Step by Step Hsg Enterprise Zone App
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MEMORANDUM
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July 10, 2006
TO:
The Honorable Mayor and City Council Members
FROM:
Michael C. Van Milligen, City Manager
SUBJECT: Housing Enterprise Zone Application for Step by Step, Inc.
On May 24, 2006, the City Enterprise Zone Commission approved an application to the
Iowa Department of Economic Development (IDEO) on behalf of Step by Step, Inc. for
Housing Enterprise Zone benefits related to the rehabilitation of an historic building
located at 759 Bluff Street to accommodate seven 1-bedroom apartments for women
with physical disabilities.
Economic Development Director David Heiar recommends City Council approval of a
Housing Enterprise Zone Program Application to IDEO for the Step by Step, Inc. project.
There is no additional commitment within the agreement of any further City assistance.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
(11J ~~ ~
Michael C. Van M~ligen
MCVM/jh
Attachment
cc: Barry Lindahl, Corporation Counsel
Cindy Steinhauser, Assistant City Manager
David Heiar, Economic Development Director
David Harris, Housing and Community Development Department Director
CITY OF DUBUQUE, IOWA
MEMORANDUM
July 6, 2006
TO: Michael Van Milligen, City Manager
FROM: David Heiar, Economic Development Directo~ ~
SUBJECT: Housing Enterprise Zone Application for Step by Step, inc.
iNTRODUCTiON
This memorandum presents for City Council approval a Housing Enterprise Zone Program
Application to the Iowa Department of Economic Development (IDEO), for the Step by Step,
Inc. project. The City Council is requested to adopt a resolution approving the application
and contract.
BACKGROUND
On May 24, 2006, the City Enterprise Zone Commission approved an application to IDEO on
behalf of Step by Step, Inc. for Housing Enterprise Zone benefits related to the rehabilitation
of an historic building located at 759 Bluff Street to accommodate 7 one bedroom
apartments for women with physical disabilities. The application was submitted to IDEO on
July 6.
DISCUSSION
Attached to this memorandum is a resolution that provides for the approval of the application
(also attached) for Housing Enterprise Zone benefits for the project. The resolution
authorizes and directs the Mayor to execute an agreement on behalf of the City. The
agreement will oulline the State benefits that will accrue to the housing developer.
The project will provide 7 new housing units in a historic building on Bluff Street and have an
estimated capital investment of $1,164,000 in Enterprise Zone 1. The project has already
received a $350,000 financial commitment from the HOME rehabilitation program.
RECOMMENDATiON
I recommend that the City Council approve the attached Housing Enterprise Zone Program
application for Community Housing Initiatives for the Step by Step, Inc. project by adopting
the attached resolution. There is no additional commitment within the agreement of any
further City assistance.
ACTION STEP
The action step for the Council is to adopt the attached resolution.
attachments
F:\USERS\DHeiar\Enterprise Zone\EZ Step by Step Council memo.doc
RESOLUTION NO. 318-06
RESOLUTION APPROVING A HOUSING ENTERPRISE ZONE PROGRAM
APPLICATION TO THE IOWA DEPARTMENT OF ECONOMIC DEVELOPMENT FOR
THE STEP BY STEP INC. PROJECT.
Whereas, the City of Dubuque has established two Enterprise Zones and an
Enterprise Zone Commission; and
Whereas, the Enterprise Zone Commission on May 24, 2006 approved the
application of Step by Step, Inc. for Housing Enterprise Zone benefits for the 759 Bluff
Street project; and
Whereas, Community Housing Initiatives' application for the Step by Step, Inc.
project was submitted to the Iowa Department of Economic Development on July 6,2006;
and
Whereas, the Iowa Department of Economic Development will prepare an
agreement relating to Housing Enterprise Zone benefits for Step by Step, Inc. (759 Bluff
Street); and
Whereas, the City Council finds that the proposed application is acceptable and
necessary to the growth and development of the city.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
DUBUQUE, IOWA:
Section 1. That a Housing Enterprise Zone Program Agreement with the Iowa
Department of Economic Development is hereby approved.
Section 2. That the Mayor is hereby authorized and directed to execute an
Agreement on behalf of the City of Dubuque and forward the
executed copy to the Iowa Department of Economic Development for
their approval.
Passed, approved and adopted this 17th day of July, 2006.
Roy D. Buol, Mayor
Attest: Jeanne F. Schneider, City Clerk
F:\USERS\DHeiar\Enterprise Zone\Step by Step Inc Council Resolution.doc
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THE CITY OF C____
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Economic Development Department
City Hall - Second Floor
50 West 13th Street
Dubuque, Iowa 52001-4864
(563) 589-4393 office
(563) 589-1733 fax
(563) 690-6678 TDD
~~~
July 5, 2006
Kent Powell
Housing Fund Compliance Specialist
Iowa Department of Economic Development
200 East Grand Avenue
Des Moines, Iowa 50309
RE: EZ Application/Step by Step, Inc.
Dear Mr. Powell:
Enclosed please find an EZ Housing Development Application from Step by Step, Inc.
The City of Dubuque Enterprise Zone Commission met on May 24, 2006 and approved
the submittal of this application. A signed resolution is attached along with minutes and
agenda from the meeting.
As per our telephone conversation, I apologize for the delay in submitting this
application. I would appreciate your immediate attention to this application.
Please call with any questions.
Sincerely,
~.
David J. Heiar ~
Staff to the Enterprise Zone Commission
Economic Development Director
Attachments
Service
People
Integrity
Responsibility
Innovation
Teamwork
IOWA DEPARTMENT OF ECONOMIC DEVELOPMENT
'.
APPLICA TION for ENTERPRISE ZONE BENEFITS
Housing Development
Iowa Department of Economic Development
Division of Community Development
200 East Grand Avenue
Des Moines, Iowa 50309
FEBRUARY 2006
INTENT: The Enterprise Zone Program was established by the Iowa Legislature with the intent of promoting
new economic development in economically distressed areas of Iowa by encouraging communities to target
resources in ways that attract productive private investment.
PROJECT INITIATION: Projects that have already been initiated before receiving formal application approval
by the Iowa Department of Economic Development shall not be eligible for tax incentives and assistance under
this program.
"Project initiation" means anyone of the following: the start of construction of new or expanded buildings; the
start of rehabilitation of existing buildings; the purchase or leasing of existing buildings; or the installation of new
machinery and equipment or new computers to be used in the operation of the business' project. The purchase of
land or signing an option to purchase land or earth moving or other site development activities not involving
actual building construction, expansion or rehabilitation shall not constitute project initiation.
GENERAL INSTRUCTIONS
I. If more than six months has elapsed since the date on the front of this application, please contact IDED to see
if this version of the application is still current.
2. Before filling out this application form, please read Iowa Code Sections l5E.19l through l5E.l96, as
amended and the Enterprise Zone administrative rules.
3. Only tvoed or comouter-generated applications will be accepted and reviewed. (Contact the IDED to have an
electronic copy of this application e-mailed to you.) Anv material change to the format. auestions or wording
of auestions oresented in this aoolication. will render the aoolication invalid and will not be accepted.
4. Complete the application fully; if any questions are left unanswered or required attachments are not
submitted, an explanation must be included.
5. Use clear and concise language. Attachments should only be used when requested or as supporting
documentation.
6. Any inaccurate information of a significant nature may disqualify the application from consideration.
7. Send the original plus two copies of the completed application form and all required attachments to:
Kent Powell
Housing Fund Compliance Specialist
Iowa Department of Economic Development
200 East Grand Avenue
Des Moines, Iowa 50309
Phone: (515)242-4786
Fax: (515) 242-4809
E-mail: kent.powell@iowalifechanging.com
It is not necessary to bind the application and/or the required attachments. Staples and/or binder clips may
be utilized. Please provide photocopies of any documents, which in their original form, ID ED would not be
able to 2-hole punch for purposes of creating the applicant's file.
1
February 2006
PUBLlC RECORDS POLICIES
The Iowa Department of Economic Development (IDEO) is subject to the Open Records law (2001 Iowa Code,
Chapter 22). Treatment of information submitted to IDEO in an Enterprise Zone application is governed by the
provisions of the Open Records law. All public records are available for public inspection. Some public records
are considered confidential and will not be disclosed to the public unless ordered by a court, the lawful custodian
of the record, or by another person duly authorized to release the information. Copies of Iowa's Open Records
law and IDEO's administrative rules relating to public records are available from the Department upon request.
APPLICANT INFORMATION
Name of Housing Business: Step By Step Inc.
Contact Name & Title: Sarah Davidson, President
Address: 125 West 9th Street
City, State & Zip Code: Dubuque, IA 52001
Telephone: (563) 583-8513
Fax:
E-mail Address:sarahdavidson@.mchsi.com
Taxpayer Identification No.:
Local Enterprise Zone Commission
Enterprise Zone Commission Name: Dubuque Enterprise Zone Commission
Contact Name & Title: David Heiar, Director, Economic Development Dept.
Organization: City of Dubuque
Address: 50 W. 13th Street
City, State & Zip Code: Dubuque, IA 52001
Telephone: (563) 589-4105
Fax: (563) 589-1733
E-mail Address: dheiar@citvofdubuoue.org
2
February 2006
CERTIFICATION & RELEASE OF INFORMATION
I, the undersigned, on behalf of the Housing Business identified above, hereby submit the following application
under Iowa Code Sections 15E.191 through 15E.l96. I certify that the Housing Business is in good standing, and
has complied or will upon receipt of approval by the Department, with all applicable laws of the State of Iowa to
conduct business within the State. I certify that all information, representations, or statements provided to the
Iowa Department of Economic Development (IDED), in connection with this application, are true and correct in
all material respects.
I certify and understand that in order to receive benefits under the Enterprise Zone Program that the project
described in this application has not been initiated and that the project will not be initiated until the business
receives final approval of this application from the IDED.
I hereby give permission to IDED to make credit checks, contact the company's financial institution(s), and
perform other related activities necessary for reasonable evaluation of this application.
I understand this application is subject to final approval by the Department and am aware that Enterprise Zone
benefits are not available until final Department approval is secured and an agreement is executed with the
Housing Business, IDED and the Community, within a reasonable time period following approval. This
application will be used as the basis for the Enterprise Zone agreement.
For the Housing Business:
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Signature, Title
Sarah Davidson. President
Print name and title
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Date
For the Enterprise Zone Commission:
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3
February 2006
APPLICATION INFORMATION
1. Please provide a brief description of the proposed housing development project.
The project will include purchase of an historic building at 759 Bluff Street by Step by Step, 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
accessihility for the residents.
2. In which Enterprise Zone will this project occur (include the zone's name, number, size in acres, and date
certified)?
Zone EZ-l, 1012 Acres, certified (amended) 17 July 2000
3. Does the project involve new construction or rehabilitation?
Rehabilitation of existing building
4. How many single-family homes or multi-family units are proposed?
7 one-bedroom rental units
5. What will be the per unit value of the housing?
Appraised per-unit value will be approximately $45,000
6. The single family homes or multi-family units being constructed or rehabilitated must be modest homes
or units and include the necessary amenities. Please explain how the proposed project will satisfy this
requirement?
The building will be converted into 7 one-bedroom units. An '8th unit' will become the communal
kitchen-dining area. 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.
7. Will the project meet U.S. Department of Housing and Urban Development Housing Standards and
applicable local codes?
The project will meet City of Dubuque building and housing codes, as well as comply with HUD
Section 8 and HOME Program requirements.
8. What is the current status of the project? When is construction scheduled to begin? What is the
anticipated project completion date?
Step by Step has secured a purchase option. The City of Dubuque has successfully applied for a
$350,000 HOME Program grant for the project, from IDED. The City has additionally committed
$208,000 in RRP and CDBG financing. An application is now being prepared for submission to the
Des Moines Federal Home Loan Bank's Affordable Housing Program, in the amount of $210,000.
4
February 2006
Partnership agreements have been prepared to form an LLC, for the purpose of obtaining
investment partners through the Federal and Iowa Historic Rehabilitation Tax Credit programs
and the Iowa Enterprise Tax Credit program.
9. Attach a legal description of the business site on which the project will occur.
Lot 5 of City Lot 653A and Lot 4-1 of City Lot 653 and the South 45 feet of Lot 2 ofMC, City of
Dubuque Iowa.
10. Attach a detailed map (no larger than 8" x 14") showing the housing development site in relation to the
boundaries of the certified Enterprise Zone.
11. Is any part of the project located in a 1 DO-year flood plain?
No
12. Please indicate the total capital investment that will be made as the result of this project?
Description of Capital Exnenditure
Purchase
Rehabilitation/Conversion
Amount
$ 172,000
$ 992,000
$
$
$
Total $1,164,000
13. Please identify the sources of project financing that will be utilized and the amount of the financing. (The
total amount of the financing should equal the total expenditures in Question #12.)
Source of Proiect FinanciDl!
City Rental Rehab Program
City CDBG Rehab Program
City HOME Rehab Program
FHLB Affordable Housing Rental
Pro ram
Federal Historic Tax Credit
Iowa Historic Credit
Enterprise Credit
Amount
$ 100,000
$ 108,500
$ 350,000
$ 210,000
$ 158,500
$ 172,500
$ 64,500
$1,164,000
Total
14. For purposes of determining the amount of investment tax credits the housing business may receive, the
Iowa Department of Economic Development cannot include capital expenditures financed through
federal, state, and local government tax credits, grants and forgivable loans. Based on this information,
what portion of your total capital investment (identified in Question # 12) will be eligible for the
investment tax credit?
$833,000
5
February 2006
15. Please attach a long-term plan for the proposed housing development project including labor and
infrastructure needs.
The project will be a permanently-affordable home to women with physical disabilities,
owned by Step by Step, a non-profit advocacy organization. HUD's Section S rental assistance
program will provide the majority of the rental revenues; this program is administered
through the City's Housing and Community Development Department.
16. What economic benefits will the project bring to the area?
The project will restore a substantial turn-of-the-century historic building, with a $992,000
rehabilitation and modernization reinvestment. The six-month construction period will provide a
number of temporary jobs.
In addition, we have been in discussions with the CEO of Woodward Communications, about a
shared geo-thermal heating and cooling system for this facility. The building is located adjacent to
the TH-Woodward parking lot at the corner ofSth and Bluff Streets. We are currently researching
the feasibility of installing wells in this parking lot, which would furnish the water supply for the
geo-thermal system. This could serve the project facility, the Telegraph Herald building and the
KDTH building. A feasibility study proposal is now being prepared by Durrant for this purpose.
This could provide significant economic benefit both to the project and to a major downtown
employer, through long-term reduced energy use costs.
17. Explain why the proposed project would be considered a good housing development project.
The project is a needed housing facility for physically-disabled persons. Housing of this type is in
short supply in Dubuque. 2000 Census data relates that more than 2000 disabled women aged IS-
64 currently reside in the City of Dubuque.
An important associated benefit ofthis project is the intent to create a Dubuque 'center for
independent living.' Currently, a State-wide network of seven CILs exists; Dubuque's would join
that network, and serve as a center of advocacy, referral and public education around issues of
disability. Step by Step has been incorporated for that purpose.
18. Please attach an affidavit that states the Housing Business has not, within the last five years, violated state
or federal environmental and worker safety statutes, rules, and regulations or, if such violations have
occurred, that there were mitigating circumstances or such violations did not seriously affect public health
or safety or the environment.
19. Explain why Enterprise Zone Benefits are needed in order for the project to proceed.
All funds for purchase and rehabilitation of this structure are being raised through State and
federal grants and tax credits. Given the low rents, it is not feasible to support long-term debt
through project revenues. The requested Enterprise benefits are a critical part of the capital
funding needed to accomplish this project.
20. Please indicate the amount of Enterprise Zone tax benefits being requested for this project.
State Sales, Service, and Use Tax Refund:
$53.000
$64.500
Investment Tax Credit:
6
February 2006
21. Please list any additional requirements adopted by the local Enterprise Zone Commission and explain
how the Housing Business will meet each requirement.
7
February 2006
ATTACHMENTS
Please make sure the fonowing items are induded with this application:
Housing Business:
iJ Legal description of the business site on which the project will occur. (induded in response to #9)
Il9 Detailed map (no larger than 8" x 14") showing the business site in relation to the boundaries ofthe certified
Enterprise Zone.
iJ Long term strategic plan, which indudes labor and infrastructure needs. (induded in response to #5)
Il9 Affidavit that states the Business has not, within the last 5 years, violated state or federal environmental and
worker safety statutes, rules, and regulations.
Enterprise Zone Commission:
Il9 Resolution by the Enterprise Zone Commission approving this application.
Il9 Proof that the meeting, in which this application was approved, was open to the public (i.e. public notice
which was published and/or posted).
Il9 Meeting minutes from the meeting, in which this application was approved.
7
February 2006
Affidavit
This signifies that Step by Step, a recently incorporated Iowa not-for-profit, has
not within the last five years nor at any previous time violated state or federal
environmental and worker safety statutes, rules, and regulations.
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Sarah Davidson, President
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Attest:
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David Harris, Director
Housing & Community Development Dept
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City of Dubuque
PUBLIC NOTICE OF MEETING
ENTERPRISE ZONE COMMISSION
DATE:
TIME:
PLACE:
Wednesday, May 24,2006
4:00 p.m.
Conference Room e, City Hall
50 W. 13th Street
Dubuque, Iowa 52001
Notice is hereby given 1M! the above identified governmental body WIll meet at the time. date and place as set
forth above,
The tentative agenda for the meeting is as folio..",.:
CAll TO ORDER
AFFIDAVIT OF COMPLIANCE
MINUTES
April 5, 2006
APPLICATIONS
C\~_... o~~ ~..._... I....""
City of Dubuque
PUBLIC NOTICE OF MEETING
ENTERPRISE ZONE COMMISSION
DATE:
TIME:
PLACE:
Wednesday, May 24,2006
4:00 p.m.
Conference Room B, City Hall
50 W. 13th Street
Dubuque, Iowa 52001
Notice is hereby given that the above identified governmental body will meet at the time, date and place as set
forth above.
The tentative agenda for the meeting is as follows:
CALL TO ORDER
AFFIDAVIT OF COMPLIANCE
MINUTES
April 5, 2006
APPLICATIONS
Step By Step, Inc.
ITEMS FROM PUBLIC
ITEMS FROM COMMISSION
ITEMS FROM STAFF
ADJOURNMENT
This notice is given pursuant to Chapter 21, Code of Iowa and applicable local regulations of the City of
Dubuque and/or the govemmental body holding the meeting.
NOTICE
Visually or hearing impaired persons needing assistance or persons with special accessibility needs who
wish to attend the meeting should contact the ED Department at (563) 589-4393 or the Human Rights
Department at (563)589-4193 (TDD Number) at least forty-eight (48) hours prior to the meeting.
F:\USERSIPMyhre\WPDOCS\EZlAgendasIAGENDA 5-24-06.doc
. .
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 Bv 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;
Total
Amount
$172,000
$992,000
$1,164,000
Description of Capital Expenditures
Purchase
Rehabilitation/Conversion
Total
Amount
$100,000
$108,500
$350,000
$210,000
$158,500
$172,500
$64,500
$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
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
iar, Economic Development Director
Approved
Chairperson
F :IUSERSlAdejongIPMyhreIWPDOCSIEZ\MinutesIMIN 5-24-06.doc
CITY OF DUBUQUE, IOWA
ENTERPRISE ZONE COMMISSION
..
RESOLUTION 2-06
A RESOLUTION APPROVING THE FILING OF AN APPLICATION WITH THE
IOWA DEPARTMENT OF ECONOMIC DEVELOPMENT REQUESTING
ENTERPRISE ZONE BENEFITS ON BEHALF OF STEP BY STEP INC.
Whereas, the State of Iowa Department of Economic Development (IDEO) is
accepting applications from eligible businesses pursuant to the authority of House File
724, Enterprise Zone Legislation; and
Whereas, the City of Dubuque, Iowa has two certified Enterprise Zones; and
Whereas, the City's Enterprise Zone Commission has been created by City
Ordinance to review applications for tax incentives and assistance based on criteria
specified by law and to transmit its recommendation to the IDEO; and
Whereas, the City's Enterprise Zone Commission has reviewed an application
from Step by Step, Inc. and has found the housing developer eligible to apply for
Enterprise Zone benefits.
NOW, THEREFORE, BE IT RESOLVED BY THE ENTERPRISE ZONE
COMMISSION OF THE CITY OF DUBUQUE, IOWA:
Section 1. That the Step by Step, Inc. application for Enterprise Zone benefits
is approved.
Section 2. That Step by Step, Inc. will create seven (7) new housing units in
the city's downtown.
Section 3. That Step by Step, Inc. will invest approximately $1,164,000 in
Enterprise Zone 1 as part of the historic renovation project.
Section 3. That the Chairperson is hereby authorized and directed to execute,
on behalf of the Enterprise Zone Commission, the joint application for Enterprise Zone
benefits.
Passed, approved and adopted this 24th day of May 2006.
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Richard Stein
Chair
F:\USERS\DHeiar\Enterprise Zone\Step by Step Inc resolution.doc