Weaver Castle LLC Development AgreementTHE CITY OF
Dui
Masterpiece on the Mississippi
Dubuque
All- America City
II 111!
2012
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: Development Agreement with Weaver Castle, LLC to Redevelop Property
at 407 -409 Loras Boulevard
DATE: January 28, 2013
Economic Development Director Dave Heiar recommends City Council approval of a
Development Agreement with Weaver Castle, LLC for property located at 407 -409
Loras Boulevard.
The Development Agreement requires the redevelopment of the property located at
407 -409 Loras Blvd into four (4) apartments. The key elements of the Development
Agreement include:
1) The project will receive $40,000 grant through the Downtown Housing Incentive
Program. ($10,000 for each new residential unit)
2) Facade, Design and Planning grants totaling up to $35,000 will be utilized with
this project as follows
a. Facade Grant - $10,000
b. Design Grant - $10,000
c. Financial Consultant Grant - $15,000
Each of these grants requires a dollar per dollar match
3) Weaver Castle, LLC must redevelop 407 -409 Loras Blvd at a cost of
approximately $300,000 by no later than December 31, 2013.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
brit44
Michael C. Van Milligen
MCVM:jh
Attachment
cc: Barry Lindahl, City Attorney
Cindy Steinhauser, Assistant City Manager
Teri Goodmann, Assistant City Manager
David J. Heiar, Economic Development Director
2
Masterpiece on the Mississippi
Dubuque
katil
All- America City
1
2007
TO: Michael Van Milligen, City Manager
FROM: David J. Heiar, Economic Development Director
SUBJECT: Development Agreement with Weaver Castle, LLC to redevelop
property at 407 -409 Loras Blvd
DATE: January 28, 2013
INTRODUCTION
This memorandum presents for City Council approve a Development Agreement for the
property located at 407 -409 Loras Blvd with Weaver Castle, LLC.
BACKGROUND
The Bluff /Locust area has been identified as a pocket neighborhood in need of
reinvestment. The City Council expanded the Downtown Urban Renewal District to
include this neighborhood in hopes of encouraging reinvestment in this area. The FY
2013 budget also included funds to expand traditional downtown incentives to this
neighborhood.
The duplex at 407 -409 Loras is on the edge of this targeted neighborhood and was
acquired by Gary and Chris Stelpflug in early 2012. This building, at the corner of Loras
and Bluff, has set empty for several years. The Stelpflug's, who live in Grant County
Wisconsin near Lancaster, have previously completed a couple of rehabilitation projects
in other communities, but this is their first project in Dubuque (Chris grew up in
Dubuque, and one of their son's is currently a student at Loras).
The Stelpflug's originally planned to do a nice renovation of the duplex. However, after
meeting with City Staff, they did additional research and have decided to do a historic
renovation with the help of Federal and State Historic tax credits. They have also
contracted with Gary Carner, a local contractor who has overseen the rehabilitation of
the Franklin (Central Alternative) School project, to take the lead on this restoration
project.
The Stelpflug's created a limited liability corporation to own the project, called Weaver
Castle, LLC. City staff has worked with Weaver Castle, LLC to formulate a funding
package to redevelop the property located at 407 -409 Loras Blvd. Weaver Castle, LLC
plans to invest $300,000 in redeveloping the vacant building into 4 apartments within
the building.
DISCUSSION
The proposed Development Agreement provides for several incentives to encourage
redevelopment of the property.
The Development Agreement requires the redevelopment of the property located at
407 -409 Loras Blvd into four (4) apartments. The key elements of the Development
Agreement include the following:
1) The project will receive $40,000 grant through the Downtown Housing Incentive
Program. ($10,000 for each new residential unit)
2) Facade, Design and Planning grants totaling up to $35,000 will be utilized with
this project as follows
a. Facade Grant - $10,000
b. Design Grant - $10,000
c. Financial Consultant Grant - $15,000
Each of these grants requires a dollar per dollar match
3) Weaver Castle, LLC must redevelop 407 -409 Loras Blvd at a cost of
approximately $300,000 by no later than December 31, 2013.
Additional terms and conditions of the disposition of the property are included within the
attached Development Agreement. Since the property is located in the West 11th Street
Urban Revitalization District and would qualify for property tax abatements for 10 years,
no TIF rebate is being proposed for this project.
RECOMMENDATION /ACTION STEP
I recommend the City Council approve the attached resolution authorizing the Mayor to
sign the attached Development Agreement with Weaver Castle LLC.
F: \USERS \Econ Dev \Stelpflug Properies \407 -409 Loras \20130123 Weaver Castle - Stelpflug Memo approve DA.doc
Prepared by /Return to: David Heiar. 50 W. 13th Street, Dubuque IA 52001, 563 589 -4393
RESOLUTION NO. 41 -13
RESOLUTION APPROVING ISSUANCE OF URBAN RENEWAL TAX INCREMENT
REVENUE OBLIGATIONS AND THE EXECUTION OF A DEVELOPMENT AGREEMENT
RELATING THERETO WITH WEAVER CASTLE, LLC.
Whereas, the City Council, by Resolution No. 22 -13, dated January 22, 2013 declared
its intent to enter into a Development Agreement with Weaver Castle, LLC; and
Whereas, pursuant to published notice, a public hearing was held on the issuance of
Urban Renewal Tax Increment Obligations on February 4, 2013 at 6:30 p.m. in the Historic
Federal Building, 350 W. 6th Street, Dubuque, Iowa; and
Whereas, it is the determination of the City council to approve the Urban Renewal Tax
Increment Revenue obligations, as provided by Chapter 403 of the Code of Iowa, and to enter
into the Development Agreement relating thereto for the purpose of carrying out an Urban
Renewal Plan as hereinafter described is in the public interest of the City of Dubuque.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
DUBUQUE, IOWA:
Section 1. That the attached Development Agreement by and between the City of
Dubuque and Weaver Castle, LLC. is hereby approved.
Section 2. That the Mayor is hereby authorized and directed to execute the
Development Agreement on behalf of the City and City Clerk is authorized and directed to
attest to his signature.
Section 3. That the City Manager is authorized to take such actions as are necessary
to comply with the terms of the Development Agreement as herein approved.
Passed, approved and adopted this 4nd day of February, 2013.
Attest:
�I._15vor /)
Kevir Firnstahl, Ci
y
Roy Buol, Mayor
F: \USERS \Econ Dev \Stelpflug Properies \407 -409 Loras\20130108 Weaver Castle Resolution approve DA.doc
DEVELOPMENT AGREEMENT
BY AND BETWEEN
THE CITY OF DUBUQUE, IOWA
AND
WEAVER CASTLE LLC
THIS DEVELOPMENT AGREEMENT (Agreement) dated for reference purposes the
4th day of February , 2013 is made and entered into by and between the City of
Dubuque, Iowa (City), and Weaver Castle LLC (Developer).
WHEREAS, Developer is the owner of the real estate locally known as 407 -409
Loras Blvd., Dubuque, Iowa and legally described as follows(the Property):
Lot 1 of Lot 2 of Lot 2,
Lot 1 of Lot 2, and
Lot 2 of Lot 2 of Lot 2,
all of Subdivision of Out Lot 667 in the City of Dubuque, Iowa,
according to the recorded Plats thereof.
WHEREAS, the Property is located in the Greater Downtown Urban Renewal District
(the District) which has been so designated by City Council Resolution 271 -12 as a slum
and blighted area (the Project Area) defined by Iowa Code Chapter 403 (the Urban
Renewal Law); and
WHEREAS, Developer has undertaken the redevelopment of a three -story building
located on the Property and will be operating the same during the term of this Agreement;
and
WHEREAS, Developer will make an additional capital investment in building
improvements, equipment, furniture and fixtures in the Property (the Project); and
WHEREAS, the Property is historically significant and it is in the City's best interest
to preserve the Property; and
WHEREAS, pursuant to Iowa Code Section 403.6(1), and in conformance with the
Urban Renewal Plan for the Project Area adopted on May 18, 1967 and last amended on
October 1, 2012, City has the authority to enter into contracts and agreements to
implement the Urban Renewal Plan, as amended; and
WHEREAS, the Dubuque City Council believes it is in the best interests of the City
to encourage Developer in the development of the Property by providing certain incentives
as set forth herein.
NOW, THEREFORE, the parties to this Development Agreement, in consideration
of the promises, covenants and agreements made by each other, do hereby agree as
follows:
SECTION 1. REPRESENTATIONS AND WARRANTIES
1.1 Representations and Warranties of City. In order to induce Developer to enter into
this Agreement, City hereby represents and warrants to Developer that to the best of City's
knowledge:
(1) City has duly obtained all necessary approvals and consents for its
execution, delivery and performance of this Agreement and that it has full power
and authority to execute, deliver and perform its obligations under this Agreement.
City's attorney shall issue a legal opinion to Developer at the time of closing
confirming the representations contained herein, in the form attached hereto as
Exhibit A.
(2) City shall exercise its best efforts to cooperate with Developer in the
development process.
(3) City shall exercise its best efforts to resolve any disputes arising during the
development process in a reasonable and prompt fashion.
(4) The execution and delivery of this Agreement, the consummation of the
transactions contemplated hereby, and the fulfillment of or compliance with the
terms and conditions of this Agreement are not prevented by, limited by, in conflict
with, or result in a violation or breach of, the terms, conditions or provisions of the
charter of City, any evidence of indebtedness, agreement or instrument of whatever
nature to which City is now a party or by which it or its property is bound, or
constitute a default under any of the foregoing.
(5) There are no actions, suits or proceedings pending or threatened against or
affecting City in any court or before any arbitrator or before or by any governmental
body in which there is a reasonable possibility of an adverse decision which could
materially adversely affect the financial position or operations of City or which
affects the validity of the Agreement or City's ability to perform its obligations under
this Agreement.
(6) No ordinance or hearing is now before any local governmental body that
either contemplates or authorizes any public improvements or special tax levies, the
cost of which may be assessed against the Property. To the best of City's
knowledge, there are no plans or efforts by any government agency to widen,
modify, or re -align any street or highway providing access to the Property and there
are no pending or intended public improvements or special assessments affecting
the Property which will result in any charge or lien be levied or assessed against the
Property.
(7) The representations and warranties contained in this article shall be correct
in all respects on and as of the Closing Date with the same force and effect as if
such representations and warranties had been made on and as of the Closing Date.
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(8) As of the date of this Agreement there has been prepared and approved by
City an Urban Renewal Plan for the Project Area consisting of the Urban Renewal
Plan for the Greater Downtown Urban Renewal Plan, most recently approved by
City Council of City on October 1, 2012, and as subsequently amended through and
including the date hereof, attached as Exhibit E (the Urban Renewal Plan). A copy
of the Urban Renewal Plan, as constituted on the date of this Agreement and in the
form attached hereto, has been recorded among the land records in the office of the
Recorder of Dubuque County, Iowa.
1.2 Representations and Warranties of Developer. The Developer makes the following
representations and warranties:
(1) Developer is a limited liability company duly organized and validly existing
under the laws of the State of Iowa, and has all requisite power and authority to own
and operate its properties, to carry on its business as now conducted and as
presently proposed to be conducted, and to enter into and perform its obligations
under this Agreement.
(2) This Agreement has been duly authorized, executed and delivered by
Developer and, assuming due authorization, execution and delivery by City, is in full
force and effect and is a valid and legally binding instrument of Developer
enforceable in accordance with its terms, except as the same may be limited by
bankruptcy, insolvency, reorganization or other laws relating to or affecting creditors'
rights generally. Developer's counsel shall issue a legal opinion to City, at the time
of closing, confirming the representations contained herein, in the form attached
hereto as Exhibit B.
(3) The execution and delivery of this Agreement, the consummation of the
transactions contemplated hereby, and the fulfillment of or compliance with the
terms and conditions of this Agreement are not prevented by, limited by, in conflict
with, or result in a violation or breach of, the terms, conditions or provisions of the
articles of incorporation or the bylaws of Developer or any contractual restriction,
evidence of indebtedness, agreement or instrument of whatever nature to which
Developer is now a party or by which it or its property is bound, or constitute a
default under any of the foregoing.
(4) There are no actions, suits or proceedings pending or threatened against or
affecting Developer in any court or before any arbitrator or before or by any
governmental body in which there is a reasonable possibility of an adverse decision
which could materially adversely affect the business, financial position or result of
operations of Developer or which affects the validity of the Agreement or
Developer's ability to perform its obligations under this Agreement.
(5) Developer will perform its obligations under this Agreement in accordance
with the material terms of this Agreement, the Urban Renewal Plan and all local,
state and federal laws and regulations.
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(6) Developer will use its best efforts to obtain, or cause to be obtained, in a
timely manner, all material requirements of all applicable local, state, and federal
laws and regulations which must be obtained or met.
(7) Developer has firm commitments for permanent financing for the Project in
an amount sufficient, together with equity commitments, to successfully complete
the requirements of this Agreement and shall provide evidence thereof to City prior
to the Closing Date.
1.3 Closing. The closing shall take place on the Closing Date which shall be the 25th
day of February, 2013, or such other date as the parties shall agree in writing but in no
event shall the Closing Date be later than the 13th day of April, 2013. Consummation of the
closing shall be deemed an agreement of the parties to this Agreement that the conditions
of closing shall have been satisfied or waived.
1.4 Conditions to Closing. The closing of the transaction contemplated by this
Agreement and all the obligations of Developer under this Agreement are subject to
fulfillment, on or before the Closing Date, of the following conditions:
(1) The representations and warranties made by City in Section 1.1 shall be
correct as of the Closing Date with the same force and effect as if such
representations were made at such time. At the closing, City shall deliver a
certificate to that effect in the form of Exhibit C.
(2) Developer shall have the right to terminate this Agreement at any time prior
to the consummation of the closing on the Closing Date if Developer determines in
its sole discretion that conditions necessary for the successful completion of the
Project contemplated herein have not been satisfied in Developer's sole discretion.
Upon the giving of notice of termination by Developer to City, this Agreement shall
be deemed null and void.
(3) Developer and City shall be in material compliance with all the terms and
provisions of this Agreement.
(4) Developer shall have furnished City with evidence, in a form satisfactory to
City (such as a letter of commitment from a bank or other lending institution), that
Developer has firm financial commitments in an amount sufficient, together with
equity commitments, to complete the Minimum Improvements (as defined herein) in
conformance with the Construction Plans (as defined herein), or City shall have
received such other evidence of Developer's financial ability City its
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reasonable judgment City requires.
(5) Developer's counsel shall issue a legal opinion to City confirming the
representations contained herein in the form attached hereto as Exhibit B.
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1.5 City's Obligations at Closing. At or prior to the Closing Date, City shall deliver to
Developer such other documents as may be required by this Agreement, all in a form
satisfactory to Developer.
SECTION 2. DEVELOPMENT ACTIVITIES
2.1 Required Minimum Improvements. Developer will make a capital investment of not
less than Three Hundred Thousand Dollars ($300,000.00) to improve the Property (the
Minimum Improvements). The Minimum Improvements include creating four (4)
apartments for market -rate rental using Historic Tax Credits.
2.2 [This section intentionally left blank]
2.3 Plans for Construction of Minimum Improvements. Plans and specifications with
respect to the development of the Property and the construction of the Minimum
Improvements thereon (the Construction Plans) shall be in conformity with Urban Renewal
Plan, this Agreement, and all applicable state and local laws and regulations, including but
not limited to any covenants, conditions, restrictions, reservations, easements, liens and
charges, recorded in the records of Dubuque County, Iowa. Developer shall submit to City,
for approval by City, plans, drawings, specifications, and related documents with respect to
the improvements to be constructed by Developer on the Property. All work with respect to
the Minimum Improvements shall be in substantial conformity with the Construction Plans
approved by City.
2.4 Timing of Improvements. Developer hereby agrees that construction of the
Minimum Improvements on the Property shall be commenced within thirty (30) days after
the Closing Date, and shall be substantially completed by December 31, 2013. The time
for the performance of these obligations shall be suspended due to unavoidable delays
meaning delays, outside the control of the party claiming its occurrence in good faith, which
are the direct result of strikes, other labor troubles, unusual shortages of materials or labor,
unusually severe or prolonged bad weather, acts of God, fire or other casualty to the
Minimum Improvements, litigation commenced by third parties which, by injunction or other
similar judicial action or by the exercise of reasonable discretion directly results in delays,
or acts of any federal, state or local government which directly result in extraordinary
delays. The time for performance of such obligations shall be extended only for the period
of such delay.
2.5 Certificate of Completion. Promptly following the request of Developer upon
completion of the Minimum Improvements, City shall furnish Developer with an appropriate
instrument so certifying. Such certification (the Certificate of Completion) shall be in
recordable form and shall be a conclusive determination of the satisfaction of Developer's
obligations to make the Minimum Improvements under this Agreement and completion of
the Minimum Improvements by Developer as required by this Agreement.
SECTION 3. CITY PARTICIPATION
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3.1 Financial Incentives. The financial incentives set forth in this Section 3 are full and
complete and cannot be modified except by amendment to this Agreement. City is under
no obligation to approve any such amendment.
3.2 Downtown Housing Incentive.
(1) City agrees to provide to Developer on the terms and conditions set forth in
the Downtown Housing Incentive Program attached hereto as Exhibit F, a grant in
the amount of Forty Thousand Dollars ($40,000.00) (the Grant).
(2) Grant funds will not be disbursed to Developer until City has issued a
Certificate of Occupancy for the Project. The Grant shall be paid in Ten Thousand
Dollar ($10,000.00) payments for each apartment that receives a Certificate of
Occupancy up to a maximum of four apartments. Prior to the disbursement of any
funds, Developer shall provide evidence satisfactory to City that the Minimum
Improvements have been completed in accordance with the Plans and other
documentation submitted to City with the Downtown Housing Assistance
application.
3.3 The Property is located in the West 11th Street Urban Revitalization District and
Developer is eligible for property tax abatements on the Minimum Improvements for a
period of up to 10 years. Developer must apply for such abatement by February 1st of the
assessment year for which the abatement is first claimed, but not later than the year in
which all the Minimum Improvements are first assessed for taxation.
The application for abatement must contain, at a minimum, the following:
a) The nature of the Minimum Improvements;
b) The cost of the Minimum Improvement;
c) The actual or estimated date of completion; and
d) The exemption option to be applied.
3.4 Design Grant. City agrees to provide a matching (1:1) grant not to exceed ten
thousand dollars ($10,000) to reimburse Developer for documented predevelopment costs,
architectural and engineering fees and other authorized soft costs associated with the
rehabilitation of the Property. Prior to the release of any grant funds, City must determine
to its satisfaction that the Project is substantially complete and meets the conditions of this
Agreement.
3.5 Facade Grant. City agrees to provide a matching (1:1) grant not to exceed ten
thousand dollars ($10,000) to reimburse Developer for documented costs for front or rear
facade renovations to the Property to eliminate inappropriate additions or alterations and to
restore the facade to its historic appearance, or to rehabilitate the facade to include new
windows, paint, signage, awnings, etc. to improve the overall appearance of the Property,
and the costs of landscaping or screening with fencing or retaining walls if such
landscaping or screening improves the Property adjacent to the public right -of -way.
6
3.6 Financial Consultant Grant. City agrees to provide a grant not to exceed fifteen
thousand dollars ($15,000) to reimburse Developer for documented costs related to hiring
a financial consultant to evaluate the Project's feasibility. Such funds will be disbursed only
on completion of the Minimum Improvements, documentation of costs and an inspection of
the completed Project at a rate of $.50 for each $1.00 of costs incurred.
3.7. Written requests for payment of grant funds must be submitted to the Economic
Development Department together with all required documentation.
SECTION 4. COVENANTS OF DEVELOPER
4.1 The Minimum Improvements shall conform to the U.S. Secretary of the Interior's
Standards for Rehabilitation.
4.2 [This section intentionally left blank.]
4.3 Books and Records. During the term of this Agreement, Developer shall keep at all
times and make available to City upon reasonable request proper books of record and
account in which full, true and correct entries will be made of all dealings and transactions
of or in relation to the business and affairs of Developer in accordance with generally
accepted accounting principles consistently applied throughout the period involved, and
Developer shall provide reasonable protection against loss or damage to such books of
record and account.
4.4 Real Property Taxes. Developer shall pay or cause to be paid, when due, all real
property taxes and assessments payable with respect to all and any parts of the Property
unless Developer's obligations have been assumed by another person pursuant to the
provisions of this Agreement.
4.5 No Other Exemptions. During the term of this Agreement, Developer agrees not to
apply for any state or local property tax exemptions which are available with respect to the
Development Property or the Minimum Improvements located thereon that may now be, or
hereafter become, available under state law or city ordinance during the term of this
Agreement, including those that arise under Iowa Code Chapters 404 and 427, as
amended.
4.6 Insurance Requirements.
(1) Developer shall provide and maintain or cause to be maintained at all times
during the process of constructing the Minimum Improvements and at its sole cost
and expense builder's risk insurance, written on a Completed Value Form in an
amount equal to one hundred percent (100 %) of the building (including Minimum
Improvements) replacement value when construction is completed. Coverage shall
include the "special perils" form and developer shall furnish City with proof of
insurance in the form of a certificate of insurance.
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(2) Upon completion of construction of the Minimum Improvements and up to the
Termination Date, Developer shall maintain, or cause to be maintained, at its cost
and expense property insurance against loss and /or damage to the building
(including the Minimum Improvements) under an insurance policy written with the
"special perils" form and in an amount not less than the full insurable replacement
value of the building (including the Minimum Improvements). Developer shall
furnish to City proof of insurance in the form of a certificate of insurance.
(3) The term "replacement value" shall mean the actual replacement cost of the
building with Minimum Improvements (excluding foundation and excavation costs
and costs of underground flues, pipes, drains and other uninsurable items) and
equipment, and shall be reasonably determined from time to time at the request of
City, but not more frequently than once every three (3) years.
(4) Developer shall notify City immediately in the case of damage exceeding
$50,000 in amount to, or destruction of, the Minimum Improvements or any portion
thereof resulting from fire or other casualty. Net proceeds of any such insurance
(Net Proceeds), shall be paid directly to Developer as its interests may appear, and
Developer shall forthwith repair, reconstruct and restore the Minimum Improvements
to substantially the same or an improved condition or value as they existed prior to
the event causing such damage and, to the extent necessary to accomplish such
repair, reconstruction and restoration, Developer shall apply the Net Proceeds of
any insurance relating to such damage received by Developer to the payment or
reimbursement of the costs thereof, subject, however, to the terms of any mortgage
encumbering title to the Property (as its interests may appear). Developer shall
complete the repair, reconstruction and restoration of Minimum Improvements
whether or not the Net Proceeds of insurance received by Developer for such
purposes are sufficient.
4.7 Preservation of Property. During the term of this Agreement, Developer shall
maintain, preserve and keep, or cause others to maintain, preserve and keep, the
Minimum Improvements in good repair and working order, ordinary wear and tear
accepted, and from time to time shall make all necessary repairs, replacements, renewals
and additions.
4.8 Non - Discrimination. In carrying out the project, Developer shall not discriminate
against any employee or applicant for employment because of race, religion, color, sex,
sexual orientation, gender identity, national origin, age or disability.
4.9 Conflict of Interest. Developer agrees that no member, officer or employee of City,
or its designees or agents, nor any consultant or member of the governing body of City,
and no other public official of City who exercises or has exercised any functions or
responsibilities with respect to the project during his or her tenure, or who is in a position to
participate in a decision - making process or gain insider information with regard to the
project, shall have any interest, direct or indirect, in any contract or subcontract, or the
proceeds thereof, for work to be performed in connection with the project, or in any activity,
or benefit therefrom, which is part of this project at any time during or after such person's
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tenure. In connection with this obligation, Developer shall have the right to rely upon the
representations of any party with whom it does business and shall not be obligated to
perform any further examination into such party's background.
4.10 Non - Transferability. Until such time as the Minimum Improvements are complete
(as certified by City under Section 2.5), this Agreement may not be assigned by Developer
nor may the Property be transferred by Developer to another party. Thereafter, with the
prior written consent of City, which shall not be unreasonably withheld, Developer shall
have the right to assign this Agreement, and upon assumption of the Agreement by the
assignee, Developer shall no longer be responsible for its obligations under this
Agreement.
4.11 No change in Tax Classification. Developer agrees that it will not take any action
to change, or otherwise allow, the classification of the Property for property tax
purposes to become other than commercial property and to be taxed as such under
Iowa law. This restriction shall terminate upon the termination of this Agreement.
Developer may have the Property reclassified in the event the State of Iowa laws
are modified to allow a building containing four apartments within one building to be
classified as residential for property tax purposes.
4.12 Restrictions on Use. Developer agrees for itself, and its successors and assigns,
and every successor in interest to the Property or any part thereof, for the duration of this
Agreement, that they, and their respective successors and assigns, shall:
(1) Devote the Property to, and only to and in accordance with, the uses
specified in the Urban Renewal Plan (and City represents and agrees that use of
the Property as a restaurant and upper -story housing, is in full compliance with the
Urban Renewal Plan) (however, Developer shall not have any liability to City to the
extent that a successor in interest shall breach this covenant and City shall seek
enforcement of this covenant directly against the party in breach of same); and
(2) Not discriminate upon the basis of race, religion, color, sex, sexual
orientation, national origin, age or disability in the sale, lease, rental, use or
occupancy of the Property or any improvements erected or to be erected thereon, or
any part thereof (however, Developer shall not have any liability to City to the extent
that a successor in interest shall breach this covenant and City shall seek
enforcement of this covenant directly against the party in breach of same).
4.13 Compliance with Laws. Developer shall comply with all laws, rules and regulations
relating to its businesses, other than laws, rules and regulations the failure to comply with
or the sanctions and penalties resulting therefrom, would not have a material adverse
effect on the business, property, operations, financial or otherwise, of Developer.
SECTION 5. EVENTS OF DEFAULT AND REMEDIES
9
5.1 Events of Default Defined. The following shall be Events of Default under this
Agreement and the term Event of Default shall mean, whenever it is used in this
Agreement, any one or more of the following events:
(1) Failure by Developer to pay or cause to be paid, before delinquency, all real
property taxes assessed with respect to the Minimum Improvements and the
Property.
(2) Failure by Developer to cause the construction of the Minimum
Improvements to be commenced and completed pursuant to the terms, conditions
and limitations of this Agreement.
(3) Transfer of any interest by Developer of the Minimum Improvements in
violation of the provisions of this Agreement prior to the issuance of the final
Certificate of Completion.
(4) Failure by Developer or City to substantially observe or perform any other
material covenant, condition, obligation or agreement on its part to be observed or
performed under this Agreement.
5.2. Remedies on Default by Developer. Whenever any Event of Default referred to in
Section 5.1 of this Agreement occurs and is continuing, City, as specified below, may take
any one or more of the following actions after the giving of written notice by City to
Developer (and the holder of any mortgage encumbering any interest in the Property of
which City has been notified of in writing) of the Event of Default, but only if the Event of
Default has not been cured within sixty (60) days following such notice, or if the Event of
Default cannot be cured within sixty (60) days and Developer does not provide assurances
to City that the Event of Default will be cured as soon as reasonably possible thereafter:
(1) City may suspend its performance under this Agreement until it receives
assurances from the Developer deemed adequate by City, that the Developer will
cure its default and continue its performance under this Agreement;
(2) Until the Closing Date, City may cancel and rescind this Agreement;
(3) Until issuance of the Certificate of Completion, City shall be entitled to
recover from Developer the sum of all amounts expended by City in connection with
the funding of the Downtown Rehab Loan /Grant and Economic Development Grant
to Developer and City may take any action, including any legal action it deems
necessary, to recover such amounts from the Developer;
(4) City may withhold the Certificate of Completion; or
(5) City may take any action, including legal, equitable or administrative action,
which may appear necessary or desirable to collect any payments due under this
Agreement or to enforce performance and observance of any obligation,
agreement, or covenant under this Agreement.
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5.3 No Remedy Exclusive. No remedy herein conferred upon or reserved to City is
intended to be exclusive of any other available remedy or remedies, but each and every
such remedy shall be cumulative and shall be in addition to every other remedy given
under this Agreement or now or hereafter existing at law or in equity or by statute. No
delay or omission to exercise any right or power accruing upon any default shall impair any
such right or power or shall be construed to be a waiver thereof, but any such right and
power may be exercised from time to time and as often as may be deemed expedient.
5.4 No Implied Waiver. In the event any agreement contained in this Agreement should
be breached by any party and thereafter waived by any other party, such waiver shall be
limited to the particular breach so waived and shall not be deemed to waive any other
concurrent, previous or subsequent breach hereunder.
5.5 Agreement to Pay Attorneys' Fees and Expenses. If any action at law or in equity,
including an action for declaratory relief or arbitration, is brought to enforce or interpret the
provisions of this Agreement, the prevailing party shall be entitled to recover reasonable
attorneys' fees and costs of litigation from the other party. Such fees and costs of litigation
may be set by the court in the trial of such action or by the arbitrator, as the case may be,
or may be enforced in a separate action brought for that purpose. Such fees and costs of
litigation shall be in addition to any other relief that may be awarded.
5.6 Remedies on Default by City. If City defaults in the performance of this Agreement,
Developer may take any action, including legal, equitable or administrative action that may
appear necessary or desirable to collect any payments due under this Agreement, to
recover expenses of Developer, or to enforce performance and observance of any
obligation, agreement, or covenant of City under this Agreement. Developer may suspend
their performance under this Agreement until they receive assurances from City, deemed
adequate by Developer, that City will cure its default and continue its performance under
this Agreement.
SECTION 6. GENERAL TERMS AND PROVISIONS
6.1 Notices and Demands. Whenever this Agreement requires or permits any notice or
written request by one party to another, it shall be deemed to have been properly given if
and when delivered in person or three (3) business days after having been deposited in
any U.S. Postal Service and sent by registered or certified mail, postage prepaid,
addressed as follows:
If to Developer:
With copy to:
'v'Veaver Castle, LLC
Attn: Gary Stelpflug
7693 Pigeon River Road
Lancaster, WI 53813
Attorney A. John Arenz
O'Connor & Thomas, P.C.
700 Locust Street, Suite 200
11
If to City:
With copy to:
Dubuque, IA 52001
City Manager
50 W. 13th Street
Dubuque, Iowa 52001
Phone: (563) 589 -4110
Fax: (563) 589 -4149
City Attorney
City Hall
50 W. 13th Street
Dubuque IA 52001
or at such other address with respect to either party as that party may, from time to time
designate in writing and forward to the other as provided in this Section.
6.2 Binding Effect. This Agreement shall be binding upon and shall inure to the benefit
of City and Developer and their respective successors and assigns.
6.3 Termination Date. This Agreement and the rights and obligations of the parties
hereunder shall terminate on December 31, 2023 (the Termination Date).
6.4. Execution By Facsimile. The parties agree that this Agreement may be transmitted
between them by facsimile machine. The parties intend that the faxed signatures
constitute original signatures and that a faxed Agreement containing the signatures
(original or faxed) of all the parties is binding on the parties.
6.5 Memorandum of Development Agreement. Developer shall promptly record a
Memorandum of Development Agreement in the form attached hereto as Exhibit D in the
office of the Recorder of Dubuque County, Iowa. Developer shall pay the costs for so
recording.
IN WITNESS WHEREOF, City has caused this Agreement to be duly executed in its
name and behalf by its Mayor and attested to by its City Clerk and Developer has caused
this Agreement to be duly executed on or as of the first above written.
CITY OF DUBUQUE, IOWA
WEAVER CASTLE LLC.
By By /t/Li''
Roy D.ol Gary Manager
Mayor
Attests f�
Kevin S Firnstahl
City Clerk
12
(City Seal)
STATE OF IOWA
COUNTY OF DUBUQUE
)
)
)
SS
On this 4th day of February 20 13 before me the undersigned, a Notary
Public in and for the said County and State, personally appeared Roy D. Buol and Kevin S.
Firnstahl, to me personally known, who, being by me duly sworn, did say that they are the
Mayor and City Clerk, respectively, of the City of Dubuque, Iowa, a municipal corporation
executing the instrument to which this is attached; that the seal affixed hereto is the seal of
said municipal corporation; that said instrument was signed and sealed on behalf of the
City of Dubuque, Iowa, by authority of its City Council; and that said Mayor and City Clerk
acknowledged the execution of said instrument to be the voluntary act and deed of said
City, by it and by hem voluntarily executed.
Notary Public
STATE OF IOWA
ee(toon}
COUNTY OF DUBUQUE
)
)
)
SS
PAMEE...•'• •
... ERcGrsRl3ON
: Number 772413
On this i 6 day of JO Nu a v 201 before me the undersigned, a Notary
Public in and for the State of Iowa,rsonally appeared Gary Stelpflug, to me personally
known, who, being by me duly sworn, did say that he is Manager of
Weaver Castle LLC. the limited liability company executing the instrument to which this is
attached and that as said Manager of Weaver Castle LLC. acknowledged the execution of
said instrument to be the voluntary act and deed of said company, by it and by him
voluntarily executed.
13
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lcorr5lcslon Wumbsr 70634
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EXHIBIT A —
EXHIBIT B —
EXHIBIT C
EXHIBIT D
EXHIBIT E —
EXHIBIT F —
LIST OF EXHIBITS
City Attorney's Certificate
Opinion of Developer's Counsel
— City Certificate
— Memorandum of Development Agreement
Urban Renewal Plan
Downtown Housing Incentive Program
EXHIBIT A
CITY ATTORNEY'S CERTIFICATE
15
BARRY A. LINDAHL, ESQ.
CITY ATTORNEY
RE:
Dear
(DATE)
THE CITY OF
DUB E
I have acted as counsel for the City of Dubuque, Iowa, in connection with the execution
and delivery of a certain Development Agreement between (Developer)
and the City of Dubuque, Iowa (City) dated for reference purposes the day of
, 20.
The City has duly obtained all necessary approvals and consents for its execution, delivery
and performance of this Agreement and has full power and authority to execute, deliver
and perform its obligations under this Agreement, and to the best of my knowledge, the
representations of the City Manager in his letter dated the day of , 20_,
are correct.
BAL:tls
16
Very sincerely,
Barry A. Lindahl, Esq.
City Attorney
EXHIBIT B
OPINION OF DEVELOPER'S COUNSEL
17
Mayor and City Councilmembers
City Hall
13th and Central Avenue
Dubuque IA 52001
Re: Development Agreement Between the City of Dubuque, Iowa and
Dear Mayor and City Councilmembers:
We have acted as counsel for , in connection with the execution and
delivery of a certain Development Agreement (Development Agreement) between Developer and the
City of Dubuque, Iowa (City) dated for reference purposes the day of , 2013.
We have examined the original certified copy, or copies otherwise identified to our
satisfaction as being true copies, of the Development Agreement and such other documents and
records as we have deemed relevant and necessary as a basis for the opinions set forth herein.
Based on the pertinent law, the foregoing examination and such other inquiries as we have
deemed appropriate, we are of the opinion that:
1. Developer is a limited liability company organized and existing under the laws of the
State of Iowa and has full power and authority to execute, deliver and perform in full the
Development Agreement. The Development Agreement has been duly and validly authorized,
executed and delivered by Developer and, assuming due authorization, execution and delivery by
City, is in full force and effect and is a valid and legally binding instrument of Developer enforceable
in accordance with its terms, except as the same may be limited by bankruptcy, insolvency,
reorganization or other laws relating to or affecting creditors' rights generally.
2. To our actual knowledge with no duty to inquire, the execution, delivery and
performance by Developer of the Development Agreement and the carrying out of the terms thereof,
will not result in violation of any provision of, or in default under, the articles of incorporation and
bylaws of Developer, any indenture, mortgage, deed of trust, indebtedness, agreement, judgment,
decree, order, statute, rule, regulation or restriction to which Developer is a party or by which
Developer's property is bound or subject.
3. To our actual knowledge with no duty to inquire, there are no actions, suits or
proceedings pending or threatened against or affecting Developer in any court or before any
arbitrator or before or by any governmental body in which there is a reasonable possibility of an
adverse decision which could materially adversely affect the business (present or prospective),
financial position or results of operations of Developer or which in any manner raises any questions
affecting the validity of the Agreement or the Developer's ability to perform Developer's obligations
thereunder.
This opinion is rendered for the sole benefit of the City of Dubuque and no other party may rely on
this opinion.
18
This opinion is rendered and valid as of the date of this letter and we have no duty to update this
opinion for any matters which come to our knowledge after the date of this letter.
Sincerely,
19
EXHIBIT C
CITY CERTIFICATE
20
City Manager's Office
50 West 13th Street
Dubuque, Iowa 52001 -4864
(563) 589 -4110 phone
(563) 589 -4149 fax
c tymgrOci tyofd u b u qu e. org
Dear
(DATE)
THE CITY OF
DUB
I am the City Manager of the City of Dubuque, Iowa and have acted in that capacity in
connection with the execution and delivery of a certain Development Agreement between
(Developer) and the City of Dubuque, Iowa (City) dated for reference
purposes the day of , 20_
On behalf of the City of Dubuque, I hereby represent and warrant to Developer that:
(1) City has duly obtained all necessary approvals and consents for its
execution, delivery and performance of this Agreement and that it has full power
and authority to execute, deliver and perform its obligations under this Agreement.
City's attorney shall issue a legal opinion to Developer at time of closing confirming
the representation contained herein, in the form attached hereto as Exhibit B.
(2) City shall exercise its best efforts to cooperate with Developer in the
development process.
(3) City shall exercise its best efforts to resolve any disputes arising during the
development process in a reasonable and prompt fashion.
(4) The execution and delivery of this Agreement, the consummation of the
transactions contemplated hereby, and the fulfillment of or compliance with the
terms and conditions of this Agreement are not prevented by, limited by, in conflict
with, or result in a violation or breach of, the terms, conditions or provisions of the
charter of City, any evidence of indebtedness, agreement or instrument of whatever
nature to which City is now a party or by which it or its property is bound, or
constitute a default under any of the foregoing.
(5) There are no actions, suits or proceedings pending or threatened against or
affecting City in any court or before any arbitrator or before or by any governmental
body in which there is a reasonable possibility of an adverse decision which could
materially adversely affect the financial position or operations of City or which
21
affects the validity of the Agreement or City's ability to perform its obligations under
this Agreement.
(6) No ordinance or hearing is now or before any local governmental body that
either contemplates or authorizes any public improvements or special tax levies, the
cost of which may be assessed against the Property. To the best of City's
knowledge, there are no plans or efforts by any government agency to widen,
modify, or re -align any street or highway providing access to the Property and there
are no pending or intended public improvements or special assessments affecting
the Property which will result in any charge or lien be levied or assessed against the
Property.
(7) The representations and warranties contained in this article shall be correct
in all respects on and as of the Closing Date with the same force and effect as if
such representations and warranties had been made on and as of the Closing Date.
MCVM :jh
22
Sincerely,
Michael C. Van Milligen
City Manager
EXHIBIT D
MEMORANDUM OF DEVELOPMENT AGREEMENT
23
Prepared by: Barry A. Lindahl 300 Main Street Suite 330 Dubuque IA 52001 563 583 -4113
Return to: Barry A. Lindahl 300 Main Street Suite 330 Dubuque IA 52001 563 583 -4113
MEMORANDUM OF DEVELOPMENT AGREEMENT
A Development Agreement by and among the City of Dubuque, Iowa, an Iowa municipal
corporation, of Dubuque, Iowa, and Weaver Castle LLC. was made regarding the following
described premises:
[INSERT LEGAL DESCRIPTION]
The Development Agreement is dated for reference purposes the day of
, 2013, and contains covenants, conditions, and restrictions concerning the sale
and use of said premises.
This Memorandum of Development Agreement is recorded for the purpose of
constructive notice. In the event of any conflict between the provisions of this
Memorandum and the Development Agreement itself, executed by the parties, the terms
and provisions of the Development Agreement shall prevail. A complete counterpart of the
Development Agreement, together with any amendments thereto, is in the possession of
the City of Dubuque and may be examined at its offices as above provided.
Dated this day of , 2013.
CITY OF DUBUQUE, IOWA WEAVER CASTLE LLC.
By By
Roy D. Buol Gary Stelpflug, Manager
Mayor
Attest:
Kevin S. Firnstahl
City Clerk
24
STATE OF IOWA
COUNTY OF DUBUQUE
)
)
)
SS
On this day of , 20_, before me, a Notary Public in and for the State of
Iowa, in and for said county, personally appeared Roy D. Buol and Kevin S. Firnstahl, to
me personally known, who being by me duly sworn did say that they are the Mayor and
City Clerk, respectively of the City of Dubuque, a Municipal Corporation, created and
existing under the laws of the State of Iowa, and that the seal affixed to said instrument is
the seal of said Municipal Corporation and that said 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, State of Iowa
STATE OF IOWA
COUNTY OF DUBUQUE
)
)
)
SS
On this day of 20_, before me the undersigned, a Notary
Public in and for the State of Iowa, personally appeared Gary Stelpflug, to me personally
known, who, being by me duly sworn, did say that he is Manager of Weaver Castle LLC.,
the limited liability company executing the instrument to which this is attached and that as
said Manager of Weaver Castle LLC., acknowledged the execution of said instrument to be
the voluntary act and deed of said company, by it and by him voluntarily executed.
Notary Public, State of Iowa
25
EXHIBIT E
Urban Renewal Plan
26
Prepared by:
Return to:
Phil Wagner, City of Dubuque, 50 W. 13th Street, Dubuque, IA 52001 (563) 589 -4393
Kevin S. Firnstahl, City of Dubuque, 50 W. 13th Street, Dubuque, IA 52001 (563) 589 -4121
AMENDED and RESTATED
URBAN RENEWAL PLAN
Greater Downtown Urban Renewal District
(A merger of the Downtown Dubuque, Ice Harbor, Kerper Boulevard, East 7th
Street and Quebecor Urban Renewal Districts)
City of Dubuque, Iowa
This Amended and Restated Urban Renewal Plan for the Greater Downtown Urban
Renewal District traces its beginnings to the merger of the Downtown Urban Renewal Area
Project Number Iowa R -15, originally established by Resolution 123 -67 by the City Council
of the City of Dubuque, Iowa on May 18, 1967 and subsequently amended and restated
by Resolution 79 -71 on March 15, 1971, by Resolution 73 -74 on March 11, 1974, by
Resolution 107 -82 on May 3, 1982, by Resolution 191 -84 on June 25, 1984, by Resolution
371 -93 on December 6, 1993, by Resolution 145 -94 on May 2, 1994, by Resolution 479 -97
on November 17, 1997, by Resolution 476 -98 on October 19, 1998 and by Resolution 187-
02 on April 1, 2002, with the Ice Harbor Urban Renewal District, originally established by
Resolution 403 -89 of the City Council of the City of Dubuque, Iowa on December 18, 1989
and subsequently amended and restated by Resolution 241 -00 on June 5, 2000 and by
Resolution 114 -02 on March 4, 2002. The Urban Renewal Plan for the Greater Downtown
Urban Renewal District resulting from that merger was later amended by Resolution 170 -04
on April 19, 2004, by Resolution 391 -06 on August 21, 2006, by Resolution 108 -07 on
February 20th, 2007, by Resolution 597 -07 on December 17, 2007, by Resolution 300 -08
on September 2, 2008, by Resolution 393 -09 on October 5, 2009, and by Resolution 26 -10
on July 19, 2010. On May 2, 2011 the Kerper Boulevard Industrial Park Economic
Development District originally established by Resolution 274 -94 on August 15, 1994 and
the East 7th Street Economic Development District, originally established by Resolution
144 -97 on April 7, 1997 were merged into and became part of the Greater Downtown
Urban Renewal District, pursuant to Resolution 155 -11 approved on May 2, 2011. The
Quebecor Economic Development District, originally established by Resolution 479 -02 on
September 16, 2002, was merged into and became part of the Greater Downtown Urban
Renewal District pursuant to Resolution approved on , 2012.
27
EXHIBIT F
DOWNTOWN HOUSING INCENTIVE PROGRAM
28
Economic Development
Department
City Hall — Second Floor
50 West 13th Street
Dubuque, Iowa 52001-
4864 (563) 589 -4393
Office
(563) 589 -1733 Fax
(563) 589 -6678 TDD
THE CITY OF
DUB
Masterpiece on the Mississippi
DOWNTOWN HOUSING INCENTIVE
PROGRAM
David J. Heiar
Economic Development Director
dheiar(cr�cityofdubuque.orq
October 30, 2012
Phil Wagner
Asst. Economic Development Director
pwaqnercityofdubuque.org
50 West 13th Street
Dubuque, IA 52001
563- 589 -4393
Projects eligible to receive assistance from this established pool of funds must meet the following
requirements:
• The project must assist in the creation of new market -rate downtown rental and /or owner -
occupied residential units within the Greater Downtown Urban Renewal District.
• The project must be the rehabilitation of an existing structure.
• Within the Washington Neighborhood, rental units must be located above a commercial
component on the first floor of the building unless the project is rehabilitating or reusing a former
church or school building.
• Exterior alterations are subject to design review and approval. The Historic District Guidelines
shall apply to projects located in Historic Preservation District. The Downtown Design Guidelines
shall apply to all other project locations. Projects which conform to the applicable guidelines may
be reviewed and approved by the City Planner. Projects that do not strictly conform to the
applicable guidelines will be forwarded to the Historic Preservation Commission (HPC) for
consideration. New construction or substantial rehabilitation projects may also be considered by
the HPC. The process for review is at the discretion of the City Planner. Guidelines can be
viewed and downloaded at http : / /www.citvofdubuque.org /design guidelines.
• Any signs on the property that do not comply with City zoning regulations and design guidelines
must be included in the design review and improved to comply with applicable City Codes.
Submittal must include the design materials and colors that will be used on the sign face, how the
sign will be displayed, and any lighting proposed.
• Include detailed drawing of the proposed project. The plans should include dimensions and
architectural details and label materials. Plans prepared by a design professional (e.g. architect
or draftsperson) are strongly recommended. Applications without detailed drawings will not be
considered complete and will not be accepted by the City.
29
• Deviation from an approved project plan may disqualify the project from the program.
• Preference will be given to projects that also utilize Federal and /or State Historic Tax Credits.
• No more than $10,000 in assistance will be considered per residential unit.
• In general, no more than $750,000 will be provided to a single project.
• No developer fee will be permitted until all city assistance is paid or satisfied in full.
• The City will disperse awarded funds for the benefit of the project once the project is
completed and a Certificate of Occupancy has been given for the housing units.
• Each approved project will also be eligible to receive site - specific Tax Increment
Financing (TIF) for up to a 10 year period, depending on the project type and scope.
• A minimum of 2 new housing units must be created in the project.
• Units smaller than 650 square feet will not be eligible for this project.
• No residential units will be allowed to have a restriction of less than 80% of the median income.
• No more than 65% of the units of any project can have a restriction of 80% of the median
income.
• A project that is funded by Low Income Tax Credits (LITC) is not eligible.
• The owner(s) of the property must certify that all other property in the City of Dubuque in which
the owner(s) has any interest, complies with all applicable City of Dubuque ordinances and
regulations, including, but not limited to, housing, building, zoning, fire, health, and vacant and
abandoned building regulations.
30
CITY OF DUBUQUE
OFFICIAL NOTICE
NOTICE OF A PUBLIC
HEARING OF THE
CITY COUNCIL OF
THE CITY OF DUBU-
QUE, IOWA, ON THE
MATTER OF TIME
PROPOSED AUTHORI-
ZATION OF URBAN
RENEWAL TAX INCRE-
MENT REVENUE
OBLIGATIONS AND
THE EXECUTION SF A
DEVELOPMENT
AGREEMENT RELAT-
ING THERETO ; WITH
THE WEAVER CAS-
TLE, LLC
PUBLIC NOTICE is
hereby given that the
City Council of the City
of Dubuque, Iowa, will
hold a public hearing
on the 4th day of
February, 2013, at 6:30
p.m. in the City Council
Chambers at the
Historic Federal Build-
ing, 350 W 6th St.
Dubuque, Iowa, at
which meeting the City
Council proposes to
take action for the
authorization of Urban
Renewal Tax Increment
Revenue obligations
and the execution of a
Development Agree-
ment relating thereto
with Weaver Castle,
LLC, for the rehabil-
itation of property
located at 407 -409
Loras Blvd in order to
carry out certain of the
special financing activ-
ities in the Greater
Downtown Urban
Renewal District, con-
sisting of the funding
of economic develop-
ment grants to Weaver
Castle, LLC, pursuant
to " a Development
Agreement entered
into with Weaver
Castle, LLC under the
terms and conditions
of said agreement. It is
expected that the
aggregate amount of
the Tax increment
Revenue obligations is
approximately $75,000.
At the meeting, the
City, Council will
receive oral and
written objections from
any resident or pro-
perty owner of said
City to the above
action. After all
objections have been
received and con -
sidered, the City
Council may at this
meeting or at any
adjournment thereof,
the approval of the
Development Agree-
ment, and authoriza-
tion of such Tax
Increment Revenue
obligations or will
abandon the proposal.
By order of the City
Council said hearing
and appeals there from
shall be held " in
accordance with and
governed by the
provisions of ; Section
403.9 of the Code of
Iowa:
Any visual or hearing
impaired persons need -`
ing special assistance
or persons with special
accessibility needs
should contact the City
Clerk's Office at (563)
589 -4100 or TTY (563)!
690 -6678 at least 48
hours prior to the
meeting.
This notice is given by
order of the City
Council of the City of
Dubuque, - Iowa, as
provided by Chapter
403 of the Code of
Iowa.
Dated this 25th day of
January, 2013.
Kevin Firnstahl,
City Clerk of Dubuque,
Iowa
RESOLUTION
NO.22 -13
FIXING THE DATE
FOR ° A PUBLIC'
NEARING OF THE
CITY COUNCIL OF
THE CITY OF DUBU-
QUE, IOWA ON THE
PROPOSED ISSUANCE
OF IJIIBAN RENEWAL
TAX INCREMENT
REVENUE OBLIGA-
TIONS AND THE
EXECUTION " OF A
DEVELOPMENT
AGREEMENT RELAT-
ING THERETO WITH
WEAVER CASTLE,
LLC, AND PROVIDING
FOR THE PUBLICA-
TION ' OF NOTICE'
THEREOF
Whereas, City and
Weaver Castle, LLC
have entered into a
Development Agree-
ment, subject to the
approval of the City
Council, a copy of
which is now on file at
the Office of the City
Clerk, City Hall, 13th
and Central Avenue,
Dubuque, Iowa; and
Whereas, the City
Council has tentatively
determined that it
would be in the best
interests of the City to
approve the Devel-
opment Agreement,
with Weaver Castle,
LLC; and
Whereas, it is deemed
necessary and advis-
able that City should
authorize Urban
Renewal Tax Increment
Revenue obligations,
as provided by Chapter
403 of the Code of
Iowa, and to enter into
the Development
Agreement relating
thereto for the purpose
of carrying out the
rehabilitation of pro -
perty located at 407-
409 Loras Blvd as
hereinafter described;
and
oWbherligations eas, before said.
may be
approved, Chapter 403
of the Code of Iowa
requires that the City
Clerk publish a notice
of the proposal and of
the time and place of
the meeting at which
the City Council
proposes to take action
thereon and at which
meeting the City
Council, shall receive
oral - and /or written
objections from any
resident or property
owner: of said City to
such proposed action.
NOW THEREFORE, BE
IT RESOLVED BY THE
CITY COUNCIL OF THE
CITY OF DUBUQUE,
IOWA:
Section 1. The City
Clerk is hereby
authorized and
directed to cause this
Resolution and a notice
to be ' published as
prescribed by Iowa
Code Section 403.9 of a
public hearing on the
City's intent authorize
Urban Renewal Tax
Increment Revenue
obligations, to be held
on the 4th day of
February, 2013, at 6 :30
o'clock p.m. in the City
Council Chambers at
the Historic : Federal
Building, 350 W. 6th St.,
Dubuque, Iowa.
Section 2. The City
Council will meet at
said time and place for
the purpose of taking
action on the matter of
authorizing Urban
Renewal Tax Increment
Revenue obligations
and the execution of
the Development
Agreement relating
thereto with Weaver
Castle, LLC, the
proceeds of which
obligations will be used
to carry out certain of
the special financing
activities described in
the Greater Downtown
Urban Renewal District,
consisting of the
funding of economic
developments grants
to Weaver Castle, LLC
pursuant to the
Development - Agree-
ment under the terms
and conditions of said
West llth Street Urban
Revitalization District
Plan. It is expected
that the s aggregate
amount of the Tax
fncrement Revenue
obligations is approx-
imately $75,000.
Section 3. The Clerk is
hereby directed to
cause at least one
publication to be made
of a notice of said
meeting, in a
newspaper, printed
wholly in the English
language, published at
least once weekly, and
having general circu-
lation in said City, said
publication to be not
less than four days nor
more than twenty days
before the date of said
meeting on the
issuance of said
obligations.
Section 4. That the
notice of the proposed
action to issue said
obligations shall be in
substantially the form
attached hereto.
Passed, approved and
adopted this 22th day
of January, 2013.
Roy D.'Buol, Mayor
Attest: Kevin Firnstahl,
City Clerk
it 1/25
STATE OF IOWA {SS:
DUBUQUE COUNTY
CERTIFICATION OF PUBLICATION
I, Suzanne Pike, a Billing Clerk for Woodward Communications, Inc., an Iowa
corporation, publisher of the Telegraph Herald,a newspaper of general circulation
published in the City of Dubuque, County of Dubuque and State of Iowa; hereby
certify that the attached notice was published in said newspaper on the following
dates: January 25, 2013, and for which the charge is $82.35.
Subscribed to before m , Notary Public in and for Dubuque County, Iowa,
this day oft 20 / .
Notary Public in and for Dubuque County, Iowa.
K,
T;z,_ n