MWF Prop, Housing Raven HillsMWF Properties
Jeanne Schneider
Dubuque City Clerk
50 W. 15th Street
Dubuque, IA 52001
7645 Lyndale Avenue South · Minneapolis, MN 55423 · 612-243-4639 · Fax: 612-243-5010
Fax: 563-589-0890
December 26, 2001
Re: Exhibit 14, City Resolutiin of Support for Council Meeting of January 7, 2002,
REQUEST FOR AN APPEARANCE BEFORE THE CITY COUNCIL FOR AN
INFORMAL REVIEW AND RESOLUTION OF SUPPORT FOR AFFORDABLE
HOUSING IN THE CITY OF DUBUQUE; Council Meeting of January 7, 2002
Dear Ms. Schneider;
The following is an explanation of the "Resolution of Support" required by the State of
Iowa for IFA project approval:
a. The project (Raven Hills) will contain not more 66 units, but specifically we will
design and submit for 8 buildings with 8 apartment units in each building.
The project mix will consist of 16 units of 3 bedroom and 48 units of 2 bedroom
design. This will be new construction on the 7.7 acres at the dead end of Raven
Oaks Drive in the Northwest quadrant of the City of Dubuque, IA.
c. The project will have a community room of 1400 SF.
d. The Sponsor (MWF Properties) has requested local financing assistance through
DB & T for 1% of the project development cost.
I certainly understand that any "letter of support" may require some conditional
statements regarding approvals from the City Council, Planning, and the City Engineer.
This Resolution of Support is predicated upon project approval by these agencies. Please
review the attached sample letter and adapt it to meet your cities needs.
Furthermore, MWF Properties will provide the City Council with any type of waiver or
letter to "hold harmless" the city for a cdnceptual support of this project. Exhibit 14, the
Resolution of Support should be signed by the Mayor or City Manager. If you have any
questions, please contact me at 612-243-4639. Thank you for your help.
Sincerer,
David T. Steele
Vice President - Real Estate Development
S~even Uls~d Aroh1~eo~
EXHIBIT 14
SAMPLE RESOLUTION
WHEREAS, the City of , Iowa, has been informed
by that a Iow income housing tax credit application (will
or has been) filed with the Iowa Finance Authority for the development of affordable rental housing to be
located at , Iowa with a legal description as follows:
WHEREAS, this housing project will contain
uni~;
WHEREAS, the units will be targeted to (elderly, family, special needs, mixed income,
rent subsidized);
WHEREAS, the project will be a (new construction, acquisifion and rehabilitation or
rehabilitation);
WHEREAS, the property will have the following amenities:
WHEREAS, the Sponsor has requested local assistance through (tax increment
financing, a tax abatement, issuance of taxable revenue bonds);
NOW, THEREFORE, BE IT RESOLVED by the City of
Governing Body, that we support and approve the development of the aforesaid housing in our
community, subject to city ordinances and the building permit process. This resolution is
effective until __ In the event that any of the characteristics mentioned above should
change prior to the issuance of a building permit, this resolution is null and void.
ADOPTED BY THE GOVERNING BODY AND APPROVED BY THE MAYOR, this
,200____
day of
Mayor
ATTEST:
City Clerk
SEAL
TO:
MEMORANDUM
December 26, 2001
The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: Affordable Housing Tax Credit Program Application from MWF Properties
The City of Dubuque has received a request from MWF Properties, a private developer,
for City support of an application to the Iowa Finance Authority for housing tax credits
for a new construction family apartments complex to be located on Raven Oaks Drive.
The Iowa Finance Authority accepts applications once a year, and the due date is
January 14, 2002; the request for Council action was received from the developer on
December 20, 2001.
This project on Raven Oaks Drive is a replacement for a previously proposed affordable
senior housing complex by another developer.
The Affordable Housing Tax Credit Program provides an equity financing mechanism
for housing projects which in tum must provide rental units for Iow- and moderate-
income tenants. In Iowa it is administered by the Iowa Finance Authority, which this
year will distribute approximately $5 million in tax credits State-wide, on a competitive
application basis.
In Dubuque, projects previously financed through this program include Heartland
Housing Initiative's Loras Boulevard and Main Street apartments, the Applewood
seniors complex on Pennsylvania Avenue and the Bishop's Block Apartments. The
Iowa Inn project was also awarded tax credits in 2000, and is now under construction.
These projects were either rehabilitation of existing downtown structures, or new
construction of affordable senior housing.
Only one family development, new construction requests for tax credits have previously
been considered by the Council. That was received in 1995 from Heartland Housing
Initiative, a local non-profit organization now known as Mercy Housing. The Council did
pass a resolution of support for that application to IFA, which proposed 49 family units
to be constructed at the end of Windsor Avenue. This project was ultimately not funded
by IFA.
MWF Properties' request is for a resolution of support for the Raven Hill Apartments, a
66 unit affordable family housing rental complex. It is to be located on Raven Oaks
Drive, near JFK Road.
Due to the short time frame of the request from the developer, this request for support
has not been reviewed by the Housing Commission. There is no Housing Commission
or staff recommendation related to this project.
Michael C. Van Milligen
MCVM/jh
Attachment
cc: Barry Lindahl, Corporation Counsel
Cindy Steinhauser, Assistant City Manager
David Harris, Housing and Community Development Director
CITY OF DUBUQUE, IOWA
MEMORANDUM
20 December 01
To: Michael Van Milligen, City Manager
From: David Harris, Housing and Community Development Department
Re: Affordable Housing Tax Credit Program application from MWF Properties
Introduction
The purpose of this memorandm is to review the request fi.om a private developer for
City support of an application to the Iowa Finance Authority (IFA) for housing tax
credits, for a new family apartments complex to be located on Raven Oaks Drive. The
Authority accepts applications only once a year. And although the applications are due
on 14 January 2002, the request for Council action was received from the developer on
20 December.
Background
The Affordable Housing Tax Credit Program provides an equity financing mechanism for
housing projects which in turn must provide rental units for low- and moderate-income
tenants. It implements Section 42 of the Internal Revenue Service Code, returning tax
credits to investors who build or'renovate low income hous'mg. In Iowa it is administered
by the Iowa Finance Authority, which this year will distribute approximately $5 million
in tax credits State-wide, on a compet'rdve application basis.
In Dubuque, projects previously financed through this program include Heartland
Homing Initiative's Loras Boulevard and Main Street apartments, the Applewood seniors
complex on Pennsylvania Avenue and the Bishop's Block Apartments. The Iowa Inn
project was also awarded tax credits, in 2000, and is now under construction.
Beginning with last year's tax eredit funding competition, the Finance Authority revised
its administrative rules. Now required ofall applicants is commitment fi.om a "public or
private agency" ora "local contributing effort" with a value of not tess than one percent
of construction costs of the project. This is a threshold scoring requirement for the tax
credit application. However, the developer, lVlWF Properties, has secured the necessary
local contribution from private sources, and is not requesting City assistance for the
proposed project.
Discussion
MWF Properties' request is for a resolution of support for the Raven Hill Apartments, a
66 unit family housing complex. It is to be located on Raven Oaks Drive, near JFK
Road. For purposes of the application, a resolution of support must be obtained at this
time; the deadline for submission to the Finance Authority is 14 January.
A proposal for housing tax credits for the Raven Oaks site was submitted by another
developer last May, and received a resolution of support from the City Council at that
time. However, that proposal for was development of 62 units of low-income senior
housing, not for family units.
Only one family development, new commction proposal (for tax credits) has previously
been considered by the Council. That was received in 1995 from Heartland Housing
Initiative, a local non-profit organization now known as Mercy Housing. The Council
did pass a resolution of support for that application to IFA, which proposed 49 family
units to be constructed at the end of Windsor Avenue. This project was ultimately not
Recommendation
The developer's request is presented to the Council without recommendation.
Action Step
The action requested of the City Council is to consider MWF Properties' request for
support ora family residential complex on Raven Oaks Drive. Specifically, the request is
for authorization of the Mayor's signature on the attached resolution of support, for the
application for tax credits to the Iowa Finance Authority.
Prelmrer: Jean Noel Address: 1805 Central Telephone: (563)589-4239
RESOLUTION NO. - 02
A RESOLUTION OF SUPPORT FOR THE DEVELOPMENT OF A RENTAL
HOUSING PROJECT TO BE KNOWN AS RAVEN HILL
APARTIvlENTS
WHEREAS, the City of Dubuque, Iowa has been informed by MWF Properties
that a Iow income housing tax credit application will be filed with the Iowa Finance
Authority for the development of a sixty-six (66) unit family rental housing project to be known
as the Raven Hill Apartments ("Raven Hill") to be located on approximately 7.7 acres at Raven
Oaks and Crissy Drives, Dubuque, Iowa ("Property");
WHEREAS, the Property is legally described as follows:
Lots 1, 2, 3, 4, 5 and 6 of Block 1; Lots 1, 2, 3, 4, 5 and 6 of Block 2; Lots l, 2, 3, 4, 5
and 6 of Block 3; Lots 1, 2, 3, 4, 5 and 6 of Block 4; Lots 1, 2, 3, 4, 5 and 6 of Block 5; Lots 1, 2,
3, 4, 5 and 6 of Block 6; Lots 1, 2, 3, 4, 5 and 6 of Block 7; all in "Oak Brook Townhouses" in
the City of Dubuque, County of Dubuque, Iowa, according to the recorded Plat thereof.
Lots 7, 7a, 8, 8a, 9, 10, 10a, 11, 12, 13 , 14 and Lot 1 of Lot 15 in ''Oakbrook
Development" in the City of Dubuque, Iowa, according to the recorded Plat thereof consisting of
approximately 7.7 acres located in Dubuque County;m Dubuque, Iowa.
WHEREAS, Raven Hill units will be targeted for family housing; and
WHEREAS, Raven Hill will be a new construction project built on a vacant parcel of
WHEREAS, Raven Hill will have the following amenities:
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF DUBUQUE, IOWA:
Section 1. The City supports the application of Raven Hill Apartments
for Affordable Housing Tax Credits, subject to necessary public hearings, ordinances
and building permits.
Section 2. This resolution shall remain effective until 1 June 2002. In the
event that any of the above-listed characteristics of Raven Hill should materially change
prior to the issuance ora building pemfit, this resolution shall be null and void.
Passed, approved and adopted this day of January, 2002.
Attest:
Terrance M. Duggan, Mayor
Jeanne F. Schneider, CMC
City Clerk
WISCC
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SAGEVII=LE
JOHN F.
KENNEDY
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DUBUQUE
SCALE OF MILES
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call 319-589-4196
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Marywood Dr
Proposed area
12/26/01 16:03~:01/03 N0:811
Jeanne Scbueid~r
Dubuque City Clerk
50 W. 15'~ Street
Dubuque, IA 52001
Der~mb~r26,2001
Re: Exhibit 14, City R~solufion of Support for Couneil Meeting of January 7,
REQUEST FOR AN APPEARANCE BEFORE THE CITY COUNCIl. I~OR AN
INIZOR_MAL REVIEW AND RESOLIYl'ION OF SUPPORT IZOR AFFORDABL~
HOU$1NG IN THE CITY OF DUBUQUE; Cmmdl Meetll~ of Jammry
The following is an explanation of tbe "Resolution of Support" required by thc State of
Iowa for IFA project approval;
a~ The project (Raven Hills) will comain not more 66 units, but .,q~cifically wc will
design and submit for $ buiklings with 8 apartment units in each building,
b. The project mix will consist of' 16 units of 3 bedroom and 48 units o1' 2 bedroom
design. This will be new construction on thc 7.7 acres at thc dead end of Raven
Oaks Drive in the Northwest quadrant of thc City of Dubuque, I .
c. The project will have a community mom of 1400 SF,
d. The Sponsor (MWF Properties) has requested local financing assistance through
DB & T for 1% of the project development cost,
I ¢crtairdy understand that any "letter of supporC may require some conditional
statements regarding approvals from thc City Council, Planning, and the City Engineer.
This Resolution of Support is predicated upon project approval by thesc agencies. Please
review the attached sample letter and adapt it to mect your citie~ needs.
Furtbermorc, MWF Properties will provide thc CRy Council with any type of waiver or
let~r to "hold harmless" the city for a conceptual support ofthis project, Exhibit 14, the
Resolution of Support should be signed by the Mayor or City Manager. If you have any
questions, please contact me at 612-243-4639. Thank you for your help,
David T. Steele
Vic~ President - Real Estate Development
1~/26/01 16:03~:02/03 N0:811
12/26/01 16:03~:03/03 N0:~11
EXHIBIT 14
SAMPLE RESOLUTION
m~IERI~AS, the City of ,1o~ ha~ ~ infom~t
by that a Iow income housing lax credit ml~kation (will
or ha~ bee~) filed ~th the Iowa Finar~e Autho~lt~ for the development of affordable rental housing to be
lee. atari at , iowa ~t'n a legal de~.rlptiofl a~ follow~:
WHERF. A~, t~)s housing project will contair~
unit~;
IM, IEI~.A~, the units will be targeted to (elderly, family, special needs, mixed income,
rent lublidized);
~1'#~, the project ~ill be a (n~ ¢~a'ueficm, acquiaitJon arid rehabilitation
rehabilitation);
the property will have the falloe~ing amenities:
WNEI~A8, t~e Spofl~or has requested Io(~al assistance through (tax increment
financing, a tax abatement, issuance of taxable revenu~ bends);
HOW, THEREFORE, BE IT RESOLVED by the City of
G~veming Bedy, that we ~upport and mppmve the development of the aforesaid housing in our
~ommunily, ~ubject to ~lty ordinances and the building permit ~. This rea31ution is
effeclive until , in the event ~at any of the c~aracterlstics mentioned above ~houl(I
change pri~r to the i~suance of a building permit, this re~olution is null and void.
ADOPTED BY THE GOVERNING BODY AND APPROVED BY THE MAYOR, this
d~y of
ATTEST:
City Clerk
SEAL