IEDA_Caradco & Linseed Oil Buildings Amendment No. 6_IEDAIOWA ECONOMIC DEVELOPMENT AUTHORITY
200 East Grand Avenue • I Des Moines, Iowa 50309 USA I Phone: 515.725.3000
iowaeconomicdevelopment.com
December 10, 2013
The Honorable Roy D. Buol, Mayor
City of Dubuque
City Hall - 50 W. 13th Street
Dubuque, IA 52001
-R.ECEIVEG E.cmcmic
13 DEC. I3 AMI0 :55
City Clerk's Office
Dubuque, IA
SUBJECT: Contract Number 08 -DRH -212 — Amendment Number 6
Dear Mayor Buol:
The Iowa Economic Development Authority (IEDA) hereby amends the above referenced Community
Development Block Grant (CDBG) Program contract by adjusting the performance target for Low -
Moderate Income units in the Multi - Family New Construction Activities.
This amendment is in response to your office's email request dated 12/9/2013.
The contract by and between the Iowa Economic Development Authority ( "Department or IEDA ") and
Dubuque ( "Recipient ") is amended as of the date of this letter as follows:
AMEND each Article in the Contract that refers to "Attachment A, Program Description and Budget"
to "Attachment A, Program Description and Budget, as amended."
AMEND Activity 4 (876) to reduce the number of LMI units in the Caradco Building from 46 (64 %) to
37 LMI Units (51 %); the total number of units in the Caradco Building remains at 72 Units.
A technical correction to Amendment 5 - the general administration award amount, as associated
with the Multi - Family New Production Round 5 - Linseed Oil Building should read $44,977.00 That
general administration amount was misrepresented on Amendment 5, however the Budget and
Attachment A for Amendment 5 reflected the correct amount, therefore this technical correction
does not impact the existing project budget.
Except as otherwise revised above, the terms, provisions, and conditions of the Contract remain
unchanged and are in full force and effect.
PLEASE FILE THIS AMENDMENT MATERIAL WITH YOUR ORIGINAL CONTRACT DOCUMENT so that
you will have current information on the status of your contract. If your amendment includes a
budget-change, be sure that is reflected on your next—"Request—for—Payment/Activity-Status_ Form"
Please contact me at (515) 725 -3078 or Ann.Schmid @iowa.gov if you have any questions.
Ann Schmid
Project Manager
AS/
Attachment
cc: Phil Wagner, City of Dubuque
Fiscal
File (AS)
Governor Terry E. Branstad I Lt. Governor Kim Reynolds I Director Debi V. Durham
IOWA CDBG DISASTER RECOVERY HOUSING FUND PROGRAM DESCRIPTION & BUDGET
ATTACHMENT A
Name of Recipient: Dubuque
Contract Number: 08-DRH-212
DATE: December 10,2013
To beltl[ed in by IE)ED
Qrrinal
Proj Mgr Sgn AS
Activity 4: 876 Multi-Family New Production - Caradco Bldg
ERFORMANCE
# of Units
72
LMI Units
37
LMI 10,237,200,00
Activity 4: 876 Multi-Family New Production - Linseed Oil Bldg
16
9
LMI 2,203,913
GENERAL ADMINISTRATION 181
$44,977
TOTAL BUDGET:
$12,486,090
G:\BCF\Recipients\Disaster\O8DRH\DubuqUe - 212\Dubuque 08-DRH-212AttachAAmend6.xlsx
Schmid, Ann [IEDA]
From:
Sent:
To:
Cc:
Subject:
Ann,
Phillip Wagner [Pwagner @cityofdubuque.org]
Monday, December 09, 2013 4:47 PM
Schmid, Ann [IEDA]
Maurice Jones
CARADCO building
The City of Dubuque requests that the 55 low -to- moderate income housing units currently required in Contract No. 08 -DRH -212
be reduced to 46 low -to- moderate income housing units. Pursuant to the contract, a total of 88 units will still be required for
construction. The request in reduction of LMI units is specifically for the CARADCO building. The developer's application stated
that 46 of 72 units would have income qualifications, however due to difficulties in renting the units, the developer has
now requested that only 37 units contain income restrictions, which would still meet the 51% LMI unit requirement. This
amendment would not impact the Linseed Oil Paintworks Company Building, which was included as part of 08 -DRH -212 on June
19, 2013.
We certainly appreciate your willingness to help us with this matter in such a quick and simple fashion. Please let us know if
there is anything else you need from us. At what point can the developer begin leasing out additional units to non LMI renters?
Thanks again Ann.
Phil Wagner
Assistant Economic Development Director
City of Dubuque
50 W. 13th Street
Dubuque, Iowa 52001
Phone: (563) 589-4393
Fax: (563) 589 -1733
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