Adams Co. completion DICW
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MEMORANDUM
February 13, 2006
TO:
The Honorable Mayor and City Council Members
FROM:
Michael C. Van Milligen, City Manager
SUBJECT: Certificate of Completion for The Adams Company Project
Economic Development Director David Heiar recommends City Council approval of the
issuance of a Certificate of Completion for the Adams Company project acknowledging
completion of their obligations to construct Minimum Improvements as stipulated in the
Development Agreement.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
AA{;*r!W~
Michael C. Van Milligen
MCVM/jh
Attachment
cc: Barry Lindahl, Corporation Counsel
Cindy Steinhauser, Assistant City Manager
David Heiar, Economic Development Director
CITY OF DUBUQUE, IOWA
MEMORANDUM
February 6, 2006
FROM:
Michael Van Milligen, City Manager
David Heiar, Economic Development DirectorCb~.
Certificate of Completion for The Adams Company Project
TO:
SUBJECT:
Introduction
This memorandum provides for City Council review and approval a Certificate of
Completion for The Adams Company project in the Dubuque Industrial Center West.
The Development Agreement of May 19, 2003 by and between the City and The
Adams Company (Developer) stipulated that a Certificate of Completion would be
issued to the Developer upon the completion of the Minimum Improvements (building
construction and interior improvements).
Discussion
The company has requested the issuance of the Certificate of Completion. The
issuance of a Certificate waives all rights of revestment of title 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 the relocation of this company, staff finds that the project is 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.
attachment
F:IUSERSIPMyhreIWPDOCSILOANDOCladams\certifofcompl.mem.doc
Prepared by: Pamela Myhre City Hall, 50 West 13'h Street Dubuque, IA 52001
Return to: same
563-589-4393
CERTIFICATE OF COMPLETION
WHEREAS, the City of Dubuque, Iowa, a municipal corporation (the "Grantor"),
by a Special Warranty Deed recorded on November 4, 2003 as Instrument Number
29543-03 in the office of the County Recorder of Dubuque County, State of Iowa, has
conveyed to The Adams Company (the "Grantee"), in accordance with a Development
Agreement dated as of May 19, 2003, by and between the Grantor and the Grantee (the
"Agreement"), certain real property located within the Dubuque Industrial Center Urban
Renewal District of the Grantor and as more particularly described as follows:
Lots 4 and 5 of Dubuque Industrial Center West 2nd Addition, City of Dubuque,
Dubuque County, Iowa (the "Development Property"); and
WHEREAS, said Deed incorporated and contained certain covenants and
restrictions with respect to the development of the Development Property, and obligated
the Grantee to construct certain Minimum Improvements (as defined therein) 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.
NOW, THEREFORE, pursuant to Section 2.4 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 and that the provisions for forfeiture of title and right to re-entry for breach
of the condition subsequent by the Grantor contained therein are hereby released
absolutely and forever terminated insofar as they apply to the land described herein.
The County 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
satisfactory termination 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)
CITY OF DUBUQUE, IOWA
By:
Roy D. Buol, Mayor
ATTEST:
By:
Jeanne F. Schneider, City Clerk
STATE OF IOWA )
) SS
COUNTY OF DUBUQUE )
On this day of , 2006, before me a Notary
Public in and for said County, personally appeared Roy D. Buol and Jeanne F.
Schneider 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.
Notary Public in and for
Dubuque County, Iowa
F:IUSERSIPMyhreIWPDOCSILOANDOCladamslcertofcomp.rtf