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Economic Development FY 2014 Budget PresentationEconomic Development FY 2014 Budget Presentation Dubuque Ranked 16th in top 100 cities and 3rd among Midwest cities as Leading Locations 2012 Area Development Magazine Diverse, Strong Dubuque Economy Dubuque is one of just 26 metro areas (out of 363) that have completely recovered the jobs lost during the recession. Study commissioned by the U.S. Conference of Mayors, January 2012 ects CONN 4S" vi- 0 w i-t * * * At City Council Priorities 4 Historic Millwork District Master Plan 4 Support of Greater Dubuque Development Corporation 4 Washington Neighborhood Strategy 4 Master Plan for Chaplain Schmitt Island 4 New Industrial Park Location and Action Plan City Council Priorities Management Agenda Industrial Riverfront Leases Arts and Economic Prosperity Study Workforce Market -Rate Housing Strategy Teaming with Other City Departments Parking Division Housing & Community Development Leisure Services Public Information Office c Planning Services Economic Development dieele Q \4 Human Rights \jot/ Information Services City Attorneys Office Finance Teaming with Other City Departments Economic Development Partnering with Government Agencies Iowa Department of Transportation (IDOT) Economic Development Administration (EDA) Iowa Department of Cultural Affairs (IDCA) i Iowa L Economic Development Authority (IEDA) Economic Development National Park Service (NPS) Dubuque County Partnerships with Non - Profit Agencies East Central Intergovernmental Agency Dubuque Main Street Prosperity Eastern Iowa St. Mary's Task Force Dubuque Initiatives -17%\rA' Economic Development % Greater Dubuque Development Corporation Four Mounds Foundation Washington Neighborhood Development Corporation Passenger Rail Community Foundation of Greater Dubuque Dubuque Area Chamber of Commerce Dubuque Art Center I Accomplishments 8- Development Agreements O A. Y. McDonald Mfg.Co. O The Rose of Dubuque, L.P. 4 Bonson Block, LLC - 356 Main Street O Theisen Supply O Hunter Equity, LLC (Fed -Ex) O Rousselot O Rainbo Oil Co. O Weaver Castle, LLC - 407 -409 Loras Blvd. 4 - Enterprise Zone Applications Wilmac Property Company (Betty Building) O St Mary's Condominiums, LLC <>Weaver Castle, LLC <>Rousselot, Inc. Successful State Assistance Application Grants • Green Industrial Supply, Inc. (IVF -HQJP) • A.Y. McDonald Mfg. Co. (IVF) • Heartland Financial USA, Inc. (IVF) Downtown Housing Incentive Projects Completed 5 - Agreements Plastic Center, Inc. - • 426 -428 W 5th Street • 951 -957 Main • Caradco Landlord, LLC - 900 Jackson St • Franklin Investments, LLC - 39 Bluff St • Bonson Block, LLC - 356 Main St. O Nottingham Properties - 485 Locust wire Downtown Rehabilitation Loan Program Funding Schedule Proposed Schedule • 900 Main Street FY2013 • 1000 Jackson Street FY2014 • Hotel Julien FY2016 • 1005 Main Street FY2018 • 756 Main Street FY2020 • 44 Main Street FY2022 • 900 Jackson Street FY2024 • 39 Bluff Street FY2025 • 1132 -6 Locust FY2026 Washington Neighborhood Facade Grant < $225,000 available *Began taking applications in November *Commercial properties only *Emphasis on Central Avenue corridor Port of Dubuque Flexsteel Expansion Ribbon Cutting 40,000 square foot facility $9 million investment Create 10 new jobs Retain 101 jobs uotsurdxa jaaisxajj Dubuque Industrial Center North Expansion itAit Tri-State Industries �s FIJI, Inc & Automated Presort, Inc Oral Arts stribunon Center Inc Arts-way Vanguard,: Vessel Inc Kendull.Hunt ai�t. s Publishing Company Green Industrial Supply, Inc. Formerly located at 10467 Route 52 N • 140,000 square foot facility • $8,500,000 investment Create 17 new jobs Retain 41 jobs IWI Motorparts Formerly located at 155 N Crescent Rdg • 65,000 square foot facility • $2,500,000 investment • Create io new jobs • Retain 41 jobs Hunter Equity, LLC (Fed-Ex) • 80,000 square foot construction 4 $2,500,000 investment Theisen Expansion Located in the Dubuque Industrial Center O 80,000 square foot expansion O $2,000,000 investment O Create 10 new jobs O Retain 77 jobs Development Agreement Totals O 387 Retained Jobs • 37 New Jobs O 12 Downtown Residential Units 070 Assisted Living Units O Over $40 million Capital Investment 0.$120,250 Annual Lease Revenue Riverfront Lease Renewals Flint Hills Resources Pine Bend, LLC March, 2012 20.09 acres • 10 year renewal • $12,500 monthly fee until Renewal date - April 1, 2014 • Increased annual revenue - $669,800 • Plus, Flint Hills pays property taxes and dredging costs Strong Urban Core Historic Millwork District Streets 4$5.6 million TIGER Grant 4$7.9 million total project *Complete Streets' Design "The most sustainable building is the one that is already built." Richard Moe, President National Trust for Historic Preservation SUSTAINABLE DUBUQUE viable - livable • equitable Historic Millwork Master Plan Over 1 million sq. ft. 732 Housing Units 351,000 s.f. commercial /retail Caradco Building Project City Incentive TIF Facade, Design, Financial Consultant Grants Downtown Housing Grants O Federal and State Historic Tax Credits *Iowa Finance Authority *CDBG • ew Market Tax Credits *Brownfield Tax Credits *Enterprise Zone Benefits 11! .1112212221i *-‘rt, Ivo it m Caradco Building Project • 900 Jackson Street • 72 residential units • 35,000 square -feet of first -floor commercial 416,000 square -feet of lower level space for community betterment projects __w IiaMin eia re in • li n 1 Caradco Building Project r� Caradco Buildin: Project LMESTONE AL,AINING WALL AND BLUR Engine House #1 sOACAlboI P o o r IaEc nun. ["FO[ CAR I wT I mrmc nn.e4xoor Imeru *Partnership with DB &T Community Development Corp NEW CONSTRUCTION SOUTH ELEVATION SCALE'. I/4' =FAY $2.2 million rehabilitation ,-. , �Cw..00.:: �" no. -" 1 LJ of •µ .1 es or�1 �1 11 re.a rl_l1' v. o s. 11 o 11 11 r .., ..�, ��, ®mom ENGINE �n HOUSE N9 a� o.,-- _ -n� e= x n I �, o I =� C �� _ _ n�� L =� II�m�I T — e � r�� ' I x n NEW CONSTRUCTION SOUTH ELEVATION SCALE'. I/4' =FAY $2.2 million rehabilitation Engine House #1 O Crescent Community Health Center *Operation New View Dubuque Industrial Center South Purchased 170 acre farm in 1997 for future expansion Grading and Infrastructure - Completed in 2013 4.8 Million investment Dubuque Industrial Center South South Siegert Farm Expansion Dubuque Wins Top Workforce Development Honors by Mid- American Economic Development Council Greater Dubuque Development "Best Overall Business Retention and Expansion Program" from Professional Developers of Iowa (PDI) Greater Dubuque Development survey: • 43% of area businesses plan to expand • 62% are gaining market share • Positive perception of Dubuque economy • Approval of local leadership and public /private cooperation Iowa Job Growth: 1982-2012 19,700 188,000 = Iowa Net Job Total Dubuque Net Job Total Dubuque County created 10.4% of Iowa's job growth. Job Growth - 2010-2012 (3 years) Dubuque - 21.1% of all new jobs in Iowa Total Net New Jobs in Iowa (13,70o) • Remainder of the State (io,800 jobs) Dubuque (2,900 jobs) Future Endeavors *Acquisition of additional Industrial Park Property OImplement incentive program for commercial ventures in Washington Neighborhood *Continue to work with Dubuque Initiatives *Continue regional economic development and marketing initiatives (Partnerships) Future Endeavors Improve Transit Model Intermodal Facility Historic Millwork District Downtown /Grants Downtown housing Passenger Rail Redevelopment of South Port Riverfront Property Marketing Riverfront Property Dubuque has 65 acres of prime riverfront property Riverfront Property Availability by Year Available a 2821 a 2018 2022 2024 a 2038 Legislative Concerns O Tax Increment Financing (TIF) 4 Impact of Property Tax Reform Funding for Incentive Programs Downtown Rehabilitation Loan Program $300,000 Downtown Housing Incentive Program $27,460 Dubuque Initiatives • Staff Support to Nine Member Board Ownership of Historic Roshek Building Tenant Development Financial Oversight • Additional Land Inventory 2459 Kerper Boulevard (Advanced Urethane Technologies) Lot 3 - Dubuque Industrial Center Contracted Services Dubuque Area Chamber of Commerce: $916,322 Dubuque Area Labor Management Council: $30,000 Dubuque Main Street: $74,276 Washington Neighborhood Development Corporation: $75,000 Greater Dubuque Development Corporation: $586,613 *Prosperity Eastern Iowa: $2,500 *Project Hope: $70,703 Economic Development Department David Heiar Economic Development Director Aaron DeJong Assistant Economic Development Director Brenda Fuglsang Confidential Account Clerk Economic Development Department David Heiar Economic Development Director Phil Wagner Assistant Economic Development Director Brenda Fuglsang Confidential Account Clerk Economic Development Department David Heiar Economic Development Director Phil Wagner Assistant Economic Development Director Christy Kelley Confidential Account Clerk