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Minutes Enterprise Zone Com. 5 24 06 ENTERPRISE ZONE COMMISSION City of Dubuque, Iowa MINUTES DATE: May 24, 2006 TIME: 4:00 P.M. PLACE: Conference Room B, City Hall 50 West 13th Street, Dubuque, Iowa 52001 COMMISSION: Present: Doug Buswell, Doug Stillings, Rick Stein, Kelley Deutmeyer, Dan LoBianco, Eileen LeMay, Dan White, and Mike Van Milligen Absent: Dave Baker STAFF: David Heiar OTHERS: Bud Isenhart CALL TO ORDER The meeting was called to order at 4:00 p.m. Staff certified that the meeting was being held in compliance with the Iowa Open Meetings Law. MINUTES White moved and Buswell seconded a motion to approve the minutes of April 5, 2006. Motion passed unanimously. APPLICATIONS Step By SteP. Inc. Sara Davidson presented a power point presentation which provided a visual concept of the proposed project. The project will include purchase of a historic building at 759 Bluff Street by Step by Step, Inc. a newly incorporated non-profit advocacy agency, and conversion of the property into 7 one bedroom apartments for women with physical disabilities, at an approximate total cost of $1.1 million. All residents will be Section 8 Program participants; they will manage the building. A large common kitchen and dining area will provide shared facilities promoting a 'communally supportive' environment. A central elevator and roll-in showers in all units will allow for full accessibility for the residents. Units will vary in size from 450-500 square feet, with small, galley type kitchens and private baths with 5 foot roll in showers. The building will have a central geo-thermal heating/cooling system, providing for energy-efficiency. All lead-based paint will be removed. All exterior features and as many interior features as possible will be preserved. Storage units and common laundry facilities will be located in the basement. David Harris, Director of City of Dubuque Housing and Community Development, reviewed the project costs and anticipated revenue sources, summarized as follows; Description of Capital Expenditures Purchase Rehabilitation/Conversion Total Amount $172,000 $992,000 $1,164,000 Source of Proiect Financina City Rental Rehab Program City CDBG Rehab Program City HOME Rehab Program FHLB Affordable Housing Rental Program Federal Historic Tax Credit Iowa Historic Credit Enterprise Credit Total Amount $100,000 $108,500 $350,000 $210,000 $158,500 $172,500 $64,500 $1,164,000 Harris noted that Enterprise Zone benefits anticipated with this project could include approximately $64,500 as an Enterprise Credit and $53,000 as a State Sales and Use Tax Credit. A fifteen year pro-forma was submitted to the State as part of this application. When asked by the Commission how this project would benefit the larger community (not just the seven persons living in the house), Davidson noted that this project would increase awareness that historic preservation can be accomplished in a project that also assists disabled individuals. City Manager Van Milligen indicated that he sees this project as a National demonstration project that will show others that it is possible to assist persons with disabilities while also preserving the historical integrity of the rehabilitation project. According to Davidson, the home will be managed cooperatively, with the residents working together to manage the day to day operations. Ultimately, there will be a Board of Directors to oversee the operations of the home. The unique management concept will also be a model or prototype for further projects. Stillings stated that he sees this as an exciting project for the community. Previously, the Maria House was the unique model developed in Dubuque. This project will become yet another great model. The Chair asked for public comments. Bud Isenhart voiced his approval of the project stating that he thought that programs which will allow people to live independently, are good community investments. Motion by White, second by Van Milligen, to authorize the resolution approving the application. The following vote was taken: Aye: LeMay, Buswell, Deutmeyer, LoBianco, Stein, Stillings, Van Milligen, and White Nay: None Abstain: None ITEMS FROM COMMISSION Commissioners discussed the reappointment of the 3 at-large members. Motion by Van Milligen, second by Deutmeyer to reappoint Stillings, Buswell, and Stein. Aye: Lemay, Deutmeyer, LoBianco, Van Milligen, White Nay: None Abstain: Buswell, Stillings, and Stein The Commission reminded staff of their request to have an electronic version of the EZ district map. ADJOURNMENT Meeting adjourned at 4:40 p.m. Respectfully submitted David J. H . r, Economic Development Director Approved Chairperson F:IUSERSlAdejongIPMyhreIWPDOCSIEZ\MinutesIMIN 5-24-06.doc