First Amendment to Development Agreement for 253 Main St._Oberbroeckling Copyright 2014
City of Dubuque Consent Items # 9.
ITEM TITLE: First Amendment to Development Agreement for 253 Main
Street
SUMMARY: City Manager recommending approval of the First
Amendment to Development Agreement with Kenneth
Oberbroeckling for redevelopment of 253 Main Street to
extend the completion date to March 1, 2016.
RESOLUTION Approving the First Amendment to the
Development Agreement between the City of Dubuque,
Iowa and Kenneth Oberbroeckling
SUGGESTED DISPOSITION: Suggested Disposition: Receive and File; Adopt
Resolution(s)
ATTACHMENTS:
Description Type
253 Main Street 1st Amendment to Development City Manager Memo
Agreement-MVM Memo
Staff Memo Staff Memo
1st Amendment to DA Supporting Documentation
Resolution - Adopting 1st Amendment Resolutions
THE CITY OF Dubuque
UBE I
erica .i
Masterpiece on the Mississippi 2007-2012-2013
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: 1 St Amendment to Development Agreement for 253 Main Street
DATE: December 14, 2015
Economic Development Director Maurice Jones recommends City Council approval of
the 1 St Amendment to Development Agreement with Kenneth Oberbroeckling for
redevelopment of 253 Main Street to extend the completion date to March 1, 2016.
1 concur with the recommendation and respectfully request Mayor and City Council
approval.
Micliael C. Van Milligen
MCVM:jh
Attachment
cc: Barry Lindahl, City Attorney
Cindy Steinhauser, Assistant City Manager
Teri Goodmann, Assistant City Manager
Maurice Jones, Economic Development Director
Dubuque Economic Development Department
THE CITY OF 50 West 13th Street
All-AmericaCitY Dubuque,Iowa 52001-4864
DUB36kE1 ' Office(563)589-4393
TTY(563)690-6678
® http://www.cityofdubuque.org
Masterpiece on the Mississippi 200.2012.2013
TO: Michael Van Milligen, City Manager
FROM: Maurice Jones, Economic Development Director
SUBJECT: 1St Amendment to Development Agreement for 253 Main Street
DATE: December 11, 2015
INTRODUCTION
This memorandum presents for review and approval an amendment to the
Development Agreement with Kenneth Oberbroeckling for the redevelopment of the
property at 253 Main Street.
BACKGROUND
City Council approved a Development Agreement with Kenneth Oberbroeckling for the
redevelopment of 253 Main Street on April 6, 2015. The Agreement calls for a capital
investment of at least $600,000 and the creation of four (4) market rate apartments.
DISCUSSION
The project at 253 Main Street is nearly complete, but will likely pass the substantial
completion date of December 31, 2015, as set forth in the Development Agreement.
The 1 St Amendment will extend the completion date to March 1, 2016.
RECOMMENDATION/ ACTION STEP
I recommend the Council approves the attached resolution, authorizing the Mayor to
sign the 1St Amendment.
RESOLUTION NO. 429-15
APPROVING THE FIRST AMENDMENT TO THE DEVELOPMENT AGREEMENT
BETWEEN THE CITY OF DUBUQUE, IOWA AND KENNETH OBERBROECKLING
Whereas the City of Dubuque, Iowa (City) and Kenneth Oberbroeckling
(Developer) entered into a Development Agreement dated for reference purposes the 6th
day of April, 2015 for the redevelopment of the property at 253 Main Street; and
Whereas City and Developer now desire to amend the Development Agreement
as set forth in the First Amendment to Development Agreement attached hereto.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF DUBUQUE, IOWA:
Section 1. The City Council hereby approves the First Amendment to Development
Agreement.
Section 2. The Mayor is authorized and directed to sign the First Amendment to
Development Agreement on behalf of the City of Dubuque.
Passed, approved and adopted this 21st day of Dember, 2015.
Roy D.Viol, Mayor
Attest:
Kevin Si'. Firnstahl; City Jerk
FIRST AMENDMENT
TO
DEVELOPMENT AGREEMENT
BETWEEN
THE CITY OF DUBUQUE, IOWA
AND
KENNETH OBERBROECKLING
This First Amendment to Development Agreement, dated for reference purposes
the 21st day of December 2015, is made and entered into by and between the City of
Dubuque, Iowa (City) and Kenneth Oberbroeckling (Developer).
Whereas City and Developer previously entered into a Development Agreement
dated the 6th day of April, 2015 (the Development Agreement) for the redevelopment of
the property at 253 Main Street; and
Whereas substantial work on the property which is the subject of the
Development Agreement has been performed to date, but the Minimum Improvements
required by the Development Agreement are not yet complete; and
Whereas City and Developer desire to amend the Development Agreement as
set forth herein.
NOW, THEREFORE, IT IS AGREED BY AND BETWEEN THE PARTIES THAT
THE DEVELOPMENT AGREEMENT IS AMENDED AS FOLLOWS:
1. Section 2.4 of the Development Agreement is hereby amended to read as
follows:
Timing of Improvements. Developer hereby agrees that construction of the
Minimum Improvements on the Property shall be commenced within thirty (30) days
after the Closing Date, and shall be substantially completed by March 1, 2016. The
time frames for the performance of these obligations shall be suspended due to
unavoidable delays meaning delays, outside the control of the party claiming its
occurrence in good faith, which are the direct result of strikes, other labor troubles,
unusual shortages of materials or labor, unusually severe or prolonged bad weather,
acts of God, fire or other casualty to the Minimum Improvements, litigation commenced
by third parties which, by injunction or other similar judicial action or by the exercise of
reasonable discretion directly results in delays, or acts of any federal, state or local
government which directly result in extraordinary delays. The time for performance of
such obligations shall be extended only for the period of such delay.
2. All other terms and conditions of the Development Agreement remain in
full force and effect.
CITY OF DUB I QUE, IOWA WEAVER CASTLE LLC
By: 0e4f By:
Roy D. uoI Kenneth Oberbroeckling
Mayor Developer
Attest:
By.
Ke ''n S. FirnStahl
City Clerk
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