CEBA Complete Cottingham/Butler
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April 27, 2006
The Honorable Roy Buol
Mayor, City of Dubuque
City Hall. 50 w 13th Street
Dubuque, IA 52001
RE: Comm\lllity Economic Bcttr:nnent Acco1lIlt (CEBA) Program
Contract Project Number 99-CEBA-025 with CottinghamlButicr Ins. Svcs.
Dear Mayor Buol:
h is my pleasure to cangratulate you on the successful completion of the above-captioned
project. The Department's review of this project indicates that the activities requiIed by
the CEBA Agreement have been completed and have met or exceeded cxpectati<?DS.
Since these project activities have been completed and verified, the Department has
closed the task portion of the project and hereby forgives the forgivable loan portion of
the CEBA award in the amount of 545,000.00.
The forgiven loan amoWlt may be considered taxable income. Any questions you have
conceming the tax implications of the loan should be directed to Donald Cooper at the
Iowa Department of Revenue and Finance, Division ofComplianee at 51S/281-8450.
We would like to express our thanks to your COUUIJUIIity development staff and the
Busines& for their help in administering and closinS out this project. We look forward to
working with you on ftnure economic development projects. Please do not hesitate to
call if you have any questions.
Sincerely,
~ I~ ~ f _
Teny!.Ro~
Division Administrator
c: IDEO Business FinInce
Brenda Hoefler, Cottiogbam & Butler Ins. Svc. Inc.
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IOWA DEPAIITMEIT OF ECOIOMlC DEVElDPUENT
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