IDED McGraw Hill Companies & Kunke, Bounds, Assoc._Funding Correspondence
April 26, 2006
Mr. Ed Stanford, President
McGraw-Hili/Irwin
1333 Burr Ridge Parkway
Burr Ridge, Illinois 60527
RE: Financial Assistance Program Awards
Award Date: April 20, 2006
Contract #: P0506M00834
Dear Mr. Stanford:
I am pleased to inform you that the Iowa Department of Economic Development has awarded
McGraw-Hili Higher Education Division the following financial assistance for your project in
Dubuque, Iowa:
Physical Infrastructure Assistance Program (PIAP)
($900,000 Forgivable loan, $100,000 Loan)
Enterprise Zone (EZ) - estimated value
$1,000,000
$3,244,070
Attachlod you will find a Sales and Use Tax Refund informational sheet describing the required
forms lor the tax credit program. In a few weeks, our office will send you the necessary contract
documents to finalize the terms and conditions of your company's participation in these financial
assistance award programs. The contract documents must be signed by authorized
representatives of McGraw-Hili Higher Education Division, the City of Dubuque, and IDED.
The Iowa Department of Economic Development looks forward to working with McGraw-Hili
Higher Education Division and the City of Dubuque on this important economic development
project. We are very pleased that you have chosen to make such a significant investment in
Iowa. Should you have any questions regarding this award, please contact your project
manager, Paul Stueckradt at 515/242 4897.
Sincerely,
)lL.dJlA,x-1 t1 AIIIIN"A~
Mary Law..jdr vvv v v "()~ ,
Director
ML/mm
cc:
Senator Michael Connolly
Representative Pat Murphy
Mayor Roy Buol, City of Dubuque
IDEO
Representative Pam Jochum
Margret De Wald, McGraw-Hili Higher Education
Robert Herman, Duff & Phelps, LLC
IOWA DEPARTMENT OF ECONOMIC DEVELOPMENT
Mary Lawyer, Director . 200 East Grand Avenue, Des Moines, Iowa 50309 USA. Phone: 515.242.4700 . Fax: 515.242.4809 . www.iowalifechanging.com
IOWA Efcr`bMIC DEVELOPMENT AUTHORITY
200 East Grand Avenue 1 Des Moines, Iowa 50309 USA 1 Phone: 515.725.3000
iowaeconomicdevelopment.com
December 11, 2017
Mr. Matthew Klaskin, Real Estate Services Manager
McGraw-Hill Education
2 Penn Plaza, 20th Floor
New York, NY 10121
RE:
Notice of Full Default
Contract Number P0506M00834
Funding Agreement 06 -EZ -029
Dear Mr. Klaskin:
i 1ECE ..D
I )WA
economic development
17 DEC 114 PM I:42
City Dark's s Office
e.tklfiid1Returihi Receipt Request
NOTICE OF DEFAULT -
UNABLE TO CURE
Based on review of the 2017 Annual Status Report, IEDA has determined that an Event of
Default has occurred due to the failure by McGraw Hill Higher Education•Division to maintain the
job creation requirements of the above -referenced Contract.
The business was required to create 24 full-time equivalent (FTE) qualified jobs above a base
employment of 276. The 2017 Annual Status Report showed 279 total FTE jobs.
Since the business is unable to cure this default, the company will be required to fully repay the
tax credit benefits per 5.3(a)(iv) of the EZ Funding Agreement. A copy of this Notice will be.
provided to the Iowa Department of Revenue (IDR) since it is the state agency authorized to
collect tax credit benefits that have been claimed. The method,'amount and schedule of
repayment will be determined by the IDR.
Should you have any questions, please feel free to contact Lisa Connell at 515-348-6163 or
lisa.connell@iowaeda.com.
Sincerely,
Jennifer Klein
Gener; Counsel
cc: IEDA Accounting File
IEDA Compliance File
Mayor Roy D. Buol, City of Dubuque
Jennifer Tilkes, Iowa Department of Revenue
Governor Kim Reynolds 1 Lt. Governor Adam Gregg 1 Director Debi V. Durham
April 26, 2006
Mr. Timothy J. Kunkel, President
Kunkel, Bounds & Associates, Inc.
203 High Street
Mineral Point, WI 53565
RE: Financial Assistance Program Awards
Award Date: April 20, 2006
Contract #: P0603M00866
Dear Mr. Kunkel:
I am pleased to inform you that the Iowa Department of Economic Development has awarded
Kunkel, Bounds & Associates, Inc. the following financial assistance for your project in Dubuque,
Iowa:
Community Economic Betterment Account (CEBA)
$37,500 Loan, $37,500 Forgivable Loan
High Quality Job Creation (HQJC) - estimated value
$75,000
$97,850
Attached you will find a Sales and Use Tax Refund informational sheet describing the required
forms for the tax credit program. In a few weeks, our office will send you the necessary contract
documents to finalize the terms and conditions of your company's participation in these financial
assistance award programs. The contract documents must be signed by authorized
representatives of Kunkel, Bounds & Associates, Inc., the City of Dubuque, and IDED.
The Iowa Department of Economic Development looks forward to working with Kunkel, Bounds &
Associates, Inc. and the City of Dubuque on this important economic development project. We are
very pleased that you have chosen to make such a significant investment in Iowa. Should you
have any questions regarding this award, please contact your project manager, Julie Cooper at
515/242-4872.
Sincerely,
~~ (AM;~f1.
Director
MUmm
cc: Senator Michael Connelly
Representative Pat Murphy
David Heiar, City of Dubuque
Representative Pam Jochum
Mayor Roy Buol, City of Dubuque
IDEO
IOWA DEPARTMENT OF ECONOMIC DEVELOPMENT
Mary Lawyer, Director . 200 East Grand Avenue, Des Moines, Iowa 50309 USA . Phone: 515.242.4700 . Fax: 515.242.4909 . www.iowaltlechanging.com