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Interstate Power Devel. AgreeMEMORANDUM April 30, 2002 TO: FROM: SUBJECT: The Honorable Mayor and City Council Members Michael C. Van Milligen, City Manager Approval of Amendments to Development Agreement and Real Estate Contract Between City and Interstate Power and Light Company for the Sale and Development of Property in the Dubuque Industrial Center West Economic Development Director Bill Baum recommends approval of the Amendment to Development Agreement and Amendment to Real Estate Contract for the disposition of Lots 2, 3 and 5 of the Dubuque Industrial Center West 2nd to Interstate Power and Light Company. The amendments provide for the substitution of Lot 6 for Lot 5, which will accommodate the company's plan to construct a new substation adjacent to utility poles running along the west side of Seippel Road. Additional compensation in the amount of $74,461.90 will be made to the City for the 1.022 acre increase between the two lots. I concur with the recommendation and respectfully request Mayor and City Council approval. MCVM/jh Attachment cc: Barry Lindahl, Corporation Counsel Cindy Steinhauser, Assistant City Manager VVilliam Baum, Economic Development Director © CITY OF DUBUQUE, IOWA MEMORANDUM TO: FROM: SUBJECT: April 29, 2002 Michael C.Van Milligen, City Manager Approval of Amendments to Development Agreement and Real Estate Contract Between City and Interstate Power and Light Company for the Sale and Development of Property in the Dubuque Industrial Center West INTRODUCTION This memorandum presents for City Council consideration a resolution approving the Amendment to Development Agreement and Amendment to Real Estate Contract for the disposition of Lot 2, Lot 3 and Lot 5 of the Dubuque Industrial Center West 2nd addition to Interstate Power and Light Company. The amendments provide for the substitution of Lot 6 for Lot 5. A public hearing on the disposition of Lot 6 has been set for May 6, 2002. BACKGROUND On November 19, 2001, the City Council approved a Development Agreement with Interstate Power and Light Company (f/k/a Interstate Power Company) to purchase property and develop an operations facility and substation on three lots in the Dubuque Industrial Center West. On Apd115, 2002, the City Council was presented with the attached memorandum recommending that a public hearing be set for May 6, 2002, on the proposed amendment to the Development Agreement and Real Estate Contract to allow a lot swap. The Council received the memorandum and set the matter for hearing. DISCUSSION Attached to this memorandum is a resolution that approves the amendments to Development Agreement and Real Estate Contract with Interstate Power and Light Company and authorizes execution of the amendments. The amendments provide for the sale of Lot 6 to the company and reversion of Lot 5 to the City. This lot swap accommodates the company's plans to construct a new substation adjacent to utility poles running along the west side of Seippel Road. Additional compensation will be made to the City for the slight increase in acreage between the two lots. The terms and conditions of the original Development Agreement remain the same. RECOMMENDATION I recommend that the City Council approve the amendments to Development Agreement and Real Estate Contract with Interstate Power and Light Company for the sale of Lot 6 of the Dubuque Industrial Center West 2nd Addition. This action supports the Council's objectives to assist a local business expand its operations. ACTION STEP The action step for the City Council is to adopt the attached resolution. attachments Prepared by: Pamela Myhre, Economic Development Planner F:\USERS~Pmyhre\WPDOCS\LOANDOC~ALLIANT~finaf.dispo2.memo.rtf Prepared by: Pamela Myhre 50 W. 13th Street Dubuque, Iowa 52001 563-589-4213 RESOLUTION NO. RESOLUTION APPROVING AN AMENDMENT TO DEVELOPMENT AGREEMENT AND AMENDMENT TO REAL ESTATE CONTRACT WITH INTERSTATE POWER AND LIGHT COMPANY PROVIDING FOR THE SALE AND PRIVATE DEVELOPMENT OF LOT 6 OF THE DUBUQUE INDUSTRIAL CENTER WEST 2ND ADDITION IN THE CITY OF DUBUQUE, IOWA. Whereas, this Council, by Resolution No. 225-02 dated April 15, 2002, declared its intent to dispose of an interest in Lot 6 of the Dubuque Industrial Center West 2nd Addition in the City of Dubuque, Iowa, as shown on the attached proposed plat (the Property) pursuant to an Amendment to Development Agreement and Amendment to Real Estate Contract with Interstate Power and Light Company; and Whereas, pursuant to published notice, a public hearing was held on the proposed disposition on May 6, 2002, at 6:30 p.m. at the Carnegie-Stout Public Library Auditorium, 360 W. 11th Street, Dubuque, Iowa; and Whereas, it is the determination of this Council that approval of the Amendment to Development Agreement and Amendment to Real Estate Contract for the sale to and development of the Property by Interstate Power and Light Company according to the terms and conditions set out in the attached Amendment to Development Agreement and Amendment to Real Estate Contract is in the public interest of the citizens of the City. NOW, THEREFORE, BE iT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DUBUQUE, IOWA: Section 1. That the attached Amendment to Development Agreement and Amendment to Real Estate Contract by and between the City of Dubuque and Interstate Power and Light Company and the sale of the Property to Interstate Power and Light Company ara hereby approved. Section 2. That the Mayor is hereby authorized and directed to execute the Amendment to Development Agreement and Amendment to Real Estate Contract on behalf of the City and City Clerk is authorized and directed to attest to his signature. Section 3. That the Mayor and City Clerk are hereby authorized and directed to execute a Special Warranty Deed for the Property as provided in the Development Agreement and Real Estate Contract as amended. Section 4. That the City Manager is authorized to take such actions as are necessary to comply with the terms of the Amendments as herein approved. Passed, approved and adopted this 6th day of May, 2002. Attest: Terrance M. Duggan, Mayor Jeanne F. Schneider, City Clerk F:\USERS~Prnyhre\WPDOCS~LOANDOC~ALLIANT~Alliant final dispo2.res.doc FINAL PLAT DUBUQUE INDUSTRIAL CENTER WEST 2ND ADDITION IN THE CITY OF DUBUQUE, IOWA LOT 6 LOT 5 LOT 4 LOT 7 ',' LOT 8 LOT 5. o ~ LOT 2 LOT C LOT 1 575.79 (573.9) 10' 722.62' LEGEND · FOUND 5/I]' IRON ROD 9// O S~T 5/8" IRON ROD NORTH GRAPHIC SCALE 0 200 ~,00 1" = 200' DRAWING MAY HAVE BEEN REDUCED TOTAL AREA SURVEYED: 57.181 ACRES SURVEYED FOR &: PROPRIETOR: CITY OF DUBUOUE: IOWA DATE SURVEYED: JANUARY 2~ 2001 Prepared by: W. Har~aves lES Utilities, Inc. 200 First Street SE Cedar Rapids, IA 52406 AlVlENDMENT TO REAL ESTATE CONTRACT BETWEEN THE CITY OF DUBUQUE, IOWA AND INTERSTATE PO~VER AND LIGHT COMPANY f/k/a INTERSTATE PO~VER COMPANY DATED DECEMBER 27, 2001 319-398-4524 This Amendment to Real Estate Contract is made as of the day of April, 2002, by and between the City of Dubuque, Iowa, a murficipality ("City") established pursuant to the Code of Iowa and the State of Iowa and acting under authorization of Chspter 403 of the Code of Iowa, as amended, and Interstate Power and Li~dat Company, an Iowa corporation, formerly known as Interstate Power Company ("Developer"). WHEREAS, the City and the Developer are parties to a Real Estate Contract dated as of December 21, 2001, recorded as Instrument No. 3 84-0 2 - Dubuque County, Iowa, with respect to the pttrchase of the following clescnoed real property situated in Dubuque County, Iowa: Lot 2, Lot 3 and Lot 5 of the Dubuque Industrial Center West 2na Addition in the City of Dubuque, Iowa WHEREAS,'the Developer desires and the City agrees ~o substitute Lot 6 for Lot 5 Dubuque Industrial Center West 2nd Addition in the City of Dubuque, Dubuque County, Iowa, as provided in the Real Estate Contract; and WHEREAS, the Developer shall pay and the City shall accept payment for the additional size of Lot 6 over the size of Lot 5 ar the same dollar amount per acre as agreed in the Real Estate Contract; and WHEREAS, the difference in size between Lot 5 and Lot 6 is 1.022 acres and the increase in price between Lot 5 and Lot 6 is $74,461.90. NOW, THEREFORE, in consideration of the premises and the mutual obligations of the parties thereto, each of them does hereby covenant and agree with the other as follows: The Real Estate Contract is herev,4th amended as follows: The legal description is changed to read: "Lot 2, Lot 3 and Lot 6 of the Dubuque Industrial Center West 2 d Ad&tmn m the City of Dubuque, Iowa . Paragraph 1. PRICE. is changed to read: "ONE MILLION TWO HUNDRED EIGHTY-NINE THOUSAND TWENTY-ONE DOLLARS AND 40/00 ($t,289,021.40)"; AND Tl~e Balance Due is changed to read: "$1,269,021.40"; The second installment payment is changed to read: "$671,741.70 (ONE HALF PLUS AN ADDITIONAL $74,461.90 FOR THE CHANGE FROM LOT 5 TO LOT 6)". All other l~rovisions of the original Real Estate Contract shall remain unchanged and in full effect. Dated: ,~ptg. 47 Z~a'z... Dated: INTERSTATE POWER AND LIGHT COMPANY-Buyer CITY OF DUBUQUE, IOWA-Seller CITY OF DUBUQUE, IOWA-Seller STATE OF IOWA COUNTY OF DUBUQUE ss: Onthis z_/ dayof /~l]orl/ ,2002, beforeme, the undersigned, aNotary Public in and for said State, personally appeared John O. Larsen, to me personally known, who being by me duly sworn, did say that he is the Managing Director-Electrical Engineering and Asset Management, Interstate Power and Light Company, fJk/a Interstate Power Company, and that this Amendment to Real Estate Contract was signed on behalf of Interstate Power and Light Company by authority of the corporation and he acknowledged the execution of the instrument to be the voluntary act and deed of the corporation and by it voluntarily executed. Notary Public, State of Iowa STATE OF IOWA COUNTY OF DUBUQUE SS: On this day of ,2002, before me, the undersigned, a Notary Public in and for said State, personally appeared Terrance M. Duggan and Jeanne F. Schneider, to me personally known, who being by me duly sworn, did say that they are the Mayor and City Clerk, prospectively, of the City of Dubuque, Iowa; a muaicipal corporation; that the seal affixed to the foregoing instrument is the corporate seal of the corporation, and that the instmmem was signed and sealed on behalf of the corporation by authority of its City Council, as contained in Resolution No. passed by the City Council on the .; and Terrance M. Duggan and leanne F. Schneider acknowledged the execution of the instrument to be their voluntary act and deed and the voluntary act and deed of the corporation and by it voluntarily executed. Notary Public, State of Iowa AMENDMENT TO DEVELOPMENT AGREEMENT Tins Amendment to Development Agreement is made as of the day of April, 2002, by and between the City of Dubuque, Iowa, a municipality ("City") established pursuant to the Code of Iowa and the State of Iowa and acting under authorization of Chapter 403 of the Code of Iowa, as amended, and Interstate Power and Light Company, an Iowa corporation, formerly known as Interstate Power Company ("Developer"). WHEREAS, the City and the Developer are parties to a Development Agreement dated as of November 19, 2001, with respect to the purchase and construction of certain Minimum Improvements on the Development Property described therein; and WHEREAS, the Developer desires and the City agrees to substitute Lot 6 for Lot 5 Dubuque Industrial Center West 2nd Addition in the City of Dubuque, Dubuque County, Iowa, as provided in the Development Agreement; and WHEREAS, the Developer shall pay and the City shall accept payment for the additional size of Lot 6 over the size of Lot 5 at the same dollar amount per acre as agreed in the Development Agreement; and WHEREAS, the difference in size between Lot 5 and Lot 6 is 1.022 acres and the increase in price between Lot 5 and Lot 6 is $74,461.90. NOW, THEREFORE, in consideration of the premises and the mutual obligations of the parties thereto, each of them does hereby covenant and agree with the other as follows: Introductory Paragraphs. The sixth (6th) introductory "WHEREAS" paragraph is amended as follows: "Lots 2, 3, and 5" is changed to read, "Lots 2,3, and Section 1. Paragraph 1.1 is amended as follows: "17 acres" is changed to read, "18 acres". Section 2. Paragraph 2.3. The last sentence is deleted and replaced with the following semence: "The construction of an electrical substation in Lot 6 shall be commenced not later than December 3 l, 2002, and shall be substantially completed on or before twenty-four (24) months after commencement of construction.." IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by their respective duly authorized officers or representatives, as of or on the day first written above. CITY OF DUBUQUE~ IOWA Terrance M. Duggan Mayor INTERSTATE POWER AND LIGHT COMPANY John O. Larsen Managing Director- Electrical Engineering and Asset Management STATE OF IOWA COUNTY OF DUBUQUE SS: On this 6th day of May ., 2002, before me, the undersigned, a Notary Public in and for said State, personally appeared Terrance M. Duggan and Jeanne F. Schneider, to me personally known, who being by me duly sworn, did say that they are the Mayor and City Clerk, prospectively, of the City of Dubuque, Iowa; a municipal corporation; that the seal affixed to the foregoing instrmment is the corporate seal of the corporation, and that the instrument was signed and sealed on behalf of the corporation by authority of its City Council, as contained in Resolution No. 242-02 passed by the City Council on the 6t:h day of ~4ay, 2002 ;andTerranceM. Dugganand Jeanne F. Schneider acknowledged the execuji~u of the instrument to be their voluntary act and deed and the voluntary act and deed/6f/ihe co~/9va-ti'6-r~-~'vo~untarily '~N'~ary mubli~, ~taie CITY OF DUBUQUE, IOWA MEMORANDUM April 5, 2002 TO: FROM: SUBJECT: Michael Van Milligen, City Manager Baum, Economic Development Director/~.,~ ,/~~ William // Amendment to Development Agreement and Real Estate ~ ntract Between City and Interstate Power and Light Company. INTRODUCTION This memorandum presents for City Council consideration a resolution of intent to dispose of City-owned property by amendment to the Development Agreement and Real Estate Contract between the City and Interstate Power and Light Company. The two amendments provide for the substitution of Lot 6 for Lot 5 in the sale of property in the Dubuque Industrial Center West to the company. See attached map. DISCUSSION On November 19, 2001, the City Council approved a Development Agreement with Interstate Power Company following a public hearing. The Agreement set out the terms and conditions of the sale and development of land in the Dubuque Industrial Center West. At the time of the Agreement, Lot 2, 3 and 5 were identified as the development parcels. An operations facility was to be located on Lots 2 and 3 and a new substation constructed on Lot 5. Further design and discussion regarding the preferred substation location has resulted in a request from the company to construct the substation on Lot 6. Lot 6 is directly adjacent to the company's overhead utility poles running along the west side of Seippel Road. Additional compensation will be made to the City for the slight increase 'n acreage between the two lots. Lot 5 will revert to the City and can easily be combined with Lot 4 to create a 10+ acre development parcel. RECOMMENDATION I recommend that the City Council approve the attached resolution setting a public hearing on the disposition of Lot 6 of the Dubuque Industrial Center West 2naAddition for May 6, 2002. Prepared by: Pamela Myhre Economic Development Planner Attachments F:~USERS\Prn'~re\WPDOCS\LOANDOC\ALLIANT~MEND.mem.doc RESOLUTION NO. 225-02 RESOLUTION OF INTENT TO DISPOSE OF AN INTEREST IN REAL PROPERTY BY AMENDMENT TO DEVELOPMENT AGREEMENT AND REAL ESTATE CONTRACT BETWEEN THE CITY OF DUBUQUE, IOWA AND INTERSTATE POWER AND LIGHT COMPANY. WHEREAS, the City OF Dubuque, Iowa (City) and Interstate Power and Light Company (Developer) are parties to a Development Agreement dated as of November 19, 2001 with respect to the purchase and construction of certain Minimum Improvements on the Development Property described therein, which includes Lot 5 of Dubuque Industrial Center West 2nd Addition in the City of Dubuque, Iowa; and WHEREAS, the Developer desires and the City agrees to substitute Lot 6 for Lot 5 Dubuque Industrial Center West 2nd Addition in the City of Dubuque, Dubuque County, Iowa, as provided in the Development Agreement pursuant to the Amendment to Development Agreement attached hereto; and WHEREAS, the City and the Developer are parties to a Real Estate Contract dated as of December 21, 2001, recorded as Instrument No. 384-02, Dubuque County, Iowa, with respect to the purchase of the following described real property situated in Dubuque County, Iowa: Lot 2, Lot 3 and Lot 5 of the Dubuque Industrial Center West 2nd Addition in the City of Dubuque, Iowa; and WHEREAS, the Developer desires and the City agrees to substitute Lot 6 for Lot 5 Dubuque Industrial Center West 2"d Addition in the City of Dubuque, Dubuque County, Iowa, as provided in the Real Estate Contract, pursuant to the Amendment to Real Esta~te Contract attached hereto. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DUBUQUE, IOWA: Section 1. The City of Dubuque intends to dispose of its interest in the foregoing~descdbed real property by Real Estate Contract to Interstate Power and Light Company. Section 2. The City Clerk is hereby authorized and directed to cause this Resolution and a notice to be published as prescribed by Iowa Code Section 364.7 ora public hearing on the City's intent to dispose of the foregoing-described Property, to be held on May 6, 2002 at 6:30 o'clock p.m. at the Carnegie-Stout Public Library Auditorium, 360 W. 11th Street, Dubuque, Iowa. Passed, approved and adopted this 15t~ day of April, 2002. Terr~nce M. Duggan, Mayor Attest: e F. Schneider, City Clerk F:\USERS\Pmyhre\WPDOCS%OANDOC~ALLIAN'r~Intent to Dispose IPCl.doc Prepared by: W. Har~aves IES Utilities. Inc. 200 First Street SE Cedar Rapids, IA 52406 _~VlENDNEENT TO REAL ESTATE CONTRACT BETWEEN THE CITY OF DUBUQUE, IOWA AND INTERSTATE PO~YER .~ND LIGHT COMI~ANY f/k/a INTERSTATE POWER COMPANY DATED DECEMBER 27, 2001 319-398-4524 This Amendment to Real Estate Contract is made as of the .day of April, 2002, by and between the City of Dubuque, Iowa, a municipality ("City") established pursuant to the Code of Iowa and the State of Iowa and acting under authorization of Chapter 403 of the Code of Iowa, as amended, and Interstate Power and Light Company, an Iowa corporation, formerly known as Interstate Power Company ("Developer"). WHEREAS, the City and the Developer are parties to a Real Estate Contract dated as of December 21, 2001, recorded as Instrument No. 384-0 2 - Dubuque County, Iowa, with respect to the purchase of the following aescnoed real property situated in Dubuque County, Iowa: Lot 2, Lot 3 and Lot 5 of the Dubuque Industrial Center West 2nd Addition in the City of Dubuque, Iowa WHEREAS, the Developer desires and the City agrees to substitute Lot 6 for Lot 5 Dubuque Industrial Center West 2nd Addition in the City of Dubuque, Dubuque County, Iowa, as provided in the Real Estate Contract; and ;VHEREAS, the Developer shall pay and the City shall accept payment for the additional size of Lot 6 over the size of Lot 5 at the same dollar amount per acre as agreed in the Real Estate Contract; and WHEREAS, the difference in size between Lot 5 and Lot 6 is 1.022 acres and the increase in puce between Lot 5 and Lot 6 is $74,461.90. NOW, TI-IEREFORE, in consideration of the premises and the mutual obligations of the parties thereto, each of them does hereby covenant and agree with the other as follows: The Real Estate Contract is herewith amended as follows: The legal description is changed to read: "Lot 2, Lot 3 and Lot 6 of the Dubuque Industrial Center West 2nd Addition in the City of Dubuque, Iowa". Paragraph t. PRICE. is changed to read: "ONE MILLION TWO HUNDRED EIGHTY-NINE THOUSAND TWENTY-ONE DOLLARS AND 40/00 ($1,289,021.40)"; The Balance Due is changed to read: "$1,269,021.40"; The second installment payment is changed to read: "$671,741.70 (ONE HALF PLUS AN ADDITIONAL $74,461.90 FOR THE CHANGE FROM LOT 5 TO LOT 6)". All other provisions of the original Real Estate Contract shall remain unchanged and in full effect. Dated: ,,4p~tak 47 Z~'~'"~... INTERSTATE POWER AND LIGHT COMPANY-Buyer Dated: CITY OF DUBUQUE, IOWA-Seller CITY OF DUBUQUE, IOWA-Seller STATE OF IOWA COUNTY OF DUBUQUE ss: dayof ,/¢~r'// ,2002, before me, the undersigned, a Notary On this PubIic in and for~aid State, personally appeared John 0. Larsen, to me personally known, who being by me duly sworn, did say that he is the Managing Director-Electrical Engineering and Asset Management, Interstate Power and Light Company, f/k/a Interstate Power Company, and that this Amendment to Real Estate Contract was signed on behalf of Interstate Power and Light Company by authority of the corporation and he acknowledged the execution of the instrument to be the voluntary act and deed of the corporation and by it voluntarily executed. Notary Public, State of Iowa STATE OF IOWA COUNTY OF DUBUQUE SS: On this __day of _, 2002, before me, the undersigned, a Notary Public in and for said State, personally appeared Terrance M. Duggan and Jeanne F. Schneider, to me personally known, who being by me duly sworn, did say that they are the Mayor and City Clerk, prospectively, of the City of Dubuque, Iowa; a municipal corporation; that the seal affixed to the foregoing instrument is the corporate seal of the corporation, and that the instrument was signed and sealed on behalf of the corporation by authority of its City Council, as comained in Resolution No. passed by the City Council on the ; and Terrance M. Duggan and Jeanne F. Schneider acknowledged the execution of the instnnnent to be their voluntary act and deed and the voluntary act and deed of the corporation and by it voluntarily executed. Notary Public, State of Iowa AMENDMENT TO DEVELOPMENT AGREEMENT This Amendment to Development Agreement is made as of the day of April, 2002, by and between the City of Dubuque, Iowa, a municipality ("City") established pursuant to the Code of Iowa and the State of Iowa and acting under authorization of Chapter 403 o£ the Code of Iowa, as amended, and Interstate Power and Light Company, an Iowa corporation, formerly known as Interstate Power Company ("Developer"). WHEREAS, the City and the Developer are parties to a Development Agreement dated as of November 19, 2001, with respect to the purchase and construction of certain Minimum Improvements on the Development Property described therein; and WHEREAS, the Developer desires and the City agrees to substitute Lot 6 for Lot 5 Dubuque Industrial Center West 2nd Addition in the City of Dubuque, Dubuque County, Iowa, as provided in the Development Agreement; and WHEREAS, the Developer shall pay and the City shall accept payment for the additional size of Lot 6 over the size of Lot 5 at the same dollar amount per acre as agreed in the Development Agreement; and WHEREAS, the difference in size between Lot 5 and Lot 6 is 1.022 acres and the increase in price between Lot 5 and Lot 6 is $74,461.90. NOW, THEREFORE, in consideration of the premises and the mutual obligations of the parties thereto, each of them does hereby covenant and agree with the other as follows: Introductory Paragraphs. The sixth (6th) introductory "WHEREAS" paragraph is amended as follows: "Lots 2, 3, and 5" is changed to read, "Lots 2,3, and Section 1. Paragraph 1.1 is amended as follows: "17 acres" is changed to read, "18 acres". Section 2. Paragraph 2.3. The last sentence is deleted and replaced with the following sentence: "The construction o£ an electr/cal substation in Lot 6 shall be commenced not later than December 31, 2002, and shall be substantially completed on or before twenty-four (24) months after commencement of construction.." 1N WITNESS WHEREOF, the parties have caused this Amendment to be executed by their respective duly authorized officers or representatives, as of or on the day first written above. CITY OF DUBUQUE, IOWA INTERSTATE POWER AND LIGHT COMPANY By: Terrance M. Duggan Mayor John O. Larsen Managing Director- Electrical Engineering al~d Asset Management MEMORANDUM April 9, 2002 TO: FROM: SUBJECT: The Honorable Mayor and City Council Members Michael C. Van Milligen, City Manager Amendment to Development Agreement and Real Estate Contract Between City and Interstate Power and Light Company Economic Development Director Bill Baum is recommending an amendment to the Development Agreement and Real Estate Contract between the City and Interstate Power and Light Company, and that it be set for public hearing for May 6, 2002. The amendment would provide for the substitution of Lot 6 for Lot 5 in the sale of property in the Dubuque Industrial Center West. Additional compensation will be made to the City for the slight increase in acreage between the two lots. Lot 5 will revert to the City and can easily be combined with Lot 4 to create a 10+ acre development parcel. I concur with the recommendation and respectfully request Mayor and City Council approval. MCVM/jh Attachment cc: Barry Lindahl, Corporation Counsel Cindy Steinhauser, Assistant City Manager William Baum, Economic Development Director CITY OF DUBUQUE, IOWA MEMORANDUM April 5, 2002 TO: FROM: SUBJECT: Michael Van Milligen, City Manager William Baum, Economic Development Director/~~ ~~ // Amendment to Development Agreement and Real Estate C~.~ntract Between City and Interstate Power and Light Company. INTRODUCTION This memorandum presents for City Council consideration a resolution of intent to dispose of City-owned property by amendment to the Development Agreement and Real Estate Contract between the City and Interstate Power and Light Company. The two amendments provide for the substitution of Lot 6 for Lot 5 in the sale of property in the Dubuque Industrial Center West to the company. See attached map. DISCUSSION On November 19, 2001, the City Council approved a Development Agreement with Interstate Power Company following a public headng. The Agreement set out the terms and conditions of the sale and development of land in the Dubuque Industrial Center West. At the time of the Agreement, Lot 2, 3 and 5 were identified as the development pamels. An operations facility was to be located on Lots 2 and 3 and a new substation constructed on Lot 5. Further design and discussion regarding the preferred substation location has resulted in a request from the company to construct the substation on Lot 6. Lot 6 is directly adjacent to the company's overhead utility poles running along the west side of Seippel Road. Additional compensation will be made to the City for the slight increase in acreage between the two lots. Lot 5 will revert to the City and can easily be combined with Lot 4 to create a 10+ acre development parcel. RECOMMENDATION I recommend that the City Council approve the attached resolution setting a public earing on the disposition of Lot 6 of the Dubuque Industrial Center West 2 Addition for May 6, 2002. Prepared by:Pamela Myhre Economic Development Planner Attachments F:\USERS\Pmyhre\WPDOCS~OANDOC~ALL[ANT~AMEND.rnem.doc LEGEND FINAL PLAT DUBUQUE INDUSTRIAL CENTER WEST 2ND ADDITION IN THE CITY OF DUBUQUE, IOWA SEC. 25-89-1E LOT 5 TEMPORARY LOT 4- LOT 7 LOT 3. 15' U.E. w LOT 8 Z 2,57~ AC, << 'T'O ROAD LOT 2 15* ~DE SANITARY ¢$] s ¢ OF EY4S~NG LOT C LOT 1 I S 88'13'21" W 573.7¢(573.93') LOT 2, S~PPEL ROAD PLACE DUBUQUE COUNTY S 88'15'21" W 765.0f(762. gB') NORTH GRAPHIC SCALE 0 200 400 1" = 200' DRA'C~NG MAY HAVE BEEN REDUCED TOTAL AREA SURVEYED: 57.181 ACRES SURVEYED FOR &: PROPRIETOR: CITY OF DUBUQUE, IOWA DATE SURVEYED: JANUARY 2 2001