McGraw Hill.doc
Prepared By: David J. Heiar 50 West 13th Street Dubuque, IA 52001 563 - 589 -4393
Return to: David J. Heiar 50 West 13th Street Dubuque, IA 52001 563 - 589 -4393
CERTIFICATE OF COMPLETION
WHEREAS, the City of Dubuque, Iowa, a municipal corporation (the "Grantor "),
by a Special Warranty Deed (the "Deed ") recorded on June 28, 2006 as Instrument
Number 2006 - 00010387 in the office of the County Recorder of Dubuque County, State
of Iowa, has conveyed to The McGraw -Hill Companies, Inc. (the "Grantee "), in
accordance with a Development Agreement dated as of June 19, 2006, and as
amended by the First amendment to Development Agreement, by and among the
Grantor, and the Grantee (collectively, the "Agreement "), certain real property located
within the Greater Downtown Urban Renewal District of the Grantor and as more
particularly described as follows:
Part of Lot 1 of Riverwalk Sixth Addition in the City of Dubuque, Iowa, according
to the recorded Plat thereof, subject to easements and restrictions of record
(the "Development Property "); and
WHEREAS, said Deed incorporated and contained certain covenants and
conditions with respect to the development of the Development Property, and obligated
the Grantee to construct certain Minimum Improvements in accordance with the
Agreement; and
WHEREAS, the Grantee has to the present date performed said covenants and
conditions insofar as they relate to the construction of the Minimum Improvements in a
manner deemed sufficient by the Grantor to permit the execution and recording of this
certification; and
NOW, THEREFORE, pursuant to Section 10.4 of the Agreement, this is to certify
that all covenants and conditions of the Deed and the Agreement with respect to the
obligations of the Grantee, and its successors and assigns, to construct the Minimum
Improvements on the Development Property have been completed and performed by
the Grantee to the satisfaction of the Grantor and such covenants and conditions are
hereby terminated.
The Recorder of Dubuque County is hereby authorized to accept for recording and to
record the filing of this instrument, to be a conclusive determination of the satisfaction of
the covenants and conditions of said Deed and the Agreement which would result in a
forfeiture by-the Grantee and right of the Grantor to re -enter and take possession of the
Development Property as set forth in. said Deed and the Agreement, and that said Deed
and the Agreement shall otherwise remain in full force and effect.
(SEAL)
ATTEST:
By:
Key
Firnstahl, City
STATE OF IOWA )
SS
COUNTY OF DUBUQUE )
CITY OF DUBUQUE, IOWA
Bv:
Roy D. Buol, Mayor
On this ar-8 day of . ecet.,.,,6c,,,- 2012, before me a Notary Public in and for said
County, personally appeared Roy D. Buol and Kevin S. Firnstahl to me personally
known, who being duly sworn, did say that they are the Mayor and City Clerk,
respectively of the City of Dubuque, Iowa, a municipal corporation, created and existing
under the laws of the laws of the State of Iowa, and that the seal affixed to the foregoing
instrument was signed and sealed on behalf of said municipal corporation by authority
and resolution of its City Council and said Mayor and City Clerk acknowledged said
instrument to be the free act and deed of said municipal corporation by it voluntarily
executed.
TRISH L. GLEASON
Commission Number 719986 � ��
�Q �
My Commission Expires
Notary Public in and for
Dubuque County, Iowa