HomeMy WebLinkAbout1976-02-17 CorrespondenceTHE UNIVERSITY OF IOWA
IOWA CITY, IOWA 52242 it.I i! iii
Institute of Urban and Regional Research
102 Church Street
_ Arca 319: 3533862
-: _Office of the Director -
February 5, 1976
Mr. Neal Berlin
City Manager
Civic Center
_ Iowa City, IA 52240
Dear Neal:
I see that the Council is being asked to increase bus fares because'
of the budget constraint and budget uncertainty. As part of your discussion
with the Council, I, would like to bring to your attention and to the attention
of the Council the proposal contained in the original Transit -Development
Program that was discussed in late 1974 and issued in December 1974.
The Transit Development Program was prepared by the Institute
under contract with Johnson County RegionalPlanning Commission.`.` The
TDP recommended raising the basic fare to 25¢ but doing so in conjunction
with a token and/or monthly pass system which would both promote off-peak
hour ridership and reduce the burden to regular riders. The recommendation
was not adopted because there was a reluctance to absorb the administrative
costs associated with a token and pass system and additional state funds '
became available which eliminated the necessity to raise bus fares at that
time. Particular attention should be given to the monthly pass system.
The principal advantages of the pass arrangement are as follows
1 Regular users could obtain a discount on their fares if the
- monthly pass were sold for less than $10.
2. Off-peak ridership would be promoted since the pass _would
allow unlimited rides.
: 3. Change making by the driver would be reduced and thus the
loading time decreased for people boarding.
transit and reducing the employer's need for providing parking facilities.
- An employer survey is currently being conducted by the Johnson County
Regional Planning Commission, and one of the sections includes ten
questions directed at transit usage and the employer's willingness to a
subsidize the use of transit. Preliminary_ results indicate that there are
quite a few employers who might be willing to subsidize the use of transit
by Its employees, 15
Both tokens and passes could be purchased and given to people in
need of assistance, such as low Income, elderly and handicapped. Again,
the token or pass represents a guarantee to the contributor that their money
is being spent to provide a transportation service for the recipient. Services
such as this to population subgroups will be examined further under a transit
marketing studycurrently being considered by the Johnson County Regional
Planning Commission.
If the city of Iowa City were to implement the above program, there
would be an absolute minimum increase In fare revenue of 10% (or approximately.
$20,000 per year). More than likely, the city would realize an increase of
more like 30%- (or approximately $60,000) , since many people will either
continue to use cash or purchase a minimum number of tokens. It should
be recognized that there would be some -additionaL administrative costs In
a program of this type, which would reduce the net income to the city.
The cost of tokens and printing monthly passes would be the principal cost
If cooperating' businesses would handle distribution. Also2change handling
5-15
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52240 o:
L.0 1976
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FIRST CHRISTIAN CHURCH V
217 IOWA AVE. BOX 887 IOWA CITY. IOWA 52240 PHONE 337-4181
MINISTER:
_ ROBERT L. WELSH
ALL BELIEVERS IN CHRIST
The City Council February 10, 1976 -
City of Iowa City
Civic Center
Iowa City, Iowa 52240
Dear Members of the City Council_
On behalf of the Board of the First Christian Church, -I am writing this letter..'-
When we raised questions about the issuance of a permit for the COD Laundry,
the City Council and City Attorney agreed that it would be -good to draft an
ordinance that would address itself to the problem that exists throughout the
city.
One question that we raised had to do with the businesses being responsible__
for picking up litter.
In this' relationship, we would call your attention to Chapter 3.3 of the Iowa `
Administrative Code, having to do with Beer and Liquor.
If this is not enforceable in the city, perhaps it would be good to adopt such
wording in a city ordinance. This section makes it clear that it is the operator's
responsibility to keep the exterior "clean and free of litter or rubbish". We have
been advised that this would refer to the area, streets included, around the
business.
The second question we raised related to noise. In this regard, it has been
suggested to us that the city could adopt wording such as;
That noise shall be considered a nuisance if it can be
heard inside another business, residence or building
whose doors and windows are.closed.
This is a clear and easily enforceable regulation.
Thank you for your consideration of these issues. We await your action. -
Sincerely,
FEB 1 2 1976
-- Pat Harding ,
RS H:rew A B E ! E .`'.r T O Z F U S Chairman, Church I Zard
CITY CLERIC
February 26, 1976
14r.,Patararding.
Chairman, Church Board'
First Christian Church
-
_.. _ 217 Iowa Ave.
IIor 887
-
Iowa City, Iowa 52240
_. Dear Mr. eardinq:
Thank you for your letter of February
that your church 10. 1976,
.is
This matter has been h_referredt pthe
concerningthe
Stearn r
Laundry zestaurant.°
Problems
Miller, the Police and.D.
to Chief, on it in g with
Harvey
me that he had some Possible
be back in touch,
the'nearifutbreworThe
e. Chief
suggestions
-aid
indicated
with you after
that
we have considered might you.
f9e will
Please feel free to
- some of the
options.
contact me at.
or suggestions. Thank you.
any time if you have ,further
questions
_ Sincerely yours,
_Robert H..Powlin
Assistant City Attorney.
-
-
- -. Rll:,:mbm
- -. cc: riarvr_y Miller. Police Chief.
Coralville,is 522,41
rebruary 7, 1976
as members of the Johnson County historical 5ocieV
would like to express our interest in the old log
cabins located in City Park,
Je would like to suggest that the cabins be; preserved
and restored, and if at all possible, one left in the
present location, if the city finds that the mainten-
ence and up keep of tho;e`cabins are to costly, we
suggest that it at least be considered that they are
left in the Johnson County are.. Lf they -mere placed
in Johnson County -s parks and recreation areas, the
art of log cabin making mould be enjoyec4-by our
residents as well as_visitors-to our county.
hope
-that YOUwillconsider our recommendation.
.respectively,
k Mrs .) Plaomi Dvorsky
Pro -Tem
lrene Lockhart, Secretary
FFEB 91976 D
ADSIE STOLFUS,
_ Or( CLERIC'
a
ol
E.`+TER .il[t E WnSn:N OY 57 '
314.354.IR'0
Norlca
771E CITY COUNCIL OF IOIYA CIT}' IS CONS,
POUDIVINC BOARD: AN-APPOIN7�Igyy TO TILE
Board of Adjustment
One vacancy
January _, 1970 Five-year Term
Jainiary 1, -1981
Duties: In appropriate cases and subj°ct to appropriate
and safeguard make speciar ecceptions to o conditions
in harmony iv.itlt general purpose and -intent and terms °F
'the ordinances
era] or specific rules theic.in contained and provide that an
in accordance toith gen-
owncr aggrieved by the action of
regulations
'and restrictions the COLmcil ill the adoption ofrsucl
directly to nadif, - mz3y petition the said Board pf Adjustment
J regulations and restri.cti.onsas applied to such
property o:.� W S. It can only act
rt Ce. no power to act upon an pursuant to the zoning ordinance.
Prov deslfclrcumot grant a vari�ieealessSGother than ,the zoningi.ordi-
pecifi.c statuto
Chapter 41�1.]Zranting _variance. -Variances l;raittcd ry aut}iority
he `_�, �3) and 7oua City ? uni:cipal Coie-8, under Iowa Code,
b �nted'i.n the case of "unnecessary 1lardshi „10.2811 1 d y onl
be substantial., seriotts, real () ip y
P• - 7hc hardship'. must
- Crom reason -of convenience, maximization of profit ce caprice. .
, and of coli elling, Iorce, as distinguished
Iou<t City appointed memhers of boards
voters of the City' of Iowa Citd and -commissions must be
Februay 17, 1970 Y• liiis appointment mill be made theifie
p`r Cotmcil meeting at 7:30 P. �i.
ons interested in being considered for these -positions should Chambers in the Council Chanhers.
cont
arse City Clerk, Civic Center, 410 East Nashington. q
I%., rl.lah].c £rain the Clerx soffice-upon-request.
-- ppl.ication forms
`� •_
AJOIN7
VENTURE of
OLD COL BUSIN
_ �: ESSCENTERCOMPANY --
�, APIT
-..:
- - "- alntl
.:
OLD CAPITOL ASSOCIATES MEADOW LINK I NCORPORATED6
February 16. 1976
City of Iowa City
Civic Center:
410 Washington Street
Iowa City„ Iowa 52240
ATTN.-Mr- Paul Alexander
RedevelopmentCoordinator
RE: Urban Renewal Contract dated Ma
Parcels 81-3 rch 19, 1975,
and 81-4
Old Capitol Associates is
preparation the fin
in the stages of
for the construction of
be known
an Office buildin
as Plaza Centre One, on the_reference'to
One of the _
- prerequisites
t ,.
to this Property.
submission to the Cit construction is the
mortgage Y, of
evidence of equity capital and
financing;
Total development
,_ $3,3
tobe $310,000.00. cost for this improvement is
Projected
Subject to approval by the City Cou
Associates plans to sell ncil, Old Capitol the
Centre Associates for their
referenced property to Plaza
the, Urban development in
accordance with
Renewal Contract. Plaza;Centre Associate's," b t
r
signatures affixed 'hereto, `certifythat_the heir
amount $750,000:00 Y
equityavailable to Y have funds in the
equity to
complete the develo ment,1 1
Provide the necessary,-
,the
of subject property.
PLAZA CENTRE ASSOCIATES
i1) Old Capitol Business Center
Company, an
Iowa -limited
Partnership,
U FEB 16 1976
BY xieron Corporation,
Partner general
".
ABB(r STOLFUS
CITY CLERK
By Investments Incorporated,_;_
general Partner
DEDICATED TO REBUILDING AND nEAUTI FYING IOVIA CITY
- T^IePhone 317-351-S275,317-077-4770
_..
- Drawer Iva
Iowa City, 10wa 522x0 -
- 1
-improvements to be conslracted on fne eSove:'revl estela`s
With plans of ccifications de Posited _ boll Se r.
P d with and op r -cons rutted rn actor dente
.. construction,_ 00 nc.eriol Cho n p,C( bY.You prior,to'1he coamencer-
_ - Ses shall.Se made: with, - nt °( '
our prior written consent,
9. Tax .��J 1---.,.�� Deposits. 1.lonihl
c✓J3ta Xt..•+ Y deposits of 1/12 0( the a;timafrd }e
6• o
_. _...zsoursd;lt�sn>va.Yt;xv;'•x>•?!shall I estate -tcxes r- t
_ mode.
:. 10. Fees; 1Vc agree to Pay appraisal fees as well 0s all lender'
s vflorne 's ,
escrow deemed necessary by you. At Corney ree5 not _ Y fees and the costs or
any
to exceed $5,600.00.
11. Identity of Borrower. Ti -
tic to the said real estate will be vested in: the '1
and rrust, _Iowa City, Iowa as trustee.
owa State"Bank
The following named persons have Clore said land (rust) �'•�� •.•vv eon inter crest in Inc. subject ro ort - f -
Meadow p Y as (ben under :he
1�cadow Ltnk,_lncor a wholly --
Mined 1)X$\st;:)'1X�%'
Programs, Inc. whose incited t y oa:nod subsidiaryIl
and'Ivan Himmel. Principal stockholders are`.TrizecCorporatLonk
. ,Ltd-
. - If the mortgage instruments arc executed by ° Trustee or Cvrporolion the
of the right of rcdenPf;on. - -
- - y shall contain o waiver
12. Leases We will deliver and assign fo you all leases relating to the subject real cstot e.
13. Documentation In the event you issue or
obtain ° commitment (or Inc sub-
. your demand Io peon tl e.e u.e r cause to be executed and delivered fbject loon, we
merits reasanobl p"I &ar�� an� agree on-
find udin Y/ qu,red Sostructure and irplemenf .the You all rnortgogedotu-
9 but without. bei ng limited 10) a - - mortgage Transaction herein
note,. vssignmenf of °leas e - P'omissory: note, mart ° e .scriSrd,
or leases, assignment of rents S or trust deed -securing
..-surd
monis, usury affidavits, estoppel- _ security agreements,
certificates, cons ruction loon o reenenls financing sec e-
cerii(ied Copies of trust agreements and letters of S
direction, tenant's of(scorparote resalufioris,
survey, and such other inslrumenls. or supporting doe umenlafionY•vst2�•y,
et sfofemant plain(
t�r':��c in form mutually agreeable 'Lo the parties r fix,
cn
)L ct�rw a as.
j � 14. Evidence of L;°rkefable Title IYe agree fo furnish you-a.commilment (or title insurance' .
Ltl Io you, and °n ALTA`m°r1g°gee's policy e� 1'— U - paramount lien, and P Y of title insurance, i s . ace epfable
U canto i ninga specific guaranty_ over. questjonsioG user mortgage as ° (first and
- exceptions which rnoy be accep;oble In you.
o L�I W - - _ - - Y. subject only to such
U 15. CO�mist{ons: In considerc:jun of BA -
�l Il mitme 1.!orlgagc abi^inina or issuing ° Commitment,'
nt) in occord°nce with the shore
mutually agree, we will ° - - -terms'20 under or upon such other terms eo an (Com
P y You $ (or (;of the permanent l s as the partes r a
-which Commission shall be considered earned 6-- loan amount Y
- InNmeni., and. the accept - Y You upon the issuance ond'd.
cceptance by the lender of livery of the Com -
paragraph N7;
- r 16. 140r1goge Commitment: TheCommitment shall be in 1-11 force (or °
- non:hs from the date of issuance. period of 21 -�
17. Standby Fee: Concurrently wish -
iter of credit form z,xS;the torthe r•suf anhe of 'he itrnent, we agree Cod
sum o($Jf-]- -,Zoo 2S`_r t cposit with ou r
as °.standby feetoassure- '-L'-e�-k--1 Own --cm-OL n Y n
performonce by Inc borrower o(;ail }crrrrs and Provisions _ mrfrrnt, and c0mpleGon by the Lorrower of :he loan tout -r c•d hercli
ov•_ of said C
under any. of the provisions of the Commitment - 1^ coda o
m-
You me c Y• of ° d='eau b
_-.�7''J'O("rCx✓.•�j7?L>f6X don° es �: Y ??IY the standb fee- a5 t Y us-
-- -, 9 l..c�fx . Y -3^. �cn p-� n•,Yx'
liquidated _.
is !.p rain ncnt of BA
da s from o ° cage:ye heresy. give you, he sale and exclusive riah( (or 0
-.J r da c hcr_°f lo.o�..cin or r. _;,e a cvr.,mitmr ° f•errad o: YL"
hereof, failing v.hich weshallhave-,e`riShi, at v:rr u ion,tun ten (1.0)nd�cyo-do-
ncc wrf•tInc erms'
You to cantcl this A•. I• P}
' rPl;cetion; and we agree to furnish you with
.Y error wrr en'na ice to
., .. . Y. h aadrtr0�c1 -r
in.arna eon'
-;circ, doting soil_p^_riod, to_C,sist vaa in'P,carirrg tlC.Ca 1r CG•nt If V
The lawn af✓ seance of the Ccmmi •e:nt 'fcil to cons., �eic-.
•
we'bave mils - or i( we fj —'o fulfill ourobL got. ons hereunder or rf'
- wsented or failed to drsrlose any Oct foot,
ment liabilityon
wilhoul You may cancel' :be loan commit-.
your pert and odditionclly-we agree
to pay You as liquidated domoyes fond—
not as o penalty or forfeiture) the amount 7of the standby fee,., jrg
_
-X
If I( the,. loan is completed in'oceordonce
with-Ihe i rmVY
in compliance with the Commitment, the slandSy fee o•end."
be
shall raturned,to us altar Ther
_. of your commissions .aa•�cXxX:ocp-aScstY�.xv,�t p y.. enj to
_ you.-
-
19. Governing_ Low: Any loan mode in response to
this, Opplicotion shall be consrue
with the laws of the State of.D7X):XiU Iowa, _ _ tdin occord,.nce
-
20.. F`.rcvsov XciCtn XYXn>vrv_nYXXXa:)iiioi):K )•yX v -
-
-•
21. Good Faith Deposit: A cosh deposit or 5.5,000_00 - •.
-shall
such funds is enclosed with'tne proviso that
be applied toward payment of
our if the fceesaid
- is obloined_or_issue d in accordance
-the rin
rrilh the to ms l erreo(ror
as occorda nwiih such other terms!
ponies may mutually agree. And _with the further
by
--
proviso that. such deposit .shall 6e'`re:urned',
you to the undersigned in cese you fail 10 obtain or issue The commitment
es rrquired,here:urned
r.
CONSTRUCTION LOAN
For the purpose of theconstruction loan to
• - - - -
applicable, towit:' be mode hereunder, the following conditions
shall be.
22. Amount: 5 2,560.000
-
Less uny,'rentol achievement Iroldbock reserved in the Commit
permanent lender advises ment for permanent -loan, until th
- that such holdbackhas
been waived, or is no in elect, or,;lio1 ih c:;
rental requirements set forte
h in the Commitment have been
-
met.'.
23, Interest Role: 2 _ o per annum above The .vorioblc p:imc rate f Bank o .America
effect from -time
to time o able.mon; 'Sx'. +K -AX in'.
P Y hly rnjanears.. In
structuring the construction; loon you mays:
reserve from the loon
- estimated by, you, to- be
used to.; pay the monthly instell-(
construcroccedstion
mems-oF interest on ronstruciion loan disbursements mode from Gm
roan
- -
f- time.
24. Construction Loan Term: The construction loon mustLLopened, and the first
buneme-mus_--
mode
nt be Thereunder within 0 -consiruction'drs_
- -
Commitment_ and furthertheconstruction loon9. will expirde)s:fr.1m the dole of'issuonce of the'.
Q -
- -- thereof, of v.hich time the subject improvements must be completed in occordonce:writh;theepans:
.and specifications, and Certificate
�r
a of Occupancy shall have been issued b
governmental authorities. y proper municipal
L"
or,`
O
- 25_ Disbursement of Construction Loan: Disbursements under the construction loan -90/0
rem vD _)••-.•u
U
-.-.
not fo exceed
of the value Of labor and material in place, will be mode monthly. during
•—t :_CQ
oLLI
the period. of construction.
in accordance with the standard form of construction loon agreement of
or supplemented
1i1
your company, of amction,.�
a
to conform to the -conditions and this �I
LJ_stipulo}ions
of application for can.
26. Consulting Architect: At our expense, 0A Mori goge's
consulting architects; analysts, engineers- or
inspeeti0n personnel -will reviewandapprove all Ions and specification,,
construction
_.:. and will ins
_p-cl cIl'
and approve the same as a condition precedent to each
cons lruct ion disbursement.,:,
27.v�i �_c)KLv)PYX)cYIX XXXY%vt)`?XYzXtvo�i}rv3Y.liin�y YnoKY:},Yf>cX!?Y�
:, Yti?rx Ys�?:):k,.)Jr....t..Y.''Ay )•••
7:r.,..f.>.`li'II.))ix xo}. rJ,,1X,)f(Sa}v7X�Y•Y.iiXShYXv'rX :XKkY:i?�r Y';:vim.
Yc.,,.�Y>>-rfYt��,� y ?':X...XiaC�(x.,, r'•y �' _.., .. � -' _-: ::
sC� Aytr)::
?B: Performance Bond: At ;i�XT YS�)
- mate6al Your reques!.we agree . '
PoYment.: bond cove,;., ;he to furnish
BA 1t1or t9a9e will be the constr You with a
Perrot once bonds and sole,. or dual obli'en controct with the_;,en Pert,
in and or P or man ,-ted:
acCe will be wriHen 6 5 e' Said_ bond will: be conJroc)or{un�e, „hicb
_. P7a61e to you.:` y such surer - inth_'-
y c6m an xa.dardform of AIA.`.
- - ;'any or componics cs . ba
zg•`.GeneralConditians• - - •'`>- reosanc6ly
a• Fee -
s °^d Expenses: lye a :.
- s!ruction lender es w• gree to pay, the fees
cording and re ell as oil title
clmrges,'thef 'Pe
cial --- -
pP red lease fees incurred in - !ssuancecof. inter�or �hq. Permanent and con.
.-. loons ❑� !' r nnection m litic
or hereunder, with the ccrtMccI-
and a5 construction and
Provided for is Paragraph
�.. b. %oning-Uhlr ies•..:'$'e o - Pernonentnortgcge•,-.
---"-`�_ gree_: to furnish # 1 p
v - aPPlicoSle Icws andordi you with sa;is(a -- -
-ovoilabilit ponces rel6-;,_, to the clary evidence of
u, Y of U..;];,;, -s
and related Project, including SanPbcnce-
services• 9 .oning. EPA with all ,
C' Bu - compliance o.d
Y• -+ell Agreement If ,
Bu SeI��-- equired b -
We
o d. Entire Ag eemenleen enT CS ^tUJc XSxSKy of
�J :I f �dt:3CYv agree y� enter into a lhre a -par!
c !,,�,
withwith t1�- bis a?plication _. "h77 XUM - Y ;•
c and .11 c
loon eol to be xhi bill
�- Porlies h - co,mmC. - -:
rreto issued Jrereu. a7lachr.d or rererred
_ c%cep' s her ea it er nder shell - to_lice-
0 r
expressly mended const, tu:e^, toga S -r
30 Other Condit- o - - eme or modified 6 .t a entire
�. oc- ns: agreement. of ne
- -U — Y. then in writing-
:- a-
m m A fee of 1 ri
earned and , Of the construction
0 0. t for Shid tO 5A hlortgagI forloaaobtaint is to be cons idered
'• n - arliou
co inn i tmen -
L m.. herein._ -._Said Construction . loan Hing Or--'. r.55Uing,'a
W v fee may Paid out of firs�ccordance with the terms '
b- A cash fee of with
-loan draw:
m Payable $30,9pp or 1.5% of
17 to the first mortes the first rnort
aPPlication.-: This fee is 9a )ender upon the sage'amount-'is due
"and
BA Mor, in add, gni.
u 3 - ` a e of Chico tion. to the g - 9 of Lhe loan '
to c C. Acocelerat. on 0n Paragaphrl5ecuring a permanent loam CO, 7tment to
— m PEion - Mor'
o inx25G�ea�sths notice ofLrequer�r�s the option in the 138th. mon-' as
. uU ,_iP exercised 9 a_recastin(6�f the `h upon
loan at -no charge mortgagor has loan
arnortized- If not Prepaid SIJ months to Pay out
Fc .c at 10$ -. 13 .years of a ,-the remaining loanbalance-
fo_. Prepay the
d constant of13-78%-p
balance is
It is understood 13'%8$ Per Year -
Opp
that this ear -
for Permanent and OPPlication is
will construction financi for a combined
not be acceptable. ng and commitment_ -
that either b
e' The pery itself
Perm, loan commitment
Y "bankable, to be issued shall b
to co.cmiLments such as that term is customari_1 a considered
as will be issued pursuant to used -with respect
O LU f' ,See attached page this aPPlication.
`4' F— -
o w
LU
IM
\K� `
A?plicont
o :Tit
le
x.
7
- AMENDED
REAL ESTATE CONTRACT
IT IS AGREED THIS 17th day of February, 1976, by_and.between
'OLD CAPITOL .ASSOCIATES, -+.an Iowa-._jointventure, Seller, .and PLAZA `
CENTRE ASSOCIATES, an Iowa joint venture, Developer:
W I T N E S S E,T H:
WHEREAS, The City of T_owa City is engaged in carrying out an
urban renewal project known as the "City-University Project I, ,.
Urban Renewal Project No. Iowa R-14" hereinafter'called`the
Project", and
WHEREAS, The City of Iowa City has prepared and adopted an
Urban Renewal Plan for the Project-(which plan as now.or.hereafter
amended from, time to time pursuant to law, shall hereinafter be
referred to as the "Urban Renwal Plan") and
WHEREAS, The Urban Renewal Plan -has been recorded among the
land records in the Office of the Johnson'_ County-.Recorder in
Book 166F at Page 21 and has been filed in the office of the Clerk
Of City located at the Civic Center in Iowa City,-and
WHEREAS, The City of Iowa City and Old Capitol Associates
believe that the fulfillment generally of the Urban Renewal Plan`
is in the vital and bestinterestsof the City and the health,
safety, moralsandwelfare of the residents, and
_ WHEREAS, An Agreement between the City of Iowa_ City and Old_
Capitol Associates was executed on the 19th day of March, 1974,
for -_the purpose of setting forth the terms and conditions under _
which the City of .Iowa City would sell land to Old' Capitol'Associates,
and which became effective on the 7th day of November, 1974, and
WHEREAS, The Urban Renewal Plan and Contract provides for the
staged redevelopment of the project pursuant to a master:; plan,-
and
WHEREAS, Old Capitol Associates is to coordinate all redevelop-
ment in accordance with the Urban Renewal Plan and Contract,.and
WHEREAS, In furtherance of the Urban Renewal Plan, the
parties hereto have entered into this Real. Estate Contract, and
-- WHEREAS Old Capitol Associates desires to sell and Pl.aza
Centre Associates desires to purchase certain real property to be
improved located in the Projectareaand more particularly described
below,
_Z_
•`
NOW THEREFORE, in, consideration of the mutual agreements._
contained herein and the performance _"thereof, the Seller agrees to
sell and convey to the Developer or its nominee
agrees to pay for, the following -described real es
, and the Developer
Johnson County, Iowa, to -wit: tate located
Lot 8 and the east 40 feet of Lot 7 in Block , Original Town
Of Iowa City, Iowa, 81
together with any easements and servient estates 'appurtenant
thereto, upon the following terms and conditions:
1.
PURCHASE PRICE. The -total --Purchase price for said property
shall be the sum of One Hundred Eighty -Nine Thousand Three -Hundred .
Seventy -Five and no/100 Dollars ($189,375.00), payable to the
Seller at 109 E. Burlington Street, I
the City of -Ii
owa city Iowa on the date
Seller pays'
owa City for the and. -
2. TAXES. Seller agrees to pay all unpaid taxes against th
property due or to become due and payable for the period ending on
taxes. e
the date of possession and Developer shall pay all
3. POSSESSION. The Developer or its nominee, concurrent with
due performance on the Developer's part, shall be entitled to
_possession of said premises on the date of closing under paragraph nl
hereof.
9• TIME IS OF THE ESSENCE -
Time is of the essence of this
Agreement. The failure of Seller to assert its rights herein:
shall
not, however, be a waiver of such rights or a waiver of any existing
or subsequent default.
5. EXCEPTIONS TO WARRANTIES OF TITLE. The warranties of
title in any Deed made pursuant to this Contract shall be without
reservations or qualifications, except-
a.
xcept:
a.,Zoning Ordinances;
b. Such restrictive covenants as may, be shownof record;
c. Easements of record if any;
d. As limited by the provisions of this Contract;
e. All terms and conditions of the Urban;Renewal
Contract and all amendments thereto now or which may hereafter
become effective;
£. A covenant not to discriminate upon sof race,
or in
creed, color or national origin in the sale, le,the basi t -he use_or occupancy.of the property. aseor rental
6. DEED AND ABSTRACT. Upon full payment by -the -Developer .of
the amounts to be paid by it under this Agreement and upon full
per of all of the agreements to be performed by it, the
• -3- •
Seller agrees to execute
conveying the real and deliver. a Special Warran t
its nominee Property herein described Y Deed,.
free and clear of all the and encumbrances°except
as otherwise expressly
agrees to concurrently agreed to herein and the.Seller further
title, for said Y deliver to the Developer
accordance w' real estate, showin P an abstract :of
with the Iowa Tit].s g merchantable title'in it, in
Provisions of tnis Standards and in '
Of title to `the Contract. The Seller conformity
wi h tne-
Deyeloper for shall deliver the abstract`
after the;execution examination within'
been accepted and °f this Agreement and a reasonable.'time
be required to approved b after the abstract-has
make -the Developer, the Seller._shall not
except for entries any further conLinuation
Seller. resulting from the acts °r corrections thereof,
or omissions'of the
7. ASSIGNMENT.
Of the This Contract shall not be assigned parties before the cert. shall
Com gned b
improvements is issued b Y either
Y the Urban'Renewal
covering the
RenewaL,Agency-.
" $• CONSTRUCTION - -
shall . all OF IMPROVEMENTS ON THE PROPERTY.
Improvements on the g.
necessary to complete the Developer
Renewal Contract real estate construction of'the
includin in conformity withlthe:Urban
site Plan, design of the g but not limited--to development of the
para Li on of plans and building and other improvements,
-of the building specifications, site pre
finish work. g-and other improvements Preparation, construction
The Cit and-interior and exterior
Parties hereto Y of`I°wa City shall be considered b
and commitmentstofbe a third party beneficiary Y the _
in connection the Developer hereunder. y of the obligations
Developer therewith shall be borne b All costs and
P shall further Y the Developer.; Thepenses
all costs,-liabilities indemnify and hold harmless''-the
arising out of an claims and, damages or ex Seller from
the Developer or itsork done by, or act of neglectpenses due to or
or licensees servants, employees _or omission of
in and about the agents, contractors
any breach by the Developer o£panperty'or due to or'arisin ' invitees
- Y pro, ision'of this Agreementt of
9. ATTORNEYS' FEES.
any court to collect an In case of an
the lien Y sums payable or securedon or proceedings in
or title herein of Seller herein
law in which attorne , or -or to ,protect
imposed u Ys' fees ma ted other case permitted b
upon it or u Y be collected from Developer or Y
agrees to upon the above-described real estate
Pay reasonable attorne
Ys' fees. Developer
10. --SELLER'S OBLIGATTONS UNDER URBAN RENEWAL
Provisions of this Agreement do not constitute
assignment of the CONTRACT. The
Seller s interest a transfer or
in the Urban Renewal; Contract'
-4 -
and no provision of this Agreement
obligation. to the
reli eves the
Seller of its
City to cause the construction of the improve
mints on this parcel of the
-
tions under land or from any of its
the Urban Renewal Contract. other obliga-
11. EQUAL EMPLOYMENT
the improvements
OPPORTUNITY.
;Darin
During the construction
the tothe real estate under this Agreement,
the Seller and Developer
_both
shall comply with all a
of Section 8.02, Part II of the provisions
Urban Renewal Contract.
12. APPROVAL BY CITY,
approval of the City
This Agreement is subject to the
Renewalwritten
Agency and shall be
of Iowa City ;acti.ng-as the Urban
nulland-void
endorsed
endorsed hereon.
_unless such approval is
OLD CAPITOL ASSOCIATES
PLAZA CENTRE ASSOCIATES
By Old Capitol Business
Center Company (an Iowa
By HL, (A Partnership
Limited Partnership)
A Partner
BY
�j
R1c and F
H nsen Partner
B1'_Ll�. /t1 J.�ii
wilfreda Hteronymus,��"""`J
By.—�1
President, Hieron, Inc.,
.John H. -Lind, ;Partner
an Iowa corporation
By Old capitol Business
n
Center
Company,
By: `
(an Iowa Limited partnership)
Jay Oehler, Pres9:dent
Investments
Incorporated,By
an Iowa corporation
W111reda Hieronymus p esidn t
By Meadow Link,Incorpor.ated,
Indiana co oration, artner
Hieron, Inc., an Iowa corporation:
an By
�
By /_/Gn4_4C1
Jay C O h er, President
Investments Incorporated,
Donald Scatena,lee
an
Iowa corporation
President
APPROVAL Or SALE
hThe City of Iowa City, as the Urban Renewal Agency, does
ereby approve and consent to the sale aof,.the Urban Renewal
`Parcels 81-3 and 81-4 (also described - `east 40
feet Of Lot 7 in Block 81, s Lot 8 and the Original Townof Iowa 'Cit y,'Iowa) 'by
-Old Capitol' Associates to Plaza Centre Associates`under the terms
im the foregoing contract upon t -he express;: condition'tNat the
improvements to the land shall be constructed according; to the
construction plans and the construction schedule or be :approved
by the Agency, and that Old Capitol. Associates and Plaza -Centre
Associates shall both remain liable and responsible for.; the
development of this property until the`- improvements are completed
and the Certificate of Completion is issued.
IN WITNESS WHEREOF;_on this /74, da
Agency has caused this A Y of February, 1976, the
name and behalf b Approval of Sale to -be duly executed in.its
affixed and atrn��.,at�__M..or-and its seal to he
C
c.��fr Vis! i , - -tip. e•. si ,.. a r
• 1 i� - - - 4 t S � •5.
''i '+ f 70.E Olfkial Forn. 1v i31.0 (rwnror.er) �+c '� s
-r
AbIENDbIENT OF CURRENT l
CITY BUDGET
NOTICE
- _- r
The Council of the City of�c U1.
Iowa will meet at �7 u / +(name(s) of count or w-.-e County,
_.-c.�C�'F c v-- at __�� o r y _
(Placa of meeting) _ on
for the purpose of amending thecurrent budget of the city for the fiscalyear�endmg June 30, 197. 19�
of revenue and -- (date)
expenditure appropriations -in the following funds and - TP . by ehan in
Programs and for the followin re g g estimates
Funs- d Change in R..enue Estimates - g reason
General Available balance- /� /!e 4 , G
from S._'_.g�� Zo3 :.
to $ -
to
- Total- from-7 / /6.5; •%Z
0 3
-
Reason : To permit expenditure of.vnanticiQated unencumbered cash ba
A
- CCCC���� _ glances.
_.
to
Current revenue estimate from -
to
Totalfrom
to
S_ _SFJ shy
Reason: To permit the exRenditure of amounts unanticipated from sour
other than property taxa
ailable balan from
Utility Curre t re enue estimate
from $
to
Total from $. .. - '.
to
anon:_�
There will be no i� — �_•.`_....."'_- -'-•--•- -- _ _ i
. jh,,se in tax levies to be paid in the current fiscal -`-��-�----
-Pro ram Year named above.'
Change of Expenditure Appropriations
Community Protection -
from to
Reason: _ To permit the expenditure of,unantic% ated unencumbered cask ba
and unaanticipated receipts. ------ — lances
Tiuman Development --- - - :. .:
from/P3— -
rr
to
Reason: ._-•--- - - : .'
Home and Commumt'. - _ from $��r. '.
Rt
n
Reason.
Policy and Administration
u from S__l-,-fiJ_L�.-.G.--y _
to
i -
Reason - _
-. Any increase in expenditures set out above will bemetfrom the increased non- -
budgeted or considered in this current budget. This will provide for a balanced budget.
Property tax revenues and cash, balances not
City Clerk
-.Instructions: Publish only those lines which are used for specific funds or programs and which are filled in. Thenbov
of notice. may he one column wide and may include.-one or more funds. IC must be, ublishe, not less=in. four_
before the hearing, provided that, in cities of Less than 200 population and in such ties only, such notice tea a form
three public Places. After the -Public _hearin - ;(4) days
which anion shall be made the
g the council-shall adopt by. resolutions the..amendment-as y-be Posted in
-... matter of record. For detailed information, see Chapter 385,"division.II, Cada off Towa.ermrned:
Certification of publication: I hereby certify that the above notice was published -
- (Posted in three publm place as 'r
fished by
a
ordinneetab
ce): in _ - - - >::
v `_ (name of newspaper) on
-
City Clerk
•; rai - I. ° �.. i� w ._'i'" > C: 2 1 ^'f '- a ecus � <T� V��