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Minutes Enterprise Zone 5 8 07ENTERPRISE ZONE COMMISSION City of Dubuque, Iowa MINUTES DATE: May 8, 2007 TIME: 4:30 P.M. PLACE: Conference Room B, City Hall 50 West 13th Street, Dubuque, Iowa 52001 COMMISSION: Present: Doug Buswell, Doug Stillings, Dan LoBianco, Dave Baker, Kelley Deutmeyer, Mike Van Milligen, Dan White, and Rick Stein. Absent: Eileen LeMay. STAFF: David Heiar and Aaron DeJong OTHERS: Rick Dickinson, Wayne Briggs, Brian Kane CALL TO ORDER Chairperson Stein called the meeting to order at 4:35 p.m. Staff certified that the meeting was being held in compliance with the Iowa Open Meetings Law. MINUTES Stillings moved and LoBianco seconded a motion to approve the minutes of December 18, 2006. Motion passed unanimously. APPLICATIONS Housing EZ Benefits for Port of Dubuaue New Main. LLC Staff person Dave Heiar gave a description of Port of Dubuque New Main's development plans in the Port of Dubuque. The mixed-use building project will consist of three phases, each with retail, commercial, and residential uses in each phase. The application looking for approval at this meeting is for the residential portion of phase I which consists of approximately 20 condominium units estimated approximately $6,000,000 to construct. This price includes the condo units and the common spaces associated with the residential portion of the project. The three-phased project is planned to be located along 5th and Bell streets in the Port of Dubuque. POD New Main is looking for the Sales Tax exemption on construction and the 10% investment tax credit on the new housing units up to $140,000 per unit. Wayne Briggs spoke on behalf of POD New Main that the Enterprise Zone benefits for the residential portion of the project will make the entire project more cost feasible and help ensure a successful project. Attorney Brian Kane stated to the Board that the POD New Main project is exactly the type of project the State's Enterprise Zone legislation wants to encourage. The project will bring needed investment into a stressed area of the City and that it will provide quality housing for the residents in the area. Greater Dubuque Development Corporation Executive Director, Rick Dickinson, spoke in favor of the project in that the project is the first in the Port of Dubuque to truly fall in line with the concepts written in the Port of Dubuque Master Plan. Dickinson also stated that GDDC has been working closely with POD New Main to make Phase I of the project successful so that the following phases will come to fruition. Board member LoBianco stated that the Downtown needs more condominium units and that this project will be a great addition to the Port of Dubuque and the City. Board member Baker asked for a clarification as to what state incentives were being asked for and for the amount of those incentives. The Chair asked for public comments and none were given. Motion was made by Baker, second by Buswell, to authorize the resolution approving the application. Stillings indicated that he supported the project but had a potential conflict of inters and would therefore abstain from voting. The following vote was taken: Aye: Buswell, Van Milligen, LoBianco, Baker, Deutmeyer, White, and Stein Nay: None Abstain: Stillings Motion Approved 7-0 with one abstention. ITEMS FROM COMMISSION Chairperson Stein noted that there was a discrepancy in the date of the Enterprise Zone map and asked that staff do research to determine the correct date of the map. ITEMS FROM THE PUBLIC ADJOURNMENT Meeting was adjourned by Chairperson Stein at 5:00 p.m. Submitted by Aaron M. DeJong, Staff F:\USERS\Adejong\Enterprise Zone\Minutes\20070508 Enterprise Zone Meeting Briggs.doc