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2025-01-30 Info Packet
City Council Information Packet CITY OF IOWA CITY Council Tentative Meeting Schedule IP1. Council Tentative Meeting Schedule February 4 - Iowa City Conference Board IP2. Iowa City Conference Board Meeting Packet: February 4 February 4 - Work Session IP3. Work Session Agenda January 30, 2025 IP4. Memo from City Manager & Economic Development Coordinator: 21 S. Linn Street Redevelopment Proposals with Staff Recommendation IP5. Pending City Council Work Session Topics Miscellaneous IP6. Memo from City Manager's Office: Housing Information IP7. Memo from Neighborhood Services Coordinator: Revised A2A Program Policies Draft Minutes IP8. Airport Commission: January 9 IP9. Senior Center Commission: January 16 January 30, 2025 City of Iowa City Item Number: IP1. CITY OF IOWA CITY COUNCIL ACTION REPORT January 30, 2025 Council Tentative Meeting Schedule Attachments: Council Tentative Meeting Schedule City Council Tentative Meeting Schedule r `fn Subject to change ; �� CITY OF IOWA CITY January 29, 2025 Date Time Meeting Location Tuesday, February 4, 2025 4:00 PM City Conference Board Meeting City Hall, Emma J. Harvat Hall Work Session 410 E. Washington Street 6:00 PM Formal Meeting Tuesday, February 18, 2025 4:00 PM Work Session City Hall, Emma J. Harvat Hall 6:00 PM Formal Meeting 410 E. Washington Street Tuesday, March 11, 2025 4:00 PM City Conference Board Meeting City Hall, Emma J. Harvat Hall Work Session 410 E. Washington Street 6:00 PM Formal Meeting Tuesday, April 1, 2025 4:00 PM Work Session City Hall, Emma J. Harvat Hall 6:00 PM Formal Meeting 410 E. Washington Street Tuesday, April 15, 2025 4:00 PM Work Session City Hall, Emma J. Harvat Hall 6:00 PM Formal Meeting 410 E. Washington Street Monday, April 21, 2025 4:30 PM Joint Entities Meeting Iowa City CommSchool District TBD Tuesday, May 6, 2025 4:00 PM Work Session City Hall, Emma J. Harvat Hall 6:00 PM Formal Meeting 410 E. Washington Street Tuesday, May 20, 2025 4:00 PM Work Session City Hall, Emma J. Harvat Hall 6:00 PM Formal Meeting 410 E. Washington Street Tuesday, June 3, 2025 4:00 PM Work session City Hall, Emma J. Harvat Hall 6:00 PM Formal Meeting 410 E. Washington Street Tuesday, June 17, 2025 4:00 PM Work Session City Hall, Emma J. Harvat Hall 6:00 PM Formal Meeting 410 E. Washington Street Tuesday, July 8, 2025 4:00 PM Work Session City Hall, Emma J. Harvat Hall 6:00 PM Formal Meeting 410 E. Washington Street Monday, July 21, 2025 4:30 PM Joint Entities Meeting City of Coralville TBD Tuesday, August 5, 2025 4:00 PM Work Session City Hall, Emma J. Harvat Hall 6:00 PM Formal Meeting 410 E. Washington Street Tuesday, August 19, 2025 4:00 PM Work Session City Hall, Emma J. Harvat Hall 6:00 PM Formal Meeting 410 E. Washington Street Tuesday, September 2, 2025 4:00 PM Work Session City Hall, Emma J. Harvat Hall 6:00 PM Formal Meeting 410 E. Washington Street Tuesday, September 16, 2025 4:00 PM Work Session City Hall, Emma J. Harvat Hall 6:00 PM Formal Meeting 410 E. Washington Street Tuesday, October 7, 2025 4:00 PM Work Session City Hall, Emma J. Harvat Hall 6:00 PM Formal Meeting 410 E. Washington Street Monday, October 20, 2025 4:30 PM Joint Entities Meeting City Hall, Emma J. Harvat Hall 410 E. Washington Street Tuesday, October 21, 2025 4:00 PM Work Session City Hall, Emma J. Harvat Hall 6:00 PM Formal Meeting 410 E. Washington Street Monday, November 3, 2025 4:00 PM Work Session City Hall, Emma J. Harvat Hall 6:00 PM Formal Meeting 410 E. Washington Street Tuesday, November 18, 2025 4:00 PM Work Session City Hall, Emma J. Harvat Hall 6:00 PM Formal Meeting 410 E. Washington Street Tuesday, December 9, 2025 4:00 PM Work Session City Hall, Emma J. Harvat Hall 6:00 PM Formal Meeting 410 E. Washington Street Item Number: IP2. a CITY OF IOWA CITY "QR T-4 COUNCIL ACTION REPORT January 30, 2025 Iowa City Conference Board Meeting Packet: February 4 Attachments: Iowa City Conference Board Meeting Packet: February 4 OFFICE OF THE IOWA CITY ASSESSOR JOHNSON COUNTY ADMINISTRATION BUILDING BRAD COMER ASSESSOR MARTY BURKLE CHIEF DEPUTY TONY STAN MLER Dkpu,rY January 28, 2025 Dear Conference Board Member: The annual meeting of the Iowa City Conference Board for the consideration of the Iowa City Assessor's FY 2026 budget is scheduled for Tuesday, February 4, 2025, at 4:00 P.M. at City Hall- Emma J. Harvat Hall. Enclosed for your review before the meeting are: 1. The Agenda 2. A copy of the March 19, 2024 minutes. 3. The ProposexI Budget 4. Annual performance review responses provided to the Assessor Evaluation Committee (completed by the Assessor) 5. A salary survey 6. Board of Review Application 7. Examining Board recommendation 8. The 2024 Iowa City Assessor's Annual Report There is an increase in the amount to be raised by the Assessment Expense Fund from last year's amount_ The changes consist of: a. $ 15,014 for a 3.40 percent increase in salaries of S20,409 minus $5,395 for an open appraiser position b. $ 14,727 for merit increases c. $ 2,275 for an increase in FICA d. $ 1808 for an increase in IPERS e. $ 7,134 for an increase in health insurance f. $ 300 for an increase in life insurance, which is based on salaries g. $ 2,100 for an increase in software maintenance (appraisal software) h. S 700 for an increase to worker's compensation insurance i. $ 400 for an increase in dues j. $ 2,500 for an increase to aerial photography k. $ 8,000 for an increase to auto replacement reserve fund $ 55,958 Total Increase This increase is onset by the following decrease: 1. $ 6,500 to decrease postage, an alternate year expense m_ $ 2,200 to decrease printing, an alternate year expense $ 8,700 Total Decrease $ 47,258 Net Increase 913 SOUTH DUBUQUE STREET a IOWA CITY IOWA 52240 TELEPHONE 319-356-6066 The Assessment Expense Fund levy rate will change from 0,23971 to 0,23894. The increase in salaries is based on a 3.40 percent adjustment that Johnson County expects to use, similar to a cost -of -living increase. The enclosed salary survey indicates that our salaries fall below those of the most comparable assessment jurisdictions in Iowa. There is a decrease to an appraiser position due to the retirement of a long-time employee. The expected starting salary is expected to be at least S5.395 less than what was budgeted last year. Merit increases allow step increases similar to the pay plans used by the city, the county and the schools The increases above are also reflected in FICA and IPERS. Health insurance was increased based on the potential to provide family coverage to all employees if needed. The budget was short of that number last year. Employee life insurance premiums are based on salaries and must be increased when salaries increase. Software maintenance was increased to pay for rising costs from our appraisal software company. Postage and printing were decreased, because 2026 will not be a reassessment year and we will not be mailing assessment rolls to all property owners. Worker's compensation premiums are paid through the City of Iowa City. This increase is based on the annual increase in premiums. Dues were increased by S400 because of increasing costs. Aerial photography was increased by $2.500 aver determining what our share of the total cost will be for the next round of flights. The overall cost is shared with other departments and agencies. The auto replacement reserve fund was increased by $8,000. This account builds each year and carries over until a new car is needed. The City Assessor Evaluation Committee of Bruce Teague, Mandi Remington, and Molly Abraham, met on January 24, 2025, to review the performance of the Assessor and the proposed budget, Please feel tree to contact me if you have questions about individual items or wish to see any of the supporting documents for this budget. Sincerely, Brad Comer Iowa City Assessor bconiera johnsonc. oun[yiowTMa.go�� (319) 356-6066 JOHNSON COUNTY IOWA CITY IOWA CITY BOARD OF SUPERVISORS CITY COUNCIL COMMUNITY SCHOOL BOARD The Iowa City Conference Board Agenda Tuesday, FebruarV 4 2025 4:00 PA A. Call meeting to order by the Chairperson (Mayor). B. Roll call by taxing body. C. Motion to approve minutes of March 19, 2024 Conference Board meeting. Action: D. FY 26 Budget Comment — The purpose of this meeting is to set a date for a public hearing on the Iowa City Assessor's proposed budget for FY 2026. 1. Assessor presents proposed budget (included in packet) 2. Discuss proposed budget. (Possible closed session, pursuant to Iowa Code Section 21.5(1)(i), to evaluate the professional competency of individuals whose appointment, hiring, performance, or discharge is being considered. A motion must be made to adjourn to executive session.) 3. Motion to approve publication on proposed budget. Action: E. Motion to set date for public hearing. (Suggested date: March 11, 2025) Action: F. Present Board of Review application 1. Appoint Board of Review member Action: G. Present Examining Board applicant 1. Appoint Examining Board member Action: G. Board comments H. Adjournment. Action: The Conference Board vote as three voting units, with a majority of the members present for each unit determining the units vote. At least LNvo members of a voting unit must be present in order to vote. A quorum is reached when at [cast two members from two units are present. IOWA CITY CONFERENCE BOARD MINUTES March 19, 2024 City Conference Hoard: March 19, 2024 at 4:00 P.M. in Emma J. Harvat Hall at City Hall, Mayor Bruce Teague presiding. Iowa Citv Council Members Present: Bergus, Harmsen, Moe, Salih, and Teague_ Johnson County Supervisors Present: Green and Sullivan. Iowa City School Board Members Present: None Others Present: Comer, Fruin, Goers, Jones, Stammler, Lehmann, and Grace. Digital Recording: March 19, 2024. Chair Bruce Teague called the meeting to order. Clerk Comer called roll and stated that a quorum was present. The County (Green) moved to accept the minutes of the last conference board meeting, February 20, 2024, the City (Bergus) seconded and the motion earned unanimously 2/'0. The Iowa City School Board, having no members present, did not have a vote recorded. Chairman Teague declared the public hearing on the FY 25 Budget open. After no comment 1'rom the public, the public hearing was declared closed. The City (Moe) moved to accept the proposed budget as published in the Iowa City Press -Citizen on March 1, 2024, and the County (Sullivan) seconded. The motion carried unanimously 2/0. The County (Sullivan) moved to appoint Geoff Fruin to the Iowa City Assessor's Examining Board subject to formal City Council approval at an upcoming meeting and the City (Salih) seconded. There being no further business it was moved by the County (Green) and seconded by the City (Bergus) to adjourn at 4.05 P.M. Motion carried unanimously 2/0. Farad Comer Clerk, Iowa City Conference Board IOWA CITY ASSESSOR'S OFFICE ITEMIZED BUDGET - ASSESSMENT EXPENSE FUND EMPLOYEE EXPENDITURES FY_ _ 2025 FY. 2026 INCREASE SALARIES Currant Proposed CITY ASSESSOR 146,118 154,154 5, 50% CHIEF DEPUTY ASSESSOR 128,611 135,685 5.50% DEPUTY ASSESSOR 112.603 118,796 5,50% OTHER PERSONNEL 296.335 306,773 2.83% MERIT INCREASES (have been added to salaries above) (15,042) (14,345 SUBTOTAL $685,667 $715,408 4.34% Proposed salaries Include merit increases and cost of livin¢ adjustments EMPLOYEE BENEFITS EMPLOYER SHARE: FICA 55,605 57,880 4.09% EMPLOYER SHARE: IPERS 68,597 71,405 4.09% HEALTH INSURANCE 205,072 212,206 3.48% SUBTOTAL 329,274 341,491 3,71 % TOTAL EMPLOYEE COST $1,014,941 $1,056,899 4,13% OTHER EXPENDITURES LEAVE CONTINGENCY $20,000 $20,000 0.00% BOARDS BOARD OF REVIEW 21,000 21,000 0.00% BOARD OF REVIEW EXPENSES 200 200 0.90% CONFERENCE BOARD 0 0 EXAMINING BOARD 30 30 0.00% SUBTOTAL $21,230 $21,230 0.00`Yo OFFICE EXPENSES MILEAGE & AUTO 5,000 5,000 0.00% OFFICE SUPPLIES 3.500 3.500 0.00% POSTAGE 9,000 2,500 -72.22% TELEPHONE 1,300 1,300 0.00% PUBLICATIONS & SUBSCRIPTIONS 1,100 1,100 0.00% PRINTING 3,K0 1,600 -57.8,9% INSURANCE 5,200 5,500 5.77% EQUIPMENT PURCHASE 3.400 3,400 0.00% DEFERRED COMPENSATION MATCH 7,280 7,280 0.00% UNEMPLOYMENT 2.D00 2,000 0.00% DATA PROCESSING SERVICES 20,000 20,000 0.00% HUMAN RESOURCE SERVICES 2.100 2,100 0.00% SOFTWARE MAINTENANCE 18.000 20,100 11.67% BONDS & WORKER'S COMPENSATION 8,300 9,000 8.43% COMPUTER REPLACEMENT 2.500 2.500 0.00% SUBTOTAL $92,480 $86,880 -6.06% PROFESSIONAL EXPENSES SCHOOLS & CONFERENCES 13,500 13,500 0,00% DUES 2, 200 2,500 18,18% SUBTOTAL $15,700 $16,100 2.55% TECHNICAL SERVICES LEGAL FEES & EXPERT WITNESSES 75,000 75,000 D.00% AERIAL PHOTOGRAPHY 10.000 12,500 25,00% APPRAISAL SERVICE 1,000 1.000 0.00% SUBTOTAL $86,000 $88,500 2.91 % TOTAL OTHER EXPENDITURES $235,410 $232,710 -1.15% SUBTOTAL EXPENDITURES $1,250,351 $1,289,609 RESERVES AUTO REPLACEMENT 14,000 22,000 TOTAL RESERVES $ 14,000 $ 22,000 TOTAL ASSMT EXPENSE FUND BUDGET $1,264,351 $1,311,609 3.74% UNASSIGNED BALANCE $224,401 $247,784 TO BE RAISED BY TAXATION $1,039,950 $1.063,825 2.30% IOWA CITY ASSESSOR'S ANNUAL PERFORMANC:F. REVIEW Conducted January 24, 2025 (Completed by the Iowa City Assessor) Assessors Name: Brad Comer Date of Review: January 24, 2025 Has the assessor adequately performed all duties as required by the Iowa Code § 441 and as outlined in the assessor's job description? Yes, I have performed the duties as required in the code. Much of the credit goes to our knowledgeable staff who allow our office to operate in a very efficient manner. My role includes managing the staff, as well as handling the commercial and multi -residential assessments. I implemented the income approach to value on the apartment properties through a phase in period. This has resulted in a more fair and equitable assessment. I have stayed active in the valuation process, despite being in the managerial position. This allows us to have a more successful office in terms of both productivity and cost efficiency. Has the assessor complied with all applicable Iowa City and Johnsen County policies and procedures? Yes, we have complied with those policies and procedures. We follow the Johnson County Employee Handbook. 'there have not been any staff issues to speak of. Our office consists of a dedicated and dependable group of employees who have a good working relationship with each other. What is Iowa City's ranking on the most recent state listing of Coefficients of Dispersion? Also list any other related data, awards, classes or recognitions. Unfortunately, the Iowa Department of Revenue is no longer required to provide the statewide sales ratio study. I was informed that they have no plans to produce the report going forward. A survey was sent to all 106 Iowa assessors requesting the sales information_ 'The numbers below are based on the 74 jurisdictions who responded with 2023 sales ratio results. Iowa City ranked ► rst in the state for the tenth time in eleven years with a residential COD of 7.83, The Coefficient of Dispersion (COD) is a measure of the average deviation from the median of selling price to assessment ratios, with a low ratio considered good. The median COD of the 74 jurisdictions was 22.24. The Price Related Differential (PRD) is an indicator of the degree to which high value properties are over or under assessed in relationship to low value properties. An index of 100.00 indicates no difference in assessments of high value properties in comparison to low value properties. Iowa City was tied for second with a residential PRD of 101. The median of all jurisdictions was 106. The 2023 commercial salcs show that we are ranked 12`h overall with a COD of 19.47, while the median for all jurisdictions was 29.98. Of those.jurisdictions with at least 10 commercial sales, Iowa City ranks Ch in COD. Iowa City ranked 29'i' overall in multi -residential COD at 22.41 but ranked 13"' in those jurisdictions with at least 5 sales. Based on the FY 2025 budget, our office has the 7th lowest assessor levy rate in Iowa. The Iowa City assessor's levy is .2397t, while the median across all 106 assessing jurisdictions is .45973. When considering 2023 census and FY 2025 assessor budgeted expenses, Iowa City has the 3d lowest tax per capita to operate the assessor's office among the 20 highest paid assessors, During the past year I attended 3 separate conferences in Iowa. The Iowa State Association of Counties (ISAC) Annual School of instruction, the I:SAC Spring School of Instruction, and the Iowa State Association of Assessors (ISAA) Annual School of Instruction. These wnferences covered a variety of educational topics. List any pertinent input (anonymously) from the assessor's staff, the community and/or the Review Board regarding the assessor's performance. I encourage you to contact anyone who may interact with our office. We take great pride in being responsive to any request, as well as to be fair and understanding when dealing with property owners, We do our best to explain our process with comparable sales and assessments. Taxpayers are often thankful for the consideration given to their concerns by our staff, whether that results in a change in assessment or not. In the past, I have done presentations for the Iowa City Area Association of Realtors, Greater Iowa City Area Apartment Association, Coldwell Banker (Edge Realty), Skogman Realtors, and the Iowa City Downtown District. These engagements have provided the opportunity to educate the public on the assessment process, as well as to receive feedback. Review previous goals and objectives: I . Review the office workflow. There should be multiple employees who can complete any particular task, in case the person who regularly completes the task is unavailable. We are in a good position on this. Examples include: Tony and Marty handle property splits. KJ and Diane submit declarations of value to the Department of Revenue. Most staff can enter credits and exemptions in our real estate software. Many other examples exist. 2. Complete continuing education tested hours. 'Phis past year I completed IAAO Course 300 — Fundamentals of Mass Appraisal and IAAO Course 331 — Mass Appraisal Practices and Procedures. These were both 30-hour tested courses. I still need 4.5 hours of tested education prior to 12/3 Lr2025. 3. Review staff responsibilities. The recent retirement of a long-time staff member provides the opportunity to re -assess our positions and responsibilities as we prepare to re -hire for that opening. Due to our office relocation during the County Administration Building remodel, i decided to leave the position open this year. The current plan is to hire in late spring or early summer 2025. 4. Modernize the Iowa City Assessor Annual Report 'I'Ire current version is fairly dated in the way that it is presented and can be updated to be more visually appealing or easier to read. This is in progress and a good pardon will be updated for the current 2023 Annual Report. The 2023 Annual Report was updated and is much more pleasing to the eye than previous versions. 5. Continue our in-house appraisal of all single-family residential properties in Iowa City with a goal of 1400 properties visited by 1/l/2024. A change in plans on my part kept our office from reaching this goal. 1 did not replace the appraiser who retired in January 2024. The two current appraisers were tasked with visiting properties with building permits, as well as continuing with their door-to-door revaluation process. In short, taking on the building permits reduced the production of the in-house appraisal to 1022 properties. 6. Continue the training segment during our office meetings. Each veteran staff member will present/provide training on a topic. Determine throughout the year what topics may be most beneficial. This has been completed and has been well received, We will look to continue these as both refreshers and to educate on new topics as they come up. i. Create master cards for condominiums that are used as apartments. This is in anticipation of apartment property owners dissolving their condominiums since there is no longer a tax advantage to being a condo. This will be a multi -year prods. This is underway. Marty Burkle created master cards for condominiums in the downtown map area and I reviewed them. This process will continue as we move outward from the downtown area. Other goals: List goals, objectives and areas of concern for the corning year: 1. Hire anew employee for the vacant appraiser position in late spring / early summer. 2. Review staff responsibilities, specifically the appraiser positions (territories, office responsibilities, etc.). 3. Analyze land values for all classes of property and revalue as needed for the 2025 assessment. 4. Complete the continuing education hours needed for my term that ends on 12/31/2025. Employee Comments pertaining to this review: Signed: Employee Conference Board Evaluation Committee r� Iowa City City Uincil ity School Hoard Johnson County Supen iso Date: JURISDICTION 01 02 SALARY 1516 SALARY 1617 SALARY 1718 SALARY 1819 SALARY 1920 SALARY 2021 SALARY 21 22 SALARY 2223 SALARY 2324 SALARY 2425 SALARY % RAISE % RAISE 1YEAR 5YEAR % RAISE 1ST 23YEAR DEPUTY POLK COUNTY 93,867 131,493 135.437 138,822 150,617 154,976 158,850 162,160 170,961 179,509 186,689 4.00% 20.46% 98.89% 174,194 STORY 69.300 111.670 116.150 123,000 126.690 130,490 135.710 142,970 150.120 162,130 173,414 6.96% 32.89 % 150.24 % 139,307 DALLAS 57.200 102,650 105.730 112,074 118,747 124,73E 130,931 136,170 142,240 153,631 165942 8.01% 33.03% 190,11% 141,045 CEDAR RAPIDS 74,378 122,484 125,546 128,057 130,618 134,521 138,556 141,327 145,567 152,118 164,287 8.00% 22.13% 120.88% 141,942 JOHNSON 63,500 114,640 117,506 122,206 127,094 132,17E 136.141 141,247 149,016 154,977 162,725 5m% 23.11 % 156.26% 137,701 POTTAWATTAMIE 74.764 118,155 123,525 127,868 131,609 135,613 139,474 143,114 148,839 155,538 162,637 4.50% 19,85% 11740% 138,157 DAVENPORT 67.836 104,453 106,135 107,942 109,998 125,399 128,664 137,672 143,590 149,330 156,800 5.00% 25.04% 131.15% 141,414 SCOTT 62,666 99.890 96.000 98,100 101,100 106,500 108.850 111.301 129,350 132,600 152,100 14,71% 42.82% 142.72°% 91,000 LINN 65,472 102,550 105,622 109,685 122,000 125,660 129,430 132,018 139,807 146,098 1519+42 4.00% 20,92% 132.07% 137,031 AMES 79,959 127,668 131,300 137,770 143,302 150,472 156.208 164.018 133,540 143.500 151,762 5.76% 0.86% 89.80% 128,998 BLACKHAWK 66,200 97,854 100,790 103,813 106,928 110,136 113,440 116,843 121,517 140,000 146.300 4.50% 32.84% 121.00% 113,383 IOWA CITY 63,340 10Q000 104,500 108.680 112.755 116,983 121,370 126.225 133,167 139,160 146,118 5,00% 24.91% 130.69% 128,611 WOODBURY 63.600 95.000 97,850 100,790 105,000 106,150 115.180 118,347 123,673 132,948 138,266 4.00% 31,49% 117.40% 110,612 CLINTON CO 102,478 154,341 157,640 161,730 110,000 112,200 114.725 118,166 125,256 132,771 137418 3.50% 22.48% 34.10% 108,692 DUBUQUE CITY 66,083 98,276 101,224 106,295 108.430 111,683 115,033 117,621 121,738 127,216 132941 4.50% 19.03% 101.17% 110,341 SIOUX CITY 68,294 96,073 98,955 101..429 122,990 126,672 130,146 133,725 137,405 123,673 130,786 5.75% 3.25% 91.50% 117,437 BOONE 45,000 100,724 102,990 105,305 107,674 110,097 112,300 114,543 119,700 125.087 129,465 3.50% 17,59% 187,70% 84,152 HAMILTON 47,070 70,190 76,2B0 78,190 82,100 85,400 89,000 105,000 108,150 116,802 122.676 5.20% 43.88% 161,05% 91,396 DUBUQUE COUNTY 62,500 93,878 100,413 100,079 103,081 106,173 109,358 106,000 112,000 117.600 122.300 4.00% 15.19% 95,68% 96,617 MUSCATINE 66.432 99,060 102.280 105,200 108,360 108,360 110,100 111,500 114,845 118,865 120,965 1.77% 11.63% 82.09% 74,985 MEDIAN 66.083 100.724 104.5000 107,842 110.000 116,983 121,370 126,225 133,167 139.160 146,300 5.00% 22.48% 121.00°% 117.43T 2001-02JOHNSON AND IOWA CITY HAD NEW ASSESSORS STARTING WITH A SIMILAR RATE 2024.25 JOHNSON AND IOWA CITY ASSESSORS HAVE AN 11.4% DIFFERENCE JURISDICTION Staff 2023 Taxable Value Taxable Value Per Employee COMPARISON OF OFFICES Taxes Population Budgeted Budget Per of 2023 Employee Jurisdiction Population Per Employee Assessment Expense Levy Taxes Per Capita Residential COD 2023 Commercial COD 2023 Yrs In Office Appraisal Experience POLK COUNTY 37 $31,811 S 860 S 8,512,1B5 $ 230,059 505,255 13,656 0,25772 $16.85 15.05 28,30 10 44 STORY 7 $2,382 S 34G $ 1,172,780 $ 167,540 32,800 4,686 0.51841 $35.76 10.07 26.43 45 50 ❑ALLAS 14 $8,770 S 626 5 2,715,975 $ 193,999 111,092 7,935 0.33067 $24.45 8.36 21.88 20 27 CEDAR RAPIDS 16 $7,465 S 467 5 2,859,104 $ 178,694 135,958 8,497 0.29872 $21.03 14.07 31.31 6 26 JOHNSON 10 $5,499 S 550 $ 1,794,256 $ 179,426 81,580 8,158 0,21824 $21.99 10.06 18.81 9 33 POTTAWATTAMIE 13 $6.273 S 483 $ 2,276,777 $ 175,137 93,179 7,168 0.30634 $24.43 7 36 DAVENPORT 12 $5,230 S 436 $ 1,929,946 $ 160,829 100,354 8,363 0.35131 $19.23 19.61 32.27 10 33 SCOTT 9 $5,396 S 600 S 1,393,800 $ 154,867 73,916 8,213 0.20387 $18.86 11.03 16.28 8.5 20 LINN 11 $5,737 S 522 $ 1,939,376 $ 176,307 93,014 8,456 0.25971 $20.85 12.58 29.98 16 31 AMES 8 $3,568 S 446 S 1,580,459 $ 197,557 65,686 8,211 0.32228 $24.06 13.20 15,84 14 24 BLACKHAWK 14 $5,977 S 427 5 1,849,398 $ 132,100 130,471 9,319 0.21834 $14.17 19.86 48.71 10 24 IOWA CITY 7 $4,380 $ 626 $ 1,250,351 $ 178,622 75,678 10,811 0,23971 $16.52 7.83 19.47 10 29 WOODBURY 5 $2,042 S 408 S 949,302 $ 189,860 20,224 4,045 0.39908 $46.94 2602 48.09 1 18 CLINTON CO 6 $2,728 S 455 S 1,445,959 $ 240,993 46,158 7,693 0.37065 $31.33 31.43 28.06 13 17 DUBUQUE CITY 6 $2,843 S 474 3 874,653 5 145,776 58,877 9,813 0,25152 $14.86 13.79 24.27 6 18 SIOUX CITY 9 $3,530 S 392 S 1,429,027 $ 158,791 85,727 9,525 0,33286 $16.67 21.20 40.17 1 6 BOONE 6 $1,974 S 329 1 859,471 $ 143,245 26,590 4,432 0.26595 $32.32 ` ' 18 36 HAMILTON 4 $1,207 $ 302 $ 843,159 $ 210,790 14,729 3,682 0,66738 $57.24 19.61 47.30 10 11 DUBUQUE CO. 8 $2.764 S 346 $ 953,683 $ 119,210 40,010 5,001 0.25688 $23.84 13.23 35.65 3 11.5 MUSCATINE 5 $2,325 S 465 $ 784,325 5 156,865 42,218 8,444 0.29419 $18.58 14.29 10.42 5 27 MILLIONS MILLIONS YEARS MEDIAN 8.5 S 3,974 $460 $1.437,493 5175.722 73,919 8.212 0,29648 l$21-51 - - li93 29.02 10 25 IOWA CITY ASSESSOR'S OFFICE HAS HAD THE LOWEST RESIDENTIAL COD IN THE STATE FOR 30 OUT OF THE LAST 11 YEARS. TAXES BUDGETED FOR THE OFFICE DIVIDED BY 2023 POPULATION SHOWS IOWA CITY AT THE 3RD LOWEST AMOUNT. IOWA CITY RANKS 2ND IN TAXABLE VALUE/STAFF AND 2ND IN POPULATION/STAFF WHICH REFLECTS OUR OFFICE EFFICIENCY. A " INDICATES THAT THE JURISDICTION DID NOT COMPLETE THE SALES RATIO SURVEY POPULATION NUMBERS ARE BASED ON 2023 ESTIMATES FROM WW W.CENSUS.60V Advisory Board/Commission Application Form Submit Date: Oct 14, 2024 This application is a public document and as such can be reproduced and distributed for the public. This application will be considered for twelve months only and automatically considered for any vacancy during that time. If appointed to a Board/Commission, all other applications will be removed from consideration. Profile . NOTE: Applicants must reside in Iowa City and be 18 years of age unless specific qualifications are stated. Date of Application (Date will be captured on form submission) Are you 18 years of age or older? r Yes r No Mark T Seabold Hi .t Nan',e mlocje Last Name Inalal First Name (Phonetic spelling) 3193255350 Last Name (Phonetic spelling) 1724 Muscatine Ave Home Address Iowa City City 5wte c, AP: IA 52240 state Posta: coda Is your home address (listed above) within the corporate limits of Iowa City? r• Yes r No How long have you been a resident of Iowa City? 31 years Mobile: (319) 325-5350 Pnir•ary PhonE ...lter�ate PhOn= mark.seabold@gmail.com Enla�I Address Principal Architect 0,C spat on Boards & Commissions Mark T Seabold Which Boards would you like to apply for? Board of Review Board Member Information: Eligible Preference on first choice (If multiple boards are being applied for.) Board of Review Interests & Experiences Experience and/or activities which you feel qualify you for this position: I am a licensed architect (licensed in 2003) and have been practicing architecture in Iowa City for over 28 years time. My experience includes commercial, residential, multi -family, senior living and mixed use project types working with local and national clients. I am currently on the board for the Housing Fellowship which is a local non-profit development company that provides affordable housing. I am also past chair of the Iowa City Public Art Advisory Committee and past president of the University of Iowa Museum of Art's Members Council. What is your present knowledge of each advisory board you are interested in? I have been on the Board of Review for the past 3 years and have learned a lot about what the Board does on a yearly basis. I work with realtors, developers, and property owners as some of my core clients and understand how a properties assessed value applies to their businesses and properties. Potential Conflicts of Interest Please contact the City Attorney at 356-5030 to discuss questions or concerns regarding a potential conflict of interest. The following describe some but not all potential conflicts. The Housing and Community Development Commission makes recommendations to the City Council regarding the distribution of federal CBDG/HOME funds. The general rule is that no persons who exercise or have exercised any functions or responsibilities with respect to federally funded activities, or who are in a position to participate in the decision -making process or gain inside information with regard to such activities, may obtain a financial interest or benefit from a federally -assisted activity, or have a financial interest in any contract, subcontract, or agreement with respect to a federally - assisted activity, or with respect to the proceeds of the federally -assisted activity, either for themselves or those with whom they have business or immediate family ties, during their tenure or for one year thereafter. Mark T Seabold Most members of City Boards and Commissions are employed, and/or have a financial interest in one or more non-profit entities. Section 362.5 of the Code of Iowa generally prohibits, with certain important exceptions, a member of a City Board or Commission from having an interest in a City contract. In order to navigate potential conflicts of interest for certain matters, please list any and all business or non-profit entities in which you have an employment or financial interest. List your answers here: I am an Principal Architect (owner) of Shive-Hattery I serve on the Board of the Housing Fellowship Res. #22-78 states that each application for reappointment to a City Board or Commission will be considered without regard to incumbency. If reappointed, an individual would be limited to one reappointment to a full term in order to increase the opportunities for new applicants to serve. Council policy is not to permit an individual to serve on two Boards or Commissions at the same time. You will be asked to resign from one if appointed to another. Do you currently serve on another Iowa City board or commission? r Yes r. No (Optional) Demographic Information The City Council values all types of diversity on its Boards and Commissions. Your responses on this page provide valuable information to the Council in achieving that goal. In order to ensure that the Board and Commission is representative of the community and the groups(s) which it serves, please provide your information for the following: Gender W Male Age 55 Country of Origin United States Sexual Orientation Heterosexual Mark T Seabold Religion no Do you have a disability no Ethnicity white Race white Gender Identity male *NOTE: The Human Rights Commission strives to ensure the Commission is representative of the community. Therefore, appointment shall take into consideration persons of various racial, religious, cultural, social and economic groups in the city, (Ordinance) The Housing and Community Development Commission strives to satisfy its purpose and intent, when possible to have at least one person with expertise in construction, at least one person with expertise in finance, and one person who receives rental assistance. (Resolution) Misrepresentations on this application will constitute just cause for removal of an appointee. If you fail to answer all the questions, except demographics, Council will not consider your application. You are encouraged to contact individual Council Members to express your interest in serving. Please Agree with the Following Statement I certify that the information 1 have given on this application is complete and correct. IZ I Agree Mark T Seabold Brad Comer From: Kim Calvin<colvin.kim@iowacityschools,org> Sent: Wednesday, December 11, 2024 3:32 PM To: Brad Comer Subject: Re: FW: Committees CAUTION: This email originated from outside of Johnson County! D❑ not click links, open attachments or reply, unless you recognize the sender's email address and know the content is safe! Thanks Brad. The committee assignments Were approved at last night's meeting and the members are as follows: Conference Board - Molly abraham & Charlie Eastham Evaluation Committee - Molly Abraham Examining Board - Chace Ramey I will contact Molly and Charlie to make sure they can attend. Thank you, Km Kim Colvin �xecutiveAssistant/Board Secretary Educational Services Center Iowa City Community School District Phone: (319) 688-1000 Www. i avv a c i tysc hoo I s. or IOVWA CITY COMMUNITY SCHOOL DISTRICT All Iri f, r All kid-, On Wed, Dec 11, 2024 at 3:24 PM Brad Corner <bcomer@johnsoncounty.io.w- 4ov> wrote: Kim, 1 qNr IOWA CITY CITY COUNCIL IOWA CITY COMMUNITY SCHOOL BOARD 2025 Council 2024 Council 2024-25 School Board 2023-24 School Board Bruce Teague, Mayor Bruce Teague, Mayor Ruthina Malone, President Ruthina Malone, President Mazahir Salih, Mayor Pro Tem Mazahir Sal ih, Mayor Pro Tem *Molly Abraham, Vice President Molly Abraham, Vice President Laura Bergus Megan Alter Shawn Harmsen Laura Bergus Lisa Williams Lisa Williams Josh Moe Andrew Dunn *Charlie Eastham *Charlie Eastham Megan Alter Shawn Harmsen Mitchell Lingo Jayne Finch Vacant Josh Moe Shawn Eyestone *Shawn Eyestone Jayne Finch Mitchell Lingo JOHNSON COUNTY BOARD OF SUPERVISORS 2025 Board 2024 Board Jon Green, Chairperson Rod Sullivan, Chairperson V Fixmer-Oraiz, Vice Chair Jon Green, Vice Chair Rod Sullivan Lisa Green -Douglass Mandi Remington V Fixmer-Oraiz Lisa Green -Douglass Royceann Porker *Conference Board Designees IOWA DEPARTMENT OF REVENUE AND FINANCE Mary Mosiman - Director, Iowa Department of Revenue and Finance IOWA CITY ASSESSOR'S OFFICE STAFF Brad Comer - Iowa City Assessor Marty Burkle - Chief Deputy Assessor Tony Stammler - Deputy Assessor Diane Hagarty - Accounting Clerk KJ Giese - Appraiser Andy Dorale - Appraiser Vacant - Appraiser LEGAL COUNSEL Eric Goers - City Attorney Jennifer Schwickerath -Assistant City Attorney IOWA CITY BOARD OF REVIEW Scott McDonough Mark Seabold Ryan O'Leary Sara Meirotto Phoebe Martin IOWA CITY EXAMINING BOARD Geoff Fruin Mike Hensch Chace Ramey To: Members ofthe Iowa City Assessor's Conference Board From: Brad Corner- Iowa City Assessor Subject: 2O24Annual Report - Issued December 31,2O24 The following report covers the activities of this office from January 1,2024,to date of issue. MISSION STATEMENT The purpose of the Iowa City Assessor's Office is to find, list and value for tax purposes, all real property in Iowa City and maintain records for all parcels in Iowa City. GOALS Tbestablish values according toIowa law on all commercial, industrial, agricultural, and residential property within the City of Iowa City; to achieve equitable assessments across all classes of property based on actual physical aspects of the property and all pertinent sales data available; to improve the efficiency by which these assessments are made; to provide prompt and courteous response to all inquiries for information. Iowa c/° Assessor's Office zuz^ Annual xenv,t January 1 Assessment Date April 1 Assessors complete assessments and notify taxpayers April 2-25 Taxpayers may request informal review of assessment with assessor On or before April 25 Following informal review, assessor may enter into a signed written agreement with the property owner or aggrieved taxpayer authorizing the assessor to correct or modify the assessment according to the agreement of the parties April 2-30 Taxpayers may appeal assessments to local Boards of Review May 1-May 31 Local Boards of Review consider appeals. This time may be extended to July 15 by the Iowa Department of Revenue Director June 15 Local Boards of Review submit reports to the Director July 1 Assessors submit abstracts of the assessments to the Director August 15 The Department issues tentative equalization notices to assessors September The Department holds Equalization hearings, which are held for public input October 1 The Department issues final equalization orders to County Auditors October 2-12 Assessing jurisdictions may apply for alternative methods of implementing equalization orders By October 8 The county auditor must publish notice of the final equalization order by this date, and must provide notice by mail to the taxpayers if the equalization order results in an increase in valuation October 9-31 Taxpayers may protest final equalization order to local boards of review October 10-15 Local boards of review meet to hear equalization protests November 1 The Director certifies assessment limitation percentages to county auditors November 15 Local boards of review submit a report about the equalization protests to the Department April 30 The taxing authorities adopt the budgets based on the valuations. Budgets must be certified to the County Auditor on or before April 30 April 30 The county board of supervisors levies the taxes July 1 The county treasurer receives authorization to collect taxes September 30 First half of taxes are due March 31 Second half of taxes are due Although 2024 was not a real estate revaluation year, some revaluation occurs each year as part of our ongoing reassessment efforts, especially in residential property. Residential new construction added approximately $37 million and revaluation nearly $18 million. Commercial new construction added approximately $11.3 million, and revaluation added about $8.4 million. There was $43.3 million of Residential 3+ (formerly known as Multi -Residential) new construction added and $6.5 million of revaluation. 809 residential deed sales in 2024 give us a median ratio (assessed value/sale price) of 90.72% compared to 93.79% for 880 sales in 2023 at the time of sale. This tells us that the selling prices of homes have increased since last year and the number of sales has decreased since last year. The number of sales above does not include new construction completed during the past year. When including new construction there were 868 sales. It should be kept in mind that when a jurisdiction is at the State mandated sales ratio level of 100%, a full one-half of home sales will be for less than the assessed value. Sales for less than the assessed value tend to result in appeals to the Board of Review. Iowa City Assessor's Office 2024 Annual Report HISTORY OF ASSESSMENT APPEALS No District Court appeals were filed in 2024. There are two active District 2024 364 7 0 7 Court appeals that were filed in 2023. The 2023 appeals include 1 Hy- 2023 1520 15 5 20 Vee store and a Walmart. All District Court appeals filed prior to 2023 2022 280 13 1 14 have been completed. 2021 715 22 3 25 2020 397 13 1 14 PROPERTY ASSESSMENT APPEAL BOARD 2019 1506 20 6 26 2018 552 6 0 6 Seven commercial properties appealed to PAAB for 2024. Four are still active while three were settled. Seven residential and eight commercial properties appealed to PAAB for 2023. Five are still active, four were withdrawn, four were settled, and two were PAAB decisions. There are 2017 565 12 1 13 2016 218 2 a 2 2015 148 8 4 12 2014 32 1 2 3 no outstanding appeals prior to 2023 remaining. 2013 108 11 5 16 BOARD OF REVIEW 2012 105 1 1 2 2011 301 $ 12 17 The Board of Review was in session from May 1 through May 10, the day of adjournment. 364 protests were filed, with I being upheld and 363 denied. To clarify, 352 of the petitions were part of the same appeal as EACH UNIT OF A CONDOMINIUM APARTMENT BUILDING IS COUNTED AS A PROTEST IN BOARD OF REVIEW APPEALS. FOR EXAMPLE, AN APARTMENT BUILDING WITH 12 CONDOMINIUM they were condominium units in The Quarters at Iowa City. The total value of real estate being protested was $108,037,920. The Board UNITS THAT IS APPEALED WOULD COUNT AS 12 PROTESTS. IN PAAB OR COURT THEY ONLY COUNT AS I APPEAL, allowed a total reduction of $347,030. N ASSESSMENT LIMITATIONS (ROLLBACK) The residential rollback will increase from 46.3428%, for the current taxes, to , ao% 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 47.4316% for taxes payable in 2025-2026. 90°l0 90 % 90°!0 90"!0 90% 90 % 90 % 90 % 90°! 90% 89.041 86.25 % 80"� 82 5 % 84.0305% s1.4a3z�o 78.75% 75% 70°� 71.25% 67.5 % 60% 55.7335 55.6259 56.9391`1556209° 56.9180"'�Fn�na 56.4094° 63.75' 50% 44.7021e 46.1oe 40% _.S_ Residential 90 9o%i 90%1 The rollback for agricultural property will %71.837% " increase from 71.8370% to 73.8575%. The commercial rollback will stay at 90% for the foreseeable future on value that exceeds $150,000. While the value of commercial 73.858% property that is less than $150,000 will receive the equivalent of the residential 47.4316% rollback. 47A316% Commercial B Industrial —*--R3+(Muth-Residential) —0--Agricultural Multi -Residential class was eliminated with the 2022 assessment and is now considered residential property. The Department of Revenue refers to former Multi -Residential property as Residential 3+ when analyzing sales within the residential class. SF 451 An act relating to sessions of the local board of review and including effective date provisions. Summary: This bill allows for the first board of review date to be anywhere between May 1 and May 7. SF 2096 1 An act repealing gender balance requirements for appointive bodies. Summary: This bill removed gender balance requirements for all government boards. SF 2269 An Act relating to the salaries of assessors who are appointed to serve a previous assessor's unexpired term. Summary: Newly appointed assessors may be paid differently than the previous assessor; in an amount the conference board determines to be reasonable. 9 SF 2442 An act relating to state and local finances by modifying individual and alternate income tax rates, withholding credits, franchise tax deductions, methodologies for determining property taxes, and property tax assessment limitations, changing methods of determining compensation of county officials, making contingent transfers from the taxpayer relief fund, and making corrections, and including effective date and applicability provisions. Summary: This bill makes the 65+ homestead list with birthdate and address confidential, changes requirements for county compensation boards (the supervisors can elect to dissolve a compensation board by a majority vote, removes percentage decreases at same levels), cleans up HF718 recon reporting requirements from assessor to auditor (by parcel) and language for new residential revits paying school taxes. io 2024 ABSTRACTOF ASSESSMENTS FOR IOWACITY $8,636,590,793 ` Residential lots and S,Adings 75% f Industrial lots and 1 rluiidings CommetdalLots \ and Buildings 1 14% 1 Reslderrllal}+lots and _--' Buil�ngs 1096 71,1wailand andResidential Dwellings WturesAgricidtuml Realty,664,fig0 $1,049,770 [1% *All of the values above are based on the 2024 abstract as reported to the Iowa Department of Revenue on July 9, 2024. ABSTRACT OF ASSESSMENTS IN IOWA CITY *Agricultural Land and Structures $1,664,680 Residential Dwellings on Agricultural Realty $1,049,770 Residential Lots and Buildings $6,435,753,0401 Commercial Lots and Buildings $1,248,387,8481 Residential 3+ Lots and Buildings Industrial Lots and Buildings IActual Value of All Real Estate* $861,341,785 $88,393,670 $8,636,590,793 EXEMPT PROPERTY IN IOWA CITY FOR 2024 Religious Institutions $128,570,675 Literary Societies & Educational Institutions $9,589,140 Low Rent Housing $0 Associations of War Veterans $764,827 Charitable and Benevolent Societies $111,767,435 Forest and Fruit Tree $1,800,610 Partial Industrial, Urban Revitalization, Recycling $4,841,378 Storm Shelter, Public TV & New Jobs, Geothermal, 1 $1,073,610 Sub -Total $ 258,407,675 University of Iowa (As Reported by U of I as of S131/2024) $4,703,777,365 TOTAL EXEMPT $4,962,185,040 EXEMPT PROPERTY IN IOWA CITY (INCLUDING THE UNIVERSITY) EXEMPT PROPERTY IN IOWA CITY (EXCLUDING THE UNIVERSITY) $5,024,518,031 - $258,407,675 Partial Inclustrat, Urban RP�itlll g Recyclin Mobile No St. - lobe. Geothermal, 55,914,988 <1" 'u' "t "b"' Assaciatiorx of War Charitab 5128,5 70" ;: ,n "'J" 111.36 35 2% rF.r,,,ta,,d F TItP rt dons Li to ra ry 5 . Umi es E d . ca t i ,,a I I . is Li tutioin S, Rc I [gin u 4nsl it. b ns, Chart table a bje and Ben evol erit 128,570,675 Sall im.s' $111,767,4 A 5 5" \\N'-1, 43% P. rti a I I no itstn.l, Urban A, , , -I ... orWar Vet 'e n" 1714821 forest and Fruit ISM R, n ta I i I 1111, RIcyd i ri Mobile Home Storm Shelter, Pu blic TV & New Jobs, Geothermal, Hi t.r..l $5,914,989 c1% 12 VALUE COMPARISON WITH ROLLBACKS APPLIED (TOTAL) a ,Lg1S ,�p16 1gy1. .Lp14' ,�p19 ,Lp'4q 2g1's ,,p'Lti ,p3 j1bta1 Assessed Value 01,001 Taxable Val Lie 2024 $8,636,590,793 1.06% *2023 $8,545,895,227 18.47% - 909 G m Am an? 1 ?fA, 'blp9[I 'tU/1 �I,14J,0/vJ,J1Z J.,7J70 2020 $6,894,005,388 2.33% *2019 $6,737,265,048 11.94% 2018 $6,018,434,795 3.64% *2017 $5,807,222,035 7.62% 2016 $5,396,050,259 2.70% *2015 $5,254,065,839 8.15% 2014 $4,858,070,230 2.47% $4,665,959,609 $4,544,328,143 $4,479,057,650 $4,340,349,682 $4,353,253,722 $4,215,022,406 $3,873,829,135 $3,699,383,180 $3,496,648,674 $3,372,510,995 $3,130,797,802 2.68% 1.46% 3.20% -0,30% 3,28% 8.81% 4.72% 5.80% 3.68% 7.72% 1.57% 2024 Agricultural essed $ Value 1,664,680 COMPARISONVALUE Rollback 73.8575% Taxabisdlike $ 1,229,491 ROLLBACKS Year 2024 Asses!�IValue $ APPLIED Agricultural 1,049,770 Dwelling Rollback 47.4316% Taxable $ Value 497,923 *2023 $ 1,758,960 71.8370% $ 1,263,584 *2023 $ 1,049,770 46.3428% $ 486,493 2022 $ 1,659,870 91.6430% $ 1,521,155 2022 $ 819,800 56.4919% $ 463,121 *2021 $ 1,584,260 89.0412% $ 1,410,644 *2021 $ 791,780 54,1302% $ 428,592 2020 $ 1,738,200 84.0305% $ 1,460,619 2020 $ 806,690 56.4094% $ 455,049 *2019 $ 1,758,220 81.4832% $ 1,432,654 *2019 $ 806,690 55.0743% $ 444,279 2018 $ 2,541,960 56.1324% $ 1,426,863 2018 $ 765,530 56.9180% $ 435,724 *2017 $ 2,949,150 54.5580% $ 1,608,997 *2017 $ 1,019,410 55.6209% $ 567,005 2016 $ 3,484,890 47.4996% $ 1,655,309 2016 $ 1,015,050 56.9391% $ 577,960 *2015 $ 3,814,000 46.1068% $ 1,758,513 *2015 $ 1,120,840 55.6259% $ 623,477 2014 $ 3,784,570 44.7021% $ 1,691,782 2014 $ 1,202,940 55.73356/o $ 670,440 The adjusted values given are not exact but are meant to give a representation of the growth of Iowa City's tax base. * Reassessment Year Wear VALUE Residential Assessed Value COMPARISON a RollbacmL. ROLLBACKS ♦ Multi - r _ . Residential Rollback .. 2024 $ 6,435,753,040 47.4316% $ 3,052,580,639 2024 $ 861,341,785 47.4316% $ 408,548,190 *2023 $ 6,402,674,680 46.3428% $ 2,967,178,722 *2023 $ 803,925,336 46,3428% $ 372,561,511 2022 $ 5,440,802,627 56.4919% $ 3,073,612,779 2022 $ 566,530,807 56.4919% $ 320,044,017 *2021 $ 5,367,201,161 54.1302% $ 2,905,276,723 *2021 $ 554,802,605 63.75% $ 353,686,661 2020 $ 5,142,332,820 56.4094% $ 2,900,759,090 2020 $ 549,493,092 67.5% $ 370,907,837 *2019 $ 4,997,152,490 55.0743% $ 2,752,146,754 *2019 $ 548,235,541 71.25% $ 390,617,823 2018 $ 4,432,353,660 56.918% $ 2,522,807,056 2018 $ 502,245,262 75% $ 376,683,947 *2017 $ 4,280,031,980 55.6209% $ 2,380,592,307 *2017 $ 482,528,656 78.75% $ 379,991,316 2016 $ 4,012,070,900 56.9391% $ 2,284,437,062 2016 $ 420,708,451 82.5% $ 347,084,472 *2015 $ 3,893,910,250 55.6259% $ 2,166,022,622 *2015 $ 415,794,401 86.25% $ 358,622,670 2014 $ 3,616,765,260 55.7335% $ 2,015,749,866 2014 The adjusted values given are not exact but are meant to give a representation of the growth of Iowa City's tax base. * Reassessment Year Year 2024 Industrial Ass%jjgyg&1e $ VALUE 88,393,670 COMPARISON Rollback 90% Taxablqyqlu&lnear $ WITH 79,554,303 ROLLBACKS 2024 $ APPLIED Commercial Assessed Value 1,248,387,848 Rollback 90% $ Taxable Value 1,123,549,063 *2023 $ 87,930,360 900/0 $ 79,137,324 *2023 $ 1,248,556,121 90% $ 1,123,700,509 2022 $ 79,655,130 90% $ 71,689,617 2022 $ 1,124,141,068 90% $ 1,011,726,961 *2021 $ 79,499,810 90% $ 71,549,829 *2021 $ 1,119,996,926 90% $ 1,007,997,233 2020 $ 80,001,410 90% $ 72,001,269 2020 $ 1,119,633,176 90% $ 1,007,669,858 *2019 $ 80,669,700 900/0 $ 72,602,730 *2019 $ 1,108,642,407 90% $ 997,778,166 2018 $ 79,351,860 90% $ 71,416,674 2018 $ 1,001,176,523 90% $ 901,058,871 *2017 $ 74,023,380 90% $ 66,621,042 *2017 $ 966,669,459 90% $ 870,002,513 2016 $ 79,489,600 90% $ 71,540,640 2016 $ 879,281,368 90% $ 791,353,231 *2015 $ 80,349,550 900/0 $ 72,314,595 *2015 $ 859,076,798 90% $ 773,169,118 2014 $ 78,113,470 90% $ 70,302,123 2014 $ 1,158,203,990 90% $ 1,042,383,591 The adjusted values given are not exact but are meant to give a representation of the growth of Iowa City's tax base. * Reassessment Year Comparison of Assessed and Taxable Value 2024 $ 6,435,753,040 74.5 by Class 2023 $ 6,402,674,680 74.9 2022 $ 5,440,602,627 75.4 Residential 2021 $ 5,367,992,941 75.4 80% Assessed 2020 $ 5,143,139,510 74.6 75% 2019 $ 4,998,894,480 74.2 2018 $ 4,433,119, 190 73.7 70% 2017 $ 4,282,051,390 73.7 65% Commercial 2016 $ 4,013,085,950 74.4 Multi -Res, 2014 $ 3,617,968,200 74.1 60% , 2414 $ 3,617,968,200 74.5 & Industrial 55% Assessed 50% 45% -,~ Residential 2024 $ 3,052,580,369 65.4 40% -- Taxable U23 $ 2,967,178,722 65.3 2022 $ 2,973,404,076 68.1 35% M21 $ 2,905,705,315 66.9 30% 2020 $ 2,901,214,139 66.6 -Commercial M19 $ 2,752491,033 65.3 25°h1=� 4 "r'•-• F°"' }--'-� Multi -Res, 2018 $ 2,523,242,780 65.1 20°!° U17 & Industrial $ 2,981,159,312 64A 2016 Taxable $ 2,285,015,022 65.3 Off' O�" Off" Off" Off' Off' Off'' Off' 4�' Off' On' HIS $ 4166,646,099 64.2 2014 $ 2,016,420,307 64.4 $ 1,248,378,848 14.5 5 861,341,785 10 $ 88,393,670 1 $ 1,664,680 $ 1,248556,121 14.6 S 803,925,336 9.4 $ 87,930,350 1 S 1,758,960 $ 1,124,141,D68 15.6 $ 566,530,807 79 $ 79,655,130 1.1 $ 1,659,870 $ 1,119,996,926 15.7 S 554,802,605 7.8 $ 79,499,810 1.1 11 1,SB4,260 $ 1,119,633,176 16.2 S S49,493,092 8 $ 80,001,410 1.2 $ 1,738,200 $ 1,108,642,407 16.5 $ 548,23%541 8.1 $ 80,669,700 1.2 $ 1,758,220 $ 1,001,176,523 16.6 5 SD2,245,262 8.3 $ 79,351,860 1.3 5 2.541,963 $ 966,659,459 16.6 $ 482,528,656 8.3 $ 74=380 1.3 $ 219491150 $ 879,281,368 16.3 S 420,708,451 7.8 $ 79,499,600 1.5 5 3,484,890 $ 959,076,798 16.3 1 415,794,401 7.9 $ 80,349,950 1.5 S 3,814,000 $ 1,158,203,990 23.8 NA $ 78,113,470 1.6 S 3,784,57D $ 1,123,549,063 24.0 S 406,5.18,190 8.8 $ 79,554,303 1.7 g 1,229,491 $ 1,123,700,509 24.7 $ 372,561,511 812 $ 7%137,324 1.7 $ 1,29584 $ 1,011,726,961 23.2 S 320,D44,017 7.1 $ 71,689,617 1.6 $ 1,521,155 $ 1,007,997,233 2U $ 353,686,661 8,1 $ 71,S49,829 1.6 $ 1,410,644 $ 1,007,659,858 23.1 5 370,907,837 8.5 $ 72,001,269 1.7 $ 1,460,619 $ 997,779,166 23.7 $ 390,617,823 9.3 $ 72,602,731 1.7 $ 1,432,6$4 S 901,058,871 23-3 S 376,583.947 9.7 S 71,416,674 1.8 5 1,426,863 $ 8MOD2,513 23.3 S 379,991,316 103 $ 46,621,042 1.6 $ 1,608,997 $ 791,353,231 22.6 $ 347,D84,472 9.9 S 71,540,640 2a g 1,655,309 $ 773,L69,118 22.9 S 358,622,6M 1916 $ 72,314,S95 2.2 $ 1,759,513 $ 1,D42,383,591 33.3 NA 1 70,302,123 2.2 $ 1,691,782 T_ III Aw,.ww w.A ti-111 .w. r1.,,ar *r;-- --A V —.. rw. Vw... f^L... u. w.,, :w. Twrwl Awww.ww A II-1— 5� zoo 9s.aoo is Sroo sago Soo Im m m m m ® N G o ® m p $107 $119 $105 $92 _ $45 $117 $�2 . s— — $59 _ $59 _ $9a $91m 1�Q 1bS 11b6 11b, 1048 11b9 1010 10 11 10 11 1% 1011 1O1s 1016 1011 1104 11019 10 10 1011 1011 1011, 10111 Total Assessed Value Total Change In Value (Millions .3 -- — — — ------ -- -- 719 — $sas $396 $412 $325 — - 5211 -- $157 $230. Iowa City Assessor's Office 2024 Annual Report 18 RISE AT RIVERFRONT CROSSING OWNER I[, LLC HOLUNGSWORTH CAPITAL PARTNERS-IOWA, LLC MIDWESTONE BANK BBCS-HAWKEYE HOUSING, LLC TAILWIND IOWA CITY, LLC DEALER PROPERTIES IC, LLC TAILWIND COLLEGE STREET, LLC 1201 GILBERT, LLC GRADUATE IOWA CITY OWNER, LLC vj§JLLI� PROCTER & GAMBLE HAIR CARE LLC IOWA CITY HOTEL ASSOCIATES, LLC FSC HEALTHCARE IV DST HIERONYMUS SQUARE DEVELOPERS, LLC NATIONAL COMPUTER SYSTEMS, INC ALPLA, INC WEBBER-IOWA, LLC AUGUSTA PLACE, LLC MENARD, INC CHUANCEY, _LC (THE) TSB HOLDINGS, LLC IOWA CITY INDUSTRIAL PARTNERS, LLC VESPER IOWA CITY, LLC HODGE ET AL (OLD CAPITOL TOWN CENTER) RIVERFRONT CROSSING HOSPITALITY OWNER, LLC LBO PROPERTIES, LLC If MidAmerican Energy were included, $68,694,600 $31,988,880 $30,602,880 $57,606,540 $50,041,220 $25,385,130 $38,766,510 $45,412,110 $20,737,670 $21,065,530 $17,556,320 $17,935,770 $19,091,240 $16,785,510 $16,559,910 $31,810,510 $30,261,200 $15,575,200 $15,458,330 $21,141,550 $14,727,310 $28,000,000 $13,619,440 $13,599,150 $13,515,660 it would rank IsIr with $1,574,380 Taxes Billed. 332 3 6 522 352 4 10 231 1 3 1 1 23 2 2 120 125 1 60 4S 2 201 2 1 1 $1,292,296 $1,163,324 $1,143,464 $1,083,672 $941,278 $922,070 $898,472 $894,236 $801,440 $766,922 $678,060 $652,584 $618,558 $610,562 $602,320 $598,398 $584,498 $566,346 $558,972 $558,574 $535,370 $526,830 $525,378 $494,156 $491,106 (Sorted by Assessor levy - Low to High) IOWA CITY .23571 .22479 39.66059 40.59188 DUBUQUE .27763 .27220 .25152 31.55253 30.1238 CEDAR RAPIDS .26969 .27591 .29872 38.59404 38.18616 AMES .33790 .35183 .32228 30.78531 30.64564 SIOUX CITY .35920 .29891 .33286 36.70291 37,47835 DAVENPORT .30404 .33937 .35131 39,08417 37.63357 MASON CITY .49063 .48973 .48952 36,21995 33.57251 20 The median sales ratio (median) is the middle sales ratio and a measure of the percent of our assessment to the actual sales prices. The coefficient oft - i IQWA CITY 43.43allo 93.79°l0 93.1$96 7:8348 101% dispersion (C.O.D.) is a measure of assessment uniformity based on the degree to which individual sales ratios vary from the median sales ratio. The goal of OALLAS 93.52% 93.88% 92.94% 8.36% 101% the Iowa City Assessor is to keep this C.O.D. below 10. A C.O.D. of 10 is JOHNSON 94.10% 92.73% 91.17% 10.06% 103% considered excellent. The Iowa Department of Revenue provided the statistics. prior to 2021. They did not provide the 2023 statewide statistics. The STORY 94.30% 94.43% 93.53% 10.07% 101% statewide numbers were compiled through a survey of all assessors in Iowa. There was not 100% participation, so these should be considered unofficial BREMER 90.36% 90.61% 88.35% 11.030k 102% results. RESIDENTIAL SALES STATISTICAL ANALYSIS SCOTT 93.00% 91.43% 91.36% 11.03% 102% The following statistics are for Residential sales, with tables showing the ranking of Iowa City in comparison to the other 106 assessing jurisdictions in Iowa. For brevity, only the top 10 are shown. Data is for 2023 sales which is the last complete year available These tables show that Iowa City is one of only two jurisdictions in Iowa with a C.O.D. of less than 10. Iowa City also has a large number of sales as could be expected by its size and mobile population. LINN 97.05% 94.46% 94.93% 12.58% 102% WARREN 94.25% 92.56% 92.39% 13.110/a 102% AMES 96.54% 95.58% 96.12% 13.20% 100% DURUQUE 95.34% 92.21% 93.34% 13.23% 103% COUNTY 21 The Regression Index, also known as the Price Related Differential (PRD), is an indicator of the degree to which high value properties are over or under assessed in relationship to low value properties. An index of 100 indicates no difference in assessments of high value properties in comparison to low value properties based upon that year's sales. An index over 100 indicates that high value properties are under assessed in relation to low value properties. As you can see in the following table, Iowa City's regression index is still close to the ideal 100 level. For brevity, only the top 14 are shown. SORTED BY REGRESSION INDEX (URBAN RESIDENTIAL) CM IL id JW'AMES 96.54% 95.58% 96.12% 13.20% 100% IOWA CITY 93.93% 93.79% 93.18% 7.83% 101% DALLAS 93.52% 93.88% 92.94% 8.35% 101% _DUBUQUE (CITY) 94.70% 93.76% 93.34% 13.79% 1010l0 STORY 94.30% 94.43% 93.53% 10.07% 101% W BREMER 90.36% 90.61% 88.35% 11.03% 102% LINN 97.05% 94.46% 94.93% 12.58%10 102% LYON 96.24% 95.86% 94.71010 18.45% 102% MITCHELL 96.97% 93.42% 94.81% 15.97% 1_ 102% SCOTT 93.00% 91.43% 91.36% 11.03%# 102% WARREN 94.25% 92.56% 92.39% 13.11% 102% IL JOHNSON 94.10% 92.73% 91.17% 10.06% 103% DUBUQUE (COUNTY) 95.34% 92.21% 92.17% 13.23% 1030/h POLK 97.40% 93.80% 93.70% 15.05% 103% 22 Below is a tabulation of year -by -year sales statistics for Iowa City Residential Property over time. � �5[-TGIF--lilt• _\'Il!`71[aJ7[ 10Lr3'[5l f-Y.1ra6A �Y� 90.72 8.45 868 $345,743 $300,000 mix+W- 93.79 7.83 942 $313,112 $283,450 MENEft&W 82.13 9.93 1131 $309,340 $270,000 it&W 89.37 8.76 1192 $292,726 $250,000 ?+YI+l 93.26 7.89 1050 $273,210 $240,000 95.22 6.87 1034 $275,980 $250,000 +74=i 88.73 7.84 1020 $266,715 $230,000 mmmmtaUu 91.35 7.60 1069 $246,289 $219,900 + . 92.44 7.69 1064 $224,879 $204,900 iidlFRy 94.20 7.30 999 $219,886 $205,700 92.62 7.49 974 $209,633 $198,500 i�T+Fki 95.18 6.72 937 $204,632 $187,500 96.55 8.02 826 $195,585 $175,000 iYI+Fi■ 97.57 7.32 740 $191,701 $171,900 F 95.92 9.99 745 $182,635 $165,400 +'- 95.42 8.29 796 $191,459 $172,700 OMMiliftZ4Iifil 95.92 7.92 833 $188,873 $172,000 iAI+LYI 95.00 7.88 856 $192,294 $166,000 monnotU+I+a 88.70 9.67 665 $197,878 $162,000 �1+�,"1 90.50 8.61 717 $186,437 $154,950 +T+• 84.50 9.57 751 $176,136 $152,200 momog%I+Dk� 88.30 7.93 809 $159,766 $141,000 * All odd numbered years are re -Assessment year # - Starting in 2017 avg sale price includes new construction. Previously did not include new construction. No (nrisdiction # ofSaies Mean Median C 0 D 1W- PRD 1 MUSCATINE 14 102.27% 100.49% 10 42% 106% 2 SCOTT 29 95.16% 95.53% 16.28% 107% 3 DICKINSON 90 85.13% 92.48% 16,83% 107% 4 BREMER 20 79,66% 76.44% 17.69% 111% S JOHNSON 28 87.25% 93.60% 18.810/6 101% 6 IOWA CITY 14 89.06% 81.32% 19.47% 104% 7 CERRO GORDO 10 82,36% 85.91% 19.55% 99% 8 CASS 16 94,23% 96.83% 20.15% 122% 9 BENTON 21 85.59% 89.52% 21.19% 103% 10 DALLAS 24 92.36% 90.68% 21.88% 103% 11 HUMBOLDT 10 86,95% 91.74% 22,36% 93% 12 APPANOOSE 12 90,76% 91.14% 23,13% 114% 13 BUENA VISTA 14 79,01% 87.84% 23,81% 106% 14 DUBUQUE (CITY) 22 89,19% 88.42% 24.27% 102% 15 WASHINGTON 17 103.35% 102.82% 24.92% 102% 16 CHICKASAW 15 107.94% 97.31% 25.42b/o 112% 17 POCAHONTAS 11 94.94% 103,02% 25.50% 129% 18 MASON CITY 14 82.07% 83.50% 25,81% 122% 19 MARSHALL 15 109.44% 112.22% 26,10% 109% 20 STORY 26 79,84% 80.27% 26,43% 107% The Coefficient of Dispersion for Commercial properties varies from 10.42 to 63.55 with a median of 29.98 for all Iowa jurisdictions while Residential C.O.D:s vary from 7.91 to 42.30 with a median of 21.92. Commercial properties are typically more difficult to appraise than residential properties because of the wide variety of building types and fewer comparable sales. For this reason, only jurisdictions with at least 10 sales are included in the table. Iowa City Assessor's Office 2024 Annual Report 24 HISTORICAL COMMERCIAL SALES -.ian C.C.-O.D. Estimate 2024 87.49 19.78 15 2023 81.31 19.47 14 2022 82.57 15.72 23 2021 88.30 15.26 19 2020 94.90 18.86 11 2019 91.28 16.87 22 2018 78.88 14.13 9 2017 95.25 12.03 6 2016 92.54 21.77 19 2015 90.67 13.13 12 2014 90.82 15.39 12 2013 92.98 18.15 20 2012 93.51 12.84 14 2011 90.83 27.99 18 2010 97.77 12.82 29 2009 89.21 13.60 29 2008 95.29 21.32 36 2007 91.80 23.24 35 2006 87.55 17.05 26 2005 85.65 15.52 34 2004 80.90 17.82 17 To the left is a tabulation of year -by -year sales statistics for Iowa City commercial properties. Because of the small number of sales, one or two bad sales can greatly influence the performance measurements, therefore creating greater fluctuation in the numbers. See data above to illustrate this and to show Iowa City's standing. 25 1 z 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 STATISTICAL ANALYSIS OF RES 3+ SALES (FORMERLY MULTI -RESIDENTIAL) MULTI -RESIDENTIAL SALES SORTED BY C O D (2022 Sales Analvs1s) PAGE 7 99.58% 104.75% IV 11.32q. 115% STORY 8 98.05% 98.18% 12.12°% 98°% LINN 13 91.19% 93.29% 12.24% 103% 1JOHNSON 7 76.53°% 77.80% 12.80% 98% ' DUBUQUE (CITY) 15 78.75% 74.30% 14,68% 108% WASHINGTON 5 72.68% 74,06% 17.78% 126% LEE 8 97.93% 108,00% 17.99°% 100% GUTHRIE 5 68.21% 63.69% 18.02°% 102°% SIOUX CITY 28 102.08% 98.75% 18.31% 101% MASON CITY 11 100.55°% 96.88% 19.95% 92°% CEDAR RAPIDS 28 89,22% 84,86% 21.37% 104% WEBSTER 7 85.05% 89,38% 21.55% 104% IOWA CITY 6 109.58% 101.780% 22.41% 106% MUSCATINE 11 126.92% 107.31% 25.39% 121% DES MOINES COUNTY 9 112.45% 102.67% 26,021% 112% MARION 10 70,31% 68,29% 29.29% 115% POLK 60 102.90% 93,20% 29.90°% 115°% DAVENPORT 30 104.23% 92.58°% 30,16% 118% JASPER 6 74.16% 63.68% 31.0811/6 109% MARSHALL 9 81.87% 78.18% 31.80% 89% The Coefficient of Dispersion for Multi -Residential properties varies from .23 to 62.78 with a median of 20.22 for all Iowa jurisdictions. Only jurisdictions with at least 5 sales are included in this table. m Below is a tabulation of year -by -year sales statistics for Iowa City Multi -Residential proper -ties, which has been re -labeled as Residential 3+ starting in 2022. Because of the small number of sales, one or two bad sales can greatly influence the performance measurements, therefore creating greater fluctuation in the numbers. See data above to illustrate this and to show Iowa City's standing. Year Median C.O.D. # of Sales 2024 94.94 27.88 10 2023 88.62 16.68 5 2022 85.56 24.86 14 2021 87.86 13.55 12 2020 100.50 7.75 13 2019 87.90 10.87 7 2018 77.42 9.93 6 2017 80.47 15.87 8 2016 84.69 14.01 9 2015 86.46 14.16 8 Iowa City Assessor's Office 2024 Annual Report 27 OFFICE OF THE IOWA CITY ASSESSOR !•, fir' ' iX` J i' Item Number: IP3. CITY OF IOWA CITY COUNCIL ACTION REPORT January 30, 2025 Work Session Agenda Attachments: Work Session Agenda Subject to change as finalized by the City Clerk. For a final official copy, contact the City Clerk's Office 356-5041 If you will need disability -related accommodations in order to participate in this program/event, please contact Kellie Grace at 319-356-5041, kgrace@iowa- city.org. Early requests are strongly encouraged to allow sufficient time to meet your access needs. Iowa City City Council - Work Session a t Agenda =- Work Session ""` ., R February 4, 2025 - 4:00 PM CITY OF IOWA CITY Emma J. Harvat Hall 410 E. Washington Street www.icgov.org City of Iowa City Land Acknowledgment can be found at: icgov.org/landacknowledgement Meeting Rules can be found at: icgov.org/meetingrules You can watch the meeting on cable channel 4 (118.2 QAM) in Iowa City, University Heights and Coralville, or you can watch it online at any of the following websites: • https:Hcitychannel4.com/live • https://www.youtube.com/user/citychannel4/live • https://facebook.com/CityoflowaCity Following the 4:00 PM City Conference Board meeting 1. Clarification of Agenda Items 2. Information Packet Discussion [January 23, January 30] Council direction needed on the following: . 1/30 (IP7) Memo from Neighborhood Services Coordinator: Revised A2A Program Policies 3. University of Iowa Student Government (USG) Updates 4. Annual Historic Preservation Annual Report Presentation 5. 21 S. Linn Street Discussion 6. FY26 Budget Discussion 7. Council updates on assigned boards, commissions, and committees Item Number: IP4. a CITY OF IOWA CITY "QF T-4 COUNCIL ACTION REPORT January 30, 2025 Memo from City Manager & Economic Development Coordinator: 21 S. Linn Street Redevelopment Proposals with Staff Recommendation Attachments: Memo from City Manager & Economic Development Coordinator: 21 S. Linn Street Redevelopment Proposals with Staff Recommendation 21 S Linn Request for Proposals Grand Rail Development Proposal Iceberg Development Group Porposal Salida Partners Proposal r t�+_,,:,�, CITY OF IOWA CITY - �< �5 1�ml F MEMORANDUM Date: January 30, 2025 To: Mayor and City Council From: Geoff Fruin, City Manager Rachel Kilburg Varley, Economic Development Coordinator Re: 21 S. Linn Street Redevelopment Proposals with Staff Recommendation Background The City acquired the vacant lot at 21 S. Linn Street in August 2023 at a purchase price of $4.5 million. The property was purchased from an out-of-state firm that previously planned a student -centric high-rise residential development. After that project stalled, the City fielded inquiries from prospective buyers about combining the parcel with directly adjacent properties. Based on economic and market conditions, any market -rate development on the parcel would have likely been additional student -centric housing, with the possibility that adjacent properties of historic value would be acquired and demolished as part of a larger project. Diversification of uses in the Central Business District is critical to the long-term health and economic success of the downtown and larger Iowa City community. Over the last two decades, the City has invested considerable resources to diversify downtown housing options, increase market share of hotel rooms, grow office space, expand and strengthen arts and cultural offerings, bolster infrastructure, and create accessible public spaces that can host various gatherings. These efforts work in concert to help create a vibrant urban center that is welcoming and attractive to all residents and visitors. The City's decision to purchase the 21 S. Linn Street property was made with an understanding of current private market conditions and an intent to guide the future development through a public / private partnership (P3) in a manner that will best meet the continuing goal of ensuring the long-term health and economic success of the downtown. After purchasing the property, the City undertook a public input process to help inform and guide the P3 process. This informed the drafting of a Request for Proposals (RFP) document for the redevelopment of 21 S. Linn Street, released on September 3, 2024. The stated purpose of the RFP "is to solicit proposals from developers and development teams for the development of a contextual, mixed used, and property tax generating building on this property." (page 3) A copy of the RFP is provided as an attachment. Proposal responses were due November 1, 2024, and the City received three responses. A staff review committee consisting of representatives from the City Manager's Office, Economic Development Division, Neighborhood & Development Services, Public Works, and the Senior Center reviewed each proposal and subsequently invited each responding team for a meeting to clarify the components of their proposal. Additionally, staff met with three potential tenants, including the Englert Theatre, Stories Project, and The Housing Fellowship, each named in multiple proposals, to clarify these organizations' interest in the project. Responses were evaluated based on the criteria outlined in the RFP: January 30, 2025 Page 2 • Alignment with the overall project vision, including the vision for Downtown Iowa City and City Council's Strategic Plan ■ Responsiveness to RFP Section 3 Project Goals (mixed -use building with active/engaging first floor use and design, mix of housing types and affordability for any residential uses, high -quality construction standards exceeding minimum building code requirements, leadership in climate action, and contextual architecture) • Overall project feasibility, including submittal team's experience and capabilities, market and economic viability of the proposal, and long-term fiscal benefit to the City While all proposals clearly sought to address and incorporate the City goals and priorities outlined in the RFP with similarities among them, each proposal differs in approach as it relates to building scale and construction type, distribution of mixed uses, housing strategy, and financial viability. Based on City staff's review and follow-up meetings with the submittal teams, the following information summarizes key clarifications, differentiators, and considerations for each proposal. (The following summaries are listed in alphabetical order of the lead developer and do not represent a ranking): Grand Rail Development, Urban Acres & OPN Architects The Grand Rail Development team proposes a mid -rise (6-story) building of Type II (steel framing) construction designed to LEED Silver standards with rooftop solar, full -building electrification, and possible rainwater harvesting. The building features a flexible first floor layout proposed for a 6,300 square foot entertainment use. However, the development team also indicates a willingness to divide the first floor to accommodate additional or alternative uses such as restaurant or retail. To achieve the goal of an active and engaging first floor use, further discussions would be needed during the design phase to ensure ground floor activity is not overly limited to certain hours or days of the week. It is noted that the proposal includes letters of interest from the Englert Theatre and Stories Project for the lease or purchase of commercial and/or office space. Upper levels include three floors of market -rate office space and two floors of residential use. The team indicates a willingness to work with the City should office space be desired at this location for municipal operations. Additionally, the proposal includes letters of interest for office space from OPN Architects and ACT. The upper two levels of the building include twenty residential units with a rooftop amenity space. The residential portion of the project includes sixteen market -rate units and four units of affordable housing. The Housing Fellowship submitted a letter of interest pertaining to the affordable units. The proposal also indicates a willingness to consider a short-term rental arrangement in partnership with the University of Iowa International Writing Program, which also submitted a letter of interest. Much like the ground floor commercial space, the team indicates a willingness to work with the City should the mix of office and residential uses need to shift during the design phase of the project. A key differentiator of the Grand Rail proposal is the mid -rise design which aims to maximize flexibility across the commercial and office floor plans. The development team indicates a willingness and desire to modify the first floor and office level floor plans in order to meet top priorities of the City. A second differentiator of the Grand Rail response is that the proposal is financially viable as presented. The response proposes a $3 million land purchase price from the City and does not include a request for any gap financing, including Tax Increment Financing (TIF). However, the development team has indicated that if certain non-profit tenants are a priority, such as the Englert Theatre or Stories Project, it is January 30, 2025 Page 3 anticipated those individual tenants may request TIF assistance. If there are additional public benefits desired by the City, the team is open to a development agreement which includes TIF or a reduced land purchase price to help the City facilitate those priority objectives. Based on the information in the proposal, staff estimates a total project valuation of approximately $21.5 million with a split of $12.85 million in commercial and $8.65 million in residential uses. Staff views this project as financially viable and one that meets the baseline stated goals. However, should the City Council wish to include non-profit entertainment uses or expand the number of affordable housing units, it should expect that a reduced purchase price and/or use of TIF will be necessary to support such priorities. Iceberg Development, Slingshot Architecture & Hodge Construction The Iceberg Development response proposes a 13-story building that is anchored by a Low Income Housing Tax Credit (LIHTC) component providing an estimated seventy-six affordable one and two bedroom senior housing units throughout seven floors of residential use. Under this plan, the tenants' average income per unit would be between 40%-80% area median income and half of the units would, serve tenants at 60% or below area median income. The proposal addresses the City's goal for an engaging first floor with three market rate micro -retail spaces (600-700 square foot each) plus approximately 3,800 square feet for a restaurant, entertainment venue, and/or larger anchor retail. A letter of interest from the Englert Theatre is included in this response. Depending on the final mix of commercial uses, the team can be flexible on storefront placement to best meet the City's goal for an active and engaging ground floor presence. In addition to ground floor commercial and affordable senior housing, the upper levels include five stories of office space to accommodate potential City needs, as well as private market demand. A letter of interest from ACT is included with the response. The development team indicates that any of the five floors of office could be eliminated to reduce the size of the building or can be converted to additional residential units depending on City priorities and cost in the design phase. The team intends to construct the building utilizing Type 1-A standards and, in accordance with the Iowa Finance Authority's (IFA) building and energy code standards, which typically exceed minimum standards. Full -building electrification would be a goal. The key differentiator of the Iceberg proposal is the intent to leverage a LIHTC award to provide a significant number of affordable senior housing units with a minimum 30-year affordability period. Purpose built senior housing is underrepresented in the downtown's residential offerings and would provide more older adults an opportunity to live and socialize in a walkable urban setting adjacent to the Iowa City Senior Center and Iowa City Public Library, as well as shopping, the University of Iowa, and a plethora of arts and culture opportunities. While a LIHTC award would be a desirable and significant boost to this project, the LIHTC application timing could delay redevelopment activity. The type of LIHTC award would also change the financial picture. IFA offers a competitive 9% tax credit program and an administrative (non-competitive) 4% tax credit program. The application window for the 2025 9% funding round closes in February 2025, which means an application by Iceberg for 21 S. Linn would need to wait until the 2026 funding round and, of course, an award is not guaranteed. Additionally, although applications are accepted on a rolling basis for the non-competitive 4% program, it is currently oversubscribed so a waiting period of up to a year is expected. Work on the LIHTC application process can happen simultaneously with the project design January 30, 2025 Page 4 and may not require additional delay if awarded in 2026. However, there is a greater possibility that this project may require more time to reach ground -breaking compared to any other viable projects not including LIHTC. To achieve a level of housing affordability as detailed in this proposal, the City should expect a potentially longer process. The pro forma included in the Iceberg response is based on a 4% LIHTC award, which includes a $2 million proposed land purchase price. Assuming a 4% LIHTC award, the remaining financial gap is estimated between $7-$9.6 million. Staff estimates that for TIF to fill that gap, it would require the full increment for approximately 8 to 12 years. If a 9% LIHTC award were to be sought and awarded, the anticipated financial gap and TIF ask would be significantly reduced, if not eliminated. However, the inclusion of non-profit organizations or subsidized uses in the commercial or office portions of the project may increase the amount of gap financing or TIF needed. Based on the information in the proposal, staff estimates a total project valuation of approximately $24 million. The overall valuation is reduced from what may be expected on a project of this scale as the LIHTC residential portion is assessed differently than market rate units. However, the entire project would be taxable as commercial, meaning the taxable assessment would be ninety percent of the total valuation and not subject to the residential rollback. Staff views this project as financially viable and one that meets the stated goals for the project. The inclusion of LIHTC housing can result in the City achieving far more affordable units than would be included in any other proposal. However, LIHTC also presents possibilities for project delay compared to other financially viable projects that are not dependent on the award of tax credits. Salida Partners, Shive Hattery, Skydeck Capital & Simeon Talley The Salida Partners response proposes a 10-story building designed to LEED Silver standards and utilizing innovative mass timber construction. The proposal and design address the City's goal for an engaging first floor with the inclusion of the two-story "Billy's," a flex entertainment venue and micro - kitchen front of house space dubbed a `community -living room' managed by the Englert Theatre. The ground level also includes the primary entrance for the upper level Stories Project museum, five market - rate flexible micro -retail (300sf) spaces, and an art alley that provides outdoor community gathering space. Floors 2-5 are proposed to include commercial and office space, including an emerging artist gallery and seating area, flex office space to meet changing employers' needs, approximately 9,000 square feet for the Stories Project and up to 20,000 square feet for City offices, if needed. On the upper floors a mix of residential types including approximately sixteen units of market -rate senior, six 2-bedroom affordable units (potentially leased for ownership to The Housing Fellowship which submitted a letter of interest), ten market rate units, and fourteen short-term stay units which would be targeted for rent by the University of Iowa International Writing Program for several months of the year. Lastly, a rooftop pavilion and exterior space are provided for use in conjunction with the Englert Theatre and Stories Project. Key differentiators of the proposal are the strong anchoring of the non-profit cultural uses and the use of mass timber in the construction approach. The design and layout of the first couple of floors is purpose- built to elevate the visibility of the Englert Theatre and Stories Project. While those tenants/uses are mentioned in other proposals and Salida Partners has indicated a willingness to modify final uses, the inclusion of these non-profit entities is a central element in maintaining the overall vision of the proposal. The use of mass timber construction is another unique aspect of this proposal and would introduce a new sustainable construction technology that Iowa City has not yet seen in local development projects. January 30, 2025 Page 5 The Salida Partners submittal offers two pro forma scenarios, one of which shows market rate rents for all office, commercial, and non -affordable residential units; and the other which shows reduced rents for the Englert/Billy's, Stories Project, proposed City office space, and affordable residential units. Both scenarios assume a $1 purchase price for the land and a full TIF ask of an estimated $800,000 per year for a minimum of fifteen to twenty years. Even with this City assistance, a significant financial gap exists in both scenarios. In the market rate pro forma, a gap of around $1 million remains. The reduced rents pro forma shows a gap of over $5 million. With no clear and emergent funding source identified to fill that gap, staff has concerns that the project is not financially viable as presented. In addition, the emphasis on the non-profit uses — even at market rate rents — raises questions and concerns about long-term tax generation, future dependency on City assistance to sustain operations even outside of TIF support, and overall long-term economic viability. Knowing that it would be a new venture for both the Englert Theatre and Stories Project, operational and financial start-up funding required for these entities is a final concern. Based on the information in the proposal, staff estimates a total project valuation of approximately $37 million with a split of $16 million in commercial and $21 million in residential uses. Staff has strong concerns about the financial feasibility of the project given the inability to purchase land, the need for the full TIF increment for the maximum duration, and additional gap financing that is not identified even under market rate assumptions. Given the vision for the inclusion of numerous non -market rate components in the project, the gap is too significant to be realistically met. With a substantial anchoring by non-profit uses, the long-term viability of the project beyond the TIF period and the dependency on City support for operations adds to feasibility concerns and falls short of RFP goals related to financial performance of the project. Stories Project & The Englert Theatre The RFP did not require or specifically encourage the inclusion of a non-profit cultural use; however, each of the proposals either mentioned or included — at varying levels of commitment — the Stories Project and/or Englert Theatre. Since inclusion of these uses can significantly impact the financial viability of a project, there are a few points of clarification worth noting as the City Council considers next steps. The Stories Project envisions the establishment of an immersive museum which celebrates storytelling and draws visitors to Iowa City by welcoming and engaging diverse audiences that appreciate great writing in all forms. As shown in greatest detail in the Salida Partners proposal, the Stories Project is seeking at least 15,000 square feet of space, but ideally 30,000 square feet. At the 30,000 square foot scale, the Stories Project assumes a need of approximately $9.5 million in fundraising to build out the space, develop museum exhibits/content, and cover revenue shortfalls in early years. Beyond startup, the Stories Project anticipates annual operating expense of approximately $2 million for the first five years. Reflected in their included Profit & Loss pro forma, which is based on existing institutions they view as comparable, this annual operating cost assumes a State/Local government revenue contribution of approximately $498,000 for the first three years of operation. It should be noted that while the Stories Project is seeking 30,000 square feet and believes that 15,000 square is the minimum viable space needed, the Salida Partners proposal anticipates 9,000 square feet with an ability to grow the space if needed. No other proposals specifically noted space for the Stories Project, but all would welcome inclusion if prioritized and financially supported by the City. The Englert Theatre is seeking to fill a programming and venue gap with a 200-300 seat flex performance venue that would offer food and beverage service. In meeting with the Englert Theatre, the targeted January 30, 2025 Page 6 space would fill a need that was previously met by the former Mill restaurant and bar. The business plan would aim to cash flow operations through the food and beverage service and avoid future dependency on government support. However, the Englert Theatre would need to engage in fundraising and would require City assistance with buildout and a below market lease. Ownership of the space is desired in the long term but is not likely possible from the outset. The Englert Theatre and Stories Project can make compelling cases for incorporation into this project. However, both will likely require significant subsidy in the form of initial build -out and/or subsidized lease terms. While both organizations hope to be operationally self-sustaining, staff anticipates ongoing subsidy is likely to be requested. These factors certainly do not preclude one of these uses from being included in a final project proposal, but do alter overall financial viability and will impact factors including, but not limited to, other uses in the building, the City's percentage recoupment of its initial land purchase investment and annual tax revenue generated to support existing services and non-profit partnerships. Quick Reference Comparison Table Staff encourages the City Council to review each of the three individual proposals. However, the following summary table provides a quick reference comparison: Development Team Grand Rail Iceberg Salida Height 6 stories 13 stories 10 stories Construction Type Steel Framing Concrete/Steel Mass Timber (T pe II) (Type l (Type IV) Ground Floor Use(s) 6300 sf flex 2000 sf micro- 6900 sf flex entertainment retail and 3800 entertainment, sf restaurant, kitchen, 1500 retail, or sf micro -retail, entertainment art alley Upper Story Commercial 3 floors 5 floors 4 floors Upper Story Residential 2 floors 7 floors 5 floors Market Rate Units 16 0 40 Affordable Units 4 76 (LIHTC) 6 Total Valuation $21.5m $24m $37m Taxable Valuation $15.6m $21.6m $24.1 m Proposed Land Purchase $3m $2m $1.00 Initial Estimated TIF None (unless $7m-$9.6m $12m-16m full Subsidy requested by (i.e. full (i.e. full nonprofit increment for increment for tenant) 8-12 yrs) 15-20 yrs) Proposal Discussion All three development teams dedicated considerable time, effort, and expense in their responses. Through the submittal and subsequent clarification meetings, it is also evident that all three teams care deeply about Iowa City and are excited to deliver a legacy project that responds to community needs. January 30, 2025 Page 7 Especially in current market conditions, Iowa City is fortunate to have these groups step forward and pledge to work collaboratively to deliver a P3 project that will serve this community for generations. All the proposals appear to lean into entertainment space as the primary use on the first floor. Proposals also indicate flexibility in incorporating restaurant and retail as ground floor uses. Considerations for the City in the next steps include how such uses come together to form an active and engaging pedestrian level experience across as many times and days of the week as possible. Having large ground floor spaces inactive during the day or on certain days of the week can unintentionally detract from the vibrancy of the adjacent blocks and larger downtown area. The City also needs to consider uses that fill a gap that otherwise may not be offered by the private market in existing spaces downtown. This could be in the form of retail space sizing and design that fills a missing need or commercial uses that otherwise would have difficulty locating in the existing downtown building stock. Each proposal includes upper story commercial uses, ranging from entertainment to office. These upper floors provide opportunities for visitors and office users to multiply their economic impact on the downtown through connections with existing nearby retail, restaurant and entertainment offerings. The multi -story commercial uses are extremely beneficial to the health of the entire downtown area and should continue to be explored and prioritized in future stages. Finally, all projects incorporate residential uses that meet the goal of non -student centric design. These units would help attract a more diverse residential population to the downtown and further support a wide range of local businesses, arts and culture programs, and venues. Affordability goals are met with all proposals with two aiming to partner with The Housing Fellowship for approximately four to six units of permanent affordable housing. The third aims to leverage the LIHTC program to produce seventy-six senior units with the average tenant income per unit between 40%-80% of the area median income, and half of the units at 60% or below the area median income. All submittals articulate efforts to utilize enhanced construction methods and offer a contextual design that honors adjacent properties while bringing added vibrancy to the larger district. The scale of the three buildings ranges from six stories to ten to thirteen stories. The larger buildings can accommodate more uses, including residential units, and offer stronger long-term economic performance as measured by taxable valuation to support municipal services. However, the larger scale buildings are more difficult to finance due to constructability standards and often require a higher level of public subsidy. Staff has concerns about the financial feasibility of the Salida Partners project. As previously noted, the project as presented does not cash flow despite a nominal $1.00 payment to the City for the land and full usage of project -based TIF rebates for the maximum period of time. The anchor tenants likely will need additional operating subsidy over time and staff questions the long-term financial viability of the project even after land transfer and full use of TIF is provided. The project falls short of the goal to maximize the recoupment of land acquisition costs and produce a property tax generating property that can support City services, even if additional sources of subsidy are identified. The Grand Rail project is likely the most financially viable out of the gate with no TIF requested and a land purchase of $3 million anticipated. However, if the City wishes to incorporate non-profit or other subsidized uses, the financial return will be further reduced. The lower building scale allows fewer uses, including the smallest number of residential units, which may be a missed opportunity on a prominent corner in the downtown. The project would need to further evolve to ensure an active and engaging January 30, 2025 Page 8 pedestrian level. Lastly, the smaller scale will likely result in a lower taxable assessment compared to other options. The Iceberg proposal appears to be financially viable but is dependent on a LIHTC award which may require patience through multiple funding rounds if the competitive 9% program is sought. The project aims to produce a significantly higher number of affordable housing units, meeting a critical City need and goal. It also has a strong vision for upper floor commercial and ground level retail, restaurant, and/or entertainment uses. In addition to working through the LIHTC program, this project will likely return a smaller portion of the land acquisition investment made by the City (proposed at $2 million) and require some TIF assistance. However, the amount of increment and duration of the TIF are variables that can be negotiated to best meet the City's financial needs. Staff Recommendation Staff recommends the City Council proceed with consideration of the Grand Rail and Iceberg proposals. Staff is not recommending further consideration of the Salida Partners proposal. The next steps would commence with inviting the two recommended development teams to make a public introduction, present their vision, and articulate how the project can advance while meeting stated City goals. These public presentations would facilitate additional public input while the City Council deliberates on a preferred development concept. Limiting the finalists to two at this time will help focus discussions and avoid ongoing investment of Salida Partners' time and financial resources into a proposal that staff does not believe is viable as envisioned. After the presentations, the City Council will have the flexibility to determine the timeline for selecting a preferred development concept. Once a singular team is selected, staff intends to engage a third -party financial consultant to assist with determination of the land acquisition terms and any ongoing gap financing, if requested. Collaboration between the development team and City will lead to a purchase agreement for the property and potentially a development agreement outlining performance standards and any ongoing public financing. The City Council should keep in the mind that the City invested in this land purchase to ensure the best outcome for the long-term health and economic wellbeing of Iowa City. If at any point in this process the Council does not believe this goal can be achieved, then a decision to end further consideration can be made. Such a delay, while not recommended at this time, would allow the City to reissue an RFP after market conditions have changed and there is a reasonable expectation for substantive changes in the number and/or terms of new proposals. The staff would like to again thank all the development teams for the time and financial resources expended to review the public input, engage in the development of a responsive proposal, and offer clarity through the staff review process. Iowa City is indeed fortunate to have multiple teams vying to work collaboratively with the City to construct a property that will anchor our downtown for many decades ahead. Attachments: Request for Proposals Document Grand Rail Development, Urban Acres & OPN Architects Submittal Iceberg Development, Slingshot Architecture & Hodge Construction Submittal Salida Partners, Shive Hattery, Skydeck Capital & Simeon Talley Submittal � r ib �:22 Ift ®®' 1�*i TO CITY OF IOWA CITY September 3, 2024 410 East Washington Street Request for Proposal: Private Developer for the Iowa City, Iowa 52240- 1 826 (319) 356-5000 21 South Linn Street Property (319) 356-5009 FAX www.icgov.org NOTE: This document constitutes a Request for Proposal, and is not a request for professional services. This Request for Proposal is not a request for a bid or a construction contract, but it is subject to Iowa Code Section 403.8 related to transfer of real property. Moreover, any acceptance of a proposal may result in a binding contract between the City and the proposer, contingent upon certain legislative acts of the City Council related to sale of land and approval of a Development Agreement. Notice to proposers: Submittals must be submitted electronically via IonWave as directed on the City's website at https://www.icgov.org/government/departments-and-divisions/public- works/engineering/construction-project-bids and https:Hicgov.ionwave.net/Login.aspx. Submittals must be complete and uploaded to IonWave in their entirety before 1:00 p.m. (CST) on Friday, November 1, 2024. Submittals should include one (1) electronic (PDF) copy of the submittal. Hard copies or faxed submittals will not be accepted. Late submittals will not be evaluated so applicants are encouraged to allow sufficient time for upload into Ion Wave to avoid encountering last-minute delays or technical difficulties. At its sole discretion, the City retains the right to reject any or all submittals, to ask for clarification, to enter into negotiations to discuss cost, scope of work, procedures, and final work product. Acceptance of a proposal does not constitute approval for construction purposes; other normal administrative and legislation procedures and actions may be required including but not limited to property sale and approval of financing, site plan, development agreement, and building permits. Questions about using Ion Wave may be directed to Megan Vollenweider at McVollenweider(aD-Iowa-City.org or 319-356- 5078. Inquiries to clarify the requirements of the RFP must be made no later than Wednesday, October 23, 2024. All inquiries should be directed via e-mail to: Rachel Kilburg Varley, Economic Development Coordinator, City of Iowa City, Iowa 410 East Washington Street, Iowa City, Iowa 52240 319-356-5248 1 rkilburg(a)-iowa-city.org All inquiries and staff responses will be posted for public viewing on the project posting in Ion Wave(https:Hicgov.ionwave.net/Login.aspx) within three (3) business days of the response. Requests for meetings with project teams or other interested parties will not be accepted. 1 Table of Contents Section 1: Background Information................................................................................. 3 Section 2: About Iowa City & Downtown Iowa City ........................................................ 6 Section 3: Project Description......................................................................................... 8 Section 4: Potential Sources of Public Financial Assistance and the Development Agreement..................................................................................................................... 12 Section 5: Submittal Requirements.............................................................................. 14 Section 6: Reservation and Disclosures....................................................................... 17 Section 7: Evaluation Criteria....................................................................................... 19 Section 8: Non -assignment of Interest......................................................................... 20 EXHIBIT A: 2021 ALTA Land Survey............................................................................ 21 EXHIBIT B: Iowa City TIF Policy................................................................................... 22 EXHIBIT C: Environmental Assessments...................................................................... 23 EXHIBIT D: Litigation Statement...................................................................................24 EXHIBIT E: Signature Form.......................................................................................... 25 2 Request for Proposals Private Developer for the City of Iowa City 21 South Linn Street Section 1: Background information This Request for Proposal (RFP) is directed to private developers and development teams interested in the development of a mixed -use building (the "Project") at 21 South Linn Street. The City's goal is to convey the property to the development team which best meets the City's goals for a contextual, mixed -use development incorporating property tax revenue -generating uses on a prominent downtown corner. The Project site, 21 South Linn Street, is the easternmost parcel of the block bounded by Dubuque, Linn, and Washington Streets. The Project property is approximately 0.4 acres or 15,000 SF. The project site is geographically situated near several critical public facilities. The Tower Place Parking Ramp (510 parking spaces) is diagonally adjacent to the northeast corner of the parcel along South Linn Street. Serving important civic connections, the Iowa City Senior Center is located directly east across South Linn Street and the Iowa City Public Library is located approximately one block south on South Linn Street. Prominent public open spaces, including the Pedestrian Mall and Chauncey Swan Park, are located within one block of the site. Location maps of the project site are included in the subsequent pages. An ALTA land survey completed in 2021 by a previous owner prior to the demolition of the site is attached as Exhibit A. The site is currently owned by the City of Iowa City. The City purchased the site to facilitate private redevelopment in a manner that is in the best long-term interests of the downtown economy and larger community. Additionally, it is expected the private development will generate annual property tax income which the City can reinvest in critical public services. The purpose of this RFP is to solicit proposals from developers and development teams for the development of a contextual, mixed used, and property tax generating building on this property. The City intends to work toward conveying this property to the selected development team. Project goals are consistent with the City's FY23-28 Strategic Plan, Downtown Master Plan, and Tax Increment Financing (TIF) Policy. Specific project goals are detailed further in Section 3: Project Description. 3 Aerial Maps of Project Site — 21 S. Linn Street I --7 9 215 1� 12 i 13 14 3D 44 Washington St Q 229 2p7 211 112215 223 F22 0 61ec�qawk P$YK "e"e1 225 227 V2 105 1 I 744 104 106 110 ics View map online: https://gis.mohnsoncountyiowa.gov/piv/ (parcel # 1010312020) 4 ' Z3 S Linn St � Blackhawk Mini Park _,I Public Literary rTa Tower Place L Parkinn Ramn J j `I L_i ti ' Senior Center court St i � r n w f�i u ll p 9 s+ J .n s 42 F Chauncey Swan Park no ICI' r �� R Section 2: About Iowa City & Downtown Iowa City Iowa City is a vibrant Big Ten university town located in Johnson County in east -central Iowa. Based on 2020 U.S. Census data, Iowa City has a population of 74,828. The population of the larger Iowa City Metropolitan Statistical Area (MSA) is approximately 175,428 and has increased 28.5% since 2000, outpacing both the state of Iowa and the United States by nearly triple. University of Iowa and University of Iowa Hospitals & Clinics: Iowa City is home to the University of Iowa with approximately 31,500 students, and the University of Iowa Hospitals and Clinics, one of the largest teaching hospitals in the nation. The academic and research mission of the University, along with the healthcare services and employment provided at the hospitals and clinics, have a stabilizing influence on the area. As a center of culture, athletics, education, and commerce, the University attracts millions of visitors throughout the year. The University of Iowa campus is adjacent to Downtown Iowa City, with several academic facilities and health clinics located directly within the Downtown District. This location fosters a deep town -gown relationship between the University's students, faculty, staff, and guests and Downtown Iowa City. Strong and Diverse Economy: Iowa City boasts a strong and diverse economy, anchored by the University of Iowa (23,488 employees) and the University of Iowa Hospitals and Clinics (9,443 employees). The second largest employer is the Iowa City Community School District, which has 2,000 employees and serves more than 14,000 students in the Iowa City area. Iowa City's historically low unemployment rate (2.1 % as of May 2024) is demonstrative of the city's stable economic conditions. Iowa City also hosts a number of national and international businesses, including several Fortune 500 Companies. Iowa City is home to ACT, RR Donnelley, and Procter and Gamble; as well as many smaller industries and businesses including over 150 businesses in Downtown Iowa City. In 2023, Iowa City was named the Small Business Administration's Iowa Small Business Community of the Year. Arts & Culture: Iowa City is the first city in the United States to be named as a UNESCO City of Literature due to the heritage around the University of Iowa Writer's Workshop and the city's deep literary culture and history; this designation attracts events and writers from around the world. The City of Iowa City also offers many arts and cultural attractions including music and arts festivals throughout the year, venues such as the historic Englert Theatre, Film Scene nonprofit cinema, and Riverside Theatre. National Recognitions: Iowa City has a track record of being one of the best places in the country to live, work, and recreate. Recent recognitions include: The Best College Towns in the Midwest, Conde Nast Traveler Top 20 Best Small Town to Retire, HGTV A Top 100 Places to Live in the US, Livability #4: Best Cities For Working Parents, SmartAsset #46: Best Places to Live in the US, Livability #13- The 50 Happiest Cities in the United States, USA Today Downtown Iowa City Downtown Iowa City is a vibrant economic and cultural hub of the Iowa City community. It is home to many independent, locally owned boutiques, shops, restaurants, residential, grocery, and entertainment venues along with a variety of major festivals such as Iowa Arts Festival, Iowa City Jazz Festival, Friday Night Concert Series, Block Party, and many other celebrations and parades. Downtown Iowa City also features one of the few remaining pedestrian malls in the nation, which serves as a popular location for events and festivals and is lined with sidewalk patios. From July 1, 2023 to June 1, 2024, the Downtown District had 907,800 visitors, creating 8.8 million unique visits. Downtown Iowa City's design aesthetic features a valued historic building stock alongside contemporary architecture, reflecting the authenticity of a Downtown that has evolved over the past 175 years. It offers a bikeable and walkable urban grid and the main public transit interchange offering access to both the City's and University's free bus service. The City, Downtown, and University of Iowa have made important policy, program, and financial investments in recent years to foster a clean, safe, and welcoming downtown environment for all community members. Downtown Iowa City's adjacency to the University of Iowa central campus, Old Capitol, and Pentacrest creates a unique and important connection between the 31,500+ students and 32,900+ staff and faculty and the larger community. The University of Iowa offers over 100 fields of study and features one of the largest teaching hospitals in the country. The University has consistently earned ranking as one of the nation's top public universities while the hospital has been named one of the best hospitals in the country and one of the top 100 hospitals in the world. The University's academic events, readings, speakers, concerts, arts and cultural exhibits and performances, and athletic events attract hundreds of thousands of visitors to Iowa City each year. The 21 S. Linn project is site is located nearby several important public facilities and civic connections in the Downtown. The Saturday morning farmers market, located just one block east of the project site, sees tens of thousands of visitors each year between May and October. The Iowa City Public Library, approximately one block south, has served the community from a downtown location since 1896 and last year welcomed 526,659 visitors from across Johnson County with over 1.2 million checkouts. The Iowa City Senior Center, located directly across S. Linn St. from the project site, serves nearly 1,500 members and over 100,000 visits per year. More information about Downtown Iowa City can be found at www.downtowniowacity.com and www.iowacityarea.com. Section 3: Project Description Overall, 21 S. Linn project proposals should align with and contribute to general vision for the Downtown including increasing taxable valuation of the property, encouraging projects and uses which draw and increase the number and diversity of people working, living, and visiting downtown, fostering a sustainable and authentic urban center, and providing a pedestrian -oriented, safe, and inviting environment. Project Goals The 21 S. Linn Redevelopment Project is envisioned as a mixed -use building which complements and takes advantage of the close proximity to key assets in Downtown Iowa City, including the Tower Place Parking Ramp, and other previously noted civic facilities. The building should promote an inclusive urban experience which advances City and Downtown goals including economic viability, walkability and multi -modal transportation, art and culture, safety and cleanliness, and engaging street -level design. In general, Proposals are encouraged to align with the values and priorities outlined in the City's FY2023-2028 Strategic Plan and other adopted plans as referenced in the Iowa City TIF Policy (Exhibit B). Proposals to this RFP should describe how they are meeting one of more of the following Project Goals: o A mixed -use building with active and engaging commercial (retail, recreational, entertainment, dining, etc.) uses on the first floor. Upper floors may be commercial, office, entertainment/recreational, hotel, residential or a combination of uses. If commercial uses are proposed, the City encourages consideration of uses which support the small business culture of Downtown Iowa City as well as office, dining, entertainment, or other uses that provide clear benefit to the larger downtown economy and which are not alcohol -centric. Please note that a recent City Space Needs Study has recommended the City may need up to 25,OOOsf of office space to meet projected needs in the coming years. Submittal requirements will ask teams to comment on the viability of the City owning or leasing upper floor office space, given other proposed uses in the building. Inclusion of City office space at this site has not yet been identified by City Council and is not to be considered a preference or requirement by project teams. o A mix of market and affordable rate residential is strongly encouraged for a portion of the building. Luxury housing focusing solely on the student - aged demographic will not be considered. For any residential units that are proposed, affordable housing is encouraged for at least a portion of the project. A mix of unit types which diversifies the everyday users of downtown is also encouraged. To be eligible for TIF incentives, a minimum of 15% of units must serve rental tenants at or below 60% AMI (or below 110% AMI for units for sale) for at least 20 years, but with longer -term and permanent affordability preferred. Please see the TIF Policy (Exhibit B) for more details about affordable housing requirements. o High quality construction standards which exceed minimum building code requirements are highly desired. Type I building construction is favored. Wood frame or Type V building construction will not be considered. A construction approach which also demonstrates leadership in climate action is strongly preferred and required for projects seeking TIF incentives (see Exhibit B TIF Policy for more details). o High quality, contextual architecture recognizing adjacent properties and the broader Iowa City Downtown Historic District is desired along with a design that is welcoming and engaging at the pedestrian -level and to downtown users in general. Parking In the CB-10 Zone, no parking is required for non-residential uses. For residential dwellings, off-street parking is required as follows: • Efficiency and one -bedroom units • 2 bedroom units: • 3 bedroom units: • Units with more than 3 bedrooms • Elder apartments: 0.5 spaces per unit 1 space per unit 2.5 spaces per unit 3 spaces per dwelling unit 1 space for every 2 dwelling units Affordable Housing dwelling units provided as described under City Code Section 144F are not required to provide on -site parking. Per 14-5A-4F.6, qualifying development may request that the number of required on -site parking spaces be reduced by paying a fee in lieu. Requests above a 50% reduction require review and approval by the Board of Adjustment. Additional information regarding parking requirements that may benefit proposers can be found in Section 14-5A of the Iowa City Zoning Code. If off -site parking is desired in a City parking facility, then an estimated number of spaces desired should be provided in the RFP response. Zoning The property is currently zoned CB-10 (Central Business Zone). The CB-10 zone is a high -density downtown zoning classification intended to promote a compact and pedestrian -oriented development pattern that accommodates a wide range of commercial, service, office, and residential uses. More detail on the CB-10 zone can be found in Iowa City Zoning Code Section 14-2C, Commercial Zones. A link to the Zoning 9 Code is available at https://codelibrary.amlegal.com/codes/iowacitvia/latest/iowacity ia/0-0-0-19281. CB-10 zoning has the following general mass and scale parameters: �►�i �Iifta:��iy • Maximum front setback: 12' • Maximum Heights: None* • Maximum FAR: 10** *Development will be subject to Airport Zoning regulations and require a determination from the FAA. **For lots with an approved Floor Area Ratio (FAR) bonus, the FAR may be increased to 12 by providing an off-street loading area. The FAR may be increased up to 15 by providing dedicated Class A Office Space. Consult Iowa City Zoning Code Section 14-2C, Commercial Zones, for more details. Phase I and Phase II Environmental Site Assessment and Other Studies In 2021, a Phase I and Phase II Environmental Site Assessment was completed for the Project site, prior to demolition of the surface parking lot and 2,128 sf single -story commercial building formerly occupying the site. The Phase I Assessment included a records search, identification of past uses of the property, and noninvasive reconnaissance. The Phase II Assessment included soil and groundwater samples and testing. The assessment did not identify any contaminants which exceed applicable statewide standards' and no further investigation was recommended. The transmittal letter of the Phase II site assessment is attached to the RFP as Exhibit C. The full Phase II document is available upon request. Additionally, a Federal Aviation Administration aeronautical study and Geotechnical Engineering Report were also completed by a previous property owner and both documents are also available upon request. Utility Relocation Two transformers owned by MidAmerican Energy are located on a portion of the Project site, at the northwest corner. MidAmerican Energy has previously indicated a willingness to negotiate relocation of this infrastructure. Proposers should be aware of ' The Iowa DNR reduced the arsenic SWS from 17 mg/kg to 1.9 mg/kg in June 2019. Background arsenic concentrations for arsenic reportedly range from 10 to 13 mg/kg in soils in the area of the site. The arsenic concentrations detected in soil samples were above statewide levels, but are below expected background concentrations and no additional investigation is recommended. More details are available in the Phase II Limited Site Investigation Report, dated June 28, 2021. 10 this infrastructure and be prepared to engage in timely coordination with the City and MidAmerican Energy on potential impacts, costs, and relocation or replacement desires. Alley and Street Access Adjacent to Project Site The proposed building design should support the safe and efficient functioning of the adjacent alley and S. Linn and Washington Streets, based upon proposed building uses and access points. There is a public alley located along the north side of the project site which provides both primary and secondary access for nearby businesses. It is a highly utilized alley by service trucks, passenger vehicles, and pedestrians during all hours of the day. Project proposals should ensure the building design contributes to the safe functioning of the alley for all types of users and guarantees that access for businesses and critical services remains. Additionally, the alley features an overhead lighting installation. The selected project team should be prepared to work with the City and Downtown District to coordinate any temporary removal and/or reconfiguration or replacement that may be necessary to retain this public art feature. Construction & Trades Labor Economic justice standards for fair wage, labor, and safety practices are outlined in the City's TIF Policy (Exhibit B). Additionally, contractors and subcontractors will be encouraged to employ Qualified Apprentices that participate in a U.S. DOL Registered Apprenticeship Program. 11 Section 4: Potential Sources of Public Financial Assistance and the Development Agreement The City currently owns the Project Site and intends to enter into a property transaction and Development Agreement with a development team who will commit to constructing a mixed -use building accomplishing several City goals. The City is seeking development proposals for the Project that maximize private debt and equity financing, and leverage other non -City sources to the greatest degree possible. Incentives and/or financial participation potentially available from the City are not intended to replace financing from other private and public sources. Rather, they are intended to be flexible resources that may be able to assist in bridging funding gaps that may be created or compounded by current market conditions, the nature of infill projects as opposed to greenfield sites, and efforts to go above and beyond meeting public interest goals. If financial assistance is requested, the City will work with the selected developer to analyze specific details about the proposed Project financial pro forma and other factors. Potential financial assistance will be based on the project meeting the City's goals for the property, and the nature and extent of the financing gap identified between the project costs and the available debt and equity to cover those costs. Market -average interest and rates of return on debt and equity investments will be used to evaluate gap financing requests. Project Proposals should include a reasonable estimate of the need for financial assistance, based on a preliminary pro forma. A link to the Iowa City's TIF Policy attached as Exhibit C. The policy and complementary gap analysis resources are available online at: https://www.icqov.org/business/resources-and-documents. Potential State and Federal Financial Assistance The City encourages proposers to identify and explore potential for state and federal development finance programs to reduce or eliminate the need for City gap financing assistance. Potential programs include but are not limited to: • State of Iowa Jobs Incentive Programs • State of Iowa Development Incentive Programs • New Markets Tax Credit (NMTC) Program • Federal Solar Tax Credits • Federal Energy Efficient Commercial Buildings Tax Deduction 12 Potential Sources of Citv Assistance The City may contemplate providing the following financial assistance for an identified gap in project financing: • Tax Incrementing Financing (TIF): The Project Site is located within the City - University Urban Renewal Area, thus may be eligible for TIF assistance. TIF incentives may be proposed to be used for gap financing related to site development costs or post -development property tax burdens. Any negotiated TIF incentives will ultimately remain subject to required legislative processes (published notice and public hearing) as well as City Council approval of a Development Agreement which contains the specific terms of incentives. TIF assistance in the form of rebates will be used as gap financing as determined through a gap analysis. The City would likely enlist third party support to review project financials and evaluate the need for TIF. The Iowa City TIF Policy and complementary financial and gap analysis resources are available at: https://www.icqov.org/business/resources-and-documents. • Sale of Project Site: The sale of the Project Site from the City to the developer may be negotiated on terms responsive to the Project's gap financing needs (and in accordance with state and local law). • LMI Housing and Employment Assistance: Local or federal pass -through funding may be a potential source of financial assistance for projects which include permanent affordable housing. Development Agreement The City will ultimately enter into a Development Agreement with the selected development team. The Development Agreement will include specific terms for the conveyance of the property; security requirements to ensure Project completion; financial terms associated with property conveyance and Project construction; and any additional terms as may be necessary to ensure compliance with the Project goals stated herein. 13 Section 5: Submittal Requirements Proposals must be submitted electronically via IonWave as directed on the City's website at https://www.icgov.org/government/departments-and-divisions/public- works/engineering/construction-project-bids. Submittals must be complete and uploaded in their entirety before 1:00 p.m. (CST) on Friday, November 1, 2024. Submittals should include one (1) electronic (PDF) copy of the submittal. Hard copies or faxed submittals will not be accepted. Late submittals will not be evaluated so applicants are encouraged to allow sufficient time for upload into Ion Wave to avoid encountering last-minute delays or technical difficulties. At its sole discretion, the City retains the right to reject any or all submittals, to ask for clarification, to enter into negotiations to discuss cost, scope of work, procedures, and final work product. Acceptance of a proposal does not constitute approval for construction purposes; other normal administrative and legislation procedures and actions may be required including but not limited to property sale and approval of financing, site plan, development agreement, and building permits. Questions about using Ion Wave may be directed to Megan Vollenweider at McVollenweider(a)-lowa-City.org or 319-356-5078. Inquiries to clarify the requirements of the RFP must be made no later than Wednesday, October 23, 2024. All inquiries should be directed via e-mail to: Rachel Kilburg Varley, Economic Development Coordinator, City of Iowa City, Iowa 410 East Washington Street, Iowa City, Iowa 52240 319-356-5248 rkilburg _iowa-city.org All inquiries and staff responses will be posted for public viewing on the project posting in lonwave(https://icgov.ionwave.net/Login.aspx) within three (3) business days of the response. Requests for meetings with project teams or other interested parties will not be accepted. All proposals must comply with the following requirements and must be numbered accordingly: 1. Signed letter on the proposer's letterhead indicating an interest in the project. 2. Primary contact person and contact information. 3. Legal name and address of the development entity, including all joint ventures, limited partnerships and limited liability companies, and the percentage of interest of each. Proposers are encouraged to include size of their firm, parent company if applicable, and officers/principals of the firm. 14 4. Identification of the legal entity with whom the City would contract, whether the entity exists currently or would be created for the purpose of this project, and the names and titles of all parties authorized to act on behalf of proposer. 5. An organizational chart showing all members of the proposed development team including but not limited to developer, management agency, legal, design professionals, and consultants. Contact information should be provided for each team member. 6. Description of proposer's previous experience, including a brief description of relevant mixed -use projects where the proposer played a substantial role. The descriptions should include the specific role of the proposer and the current status of the projects. Sufficient reference contact information should be provided for each project in order to permit the City to verify the information. 7. A description of the proposer's financial capacity to obtain acquisition, construction, and permanent financing, including letters of interest from lenders and/or tax credit allocates. A discussion of the financing sources and partnerships utilized for prior projects and references from these parties are also welcome and encouraged. 8. A narrative description of the proposed Project, including how it meets the goals outlined in "Section 3: Project Description" of this RFP and a description of how the project and design is contextual within the historic downtown district. 9. State the viability of the City owning or leasing upper floor office space, given other proposed uses in the building. Inclusion of City office space at this site has not yet been determined by City Council and is not to be considered a preference or requirement by project teams. 10. A visual description of the proposed Project, including: a. Conceptual renderings or schematics, including one or more which show the proposed building in relationship to adjacent properties; b. Conceptual square footage of commercial space; c. Conceptual square footage and size/type of residential units; d. Schematic layout of commercial and residential floors and parking; e. Schematic or rendering of the pedestrian -level facade. 11. Narrative description of the proposer's plan for construction and financing of the Project. This should include: a. Organization and management approach to the Project; b. General schedule for completion of the Project following property acquisition; 15 c. Description of a general financing plan and a preliminary pro forma including anticipated and/or potential financing sources; d. Copies of any letters of intent from prospective purchasers and/or tenants; e. Description of the marketing approach to secure purchasers or tenants; f. The proposed purchase price and the explanation of the purchase price for the Project property; g. The proposed amount and description of gap financing assistance for the Project. 12. A statement relative to whether any of the principals, development entities, or members of the development team have ever been indicted for or convicted of a felony, and a description of any and all litigation involving the principals, development entities, or members of the development team during the past five years (Complete Exhibit D). 13. References from financial institutions, city governments, and community organizations that will permit the City to verify the capabilities of the proposer. 14. Identify any unique resources, capabilities, or assets which the proposer would bring to the Project. 15. Proposal submittal signature form (copy attached as Exhibit E). 16 Section 6: Reservation and Disclosures Reservation Issuance of this RFP does not commit the City of Iowa City to enter into a Development Agreement, pay any costs incurred in preparation of a response to this request, or to procure or contract any services or supplies. The City reserves the right to reject any and all proposals and to make recommendations for changes in any proposal submitted, to waive informalities or irregularities, and may, in the process of this recommendation, allow the developer to make such recommended changes in its proposal. The City reserves the right to require additional information from the developer, financial or otherwise, and to hold meetings with any developer to review the offer and development proposal, and to waive any of the requirements set forth herein. The City may, at the conclusion of its review, recommend that the City Council, in conjunction with appropriate legislative process, enter into a Development Agreement with the selected developer. As an equal opportunity/affirmative action employer, the City prohibits discrimination on the basis of race, creed, color, sex, age, religion, sexual orientation, gender identification, marital status, disability, or national origin. Minority and women's business enterprises will be afforded full consideration and are encouraged to respond. Disclosure of Proposal Content After the deadline for submissions of proposals, the contents of the proposals will be placed in the public domain and open for inspection by the public. Trade secrets or proprietary information that are recognized as such and are protected by law may be withheld if clearly identified as such in the proposal. Disposition of Proposals All proposals become the property of the City and will not be returned to the proposer. Independent Contractor The selected developer will act as a separate legal entity and will not be in joint venture, employment or be otherwise affiliated with the City. The developer is responsible for all insurance, salaries, contracts, withholding taxes, social security, unemployment, worker's compensation and other taxes and other liabilities it incurs in connection with the Project, and shall hold the City harmless from any and all claims for the same. The submission of a letter of interest and statement of qualifications will not require a fee or deposit. The City shall have the right to verify the accuracy of all information submitted and to make such investigation as it deems necessary or appropriate to determine the ability of a prospective developer to carry out the Project. The City reserves the right to reject any response where the evidence or information does not 17 satisfy the City that the prospective developer is qualified to carry out the Project, is a person or firm of good reputation or character, or if the developer refuses to cooperate with and assist the City in the making of such investigation. 18 Section 7: Evaluation Criteria Proposals must be fully responsive to the requirements described in Section 5, and to any subsequent requests for clarification or additional information made by the City. Proposals must comply with and are subject to all provisions of applicable federal, state, and local laws on urban renewal development, zoning, and building regulations. Proposals failing to comply with the submission requirements or those unresponsive to any part of this solicitation may be disqualified at the City's sole discretion. The City may, at its sole discretion, elect to waive requirements either for all proposals or for a specific proposal. Evaluation Process A City staff review committee will evaluate proposals individually and in the context of all other proposals and recommend semi-finalist proposal(s) to the City Council. The City Council will ultimately determine finalist proposal(s) selections and may invite finalist(s) to present and answer questions at a public meeting of the City Council. At the City's discretion, requests for timely response of clarification, additional information, or modifications to proposals may be made to a proposer at any point in the selection process. Additionally, the City reserves the right to accept and/or reject proposals without seeking presentations at a public meeting. The City will inform proposers of the status or acceptance and/or rejection of proposals upon conclusion of each stage of the evaluation process. Evaluation Criteria The criteria against which each proposal will be considered may include the following (in no particular order), as well as other factors considered by the City as appropriate: 1. Compliance with Section 5: Submittal Requirements 2. Alignment with goals, objectives, and regulations contained in Section 3: Project Description 3. Developer experience and capabilities 4. Alignment with the City Council's Strategic Plan values and priorities 5. Market and economic viability of the proposal 6. Long-term fiscal benefit to the City 7. Compliance with all applicable federal, state and local laws, rules, regulations, and policies 19 Section 8: Non -assignment of interest No developer shall assign or transfer to any other person or corporation, any interest in its proposal prior to execution of a Development Agreement without the express written authorization of the City. After execution of a Development Agreement and until the proposed development has been completed, no interest in the contract may be assigned or transferred without the written consent of the City, except as set forth in the Development Agreement. 20 EXHIBIT A 2021 ALTA Land Survey document begins on next page ] 21 ALTA/NSPS LAND TITLE SURVEY ROODZONECASSIFICATON /2 2 LEGAL DESCRIPTION BLOCK 66 OF ORIGINAL TOWN PLAT Oa CITY OF IOWA CITY, JOHNSON COUNTY, IOWA ze Parcel l: pwmspun � 1�. I � , N.0 60d g9e I 198 Np.DPMd IIlC In - Parcel z: •�,^ e e g e ` �I e �' me6m xs feetaaa.lgM a°a °°e-nau l°m.awtmtmel°rg s6, LOCATION MAP -NOT TO SCALE ovgqi+rv+spw,iT,sP n'o_6 il� I• I Iowa1]tV, loM1nson Counry.lowa evicept tM1e South 3B.a2feetM oxxseaui i l pup ��a our 1z Rc 6]I •-B uspn Me Wez[2.8]MereW. _ ,n I- TE IIIII lapwu}'PquT N! 91 N B9' _ Parcel 3. The East 0.6]Icet°fthex-592fretd-S°utM1E0.4z 1 °f Me West 2.eTfeet° 1r1Eas126feetand11ZMnd°nelwlf 1101, It h. BI°ck66,—cN.lon°s°c f°unN. 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Rights...r...d runrec.,d.h,rees. rvma aanown. — SURVEYOR'S CERTIFICATE — — — son 'w "~� , °wxva.°.nxoaanitu Tw I I in lil first Amencan uran.e omPan4.lal l[) 6 limited liability company °5 `,,, x]Sunn Iowa Property, uc,alxleware ad�i� Z 999 es(m a� RwBP w s a; B"T I, M�- 6; 6a s (' a=a g iM1ls is to..rtiN roar Mis map orplat antlMezurvey on sMiA It lz bautl were matle in +.,�£ rALT witn tne2021 Minimum Standard°etail8equiTe°l sgmOr.ey,�ana ow"w"a lnmdes],z, 3, a, s, s(allbl, ofTableAMereof. Thefield work was com 1a, ]la1ro111q, s,914, ]], ]a, 20 u,T%13 letetl on Ma 6, 202mO 01 EXHIBIT B Iowa City Tax Increment Financing (TIF) Policy document begins on next page ] 22 Tax Increment Financing Policy I August 20, 2024 � r CITY OF IOWA CITY UNESCO CITY OF LITERATURE Tax Increment Financing (TIF) Policy Tax Increment Financing (TIF) is a tool to provide financial assistance for projects within a designated urban renewal area and TIF District. Iowa City's use of TIF is intended to remove slum and blight and/or advance economic development by encouraging residential, commercial, or industrial development in line with this policy document. Alignment with the City's Strategic Plan will provide the first indicator about whether a project may be eligible for TIF. To the extent that a project helps achieve the City's Strategic Plan objectives and is located within an established Urban Renewal Area (Exhibits A, B), it may be eligible to be considered for TIF. The City of Iowa City's current Strategic Plan priorities are attached as Exhibit C. The full plan can be found online at www.icgov.org/strategicplan. TIF support for projects located in the Downtown or Riverfront Crossings must also demonstrate alignment with the Downtown and Riverfront Crossings Master Plan. Recognizing that some minimal or non -tax -generating activity and/or investment in public infrastructure may influence additional private economic development activity, TIF may be an appropriate tool to further investment in Iowa City's public infrastructure, arts and cultural, recreational, historic, and/or natural assets. The City may utilize TIF to improve or develop new public infrastructure and/or other amenities and uses that further goals and objectives in other adopted planning documents, including but not limited to, the Comprehensive Plan, Urban Renewal Area plans, Climate Action plans, Affordable Housing plans, and public facility and recreation plans. Understanding that TIF is made possible by the increased value in real property, and that many of these economic activity generators are tax exempt, a TIF project that advances these public interests would only be possible by using existing, district -wide increment. Additionally, catalyst projects that encourage additional unsubsidized private development in an Urban Renewal Area, either directly or indirectly, may be given special consideration for TIF incentives. TIF projects require an investment of considerable time and resources for both the City and applicants seeking TIF assistance. As such, this policy establishes guiding principles and details key public benefit priorities the City will seek to advance through TIF assistance. Each project will be assessed by the totality of public benefit in addition to the financial analysis. Specific requirements or community benefits of any project or program benefitting from TIF support will be individually evaluated and determined and may include a combination of policy priorities outlined in this document and/or other public benefits not identified in this document, but which align with the City's Strategic Plan and other adopted plans. All projects receiving TIF support shall ultimately be subject to approval by City Council. Climate Action and Resilience The City of Iowa City has established goals and a Climate Action Plan to reduce community -wide carbon emissions by 45% from 2010 levels by 2030 and achieve net -zero carbon emissions by 2050. Tax Increment Financing Policy I August 20, 2024 In order to aid the City in meeting climate action and resilience goals, projects should clearly demonstrate leadership in sustainable development. Examples of leadership in sustainable development for new construction projects may include: • Green Building Certification: Achieving LEED Silver or higher certification for new construction or major rehabilitation of commercial, mixed -use, or residential construction. • Alternative Green Building Certification: Other sustainable building ratings systems or standards that exceed the current energy code by a minimum of 25%. • Energy Performance: Exceed adopted energy code performance by 25%. • Electrification: Full building electrification supported by on -site renewable energy sufficient to offset 10% or more of total projected annual energy use. • Embodied Carbon Reduction: Whole Building Life Cycle Assessment (WBLCA) that produces a 15% reduction in Global Warming Potential (GWP). TIF may also be used to help finance climate action, resilience, and carbon reduction projects in existing buildings. Such uses shall advance the City's emission -reduction goals and be subject to specific impact and reporting requirements as determined appropriate by the City. Projects and programs which go above and beyond or stack sustainability benefits are encouraged. Beneficiaries receiving TIF assistance that support climate action and resilience efforts should view the investment as a long-term commitment to sustainability. As such, the City will seek to verify the validity and impact of agreed upon strategies at multiple points over the lifetime of the TIF including, at a minimum, approval of the Development Agreement and the annual certification process. Acceptable methods of verification or reporting shall be subject to City approval, but may include third -party verification through a green building certification program, Energy Service Company (ESCO), or licensed green building professional and/or enrollment in the Energy Star Portfolio Manager in collaboration with the City. The City will work in partnership with the project developer to ensure each project has a tailored strategy that demonstrates leadership in climate action and resilience. Historic Preservation TIF-supported projects located in historic districts should increase the diversity and vibrancy of the district, while also preserving and enhancing the historic character. Building design should be contextual to the area and complement the historic character of the district. This may be achieved through design considerations such as size, form, materials, and engaging pedestrian -level streetscape. Historic preservation projects may be eligible for TIF funding from district -wide increment to incentivize historic renovation projects that may not add enough taxable value to rely solely on the subject property's increment. Affordable housing TIF projects in any urban renewal area with a residential component as part of the project must provide a minimum of 15% of the rental units as affordable to tenants at or below 60% AMI (area median income) for a minimum 20-year compliance period, with a strong preference for permanent affordability or longer -term commitments. If those housing units are for sale, 15% of the units must be targeted to households at or below 110% AMI. Current AMI limits are available on the City's Tax Increment Financing Policy I August 20, 2024 website: https://www.icgov.org/government/departments-and-divisions/neighborhood-and- development-services/neighborhood-services/community-development/resources-for- organizations-receiving-city-funds. Developers may be eligible to negotiate a fee -in -lieu of providing on site affordable housing, or to provide affordable housing elsewhere in the community, subject to the City's sole discretion. In exchange for the increased density allowed in the Riverfront Crossings (RFC) zone, any project with housing in the district, regardless of whether it is a TIF project, must include 10% affordable housing. TIF policy in the RFC zone is that any financial gap due to affordable housing created by zoning requirements (10%) is the responsibility of the developer and that affordable housing above the required 10% in RFC could be TIF eligible if the financial analysis determines a gap. Economic Justice The City will not contract with or provide any economic development incentives to any person or entity who has participated in wage theft by violation of the Iowa Wage Payment Collection law, the Iowa Minimum Wage Act, the Federal Fair Labor Standards Act (FLSA) or any comparable state statute or local ordinance, which governs the payment of wages, workplace safety, child labor, or other labor laws. Misclassification of employees as independent contractors is a violation of the FLSA and is included in the definition of wage theft. Development Agreements for TIF projects shall include in the contract for the construction of the Minimum Improvements, between the Developer and the General Contractor, written provisions requiring compliance with all state, federal, and local laws and regulations governing wages, child labor, workplace safety, and other labor laws, proof of which must be provided to City prior to the start of construction. Additionally, the General Contractor of a TIF-supported project will be required to provide the Developer and City, no later than the filing of an application for a building permit, a list of the names and addresses of each subcontractor and the dollar value of the work the subcontractor is expected to perform. Quality Jobs When a TIF project is based on the creation or retention of jobs, certain wage thresholds must be met to help ensure the City's financial participation only serves to increase the average area wage. This policy does not require that every job associated with a TIF project, such as those that might be created by the addition of a new retailer in a building, or the construction jobs required to build a TIF project, meet these standards. Rather, as a policy to incentivize the addition or retention of high paying jobs to the local economy, a jobs -based TIF incentive would be structured using the thresholds of the State of Iowa High Quality Jobs Program. Underwriting and Application The following criteria are designed to provide a consistent and transparent process for the review and analysis of all applications for TIF assistance. a) Application: Developer must submit a complete application. b) "But For" Test: TIF support tied directly to private projects must meet a "but for" standard. That is, each project must sufficiently demonstrate need for the City's financial assistance, such that without it, the project would not occur. TIF assistance in the form or rebates will be used as gap financing as determined through a gap analysis. The City may enlist third party support to review private project financials and evaluate the need for TIF. Use of a third party is not anticipated Tax Increment Financing Policy I August 20, 2024 when TIF is being utilized to rebate costs of public infrastructure, state and federally -supported affordable housing projects, and projects that support non -property tax generating economic activity. c) Structure of TIF financing: The City reserves the right to determine the method of TIF financing that is in the best interests of the City. This includes variables such as the percentage of increment utilized, maximum rebate amount, and maximum term. d) Developer equity: For private development projects, developer equity must be equal to or greater than City funding. TIF assistance shall not exceed the amount of equity provided by the Developer. Equity is defined as cash, unleveraged value in land, or prepaid costs attributable to the project. e) Project based TIF: TIF for private developments must generate TIF increment sufficient to be self- supporting. Only in exceptional cases will the City consider using district -wide increment. Tax Increment Financing Policy I August 20, 2024 Exhibit A Urban Renewal Areas Enabling Tax Increment Financing Y-- 4 II 1 I cb - � q} a 4b � 90 Q5 ro 73 r-I [V fry Ln Tax Increment Financing Policy I August 20, 2024 Exhibit B City -University Project 1 Urban Renewal Area City -University Project 1 Urban Renewal Area �EYTON As Amended �I W 1 AVE WA AVE WASHINGTON 5 ,ST:. z w y W 0 GRANOAVE � W' MELROSE AVE E COURT ST C n R A O yO� P m W n a O p W ERY ST X Y MYRTLEAVE 1� i.H r PAGE ST m d I� m WALNUT ST W BENTON ST I i c a o DOUGLASS ST O is TG A 2 ti AQ Q v' O C01411 cs onHa o F NIGNWAY 1 W _ _ p o O,UK CT HIGH _ u � a s u IGHLANP AVE �uRF< ST ERNEST5 p ti RUPPERT RD GHK,gYeF f i Urban renewal area boundaryOLYMPIC CT ® 1969 Original Area x SOUTHGA7E _ w q 2001 Amended Area h 2 AVE ® � T 2012AmendedAreaBS"N ,AVE AVE o 2016 Amended Area �P AST 4AVE Y ��FeN m SANDUSKY PR 0 250 500 1pOP � A Tax Increment Financing Policy I August 20, 2024 Exhibit C City of Iowa City FY2023-2028 Strategic Plan The full Strategic Plan document is available online at www.icgov.org/StrategicPlan. VALUES • Racial Equity, Social Justice & Human Rights: We prioritize diversity, equity, and inclusion, elimination of systemic barriers, and facilitating equal access for all. • Climate Action: We are leaders in reducing greenhouse gas emissions and adopt sustainable energy, transportation, land, and water practices. • Partnerships & Engagement: We are transparent and foster trust, involve the public in decision - making, and offer facilities and services that foster community connection. IMPACT AREAS & STRATEGIES Neighborhoods & Housing • Update City Comprehensive Plan and Zoning Code to encourage compact neighborhoods with diverse housing types and land uses. • Partner in projects that serve as models for desired future development. • Create inviting and active outdoor spaces with unique and engaging recreation offerings. • Address the unique needs of vulnerable populations and low to moderate -income neighborhoods. Mobility • Expand the access and convenience of environmentally friendly and regionally connected public transit. • Design and maintain complete streets that are comfortable and safe for all users. • Grow and prioritize bike and pedestrian accommodations. Economy • Reinforce Iowa City as a premier community to locate and grow a business. • Ensure appropriate infrastructure is in place for future business growth and development. • Cultivate a strong entrepreneurial and small businesses ecosystem with a focus on creating new pathways to success for marginalized populations. • Build Iowa City's image as the Greatest Small City for the Arts. • Strengthen the Iowa River's role as a signature community amenity and tourism generator. Safety & Well -Being • Implement and expand innovative public safety models and facilities to improve outcomes and relationships within the community. • Partner with non -profits to address the most emergent and foundational community safety and well-being needs. • Build community by fostering social connections and developing safe, accessible public spaces for gathering. EXHIBIT C Phase II Environmental Assessment: Engineer's Transmittal Letter (full Phase 1/III Environmental Assessment Reports available upon request) document begins on next page ] 23 June 28, 2021 CASL Holdings, LLC 130 East Randolph Street, Suite 2100 Chicago, Illinois 60601 Attn: Mr. Jose De La Maza P: (872) 259-1719 E: idelamaza(a)CA-Ventures.com RE: Limited Site Investigation (LSI) 21 Linn Street Iowa City, Johnson County, Iowa Terracon Project No. 06217061 Dear Mr. De la Maza: Irerracon Terracon Consultants, Inc. (Terracon) is pleased to submit this Limited Site Investigation (LSI) report for the above referenced site to CASL Holdings, LLC (CASE). Our services were performed in general accordance with Terracon Proposal No. P06217074 dated May 12, 2021. Based on our investigation, the laboratory analysis of soil samples identified chemical concentrations of arsenic, barium, chromium and lead above the laboratory reporting limits in borings B-2, B-3 and B-4, but below the applicable statewide standards, with the exception of arsenic over the statewide standard for soil in all three borings. The laboratory analysis of groundwater samples identified concentrations of barium in temporary monitoring wells (TMW)-2 and TWM-4, as well as barium, lead and selenium in in TMW-3 above the laboratories reporting limit, but below the applicable statewide standards. Based on results of the field exploration, no additional investigation is recommended at this time. We appreciate the opportunity to perform these services for you. Please contact us if you have questions regarding this information or if we can provide any other services. Sincerely, Terracon Consultants, Inc. %e"'/ /1' r Jordan M. Smith Dennis R. Sensenbrenner, CGP, PG Staff Scientist Senior Associate Terracon Consultants Inc. 264012th St SW Cedar Rapids, IA 52404-3440 P 319-366-8321 F 319-366-0032 terracon.com EXHIBIT D LISTING OF LAWSUITS OR LITIGATION WITHIN THE PAST FIVE YEARS Lawsuit or Litigation Status or Outcome Comments 24 EXHIBIT E Proposal submittal signature form The undersigned attests to his/her authority to submit this proposal and to bind the firm herein named to perform if the firm is selected by the City of Iowa City. The undersigned further certifies that he/she has read the Request for Proposal, terms and conditions, and any other documentation relating to this request; has complied in all respects with all conditions hereof, and this proposal is submitted with full knowledge and understanding of the requirements and time constraints noted herein. The undersigned hereby further acknowledges that it accepts the terms of the Request for Proposals in its entirety and by the submission of its proposal hereby waives any claims or claims to irregularities that arise out of such RFP, the process employed by the City to solicit and develop proposals, the RFP evaluation process described in the RFP, and agrees to release and hold harmless the City, its employees, agents, and consultants from any claim, loss, or damage arising therefrom. The undersigned hereby authorizes any person, firm or corporation to furnish any credit history and financial condition or other information required by the City to verify information related to the Firm's submission to the City. hereby certify, on behalf of the undersigned firm, that the above information is true and correct to the best of my knowledge and that the City may rely on the information provided. Firm name: Home office address. City, state, zip: Signature: Date: 25 Letter of Interest November 1, 2024 On behalf of Venture One, LLC and our collective team at Grand Rail, Urban Acres, OPN Architects, and Axiom, we are thrilled for the opportunity to 21 Linn South St Property submit our proposal for the development of 21 S. Linn Street in downtown Iowa City. In this document, you will find responses to all of the questions and topics raised in your Request for Proposals. Beyond the facts - with our Rachel Killburg Varley team's proven past partnerships; self -performing development, construction, City of Iowa City and marketing approach; and past, present, and future connections and investments in the Iowa City area, we believe our passion and enthusiasm 410 East Washington Street for this project will ensure that the City of Iowa City and overall community's Iowa City, Iowa 52240 goals for this project are realized. Our team collectively and individually is 100% Iowa City. By that I mean, we Jake Evans were born here and have made our lives and livelihoods here. We work Owner & here, raise our families here, and serve our communities through various Chief Financial Officer organizations such as the Iowa City Public Art Advisory Committee, Iowa City Grand Rail Development Downtown District, The Englert Theatre board, and United Way of United jakeoa grandrail.com Way of Johnson & Washington Counties to name just a few. We are deeply committed to helping our community grow and prosper. Venture One, LLC 2810 Stoner Ct Ste.S Professionally, for Grand Rail and Urban Acres as Venture One, this has meant North Liberty, IA 52317 developing mixed -use, affordable, and amenity -rich properties throughout (31g)626-6300 the southern Corridor. For OPN and Axiom, it has meant partnering with our team as well as other public and private clients such as The Englert, Johnson County, City of Iowa City, Downtown District, and others to design buildings that strengthen our communities through resilient and beautiful design. As a team, we believe in projects like this one that not only have the potential to bring people together to dine, shop, live and work, but also will literally fill a void in a vibrant downtown that that city has already invested so much in curating and caretaking. Because we are Iowa Citians, we know that downtown Iowa City's vibrancy doesn't happen by accident. It is the result of a collective investment of individuals who own businesses, elected officials, staff, and volunteers who work at cultivating this place we all love. We would be honored to be part of this important project which would further our collective goals to create a functional, enduring addition to the downtown core, aligning with the city's vision for a vibrant, community -focused environment. Thank you for the opportunity, and we look forward to working with everyone at the city and all who have and will be involved in this important endeavor. Jake Evans Owner & Chief Financial Officer Contents Organization Overview Organizational Chart Project Examples Financial Capacity Project Narrative City Occupied Space Narrative Project Design Construction and Financing Narrative Legal History References Narrative of Differentiators eTre GRAND RAIL CITY OF IOWA CITY 5 Organization Overview Venture One is a joint venture between Mike, Jake & Jesse Evans of Grand Rail Development and Mike Bails of Urban Acres Real Estate. Grand Rail is a full service commercial and residential general contractor With over 40+ year of experience' building in the greater IA City arfhey annually construct and develop projects between $Zoo - $200 million in gross construction costs. The types of the projects they Work on include, commercial light industrial, residential single family, town -homes up to and including larger mid -rise multifamily and mixed used residential builds. Mike Bails is a Partner / Owner of the Iowa City -based Urban Acres Real Estate Which has 50+ full-time agents Which has accounted for over $3.3 Billion in local sales since their first fullyear of operation in 2016. Individually as the Lead Member of the The Bails Team, Mike and his team have accounted for $618 million of those sales in that same time period. a. Legal Name & Address Venture One, LLC (Real Estate Investment & Holding Company) 2810 Stoner Ct, Suite 5 North Liberty, IA 52317 b. Size of Firm & Key Principals of the Firm Owners are Mike Evans, Jake Evans, Jesse Evans, Mike Bails c. Contractual LegaL Entity Venture One, LLC is a real estate investment company which is the combination of Mike, Jake & Jesse Evans of Grand Rail Development (2810 Stoner Ct Suite t, North Liberty, IA 52317) North Liberty and Mike Bails of Urban Acres Real Estate (250 Holiday Rd, Coralville, IA 52241) d. Description of Intent It is our intent to organize and form a separate ownership entity for this project. For instance, the Venture One group formed The Point Building, LLC as the holding company for The Elevate Condos located in Coralville on Russell Slade Blvd. As The Point Building, we have built two buildings which house 105 condominium units and will be expanded from 115 total units to 180 once the third building is completed. The intent is to form a similar and separate LLC for the holding of the 21 North Linn St project prior to construction starting. GRAND RAIL CITY OF IOWA CITY 7 Organizational Chart City of Iowa City Venture One LLC Grand Rail Development ' Jake Evans Senior Project Manger & 4 Chief Financial Officer Owner Venture One Partner t Kenzie Evans ►- a Customer Relations Coordinator & Project Liaison Caleb Walton �F le2. Project Manger OPN Architects Urban Acres Real Estate Mike Bails, REALTORO Municipal Liaison Venture One Partner _rgfilu. The Bails Team URBAN ACRES @Th,BailsTeam Axiom Consultants Rob Decker, MSE, CDT, CPG Justin Bishop, AIA Engineering Project Manager Principal -in -Charge James Kincade, PE Civil Lead Sophie Donta, AIA Architect Joe LoaL L PE Mechanicnical Lead Kevin McLaughlin, PE Zack Writer, AIA ,` Electrical Lead SAIR L Architect Justine L Le , PE Structuraal Lead GRAND RAIL CITY OF IOWA CITY 8 Grand Rail Development I General Contractor Grand Rail Development is a family -owned company, specializing in Location Land development and general contracting with 40+ years of experience 2810 Stoner Ct Ste-5 GRAND RAIL in the Corridor. Our mission has always been to deliver our projects on I 'INSTRUCTION R DEVELOPMENT North Liberty, IA52317 budget and on time, while maintaining the highest project standards for phone our customers Our team provides exceptional design aesthetics, timely work completion (319) 626-6300 and continually strives to meet the personal needs of clients with a hands-on approach. We also have industrial, single family, multi -family, mid -rise and commercial background. Website �uilde grandrail.com General Contracting: Grand Rail as the overall General Contractor shall coordinate every aspect of the 21 S. Linn St. project starting with land acquisition and design all the way to close out and occupancy of the building, which shallalso include building ownership and management. Design Consultation and Value Engineering: Grand Rail's team will lend expertise on design feasibility from a construction process and cost standpoint. While we will utilize outside Architect and Engineering Firms our team will guide the process and provide ideas and input throughout. Budgeting: Grand Rail will search out and find the most cost-effective materials and services using local contractors. Being familiar with the local suppliers and contractors will provide a variety of material options with competitive pricing. Procurement of municipal and other needed approvals: Our Team has extensive knowledge and experience with the local building and planning departments as well as the Planning and Zoning and City Council approval processes. Being local we have personal familiarity with local staff and have presented and gained approvals for a variety of projects. Our team will lead in meetings with city staff and proactively engage zoning, development and construction approvals that are needed. Development and Construction Financing: We have excellent standing with many local lenders and will utilize those contacts to finance the initial development and construction work. Working with established local lenders gives us the ability to manage the costs of construction financing and ensure project success. Site Development: Grand Rail offers all in house services for hauling & trucking, renovation & demolition, and excavation: In addition to the General Contracting duties for the site as a whole, Grand Railwillalso provide portions of the on -site labor and services during the development. Project/Construction Management: Grand Railwill be responsible for the preparation and implementation of development and construction schedules to ensure on time delivery for the client, providing on -site logistics, implementing and maintaining safety practices to OSHA standards, stormwater practices to mitigate environmental impact to prevailing standards, communication of all project updates via GRD's web portal Permanent Project Financing: Similar to the development and construction financing we will negotiate terms with a local lender to transition from the temporary financing to Long term financing for Venture One's ownership of the building. Property Management: All management (and any maintenance needed) will be done locally and coordinated in-house. Grand Railwill maintain a presence to ensure this property contribute to downtown for years to come. GRAND RAIL CITY OF IOWA CITY 9 Urban Acres I Real Estate Urban Acres owner Mike Bails is a life-long Iowa City area liftnt and Al' completed his studies in 2000 at the University of Iowa. He received a Location BBA in Marketing and BA in Communications Studies. While he was still 250 Holiday Road URBAaN ACRES y tag in college, he received his real estate license and has been working as Coralville, IA 52241 a full-time real estate agent for over 25 years. He is a long-time leader in sales in the Iowa City Market and along with his partners in, "The Bails Team" they have led the Corridor in new Phone and existing homes sales for the past eight years. Currently Mike is an owner of Urban Acres (319) 321-5500 Real Estate in Coralville, Iowa Which he founded in 2015. He is also a partner and investor in many large and successful real estate investments and developments in the Iowa City and Website Corridor areas. He is a long-time member of the Iowa City Area Association of Homebuilders urbanacres.com/thebailsteam (HBA) and served as the President of the HBA in 2019. Services: Property Research & Acquisition, Lease Negotiation, Client Liaison, Municipal Liaison & Presentations OPN Architects I Architect M© N OPN Architects is an with more than 100 designers working on projects across the Midwest. OPN has studios in Cedar Rapids, Location A R C H I T E C T s Des Moines, and Iowa City, Iowa; Madison, Wisconsin; and Minneapolis, 24112 S. Clinton St Ste.1 Minnesota. Our firm's award -winning work spans a wide variety of client types including Iowa City, IA 52240 corporate, civic, higher education, health care, and libraries. Phone Our success is the result of a deliberate, sustained commitment to an open culture that (319) 248-5667 nurtures excellence and new ideas. Responsiveness, responsibility, and commitment to open dialogue are our most important attributes, and we believe these commitments are Website the reason for our high percentage of repeat clients. We work to create trusting, mutually opnarchitects.com beneficial relationships on each project simply because we believe it's the right thing to do. Services: Architecture, Bond Issue Planning, Building Information Modeling, Cost Analysis, Existing Facility Evaluation, FastTrack Design, Interior Design, Landscape Architecture, LEED Planning & Implementation, Marketing & Promotional Materials, Master Planning, Renovation/Restoration, Site Evaluation, Sustainable Design, Axiom Consultants I MEPT Axiom Consultants is a full -service engineering firm with 25 staff X10M members and is based in Iowa City with a branch in Cedar Rapids. Location CONSULTANTS `R° -KEPT .g""`"E`-PANY They offer comprehensive planning, engineering, and construction 200 South Clinton Street services, alongside project management, owner's representation, and inspection. Axiom Unit 200 works fora wide variety of clients and can complete complex undertakings no matterthe size. Iowa City, IA 52240 Their unique skillset provides clients with incredible flexibility, adaptability, and technical expertise while their incredible culture creates an environment that clients seek out time Phone and again. Axiom is a different kind of engineering company that focuses on providing (319) 519-6220 consistently excellent work. Website Services: Civil & Survey, Structural, Mechanical, Electrical, Plumbing and Tech. axiom-con.com ■ :12 91019: GRAND RAIL CITY OF IOWA CITY 11 Project Examples RESIDENTIAL Elevate COraLville, Iowa Year 2019 Cost $47,000,000+/- Size 150,0oo GSF + parking/amenities Units 18o Parking 18o covered stalls + site parking l Project Highlights Elevate capitalizes on its Lakeside Location north of the busy intersection of First Avenue and Interstate 8o in CoraLviLLe. Contact Jake Evans CFO, Grand Rail Construction • Residential and Development . Innovative (319) 626-6300 Solutions • Amenities • MuLti-Discipline Coordination GRAND RAIL CITY OF IOWA CITY 1 12 Project Examples RESIDENTIAL Newton Road Townhouses Cedar Rapids, Iowa Year 2024 Cost $7.7 million Size North: 16,097 square feet South: 16,156 square feet Units 14 total units (7 each) Parking 28 stalls Contact Jake Evans CFO, Grand Rail Construction and Development (319) 626-6300 r- Project Highlights Modern townhouse condos With roof top views and connections to surrounding context. • InfiLL MULti-Family • Rooftop Decks Project . Optimized Design • FLoorpLans on FLoorpLans Maximized on Limited Land Area GRAND RAIL CITY OF IOWA CITY 1 13 Project Examples MIXED -USE fourth + court Des Moines, Iowa Year 2017 Cost $24,000,000 Size 110,500 square feet Units 81 Retail SF35,000 square feet Parking 204 stalls Contact Daniel Willrich Assistant Director Store Architecture dwillrichga hy-vee.com (515) 457-3807 lot Project Highlights Fourth + Court. a multi -story mixed use development anchored by a first -of -its - kind Hy-Vee grocery store, constructs a contemporary cornerstone in the heart of Des Moines historic Court Avenue District. • Mixed -Use • Amenities • Residential • Anchor tenant • Contextual • Design Design Guidelines • Innovative • Multi -Discipline Solutions Coordination �7 GRAND RAIL. CITY OF IOWA CITY Project Examples MIXED -USE The Landing & Landing II CoraLville, Iowa Year 2016 Cost $24,400,000 Size 55,000 square feet & 6o,000 square feet Units 74 Retail SF 15,770 square feet & 16,027 square feet Parking 133 indoor stalls + V- — - 7-3,44, Contact Kelly Hayworth City Administrator (319) 248-1700 khayworthga coralville.org Project Highlights Opened in 2016, The Landing Was the first mixed -use retail and townhouse development at Iowa River Landing. It was a catalyst to kick start development at IRL. • Mixed -Use • Development • Residential Strategies • Destination • Design Guidelines • Team Continuity . Multi -Discipline • Phased Coordination GRAND RAIL CITY OF IOWA CITY 15 Project Examples MIXED -USE The Madison COraLville, Iowa Year 2018 Cost $9.4 million Size 60,00o square feet Units 38 Retail SF16,027 square feet Parking 36 indoor stalls plus surface Contact Kelly Hayworth City Administrator (319) 248-1700 khayworthga coralville.org Project Highlights The Madison Was the second mixed -use retail and condominiums development at Iowa River Landing with a fully occupied first level of commercial space this is a vibrant and active building. • Mixed -Use • Residential • Destination • Team Continuity • Phased • Development Strategies • Design Guidelines • Multi -Discipline Coordination GRAND RAIL CITY OF IOWA CITY 1 16 Project Examples ■ i �::;i 411M ■n a:I Now �■ ■■■i on ®■ MIXED -USE The Austin COraLville, Iowa Year 2019 Cost $7.4 million Size 50,500 square feet Units 22 Office SF 13,000 square feet Retail SF 13,000 square feet Contact Kelly Hayworth City Administrator (319) 248-1700 khayworthga coralville.org .A Project Highlights The Austin is the third phase of the mixed - use retail and condominium development plan at Iowa River Landing. With 22 residential condominiums and anchor tenants Ethan Allen and TIAA, this building complements everything that is IRL. • Mixed -Use • Phased • Destination • Design • Team Continuity Guidelines • Development • Multi -Discipline Strategies Coordination GRAND RAIL CITY OF IOWA CITY 17 Project Examples MIXED -USE Riverview Plaza Buildings I, II, III COraLvILLe, Iowa Year Phase I: 2018, Phase II: 2019; Contact Randy Ward Phase III: 2020 Founder, Randy's Flooring Cost $20.2 million (all phases) (319) 354-4344 Size 134,000 square feet (all buildings) randywardaarandysffooring.com Units 135 (all buildings) Retail SF26,000 square feet Parking 45 indoor stalls plus surface 1 Al r _ -00, V-1, Aw, r_�_ t Project Highlights Riverview Plaza is comprised of three buildings with 24,000 sq feet of commercial space and 135 residential condominiums. • Mixed -Use • Design • Residential Guidelines • Team Continuity • Multi -Discipline Coordination • Phased • Development Strategies GRAND RAIL CITY OF IOWA CITY 1 18 Project Examples RESIDENTIAL Douglas Luxury Condominiums Cedar Rapids, Iowa Year 2023 Cost $12.4 million Size 69,000 square feet Units 24 Parking 40 indoor stalls plus surface Project Highlights Located in southeast Cedar Rapids, Douglas Luxury Condominiums create a unique residential space With access to Luxury amenities, including a private courtyard, Large exercise room, and a multipurpose room. • Residential • Luxury Amenities • Innovative MuLti-Discipline Solutions Coordination GRAND RAIL CITY OF IOWA CITY 19 Project Examples RESIDENTIAL NewBo Lofts Cedar Rapids, Iowa Year 2023 Cost $28.5 million Size 144,585 square feet Units i11 Parking 67 indoor stalls plus surface L, Ti �1 I� d i' Contact Jim Piersall, Partner jpiersallaa piersalllaw.com 319-36o-1855 lip Project Highlights NeWBo Lofts is a Luxury apartment community coming With ill units and amenities including an on -site fitness center, Lower Level heated parking and more. • Residential • Amenities • Innovative • MuLti-Discipline Solutions Coordination GRAND RAIL CITY OF IOWA CITY 1 20 Project Examples RESIDENTIAL Sinclair on 16th Cedar Rapids, Iowa Year 2025 Cost $10.7 million Size 37,000 square feet Units 54 Parking 36 indoor plus surface Project Highlights The small scale development With 54 market -rate rental units integrates into the historic the Oak Hill Jackson neighborhood. • Residential • Multi -Discipline • Neighborhood- Coordination friendly design • First Floor Parking GRAND RAIL CITY OF IOWA CITY 1 21 Project Examples RESIDENTIAL Spring Rose Circle MuLti-Family Building Coralville, Iowa Year 2024 Contact Jake Evans Cost $7.3 million CFO, Grand Rail Construction Size 55,000 square feet and Development Units 32 total (319) 626-6300 Parking 32 stalls 10 Al Project Highlights This shows photos of one of several buildings that have been constructed on Spring Rose Circle in Coralville over the past 10 years that have individual condos for sale. • Residential 1, 2, & 2 bedroom Multi -family plus den Layouts • Underground parking GRAND RAIL CITY OF IOWA CITY 1 22 Project Examples COMMERCIAL Urban Acres Building COraLville, Iowa Project Highlights VersatlLe COmmerciaL Office Space that houses over 50 Urban Acres agents. Built to Suit • Hidden Rear SoLar Year 2017 Contact Jake Evans Panels • Custom Interior Cost $2.2 miLLion CFO, Grand Rail Construction Wood and SteeL Size io,000 square feet and DeveLopment Beams Parking Front and Rear Surface (319) 626-6300 n I �I 111 111 li too 4i all at It I lal ,n a � � dill II �,� rl id QI I t11rs Id I III nimpn 1 iT lillil 111 ICI no I'r a iil pug �n mr .. 11 �I 11111 Illy NI all ii e II111 •� �N� 11 If 0 111 u in i �I MAN iil is 11 � u� i Ilil� 111� �I' 1,!11 lii IN� 11 �3 1� rli '" �• n n � i ill 161 iii ill �� .r �1 llil -r-=— — i �IIII III „�1� 111 IIIII lop' _, GRAND RAIL CITY OF IOWA CITY 1 24 Project Examples W MOM CONSULTANTS *Images courtesy of Gilbane Development Company_ MIXED -USE The Hive Iowa City, Iowa Year 2023 Cost N/A Size 355,000 square feet Units 250 total with 50o bedrooms Parking 2o6 indoor stalls plus storage 71 Contact Kimberly Badenoch Gilbane Development Senior Construction Executive kbadenochga gilbaneco.com (804) 314-9370 to Po- nsl Project Highlights Axiom Consultants provided civil engineering services for The Hive Apartments, a purpose- built student housing project designed for University of Iowa students. • Residential • Destination • Development Strategies • Multi -Discipline Coordination GRAND RAIL CITY OF IOWA CITY 1 25 Project Examples 4) MIXED -USE Domestic Violence Intervention Program Shelter Iowa City, Iowa Year 2024 Cost $7.7 million Contact Kristie Doser Size 355,000 square feet DVIP Units Room for 65-7o beds Executive Director kristiega dvipiowa.org (319) 382-2003 Project Highlights Axiom Consultants acted as the Owner's Representative and overall Design Project Manager, while providing civil, electrical, mechanical, and structural engineering services for the Terry Fortmann Emergency Shelter, a crucial facility for the Domestic Violence Intervention Program in Iowa City. • Mixed -Use • Development Strategies • Multi -Discipline Coordination a -- } ,r� Air" Irv., t .'.... IN film f 1�� Financial Capacity GRAND RAIL CITY OF IOWA CITY 1 27 Financial Capacity if HILLS BANK CORALVILLE October 30, 2024 Re: Venture One, LLC 21 North Linn Street Project To: City of Iowa City, Venture One, LLC is looking to bid on the aforementioned project. This is to serve as affirmation that Hills Bank has had dealings with them for a number of years and would certainly recommend them as a qualified contractor for this, and would be interested in looking at approving financing for the same. A loan commitment would be subject to: - Satisfactory Credit underwriting confirming all of the bank's criteria are met - Final loan approval as approved by the bank Please contact me with any questions you may have. Sincerely, J Dean Stockm Senior Vice President, Commercial Banking, NNILS# 408420 Direct 319.358.6161 Mobile 319.333.4894 "HILLS► BANK 1009 2"e St., PO Box 5820, Coralville IA 52241 hillsbank.com Hills Bank Business Academy Hills • Iowa City • Coralvitle • North Liberty • Kalona • Cedar Rapids 1009 end St., PO Box 5820 l Coralville, IA 52241 Lisbon • Mount Vernon • Marion • Wellman • Washington 1.800.445.5725 hlllsbank.coni Member FDIC GRAND RAIL CITY OF IOWA CITY 1 28 Financial Capacity Grand Rail Development has been a builder in the area for 40, years and maintained local lender relationships with the ability to perform simultaneously on multiple multi -million dollar projects. Our current lender for this project will be with Dean Stockman and Hills Bank. HiLLs Bank & Trust Company Dean Stockman Senior Vice President Commercial Lending Dean_Stockman(a hillsbank.com (319) 358-6161 GreenState Credit Union Aaron Friederich Vice President Commercial Lending afriederichaa greenstate.org (641) 590-4579 CBI Bank & Trust Zach Kenyon Vice President Commercial Banker zach.kenyonaa cbibt.com (563) 94a-5949 GRAND RAIL CITY OF IOWA CITY 30 Project Narrative The city's vision for a development at the cornerof Washington and Linn Street provides an exceptional opportunity to Weave a new community asset into the fabric of the city, complementing the civic experience already present in the district and contributing to the thriving heart of downtown. We are proposing a distinguished and contextually integrated six -story building that offers a vibrant mix of uses, featuring a performing arts and entertainment space on the ground level, commercial office space on levels 2 through T 4, and residential units on levels 5 and 6. The development emphasizes community connection, sustainability, resilience and flexibility. This development aims to create a functional, enduring addition to the downtown core, aligning with the city's vision for a vibrant, community -focused environment. By integrating mixed uses, prioritizing sustainability, and ensuring resilience, the project will contribute meaningfully to the area's cultural, commercial, and residential growth. The location of the original city hall, on a prominent corner of downtown, is surrounded by buildings of civic success and importance. We believe any proposal for the site should aspire to those ideals. A city for the arts A 6,300 square foot performing arts and entertainment space anchors the pedestrian level of this prominent corner, reinforcing the district's role as a vibrant cultural hub, enhancing downtown's appeal a regional destination for arts and entertainment. Work at the heart of downtown The 31,000 square feet of commercial office space on levels 2 through 4 offer tenants the opportunity to work in the heart of Iowa City in an environment designed with an emphasis on wellness and sustainability. The commercial floors are designed with a structural system that ensures wide column spacing, providing expansive and adaptable areas suitable for a range of tenant layouts —ensuring flexibility and functionality for generations to come. Accessible & affordable housing Levels 5 and 6 feature 20 residential units, four of which will be designated as affordable housing. A below grade parking garage and roof top amenity space will serve the residential tenants. These units offer comfortable and modern living spaces, contributing to the city's goal of providing inclusive housing options for a diverse population in the core of the city. GRAND RAIL CITY OF IOWA CITY 31 Project Narrative Sustainable & resilient The building design prioritizes sustainability, with features that promote energy efficiency, occupantwellness, and a reduced environmentalfootprint. Strategies include optimizing window placement to maximize daylight and views, reducing the need for artificial lighting and enhancing the connection to the outdoors. Exterior window shading elements will further contribute to minimizing heat gain. While the use of brick serves an important contextual purpose, it is also a durable, low -maintenance material that will decrease building life -cycle costs and is ultimately recyclable at the end of its useful Life. Open floor plates on the commercial levels provide flexibility forvarious tenant needs, allowing for adaptability for tenants now and in the future. Solar panels on the roof top in combination with full building electrification, eliminates all future dependence on fossil fuels. This design is shaped to follow the principles of LEED as minimum project expectations. OPN Architects has also protectively raised the standard for our own technical specifications and material requirements to maximize healthy choices by red -listing high VOC content material and plastics, while prioritizing low - carbon selections. Wellness The building integrates outdoor green spaces throughout its height, from the street level to the roof. The project team willwork with the city to develop a cohesive and integrated streetscape on Linn Street and Washington Street that provides both areas of tranquility and activity. We envision a ground -floor tenant that takes every opportunity to engage with the life of the city with a strong pedestrian -level presence achieved through indoor/ outdoor connections and public way gathering areas. An outdoor terrace on the 4th floor offers commercial tenants a space to gather, work, or relax under the sun. On the penthouse roof deck, we envision a residential tenant garden with space for social life, relaxing, and cultivating, that invites residents to connect with nature and their community in the heart of the city. Durable Materials and Construction The construction emphasizes the use of durable materials to ensure the building's long-term resilience. The combination of brick masonry and modern structural systems creates a building that embodies both strength and adaptability, ensuring it remains a functional and integral part of the community for generations. '+•���'� "�"`�;i '�_ i;;:: i} �j "ems N' r { .YET' - - •. • -,0 t •�" .+3v •'. - �— "`'., - --- -S.[ � 't r _ fir' ' e•.f-r,. _ ..t••:, t'yl�.. t. '°r"e;'� v roR� - ` - _ mil.' - e� � � .�� -- ti• „ 4p Ile ' •' _ � �lV � !1 '.S`�- 4� ' � � - d� � � �jj f �. �� !� EIS �\';�.,' .�.-' i ` — - k ..r H*: a�yS�T� • `Y ITV y 1� J l i J 1 h r' ri ^•3 µ`A-m- -yam Drrtjh GRAND RAIL CITY OF IOWA CITY 33 City Occupied Space Narrative While We have multiple potential tenants interested in Lease and/or purchase options for our proposed commercial space as evidenced by our attached Letters of interest. Tenants/Occupants wiLL be formalized at a Later date once final costs are determined. We anticipate that the City, as indicated, may be one of those potential tenants. Our intent is to fully design the exterior, the structure and structural components and the full finish of all the residential floors. On the commercial floors we wiLL design the necessary buildings components but Leave the overall interior of the commercial floors open so that they can be finished to suit the final occupant. Once those designs and estimated final costs are established, we wiLL engage all remaining interested parties to determine needs and Wants to further design and determine individual costs of interior Layouts and construction for each interested party and determine potential Lease rates or purchase terms. Depending on the City's requirements and needs we Would be more than wiLLing to work out either a short or Long-term occupancy arrangement. i GRAND RAIL CITY OF IOWA CITY 34 Project Design The building is crafted with durability and resilience in mind, drawling inspiration from Iowa City's historical character. The building's overall form and massing was developed to be respectful to the prevailing scale and character of the street. On the Washington Street facade, the butler three floors are a continuation of the street edge established by the historical buildings to the west. The building is clad in brick masonry with thoughtful detailing which takes cues from downtown buildings. Glazed openings continue the cadence of adjacent buildings, and an innovative shading element inspired by the ubiquitous arches across downtown adds a symbolic richness and depth to the facade. A so -foot gap between the building and its neighbor allows the United Action for Youth Coexist mural to still be seen from street level. I GRAND RAIL CITY OF IOWA CITY 35 Project Design a. Conceptual renderings or schematics, including one or more which show the proposed building in relationship to adjacent properties Washington Street Elevation Linn Street Elevation 75'-0" LP 63'-9" L6 52'-6" L5 40'-0" L4 27'-6" L3 15'-0" L2 Ll -10'-6" LB GRAND RAIL CITY OF IOWA CITY 36 Project Design a. Conceptual renderings or schematics, including one or more which show the proposed building in relationship to adjacent properties Washington Street Elevation Linn Street Elevation GRAND RAIL CITY OF IOWA CITY 37 Project Design a. Conceptual renderings or schematics, including one or more which show the proposed building in relationship to adjacent properties West Elevation North Elevation GRAND RAIL CITY OF IOWA CITY 38 Project Design b. Conceptual square footage of commercial space c. Conceptual square footage and size/type of residential units d. Schematic layout of commercial and residential floors and parking \ j 1 / 1 / STORAGE 1 / 1 / 1 / -rlrrlrrm / I llI111L \\ / SECURE \ / BICYCLE PARKING \ / MECHANICA 1 / UP =1R=JAPAUs]:1 PARKING TENANT STORAGE EXISTING TRANSFORMERS IL RESTROOI SHAFT MAIL IT 7rlrrl rrm IL �O Z LOBBY K FO U UNDERGROUND PARKING ENTRY ■ ■ ENTER 65' ■ L- - - - - - - - - -�- - - - - - - - -- BASEMENT PARKING GROUND 0 GRAND RAIL CITY OF IOWA CITY 39 Project Design b. Conceptual square footage of commercial space c. Conceptual square footage and size/type of residential units d. Schematic layout of commercial and residential floors and parking SECOND/THIRD FOURTH GRAND RAIL. CITY OF IOWA CITY 40 Project Design b. Conceptual square footage of commercial space c. Conceptual square footage and size/type of residential units d. Schematic layout of commercial and residential floors and parking STORAGE IECHANICA WELL I ROOF GARDEN 6220 SF 0 0 IF FIFTH/SIXTH ROOF 0 im GRAND RAIL. CITY OF IOWA CITY 41 Project Design e. Rendering of the pedestrian -level facade. GRAND RAIL. CITY OF IOWA CITY 42 ii. Aerial View v; r -�lm � lt ost = w R ry 7 S S S I s � IF kn ` ■ I F inn pp ' � i •W i II Ile 1555 r y r , s =k s k rip 101 _ - �II �.e' -�' •!�� .. 6r '� � �� � � � .�� -.; _ ,do-. �� ��■ 4 g I INN- ----- Rig -lz ._ 7:7 �t vnsLrucuvn ana nancing Narrative GRAND RAIL. CITY OF IOWA CITY 47 Construction and Financing Narrative a. Organization and management approach to the project k, Z? G 0 Discovery Phase Grand Rail Development (General Contractor), Urban Acres (Real Estate) Design and Development Phase Grand Rail Development, OPN Architects (Arch itectura1), Axiom Consultants WEPT) Project Submission to Municipalities Grand Rail Development, OPN Architects Bidding Phase Grand Rail Development, OPN Architects Approvals Grand Rail Development, OPN Architects, City of Iowa City Contract/Lease Negotiations Grand Rail Development, Urban Acres, OPN Architects Construction Commencement Grand Rail Development Final Inspection Milestone Grand Rail Development Closeout Grand Rail Development & City of Iowa City 10 FOLLOW Ups & Check In Grand Rail Development & City of Iowa City 11 Property Management Grand Rail Development & Brotherton Investments GRAND RAIL. CITY OF IOWA CITY 48 Construction and Financing Narrative b. Schedule Anticipated Project Schedule fiction October 2028 Move -in Occupancy November - December 2028 GRAND RAIL CITY OF IOWA CITY 49 Construction and Financing Narrative c. Financing Plan & Pro Forma As documented in the financial capacity section on page 27, we intend to work with Dean Stockman of Hills Bank for both the construction loan and permanent loan financing. Should we be awarded this project, we will enter into a formal financing agreement with Hills Bank. With this type of project we believe that flexibility is key. We are open to selling or leasing the entire project or a combination of both. That said, when evaluating any project, we look at the most probable scenarios to determine if a project is viable. Scenario mI The first scenario would involve selling all the residential units on floors 5 and 6 as well as all the commercial space. While we don't anticipate selling s00% of the building, it helps to evaluate the margins. In this case, With our expected sales proceeds minus our construction costs we would estimate a NET profit of $1.,648,1.71. Which Would be 7% of the total hard costs of the construction. This is an acceptable return as Grand Rail Will have a general contracting fee and Urban Acres Will receive commissions on all sales. Scenario 2 The second scenariowould also involve selling allthe residential units on floors 5 & 6. Instead of selling the commerical units, we Would lease them. In our pro forma we have included a nominal interior building allowance above the traditional and basic "white envelope finish:' In reality we would engage and negotiate with each tenant on their specific needs and that portion of the buildout cost could go up or down but for these purposes we have just figured in a set per sqft allowance for finish. This model shows us spending a little more than $5 million to fund the project with a 6% cash on cash return. This is also an acceptable return as Grand Railwill have a general contracting fee, and Urban Acres will have sales commissions. Because we are both the owners and investors, we are able to keep our overall project costs down compared to our competitors and are able to make projects work at a slightly lower rate of return than others. We feel very confident in the viability of our proposed project as it is in line with returns that we have made previous deals. We see no reason that Hills or any other local lender would not loan us our construction and permanent financing based on our projections. Residential Condo Sales Unit Floor Bedrooms SgFt Price PerSgFt Garage# Type Price Total Price 5th Floor 1-Bed 568 $300,000 $528 N/A N/A N/A $300,000 5th Floor 1-Bed 568 $300,000 $528 N/A N/A N/A $300,000 5th Floor 2-Bed 847 $450,000 $531 1 1-Stall $50,000 $500,000 5th Floor 2-Bed 847 $450,000 $531 2 1-Stall $50,000 $500,000 5thRoor 1-Bed+Den 807 $450,000 $558 3 1-Stall $50,000 $500,000 5thRoor 1-Bed+Den 807 $450,000 $558 4 1-Stall $50,000 $500,000 5thRoor 1-Bed+Den 807 $450,000 $558 5 1-Stall $50,000 $500,000 5thRoor 1-Bed+Den 807 $450,000 $558 6 1-Stall $50,000 $500,000 5th Floor 2-Bed 872 $525,000 $602 7 2-Stall Tandem $75,000 $600,000 5th Floor 2-Bed 872 $525,000 $602 8 2-Stall Tandem $75,000 $600,000 6th Floor 1-Bed 568 $300,000 $528 N/A N/A N/A $300,000 6th Floor 1-Bed 568 $300,000 $528 N/A N/A N/A $300,000 6th Floor 2-Bed 847 $475,000 $561 9 1-Stall $50,000 $525,000 6th Floor 2-Bed 847 $475,000 $561 10 1-Stall $50,000 $525,000 6thRoor 1-Bed+Den 807 $475,000 $589 11 1-Stall $50,000 $525,000 6thRoor 1-Bed+Den 807 $475,000 $589 12 1-Stall $50,000 $525,000 6thRoor 1-Bed+Den 807 $475,000 $589 13 1-Stall $50,000 $525,000 6thRoor 1-Bed+Den 807 $475,000 $589 14 1-Stall $50,000 $525,000 6th Floor 2-Bed 872 $550,000 $631 15 2-Stall Tandem $75,000 $625,000 6th Floor 2-Bed 872 $550,000 $631 16 2-Stall Tandem $75,000 $625,000 Commercial 1st Floor Entertainment 6,573 $3,943,800 $600 Condo Sales 2ndFloor Office 10,262 $5,131,000 $500 3rd Floor Office 10,262 $5,131,000 k $500 4th-A Office 3,844 $2,210,300 P $575 4th - B Office 3,844 $2,210,300 $575 Total $18,626,400 *includes (NET) 94% $17,508,816 interior Build -OW Total $9,800,000 (NET) 94% $9,212,000 Total Residential $9,212,000 NET Total Commercial $17,508,816 NET Total Sales $26,720,816 NETTotal Construction Costs $22,072,645 $265 per SgFt Land $3,000,000 Estimated Total Costs $25,072,645 NET Profit $1,648,171 %of Hard Costs 7% Residential Condo Sales Unit Floor Bedrooms SgFt Price PerSgFt Garage# Type Price Total Price 5th Floor 1-Bed 568 $300,000 $528 N/A N/A N/A $300,000 5th Floor 1-Bed 568 $300,000 $528 N/A N/A N/A $300,000 5th Floor 2-Bed 847 $450,000 $531 1 1-Stall $50,000 $500,000 5th Floor 2-Bed 847 $450,000 $531 2 1-Stall $50,000 $500,000 5thRoor 1-Bed+Den 807 $450,000 $558 3 1-Stall $50,000 $500,000 5thRoor 1-Bed+Den 807 $450,000 $558 4 1-Stall $50,000 $500,000 5thRoor 1-Bed+Den 807 $450,000 $558 5 1-Stall $50,000 $500,000 5thRoor 1-Bed+Den 807 $450,000 $558 6 1-Stall $50,000 $500,000 5th Floor 2-Bed 872 $525,000 $602 7 2-Stall Tandem $75,000 $600,000 5th Floor 2-Bed 872 $525,000 $602 8 2-Stall Tandem $75,000 $600,000 6th Floor 1-Bed 568 $300,000 $528 N/A N/A N/A $300,000 6th Floor 1-Bed 568 $300,000 $528 N/A N/A N/A $300,000 6th Floor 2-Bed 847 $475,000 $561 9 1-Stall $50,000 $525,000 6th Floor 2-Bed 847 $475,000 $561 10 1-Stall $50,000 $525,000 6thRoor 1-Bed+Den 807 $475,000 $589 11 1-Stall $50,000 $525,000 6thRoor 1-Bed+Den 807 $475,000 $589 12 1-Stall $50,000 $525,000 6thRoor 1-Bed+Den 807 $475,000 $589 13 1-Stall $50,000 $525,000 6thRoor 1-Bed+Den 807 $475,000 $589 14 1-Stall $50,000 $525,000 6th Floor 2-Bed 872 $550,000 $631 15 2-Stall Tandem $75,000 $625,000 6th Floor 2-Bed 872 $550,000 $631 16 2-Stall Tandem $75,000 $625,000 Commercial 1st Floor Entertainment 6,573 $230,055 $35 Leasing 2nd Floor Office 10,262 $307,860 $30 3rd Floor Office 10,262 $307,860 $30 4th-A Office 3,844 $126,852 $33 4th - B Office 3,844 $126,852 $33 Total $1,099,479 *includes Monthly $91,623 interior Build -OW Total $9,800,000 (NET) 94% $9,212,000 Construction Costs $22,072,645 $265 per SgFt Land $3,000,000 Estimated Total Cost $25,072,645 Residential Sales $9,212,000 NET Down Payment20% $5,014,529 Total Loan $10,846,116 P&I $66,604 Cash on Cash 6% GRAND RAIL CITY OF IOWA CITY 52 Construction and Financing Narrative d. Letters of Intent THE ENGLERT THEATRE 221 E WASHINGTON STREET IOWA CITY, IA 52240 GRAND RAIL CONSTRUCTION & DEVELOPMENT 2810 STONER CT STE 5 NORTH LIBERTY, IA 52317 1 hope this message finds you well. I am writing on behalf of The Englert Theatre to express our continued interest in your proposed project at 21 South Linn Street. Having thoroughly considered the opportunities that this location presents, we have identified it as a prime candidate for our planned expansion, and we are enthusiastic about the prospect of working together. Please accept this letter as a formal indication of our interest in pursuing a lease or potential purchase agreement, pending the outcome of the Request for Proposals (RFP) process. We recognize that final terms and pricing will need to be established, and our interest is contingent on those details. However, we are eager to explore this partnership further should your proposal be selected by the City of Iowa City. We look forward to staying informed as the RFP process progresses and welcome any updates you can provide. Thank you for considering us as part of your development vision. We are excited about the possibilities and remain committed to exploring this opportunity in earnest. Sincerely, John Schickedanz Executive Director GRAND RAIL CITY OF IOWA CITY 53 Construction and Financing Narrative d. Letters of Intent ho using fellowship Housing Management with a Mission 21 South Linn St Development Group 2810 Stoner Ct 45 North Liberty, IA 52317 Letter of Interest, Acquisition, 21 South Linn Street, Iowa City, Iowa 52240 I am writing on behalf of The Housing Fellowship to follow up on our previous discussions about your proposed project at 21 South Linn St, Iowa City, IA. Please accept this letter as a statement of our interest in potentially moving forward with a purchase agreement for 2 —4 condominiums at the proposed site. We have identified this property as a preferred location for a purchase for housing and we are excited about the opportunity to work with your group. Our mutual interest would be contingent on final pricing and terms, but we wanted to make clear our interest in potentially moving forward if you are granted the RFP from the City. Thank you and we look forward to updates during the RFP process. Sincerely, Simon Andrew Executive Director GRAND RAIL CITY OF IOWA CITY 54 Construction and Financing Narrative d. Letters of Intent J(1WA October 22, 2024 Mike Bails 21 South Linn St Development Group 2810 Stoner Ct #5 North Liberty, IA 52317 Dear Mr. Bails, The International Writing Program University of Iowa 100 Shambaugh House Iowa City, Iowa 52242-0000 iwp.uiowa.edu I am writing on behalf of the University of Iowa International Writing Program to express interest in partnering with you regarding your proposed new building at 21 South Linn St, Iowa City, IA. Specifically we would seek to sign a partial -year lease, recurring over multiple years, for up to 30 units for visiting artist residencies. Our interest would be contingent on final pricing and terms. In the meantime, please accept this letter as a statement of our interest in working with you. Sincerely, Christopher Merrill Director IntPrnatinnal Writinn Prnnram GRAND RAIL CITY OF IOWA CITY 55 Construction and Financing Narrative d. Letters of Intent MINIZI ARCHITECTS Cedar Rapids 200 Fifth Avenue SE Ste. 201 Cedar Rapids, Iowa 52401 (319) 363-6018 ues PA Ines 100 Court Avenue Ste. 100 Des Moines, Iowa 50309 (515) 309-0722 Iowa City 24 '/ S. Clinton Street Ste. 1 Iowa City, Iowa 52240 (319) 363-6018 Madison 301 N. Broom Street Ste. 100 Madison, Wisconsin 53703 (608) 819-0260 Minneapolis 212 N 3rd Avenue, Ste. 312 Minneapolis, Minnesota 55401 (612) 355-7111 opnarchitects. corn Letter of Interest for 21 South Linn St Property 21 South Linn St Development Group 2810 Stoner Ct #5 North Liberty, IA 52317 I am writing on behalf of our organization to follow up on our previous discussions about the proposed project at 21 South Linn St, Iowa City, IA. Please accept this letter as a statement of our interest in potentially moving forward with a future lease agreement at the proposed site. We have identified this property as a preferred location for our upcoming relocation and we are excited about the opportunity to work with your group. Our mutual interest would be contingent on final pricing and terms, but we wanted to make clear our interest in potentially moving forward if you are granted the RFP from the City. Thank you and we look forward to updates during the RFP process. Sincerely, Justin Bishop, AIA GRAND RAIL CITY OF IOWA CITY 56 Construction and Financing Narrative d. Letters of Intent ACT October 17, 2024 21 South Linn St Development Group 2810 Stoner Ct #5 North Liberty, lA 52317 Re: Letter of Interest for 21 South Linn St Property To Whom It May Concern: I am writing on behalf of our organization to follow up on our previous discussions about your proposed project at 21 South Linn St, Iowa City, IA (the "Proposed Project"). Please accept this letter as a statement of our interest in potentially moving forward with a future lease agreement for office space at the Proposed Project. We have identified this property as a preferred location for our upcoming relocation and we are excited about the possibility of working with your group. As we discussed, our mutual interest would be contingent on final pricing and terms, but we wanted to make clear our interest in potentially moving forward if you are awarded the project and execute a resulting contract with Iowa City. Thank you and we look forward to updates during the RFP process. ZSince Jas Appel SVP, General Counsel 500 ACT Dr. I Iowa City, Iowa 52243-0168 319-621-1456 Jason.Happel(a�act.orq I www.ACT.orq GRAND RAIL CITY OF IOWA CITY 57 Construction and Financing Narrative d. Letters of Intent Stories Project of Iowa City October 19, 2024 Mike Bails 21 South Linn St Development Group 2810 Stoner Ct #5 North Liberty, IA 52317 Dear Mr. Bails, Brent Stinski Executive Director 308 E. Burlington St. #230 Iowa City, IA 52240 I am writing on behalf of Stories Project of Iowa City regarding our discussions about your proposed project at 21 South Linn St, Iowa City, IA. Please accept this letter as a statement of our interest in potentially moving forward with a future lease at the proposed site. We have identified this property as a preferred location for Stories Project, and we are excited about the opportunity to work with your group. Our mutual interest would be contingent on final pricing and terms, but we wanted to make clear our interest in potentially moving forward if you are granted the RFP. Thank you for considering us as a potential partner. We look forward to working with you. Sincerely, Brent Stinski GRAND RAIL CITY OF IOWA CITY 58 Construction and Financing Narrative e. Marketing Approach Partner Mike Bails co -owns the largest real estate Brokerage in the Iowa City area and has been the top salesperson individually for the last eight years in the Iowa City and Cedar Rapids Area MLS. Mike and his partners at The Bails Team, they will take the lead in marketing the residential condominiums for sale as well as handling all of the leasing or sales of the commercial space. Mike's wife, Angela Bails owns a local real estate management company called Brotherton Investments that will manage the common area and overall maintenance of upkeep of the building after occupancy. Commercial Because of the nature and location of the project we have already pre -identified several potential occupants for the commercial areas along with the potential interest from the City of Iowa City. As seen on page 49 through 54, we secured Letters of Interest from The Englert, ACT, The Stories Project and our design partners at OPN Architects. In addition to the already identified potential occupants we plan to list any vacant commercial space on the Iowa City and Cedar Rapids MLS as Well as Crexi and LoopNet Which are national companies which advertise for the commercial Leasing, buying and selling. We would also utilize our regular social media and other local media advertising campaigns focusing specifically on this project. Resi We have received interest from The Iowa City Housing Fellowship to purchase two to four residential units as Well as from the University of Iowa International Writer's Program for a leasing arrangement for their Writers in residence program. Our preference is to sell off the residential units rather than leasing them, but as the project evolves, we plan to explore all options. As With the commercial space, we plan to list the residential properties for sale on both the Iowa City and Cedar Rapids MLS and work on pre -sales once the project is underway. One of the specialties of The Bails Team is working on new construction and pre -sales and is very familiar on the intricacies of those types of transactions and how to take them from offer to closing and everything that is involved in between when purchasing a property that is not complete. riri�� :ram_ Virtual Tours: Elevate Web -based virtual reality experiences can be custom branded with inter- active floorplans, custom user interface, and Google Analytics integration. We created high -quality photorealistic promotional materials for Elevate, the Coralville development that is a collaboration of Venture One and OPN. This required still renders, cinematic video for commercial use, and a live pre -leasing digital twin. The digital twin is a guided virtual tour showcasing the amenities and apartment types. The user interface, branding, and website integration were closely coordinated with the brand and web development agencies hired by the developer. The tour includes a virtual tour guide and direct integration with the leasing inquiry page and is developed for desktop and mobile orientations. GRAND RAIL CITY OF IOWA CITY 59 Construction and Financing Narrative f. Proposed Purchase Price We are using $3 million as the cost of the land for our pro forma. IThe final purchase price would be subject to negotiations between Venture One and the City based on mutually beneficial factors that apply to the project, which may include, but would not be limited to: future tax base increase, achieving specified building and project design criteria, finalizing purchase agreements with the City of Iowa City Housing Fellowship for units to be used for their affordable housing programs, support of non-profit occupants, occupancy by the City of Iowa City, etc. These are some of the possible factors which could yield a higher or butler price based on the City's final requirements for the proposed project. g. The proposed amount and description of gap financing assistance for the project Based on our current projected costs and estimated proforma assistance. While We are not planning to ask for any TIF or other Gap financing, two of the potential occupants have told us that they may ask for assistance from the City. If there is an individual occupant that has a program or business that the City feels strongly enough to support for incentives we Would be supportive and be willing to assist in the process. We want to emphasize that any potential incentives that the City might want to give to an individual occupant Would go Z00% to them and not us as the developers. !at Yr Jd '01 7f ol lb :IF 4. RAW ALI, GRAND RAIL CITY OF IOWA CITY 61 Legal History EXHIBIT D LISTING OF LAWSUITS OR LITIGATION WITHIN THE PAST FIVE YEARS Lawsuit or Litigation Grandrail Our company has not been involved in litigation within the past 5 years, no felonie. OPN Architects OPN has had two instances of litigation or arbitration with a client in the last five years. Mike Bails Has not been involved in litigation within the past 5 years with no felonies. Filed a lawsuit against a former business partner for fraud in 2021. Lawsuit was settled to the satisfaction of all parties in 2023. Axoim Axiom has had one instance of litigation with a client in the last five years. Status or Outcome OPN Architects The first involved mediation to address additional construction observation services provided by OPN Architects that were necessary to complete the project. Excessive delays in the completion of the project were created solely by the general contractor. This dispute was resolved through mediation between the owner/architect, and between the owner/contractor. The second is a pending matter involving a claim between an owner and contractor, and recently, OPN has been added to the claim by the contractor. The claim involves damages the owner is seeking because the contractor mistakenly removed asbestos containing materials without proper procedures and contaminated the building. The owner is seeking the contractor pay for the decontamination of the school that was required after the improper removal of the hazardous materials. Our legal counsel has advised we have no culpability, and we are seeking dismissal. Axiom This dispute is currently outstanding and is being handled by our insurer. This issue is a claim being made for an environmental fine that the developer received while starting work prior to final design being completed and for work by the earthwork contractor over which Axiom Consultants had no authority or contractual obligation to manage as we weren't contracted for construction administration. Our attorney has advised that we have no culpability and the insurer is seeking dismissal or a settlement. Comments s _ y„[ - _ J� is .. ;�. :r � ` � •, t 1. _ References GRAND RAIL CITY OF IOWA CITY 63 References City of North Liberty Ryan Heiar City Administrator of North Liberty (31g) 626-5700 / rheiaqa)northlibertyiowa.org Ryan Rusnak Planning Director of North Liberty (31g) 626-5747 / rrusnakCa)northlibertyiowa.org City of Coralville Kelly Hayworth City Administrator of Coralville (319) 248-1700 / khayworthCa)coralville.org Dave Johnson Community Development Direction, City of Coralville City of Iowa City Geoff Fruin City Manager of Iowa City gfruinCapiowa-city.org (319) 356-5013 GreenState Credit Union Kathy Courtney COO of GreenState Credit Union kathycou rtneyCa)g reenstate.org (319) 248-7205 ext. 7205 GRAND RAIL CITY OF IOWA CITY 65 Narrative of Difi='erentiators ALL Iowa City Our team is not only i00% local to the Iowa City metro area, we have been our whole lives. Grand Rail Development (North Liberty) has been doing Work in the area for 40+ years. Mike Bails, owner of Urban Acres Real Estate (COraLviLLe) Was born and raised in Iowa City. He has sold real estate in this area for �5+ years. OPN and Axiom are both Located in downtown Iowa City. Beyond the development and design team, Grand Rail uses many Local subcontractors including Mulford Plumbing, Kelly Heating, SLager's Appliance, Bower Drywall, Cusic Masonry and more. The roots of our group run deep in the Iowa City area, and we are very aware of the impact a Large project Like this Will have on the city. Our goal is always to design and construct quality buildings that are both a source of income and pride. Each time we Work on a new project it is an extension of our collective history and reputation. Every project is a Legacy project for our team. Reflecting and Respecting the Context We understand the context and the history of this corner. OPN has been an active partner in the Englert's restoration project and Axiom was part of the team that previously planned to develop the site. Every building site presents its own unique challenges, and we are fully aware of the complexity of building here. As you saw in the design concept, we have already made one important decision — this will not be a high rise. Because of the potential cost of the Land, many developers might think going as high as possible is the only route. We feel that a Large high rise at this corner would be very much "out of context." We want to work with the context of the neighboring buildings to keep the neighborhood feeling and fabric intact. Our goal is to design a building that represents the intersection of past and present with inspiration from its historical location while also providing a modern commercial and residential marketplace. GRAND RAIL CITY OF IOWA CITY 66 Narrative of Difi='erentiators , m FOR SALE GRAND RAIL 4� r • 11 CONSTOUCi�ON & OCV ELOPM ENT 1 i c� SeLf Performing Venture One as a group has the capability to self -perform the development, building, leasing and sales of this proposed project. Because we are involved in all these phases,lve are able to control the costs of materials and labor and complete projects at a Lower margin than most investors Who hire everything out. While we assemble a team Which includes architects, engineers, mechanical contractors and other subs our investor/ownership group is active in the daily management and completion of all phases of the work being completed. Invested Partners We are not asking for gap financing or TIF to make this project a succesdBecause we are responsible for the full financing of the project, it is critical that once a project is started we have full control of the finances to make sure nothing runs substantially over budget. With such tight control it is very seldom that we need to have gap financing or TIF to make a project perform, which is why we are not requesting either for this project. We have the ability, the knowledge and the know-how to make this project a success. EXHIBIT E Proposal submittal signature form The undersigned attests to his/her authority to submit this proposal and to bind the firm herein named to perform if the firm is selected by the City of Iowa City. The undersigned further certifies that he/she has read the Request for Proposal, terms and conditions, and any other documentation relating to this request; has complied in all respects with all conditions hereof, and this proposal is submitted with full knowledge and understanding of the requirements and time constraints noted herein. The undersigned hereby further acknowledges that it accepts the terms of the Request for Proposals in its entirety and by the submission of its proposal hereby waives any claims or claims to irregularities that arise out of such RFP, the process employed by the City to solicit and develop proposals, the RFP evaluation process described in the RFP, and agrees to release and hold harmless the City, its employees, agents, and consultants from any claim, loss, or damage arising therefrom. The undersigned hereby authorizes any person, firm or corporation to furnish any credit history and financial condition or other information required by the City to verify information related to the Firm's submission to the City. hereby certify, on behalf of the undersigned firm, that the above information is true and correct to the best of my knowledge and that the City may rely on the information provided. Firm name. Grand Rail Development Home office address. 2810 Stoner Court Suite 5 City, state, zip: North Liberty, Iowa 52317 Signature:>� Date: November 1, 2024 25 a� N� - � '• ate: _- - I �! a 100 10 Jf inS 1 101At _ jw - + i�!i _ 'URBAN ACRES ARCHITECTS real estate JNIISH0T ARCHITECTURE DEVELOPMENT PROPOSAL FOR 21 SOUTH LINN STREET Iceberg Development Group, LLC SLINGSHOT ARCHITECTURE + HODGE CONSTRUCTION NOVEMBER 1, 2024 ICEBE DEVELOPMENT CBRE HC)[)rj-E CONSTRUCTION ' COMPANY TABLE OF CONTENTS 21 SOUTH LINN STREET PROPOSAL 1. Developer's Letter of Interest 3 2. Primary Contact 3 3. Development Entity 4 4. Legal Entity 4 5. Organizational Chart 5 Slingshot Purpose 6 6. Previous Experience Iceberg Development Group 7-12 Hodge Construction 13-16 Slingshot Architecture 7-29 IMEG Engineering (Structural + MEPT) 30-43 McClure Engineering (Civil + Landscape) 44-48 7. Financial Capacity 49 8. Narrative Description of Project Project Drivers 50 RFP Goals 51 9. City Office Viability 52 10. Visual Description of Project Renderings 54-56 Program Summary + Massing Diagram 57 Schematic Floor Plans 58-62 11. Construction & Financing Narrative 63 12. Felony and Litigation Statement 64 13. References 64 14. Unique Resources 64 15. Submittal Signature Form 65 EXHIBITS A - Tenant Letters of Interest 66-67 B - Letters of Recommendation 68-71 C1 - Pro Forma 1 72-75 C2 - Pro Forma 2 76 D - Listing of Litigation 77 I & 2 LETTER OF INTEREST + CONTACT INFO October 31, 2024 ICEBERG DERVELOPMENT GROUP, Dear City of Iowa City, On behalf of Iceberg Development Group and our project team, Hodge Construction and Slingshot Architecture, I'm pleased to present the following RFP submission for the 21 South Linn Street Site. We are excited about the potential to activate this corner of downtown Iowa City with a dynamic mix of high quality affordable housing, Class A office space and active community -focused ground floor uses in a beautiful, contextually sensitive building. With the support of the City, our team possesses the experience and commitment to complete the proposed property tax revenue -generating development that will be in the best long-term interests of the downtown economy and larger community. We are thankful for the opportunity to share our vision for this important downtown property and hope to engage with you to work through the details of the proposed uses and financial model. Together we can create something that has a positive impact in the heart of Iowa City for generations. Sincerely, Jim Bergman Owner (Primary Contact) Iceberg Development Group, LLC 7152 Eldorado Pointe West Des Moines, IA 50266 Phone: 563-505-5611 Email: Jim@jnbice.com "Problems are opportunities we have yet to see" LIHTC Development I Commercial Properties I Investment Real Estate I Subdivisions SLINGSH0TARCHITECTURE.00M PAGE 3 OF 77 3 & 4 DEVELOPMENT TEAM - LEGAL ENTITY ICEBERG DERVELOPMENT GROUP, DEVELOPMENT ENTITY: Iceberg Development Group, LLC is wholly owned and controlled by Jim Bergman. Iceberg has successfully completed over $1.5 billion of primarily mixed -use, mixed -income development projects throughout the state of Iowa and surrounding states and owns over 3,800 residential units. Iceberg has extensive experience working with municipalities, local housing authorities, regional housing authorities, state agencies and nonprofit partners. Jim is a licenced tax attorney and certified public accountant. LEGAL ENTITY: Upon selection, Iceberg Development Group will create and be the sole owner of a single- purpose/single-asset LLC which will develop/own/control and operate the proposed development site. Legal Counsel: Mathew M. Keegan I Partner Ward, Murray, Pace & Johnson, P.C. 226 W River St. I POB 404 1 Dixon, IL 61021 WARD, MURRAY, PACE & JOHNSON, P.C. LAW OFFICES Proudly Serving Our CammunhesSince 1862 "Problems are opportunities we have yet to see" LIHTC Development I Commercial Properties I Investment Real Estate I Subdivisions SLINGSH0TARCHITECTURE.00M PAGE 4 OF 77 5 DEVELOPMENT TEAM ORGANIZATIONAL CHART LEAD DEVELnPFP ICEBERG DEVELOPMENT GROUP, LLC. JIM BERGMAN 71S2 ELDORADO POINTE WEST DES MOINES, IA S0266 S63-SOS-S611 CONSTRUCTION MANAGER HODGE CONSTRUTION ANDY HODGE 711 S GILBERT ST. IOWA CITY, IA S2240 319-3S4-2233 LEGAL ENTITY / OWNER SOLE PURPOSE LLC TBD JIM BERGMAN ARCHITECT SLINGSHOT STEVE MILLER 103 E COLLEGE ST. #102 IOWA CITY, IA S2240 319-S69-6772 I I I STRUCTURAL & MEPT IMEG 2882106TH ST. URBANDALE, IA 50322 515-334-9906 REAL ESTATE SERVICES + PROPERTY MANAGEMENT CBRE RILEY HOGAN S9S S 60TH ST. STE 24S WEST DES MOINES, IA S0266 SIS-224-4900 CIVIL &LANDSCAPE MCCLURE 335 SE ORALABOR RD. ANKENY, IA 50021 515-964-1229 SLINGSHOTARCHITECTURE.COM PAGE 5 OF 77 SLINGSHOT PURPOSE We craft positive experience:_ for people in the built environment from the inside . ........4idv-in. We Bring People Together We encourage our clients to expect more from design and challenge us to achieve great things for them. We inquire to find the specific drivers for each stakeholder in order to embed them into our work. What drives you will drive us. We are here to create something amazing, purposeful, specific, and unexpected. We are here to have an impact. SLINGSHOTARCHITECTURE.COA PAGE 6 OF 77 I PROJECT EXPERIENCE: ICEBERG DEVELOPMENT CONCORD AT SHERIDAN CHICAGO, IL I COMPLETED 2023 Iceberg Development Group, LLC I Jim Bergman I jim@inbice.com INFORMATION Located across from Loyola University's main campus, these apartments provide • $42 Million Ground -Up New beautiful new housing for one of the most diverse neighborhoods in the nation. The Construction Concord at Sheridan houses 111 apartments, 133 below -grade vehicle parking spaces and • Seven -story mixed use, mixed -income nearly 30,000 square feet of retail space. The 111 residential units are a mix of one- and development two -bedroom units, affordable housing and market rate. • 150,000 square feet including a 23,000 square foot Neighborhood SLINGSH0TARCHITECTURE.00M PAGE 8 OF 77 WINDMILL LANDINGS BATAVIA, IL I COMPLETED 2023 Iceberg Development Group, LLC I Jim Bergman I jim@inbice.com This 142-unit senior living community serves Batavia and the surrounding area, offering a variety of living and care programs for senior residents. The entire facility is licensed to allow the 62 units designed for independent living to continuously be occupied by the residents as they transition to the higher care level. Included in the congregate living facility are 62 independent living, 56 assisted living and 24 memory support units, which are located on the ground floor. FEATURES AND AMENITIES INCLUDE: • Public and private dining space • Pub and club room • Wellness center • Salon • Convenience center • Theater • Lounge, living and enrichment spaces • Exterior gardens and exercise areas • Multi -purpose community rooms • Bistro cafe • Three story grand lobby INFORMATION: • $42 Million Ground -Up New Construction • 142-unit Senior Living Community SLINGSH0TARCHITECTURE.00M PAGE 9 OF 77 ROSFNWALD COURTS CHICAGO, IL I COMPLETED 2018 Iceberg Development Group, LLC I Jim Bergman I jim@inbice.com INFORMATION • 132 Million Historic Rehabilitation • 239 Mixed -income Unit, senior and family housing • 2-acre Courtyard • 40,000 Square Feet of Retail and Office Space Located in Chicago's Bronzeville Neighborhood, Rosenwald Courts spans an entire city block featuring well-appointed, comfortable apartment homes for both families and seniors. The redevelopment of Rosenwald Courts exemplifies and honors its founder, Julius Rosenwald, and the multitude of successful musicians, athletes, and agents for change that once were residents. AWARDS RECEIVED • CNDA Award for Most Outstanding For -Profit Project (2017) • Richard H. Driehaus Foundation Preservation Award (2017) • Novogradac Historic Preservation (2017) • HUD National Preservation Award (2018) SLINGSHOTARCHITECTURE.COA PAGE 10 OF 77 I PENDING/UNDER CONSTRUCTION DEVELOPMENTS • 1. Avenue Square Apartments 4. Boone Senior Cottages 7. Cottage Bluff Apartments (Madison, WI) (Boone, IA) (Clinton, IA) • 2. Alice Place Senior Living 5. Brookline Apartments 8. Villas at Fox Pointe (Reedsburg, WI) (DeWitt, IA) (Boone, IA) • 3. Alice Place Senior Living 6. Concord at Market Place (West Burlington, IA) (West Des Moines, IA) RECENTLY COMPLETED PROJECTS OAK PARK SENIOR LIVING Muscatine, lA • Established 2020 • 48 Units, Section 42 Senior Independent Living WASHINGTON SENIOR APARTMENTS Bloomington, IL • Established 2020 • 59 Units, Section 42 Senior Independent Living KAHL LOFTS Davenport, lA • Established 2022 • 64 Units, Mixed Income Family Project MONMOUTH TOWNHOMES Monmouth, IL • Established 2023 • 44 Units, Family Project ALICE PLACE SENIOR APARTMENTS Norwalk, lA • Established 2021 • 59 Units, Section 42 Senior Independent Living • $12 Million Total Project Costs ALICE PLACE SENIOR APARTMENTS Monroe, Wl • Established 2022 • 47 Units, Section 42 Senior Independent Living STEAMBOAT VILLAGE Muscatine, lA • Established 2022 • 42 Units, Family Project COMPLETED RESIDENTIAL PROPERTIES (SINCE2005) THOMAS PLACE APARTMENTS Glenview, IL • Established December 2006 • 144 Unit Senior Independent Living PELICAN LANDINGS Gulfport MS • Established July 2009 • 335 Unit, Family Project THOMAS PLACE APARTMENTS Fox Lake, IL • Established August 2010 • 100 Unit Senior Independent Living GREEN GABLES SENIOR LIVING Wentzville, MO • Established 2011 • 48 Units, Section 42 Senior Independent Living HOMETOWN HARBOR East Moline, IL • Established 2011 • 80 Unit, Section 42 Senior Independent Living NORTH LIBERTY LIVING CENTER North Liberty, lA • Established 2011 • 80 Units, Section 42 Senior Independent Living STERLING TOWNHOMES Sterling, IL • Established 2011 • 22 Units, Acquisition Rehab Family Project THOMAS PLACE APARTMENTS Bettendorf, lA • Established January 2011 • 116 Unit, Section 42 Senior Independent Living THOMAS PLACE APARTMENTS Waukee, lA • Established 2011 • 116 Units, Section 42 Senior Independent Living • WAUKEE FAMILY TOWNHOMES Waukee, lA • Established August 2011 • 90 Units, Section 42 Family Project WESTPORT TERRACE APARTMENTS Keokuk, lA • Established 2011 • 72 Unit, Section 42 Family Project CADE COURTYARD Jackson, MS • Established 2012 • 81 Units, Senior Independent Living THOMAS SQUARE APARTMENTS Grimes, lA • Established 2012 • 50 Units, Section 42 Family Project TIMBERLINE TERRACE Quincy, IL • Established 2012 • 57 Units Section 42 Senior Independent Living THOMAS PLACE APARTMENTS Gurnee, IL • Established 2012 • 101 Units, Section 42 Senior Independent Living SLINGSHOTARCHITECTURE.00A PAGE 11 OF 77 I COMPLETED RESIDENTIAL PROPERTIES (SINCE 2005), CONT. BADGER SOUTH APARTMENTS Scattered Locations, Wl • Established 2013 • 96 Units, Section 42 Family Rehab Project of Section 515 GARDINER PLACE APARTMENTS East Dundee, IL • Established 2013 • 80 Units, Section 42 Senior Independent Living PEBBLE CREEK VILLAS Le Claire, lA • Established December 2013 • 20 Units, Senior Independent Living RIVER HAVEN TOWNHOMES East Dundee, IL • Established 2013 • 68 Units, Section 48 Family Project THOMAS PLACE Orland Park, IL • Established February 2013 • 80 Units, Section 42 Senior Independent Living ALICE PLACE APARTMENTS Waukee, lA • • Established 2014 • • 59 Units, Senior Independent Living HUNTERS CHASE SENIOR APARTMENTS Rockdale, TX • Established 2014 • 80 Units, Section 42 Senior Independent Living MILL STREET STATION Oswego, /L • Established June 2014 • 63 Unit Section 42 Family Project VIRGINIA TOWERS Kenosha, Wl • Established 2014 • 34 Units, Senior Independent Living VILLAS AT FOX POINTE Knoxville, lA • Established June 2015 • Unit Section 42 Family Project CITRUS COVE APARTMENTS Bridge City, TX • Established 2016 • 80 Units, Section 42 Family Project HOLMAN PLACE APARTMENTS Hannibal, MO • Established 2016 • 48 Units, Section 42 Family Project VILLAS AT POOL PARK Platteville, Wl • Established 2016 • 34 Units, Section 42 Family Project ALICE PLACE APARTMENTS Boone, lA • Established November 2018 • 50 Units, Senior Independent Living WASHINGTON SENIOR APARTMENTS Clinton, lA • Established December 2018 • 46 Unit Senior Independent Living SLINGSHOTARCHITECTURE.COA PAGE 12 OF 77 I PROJECT EXPERIENCE: HODGE CONSTRUCTION CONSTRUCTION MANAGEMENT STRATEGY FOR 21 S LINN As a General Contractor, Hodge Construction will subcontract all of the trade work, and our 43-year tenure in the Iowa City area means we have longstanding relationships with subcontractors in all trades and are able to solicit competitive bids. We involve select subcontractors throughout the design phase to provide input, and to help ensure the design and cost of the job align with the owner's goals and expec- tations. We will pursue value -engineering options and tap the experience of previous projects and our subcontractors to create a product that best suits the needs of the owner. A smooth and efficient project schedule begins in the initial phases of the project. We will work with the owner and design team to make sure there is a clear vision for the project, then make sure that vision is fully documented in the plans and specifications for the project prior to going out to bid. As we know, change orders after initial bidding often cost the owner more money than if they were included in the plans, so we want to do everything we can to avoid unnecessary expenses and potential delays to the project. Once plans are finalized, we loop in more subcontractors to ensure a competitive bidding process; pro- curing multiple bids for each trade. Thorough project documents will also allow us to effectively initiate the construction process once given the go-ahead. As the current vision stands, we anticipate a 24 month construction duration. Our proj- ect superintendent will conduct weekly on -site meetings with subcontractors to maintain an up-to-date schedule and ensure that everyone is on the same page. These regular meetings allow us to stay on top of any possible delays or issues down the road. The superintendent also maintains a 3-week look -ahead schedule for the subcontractors that can be shared with the owners to provide an up-to-date glance at the project at any point during construction. PROJECT PROFILE Description of project and services provided: The Element Hotel is connected by ground -level lobby to the Edge Condominiums. The Element Hotel is an extended stay hotel, so each of its 90 rooms contains a kitchenette. Additionally, the hotel contains two Studio Commons areas which consist of a shared full size kitchen and living room/gathering space with a series of rooms directly adjoining it. The hotel offers a saline pool, work out room, onsite guest laundry and full service kitchen for providing guest breakfast. The building itself consists of one level of underground parking for the Edge condos, three levels of past -tensioned concrete decks and four levels of wood -framed units. The pool is on the second level and there is a shared roof -top deck with gas ranges and fire pit. Hodge Construction was a part of the development and building pro- cess from the beginning. They worked with Kinseth Hospitality and the architects to meet the expectations of Marriot International while hav- ing an adjacent privately own condominium/commercial tower. Addi- tionally they were the on -site construction manager throughout the en- tire project, leading weekly subcontractor meetings and regular QAC meetings. Element Hotel 314 S Clinton St Iowa City, IA 52240 Client: Kinseth Hospitality Westin —Marriott 170,000 square feet Architectural Design: Neumann Monson Project Manager: Weston Hodge Andy Hodge Referral contact: Les Kinseth 641 •-210-9063 Ikinseth@k*inseth.com THE ELEMENT HOTEL & EDGE CONDOS SLINGSH0TAPCHITECTUPE.00M PAGE 14 OF 77 PROJECT PROFILE 1% � Description of project and services: Comprised of 3 interconnected buildings, Oaknoll East is an Active Lifecare community for retirement aged residents. The project in- cludes 60 units, a full service kitchen and bar area, community room, wellness studio, heated covered parking with car and dog wash sta- tions and underground pedestrian walkway. The campus is a sprawling wooded lot with (3) 3-story buildings and outdoor common area gathering spaces. Two buildings are connect- ed by a shared common room and the third is connected by under- ground walkway. All three buildings are stick -frame with LP Diamond Kate and wood siding, private balconies with composite decking and retractable insect screens. Hodge Construction was involved from the initial design phase through delivering a quality product under budget. Oaknoll East Active Lifecare Community 2640 N Scott Blvd Iowa City, IA 52245 Client: Oaknoll Retirement Residence Size: 134,292 SF in total Architectural Design: Shive Hattery Project Manager: Andy Hodge Referral contact: Steve Roe Director 319-351-6772 sroe@oaknoll.com OAKNOLL EAST SLINGSHOTARCHIT ECTURE.COA PAGE 15 OF -- PROJECT PROFILE ❑escription of project and services: ❑ur second healthcare clinic for the University of Iowa Hospitals and Clinics is their Scott Blvd location. The building contains 30 exam rooms, a radiology room, support offices, and more. Throughout the center of the building there are three clerestories, providing great natural light for the team work areas. The expansive exterior is com- posed of masonry, metal tiles, fiber reinforced siding, with inviting glulam canopies at the entrances. Hodge Construction enjoyed collaborating with the University teams throughout the initial planning an construction process including weekly QAC meetings and were pleased to deliver a product that met UIHC's exacting standards. UIHC Scott Blvd Clinic 3640 Middlebury Rd Iowa City, IA 52245 University of Iowa Hospitals and Clinics Capital Manage- ment Architectural Design. Invision Architecture Project Manager: Andy Hodge Referral contact: David Kieft Director University Business and Real Estate (319) 335-5052 David-kieft@uiowa.edu UIHC SCOTT BLVD CLINIC SLINGSHOTARCHIT ECTURE.COA PAGE 16 OF 77 I PROJECT EXPERIENCE: SLINGSHOT ARCHITECTURE PULLBACK ............................................. MOMENTUM ................................................... EXPERTISE AND THE RIGHT CALCULATED DESIGN BURSTS TOOLS PROVIDE LEVERAGE WILL RESULT IN SWIFT VICTORIES VISION CONCEPT DESIGN DEFINE PROBLEM SIMPLE DIAGRAM COMPLIANCE CONTEXT PLACE VALUE BUDGET MATERIAL PERFORMANCE A slingshot won't do anything if you don't pull it back. We must know our client well before we pursue a design with them. We believe in our clients and they believe in us. This relationship, built upon knowledge and trust, infuses the design process with momentum that drives the entire team. We employ simple tools and intense passion to best solve projects with clarity and impact. IMPACT .................................. BIG CHALLENGES CREATE BOLD RESPONSES UILD /ATION :UTION :ANING Good buildings don't just happen. They are planned to look good and perform well, and come about when good architects and good clients join in thoughtful, cooperative effort. William Pena, Problem Seeking ART BLOC WATERLOO, IA I COMPLETED 2020 1 71,000 SF Merge Urban Development Group I Brent Dahlstrom I brent@mergeurbandevelopment.com VERTICAL MARKER IN URBAN SPACE SCULPTING FOR URBAN LIVING The form composition drives pedestrians to inquire and explore the elevated levels of the riverfront while marking the center point between existing art and learning public buildings in the district from every location on this side of the river. Built within the full constraints of the small urban infill site, the concrete stair tower anchors the sculpted form while the white "marble block" floats above the glass void public spaces of the building. Carving away of the block on the river sides creates opportunities for each individual resident to have a view down the river and over the plaza and trails. Orthogonal faces of the mass are articulated as an "unpolished" surface with varied color/texture/openings. The "carved" angular faces are pure white and vertically aligned representing faces that are crafted from the block to capture unique vantages of city. CRITICAL MASS VIBRANCY The transparent people spaces and vertical building form have created vibrant urban enclosure in the previously lonely elevated plaza while linking streetscape energy to the riverfront. Excitement within the community and belief in the outcomes of the previous urban planning have been reinvigorated as this piece of the puzzle has been crafted with layers of individual experience in mind. SLINGSH0TARCHITECTURE.00M PAGE 18 OF 77 ART BLOC WATERLOO, IA I COMPLETED 2020 1 71,000 SF Merge Urban Development Group I Brent Dahlstrom I brent@mergeurbandevelopment.com al SLINGSHOTARCHITECTURE.COM PAGE 19 OF 35 SURETY P'*'*DTEL DES MOINES, IA I COMPLETED 2020 1 138 ROOMS 1 $30 Million Aparium Hotel Group I Michael Kitchen I michael@aparium.com LIMITED ASKS FROM HISTORIC TAX CREDITS Opened in 1913, the Hippee Building was built to house The Iowa Loan & Trust Company. The 12-story Beaux-Arts Classicism style building -- more recently known as the Midland building -- was once Iowa's tallest skyscraper. Through the Surety Hotel project, the space was reimagined as a 138-room boutique hotel aptly named after a surety bond and paying homage to the building's origins. FRONT OF HOUSE DRIVES BACK OF HOUSE In addition to hotel rooms on its higher floors, the new hotel includes a restaurant on the ground floor to help draw in the public as well as event spaces with a 200-person ballroom. The design also leverages the forgotten courtyard space, which offers a unique outdoor space in the heart of the city for private events and restaurant functions. MT 0 SPECIFIC TO PLACE One of the core sources of inspiration for this project was its location and context in downtown Des Moines. Repurposing this historical steel high-rise restores the original beauty of its flat clay tile arch floors, masonry exterior, terra cotta walls, and brick with terra cotta detailing. Materials like marble, hand -applied artisan plaster, hardwood millwork, leather and gilded metals help tie the hotel's interiors to its rich history. SLINGSH0TARCHITECTURE.00M PAGE 20 OF 77 Ar "Mm. MACKSON CORNERS OSHKOSH, WI I COMPLETED 2023 174 UNITS 1 77,914 GSF I $14.8M Merge Urban Development Group I Joy Brenner I joy@mergeurbandevelopment.com PROMOTES HEALTHY COMMUNITY This mixed used project puts a walkable, urban lifestyle front and center while connecting separate areas of Oshkosh. The site's river -facing fitness center and walk-up residential units connect the building to the surrounding neighborhood, encouraging pedestrians to flow through the site to the river. There is also ample space for gathering as well as storage for recreational equipment to promote an active lifestyle for tenants. SENSE OF PERMANENCE AND PRIDE The project draws inspiration from the site's industrial history and the sculptural geological forms of the Niagara escarpment. Materials selected for this site will be timeless, durable, and maintain their quality throughout the seasonal extremes experienced in Oshkosh. Social space at the site is carved out between "rock forms," creating a "valley" that provides prospect and refuge for the public. a CONNECTION TO THE RIVER Mackson Corner's design creates an architectural dialogue between floating and being anchored. The building's orientation to the river reinforces the existing public space and draws inspiration from the area's historic wood mills and warehouses that lined the river. SLINGSHOTARCHITECTURE.COA PAGE 22 OF 77 MACKSON CORNERS OSHKOSH, WI I COMPLETED 2023 174 UNITS 1 77,914 GSF I $14.8M Merge Urban Development Group I Joy Brenner I joy@mergeurbandevelopment.com SLINGSHOTARCHITECTURE. COM PAGE 23 OF 35 L VEL DES MOINES, IA I COMPLETED 2023 1 14 ACRE MASTER PLAN 1 114 UNITS 1166,514 GSF I $23.4M Hubbell Realty Company, Reynolds Urban Design I Matt Weller I matt.weller@hubbellrealty.com FORM The site is defined by its proximity to the Des Moines River and its expansive views of downtown Des Moines. The Iowa limestone bluff is a natural occurrence along the river, which the design of the base of the building emulates. Interstate 235 to the north creates a high amount of exposure to noise, but the design of the building shelters the exterior communal spaces and protects the interior occupants by reducing the amount of sound transmittance. CHARACTER The concrete base is defined by inspiration from the neighboring bluffs, the white mass by its "infill" language, and the black mass by its "dwell" language. Although each is unique, they relate to create a singular form. The base form ends at the same height as the adjacent townhomes, creating a direct relationship between the buildings. In addition, by placing the building at the terminus of 2nd Street, Level creates a visual cap to the neighborhood. VIBRANCY The building design relates to the site design of the Bridge District Neighborhood. The defined edge of Level reinforces the green belts within Bridge District that guides pedestrians towards the river walk. The large exterior deck will create a vibrant communal space that will feel as if it's floating over the Des Moines River. It will also catch the eye of anyone driving past on 1-235 or across the river in downtown Des Moines SLINGSHOTARCHITECTURE.COA PAGE 24 OF 77 FINANCIAL CENTER DES MOINES, IA I UNDER CONSTRUCTION 1 218 UNITS (Floors 1-18) 1 $50M LawMark Capital I Mark Buleziuk I mark@s2d.com RESIDENTIAL INSERTION Existing building has an ideal and flexible structure for residential insertion within historically office floor plates compared to other buildings downtown. High density of residential apartments desired to return these floors to profitability in a post-COVID office rental market. The Des Moines downtown market has a high demand for market rate housing and minimal supply coming onto the market, making a large scale adaptive -reuse development attractive and viable. HISTORIC ADAPTATION Expertly build off of and wisely address the existing building's character defining elements by understanding the historic tax credit requirements, while adapting the use of the building for current needs. Blending the previous International Style design and character defining features into high end residential apartments will be challenging but achievable. Fresh air/ operable windows, warm materials and high ceilings within apartments should be provided to achieve an expected high end and comfortable living space for residents EXTEND HIGH END EXPERIENCE Inserting residential uses on the first 18 floors must not reduce the existing perception for current commercial tenants but rather extend the high end amenities offered for all building tenants. The design character of residential spaces must also match the lux history of the existing building, reimagining how International Style can creatively be adapted for residential comfort while still feeling high end. All -tenant resort -like amenity spaces, security, janitorial, heated underground parking and residential specific spaces should work in tandem/overlap as allowed or be separated as needed to solve the sometimes conflicting uses. SLINGSHOTARCHITECTURE. COM PAGE 25 OF 77 FINANCIAL CENTER DES MOINES, IA I UNDER CONSTRUCTION 1 218 UNITS (Floors 1-18) 1 $50M LawMark Capital I Mark Buleziuk I mark@s2d.com VERSIFY 30GRAM Financial Center's international style character became the backdrop for a massive increase in program types. Large, open floor plates allowed for units to fill in for unused office space. Lower floors became the most varied in program, with resident amenities existing alongside resident amenities. skywalk infrastructure, firs) floor retail and utilities. The new programmatic diversity ensures a variety of possible Incomes for the client. SLINGSHOTARCHITECTURE. COA PAGE 26 OF 77 ANDANTE EAU CLAIRE, WI I COMPLETED 2021176 UNITS 189,463 GSF I $15.9M Merge Urban Development Group I Joy Brenner I joy@mergeurbandevelopment.com V r ANDANTE / "A MODERATELY CAESURA / "A SHORT PAUSE PACED WALKING TEMPD" IN VERSE OR SONG" The community of Eau Claire contains a strong art and music scene, with many music and art festivals hosted each year. With musical inspiration, the architecture of this residential project in Eau Claire, Wisconsin, encourages a rich tapestry of pedestrian use around the perimeter of the building at a tempo that stimulates interest and engagement. Fronting the Eau Claire River, the site is two blocks from the confluence with the Chippewa River with direct access to the 31-mile Chippewa River State Trail. In musical notation, a caesura is marked by double oblique lines, commonly called railroad tracks, or train tracks. The consistent rhythm of the architecture is highlighted by breaks in the massing to highlight entries and points of social connection. The design encourages the continuation of mixed use commercial along N. Barstow St. and N. Farwell to reinforce the area's urban fabric and reimagine the site's former use as a railroad depot. The new pedestrian promenade will be activated by tightly spaced micro -retail storefronts, allowing local entrepreneurs to open shop with minimal initial investment. CLEAR VISION The community -wide planning process Clear Vision involved a group of several hundred residents of Eau Claire coming together to tackle everything from quality of life to transportation, which spawned the Pablo Center at the Confluence, a world class performing arts center. The architecture of this development is likewise responsive to the needs of the community and strives for clarity of design. SLINGSH0TARCHITECTURE.00M PAGE 27 OF 77 ANDANTE EAU CLAIRE, WI I COMPLETED 2021176 UNITS 189,463 GSF I $15.9M Merge Urban Development Group I Joy Brenner I joy@mergeurbandevelopment.com _9� SLINGSHOTARCHITECTURE.COM PAGE 28 OF 35 'LLD DAY BREWERY NORTH LIBERTY, IA I COMPLETED 2023 1 19,454 SF Field Day Brewing Company I Joe Selix I joe.selix@gmail.com DESTINATION BREWERY Field Day is a gathering space for the full community, designed with specific groups in mind. The brewery highlights high -quality beer in an inviting and unique taproom that encourages people to stick around and have another beer. The space also draws concerts and regional events, with ample space for larger crowds. UNDER ONE ROOF An expressive roof canopy unifies the disparate programmatic elements and encourages communal coming together with space for beer aficionados and moms with kids in tow. The location's proximity to the regional bike trail will make it an easy stop for thirsty cyclists. The decor is casual and family friendly, with interactive play areas and simple, economical forms. BOTANICAL VIBES The design maximizes the indoor/outdoor connection with plenty of natural light and plants. Large doors open out to an expansive patio with shade for afternoon events and a stage for concerts. SLINGSH0TARCHITECTURE.00M PAGE 29 OF 77 I PROJECT EXPERIENCE: IMEG 100 VANDAM STREET HUDSON SQUARE NEW LUXURY RESIDENTIAL BUILDING LEER Golr. [MEG provided mechanical, electrical, and plumbing engineering design services, along with energy modeling, for the new 207,000-sf, 25-story residential building with 72 condominium units, cellar parking, residential lobby, and restaurant on the ground floor. The unique building was constructed above two existing five -story structures --- a 1.4,700-sf commercial building and a 40,000-sf office building. The smaller building has 42.495-sf of unused air rights, while the latter has 23.550-sf of unused air rights. The new tower rises atop the existing structures with the old facades kept intact. Energy efficient designs include a chilled waterlcondenser water system, as well as advanced control strategies for variable speed drives on the outside air that is tied into the exhaust systems. These designs help keep energy usage down while maintaining proper ventilation and pressurization in the units. SIZE 207,000-sf new COMPLETION 2022 SERVICES Mechanical, Electrical, Plumbing, Energy Modeling New YORK, NY SLINGSHOTARCHITECTURE.COM PAGE 31 OF 77 CEIRMAK & WABASH ASPIRE RESIDENCES NEW MIXED -USE DEVELOPMENT LEER SiiveE [MEG provided mechanical, electrical, plumbing, and fire protection engineering design services, along with energy modeling and construction administration, for the new mixed - use development at the corner of Cermak Road and Wabash Avenue in Chicago. Part of the newly emerging McCormick Place Entertainment ❑istrict. the project sits just one half block from the new Cermak Green Line commuter station. The 308,000-sf project is certified LEED Silver and includes ground -level retail, two levels of elevated parking, and a residential apartment tower. The 25-story, 275-unit apartment tower is stacked on top of a fourth -level podium that serves as a common rooftop "sky lobby" amenity with outdoor decks and a swimming pool for residential tenants. MEP systems include a water -source heat pump approach with dedicated outdoor air systems, energy recovery, and high efficiency condensing boilers. The project also includes 10 affordable housing units and contributes to the city's affordable housing fund. SIZE 308.000-sf New COST $50 million COMPLETION 2020 SERVICES Mechanical, Electrical, Plumbing, Fire Protection, Energy Modeling, Construction Administration CHICAGO, I L SLINGSHOTARCHITECTURE.COM PAGE 32 OF 77 4j AvALON GOVERNOR'S PARK RESIDENTIAL BUILDING NEW 13-STORY HIGH RISE Pursuing LLI-D Golc IMEG is providing structural, mechanical, electrical, plumbing, and fire protection engineering design services for the new 13-story high-rise residential building in Governor's Park. The building includes 304 residential units, common living, and fitness areas. There are two levels of below grade parking, two levels of above grade parking and 11 levels of residential units. . To enhance the energy performance of the building, which is pursuing L E E D Gold certification, IMEG engineered a variable refrigerant heat pump system along with a dedicated outside air system for optimum energy performance. SIZE 417,750-sf New COST $94 million COMPLETION 2023 SERVICES Structural, Mechanical, Electrical, Plumbing Fire Protection DENVER, CO SLINGSH0TARCHITECTURE.00M PAGE 33 OF 77 SILLIAAAN GROUP LLC 5248 S. CORNELL AVE. NEW MIXE❑-USE HIGH-RISE TOWER Two u+een 0iooes CertIhea [MEG provided mechanical, electrical, plumbing, and acoustical engineering design and services for a new, 26-story, high-rise tower in Hyde Park. The mixed -use tower includes 246 apartments, a parking structure accommodating 173 cars, and approximately 10,000-sf of ground -level retail space. Engineers prepared a design narrative report and drawings (including floor plans, riser diagrams, and schedules), provided peer reviews, and held design review meetings with the project team. IMEG also developed and maintained an energy model for both Green Globes certification and energy code compliance that was used when evaluating building envelope construction decisions. The building's sustainable features include: • HVAC energy recovery via domestic hot water preheat • Variable speed toilet/dryer exhaust and associated makeup air • Low -flow plumbing fixtures • Condensing heating boilers and hot water heaters • Water-cooled HVAC equipment throughout the building • Heat pumps with ECM fan motors IMEG worked closely with the owner and architect to meet the Green Globes requirements while staying within the project budget. The design is predicted to perform 15 percent better than the IECC 2015 (ASH RAE 2013 EC modeling compliance) in energy savings and 30 percent better in water savings. HYDE PARK, I L Size 342,600-sf New COST $75 million COMPLETION 2019 SERVICES Mechanical, Electrical, Plumbing, Acoustics i e�jd(-wiq roe.+rtesy o1 5olnrnon Cordw•ell 8uenr SLINGSHOTARCHITECTURE.COM PAGE 34 OF 77 <1 921 HOWARD AFFORDABLE HOUSING COMMUNITY NEW DEVELOPMENT WITH SUSTAINABLE DESIGN I IMEG provided structural engineering design services for 921 Howard, a new 205,000-sf 100% affordable housing development for people with low to moderate incomes in San Francisco. Located in the South of Market (SoMa) neighborhood district on 5th & Howard Streets, the 18-story 200-ft tall residential building project utilizes Type IA construction and offers a mix of studios, one-, two- and three -bedroom units totaling 203 residences. The building also includes mixed -use amenities centering on tenant needs, including two community rooms, an outdoor terrace, indoor bicycle parking, and a community serving ground -floor space- Tenants will have a built-in support network to help them adjust to their new home, feel welcome, and remain stably housed - The project will pursue a GreenPoi nt Rated (GPR) certification and contractors involved in construction will focus on local, BIPOC- owned or women -owned businesses - SIZE 205,000-sf new COST $70 million COMPLETION 2023 SERVICES Structural SAN FRANCISCO, CA , 0 %%� "�4�eIram SLINGSH0TARCHITECTURE.00M PAGE 35 OF 77 JESSUP HOUSE 723 SOUTH 12TH STREET URBAN MIXED -USE RESIDENTIAL DEVELOPMENT IMEG provided structural engineering design and parking consulting services for 12 + Sansom, a 445,000-sf, 20-story new mixed -use residential development in Center City Philadelphia. The tower features 399 residential units, 11,300 sf of ground floor commercial space, two roof decks and a 50,000-sf, two -level underground parking garage for 94 cars. The structural system is cast -in -place concrete two-way flat plate with cast -in -place concrete shear walls and a mix of spread footing and mat foundations. The project has five cast -in - place concrete transfer girders at level 3 to allow the tower column grid to transition to the column grid required for the underground parking. PHILADELPHIA, PA SIZE 20 stories 445,000-sf COST $133 million COMPLETION 2023 SERVICES Structural, Parking Consulting SLINGSH0TARCHITECTURE.00M PAGE 36 OF 77 HIGH-RISE RESIDENTIAL AND MIXED USE (20+STORIES CALIFORNIA GEORGIA 1 POLK ST., SAN FRANCISCO • 276,000-sf, New 20-story Mixed -use Development, Including Residential Apartments, Retail, and Parking 15TH STREET & ISLAND AVENUE TOWER, SAN DIEGO • 1,000,000-sf New 46-Story Residential Towers 30 OTIS ST, SAN FRANCISCO • 434,000-sf, New 26-story Mixed -use Tower, Including a Ballet School, Retail, Garage, and 148 Apartments, LEER Gold 854 CYPRESS STREET NE, ATLANTA • 592.780-sf New 37-story Residential High -Rise ILLINOIS 1000 S. CLARK LLC, CHICAGO • 444,963-sf, 29-story New Residential High -Rise, Including Fitness Center, Theatre, Demonstration Kitchen, Pool and Spa, and 300- car Parking Garage 100 VAN Ness, SAN FRANCISCO 1353 PARTNERS LLC, CHICAGO •400,000-sf, New 28-story Mixed -use Tower Including Retail Space,-416,24I-sf New 29-story Residential High Rise. Including Retail Parking Garage, and 399 Residential Apartments, LEER Gold and Amenity Spaces 150 SOUTH 2ND ST., SAN DOSE •350,600-sf, New 24-story Mixed -use Development, Including 393 Residential Units, Retail Space, Restaurant, and Parking Garage 170 PARK AVENUE PLAZA, SAN JOSE • 470,000-sf, New 24-story 265-ft Tall Mixed -use Residential Tower with Retail Space and Parking Garage 171 POST STREET, SAN JOSE • 340,000-sf, New 20-story Mixed -use Residential Tower featuring 203 Residential Units with Retail Space and Parking Garage 717 OLYMPIC AT FIGUEROA, Los ANGELES • 333,000-sf, New 26-Story Mixed -use Residential Development, Including 151 Apartments, Retail Space, and Parking Garage THE BLOC, Los ANGELES • 2,400,000-sf, 23-story New Hotel and Mixed -use Renovation and Expansion, LEED Gold and Pursuing WELL Certification 16Q0 EAST 53RD STREET, HYDE PARK • 342,600-sf New 26-story Mixed -use High -Rise Tower 5248 S. CORN ELL AVENUE, HYDE PARK • 342,600-sf, New Mixed -use, 26-story High -Rise, Two Green Globes CERMAK & WABASH, CHICAGO • 308,000-sf Aspire Residences Mixed -use Development, Including 25-story Apartment Tower over Four-story Podium with Retail, Amenities and Parking, LEED Silver DANA HOTEL, CHICAGO • New 26-story Rooms (179-Rooms) HOTEL ESSEX AND ESSEX ON THE PARK, CHICAGO • 574,550-sf (254 Room) Hotel Renovation and 55-story New Residential Tower, L E E D Silver and WELL Silver Certified SILLIMAN GROUP LLC, CHICAGO • 5248 S. Cornell Avenue 342,600-sf New Mixed -Use, 26-Story SLINGSH0TARCHITECTURE.00M PAGE 37 OF 77 HIGH-RISE RESIDENTIAL AND MIXED USE (20+ STORIES) High - Rise Tower, Two Green Globes 1600 East 53rd Street 342,600-sf New Mixed -use, 27-story High - Rise Tower II►101fnV►a► CONRAD HOTEL, INDIANAPOLIS •390.310-sf New 23-story Hotel, including Residential Units KEYSTONE REALTY GROUP, INDIANAPOLIS • 555,453-sf, 20-Story High -Rise Office Building Adaptive Reuse to Mixed -Use Multi -Family Space MASSAC H U S ETTS WINTHROP CENTER, BOSTON • 1.8M-sf New 62-story Mixed -use Tower with Class A Office Space and 317 Luxury Condominiums, Pursuing LEER Platinum and Passive House 0:471WOMKI 100 VAN DAM STREET, NEW YORK • 207,000-sf New 25-story Condominium Building Constructed above Two Existing Five -story Structures, LEER Gold NORTH CAROLINA 1601 SOUTH BOULEVARD, CHARLOTTE • 516,400-gsf, 30-story Tower Containing 21 Stories of Residential atop Six Levels of Parking with Parking, Lobby, Mechanical, and Storage on Ground Floor, Pursuing Green Globes Certification 11r4.ul&S.-144 CONFIDENTIAL PROJECT, MEMPHIS • 478 590-sf 27-story Tower Containing 20 Stories of Residential (280 Units) above Six Levels of Above -grade Parking, One Ground Level of Retail, and Two Levels of BeIow-grade Parking LG DEVELOPMENT GROUP, NASHVILLE • 548,571-sf New 20-story 1711 Broadway High -Rise Residential Building TEXAS 500 S. ERVAY ST., DALLAS • 11.000.000-sf 50-story New Residential Towers 1600 PACIFIC, DALLAS • Renovation of 33-story Historic LTV Tower Including Residential, Hotel and Ground Level Retail AMLI FOUNTAIN PLACE, DALLAS •45-story Residential Tower, Plus Six -story Iconic Pinnacle Totaling 51 Stories; 584' Tall; 620,000-sf, 35-story Residential Tower atop Amenity/Pool Deck Level Over 240,000-sf, Eight Levels of Parking (550 Cars) BHP PETROLEUM, HOUSTON • 800,000-sf 30-story High Rise, Class A Office Space, LEER Platinum CONVEXITY, DALLAS • 355,996-sf, 26-story High -Rise Tower (320 Units), 217-Car Parking Structure, and Shell & Core Retail Space UTAH THE DOMAIN COMPANIES, SALT LAKE CITY • 520,548-sf, 27-story Multifamily Residential Tower (350 Units), Two Floors of Office Space, 5,500-sf Care and Shell Retail Area, Outdoor Pool and Fire -level Parking Garage (294 Cars) Utah THE DOMAIN COMPANIES, SALT LAKE CITY • 520,548-sf, 27-story Multifamily Residential Tower (350 Units), Two Floors of Office Space, 5,500-sf Core and Shell Retail Area, Outdoor Pool and Five -level Parking Garage (294 Cars) VIRGINIA CONFIDENTIAL MIXED -USE CAMPUS, TYSONS CORNER • 463,580-gsf, 23-story Mixed -use Towe r; 16 1,000 -g sf, 15 -story Office Tower; 8,000-gsf, Three-story Demonstration Building; and Landscaped Plaza; all Supported on 325,000-gsf, Five -level, Below - grade Parking Structure MAxIMus, RESTON • 1,248,300-sf, Consisting of a 27-story Residential Tower and an 11-story Office Tower atop a Six -level Podium with Retail and Parking SCOTTS RUN BUILDING C, MCLEAN • 26-story Residential Tower with Retail Supported on a Five -story Podium with Two Levels Below Grade and Three Levels Above Grade, Pursuing LEED Gold Certification SLINGSH0TARCHITECTURE.00M PAGE 38 OF 77 IMEG PcojECr HIGHLIGHTS AFFORDABLE AND INCOME RESTRICTED HOUSING EXPERIENCE " Jew i, CALIFORNIA DESERT MEADOWS FAMILY HOUSING, INDIO • New 80-Unit Affordable Living Apartment Complex, L E E D Gold COLORADO BRANDON FLATS COURTYARD, DENVER • Denver Mayors Award 2021 • Volunteers of America •CHFA 4% and State 2017. 104 Units CADENCE DEVELOPMENT, FORT COLLINS • Volunteers of America- Senior Living • CHFA Competitive 9% 2020. Senior 53 Units SENIOR RESIDENCES ATTHREE 5PRINGS, DURANGO •Vol unteers of America - Senior Living • CHFA Competitive 9% 2018, Senior 55 Units THEODORA FAMILY HOTEL 4885 W COLFAx AVE, DENVER Volunteers of America • Denver's HOST program and DOH shelter funding 60 Units SAGE CORNER, LAKEWOOD • Metro West Housing Solution • CHFA Competitive 9% 2018 43 Units LAMAR STATION CROSSING PHASE 1 AND 2, LAKEWOOD • Metro West Housing Solutions • CHFA Competitive 9% 2012 and 2020,110+ 65 Units SUN VALLEY — THRIVE, DENVER • Denver Housing Authority • CHFA Non -Competitive 4% 2021,105 Units SUN VALLEY- JOLI I SOL BLOCK, DENVER • Denver Housing Authority • "CHFA" CHAFA Nan -Competitive 4% 2021,130 Units RHONDA'S PLACE, DENVER • Bluel-ine Development • CHFA Non -Competitive 4%, State LIHTC 2018, 50 Units VALOR ON THE FAX BRAIN INJURY ALLIANCE, DENVER • Brothers Redevelopment •CHFA Competitive 9%, 2020, 34 Units LAUREL HOUSE, GRAND JUNCTION • Karis Inc., Grand Junction • CHFA -- PSH _ CHFA - Competitive 9%, 2020, 72 Units ST. VALENTINE APARTMENTS, LOVELAND • CHFA Competitive 9%, 2018 72 Units OVERLOOK AT POWERS PARK, POWER & ELATI, LITTLETON • South Metro Housing Options • CHFA Competitive 9% 2021, 51 Units BLUEBIRD, BOULDER • CHFA 4%, State LIHTC 2021, 40 units ESPERO APARTMENTS, DURANGO BiuLine Development • CHFA Competitive 9% 2019. 40 Units VIVA APARTMENTS, 48TH AND RACE, DENVER •Columbia Ventures • CHFA Non -Competitive 4%, State LIHTC 2 019, 150 Units EDGE PHASE i AND 2 AND 3, LOVELAND • Loveland Housing Authority • CHFA 4% and State 2015, 2019, 2023, 70+69+66 Units SLINGSH0TARCHITECTURE.00A PAGE 39 OF 77 IMEG PROJECT HIGHLIGHTS AFFORDABLE AND INCOME RESTRICTED HOUSING EXPERIENCE APEX I AND 11, ENGLEWOOD -CHFA Non -Competitive 4%, 2018, 2020, Units 156+208 BURLINGAME ASPEN AFFORDABLE HOUSING, ASPEN • 34 Units ATLANTIS APARTMENTS, DENVER •CHFA Competitive 9%, 2019, 60 Units JOURNEY HOME, CANON CITY • Loaves & Fishes Ministries • CHFA Competitive 9%, 2018, 30 Units VILLAGE ON HORSETOOTH, FORT COLLINS • Housing Catalyst • CHFA Non -Corn petit ive 4%, State LIHTC, CDBG DR, 2016. 96 Units REDWOOD APARTMENTS, LOVELAND • Housing Catalyst • CHFA Non -Competitive 4%, 2015, 72 Units 1600 NEWTON, DENVER CHFA Non -Competitive 4%, 2021157 Units MOTH E RSH I P, 1630 S. ACOMA ST., DENVER • Urban Peak • Denver HOST program, New Market Tax Credits, federal funds, 136 Beds in 51 room ELEMENT PROPERTIESI244530TH STREET, BOULDER •CHAFA Non -Corn petit ive 4% 2021, 40 Units SOUTH FEDERAL SENIOR HOUSING ARCHDIOCESE, DENVER • CHFA 4%, State LIHTC, 202160 Senior Units SAINT FRAN CIS CENTER APT, 221 FEDERAL BLVD, DENVER • Senior Living • CHAFA Non -Competitive 4% 2022. 60 Units THE IVESI4470 WADSWORTH BLVD. WHEAT RIDGE • CHFA Competitive 9% 2022. 50 Units THE MEADOWS AFFORDABLE SENIOR HOUSING, CASTLE ROCK • Ulysses Dev. Senior Living • CHFA Non -Competitive 4%, 2023 200 Senior Units ZINNAI2000 SUNSET WAY, LONGMONT • Element Properties 1 Longmont Housing Authority • CHFA Competitive 9% 2022, 55 Units 1671 ALTURA APARTMENTS, AURORA Columbia Ventures • CHFA Non -Competitive 4% 2022, 68 Units PUWAGAAN KAAN-CORTEZ • BlueLine Development 1 Pinon Project • CHFA Competitive 9% 2022, 42 Units BRUSH VILLAGE 111MILL ST& BOXER ST, BRUSH • Northpointe Development • CHFA Competitive 9% 2022. 45 Units FAMILY TREE 15549 MARSHALL STREET, ARVADA • BlueLine Development 1 Jefferson Center 1 Family Tree • CHFA Nan -Competitive 4% 2022 68 Units RESIDENCES AT ACOMA - SECOND CHANCE CENTER, 1501 S ACOMA STREET, DENVER • BlueLine Development • CHFA Non -Competitive 4% 128 units HARVEST HILLS, BROOMFIELD • Ulysses Dev. • Funding TBD, Units 152 MENOLA HOMES, 1465-1497 KNOX CT, DENVER • GAD Homes Partners • FundingTBD FITZSIMONS GATEWAY, AURORA • CHFA Non -Competitive 4% 2022,210 units PANCRATIA HALL, DENVER • CHFA Non -Competitive 4% 2019, 68 Units THE HIGHLANDS, GRAND JUNCTION • CHFA Competitive 9% 2015, 64 Units ELEVATE AT AURORA, AURORA • CHFA INon-Competitive 4% 2022.137 Units MARSHALL HOMES, ARVADA • Blueline Development • CHFA Non -Competitive 4% 2022. 85 Units LAUNCHPAD APARTMENTS, COLORADO SPRINGS • CHFA Competitive 9% 2022, 50 Units LEE HILL, BOULDER Boulder Housing Partners CHFA Competitive 9% 2012,31 Units IMEG PROJECr HIGHLIGHTS AFFORDABLE AND INCOME RESTRICTED HOUSING EXPERIENCE BRECKENRIDGE GRAND VACATIONS, BRECKENRIDGE 2000 SUNSET WAY, SUNSET HEIGHTS APARTMENTS, • Gondola Lot/East Peak 81Lodge LONGMONT • Affordable housing, workforce housing, town homes ndominiums, • 39,500-sf affordable housing apartment building hotel and indoor water park, outdoor water park THE MEADOWS AFFORDABLE SENIOR HOUSING, ULYSSES CITY OF ASPEN, POLICE DEPARTMENT AND AFFORDABLE HOUSING COMPLEX, ASPEN 1.8.515-sf New -LED Silver and WELL Silve: STANLEY 98, HOUSING AUTHORITY OF THE CITY OF AURORA, AURORA • 61,000-sf, four-story affordable senior and family housing building • 75 units, leasing office, amenity spaces, storage, maintenance, and utility spaces. CROSSING POINTE SOUTH, MAIKER HOUSING PARTNERS, THORNTON • Two, 4 Story Affordable Senior and Family Housing Buildings to an Existing Senior and Family Housing Site • Bldg. 02: 74 apartment units with a common meeting space and offices • Bldg. # 3: 68 apartment units UPLANDS MAIKER UPLANDS, MAIKER HOUSING PARTNERS, WESTMINSTER • New affordable senior and family housing buildings, 70 apartment units with a common meeting space and offices 8600 DAKOTA SENIOR AFFORDABLE HOUSING METRO WEST HOUSING SOLUTIONS, DENVER • New 4-story, 50-60 unit affordable senior housing development, 65.000 G5F 4TH STREET NEW NORTH PARKING AND WORKFORCE HOUSING, MW HUDSON LLC, SILVERTHORNE • Housing, Gas, Electrical Loads Study FEDERAL & W. VASSAR SOUTH, FEDERAL SENIOR HOUSING ARCHDIOCESE, DENVER • Archdiocese affordable senior housing project DEVELOPMENT GROUP, CASTLE ROCK • Affordable senior housing THE CULLIVAN APARTMENTS, MONTVIEW FLATS, LITTLETON • Affordable housing -apartment complex RECOVERYWORKS-CNA, SHOPWORKS ARCHITECTURE, LAKEWOOD • New affordable housing study CENTRAL PARK RTD, ULYSSES DEVELOPMENT GROUP, DENVER Affordable Housing Development, multi -phased, multi-buiIdIng • 30,000-sf central landscaped common space with communal amenities (childcare facility, outdoor green space and adjacent playgrounds •900 residential homes, four buildings 1600 NEWTON APARTMENTS, ZOCALO DEVELOPMENT, DENVER • 4-story, 118,000-sf affordable housing ASPEN HEALTH CLUB RENOVATION AND TOWNHOMES, ASPEN • A major renovation to add 20 free market units and 12 affordable housing units to remodel the entire existing club of 195,000-sf. BASE 1 73o E. COOPER AVE HOTEL, ASPEN • New small affordable hotel CATHEDRAL TOWNHOUSE RENOVATION, JACKSONVILLE • Renovation of 19-story Affordable Senior Living Facility SILVER CREEK APARTMENTS, MIAMI • 107,000-sf Seven -story, 90-unit Mixed -use Affordable Housing Development with 4,000-sf Retail Build -out ILLINOIS CHICAGO HOUSING AUTHORITY, CHICAGO • 220,800-sf Altgeld Gardens Public Housing Renovation (multiple phases) • 215,000-sf Altgeld Gardens Public Housing Renovation - Blocks 7 and 8 • 99,500-sf Flannery Building 2 Renovation • 83,000-sf Adaptive Reuse of Elementary School to Administrative Offices and 14 Residential Units • 12,800-sf Abla Community Center Renovation •Altgeld Murray Laundry Buildings Renovations SLINGSH0TARCHITECTURE.00A PAGE 41 OF 77 IMEG PcojECr HIGHLIGHTS AFFORDABLE AND INCOME RESTRICTED HOUSING EXPERIENCE • Bldg 3120 and 3250 Wentworth Floor Slab Replacement TOWN OF BABYLON, WYANDANCH • Castleman Apartment Renovation • Wyandanch Village New Mixed -use and Mixed -income Apartment • Stateway Gardens B4 Renovations Development MERCY HOUSING, KANKAKEE •60,000-sf New Low -Income Senior Housing THE NEW BROADVIEW, EAST ST. Louis • Renovation of a Historic Seven -story Hotel to Create 110 Unit Affordable Housing Complex for Seniors and Veterans, Includes Retail Space and Community Business Incubator Space IL0�1 LAFAYETTE SQUARE, DAVENPORT •49-unit Income -based Housing MASSACHUSETTS CASCAP, INC, CAMBRIDGE • VFW Conversion to Affordable Housing, Nine Units ELDERLY HOUSING, DANVERS, PEABODY, SALEM, BEVERLY • Preservation of Affordable Housing (POAH) FALL RIVER HOUSING AUTHORITY, FALL RIVER • Ma pie Garden Affordable Housing Window and Siding Replacement MARYLAND TEXAS ATMOS LOFTS PHASE 2, DALLAS • Renovation of Three Office Towers into Parking Structure, 1st - floor Retail, and 12-and 13-story Affordable Housing Apartments VIRGINIA HIGHPOI NTE AT HAYMARKET • 10 Buildings of Apartments with 240 Affordable Units LINDSAY HILL SENIOR APARTMENTS, LORTON • 55 Affordable One or Two Bedroom Senior Units MT. STERLING, STERLING • Multifamily and Single -Family Residential Community with 98 Affordable Age -restricted Units,144 Multifamily Units, and 74 Single -Family Attached Units NORTH HILL, ALEXANDRIA • Mixed -income Development with 279 Affordable Units Spread Across Five Four-story Buildings, 63 Dedicated to Affordable Independent Senior Living OAKWOOD MEADOW SENIOR RESIDENCES, ALEXANDRIA • New 150-unit Affordable Senior Living SANDY SPRING VILLAGE, SANDY SPRING PARK LANDING, WOODBRIDGE • 56 Affordable Active Adult Units Consisting of One -bedroom and • 250 Affordable Units for Active adults 55+ Including 151 Two - Two -bedroom Apartments bedroom and 99 One -bedroom Apartments fAT H 121*10]1_1 ASHLAND PLACE, ROCHESTER •Three-story, 48-unit Income -based Housing FOREST OAK, FOREST LAKE •Three-story, 36-unit Income -Based Housing Phase II THE MEADOWS, ROCHESTER -Three-story. 54-units Income -based Housing SABATHANI COMMUNITY CENTER, MINNEAPOLIS • 5,000-sf Club House Renovation • 50-unit Affordable Senior Housing NEW YORK BREAKING GROUND, NEW YORK • 14-story The Prince George Historic Hotel Restoration into Affordable Apartments THE STATION AT POTOMAC YARD, ALEXANDRIA • New 21,953-sf Fire Station with 44 Affordable Housing Units THE THORNTON, ALEXANDRIA • 443 Residential Units with 24 Affordable Units TUSCARORA CROSSING, LEESBURG • 6.2-acre Residential Community with 234 Affordable Units WASHINGTON BRIDGE HOUSING NORTH GATE, SEATTLE • New Seven -story, 232-Unit Affordable Housing Complex with 10,000-sf Daycare Center near the Northgate Transit Hub. pursuing ESDS CEDAR CROSSING, SEATTLE • New Eight -story, 254-Unit Affordable Housing and Transit - Oriented development CITY CENTER, LYNNWOOD • Five -story, 347-Unit Affordable Housing Apartment SLINGSH0TARCHITECTURE.00A PAGE 42 OF 77 AFFORDABLE AND INCOME RESTRICTED HOUSING EXPERIENCE CITY MARKET AT O • Abbey Lincoln Court, Six -story, 68-Unit Affordable Housing • Mixed -use Development with 90 Affordable Senior Units Apartment, ESDS Certified COCOON HOUSE, EVERT •Three-story, 40-Unit Affordable and Homless Youth Housing Complex, L E E D Silver Certified COMPASS ON DEXTER, SEATTLE • Six -story, 74-Unit Affordable and Low Income Housing CONNECTION ON BROADWAY, SEATTLE • Seven -story Limited Income Housing Complex GARDNER HOUSE, SEATTLE • Eight -Story, 95-Unit Affordable and Supportive Housing with 8,000-sf Family Resource Center THE JOHN AND J1LL KER CONWAY RESIDENCE • 87,000-sf 14-story Apartment Building with 124 Micro -studio Apartments. 60 Units of Permanent Supportive Housing for Homeless Veterans LOW INCOME HOUSING INSTITUTE Bellevue • August Wilson Place, Six -story, 57-Unit Affordable Housing Apartment with a Community Room mputer Lab, and 23 Below - Grade Parking Stalls Renton • June Leonard Place, Six -story. 48-Unit Affordable Housing Apartment with a Shared Kitchen, Lounge, and Meeting Space Seattle • An Lac, Six -story, 69-Unit Affordable Housing Apartment with 9,800-sf Commercial Space and 32-kW Rooftop Solar Array • Cheryl Chow Court, Six -story, 50-Unit Affordable Housing Apartment • Marion West, Four-story, 49-Unit Affordable and Homeless Youth Housing Apartment with 5,906-sf Commercial Space, ESDS Certified • The Tony Lee, New Six -story, 69-Unit Affordable Housing Apartment with 6,600-sf Commercial Space, ESDS Certified SCIDPDA NORTH LOT, SEATTLE • New Two -Building, Six -stories Affordable Housing Complex with Early -Learning Education and Elderly Support Services STATION HOUSE, SEATTLE • Seven -story, 110-Unit Affordable Housing Apartment THE RISE ON MADISON I BLAKE HOUSE, SEATTLE • New 1.7-story, 365-Unit Low Income Housing Apartment TERRACE MANOR • 130-unit Affordable Housing Building Includes 65-one Bedroom Apartments, 54-two Bedroom Apartments, and 11-three Bedroom Apartments. SLINGSH0TARCHITECTURE.00M PAGE 43 OF 77 I PROJECT EXPERIENCE: McCLURE GPOSSPOADS PLAZA MALL REDEVELOPMENT FORT DODGE, IOWA ---N - U fA/,400, � V r-7400 1 ibs Like many malls across the country, Fort Dodge's Crossroads Mall has seen diminishing interest from national retailers. Asa result, the City of Fort Dodge asked McClure's development management team to complete a redevelopment study to assess the feasibility of improving the 400,000+ square foot mail and surrounding area. Rather than merely conducting another study, our team developed an action plan and educated the City on how it could entice developers to the area by leveraging local incentive programs. Once the incentives were identified and developed ($18.2 million total), we procured a partnership with team to developers to invest in revitalizing the area. The redevelopment plan consists of the demolition of the mall to make way for 31 acres of new mixed -use development that includes retail, medical, multi -family housing, restaurants, and a hotel. The development will increase local tax revenue by approximately $2 million peryear. Our team is providing a range of services, including development management, development services, survey, environmental, traffic analysis, engineering design on all public and private infrastructure, development of the association and architectural standards, construction administration, project accounting, and public relations. This redevelopment project has allowed us to leverage our internal engineering resources to promote development opportunities that increase the ROI for all development partners. This developer -minded approach allows our team to focus on the key factors that impact a project's success: Cost, speed, precision, and resource coordination. YOUR VISION. ENGINEERED MERE. III0--Z McCLURE' SLINGSHOTARCHIT ECTURE.COA PAGE 45 OF 77 TRIANGLE SQUARE CH ICAGO, ILLI NOIS use s si � aw � ■ Triangle Square is a modern luxury apartment building located in the Bucktown neighborhood of Chicago. This 298-unit residential development offers a blend of high -end living spaces and retail amenities. The building's unique sloped roof structure and nonorthogonal angles make it an architectural standout in the area. The six -story structure is framed with cold -formed steel (CFS) above a single -story concrete podium, utilizing C-stud joists and a gyperete over metal deck floor system for structural stability. The design maximizes both aesthetics and functionality, providing residentswith spectacular views of the city skyline from their terraces. McClure served as the Specialty Engineer of Record for Triangle Square, taking on the complex engineering challenges posed by the building's unconventional geometry. The project required the development of innovative structural solutions, including dividing the building into five sections with isolated lateral systems and incorporating cold -formed steel strap -braced walls and masonrystair towers to support the structure. The team also coordinated with the design and construction teams to ensure the seamless integration of these features, from the layout of columns and beams to the design of custom connection details for the building's sloped sections. Throughout the construction process, McClure played an active role in overseeing and resolving on -site challenges, such as podium slab tolerances and misaligned wall embeds. By providing detailed engineering solutions, McClure ensured the project's successful completion, maintaining the building's structural integrity while preserving its architectural vision. The result is a striking and technically complex structure that showcases the capabilities of CFS framing in modern construction. YOUR VISION. ENGINEERED MERE. III0=% McCLURE' SLINGSHOTARCHIT ECTURE.COA PAGE 46 OF 77 THE LEGENDS AT VILLAGE WEST KANSAS CITY, KANSAS .. 1 I n ft%11 j Is rl qAn l: r r ee A ECn u e V. RV 1=-q Legends 267 is a completed eight -story, 267-unit multifamily market - rate apartment community. Spanning 509,221 square feet, the Type II -A residential building is built atop a Type I -A parking garage with a capacity for 620 vehicles. The development offers a varietyof floorplans, featuring three types of one -bedroom units and four types of two -bedroom units, catering to a wide range of residents. Legends 267 stands as the only urban -style mid -rise apartment building in the neighborhood, introducing a modern, high -density living experience to the area. As the structural engineer of record, McClure was responsible for both the superstructure and the concrete parking structure. One of the primary challenges was the significant slope across the site, which resulted in extremely high soil pressures on the subterranean parking levels. McClure collaborated closely with the architect and the precast engineer to balance the structural requirements necessaryto resist these loads while maintaining the desired number of parking spaces. This close coordination ensured the structural integrity of the parking structure while optimizing functionality. The superstructure's lateral system used cold -formed steel (CFS) strap -braced shear walls, which posed another challenge due to their alignment with the podium's double tee stems. McClure developed a solution by embedding structural steel between the stems, bridging the gap without compromising the flexural and shear capacity of the composite topping slab. This innovative approach allowed the project to meet both structural demands and aesthetic objectives, resulting in a successful and well -executed development. YOUR VISION. ENGINEERED MERE. III0=% McCLURE' SLINGSHOTARCHIT ECTURE.COA PAGE 47 OF 77 THE NEST IOWA CITY, IOWA �4 '"�i �L �' �?'• cif I�I The Nest at Iowa City is a 97,000-sq u a re -foot luxury student housing building located near the University of Iowa campus. This nine -story development provides 120 multi -bedroom apartments designed to offer students a premium living experience, with spacious interiors and high -end finishes. The building features two levels of parking, offering convenient access for residents, while private rooftop terraces provide outdoor space with stunning views of the surrounding area. As the Specialty Structural Engineer, our team played a key role in ensuring the structural integrity of The Nest's complex design. The nine -story building required innovative engineering solutions to support both the multi -level parking structure and the residential units above. Our work included detailed structural analysis and coordination with the design and construction teams to ensure the building's load -bearing systems were optimized for safety and longevity while maintaining the desired architectural aesthetic. Throughout the project, we collaborated closely with stakeholders to address challenges unique to high -density, multi -story residential construction. By employing advanced structural engineering techniques and adhering to the highest industry standards, we successfully delivered a building that meets both functional and aesthetic expectations. The Nest at Iowa City now serves as a prime example of modern student housing, combining luxury living with practical, well -designed infrastructure. YOUR VISION. ENGINEERED MERE. III0=% McCLURE' SLINGSHOTARCHIT ECTURE.COA PAGE 48 OF 77 7. FINANCIAL CAPABILITY Iceberg Development Group, LLC. and its sole owner, Jim Bergman, has been involved in the development of residential and commercial for more than 30 years and more than $1 billion in total assets. Attached are letters from lenders, municipalities and tax credit syndicators. Many others could be obtained if requested during our process. Previous projects are similar to the projects being proposed in terms of the financing sources and equity contributions. SLINGSHOTARCHITECTURE.COA PAGE 49 OF 77 C� • NARRATIVE DESCRIPTION OF PROJECT PROJECT DRIVERS: Contextual Composition Respectful response to historic fabric. Stepping new building massing with contextually sensitive scale and proportions. Timeless materials juxtaposed with contemporary detailing speaks to Iowa City's heritage and future. Good neighbor: Iowa [City] Nice Urban infill that enhances neighboring properties. No parking garage reduces traffic in primarily pedestrian alley space. Providing space for shared dumpsters cleans up the alley. Pocket park courtyard space preserves and features beloved mural, respectfully giving space to adjacent historic buildings while activating the building's edges. Synergistic Density Inserting a critical mass of affordable housing alongside hundreds of office workers brings vibrancy and economic vitality downtown throughout day and night. Ground level commercial space provides ideal size for community gathering space for a local restaurant and music venue or anchor retail tenant. Micro retail storefronts offer accessible commercial space for startup entrepreneurs and small businesses. SLINGSHOTARCHITECTURE.COA PAGE 50 OF 77 C� • NARRATIVE DESCRIPTION OF PROJECT RESPONSE TO SPECIFIC CITY GOALS: ACTIVE & ENGAGING GROUND FLOOR USES • Frequent points of entry along entire frontage activate public realm • Mid -block lobby entrances for residential and office tenants • Southwest corner activated by courtyard use for outdoor dining and public art • Northeast corner is activated by micro -retail bays that could engage with alley • All utility and storage uses are hidden on backside SUPPORT THE SMALL BUSINESS CULTURE OF DOWNTOWN IOWA CITY • Three micro -retail bays between 600-700 square feet are consistent with needs identified by Iowa City Downtown District for small businesses and entrepreneurs. • White box space and shared restrooms accessible from micro -retail bays create rapidly deployable space for pop-up shops and new businesses to move in with minimal up front costs. CLEAR BENEFIT TO DOWNTOWN ECONOMY • Bringing hundreds of office workers to work downtown Iowa City bolsters the ecosystem downtown and increases viability of all downtown businesses. • Mixing office users with a range of affordable housing typologies creates not only badly needed workforce housing for downtown businesses but a more densely populated customer base within walking distance. A MIX OF AFFORDABLE HOUSING OPTIONS • This project brings 76 units of affordable housing to Downtown Iowa City with an income average between 40%-80%. 50% of units will be affordable at 60% AMI or below. • The residents of this 55+ community will be able to take advantage of downtown amenities like the Senior Center, the Public Library and the multitude of Arts & Culture venues. • Developer intends to work with University of Iowa to provide access for residents to University activities such as auditing classes, wellness benefits, arts and culture and sporting events. HIGH QUALITY CONSTRUCTION + LEADERSHIP IN CLIMATE ACTION • The proposed 13-story building will be Type 1-A, non-combustible construction • The building will exceed energy code requirements • All units will be equipped with Energy -Star appliances • High efficiency HVAC equipment to meet or exceed IFA energy requirements • The Project will meet or exceed prescriptive standards for Multi Family New Construction (MFNC) CONTEXTUAL ARCHITECTURE + URBAN DESIGN • The proposed building design begins and ends in dialogue with neighboring historic buildings. 3-story brick masses align with historic downtown datums and step back in deference to the adjacent smaller structures. A slender tower accentuates the corner with contemporary detailing and proportions, juxtaposing harmoniously with the brick base anchoring the design in context. SLINGSHOTARCHITECTURE.COA PAGE 51 OF 77 9. CITY OFFICE VIABILITY The development team has provided a total of approximately 28,000 Gross Square Feet (GSF) or 25,000 Net Square Feet (NSF) of office space on levels 2 and 3, intended to be leased or owned by the city of Iowa City. We think that moving City offices to the site of the historic City Hall is appropriate and exciting and Iceberg would love to work with the City to come to an agreement on the use of this space. However if the City decided not to use the space provided, there are two primary options for the 2nd and 3rd floors. The most economical option is to have ACT use the office space provided on levels 2 and 3 and eliminate the top three floors of the building (or potentially convert them to additional affordable housing). Another option would be to modify the floor to floor heights and work with the Englert to provide a live music venue on level 2. The attached pro forma referenced in Section 11 describes the financial assumptions of utilizing the 2nd and 3rd floors as office space. Iceberg Development Group is eager to engage in dialogue with the City to determine which use of this space would be in the best long-term interest of the community. SLINGSHOTARCHITECTURE.COA PAGE 52 OF 77 VISUAL DESCRIPTION Attached are the following visual descriptions of the proposed project: • Conceptual renderings or schematics, including one or more which show the proposed building in relationship to adjacent properties; • Conceptual square footage of commercial space; • Conceptual square footage and size/type of residential units; • Schematic layout of commercial and residential floors and parking; • Schematic or rendering of the pedestrian -level facade. SLINGSHOTARCHITECTURE.COA PAGE 53 OF 77 OEM JNIISHOT A RC H I T E C T U R E SLI N GS H OTAR CHI TECTU R -OM PAGE 54 OF JJ r 11 L b _:4 mom 21 S LINN STREET MASSING + PROGRAM DIAGRAM ZONING CODE DATA: MAX. FAR'. 10 (15') 'WITHIN LUSION OF DEDICATED CLASS A OFFICE SPACE SITE AREA'. 15,000 SF (PER REP) 15,000 x 10 = 150,000 SF ALLOWED BY RIGHT 15,000 x 15 = 225,000 SF ALLOWED W/ FAR BONUS BUILDING DATA: 33,660 SF ACT OFFICE + 28,120 SF CITY OFFICE _ 61,780 GSF CLASS A OFFICE SPACE 61,780 x 2 = 123,560 GSF ALLOWED ABOVE BASE CODE PER ZONING CODE 14-2C 150,000+ 123,560 SF=273,560 SF (MAX. 225,000) PROPOSED: 167,431 TOTAL GSF; 13 STORIES 7 STORIES OF RESIDENTIAL UNITS, 6 STORIES @ 11,223 SF PER FLOOR AND 4TH FLOOR @ 13,726 = 81.064 GSF RESIDENTIAL 351-BEDROOMS 41 2-BEDROOMS 76 TOTAL UNITS PROGRAM LEGEND 19 RESTAURANT/LIVE MUSIC VENUE OR ANCHOR RETAIL (3,830 GSF) ❑ MICRO -RETAIL (1,950 GSF) ❑ CITY OFFICE (28,120 GSF) ❑ RESIDENTIAL(81,064 GSF) ❑ ACT OFFICE (33,660 GSF) ❑ CIRCULATION ❑ BUILDING UTILITY/SUPPORT SPACE 9NIISH0T ARCHITECTURE PLAZATOWERS 14 STORIES THE CHAUNCEY 15 STORIES THE RISE 15 STORIES PARK @ 201 14 STORIES HISTORIC HOTEL JEFFERSON 8 STORIES PAGE 57 OF 77 21 S LINN STREET _ � M GROUND LEVEL- PLAN CONCEPT FECYCLINS1.1ED TRASH/G U '� MICRO RETAIL 6SO NSF GENERATOR MICRO RETAIL MDF MAINTENANCE O OFFICE 3 OFFICE BIKE OFFICE LOBBY STORAGE RESIDENTIAL BIKE STORAGE COURTYARD 1,1S0 NSF JNI1SHOT IN ARCHITECTURE SLINGSHOTARCHITECTURE_ COM RESTAURANT/LIVE MUSIC VENUE OR ANCHOR RETAIL + I I I I I I I 700 NSF 3,830 NSF PAGE 58 OF JJ 21 S LINN STREET LEVEL 2 + 3 1 CITY OFFICE JNI-1SHOT "� ARCHITECTURE PAGE 59 OF JJ 21 S LINN STREET LEVEL 4 1 AFFORDABLE HOUSING JNIISHOT"� ARCHITECTURE SLINGSHOTARCHITECTURE_ COM COMMUNITY 1-BEDROOM PATIO & AMENITY a 660 NSF rRASM 7-BEDROOM 900 NSF 2-BEDROOM 6611 NSF o z 1-BEDROOM o z 0? od 900 NSF 2-BEDROOM LLLv. LLLv. L STAIR 2,000 NSF 2-BEDROOM 20 NSF 2-BEDROOM 20 NSF OUTDOOR PLANTINGS 2-BEDROOM 2-BEDROOM 2-BEDROOM NSF 8as NSF 810 NSF 8111 NSF 810 NSF PAGE 60 OF JJ 21 S LINN STREET LEVEL- 5-10 I AFFORDABLE HOUSING 2-BEDROOM I I I 7-BEDROOM a 660 NSF TRASH 7-BEDROOM 900 NSF 2-BEDROOM 66. NSF 1-BEDROOM 660 NSF 900 NSF 2-BEDROOM 77 ELEv. ELEI I ELEI STAIR 620 NSF 1-BEDROOM 620 NSF 845 NSF 2-BEDROOM 810 NSF 2-BEDROOM 810 NSF 2-BEDROOM WI 810 NSF u JNIISHOT"� ARCHITECTURE SLINGSHOTARCHITECTURE. COM PAGE 61 OF JJ 21 S LINN STREET LEVEL 11-13 1 ACT OFFICE JNI1SHOT ARCHITECTURE FINANCING NARRATIVE Organization and management approach to the Project The developer will approach the project similar to many of its prior projects by utilizing the team approach. By incorporating local team members, Iceberg intends to marry multi national expertise with local expertise to both construct and finance the project. General schedule for completion of the Project following property acquisition Approximately 12 months for design and permitting and 24 months for completion after building permits are issued. See detailed description of contractor strategy on page 13. Description of a general financing plan and a preliminary pro forma including anticipated and/or potential financing sources Attached hereto are two pro formas: 1. Pro forma one speaks to the 7 stories of elderly affordable one- and two -bedroom units (76 total units) contained within the building. This pro forma shows required $9,671,298 from a combination of TIF incentives (requires further discussion with City regarding sourcing of TIF), non-profit contributions and developer contributions (by deferring development fees). 2. Pro forma two speaks to the balance of the building and illustrates the shortfall by category/use. If desired, after communication with the City, any or all of these categories/uses can be eliminated thereby reducing the shortfall. It's the development team's stance that any of the individuals uses are subject to change. Copies of any letters of intent from prospective purchasers and/or tenants Attached are letters from ACT and The Englert Theatre. Description of the marketing approach to secure purchasers or tenants The development team is engaging CBRE the largest commercial real estate company in the world to seek the best -in -class service retail to complement to corridor. CBRE is targeting existing clients they are actively negotiating with for the lifestyle center development such as Vuori, Lulu Lemon, wellness, and chef forward restaurants. CBRE has worked with many local retailers and hospitality groups to Iowa City and Iowa that we'll target as well. The proposed purchase price and the explanation of the purchase price for the Project property For purposes of these pro formas we have included the land purchase price at $2 million. The proposed amount and description of gap financing assistance for the Project See attached pro formas SLINGSHOTARCHITECTURE.COA PAGE 63 OF 77 123 133 & 14 FELONY / LITIGATION STATEMENT None of the principals, development entities, or members of the development team have ever been indicted for or convicted of a felony, and a description of any and all litigation involving the principals, development entities, or members of the development team during the past five years (See Exhibit D, attached.) CEBERG DEVELOPMENT PROFESSIONAL REFERENCES MATT KEEGAN, ATTORNEY Ward Murray Pace and Johnson • (815) 625-8200 • Keegan@wmpj.com DAN METZ, SENIOR VICE PRESIDENT COMMUNITY LENDING Wells Fargo • (704) 299-0165 • Dan.Metz@wellsfargo.com PROPOSER STRENGTHS ERIC TAGTMEIER, SENIOR VICE PRESIDENT Iowa Bank and Trust • (563) 370-7144 • ETagtmeier@iowatrustbank.com VIRGINIA PACE, PRESIDENT Lighten Gale Group • (773) 531-8958 • Vpace@housingdeveloper.com Identify any unique resources, capabilities, or assets which the proposer would bring to the Project. The developer has unique relationships with equity providers and nonprofit organizations that would be willing to provide financing and funding for the affordable housing component of the development. SLINGSHOTARCHITECTURE.COA PAGE 64 OF 77 15 PROPOSAL SIGNATURE EXHIBIT E Proposal submittal signature form The undersigned attests to his/her authority to submit this proposal and to bind the firm herein named to perform if the firm is selected by the City of Iowa City. The undersigned further certifies that he/she has read the Request for Proposal, terms and conditions, and any other documentation relating to this request; has complied in all respects with all conditions hereof, and this proposal is submitted with full knowledge and understanding of the requirements and time constraints noted herein. The undersigned hereby further acknowledges that it accepts the terms of the Request for Proposals in its entirety and by the submission of its proposal hereby waives any claims or claims to irregularities that arise out of such RFP, the process employed by the City to solicit and develop proposals, the RFP evaluation process described in the RFP, and agrees to release and hold harmless the City, its employees, agents, and consultants from any claim, loss, or damage arising therefrom. The undersigned hereby authorizes any person, firm or corporation to furnish any credit history and financial condition or other information required by the City to verify information related to the Firm's submission to the City. I hereby certify, on behalf of the undersigned firm, that the above information is true and correct to the best of my knowledge and that the City may rely on the information provided. Firm name: Iceberg Development Group, LLC Home office address: 7152 Eldorado Pointe City, state, zip: West Des Moines IA 50266 Signature: �c,,,— Date: �`� Oc er 31, 2024 SLINGSHOTARCHITECTURE.COA PAGE 65 OF 77 EXHIBIT A LETTERS OF INTEREST ACT' October 22, 2024 Iceberg Development Group, LLC Re: Letter of Interest for 21 South Linn St Property To Whom It May Concern: I am writing on behalf of our organization to follow up on our previous discussions about your proposed project at 21 South Linn St, Iowa City, IA (the "Proposed Project'). Please accept this letter as a statement of our interest in potentially moving forward with a future lease agreement for office space at the Proposed Project. We have identified this property as a preferred location for our upcoming relocation and we are excited about the possibility of working with your group. As we discussed, our mutual interest would be contingent on final pricing and terms, but we wanted to make clear our interest in potentially moving forward if you are awarded the project and execute a resulting contract with Iowa City. Thank you and we look forward to updates during the RFP process. Sincerely, Jason Happel SVP, General Counsel 500 ACT Dr. I Iowa City, Iowa 52243-0168 319-621-1456 Jason. Happel(@act.orq I www.ACT.org PAGE 66 OF 77 EXHIBIT A FETTERS OF INTEREST THE ENGLERT THEATRE �' \�;1 221 E WASHINGTON STREET IOWA CITY, IA 52240 ICEBERG DEVELOPMENT GROUP, LLC ATTN: JAMES BERGMAN 7152 ELDORADO POINTE WEST DES MOINES, IA 50266 I hope this message finds you well. I am writing on behalf of The Englert Theatre to express our continued interest in your proposed project at 21 South Linn Street. Having thoroughly considered the opportunities that this location presents, we have identified it as a prime candidate for our planned expansion, and we are enthusiastic about the prospect of working together. Please accept this letter as a formal indication of our interest in pursuing a lease or potential purchase agreement, pending the outcome of the Request for Proposals (RFP) process. We recognize that final terms and pricing will need to be established, and our interest is contingent on those details. However, we are eager to explore this partnership further should your proposal be selected by the City of Iowa City. We look forward to staying informed as the RFP process progresses and welcome any updates you can provide. Thank you for considering us as part of your development vision. We are excited about the possibilities and remain committed to exploring this opportunity in earnest. Sincerely, 6�� John Schickedanz Executive Director PAGE 67 OF 77 EXHIBIT B LETTERS OF RECOMMENDATION City of norwaLk October 21, 2024 Luke Nelson City Manager RE: Letter of Recommendation for Iceberg Development Group, LLC /Pioneer Property Management (Brian Fritz) To Whom it May Concern: Several years ago Brian Fritz and Jim Bergman of Pioneer Property Management (PPM) approached the City of Norwalk to discuss a project that could benefit workforce housing and senior housing. City Staff provided guidance of which PPM took seriously and immediately took action. Within a short period of time PPM had found property and designed a project that fit within the recommendations from Staff. The next step for PPM involved a financial commitment request from the City. This served two functions; first, it was a requirement oftheir grant request. Second, it provided an opportunity for the City to say "yes" or "no" to the project. Through this financial request also came an opportunity for community members to learn about the project and provide feedback. PPM did an outstanding job presenting their concept. The grant process was smooth whereby all the heavy lifting was performed by PPM with only minimal Staff time required of Norwalk. PPM kept Norwalk updated so that we understood when our financial commitment would be necessary. The actual construction of the senior housing facility had several hurdles. Norwalk's building codes and design criteria are somewhat challenging yet PPM and their contractors met those challenges head-on. The project had some delays and also confronted some major financial hurdles as inflation of construction materials was hitting record levels. Ultimately the facility was completed and the results were impressive. This part ofthe project was the most fun and included a ribbon cutting combined with tours ofthe facility. We had a number of elected officials and chamber members that attended. We heard many positive comments along with amazement that this was predominantly income qualified housing. Operation ofthe facility continues to be impressive. I still hear compliments from citizens and renters that live within the facility. I have yet to hear a single complaint (this even includes the residential neighbors). We look forward to our next project with PPM. Respectfully, Luke Nelson City Manager Norwalk City Hall • 705 North Ave • Norwalk, IA 50211 C: 515-493-9971 • Inelson@norwalk.iowa.gov PAGE 68 OF 77 EXHIBIT B LETTERS OF RECOMMENDATION William J. Skare City Administrator Date: October 301, 2024 To whom it may concern: Iceberg Development Group, LLC has worked with the City to develop affordable housing in our community. This process included creating TIF benefits for the project. The Alice Place and Villas Fox Pointe projects have been a great asset for our city, and I am pleased with our working relationship with Iceberg Development. Please reach out if you have any questions. Thank you. Sincerely, W ' J. Skare, CPM City Administrator bskare@booneiowa.gov 923 811' St, P.O. Box 550 Telephone: 515-432-4211 Boone, Iowa 50036-0550 Fax:515-433-0630 PAGE 69 OF 77 EXHIBIT B FETTERS OF RECOMMENDATION Iowa joTrust October 29, 2024 Re: Iceberg Deveiopment Group, LLC/lames Bergman To whom it may concern, My name is Eric Tagtmeier. I have worked in the commercial Banking field for 24 years. I am currently employed as a Senior Vice President by Iowa Trust & Savings Bank in Bette ndorf, IA. Iceberg Development Group, LLC/James Bergman has been a customer of mine For 22 years. During that period, we have worked together on 32 projects with cumulative financing amounts of approximately $242 million. The projects include a wide variety of development and construction. They have handled all projects as agreed and possess a superior amount of experience and knowledge when compared to others within the industry. The trust I have developed with them is a valuable resource in my position. I highly recommend Iceberg Development Group, LLC/James Bergman and am certainly willing to communicate further as needed. Sincerely, Eric W. Tagtmeier Senior Vice President www. i owatru stba n k. co m 1-800-233-9109 PAGE 70 OF 77 EXHIBIT B LETTERS OF RECOMMENDATION Wells Fargo Community Lending and Investment October 22, 2024 To whom it may concern, RE: Mr. Jim Bergman c/o Iceberg Development 7152 Eldorado Pointe West Des Moines, Iowa 50266 Iowa City, IA Opportunity Wells Fargo CLI has provided equity and debt on many of Iceberg Development Group LLC's projects in the past 10-15 years. Wells Fargo, subject to our underwriting guidelines, would welcome the opportunity to provide equity and debt financing for the property at 21 S Linn in Iowa City. Please feel free to call me at (704) 715-1307 with any questions you may have. Wells Fargo wishes to thank you for the opportunity to provide financing for the development, and we look forward to underwriting this transaction. Very truly yours, I " A C, 44,h_. Daniel G. Metz, Managing Director Wells Fargo Community Lending and Investment PAGE 71 OF 77 EXHIBIT CA PRO FORMA T AFFORDABLE HOUSING Development Analysis - North Linn 10.16.24 ANNUAL INCOME ASSUMPTIONS Monthly Gross Monthly Net Monthly Net Annual Net Unit Type No. of Units Unit Size Utility Allowance (All Utilities) Rent (gross- Rent utolotyl Rent (Total) Income (Total) 1 BD- 60 % 42 838 64 $ 838 35,196 422,352 2BD- 60% 34 1,000 82 $ 1,000 34,000 408,000 76 $69,196 $830,352 $ $/unit ANNUAL NET INCOME 830,352 10,926 DEVELOPMENT BUDGET Misc. Income 0 POT. GROSS INCOME 830,352 10,926 PURCHASE LAND AND BUILDINGS Total Cost Eligible Basis Less Vacancy 7.0% (58,125) (765) Land 1,000,000 N/A Other Income Brokers Fees 2 N/A EFF. GROSS INCOME 772,227 10,161 Existing Structures - - Other - ANNUAL EXPENSE ASSUMPTIONS ACQUISITION: Total 1,000,002 Per Unit 13,158 - ADMINISTRATIVE EXPENSE $ $/unit Advertising 1,000 13 SITE WORK Total Cost Eligible Basis Office Salaries 44,000 579 On -site Work 300,000 300,000 Office Expenses 12,000 158 Off Site Work for Utility - N/A Property Management Fee 4.5 % 34,750 457 Demolition - N/A Onsite Manager Salary 0 0 Garages (not included in rent) - Legal Expenses - Project Only 2,500 33 Parking (not included in rent) - N/A Auditing Expenses - Project Only 8,000 105 Landscaping - Bookkeeping Fees /Accounting 0 Other - - Total Admin Expense 102,250 1,345 SITE WORK: Total 300,000 300,000 Per Unit 3,947 3,947 OPERATING and MAINT. EXPENSE $ $/unit Electricity and Gas 7,500 99 CONSTRUCTION Total Cost Eligible Basis Water and Sewer 30,000 395 New Building 14,300,000 14,300,000 Trash 7,500 99 Rehabilition - Maintenance Payroll 40,000 526 Lead Based Paint Measures - - Maintenance Supplies 30,000 395 Accessory Building(s) - Security Payroll / Contract 0 Garages that are part of LIHTC rent - - HOA Fee 0 Surface Parking that is part of LIHTC rent - Decorating 12,500 164 Underground Parking that is part of LIHTC rent - - Total Operating Expense 127,500 1,678 Community Service Facility - - General Requirements 5.0% 715,000 715,000 TAXES & INSURANCE $ $/unit Builder Overhead 2.0 % 286,000 286,000 Real Estate Taxes 130,000 1,711 Builder Profit 5.0% 715,000 715,000 Insurance 40,000 526 Builder Bond Fee - - Total Taxes & Insurance 170,000 2,237 Construction Contigency 10.0% 1,121,120 1,121,120 Abestos Abatement/Containment - - OTHER EXPENSES $ $/unit Less Workforce Housing / EZ Sales Tax Rebate - - Security System Expense 0 1 Less Energy Rebate - Support Services 0 CONSTRUCTION. Total 17,137,120 17,137,120 FA Compliance Monitoring + Asset Man. 8,500 112 :Per Unit 225,488 225,488 Annual Replacement Reserves 23,100 304 Mortgage Ins. Premium (MIP) 0 PROFESSIONAL FEES Total Cost Eligible Basis Investor Fee 0 Architect -Design 500,000 500,000 Other Expenses 0 Architect -Supervision (inspection) 50,000 50,000 Total Operating Expense 31,600 416 Engineering Fees 120,000 120,000 Attorney Fees (Real Estate) 100,000 100,000 TOTAL ANNUAL EXPENSES 431,350 5,676 Accountant Fees 25,000 25,000 NET OPERATING INCOME 340,877 4,485 Other - - PROF. FEES:Total 795,000 795,000 Per Unit 10,461 10,461 PAGE 72 OF 77 EXHIBIT CA PRO FORMA T AFFORDABLE HOUSING DEVELOPMENT BUDGET (CONTINUED) INTERIM COSTS Total Cost Eligible Basis Construction Insurance 75,000 75,000 Construction Interest 600,000 480,000 Construction Loan Origination Fee 60,000 Construction Loan Credit Enhancement - - Taxes During Construction 25,000 25,000 Water, Sewer, Impact Fees - - Other - - INTERIM COSTS Total 760,000 58Q000 . Per Unit 10,000 7,632 FINANCING FEES AND EXPENSES Total Cost Eligible Basis Bond Premium - N/A Bond Costs - N/A Credit Report - N/A Cost of Issuance - N/A Permanent Loan Origination Fee N/A Permanent Loan Credit Enhancement N/A Attorney's Fees 40,000 N/A Letter of Credit (LOC) Fees N/A Title and Recording 25,000 N/A Placement Fee - - Other FINC. FEES AND EXP:Total 65,000 - . Per Unit 855 - SOFT COSTS Total Cost Eligible Basis Property Appraisal 7,884 7,884 Market Study 7,500 7,500 Environmental Report 7,500 7,500 Su_y 7,500 7,500 Ren-Up Marketing - N/A Tax Credit Application Fees 2,750 N/A IFA Compliance Monitoring Fee 4,992 N/A Tax Credit Reservation Fee 89,281.69 89,282 N/A IFA Construction Monitoring 2,900 N/A 8609 Fee 9,820.99 9,821 N/A Cost Certification / Accounting Fees 15,000 15'000 Permanent Relocation Expenses - N/A Temporary Relocation Expenses - N/A Contingency - N/A Furnishings and Equipment 60,000 60,000 Capital Needs Assessment Report - - Other Attorney's Fees - Other SOFT COSTS Total 215,129 105,384 : Per Unit 2,831 1,387 SYNDICATION COSTS Total Cost Eligible Basis Bridge Loan Fees and Expenses - N/A Organizational (Partnership) - N/A Tax Opinion - N/A Other N/A SYNDICATION COSTS Total - Per Unit DEVELOPER'S FEES Total Cost Eligible Basis Developer's Fee ######## 3,405,151 Developer Overhead - Environmental Consultant Fee - - Historical Consultant Fee - - Consultants Fee - - DEVELOPER'S FEES Total 3,405,151 3,405,151 . Per Unit 44,805 44,805 PROJECT RESERVE Total Cost Eligible Basis Rent -Up Reserve - N/A Operating Reserve N/A TIF Reserve N/A Other N/A PROJECT RESERVE Total - - . Per Unit - - TOTAL DEVELOPMENT COSTS 23,677,401 22,322,655 . Per Unit 311,545 293,719 TOTAL CONSTRUCTION COSTS 17,437,120 17,437,120 . Per Unit 229,436 229,436 FINANCING STRUCTURE Not Income 340,877 Debt Service 296,125 Minimum Debt -Coverage Ratio 1.150 Maximum Debt Service 296,415 Debt Coverage Ratio 1.151 MORTGAGE LOAN ANALYSIS Loan 1 Loan 2 Interest Rate 5.750% 0.000% Amort (Mo) 100.000 - Term (Mo) 192 192 Principal Amount 5,150,01DO - Debt Service Factor 0-4792% Debt Service 24,677.08 $ - x12 x12 Annual 296,125 - Total Loan Amount 5.150,000 Total Debt Sere 296,125 Cash Flow after Debt Service 5,150,000 Available New Debt Service 296,125 TAX CREDIT ANALYSIS Total Project Cost 22,322,655 Less:lneligible Costs - Equals: Est. Eligible Basis 22,322,655 Less: Grants, Hisl. Credtis, etc. - Equals: Eligible Basis 22,322,655 Times 1.3: Basis Boost 1.0000 22,322.655 Times: Applicable Fraction 99.99% Equals: Qualified Basis 22,320,422 Times: Tax Credd Rate (4%) 0.0400 Equals: Tax Credit AAhon 892.817 Times 10, Total Tax Credit Allocation 8.928.169 Times: Equity Raise Rate $0.88 Total Equity From Sale of Tax Credits 7,856,789 Times General Partner % 99.99% Equals: Total Equity for Gen. Part- 7.856,003 SOURCES AND USES OF FUNDS Total Project Cost 23.677,401 Tax Credit Amount 7.856,003 Project Cost less Tax Credit Amt. 15.821.398 Loan Proceeds 5.150,000 TIFINon Profit Contr. 76 9,671,298 Shortfall 1.000,100 SOURCES TO FUND SHORTFALL Stale Donation Tax Credit - HOME Funds - Owner Contribution 100 Local Municipality Defamed Developer Fee 4 1,000,000 Adjusted Shortfall 0 PAGE 73 OF 77 EXHIBIT C.i PRO FORMA 1: AFFORDABLE HOUSING Escalating Factors: 15-YEAR CASH FLOW PROFORMA Income 2.00 % Expenses: 3.00% RE Taxes: 3.00% Iowa 9% Deal - 2018 Input Value Input Value link Year Year Year Year Year Year Income: (Explain, If necessary) 1 2 3 4 5 6 Gross Rental Income I 1 830,352 1 846,959 1 863,898 881,176 898,800 1 916,T76 ---------------------------h------------------------------------ i h i --- - h i - Laundryh lncome ------------- --- 0 ' 0 ' F----------------- s--------- ; ----- F 0 ' 0 ' ----- +---------'- F 0 ' -- i 0 -"--"-- Other Income (Specify) 0; 0 i 0; 0; 0 0; Oi �------------ Oi 0; '--------- 0; 0 -----------------------------------------------------`----------------------------------- Less Vacancy -•---------------•--------------•-------------- (58,129); (59,287): (60.473)1 (61,682)1 '-------------- (62,916): (64174 Net Rental Income 772,227 787,672 803,425 819,494 835,884 852,601 Operating Expenses: Explain. d necessary) Administrative Expense 1 1 67,500 1 69,525 1 71,611 1 73,759 1 75,972 1 78,251 1 ----------------------L------------------------------------h------------- Mane ement Fees i 34,750 ; --- 34,7 ----- - h--------- 35,793 ; i------------ 36,867 ; 37,973 h--------------i---------------I ; 39,112 ; 40,285 ; Operating and Maintenance Expense -- - - --------- - - ------ - -- ------------------- --- 82,500 ; ------- --•----------- 84,975 ; • 87,524 -------------------------•-------------- ; 90,150 ; 92,854 ; 96.640 i - 45,000;------_46_350 1------ 47,741 �- t 50:648� ------s _____ Insurance i 40,0001 41,2001 42.4361 -----49,173 43,7091 45,0201 --52_167 46.3711 --------------------------------------------------h------------------------------------h--------------i---------------h--------------i---------------h--------------i---------------1 Real Estate Taxes -----------------------------------%--------------------------------------------------------------- 130,000 ; 133,9001 --�-------------------------- 137,917 i 142,055 - ; 146,316 i 150.706 ; --" Other (Specify) ------------------------------------------------------------------------------------------------------ --------------- 0 ; 0 -------------- ; 0 --------------- • ; 0 •------------------------------' ; 0 ; Other (Specify) 0; 0 0; 0; 0 0; Sub -Total Operating Expenses 399.750 411,743 424,095 436,818 449,922 163,420 Projected Adjustments (i e. tax abatement) = 0 ; 0 ; ---•--------------+---------------•------------------------------- 0 ; 0 ; 0 ; 0 ; Resident Pop. With Special Needs Plan (S1501low-income unit min-) 0 ; 0 ; 0 ; 0 ; 0 ; 0 ; Total Operating Expenses 1 399,7501 411,7431 424.095 i 436,818 449,922 463,420 Net Operating Income 372,477 1 375,929 1 379,330 1 382,676 1 385,961 389,181 loperating Expense Ratio 52% 52 % 53% 53 % 54% 54 Annual Debt Service Payment !mortgagor 1st Mortgage ;T80 ---------------------------------------------- Other Subordinate Loans ------------------------ `------------------------------------ Other Subordinate Loans 296,125 ; 296.125 -------------- +--------------- 0 ; 0 `-------------- '--------------- ; 296,125 •--------------+ ; 0 `-------------- '--------------- ; 296,125 ------------------------------ ; 0 ; 296,125 +--------------- ; 0 `-------------- ; 296.125 ; ; 0 ; --------------' Total Debt Service Payments 296,125 296,125 296,125 296,125 296,125 296,1125 Net Cash Flow 44,752 48,204 51,605 54,951 58,236 61,456 Net Cash Flow Cumulative 44,752 92.956 144,562 199,513 257,749 319,205 Debt Service Ratio: 1st Mortgage 1.15 1.16 1.17 1.19 1.20 1.21 Debt Service Ratio: All Debt 1.15 1.16 1.17 1.19 1.20 1.21 PAGE 74 OF 77 EXHIBIT C.i PRO FORMA 1: AFFORDABLE HOUSING Vacancy., DO'erred De%elupmem Fee Total Abatement $ 372,289 (9% Credits) 7.00% $ 1,000,000 Total Sub. Loan Paid $ - 714 ; 93.436 ; 96.239 ? 99.126 i 102.100 41.494 ; ----------------------------- 42,738 ; ----------------------------- 44,021 ; 45,341 ; 46,701 l ----------------- 48,102 ; 49,546 ; 51,032 ; -------------- 52,563 ; 98,509 ; --------------•-- r 101,465 ; ------------ 104,509 ; ---------------- T---------- 107,644 ; --------- 110,873 --- -•- T--------------,---------------r 114,199 ; ------------•------- 117,625 ; 121,154 ; ------ + 124.789 ; ---• `------ 53_732-....... ------- --- 55,344 1...... 57_005 y_______58,715 -•� : -------------• ------------+ 60.476 l -- ---62,291 y------ 64,159 :-------66,084A------ �---------- 68,067 47.762 49,195: 50,671 l 52,191 l 53,757l 55,369: 57,030l 58,741 l 60,504 }----155.227 {-.-.-.159,884 ¢----- 164,680 {-------------- 169,621 ¢-------------- 174,709 ±-------------- 179,950¢ --- 185,349 : --,909- --------- 190 196,637 { 0 0 0 0 0 0' 0' 0' 0 477,= 491,642 1 506,3921 521,583 537,231 1 553,348 1 569,9481 587,047 604,658 0; ---------------------------- 0; -------------- 0; 0; -------------- 0; 0; 0; 0; -------0. 0 �- 0 �-------------- 0 0 T �------------------------------;-------------- 0 0 0 0 � 0 477,323 491,642 506,392 521,583 537,231 553,348 569.948 587,047 604.658 392,331 395,404 398,396 401,300 404,110 406,820 409,423 411,912 414,280 55% 55% 56% 57% 57% 58% 58 % 59 % 59% 296,125 --------------1--------------T--------------1--------------- 0 ; 296,125 0 ; 296,125 0 ; 296,125 0 ; 296,125 ----------------------------- ; 296,125 T----------------------------- ; 296,125 ; 296,125 4r------ ; 296,125 ------- 296,125 296,125 296,125 296,125 296,125 296,125 - 296,125 296,125 296,125 64,606 67,679 70,671 73,575 76,385 79,095 81,698 84,187 86.555 383,811 451,490 522.161 595,736 672,121 751,216 832,913 917,100 1,003,655 1.22 1.23 1.24 1.25 1.26 1.27 1.28 1.28 1.29 1.22 1.23 1.24 1.25 1.26 1.27 1.28 1.28 1.29 PAGE 75 OF 77 EXHIBIT C.2 PRO FORMA 2: COMMERCIAL USES IOWA CITY PROJECT Total Project Value PROJECT SUMMARY ANALYSIS Base Construction and TI 15,854,216 10-27-24 10/31/24 GENERAL OFFICE CITY OFFICE RETAIL RESTAURANT TOTALS PROJECT SCOPE Square feet - gross 30,893 29,043 2,455 4,092 66,483 Rent % 100.00 % 100.00 % 100.00 % 100.00 Square feet - rentable 30,893 29,043 2,455 4,092 service sq ft 1,500 697 655 55 92 program sq ft 30,196 28,388 2,400 4,000 64,984 const total psf 200.00 190.00 180.00 180.00 190.00 TI psf 60.00 60.00 - - service costs 300,000 139,400 131,000 11,000 18,400 construct costs - 7,688,650 6,944,181 443,005 778,380 15,854,216 PROJECT COSTS - PSF - GROSS Base construction costs - psf 190.23 180.45 180.45 190.22 TI costs - psf 58.65 58.65 - - Land costs 1,000,000 15.04 15.04 15.04 15.04 Site Work 300,000 4.51 4.51 4.51 4.51 Architect Supervision 50,000 0.75 0.75 0.75 0.75 Architect 5.00% 9.51 9.51 9.51 9.51 Structural Engineer 50,000 0.75 0.75 0.75 0.75 MEP Engineer 50,000 0.75 0.75 0.75 0.75 Civil Engineer 60,000 0.90 0.90 0.90 0.90 GeoTech 10,000 0.15 0.15 0.15 0.15 Phase I 3,000 0.05 0.05 0.05 0.05 Phase II 5,000 0.08 0.08 0.08 0.08 Insurance 20,000 0.30 0.30 0.30 0.30 Legal 50,000 0.75 0.75 0.75 0.75 FFE 100,000 1.50 1.50 1.50 1.50 Signage 50,000 0.75 0.75 0.75 0.75 Marketing 25,000 0.38 0.38 0.38 0.38 Escalation 5.00% 14.25 13.76 10.83 11.32 Developer Fee 5.00% 14.97 14.45 11.37 11.89 Contingency 7.00% 22.00 21.24 16.72 17.47 Origination fees -psf 0.50% 1.43 1.38 1.08 1.13 Construction interest -psf 6.50% 17.45 16.81 13.00 13.64 Construction months 24.00 Cost - psf 355.15 342.93 269.63 281.84 Cost - per unit FINANCING Project cost 10,971,789 9,959,763 661,945 1,153,297 22,746,794 (Shortfall) Surplus by category ' (2,831,976) (1,731,387) 149,546 198,978 (4,214,839) Net project cost 8,139,813 8,228,376 811,491 1,352,275 18,531,955 LTV 70.00 % 70.00 % 70.00 % 70.00 Project debt 5,697,869 5,759,863 568,044 946,593 12,972,369 Amortization - years 25.00 Rate 7.25 Payment 494,215 499,592 49,270 82,104 1,125,181 EQUITY Developer equity 462,331 419,733 27,921 48,637 958,622 Investor equity 1,979,613 2,048,780 215,526 357,045 4,600,964 Total equity 2,441,944 2,468,513 243,447 405,682 5,559,586 Return required - percent 8.00 % 8.00 % 8.00 % 8.00 % 8.00 Return required 195,356 197,481 19,476 32,455 444,768 CASH FLOW REQUIRED 689,571 697,073 68,746 114,559 1,569,949 8.47% Vacancy allowance 7.00 % 0.00 % 0.00 % 0.00 BASE INCOME Per square foot $ 24.00 $ 24.00 $ 28.00 $ 28.00 Per unit per month MARKET INCOME - TARGET $ 24.00 $ 24.00 $ 28.00 $ 28.00 PAGE 76 OF 77 EXHIBIT D LITIGATION EXHIBIT D LISTING OF LAWSUITS OR LITIGATION WITHIN THE PAST FIVE YEARS Lawsuit or Litigation NONE Status or Outcome N/A Comments N/A PAGE 77 OF 77 C41I f I i u, 21 SmuMinn�.v�.a 21�Ss"�Ihl[�11 f i i �I � Yi •�1�4. r J d" ` 1. a CITY OF IOWA CITY REQUEST FOR PROPOSAL Private Developer for the 21 South Linn Street Property November 1, 2024 1.0 LETTER OF INTEREST SALIDA PARTNERS October 30, 2024 City of Iowa City Rachel Kilburg Vadey Economic Development Coordinator 410 E Washington Street Iowa City, IA 52240 Rachel Please accept this letter of interest from Salida Partners and our team consisting of Shive- Hattery Architecture + Engineering and Community Development Strategies for the RFP for the redevelopment of 21 S. Linn Street in Iowa City. We look forward to redefining the northwest corner of Washington and Linn Street from a vacant distressed corner into a vibrant, inclusive and active mixed -use space offering engaging street level design and a variety of uses. Our team of Iowa City based partners is heavily Invested in the community, both personally and professionally through participating In private, public, and non-profit organizations. This commitment to Iowa City contributes to the fabric that makes our community so unique. We are also excited to introduce Skydeck Capital, LLC to the Iowa City market. They have been an active participant in developing our RFP proposal and have a history of adding to the vibrancy of communities throughout the Midwest. Skydeck also has extensive history with mass timber developments and sustainable design. Please feel free to contact me ifyou have any questions about the RFP Thank you for considering our proposal to add to the vibrancy of downtown Iowa City. Slice I, Steve Lo� Owner/Founder steve@salidapanners.com 308 E Burlington St #403, Iowa City, IA 52240 319-621-3462 2.0 CONTACT INFORMATION SAL IDA PARTNERS Steve Long has ove25 years of planning, development, project management and investment property ownership experience. He earned his Masters degree in Urban Planning and Policyfrom the Universityof Illinois atChicago, worked atthe American Planning Association and then as an urban plannerin Chicagoand Lake County, It before moving to Iowa City where he served as the Community Development Coordinator and then Neighborhood Services Coordinator. Steve was then a Senior Project Manager for Chicago based HBK Engineering where he worked with communities and developers to plan for development projects from conception to site plan, full construction documents to completion. Stevethen worked with EagleView Partners as theVP of Properties, overseeing new and existing projects with a mix of uses such as residential, commercial, office, and hospitality such as hotels and restaurants. Salida Partners, LLC was created in 2018 to combine the years of experience in public, private and communityowned opportunities in a wide variety of creative new construction and the adaptive reuse of residential, commercial, office, restaurant and hotel projects in Iowa and Colorado with a combined value of over $200 million. Steve is experienced in getting projects out of the ground through working with the community and blending community & economic development programsthrough a variety of federal, state, local, and private funding sources and reviewing proformas and budgets to make the projects successful. Programs and projects include master planning, downtown and neighborhood infill, all types of housing, new construction ofmil buildings, adaptive reuse, hospitality/hotels/restaurants/bars and commercial/office, business/ development assistance, and analyzing community or project needs. He partners with investors, lenders, building owners, landowners, business owners and municipalities to solve planning, development and financial issues to make projects succeed. He also considers regulatory requirements and financial implications, making sure that projects work financially, and become assets to their communities with thoughtful and sustainable design. 2.0 PRIMARY CONTACT PERSON Salida Partners Steve Long steve@salidapartners.com 319-621-3462 3.0 LEGAL NAME Salida Partners, LLC 308 E Burlington Street, #403 Iowa City, IA 52240 4.0 LEGAL ENTITY WITH WHOM THE CITY WOULD CONTRACT IC Development, LLC Steve Long &TBD 308 E Burlington Street, #403 Iowa City, IA 52240 5.0 ORGANIZATIONAL CHART STEVE LONG SALIDA PARTNERS MAIN POINT OF CONTACT steve@21idapartners.com 319.621.3462 SIMMONS PERRINE _UhiijilidERGMAN rir MATTHEW HEKTOEN LEGAL COUNSEL mhektoen@spmblawcom 319.896.4030 SIMEON TALLEY COMMUNITY DEVELOPMENT CONSULTANT simeontalley@gmail.com 202.657.9102 ADDITIONAL PROJECT PARTNERS John Schickendanz, Executive DlrectorThe Englet Theater Brent Stienzki, Executive Director The Stories Project Pat O'Leary, CSO Western Home Communities Simon Andrew, Executive DirectorThe Housing Fellowship Kris Spickler, Senior Mass Timber Ambassador SmEHLAM North America MARK SEABOLD, All LEED AP PRINCIPAL ARCHITECT mseabold@shive-hattery.com 319.248.3398 Skydeck capital JON TAIBER Jon@skydeckllccom PAUL ZAHARIA paul@skydeckllccom Sbmilisp'OJect a WeosternHome housing� W fellowship SMARTLAIVI I..!%.......I 6.0 EXPERIENCE Riverfront West/Replay - Iowa City 525 S Riverside Drive, Iowa City, IA 52246 Riverfrout West, LLC - co-owner N Contact Info: Assembled& acquired 17 parcels, hired manager for existing 118 apartments and Riverfront West LLC three commercial businesses until demolition. Led the rezoning, expanded Riverfront Kevin Kain Crossings zoning district and the subdivision plat process, procured the development kevink@dcigroup-us.com team, Including architect & engineers. Partnered with Sea nnelI Properties for the construction phase of the highly amenitized $100+ million 291-unit apartment building. Involved with the project until the anticipated completion date of July 2025. State Street Mixed -Use II - Cedar Falls, IA 100 E 2nd Street, Cedar Falls, IA 50613 SSMUII, LC - co-owner Contactimb: New construction of a four-story mixed -use building on an infill site in downtown SSMUII, LC Cedar Falls. The site was a former industrial area along the Cedar River and the project Kevin Kain used traditiona l fi nan cino, plus Brownfield Tax Credits, Tax l n crement Fin ancin g a no kevink@dcigroup-us.com Workforce Housing Tax Credits to fill the gap in financing. Managed City entitlement process, on a team to negotiate developer agreement, coordinated with architect from beginning through construction, managed construction contracts and process. The building was completed In Fall 2019. Continue to partdpate In monthly meetings with property management company. First floor consists of eight micro -retail spaces with shared restrooms. Retail spaces start at 650 SF and 100% occupied. Second floor is office space, shared amenities, six office users and is 100% occu pied. Third/fourth floors 24 apartments. Com m u nity spaces with amenities on the secono & third floors. 619 - 623 S Dubuque Street Iowa City, IA ICBUR, LLC- co-owner jj Contact info: Acquired commercial building in 2015 to provide affordable spaces for locally -owned ICBUR, LLC sma l l busi nesses. Maintain below market rents to foster growth for two locally -owned Suzanne Bentler businesses, Little Village Magazine and Plated Table, that otherwise may not be able to Su-bent@hotmaiLcom operate in downtown Iowa City. Plated Table Alex5mith 320First LLC-co-owner platedtable@gmail.com Salida, CO Acquired a historic1894 railroad hotel that had been converted in to medical offices in 1990. Converted from medical use to residential use. Managed all facets of renovation, including securing financing from a lender and investors, all City and County entitlements, interior demolition, hiring of architects & engineers, hired and managed project manager and subs, managed budgets, voluntarily designated one unit as the City'sfirstdeed restricted affordable for -sale condominium Fivetwo-bedroom units sold and the majority of the units sold to first-time homebuyers. Project completed in June 2024. On the following pages, our team's experience is highlighted with imagery of our project work. r 302 Main Street -Cedar Falls, IA s Riverfront West/Replay- Iowa City, IA 'I a a Cit 1 la If Irr Hotel Manning -community owned and operated - Keosauqua, IA Sxatiie Street ed-Use 11-Cedar Falls, IA318EFirst-Salida, Coloft Plated Table/ Little Village -Iowa City, IA S A L I DA PARTNERS --- welc s I� q, r1�II7. d lid SIGNA F �,� V Westerii,Home Communities - Iowa City, IA Me ..I Y 'ems 7B l 1T. — — — — — Local Roots ■ ■ ■ ■ ■ 111 r 1 National Reach ���■■e11111 ■■■■■111111 ■1111!�0;m 4 ��� = N i •i�Ili■■ maw, al�liaif r koi � �� I®1 A a SHIVEHATTCRY ARCHITECTURE+ENGINEERING ...a__�� all r _ _ -.. .r .... ',Ills =_'i ::-si 117•_ Ifiil' 2> q y Salt Shid Chuc g ,IL "• North Side Yard, Stevens ,WI , Urbane 210 • ROW Ego - 1, 'P'nG i '" . �t Ilk' _t•The Brio Building - iy e ` The Yards - South St. Pau1�19N; r , a; _ ThSouth St. Paul, MN .'720 N. Franklin Commercial Timber Loft, -;-.-- -�_�-- - - ----_ - .Chic o,1 - -.-:;- r a�� - _ oil ranklin Commercial TEmbe ��The Sait Sh Urbane 1220, Sioux C'ut� - The Tannery Creative Office Camp kee Chii�, IL Stivoec� October 31, 2024 City of Iowa City Attn: Mayor Bruce Teague, City Council and Staff 410 E Washington St Iowa City, IA 52240 Iowa City Stakeholders, The purpose of this letter is to introduce Skydeck as a potential capital partner in the 21 S Linn redevelopment project. Skydeck's owners have a long history of investing in Waal communities and tertiary markets, supporting their continued growth and expansion Skydeck's owners come from the energy sector and have built the largest privately held renewable energy company in North America. In addition, Skydeck was an early investor in one of the first mass timber suppliers in North America. Our experience with mass timber provides our team with a unique understanding of the benefits of tbis technology and is one of the reasons Mr. Long brought our group into the RFP process. Current market conditions represent an extremely challenging time for real estate development. Construction costs and interest rates remain exceptionally high, which are the primary reasons Skydeck rarely takes on development risk. 21 S Linn is a unique project for a multitude of reasons, chief among them is the innovative project design which is a direct response to community input. The development team has put forth a distinctive group of partner stakeholders in the form of unique commercial tenants and a highly differentiated residential tenant base, all which will benefit from the high quality of construction planned A project of this caliber will require the strong support of the community and partners to ensure its success. So far, Skydeck has been impressed from the engagement of many stakeholders and looks forward to participating in the process. Sincerely, 1 onathan Tdrber, Vice President nyeear L C oae sourh w cl , once Suite 1610 Chicago, In 60606 w skydecwk_ SIMEON TALLEY COMMUNITY DEVELOPMENT STRATEGIES Simeon Talley is an entrepreneur and community organizer currently I'iving In Iowa City, IA. While living in Iowa he has spearheaded several arts and culture related projects, operated retail businesses in Downtown Iowa City, founded political advocacy efforts aimed at engaging young voters and more He is now the project manager for Dream City's Regional Hub project, a City of Iowa City funded initiative to create a facility and programming that will serve underrepresented businesses in the community. l GROWING THE Stories Pro GREATEST SMALL CITY FOR THE ARTS � I 0oze�a Caty The Englert's plan to open a 250-capacity venue at 21 S Linn will be a significant addition to Iowa City's arts scene. This venue will enrich access to live performances, nurture diverse talent, and create new opportunities for collaboration within the local arts community —all while enhancing economic activity downtown. A FLEXIBLE SPACE FOR LIVE MUSIC, COMEDY, AND LITERARY EVENTS The new venue will provide a versatile space tailored to live music, comedy, and literary events, offering a unique environment that encourages patrons to engage and stay longer. Its adaptable design will allow for a range of artistic experiences, ensuring the venue becomes a hub for different genres and audiences. Rather than duplicating what other venues provide, this space will focus on creating an inviting atmosphere that draws attendees for extended periods, contributing to a more vibrant downtown experience. FILLING GAPS IN PROGRAMMING, NOT COMPETING WITH EXISTING VENUES Instead of competing with other Iowa City venues the venue will complement the city's arts ecosystem by filling gaps in programming and offering events that are not widely available. We remain committed to continuing ourstrong partnershipswith existing venues like Gabes, Wildwood, The James, and Trumpet Blossom Cafe, while bringing new performances to the community. This approach ensures that the venue will enhance, rather than compete with, the city's overall cultural offerings. NURTURING EMERGING ARTISTS This venue will serve as a crucial platform for emerging local and touring artists, offering a performance space where they can grow and connect with audiences in an intimate setting. By providing this smaller, more flexible venue, we will help develop new talent and support a thriving arts ecosystem, fostering artistic diversity in Iowa City. STRENGTHENING PARTNERSHIPS WITH NON-PROFITARTS ORGANIZATIONS A key benefit of this venue will be the increased opportunity for collaboration with local non-profit arts organizations, especially those that lack permanent spaces of their own. The new venue will provide these groups with a flexible, high -quality performance space, helping them to expand their reach and host events that bring the community together. These partnerships will allow for a richer, more collaborative arts scene, with a broader range of events and experiences available to the public. Stories Project has sought to work with a development partner to create a museum to celebrate Iowa City's great local heritage of storytelling. This destination will expand audiences for the arts of the written word — and attract new visitors to Iowa City. We are excited and pleased to join the innovative proposal from Salida Partners and Shive-Hattery Architecture and Engineering to redevelop the city -owned lot at 21 South Linn Street. An Immersive Museum of Storytelling The museum space will provide a modem, interactive experience to celebrate storytelling in its many forms — music, games, nonfiction, film, television, and more. But we'll also remind visitors of the value of the written word, hopefully inspiring them to make reading a greater part of their lives. We envision a multi -hour experience, after which visitors will exit to explore other aspects of our great UNESCO City of Literature. A Product of our Community Stories Project has been an aspiration of our community since 2008. In that year, a coalition of local stakeholders — civic groups, businesses, arts organizations, city governments, and the University of Iowa — secured $20 million in state funding toward a planned $50 million project. But immediately before work could begin, catastrophic floods devastated our region, and all state funding was diverted to disaster relief. A new Stories Project in 2024 will serve all aspects of our community — schools, the University of Iowa, as well as diverse literary, community, and arts organizations. And if we're fortunate enough to be in a building that includes a new performance venue run by Englert Theater, we'll hope collaborate on literary programming there as well. A Part of our Future We feel the time for Stories Project has come. And there's no better location than 21 South Linn. Please see full materials in our Appendix, included with this application. 7.0 FINANCIAL CAPACITY Salida Partners was founded in 2018 and has been involved and participated in over$200 million in development projects in Iowa and in Colorado. Salida Partners, and its founder, have long-term relationships with local lenders and have worked with MidWest One Bank and Hills Bank on a variety of projects. In addition, equity partners often participate in projects. For this project, both Skydeck Capital and Mid West One have expressed interest in participating. It is likely that additional financial entities familiar with Skydeck Capital will be involved once the construction documents are at a level to get accurate cost estimates. An exam pie of the type of funding used for a previous project, is the nearly $10 million mixed -use project at 100 E 2nd Street in Cedar Falls. The funding package included a commercial loan from a local lender (for both construction financing and permanent financing), equityfrom development partners, Brownfield Tax Credits, Workforce Housing Tax Credits, and Tax Increment Financing. The mix of fund types ensured that the project was successful and is the reason that it is still successful. The mixed -use building includes micro -retail spaces on the fi rst floor facing Second Street and a new outdoor community plaza, right -sized office space on the second floor and a mix of studios and one- bedroom apartments on floors three and four. Prior to construction, it was a vacant industrial parcel thatwas most recently, a gravel parking Iot.The building added much needed vita city to a formerly very quiet area of downtown. 8.0 PROPOSED PROJECT NARRATIVE Salida Partners response provides spaces for those who want and need a downtown presence to succeed and to help diversifythe offerings in downtown Iowa City By partnering With established performance venue providers, emerging museum partners, senior and affordable housing providers, artists, small business owners, emerging chefs, and City of Iowa City occupied office space this development will have a synergy of uses where visitors will be coming for many reasons during the day, energizing this corner site with activity from early in the morning, increasing the diversity of people working, living, and visiting downtown. Tenant spaces are blurred together so interaction flows naturally, allowing for serendipity and discovery. This mixed -use concept of inclusion creates an environment where visitors and Iowa City residents will be attracted to Iowa City's downtown. This wiill drive traffic and opportunities to our existing downtown businesses and add to our pedestrian - oriented, authentic urban center providing a safe and inviting environment. Seesection 10.0 for additional information. 9.0 CITY OFFICE SPACE Salida Partners expects to provide space for the City of Iowa to lease or own. We see this as a benefit to this development proposal as it allows more people to visit downtown and interact with the other buildings uses and tenants. This space is easily converted or eliminated depending on the City's final decision. Please refer to Section 10 for more information. ny � IIANNin —�— CITY INITIATED PUBLIC SURVEY RESULTS Salida Partners has reviewed the 21 S Linn Public Input Survey and has carefully considered the results. The survey indicates that respondents were looking fora projectthat is in alignmentwith the City's intentfora mixed -use redevelopment with the following take aways: INVITING TO THE PUBLIC: Foster an inclusive urban experience, in which the general public feels welcome to access space In the new development. Appeal to a variety of ages and increase options for spending time downtown. SPACE FOR NEW OPPORTUNITIES: (without compromising our strengths): People come downtown for the arts and culture, fun public spaces, and wide selection of food and drink. However, they also desire new and unique opportunities which fill the "gaps" —retail; dining, entertainment, and other experiences that aren't alcohol - centric, and housing options that diversify the everyday users of downtown. • AUTHENTIC URBAN EXPERIENCE: Achieve redevelopment where the Downtowns character meets modern amenities, prioritizing economic viability, walkability and multi -modal transportation, safety and cleanliness, and Interesting and engaging street -level design. • CONSIDER GEOGRAPHIC ASSETS: 21 S. Linn's shares close proximity with many key assets that were valued through the public input: the Tower Place Ramp for parking, the Library and Senior Center for civic connection, and the Englert, HImScene at the Chauncey, and Studio 13 for arts and culture opportunities are all examples. DEVELOPER INITIATED STAKEHOLDER PARTNER MEETING This developmentteam has also metwith a group of individuals and stakeholder partners to help us gain additional input from established business owners, artists, and those making an impact on the character of our downtown. Attendees included- Simeon Talley (Community Development Strategies), Steve Long (Salida Partners), Jon Taiber (Skydeck Capital), Mark Sea bold (Shive-Hattery), John Schickendanz (Englert Theatre), Brent Sturisk! (Stories Project), Vivian Pei (Snacky Mini -Mart), Heather Uttenback (Spare Me), Cary Gerlach (BetterTogether 2030), John Englebrecht (Public Space One), Thomas Algran (Muralist/Arost), Clarity Guerra (Board member of IC Bike Library), Michelle Galvin (Velvet Coat), Jordan Sellergren (Little Village Magazine), Aly High (Shive-Hattery), Connor Mol len beck (Shive-Hattery & Day Drink). Ou rfirst question for the group was asking each person about their most memorable experience downtown. Everyone responded with a favorite memory that started with them coming Downtown for one thing and it leading to an unexpected and/or serendipitous experience and interaction. Going to the Englert for a Mission Creek show, not knowing the artist, and leaving blown away. Stumbling upon an art installation that's spilling out onto the street and draws you into a random basement. Dinner that was intended to be with a few friends that ends up being dinner and drinks with lots of friends. "It's experiences like these that make Iowa Cityspecial and allow people to feel a sense of community and connectedness. Can a mixed -use development project embody this?" Other observations included: • Downtown Iowa City has bar mers for our smal I businesses due to available space. • Small, locally owned businesses are challenged with Increasing rents downtown. • Buildings are being purchased by development groups that have no interest in tenants that energize what makes Iowa City great. • Our local entrepreneurs, business owners and fantastic food vendors need affordable space downtown. •These new tenant uses will drive traffic to and not compete with existing businesses. Salida Partners'response provides spaces for those who want and need a downtown presence to succeed and to help diversifythe offerings in downtown Iowa City By partnering with established performance venue providers, emerging museum partners, senior and affordable housing providers, artists, small business owners, emerging chefs, and City of Iowa City occupied office space this development wii l l have a synergy of uses where visitors wiI l becoming for many reasons during the day, energizing this corner site with activity from early in the morning, increasing the diversity of people working, living, and visiting downtown. Tenant spaces are blurred together so interaction flows naturally, allowing for serendipity and discovery. This mixed -use concept of inclusion creates an environment where visitors and Iowa City residents will be attracted to Iowa City's downtown. This wiill drive traffic and opportunities to our existing downtown businesses and add to our pedestrian - oriented, authentic urban center providing a safe and inviting environment. DESIGN THAT CONNECTS, ENGAGES, AND CELEBRATESTNE ARTS The following are descriptions of the multiple spaces, tenants and users that will be accommodated within this mixed -use development. VISUAL AND PREFORMING ARTS ALLEY By separating this development project from the building next door by a 20 foot wide"Art Alley"this project provides a space for the visual and preforming arts. Open to the public, this space preserves the history of Iowa City by highlighting the existing brick building fapade next door This provides a fantastic opportunity for viewing artwork including the current UAY Mural. It also allows for an additional public face of the development for increased connection to the City of Iowa City at the first three levels with views and natural light The existing brick but Iding provides multi -story views to the exterior character of the downtown as wel I as a space of immersion into art. Working with PSI and other art organizations we envision an opportunity for suspended art within the space providing an overhead installation that can be a changing exhibit fore merging artists as well as additional space for projected or applied arts. Tiered seating at the rear of the exterior space provides for the opportunity of a second exterior stage for the performance venue. The Art Alley is connected to the entertainment venue and its front of house space providing outdoor seating, natural light, and views. It is visually connected to the upper -level seating areas and flex office spaces creating an interaction with art and downtown. * This project preserves the functions ofthe exsting alley including access to businesses and critical services and will coordinate any temporary removal and/ or reconfiguration or replacement of the existing overhead lighting installation. ENTERTAINMENT VENUE (BILLY'S)-10,000 SF We are working with the Englert Theatre to provide a missing entertainment venue in Iowa City. By creating a 2-story venue with viewing balcony this project adds to the variety of performance spaces available and offers Iowa City the opportunity to secure additional performers as they pass through on 1-80. This venue is sized to support programming with the Stories Project, The Downtown District, and other community organizations and can be opened into the Art Alley. The"Community Living Room"! xcludes many forms of seating including lounge areas and tables and chairs inside the venue, on ground floor, within the Art Alley, and on the second level. There is additional office space and amenities on the second level as well. Patrons and the public have the opportunity for early morning meetings, lunch, drinks and a meal before a show, and discussion afterward. This ground floor space fosters interaction and discussion and is the base forth entire development connected to the community. Food and drinks are provided by Micro Kitchens. The ven ue's ground floor location allows for easy load in for performers and creates a greater connection for the artists to our community. As aground floor tenant visuallyopen to the street and ArtAlley this new gatherrngspace rs an active and engaging commerdal usefordownrown. STORIES PROJECT -INITIAL 8,000 - 10,000 SF WITH EXPANDABILITY TO 30,000 SF Iowa City's literary history, UNESCO City of Literature status, and The University of Iowa's acclaimed Writers Workshop, International Writers Program and Cinematic Arts programs all showcase Iowa City's rich tradition In storytelling. Stories Project of Iowa City seeks to create an interactive museum to celebrate storytelling in all its forms - notj et fictio n and poetry, but stories in film, television, games, song lyres, podcasts, and more. Through engaging, interactive experiences we'll introduce visitors to stories they've never encountered - and challenge them to take a deeper look at the ones they thought they already knew. Our goal: to do what we can to inspire Americans, of all ages, to make time to read, thereby promoting literacy in America. The Washington and Linn Street facades highlight the Stories Project with glimpses to the museum and signage including an interactive installation at the main entrance providing a visual cue for out-of- town visitors. This will be an identifiable downtown landmark for Iowa City's literary and UNESCO heritage connected to the ground floor with a signature stair that establishes a visual connection to the Stories Project entrance on second level. This project provides an expandable footprint for the Stories Project Interactive Museum that can flex and grow as the Museum evolves during the initial design phase or in the future. As a new Destination Venue5tories Projectbrings tourism to downtown, extending visitors stays and allows Iowa Cirya destination to present its amazing Itteraryhrstory The ground floor entry and presence establishes theconnection with thedowntown. CITY OF IOWA CITY - CITY OFFICES The REP states that the City of Iowa City is interested in leasing or owning 25,000 square feet of commercial space. This project provides that space on floors ion r and five giving the City a more l visible downtown location tied to other uses on the former City t Hall site. By working with the City of Iowa City, we hope to give `t Ar'lll f the public many reasons to visit this building, expanding on the �yA1111110®r��� opportunity to connect with others. Rooftopvenue CITY OF IOWA CITY Rooftop views in Iowa City are special and rarely available. This UNESCO CITY OF LITERATURE project incorporates a rooftop enclosed pavilion and exterior space that can be programmed for events with The Englert and the Stories Project. -s t WHERE MARKET RATE MEETS AFFORDABLE -A DESIGN FOR EVERYONE By lowering barriers, this project paves the way for downtown businesses to grow. Micro retail This project provides five 300 SF micro retail spaces providing affordable space to those seeking to establish a retail busi- ness or service use. Providing tenant entrances along Linn Street helps energize and support other local businesses like AKAR, Om, MammHas Coffee and Flowers, Record Co hector, The Art Mission, Stan's Barber Shop, Critical Hit Games, Baronci- ni Ristorante, Release, Zen Salon, Tem pie etc. These spaces supportlowa City's small business culture and drive more business and patrons downtown. Micro food/ Micro kitchens Front of House for the entertai nment venue is meant to become a"Community Living Room"with leasable kitchens serving food to patrons a nd visitors. These spaces a I low for a variety of culinary options from some of Iowa City's favorite street ven- dors looking for space With other fellow cu Iina ry partners to offer ava riety of rotating food optio ns. The intern al"food truck" approach also allows for serving outside into the Art Alley, blurring the line between inside and out. With changing menus and food providers the options for dining appeal to multiple demographics. New food concepts offer drfference rn food venues drawing people downtown. Flex office suites Options for small businesses downtown are limited. This project identifies the need for additional commercial office space that can have individual office suites and shared resources for local businesses looking to locate downtown. Flex office space lowers barriers to small businesses hoping to locate to downtown Iowa Ctty Emerging artist gallery At the second level lobby circulation space there is wall area available to have a rotating exhibit of local emerging artists. This main throughfa re allows for a "Gallery Walk"venue downtown dedicated to expanding the opportunities for emerging artists'visibility. This project strives to have a'No Bla nk Wal Is" policy for a I pu bfic spaces, high lighting local artists. EXPANDING ON HOUSING OPTIONS FOR DOWNTOWN IOWA CITY The Salida Partners team has experience in providing market, affordable, and senior residential units. ❑�_j/,� Artist and Writer Housing =r Working with The University of Iowa's International Writers Program this project provides units for the short-term housing of international writing students. There wi l l also be apartments available for Englert Theatre performers and other short-term rentals. Affordable Housing This team is working With the Housing Fellowship to provide needed affordable housing in the downtown area. These 6two-bedroom apartments are priced to lower the costs of living in Iowa City's downtown where the connection tojobs and transportation is critical for Iowa City's success. 20%of the rental housing is projected to be affordable Senior Housing This team is working with Western Home Communities, an established Iowa based senior provider, `. to provide 16 units dedicated to age restricted housing with the promise of continued care at their local campus currently under construction. 50% of the housing is projected to be age restricted senior housing. Market Rate Housing `. The remaining i.Units will be available for market rate rental. The units area mix of studios, and one, two, and three bedroom units. TNEARCNITECTURE The architecture supports this connection to downtown by engaging with the ground level and by breaking the building massing into pieces that reflect the downtown rhythm. We leave an"empty lot"to provide a ground level Art Alley as a public plaza to increase views, natural light, and a visual connection to down- town Iowa City. Material changes and step backs respect and complement the adjacent historic properties and relate to the scale ofthe downtown area. The building's transparency and multi -level open spaces connect it to the com- munity visually. Glass walls allow for around the clock interaction between inside and out with public spaces available to all. The main public use tenant areas are spread throughout the lower 3 floors creating a constructive interaction with the various uses. Uover floors for office and residential uses are visually open for the fantastic views and connection with the downtown. MASS TIMBER Salida Partners has chosen to use a mass timber building structure. Mass Timber has a long history for urban downtown buildings that have stood the test of ti me. Mass Timber is making a comeback because of its longevity and sustainable attri- butes. This is considered a high -quality construction type. Skydeck has extensive experience In using mass timber in development proj- ects. Utilizing SmartLam as our mass timber consultant has allowed initial design schemes to reflect the construction type SUSTAINABILITY Working with local contractors, the project will bedesigned to achieve LEED Silveror better in rough efficient building systems, locally sourced materials, and sustainable building practices. The Mass timber structure allows for flexibility in tenanting/retenanting the spaces giving the building a long-term reuse strategy. Utilizing all electric building systems eliminates the reliance on fossil fuels. The following is a list of current sustainability considerations: • Reuse of an Urban Site • Provide EV Charging fora portion of parking spaces • Promote Connected Sites— micromobility infrastructure. -Secure Bike Storage -Pedestrian Friendly -Access to public transportation • Minimize Heat Island Effect — reflective roofing/ street trees/ shade canopies • Integrate Green /Vegetated Roofs • Minimize Light Pollution • Bird Proofing large window areas • Specifying lowflow plumbing fixtures for residential and public spaces • Roof Top Photovoltaics • All Electric/ Efficient Building Systems • Source Natural, Local Materialswhere possible • Utilize Low Carbon Materials like Mass Timber • Specify Low VOC Materials • Provide Thermal Comfort for Occupants • Promote dayfighting of Occupied Spaces • Prioritize Vttal Daylight and Views • Inspire Motion by providing stairways with natural lighting and views • Provide Sensory Elements • Improve Access to Healthy Food and Services • Design with Future Flexibility in Mind io \o 0 L GROUND LEVEL - SITE PLAN DIAGRAM 21 S Linn Development Site C� L L I� I (I D-1 101 - Q Q � Washington Street Lo 0-- - CI 21 S Linn Street, Iowa City, IA 52240 2240008540 10-31-2024 SHIVEFIATTERY Parking Requirements for current concept = 18 Parking Spaces No parking is required for non-residential uses 14 - Short Term Stay apartments — no parking requirements 6 - Affordable Housing Units — no parking requirements 16 Senior Living Housing Units — 1 space for every 2 dwelling units = 8 spaces 10 Market Rate Housing Units - 2 - Efficiency apartment = 2 x .5 spaces per unit = 1 space 2 - One Bedroom units = 2 x .5 spaces per unit = 1 space 5 — Two Bedroom Units = 4 x 1 space per units = 5 spaces 1 — Three Bedroom Units = 2 x 2.5 spaces per unit = 2.5 spaces Total Market Rate Parking Spaces = 9.5 = 10 spaces PARKING LEVEL - PLAN DIAGRAM AO 21 S Linn Street, Iowa City, IA 52240 2240008540 10-31-2024 SHNC--FIATTC—RY Billy's = 6,900 SF includes venue, "Community Living Room", micro kitchens, and back of house space. Micro Retail = 1,800 SF includes five - 300 SF retail spaces with back of house access to rest rooms Common Area = 2,800 SF includes main lobby, stair to second floor, and vertical circulation all square footages aed layouts aie app.A—le at this ti GROUND LEVEL - PLAN DIAGRAM eras trash/ recycling recycling back 1 I en r o rooms/1housestorage - green roolns/storage 2-story venue 300 SF2'. SF 300 SF rem 300 SF- 300 SF- 300 SF Art Alley 3,5(0 SF restrooms II �I y'S i front of house - ain lobby/ ~ "wminunity living looSt m'• Q vies Project Washington Street 21 S Linn Street, Iowa City, IA 52240 2240008540 10-31-2024 SHIVC—FIATTC—RY Billy's = 3,700 SF includes balcony , third space/ seating, office, coffee/ bar and partial restrooms Stories Project = 3,700 SF entrance lobby, gift shop, gallery space and partial restrooms Common Area = 3,400 SF includes emerging artists gallery, lobby, and vertical circulation all square footages and layouts aie appmxi—le at this ti SECOND LEVEL - PLAN DIAGRAM 21 S Linn Street, Iowa City, IA 52240 NEIGHBORING meth open to pelow r�3,50 Project m SF bal�Qny m 600 $F coffee/bar/ 11 m restrooms \ thirl space/seati� A2 2240008540 10-31-2024 SHIVC—FIATTC—RY Stories Project = 5,550 SF includes third level galleries space (expandable into flex office a possibility) Flex Office Space = 5,300 SF includes demisable area for office suites Common Area = 1,150 SF includes lobby, and vertical circulation all square footages and layouts am approximate at this time THIRD LEVEL - PLAN DIAGRAM NEIGHBORING PROPERTIES A3 21 S Linn Street, Iowa City, IA 52240 2240008540 10-31-2024 SHIVC—FIATTC—RY City of Iowa City Office Space - 20,130 SF (10,065 each floor) total square footage available on 4th and 5th floors. Additional area is available on 3rd floor Common Area = 1,114 SF includes lobby, and vertical circulation all square footages and layouts am approximate at this time FOURTH & FIFTH LEVELS - PLAN DIAGRAM A4-5 21 S Linn Street, Iowa City, IA 52240 2240008540 10-31-2024 SHIVC—FIATTC—RY Total Area of Leasable Units - 9,012 SF apartment layout for short term stay units Common Area = 2,097 SF includes lobby, and vertical circulation all square footag. and layouts am approximate at this time SIXTH LEVEL - PLAN DIAGRAM Unit 14 Unit 13 967 SF 645 SF Unit 12 Unit 11 525 SF 585 SF Unit 10 Unit 9 525 SF 585 SF Unit 8 Unit 7 525 SF 585 SF Unit 6 525 SF Unit 5 585 SF unit 4 m 25 SF Unit 3 Unit 2 Unit 1 846 SF 691 SF 550 SF A6 21 S Linn Street, Iowa City, IA 52240 2240008540 10-31-2024 SHIVC—FIATTC—RY Total Area of Leasable Units - 9,012 SF apartment layout approximate - mix of affordable, senior and market rate units on each floor Common Area = 2,097 SF includes lobby, and vertical circulation all square footages and layouts aro approximate at this ti SEVENTH, EIGHTH, NINTH, AND TENTH LEVEL (TYP RESIDENTIAL) - PLAN DIAGRAM 21 S Linn Street, Iowa City, IA 52240 Un@ 8 Und 7 2 Bedroom 2 Bedroom 1,493 SF 1,219 SF - Un@ 6 Un@ 5 2 Bedroom. 1,050 SF 2 Bedroorr 1,170 SF Un@ 4 Unit 3 2 Bedroom 1 Bedroo 1,050 SF 750 Und2 Un@1 3 Bed. Lott 1,644 SF 550 SF I A7-10 2240008540 10-31-2024 SHIVC—FIATTC—RY ELEVENTH LEVEL ROOF PAVILION 1 PATIO - PLAN DIAGRAM A11 21 S Linn Street, Iowa City, IA 52240 2240008540 10-31-2024 SHIVC—FIATTERY SOUTH ELEVATION -Washington Street CONCEPTUAL ELEVATIONS EAST ELEVATION - Linn Street 21 S Linn Street, Iowa City, IA52240 2240008540 10-31-2024 SHIVCFIATTC-RY Top of Buibiig - 140'-0' '^I Eleventh Fbor- 126'-0' Tenth Floor- 114'-0' Eighth Floor- 00'-0' Seventh Floor- 78'-0' Si#h Floor-66'-0" Fifth Floor - M'-0' Fourth Floor- 42'-0' Third Fbor- 30"-0' Floor fo fbor and overall buiMiig heights are.. —by set by initial Mass Timber nlculatiore aM may charge danig design NORTH ELEVATION -Alley CONCEPTUAL ELEVATIONS WEST ELEVATION - Art Alley 21 S Linn Street, Iowa City, IA52240 2240008540 10-31-2024 SHIVCFIATTERY 411 f1 `s 6 Caf IOCAL G I "y lip MI _; � - � - i � ,I � _ ..d■ Wit- - 1 I w; r. DOWNTOWN IOWA CITY -AERIAL VIEW 21 S Linn Street, Iowa City, IA52240 2240008540 10-31-2024 SHIVCFIATTC-RY DOWNTOWN IOWA CITY -AERIAL VIEW WITH PROPOSED BUILDING 21 S Linn Street, Iowa City, IA52240 2240008540 10-31-2024 SHIVCFIATTERY 11.0 FINANCING PLAN 113. Salida Partnerswill work closely with the develop ment team to clearly outline the project's goals, scope and deliverables. This typically involves a multifaceted approach that encompasses various phases, including planning, financing, design, construction, and marketing. This project is envisioned to be a Design Build project with a selected team consisting of, but not limited to, the Architect, engineers, legal counsel, financial analysts, and a local General Contractor Throughoutthe design and construction phase, theteam is consistently monitoring and identifying risks, such as market fluctuations, construction delays and any regulatory changes and then identifying contingency plans to address any identified risks Once the project is underwaythen the team will workwith the prospective tenants to begin the interior design and tenant improvements schedule. As the project progresses then marketing will begin for the available commercial and residential spaces. We have learned that detailed planning, strong financial management, constant communication, and ongoing stakeholder engagement ensures project success. 11 b. If awarded in spring of 2025 we envision the project breaking ground in spring of 2026 with project completion date offal)/winter 2027. 11 c. After extensively reviewing the REP and listening to the community, this project will require Salida Partners, our equity partners and the City to work together in orderto makethe project financially feasible We have the unique opportunity to create a space in downtown Iowa City that will foster a welcoming and inclusive space for the community The new space will support smaller performances and a community living room with art, music and food for thewell-establishedEnglert Theater, an Art Walk between the buildings, and the new museum quality flex space for the Stories Project that coincides with Iowa City's designation as a UNESCO City of Literature. There will also be pop-up art spaces and micro -retail spaces a long Linn Street to foster new ideas for retail and to activate a nowquietstretch of Linn Street The building will also include upto 25,000 SF of office space for the City of Iowa City, flexible and right -sized office space, 14short-term rentals reserved forthe International Writing Program, Englert performers and others visiting Iowa City, up to 16 apartments for Western Home Communities for seniors, 6 apartments for affordable rental forThe Housing Fellowship and 10 market rate apartments The building will be constructed using structural mass timber which brings not only a sustainable material, but also a warmer feeling than traditional steel and concrete Thiswill bethefirst mass timber building in Iowa City Ourteam secured preliminary construction bids from two general contractors with offices in Iowa City, Russell Construction and the DCI Group. Both have extensive experience with the construction of mixed -use buildings in Iowa and throughout the Midwest. In addition, Russell worked with StructureCraftand ourteam worked with Smartlam to receive bids for the mass timber structural portion ofthe project. Both Structu reC raft and Smartlam have a long history with the production, creation and erection of mass timber buildings. Salida Partners worked with the Iowa City Assessor's office to determine an estimated taxable assessed value of approximately $37 million. This estimated value will generate an additional $1 million in property taxes annually and once the protected debt levy is removed, approximately $800,000 annually in funds that could be used for Tax Increment Financing (TIF) as financial assistance to the project 11.0 FINANCING PLAN The projectwill befundedthrough a combination of lender financing, equity, TIT, the donation ofthe land and other sources that may arise Wewill identify and secure construction financing as the project is refined. The construction estimates were both close n price for being at this stage in the project. We are using an estimated total delivery cost of $52,900,000 for the project. This cost includes the use of mass timber, in addition to meeting all requirementsto receive TlFfunds. Two proformas are attached, both assume full use of the $800,000 in an nuaI TI F rebate funds and the purchase oft he land from the City for $1. -The Market Rate proforma shows income based on market rate rents for all office, commercial and residential, minus the six affordable THE residential units. -The Reduced Rate proforma shows income based on reduced rents forthe Englert Theater, Stories Project, City offices and the six affordable THE residential units. Both proformas show a gap in financing to make the projects viable, despite the use ofTIF funds and the land cost at $1. We are open and excited to discuss with City Staff and City Council members options such as mass timber grants, Workforce Housing Tax Credits, Brownfield Tax Credits, etc.. to fill that gap. Proformas included on the following pages. 11 d. Included in our submission are several letters of interest and support of this project. Those letters can be found in the following pages, section 14.0, and in our appendix. 11 e.Ourteam will employ both a conventional marketing strategy to identify and secure tenants as well as a strategy rooted in community outreach and partnerships. We are committed to working with organizations such at the Downtown District, Greater Iowa City, Better Together 2030, MDC Iowa, Dream City, Kick -It and more to identify a pool of eligible and diverse local businesses. We believe that our right -sized commercial spaces will have wide appeal and we are committed to working inclusively to fill them. 11f. Salida Partnersin proposing that the purchase price of the land be $1 and in return the community will receive a tremendous public benefit through new right -sized micro -retail spaces that are currently not available in downtown, a "community living room"that encourages interactions amongst a diverse community in a space designed fora nexus of occasions through art, literature, food, music and an overall sense of belonging. In addition, 20%of the residential homes will beaffordablefor households making lessthan 60% ofthe Area Median Income Plus,the buildingwill use masstimber construction that not only provides a comfortable environment of wood beams & ceilings combined with concrete and glass, but it is also constructed of natural sustainable materials that are structural in nature. 11 g. Reference narrative in section 1 1 c. 1 1.0 FINANCING PLAN PRO FORMA -Market Rate 21 S Linn St, Iowa City, IA SALIDA PARTNERS REVENUES YEAR 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Gross Residential Rent 1,541,640 1,587,889 1,635,526 1,684,592 1,735,129 1,787,183 1,840,799 1,896,023 1,952,903 2,011,491 2,071,835 2,133,990 2,198,010 2,263,950 2,331,869 +Other Income 860,000 885,800 912,374 939,745 967,938 996,976 1,026,885 1,057,692 1,089,422 1,122,105 1,155,768 1,190,441 1,226,154 1,262,939 1,300,827 - Residential Vacancy 120 082 123 684684 76437 78730 81 092 83525 86 031 88 611 91270 94 008 96 828 99733 102725 105 807 108.981 = Residential Income 1,421,558 1,464,205 1,559,089 1,605,862 1,654,037 1,703,659 1,754,768 1,807,411 1,861,634 1,917,483 1,975,007 2,034,257 2,095,285 2,158,144 2,222,888 Gross Commercial Rent 1,172,000 1,207,160 1,243,375 1,280,676 1,319,096 1,358,669 1,399,429 1,441,412 1,484,655 1,529,194 1,575,070 1,622,322 1,670,992 1,721,122 1,772,755 +Tenant Contributions 610 000 622 200200 634 644 647337 660 284284 673489 686959 700 698 714 712712 729 006 743587 758458 773 627 789 100 804.882 =Commercial Rent 1,782,000 1,829,360 1,878,019 1,928,013 1,979,380 2,032,159 2,086,388 2,142,110 2,199,367 2,258,201 2,318,657 2,380,780 2,444,619 2,510,222 2,577,637 - Commercial Vacancy 89 100 91468 56341 57 840 59381 60965 62592 64263 65981 67 746746 69560 71423 73339 75307 77329 =Commercial Income 1,692,900 1,737,892 1,821,678 1,870,173 1,919,999 1,971,194 2,023,797 2,077,847 2,133,386 2,190,455 2,249,097 2,309,357 2,371,281 2,434,915 2,500,308 =Effective Gross Income 3,974,458 4,087,897 4,293,141 4,415,779 4,541,974 4,671,828 4,805,450 4,942,950 5,084,442 5,230,042 5,379,872 5,534,056 5,692,720 5,855,998 6,024,023 Operating Expenses Management Fees 198,723 202,697 206,751 210,886 215,104 219,406 223,794 228,270 232,836 237,492 242,242 247,087 252,029 257,069 262,211 Advertise/Market 39,745 40,539 41,350 42,177 43,021 43,881 44,759 45,654 46,567 47,498 48,448 49,417 50,406 51,414 52,442 Legal/Administrative 20,000 20,400 20,808 21,224 21,649 22,082 22,523 22,974 23,433 23,902 24,380 24,867 25,365 25,872 26,390 Utilities and Trash 29,200 29,784 30,380 30,987 31,607 32,239 32,884 33,542 34,212 34,897 35,595 36,307 37,033 37,773 38,529 Maintenance/Repairs and Grounds 55,000 56,100 57,222 58,366 59,534 60,724 61,939 63,178 64,441 65,730 67,045 68,386 69,753 71,148 72,571 Real Estate Property Tax 1,000,000 1,020,000 1,040,400 1,061,208 1,082,432 1,104,081 1,126,162 1,148,686 1,171,659 1,195,093 1,218,994 1,243,374 1,268,242 1,293,607 1,319,479 Insurance 50,000 51,000 52,020 53,060 54,122 55,204 56,308 57,434 58,583 59,755 60,950 62,169 63,412 64,680 65,974 Other 50600 51000 52620 53660 54122 55204 56308 57434 58683 59755 60950 62169 63412 64680 65674 =Total Operating Expenses 1,442,667 1,471,521 1,500,951 1,530,970 1,561,590 1,592,821 1,624,678 1,657,171 1,690,315 1,724,121 1,758,604 1,793,776 1,829,651 1,866,244 1,903,569 -Transfer to Reserves 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 -Other Expenses 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 = Net Operating Income 2,481,791 2,566,376 2,742,190 2,834,809 2,930,384 3,029,006 3,130,772 3,235,778 3,344,127 3,455,921 3,571,269 3,690,280 3,813,069 3,939,753 4,070,454 - Debt Service (p+i) bank 3,067,428 3,067,428 3,067,428 3,067,428 3,067,428 3,067,428 3,067,428 3,067,428 3,067,428 3,067,428 3,067,428 3,067,428 3,067,428 3,067,428 3,067,428 - Other Debt Service (p+i) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 - Interest Only Loan Payments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 - Debt Service - Deferred Loans 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 - Debt Service (p+i) Developer 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 - Debt Service -CF Loan 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 =Cash Flow (585,637) (501,052) (325,238) (232,619) (137,044) (38,421) 63,344 168,351 276,699 388,493 503,841 622,852 745,641 872,325 1,003,026 - Partnership Management Fees - Incentive Management Fees = Cash Flow Available for (585,637) (501,052) (325,238) (232,619) (137,044) (38,421) 63,344 168,351 276,699 388,493 503,841 622,852 745,641 872,325 1,003,026 Distribution Debt Coverage Ratio -Bank Loan 0.81 0.84 0.89 0.92 0.96 0.99 1.02 1.05 1.09 1.13 1.16 1.20 1.24 1.28 1.33 Debt Coverage Ratio -All loans 0.81 0.84 0.89 0.92 0.96 0.99 1.02 1.05 1.09 1.13 1.16 1.20 1.24 1.28 1.33 Cash on Cash (e=CF/EQ) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1 1.0 FINANCING PLAN PRO FORMA -Reduced Rate 21 S Linn St, Iowa City, IA SALIDA PARTNERS REVENUES YEAR 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Gross Residential Rent 1,541,640 1,587,889 1,635,526 1,684,592 1,735,129 1,787,183 1,840,799 1,896,023 1,952,903 2,011,491 2,071,835 2,133,990 2,198,010 2,263,950 2,331,869 +Other Income 860,000 885,800 912,374 939,745 967,938 996,976 1,026,885 1,057,692 1,089,422 1,122,105 1,155,768 1,190,441 1,226,154 1,262,939 1,300,827 - Residential Vacancy 120 082082 123 684 76437 78730 81 092 83525 86 031 88 611 91270 94 008 96 828 99733 102725 105 807807 108981 =Resitlential Income 1,421,558 1,464,205 1,559,089 1,605,862 1,654,037 1,703,659 1,754,768 1,807,411 1,861,634 1,917,483 1,975,007 2,034,257 2,095,285 2,158,144 2,222,888 Gross Commercial Rent 761,660 784,510 808,045 832,286 857,255 882,973 909,462 936,746 964,848 993,794 1,023,607 1,054,316 1,085,945 1,118,523 1,152,079 +Tenant Contributions 610 000000 622200 634 644644 647337 660284 673489 686959 700 698 714 712712 729 006 743587 758458 773 627 789 100100 804 882 = Commercial Rent 1 ,371 ,660 1,406,710 1,442,689 1,479,623 1,517,539 1,556,462 1,596,421 1,637,444 1,679,560 1,722,800 1,767,194 1,812,774 1,859,573 1,907,623 1,956,961 - Commercial Vacancy 68383 70335 43281 44389 45326 46094 47393 49123 50387 51084 53016 54383 55787 57229 58709 =Commercial Income 1,303,077 1,336,374 1,399,408 1,435,235 1,472,012 1,509,768 1,548,528 1,588,321 1,629,174 1,671,116 1,714,178 1,758,391 1,803,785 1,850,395 1,898,252 = Effective Gross Income 3,584,635 3,686,379 3,870,871 3,980,841 4,093,987 4,210,402 4,330,182 4,453,424 4,580,229 4,710,704 4,844,953 4,983,089 5,125,225 5,271,477 5,421,967 Operating Expenses Management Fees 179,232 182,816 186,473 190,202 194,006 197,886 201,844 205,881 209,999 214,199 218,483 222,852 227,309 231,855 236,492 Advertise/Market 35,846 36,563 37,295 38,040 38,801 39,577 40,369 41,176 42,000 42,840 43,697 44,570 45,462 46,371 47,298 Legal/Administrative 20,000 20,400 20,808 21,224 21,649 22,082 22,523 22,974 23,433 23,902 24,380 24,867 25,365 25,872 26,390 Utilities and Trash 29,200 29,784 30,380 30,987 31,607 32,239 32,884 33,542 34,212 34,897 35,595 36,307 37,033 37,773 38,529 Maintenance/Repairs and Grounds 55,000 56,100 57,222 58,366 59,534 60,724 61,939 63,178 64,441 65,730 67,045 68,386 69,753 71,148 72,571 Real Estate Property Tax 1,000,000 1,020,000 1,040,400 1,061 ,208 1,082,432 1,104,081 1,126,162 1,148,686 1 ,171 ,659 1,195,093 1,218,994 1,243,374 1,268,242 1,293,607 1,319,479 Insurance 50,000 51,000 52,020 53,060 54,122 55,204 56,308 57,434 58,583 59,755 60,950 62,169 63,412 64,680 65,974 Other 50 000 51 000 52 020 53 060 54 122 55204 56308 57434 58583 59755 60950 62 169 63412 64 680 65974 =Total Operating Expenses 1,419,278 1,447,664 1,476,617 1,506,149 1,536,272 1,566,998 1,598,338 1,630,304 1,662,911 1,696,169 1,730,092 1,764,694 1,799,988 1,835,988 1,872,707 -Transfer to Reserves 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 -Other Expenses 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 = Net Operating Income 2,115,357 2,188,715 2,344,254 2,424,692 2,507,715 2,593,405 2,681,844 2,773,119 2,867,319 2,964,535 3,064,861 3,168,395 3,275,237 3,385,490 3,499,260 - Debt Service (p+i) bank 3,067,428 3,067,428 3,067,428 3,067,428 3,067,428 3,067,428 3,067,428 3,067,428 3,067,428 3,067,428 3,067,428 3,067,428 3,067,428 3,067,428 3,067,428 - Other Debt Service (p+i) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 - Interest Only Loan Payments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 - Debt Service - Deferred Loans 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 - Debt Service (p+i) Developer 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 - Debt Service -CF Loan 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 =Cash Flow (952,071) (878,713) (723,174) (642,736) (559,713) (474,023) (385,584) (294,309) (200,109) (102,893) (2,567) 100,967 207,809 318,062 431,832 - Partnership Management Fees - Incentive Management Fees = Cash Flow Available for (952,071) (878,713) (723,174) (642,736) (559,713) (474,023) (385,584) (294,309) (200,109) (102,893) (2,567) 100,967 207,809 318,062 431,832 Distribution Debt Coverage Ratio -Bank Loan 0.69 0.71 0.76 0.79 0.82 0.85 0.87 0.90 0.93 0.97 1.00 1.03 1.07 1.10 1.14 Debt Coverage Ratio -All loans 0.69 0.71 0.76 0.79 0.82 0.85 0.87 0.90 0.93 0.97 1.00 1.03 1.07 1.10 1.14 Cash on Cash (e=CF/EQ) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 THE ENGLERT THEATRE 221 E WASHINGTON STREET IOWA CITY, IA 52240 SALIDA PARTNERS ATTN: STEVE LONG 208 E BURLINGTON ST #403 IOWA CITY, IA 52240 I hope this message finds you well. I am writing on behalf of The Englert Theatre to express our continued interest in your proposed project at 21 South Linn Street. Having thoroughly considered the opportunities that this location presents, we have identified it as a prime candidate for our planned expansion, and we are enthusiastic about the prospect of working together. Please accept this letter as a formal indication of our interest in pursuing a lease or potential purchase agreement, pending the outcome of the Request for Proposals (RFP) process. We recognize that final terms and pricing will need to be established, and our interest is contingent on those details. However, we are eager to explore this partnership further should your proposal be selected by the City of Iowa City. We look forward to staying informed as the RFP process progresses and welcome any updates you can provide. Thankyou for considering us as part of your development vision. We are excited about the possibilities and remain committed to exploring this opportunity in earnest. Sincerely, John Schickedanz Executive Director swriesProlea fi October 31, 2024 Steve Long Salida Partners 308 E Burlington St #403 Iowa City, IA Dear Mr. Long, Brent Stindu Executive Director 308 E. Burlington St #230 Iowa City, IA 52240 I am writing on behalf of Stories Project of Iowa City regarding our discussions about your proposed project at 21 South Linn St, Iowa City, IA Please accept this letter as a statement of our interest in moving forward with a future lease at the proposed site. AA 1 sve id—rilwd this 1-1-1 ss a pr,terr,d1- cation for Stories Project, and we are excited about the opportunity to work with your group. Our interest "—Id be contingent on lusal pricing and terms, as well as granting of the REP. "Phank you for considering us as a potential partner. We look forward to working with you. 308 E. Barlmgma St. #230, Ionia City, hl 52240 Sincerely, Brent Stinski IOWA The International Writing Program Uniw ,Ky,f Iowa 100 City, ugh House 44 Iowa City, Iowa 52242-0000 iwp.uiowa.etlu WesternHome communities October 22, 2024 Steve Long Salida Partners 308 E Burlington St #403 Iowa City, IA Dear Mr. Long, I am writing on behalf of the University of Iowa International Writing Program to express interest in partnering with you regarding your proposed new building at 21 South Linn St, Iowa City, IA. Specifically we would seek to sign a partial -year lease, recurring over multiple years, for up to 30 units for visiting artist residencies. Our interest would be contingent on final pricing and terms. In the meantime, please accept this letter as a statement of our interest in working with you. Sincerely, Christopher Merrill Director International Writing Program Title Company Street Address City, ST Zip Mr. Steve Long Salida Partners 308 East Burlington Street, #403 Iowa City, Iowa 52240 Mr. Long — Western Home Communities is committed to expanding its footprint of care to the Iowa City market. This expansion will include the development of new housing, redevelopment and adaptive reuse of existing spaces, and micro locations In downtown Iowa City. As such, Western Nome is interested in the opportunity to Master Lease up to 16 units in the 215outh Linn Street building based on your renovation plans and improvements as outlined to us. We look forward to our continued work together. Warm regards, / trick O' e ty C Chief Strategy Officer Western Home Communities 5307 Caraway Lane Cedar Falls, Iowa 50613 Phone: (319) 277-2141 www.westernhomecomm unities.org housing fellowship Housing Management with o Mission Salida Partners Steve Long 308 E Burlington Street, #403 Iowa City, IA 52240 Letter of Interest, Acquisition, 215. Linn St. Iowa City, Iowa 52240 I am writing on behalf of The Housing Fellowship m indicate our interest in acquiring affordable ,its in your proposed project. We would be interested in a pursuing a purchase agreement to acquire 6-8 units, Contingent on pricing and financing terms that support affordable rents. Thank you for contacting us; we look forward to updates during the RFP process. Best RReeeggaarrds, Simon Andrew Executive Director 322 E. 21d5treet Iowa City, IA 52240 1 Office: 319-358-9212 1 housingfellowship.Com 12.0 EXHIBIT D EXHIBIT D LISTING OF LAWSUITS OR LITIGATION WITHIN THE PAST FIVE YEARS Lawsuit or Litiqation n/a Status or Outcome n/a Comments n/a SALIDA PARTNERS October 30, 2024 To Whom it May Concern, This letter serves as a written record that Salida Partners, LLC, an Iowa Corporation, attests to having no litigation proceeding, no outstanding judgement, and is not part of any pending investigations. Furthermore, Steve Long has neither been convicted or indicted of a felony. Sign pj ve Long Owner/Founder 13.0 REFERENCES MidWestOne o s aimonsa�t.lo aan.lns ao \\; Bank. P„ore Mid We 0—bnk Kyle Long Vice Presdent-Commercial Banking klongid. dwestone com October 30t^ 2024 Salida Partners, LLC Steve Long 308 E Burlington St. #403 Iowa City, IA 52240 RE: Redevelopment of21 S. Linn St To whom it may concern, This letter shall indicate MidWestOne Bank's interest to provide a financing package for the redevelopment ofthe above -listed property. Steve Long has been an exemplary customer of MidWestOne Bank for many years, and we look forward to continuing and expanding our banking relationship. Final commitment will be subject to an appraisal and underwriting of the transaction. Please contact me with any questions. Sincerely, Kyle Long U Vice President Commercial Banking 319-356-5872 klong@midwestone.com steve@salidapartners.com 308 E Burlington St #403, Iowa City, IA 52240 319-621-3462 M,emee,roi< Q 14.0 SUPPORT To Whom It May Concern, I am writing in support of Salida Partners and their proposal for the greatly needed improvement to 21 S Linn Street. Their concept not only checks the wishes and desires ofthe patrons of Iowa City from an entertainment perspective, but it provides an intentional and much needed fix to the revolving door of Iowa City businesses. My biggest concern with Iowa City and the future of it is the inability to house local businesses in places where they can thrive, reason being prices are too high and traffic is too low for them to succeed. The accessibility issue that we are seeing has fully come to the surface in the past few years, and I believe this proposal achieves one of my greatest wishes for Iowa City, lowering the barrier for entry to business by creating a sustainable solution. As a local business owner who was lucky enough to cut my teeth on an opportunity because it was a low point of entry, this is a huge issue for me. We can allow locally owned businesses to flourish by providing them a better launchpad while they figure out the difficulties of starting and running a business. Which in turn, will make our community stronger, and more dollars will stay local. Taking a step away from being a business owner, this proposal gives me hope to want to go downtown again. They have intentionally and beautifully meshed business sustainability, community belonging, safety, intentional living, and have doubled down on the locality that we all have been yearning for. I truly believe that this space dictates the future of Downtown Iowa City for the next 30+ years We must make it count. Sincerely, Connor Moellenbeck Co -Founder, Daydrink NAYNRIflii 14.0 SUPPORT SR\ 01cIIIK(3f14l1lII\IIIIH QRR1 IIII Dear Salida Partners, I am writing to express support for the inclusion of micro restaurant and kitchen spaces in the upcoming development project in downtown Iowa City. These small-scale culinary spaces offer unique advantages to both our community and local economy, making them an ideal addition to our city's landscape. As a business owner, I see firsthand how valuable this initiative could be for my operations. Micro restaurant and kitchen spaces would allow me to expand in an efficient, cost-effective way while bringing fresh and diverse offerings to the heart of our community. This setup would enable me to connect more closely with my customers, adapt to their evolving tastes, and grow sustainably within the local economy. These spaces also reduce the financial barrier to entry for entrepreneurs, supporting local talent and fostering a dynamic, inclusive food scene that attracts both residents and visitors. Furthermore, micro kitchens are typically more energy -efficient, promoting sustainable business practices and making them an ideal fit for Iowa City's commitment to a greener future. Thank you for considering the invaluable role that micro restaurant and kitchen spaces can play in enhancing Iowa City's downtown. With your support, we can create a thriving, sustainable culinary community that supports local businesses like mine and enriches our community. Sincerely, Vivian Pei Co, Founder Snacky Mini Mart 14.0 SUPPORT HIVA NATIONAL INDEPENDENT VENUE ASSOCIATION October 3, 2024 City Council of Iowa City 410 E Washington St Iowa City, IA 52240 Dear Mayor and City Council Members: On behalf of the National Independent Venue Association (NIVA) and the 1400 independent venues, promoters, and festivals we represent across the country, I write to express our enthusiastic support for The Englert Theatre's addition of a new 250-capacity venue as part of the proposed 21 S Linn development in Iowa City. This project represents a valuable investment in the cty's cultural landscape and continued economic growth. Independent venues like The Englert Theatre are vital to local communities and have a significant economic impact. Every dollar spent on a ticket creates a ripple effect, generating additional spending at local restaurants, hotels, and shops. The proposed venue will boost Iowa City's economy, bringing in an estimated $2.8 million annually and supporting 23 jobs. It will draw locals and tourists to the downtown area, benefitting small businesses and fostering long-term growth. Additionally, expanding access to the arts is crucial for strengthening civic pride and identity. The new venue will allow for more diverse, intimate, and innovative artistic programming, serving as an incubator for creativity. Importantly, it will not compete with existing spaces but will complement them by filling a need for mid -sized venues, providing a necessary stepping stone for local and touring performers to grow their careers. This enhancement will help solidify Iowa City's reputation as a hub for arts and culture. By supporting this project, Iowa City will ensure its cultural vibrancy and economic sustainability for years to come. The Englert Theatre has been a cornerstone of the community for decades, and this n venue will expand its positive impact even further. We urge the City Council to support The Englert's expansion, ensuring that Iowa City continues to thrive as a destination for the arts. Sincerely, A 5t 'arP � Executive Director, National Independent Venue Association (NIVA) 14.0 SUPPORT Cityof Iowa City: I am writing in support of The Englert Theatre's involvement in a redevelopment opportunityat 21 S Linn St. I commend The Englert tearr's effort to build a new performing arts venue and community gathering space as part of a future development at this downtown location For reference, I have been a community partner and committed to the positive cultural growth of our region since 2005. I currently serve as executive director of Hancher Auditorium and the Office of Performing Arts and Engagement at the Umversityof Iowa. I am currently, board president of the National Independent Venue Association which serves thousands of independent venues, promoters, festivals, and communities across the United States and played a lead role in securing $16 billion in federal relief for arts and culture organizations during the pandemic. Additionally, I am a board member and vice-president for our regional arts organization, Arts Midwest. Previously, I served as executive director of The Englert Theatre, the Strengthen Grow Evolve campaign (for FilmScene and Englert), and as talent buyer for The Mill. I also co-founded Mission Creek Festival Acaleadinglocalartcnonn>ofit, the Englert'., management ofa fift-evenue will cnnnprt several aspects of the city's strategic plan (2ozi-28). strengthen our community's cultural sector while maintaining independent local control, and continue to shape downtown into a thriving. accessible. and welcoming location for all residents and visitors Outcomes might include: L Providing a right -sized space for The Englert to support events for informal community orgs, other nonprofits, and corporate events m the heart of downtown Iowa City 2. Offering a space for people (from K-college and beyond) of all backgrounds to affordably, safely, and productivelygather and contribute to Iowa City's cultural landscape -from corwrnmitymeetings to arts events that would otherwise be economically nonviable in the area's other existing venues 3. Stratifying Iowa City as a keydestination for touring artists 4. Developing further revenue sustamabilityfor the Englert, a mission -based nonprofit committed to communityoutreach 5. Creating additional arts and culture jobs m Iowa City (to help manage the new space) 6. Strengthening the connection between the city and the university by offering a gathering space for UI student groups, arts programs, academic departments, and other UI units 7. Affirming our town's position as the greatest small city for the arts Twenty years since the Englert was renovated and reopened to the public, it bas continued to grow as a positive force of culture in our area. Its programs and its iconic marquee are beacons reflecting and driving the economic and community -driven possibilities of Iowa City. Please consider this new and exciting proposed project by the Englert team with care. Thank you, as always, for your incredible service and commitment to guiding Iowa City from one chapter to the next. Sincerely, Andre Perry Iowa City resident since 2005 15.0 EXHIBIT E EXHIBIT E Proposal submittal signature form The undersigned attests to his/her authority to submit this proposal and to bind the firm herein named to perform if the firm is selected by the City of Iowa City. The undersigned further certifies that he/she has read the Request for Proposal, terms and conditions, and any other documentation relating to this request; has complied in all respects with all conditions hereof, and this proposal is submitted with full knowledge and understanding of the requirements and time constraints noted herein. The undersigned hereby further acknowledges that it accepts the terms of the Request for Proposals in its entirety and by the submission of its proposal hereby waives any claims or claims to irregularities that arise out of such RFP, the process employed by the City to solicit and develop proposals, the RFP evaluation process described in the RFP, and agrees to release and hold harmless the City, its employees, agents, and consultants from any claim, loss, or damage arising therefrom. The undersigned hereby authorizes any person, firm or corporation to furnish any credit history and financial condition or other information required by the City to verify information related to the Firm's submission to the City. I hereby certify, on behalf of the undersigned firm, that the above information is true and correct to the best of my knowledge and that the City may rely on the information provided. Firm name: Salida Partners, LLC Home office address: 308 E. Burlington Street, #403 City, state, zip: Iowa City, IA 52240 Signature: Date: 25 Stories Project and Englert Theater Economic Impacts Literature Review October 31, 2024 Prepared by: CAI Prepared for: Stories Project THE ENGLERT f THEATRE Community Attributes Inc. tells data -rich stories about communities that are important to decision makers. President and CEO: Chris Mefford Project Manager: Elliot Weiss Analysts: Jo Baldwin Dominic Roche Community Attributes Inc. 500 Union Street, Suite 200 Seattle, Washington 98101 www.communityattributes.com KEY FINDINGS The following are key findings from this study. • Based on comparable cultural attractions and regional population, Stories Project could generate total economic impacts of $15.2M annually. Based on the population in the Cedar Rapids and Iowa City Combined Statistical Area, as well as the performance of four other comparable cultural attractions nationally, Stories Project could generate total economic impacts of $15.2M annually. This calculation is based on the average ratio of total impact to regional population observed across these comparable attractions. • Based on goals for annual Stories Project attendance, economic impacts could reach $21.7M. Stories Project could generate even higher economic impacts based on goals for annual attendance. Stories Project anticipates approximately 95,000 annual visitors, based on the stated attendance at more than a dozen cultural attractions in Iowa, Nebraska, and Illinois. On average, across four cultural attractions studied, the average economic impact per visitor is $228, which implies a potential economic impact of $21.7M for Stories Project. Economic impacts for cultural attractions studied ranged from $174 per visitor to $307 per visitor, which would imply a potential range of total economic impacts for Stories Project of $16.5M to $29.2M. • Based on comparable venues and regional population, the Englert venue could generate total economic impacts of $12.6M annually. Based on the population in the Cedar Rapids and Iowa City Combined Statistical Area, as well as the performance of four other comparable venues nationally, the Englert venue could generate total economic impacts of $12.6M annually. This calculation is based on the average ratio of total impact to regional population observed across these comparable venues. Economic impacts for venues studied ranged from 14.9 times the regional population to 42 times the regional population, which would imply a potential range of total economic impacts for Stories Project of $6.6M to $18.7M. • The preceding estimates indicate that the combined economic impact of Stories Project and the Englert venue could reach $27.8M. These figures are based on the average ratio of economic impact to regional population for four cultural attractions and four venues. Arts and culture organizations more broadly are known to generate positive economic impacts in their communities. A study from Americans for the Arts indicated that museums and other cultural institutions contributed $151.713 in total direct expenditures in 2022, while generating 2.6M jobs. Economic impacts accrue through STORIES / ENGLERT OCTOBER 31, 2024 PAGE 1 ECON. IMPACTS DRAFT employee wages, as well as on -site and off -site visitor spending, such as at local retailers, restaurants, and hotels. There are potentially other community development benefits, such as access to educational experiences, that arts and culture attractions and venues can offer. Iowa City benefits from a higher rate of out of town visitors compared to the national average. Out of town visitors spend more, on average, than in town visitors. To refine these estimates, which are based on the performance of other comparable cultural attractions and venues, a formal economic impact study is necessary. A formal economic impact study would use input-output modeling and assumptions informed by operating plans for Stories Project and the Englert venue. Such a study would provide economic impact estimates specific to Stories Project and the Englert venue. Several case studies are included in this report, highlighting the range of economic impact performance for cultural attractions and venues across the United States. Data for these attractions and venues can be limited and, as such, data availability is a key limitation of this study. INTRODUCTION Two arts and culture organizations, Stories Project and the Englert Theatre, contracted Community Attributes, Inc to estimate the potential economic impacts, based on a literature review and a comparable analysis, of their joint project in Iowa City, Iowa. Stories Project is a proposed, interactive and immersive museum experience that will showcase literary and writing exhibits and works, drawing upon Iowa City's established presence as the first community in the United States to be designated a UNESCO (United Nations Educational, Scientific and Cultural Organization) World City of Literature. Stories Project will be a component of a larger, mixed -use development, which will feature residential and other commercial spaces. Another component of the development program will be a space for the musical arts, operated by the Englert Theater. This report documents the community and economic benefits of arts and culture organizations broadly and uses data available for specific venues and attractions to estimate the potential economic impacts associated with both the Stories Project and the new Englert venue. ART AND CULTURE IMPACTS National Impacts The economic impact of the arts and culture sector in the United States is profound. According to a report from Americans for the Arts, museums and other cultural institutions contributed $151.7 Billion in total direct expenditures, and supported 2.6 million total jobs in 2022. These impacts are STORIES / ENGLERT OCTOBER 31, 2024 PAGE 2 ECON. IMPACTS DRAFT measured through direct, indirect, and induced impacts generated by the organizations. The report represents the broad spectrum of the arts and culture sector, including aquariums, art museums, botanic gardens, children's museums, culturally specific museums, halls of fame, historic sites, history museums, maritime museums, military museums, natural history museums, planetariums, presidential libraries, science and technology centers, and zoos. On average, one third of attendees of cultural events travel from outside the county where the event or attraction takes place, and non -local visitors spend nearly twice as much as their local counterparts, averaging $60.57 compared to $29.77. Moreover, 77% of non -local visitors indicated their primary reason for visiting was to attend the specific venue or attraction, underscoring the impact of cultural institutions on local economies. Across communities surveyed, the largest spending categories for attendees include offsite food and drink, retail shopping, and overnight lodging. A 2017 report from the Alliance of Museums reports pre -pandemic numbers, and documents similar trends in the impacts of museums and similar art institutions. They report that for every $100 spent by the museum, an additional $220 is generated in the economy. These impacts will have the greatest effect on financial activities; trade, transportation, and utilities; and professional and business services. This reflects where museums make up most of their spending and where they will have the most significant impact for the city. Other major impacts from museums include the employment impacts museums have on their community, for every direct job a museum generates, it supports an additional job in the economy. Regional Impacts Through the Arts and Economic Prosperity 6 report from the Americans for the Arts, we can advance a high-level understanding of how the economic impact of the downtown Iowa City center compares to both Johnson County and the State of Iowa. Done in partnership with the Englert Theatre, the study was able to gain survey data from 12 non-profit arts and culture organizations in Iowa City to understand the economic impact. The Iowa City numbers generally align with the national findings from the same study and are identical to the County. Of the $31.7 million in total industry expenditures in the county, $20.4 million comes from Iowa City, while they also employ 319 of the 528 jobs in the County. We also see the same major spending categories for visitors in food, retail and lodging, with average visitor spending being $46.77. Non -local spending in both Iowa City and Johnson County is also more than double that of local spending, averaging $86.36 for non -local compared to $32.41 for local spending. Iowa City along with Johnson County both have the same percentage of non -local STORIES / ENGLERT OCTOBER 31, 2024 PAGE 3 ECON. IMPACTS DRAFT visitors (26.6%), slightly lower than the 30% average nationally, but higher than the state average of 13%. This indicates that Iowa city is a major tourism destination in Iowa, and an important economic driver for the area. When comparing Iowa city to other similar cities from the study, we generally see similar trends throughout them. Exhibit I compares Iowa City to other cities throughout the United States for their total expenditures, total employment, along with local and non -local attendee data from the AEP6 study. Comparing Iowa City to the median of these four other communities, it falls at the median for city population and its ratio of local and non -local attendees. It far exceeds the median average spending amounts for both local and non -local attendee spending, underscoring the significance of art and culture tourism for the city, and the significant impact increasing the sector in the area. Exhibit 1. Arts and Culture Economic Impacts for Iowa City and Comparables Population Total Industry Expenditures Total Employment Local Non -Local Attendees Attendees Local Nan Local Spending Spending Iowa City 74,000 20,400,625 319 737. 277. $ 32.41 $ 86.36 Dubuque 59,000 70,460,879 1527 767. 247. $ 24.54 1 53.57 AsheVille 93,000 49,425,924 1212 787o 227. $ 24.58 $ 60.32 Eau Claire 69,000 25,332,076 804 697o 317. $ 23.22 $ 59.43 Norman 128,000 36,081,185 596 71% 29% $ 26.37 $ 49.36 Average 84,600 40,340,138 892 73% 27% $ 26.22 $ 61.81 Median 74,000 36,081,185 SO4 73% 27% $ 24.58 $ 59.43 Source: Art and Economic Prosperity 6, 2022, CAI 2024 CASE STUDIES Albright -Knox Art Gallery, New York The Albright -Knox Gallery in Buffalo is one of the oldest museums in the country, and in 2016 released a report looking into its economic impact on the region and projections based on a potential expansion of its museum. Economic impact totals reported by the Gallery in 2015 reflect direct and secondary impacts on employment, labor income and output. Regionally the arts and culture sector generates $352.1 million in total economic activity and supports 10,160 full-time equivalent jobs. During the 2015-2016 period, the Albright -Knox gallery and its visitors generated $23.7 million in economic impact, with every dollar spent creating an additional $1.49 in the broader economy. The gallery employs 126 full and part-time staff, contributing to a total of 227 jobs directly or indirectly supported across New York State. In that same period, it welcomed more than 123,000 visitors, of whom 3 1 % traveled from out of town, with half of those being one - day visitors. Significantly, more than half of the visitors noted that the STORIES / ENGLERT OCTOBER 31, 2024 PAGE 4 ECON. IMPACTS DRAFT Albright -Knox was a primary reason for their trip to Buffalo. Overall visitor spending totaled $6.9 million, averaging about $159 per visitor party. Notably, 35% of out-of-town visitors indicated that their visit was specifically motivated by the gallery. The Direct Spending Multiplier for the Albright - Knox in Buffalo stands at 1.23, illustrating its substantial impact on the local economy. Portland Museum of Art, Maine Similar in population to Iowa City, Portland, Maine, and the Portland Museum of Art (PMA) released a report on the economic contribution and impact of their museum in 2022, which covered their economic impacts prior to their facilities expansion. In 2019, prior to the expansion, the PMA attracted over 170,000 visitors, including 88,000 from out of state, with 13% coming from out of state specifically to visit the museum. These tourists spent approximately $12.6 million on lodging, meals, and other activities, with overnight visitors spending on average $221 and day trips or local visitors spending $67. The museum itself spent $8.0 million on operations, with 69% of that amount directed to Maine businesses, its total economic impact totaling $11.5 million for the state. The economic impact of this spending is substantial. Direct tourist spending generated an additional $8.1 million in output and created 52 jobs. For every $100 spent by tourists, an additional $79 was generated in the local economy. The PMA's operational activities further supported an additional $5.7 million in output and 37 jobs, with a multiplier effect of $99 for every $100 spent by the museum. Museum of Fine Arts, Boston The impacts made by the Museum of Fine Arts in Boston are significant thanks to its international fame and will vary greatly from the conditions of Iowa City. It displays the extent of impact that can be made from a tourism - based art institution. In 2014, the Museum of Fine Arts (MFA) in Boston made a direct expenditure of $117.0 million, resulting in a total economic impact of approximately $143.5 million. The MFA supported a total of 827 jobs, including full-time, part-time, permanent, and temporary positions, along with 269 outsourced jobs across both the MFA and the Museum School. Overall, the MFA is associated with 3,441 jobs in Boston and 3,872 across Massachusetts. Among the 1.1 million visitors that year, 448,000 came specifically to Boston for the MFA, spending around $168.0 million in the city-44% of which went to restaurants, 18% to retail, and 16% to hotels and lodging. STORIES / ENGLERT OCTOBER 31, 2024 PAGE 5 ECON. IMPACTS DRAFT Virginia Museum of Fine Arts, Virginia The Virginia Museum of Fine Arts is a privately owned art museum and educational institution in Richmond, Virginia, that is supported financially by the State of Virginia. The Museum is one of the ten most comprehensive art museums in the United States, with a permanent collection of more than 39,000 works of art. In 2010, the museum finished a fifth expansion, adding the McGlothlin Wing, a 12,000-square-foot gallery for special exhibitions. In 2016, the flagship Richmond museum welcomed more than 520,000 visitors, and the Virginia Museum of Fine Arts accommodated more than 673,000 visitors across Virginia. In 2016, the Virginia Museum of Fine Arts had 329 wage-earning employees on staff, including 198 salaried employees and 237 authorized positions. The Museum's budget for the 2017 fiscal year was nearly $31.9 million, of which more than 50% came from private donations. Erie Philharmonic, Pennsylvania The Erie Philharmonic is one of the oldest professional orchestras in the nation and has continued to grow into the economic driver it is today. In 2022 the Philharmonic generated $10.3 million in economic impact for the state, with 86% of that contributing to Erie County alone. They performed for 260,950 patrons that same year, with 88% of them being local to the community. In terms of supporting their community, they have a total employment impact of 141 jobs, 83 of which are directly employed by the Philharmonic. Overall, the Philharmonic is both a strong economic driver for their community, while also supporting through charitable and volunteer giving. Abbeville Opera House, South Carolina The Abbeville Opera House has been a staple of the Abbeville Community since its construction in 1908. In 2021, after the COVID-19 disruptions to the Opera House that incited a diversification of their lineup, the Opera House commissioned an impact study to gauge the current Economic Impact of the relatively new programming at the Opera House on the City of Abbeville's Economy. The opera house estimates 7,000 visitors on average a year, from both ticketed and non -ticketed events. Spending impacts for attendees in 2021 are measured by the average group size of 2.5, resulting in an estimated $107 including an average $21 ticket prices. Amon Carter Museum of American Art, Texas In Fort Worth Texas, the Amon Carter Museum of American Art reports an overall annual economic impact of $17.6 million for the state. They directly employ 73 full time employees and welcomed 73,751 visitors in 2023. The museum has undergone capital improvement since 2019 and is a vital part of STORIES / ENGLERT OCTOBER 31, 2024 PAGE 6 ECON. IMPACTS DRAFT the Fort Worth community. They offer school visits and offsite programs for children, resulting in 23,561 children being served through their work. Akron Civic Theater, Ohio The Akron Civic Theater has recently gone through renovations that have expanded their economic impact on their community and expanded the shows and services they offer. The theater has a total operational economic impact of $13.3 million, resulting in 107 jobs total supported by the theater. With the added construction, the total visitor spending generated was $26.5 million. The theater reports that over the course of five years this total is $104.0 million dollar impact to Akron and the surrounding area. Summary of Interview Findings As part of our engagement efforts, we connected with representatives from five venues and attractions, including TheatreSquared in Fayetteville, Arkansas, Weston Playhouse Theatre in Weston, Vermont, Planet Word Museum in Washington D.C., TheaterWorks in Hartford, Connecticut, and Discovery Pier in Traverse City, Michigan. These venues and attractions vary in size from total annual attendees, expenditures, estimated economic impacts, as well as geographical characteristics. TheatreSquared, a nonprofit performing arts venue and multi -faceted community attraction, is comparable to the Englert Theater, who employs approximately 300 actors, designers, directors, playwrights, technicians, and other professionals, and generates an estimated total economic impact of $8.6 million annually. The majority of income generated by TheatreSquared is from fundraising efforts. Planet Word Museum attracted 160,000 visitors in 2023, the majority of which traveled from within the Washington D.C. region. Similarly, 70% of Planet Word's revenues come from fundraising efforts, while the remaining 30% is derived from communal space rentals, gift shop and restaurant purchases, admission purchases to the museum's lone exhibit, and suggested donations. TheaterWorks in Hartford, Connecticut produces between four to five shows a year, generates approximately $3.0 million in annual revenue, attracts approximately 7,500 attendees over the course of the year, and receives around 50% of its income from fundraising efforts. Of the remaining income pie, approximately 40% is raised through merchandising and concessions, while the other 10% comes from renting out public and communal spaces. Around 90% of visitors travel from within the State of Connecticut to experience a program at TheaterWorks. STORIES / ENGLERT OCTOBER 31, 2024 PAGE 7 ECON. IMPACTS DRAFT Discovery Pier is a maritime -oriented experience that fosters both education and workforce development, and is currently planning the development of a 40,000- square -foot research facility that will foster learning, education and research and development in freshwater technology. Around 3,000 square feet of this operation will be dedicated to public interfacing spaces, allowing interactive experiences for visitors. The new facility will be co -owned by Northwestern Michigan College, who is a critical partner to Discovery Pier's operations and success. The ultimate goal of this facility, which is anticipated to be completed by 2027, is to offer both formal and informal educational opportunities, showcase and hone research and development efforts for new technologies, and facilitate the commercialization of new technologies, while supporting and fostering new businesses and startups that specialize in marine technologies. Strong relationships with businesses, nonprofits and similar arts organizations in the community were strongly emphasized in many interviews. Planet Word Museum's leadership highlighted its strong relationship with the Department of Small and Local Business Development, who manages Business Improvement Districts (BID), which are self -taxing districts that enhance and stimulate economic activity in Washington D.C. neighborhoods. TheatreSquared receives significant funding from the Walton Family Foundation, through which they can offer free or substantially reduced pricing for programming for low-income community residents. TheatreSquared also maintains critical relationships with community - focused organizations and non -profits, including Boys & Girls Club and Single Parent Scholarship, among others. Additionally, many interviewees highlighted the extensive work and relationships they maintain with schools in the region, including hosting field trips, conducting classes and youth camps for students, and even offering internships to students interested in pursuing a career in the arts. TheaterWorks in Hartford maintains relationships with between four and five steady seasonal partners, businesses and locally -oriented organizations, including a pizza restaurant and a brewery. Weston Theater Company highlighted the significance of understanding genre sensitivity as a key to running a successful theater operation, being cognizant of not oversaturating certain channels of content to continue to generate organic visitor interest in the programmatic experience. More specifically, Weston Theater has experimented with altering the seating capacity arrangement during the course of some show runs, switching from say 60% capacity over a three-week span to 90% capacity over the course of ten days, to experiment with show interest. STORIES / ENGLERT OCTOBER 31, 2024 PAGE 8 ECON. IMPACTS DRAFT ANALYSIS OF POTENTIAL IMPACTS This report includes analysis of a sample of eight comparables, including four attractions and four venues, and calculates an economic impact ratio for two metrics, including 1) total economic impacts normalized per capita, which is based on the population of the metropolitan region in which the venue or attraction is located, and 2) the estimated economic impact based on the number of attendees to each venue or attraction. To arrive at these metrics, we divided the total economic impact, represented as a dollar figure, by each of these metrics for all comparable attractions or venues. While eight attractions and venues had sufficient data on which to base these estimates, this project identified and studied a total of 37 arts and culture attractions and venues. Based on the comparable set of attractions, we calculated an average economic impact of $228 per attendee, ranging between $174 and $307, and an average per capita income economic impact figure of 34.1. Applying the average per capita economic impact figure of 34.1 to the population of the Cedar Rapids Iowa City Combined Statistical Area (CSA), approximately 440,000 residents, the Stories Project could achieve a total economic impact of $15.2 million under stabilized operations. Within the set of analyzed venues, the average economic impact by attendee ranged from $39 to $146, with an average of $93, and the per capita economic impacts was between 14.9 and 42.0, with an average of 28.4. Again, multiplying this ratio of $28.4 by the population of the CSA, yields an anticipated economic impact of approximately $12.6 million for the Englert Theater. Exhibits 2 and Exhibit 3 highlight the estimated potential economic impact for Stories Project and the Englert Theatre based on population, against 4 comparable projects. Stories Project anticipates receiving 95,000 visitors annually, while the Englert Theater expects approximately 20,000 visitors. Applying the average economic impact of $228 per attendee from the set of analyzed comparable attractions, and multiplying this by the projected number of visitors, Stories Project could generate an annual economic impact of $21.7 million if they achieve 95,000 annual visitors. Similarly, should the Englert Theater reach the annual visitation target of 20,000 persons, this could result in $1.9 million in total economic impacts, based on the calculated average economic impact of $93 per attendee. These estimates are summarized in Exhibits 2 and 3, below. STORIES / ENGLERT OCTOBER 31, 2024 PAGE 9 ECON. IMPACTS DRAFT Exhibit 2. Stories Project Projected Economic Impact Total Economic Population Ratio Impact: Organizations Impacts (2020 Census) Population Albright -Knox Gallery $23, 70D, DDO 1,130, DDO 21.1 Portland Museum of Art Maine $29,700,000 660,000 44.8 Museum of Fine Arts, Boston $338,000,000 4,940,000 68.4 Amon Carter Museum of American Art $17,600,000 7,640,000 2.3 Projected Projected Impact Stories Project Economic / Population Ratio Average $15,180,000 440,000 34.1 Low End $1,020,000 440,000 2.3 High End $30,410,000 440,000 68.4 Source: "The Economic Contribution and Impact of the Portland Museum of Art in Maine", Maine Center for Business and Economic Research, Uniuersity of Southern Maine, December 2022; "The Economic and Community Impacts of the Museum of Fine Arts, Boston", Museum of Fine Arts Boston, 2015; Stories Project, 2024; "2023 Economic Impact Statement", American Alliance of Museums, 2024; CAI, 2024. Exhibit 3. Englert Theatre Projected Economic Impact Total Economic Population Ratio Impact: Organizations Impacts (2020 Census) Population TheatreSquared $8,600,000 580,000 14.9 Akron Civic Theater $13,100,000 700,000 18.7 Abbeville Opera House $1,020,000 20,000 42.0 The Erie Philharmonic $10,300,000 270,000 38.0 Projected. Projected Englert Theatre Economic Impact/Population Average $12,630,000 440,000 28.4 Low End $6,630,000 440,000 14.9 High End $18,670,000 440,000 42.0 Source: TheatreSquared; `Akron Civic Theatre Economic Impact Report" Akron Civic Theatre, 2023; `Abbeville Opera House Impact Study" Abbeville City's Community Development Department; "2022 Economic Impact Report", Parker Philips, Erie Philharmonic; Stories Project, 2024; CAI, 2024. STORIES / ENGLERT OCTOBER 31, 2024 PAGE 10 ECON. IMPACTS DRAFT Stories Project Vloze�a Caty A museum to inspire visitors to read Stories Project, a 501(c)(3) charity, will be a museum to celebrate storytelling — and to draw new visitors to Iowa City. We envision a home at 21 South Linn Street. Iowa City is one of the great international centers of creativity. While our cultural origins trace back to the University of Iowa's celebrated writing programs — attracting authors such as Flannery O'Connor, Kurt Vonnegut, Tennessee Williams, John Irving, Louise Gluck, James Alan McPherson, Marilynne Robinson, Joy Harjo, and more — Iowa City has now become a destination in its own right. With Stories Project, we can all take a key step to becoming, truly, the greatest small city for the arts in America. Please request any information you need, as you consider this timely opportunity for Iowa City. In this Appendix A Case for Support Letters of Support Museum Proposal Video Links Stories Project Research Report Stories A Case for Support Stories Project, a 501(c)(3) charity, seeks to raise $9.5 million for the launch and initial operation of a vibrant and exciting destination: a museum dedicated to storytelling. One can think of no better home for such an institution than Iowa City, the capital of American writing and literature. And the museum we envision addresses so many needs, in so many ways, one wonders why it doesn't already exist. Stories Project will draw new visitors to our UNESCO City of Literature, advance literacy among young and old alike, and will act as a national champion for storytelling, an art form beloved by millions. And it does it all in one place. W Projea of Iowa City At this crossroads moment, City Council can help make this vision a reality. By selecting a proposal that includes Stories Project for the development of the lot at 21 South Linn Street, City Council will give donors everywhere a reason to back our worthy cause. Given the chance, we'll reach our goals both by raising funds locally at levels similar to recent successful campaigns, and also by drawing from national giving sources. A vacant lot could be transformed into a crowning touch for our city. Stories Project is an opportunity for us all. Use of Funds Our campaign seeks to raise $9.5 million, with $8.5 million dedicated to exhibit and content development, and $1 million allocated to cover potential revenue shortfalls in years 1 through 3. For estimates on per - square -foot exhibit creation costs, as well as a Y1-5 Pro Forma Profit and Loss, please see our Proposal, attached. An Opportunity to Lead An investment in Stories Project is an investment in Iowa City. An economic impact study by Community Attributes, included in this submission, foresees annual economic impact of $15.2 million, a number that would go even higher should Stories Project reach its yearly goal of 95,000 visitors. Moreover, Stories Project will draw patrons for the arts generating new activity in particular for our great local cultural institutions. Stories tell us about the past and give us ideas for the future. A place where people focus on these aspects could change things in this world. A response in our statewide survey with 1,800 participants Economic impact: Based on museum performance in similar population centers, an independent firm estimates an impact of $15.2 million. If we hit our goal of 95,000 visitors per year, impact could reach $21.7 million. Stories Project oflowa City City Council has the opportunity to unlock this economic potential via a proven method that, in recent years, helped create both FilmScene and a new venue for Riverside Theater. Today these institutions are gems in our bustling downtown arts campus today residents could not envision our city without them. Yet without city leadership, they might not exist. In 2013 the FilmScene cinema complex positioned itself as the flagship tenant in a proposed multi -use building, in an RFP process not dissimilar that being held for 21 South Linn. The Chauncey proposal received $14.1 million in Tax Incremental Financing (TIF), which incentivized both the developer and nonprofit to seek mutually favorable terms. Via this path, FilmScene opened with affordable rent and moved quickly into operations showing movies, sponsoring events, and demonstrating value to the community. FilmScene then leveraged this progress to raise funds as a part of the Strengthen, Grow, Evolve campaign. In a similar progression, Riverside Theater in 2021 positioned itself as a tenant in the Nest Iowa City project near the downtown pedestrian mall. Generous TIF this time $12.25 million once again incentivized both nonprofit and developer to seek favorable terms. Riverside Theater then planned the successful Next Stage campaign, which raised just under $2 million In another scenario, these organizations would have to raise millions merely to build a facility a long and uncertain process that might never reach fruition. Instead, City Council's participation deferred capital need and enabled cultural organizations to display operational proof of concept first, which paved the way to sustained growth. This same path can bring Stories Project to life. Prior to the present RFP process, Stories Project explored purchasing 204 and 214 East Washington Street, an historic building currently occupied by US Bank. The projected purchase, renovation, and exhibit creation costs drove the expected need to nearly $30 million, a figure beyond the reach of a new organization. However, if TIF were applied at 21 South Linn, Stories Project would have a feasible path to operational phases, and we could then raise funds accordingly. With one step, City Council can unlock huge economic potential and solidify Iowa City's status as a cultural capital and tourist destination. It's an opportunity for us all. Am Not only is it a way to get people to read more but would also bring people together. — A response in our national survey with 2,700 participants Stories Project oflowa City The research tells the story We conducted two surveys: • Nationwide survey with 2,708 respondents • Statewide survey with 1,893 respondents We saw strong approval for the core idea in both our national sample (72%) and among Iowans as well (75%)• rnni In both, sky high numbers approved of young people visiting the museum. See Iowa results, right. Survey respondents were just as interested in visiting a museum about storytelling as one for visual arts, music, or crafts and folk arts. But guess what? There are almost no story -related museums in America Music (68) Crafts (219) Stories (5) &1i6 100% 90 % 80 % 70 % Number of museums in America 30 % 20 % 87%! 1i 10% 0/o o ■ 1; Disapproval Neutral Approval 5.2m An independent urban planning firm estimated a dramatic potential impact for the Iowa City area. See the research video at https: / Ank.bio/storiesproject Let's keep investing in stories Our investments in storytelling have paid off. There's still room to grow. Infrastructure Our statewide survey found the Iowa City Public Library, a perennial source of pride, to be the second - most recognized local cultural institution, just behind the Iowa Children's Museum. Events and activities From sold -out appearances by John Irving, Rachel Yoder, and Werner Herzog, to the bustling Iowa City Book Festival and our literary walk — events and activities engage locals and visitors with terrific programming. A new dimension Stories Project will provide a welcoming, always -open venue that gives visitors a place to start their exploration of our UNESCO City of Literature — and to take in our other arts offerings as well. Fundraising Strategy Stories Project can raise the capital it needs to make 21 South Linn a beacon to draw new visitors to our city. We divide our $9.5 million campaign into two parts, with an expectation of 70% coming from local and regional sources, and 30% from corporations, national arts foundations, and individuals outside of Iowa. Such a split allocates $6.65 million to be drawn from local and regional sources. Fortunately, several recent campaigns have demonstrated feasibility at this level: Recent arts campaigns: Theatre Cedar Rapids ($9.5m) Strengthen, Grow, Evolve ($5.5m) Stanley Museum of Art ($25m) • Theatre Cedar Rapids has recently announced an overall fundraising goal of $9.5 million to fund renovation of its downtown facility. The campaign will tap "a combination of public sources ($1.5 million) and community sources ($8 million)." At the time of writing, $6.15 million of this goal has been secured. • Iowa City's own Strengthen, Grow, Evolve campaign secured $5.5 million, in a difficult 2-year period starting just before the pandemic and finishing before its conclusion. • In a campaign concluding two years ago, Stanley Museum of Art raised a stunning $25 million for a new building to replace its facility lost in the floods of 2008. While $10 million came from an anchor donation from the Stanley family of Muscatine, the museum went on to raise an additional $15 million from private sources, drawing from over 500 households, most of them local. • In non -arts -related giving, Domestic Violence Intervention Program raised $7.3 million toward the Terry Fortmann Emergency Shelter, which opened in September of 2024. In short, our local ambitions are fully in line with patterns of giving in our area, even in the very recent past. A parallel effort will seek to secure an additional 30%, or $2.85 million, from national sources. Should City Council select a proposal including Stories Project, our vibrant concept will likely attract interest from regional and perhaps national press outlets. We will capitalize on expected publicity to initiate dialogue with a 500- constituent database of already -identified individuals, corporations, and foundations that have previously given to national literacy and literature -related nonprofits (see appendix). We would also hire a non -local fundraiser, specializing in literary giving, to assist in this portion of the campaign. Remember: Stories Project will aim to bring audiences together, promote literacy, and act as the de facto champion of an entire art form. These are values donors throughout the country will support. Fundraising: Our Plan Phase 1: Traditional Campaign $5.2 million Following Council approval, we will hire a local fundraiser to engage a constituent database of 1,100 individuals who have given to Iowa City area charities in recent years. We'll also offer a variety of presentations in large and small venues. Phases of Giving Stories Project oflowa City Prospects needed $1-2 million Pyramid for Phase I Prospects converted Approx total 1 or2 $2m 4 $2m 6 $720k 10 $500k Campaign planning is underway. Donors who give at least $10,000 toward the initial $5.2 million goal will become Founding Donors, to be permanently recognized in the museum. Larger donors have the opportunity to secure naming rights for pre -determined spaces. We're eager to share more specifics about our plan. Phase 2: Contingent Giving $2.4 million Successful realization of Phase 1 would trigger the following steps. Private giving. A private donor has pledged to close the gap between Phase 1 ($5.2 million) and the 60% ($5.7 million) threshold that, given historical precedent, may unlock state funding. Statefunding. Stories Project had a positive introductory conversation with a representative of the Iowa Economic Development Authority (IEDA) on September 19, 2024. In an ongoing dialogue with IEDA, Stories Project will continue to emphasize our state-wide appeal and outreach including touring exhibits, collaborations with local libraries throughout Iowa, and more. Historically, state funding sources become available when a given project reaches 60% of an overall project goal, providing approximately 20% of the overall need, in this case $1.9 million. Inclusion of these sources would bring us to 80% of our overall goal, or $7.6 million. Phase 3: Public Campaign $1.9 million In a final phase, Stories Project will launch a public, social -media driven campaign to broaden our reach. A membership program will be unveiled. Efforts to secure larger gifts and planned giving will continue as well. In undertaking this initial campaign, Stories Project will create the needed infrastructure for the sustained annual giving typically required by American museums. For more, see our Y1-5 Pro Forma Profit and Loss statement in our Proposal. We have a solid plan that can make Stories Project a reality. But we always welcome dialogue with potential givers and partners to make it even better. We're eager to hear your thoughts. Ready to get to work Our databases include ... Over 19100 individuals with a history of giving in eastern Iowa Over 500 foundations and individuals who have given to literary organizations around the US Over 300 authors who attended Iowa writing programs, or celebrities and other figures who have visited Iowa City Stories Project oflowa City 1 In their own words We collected thousands of comments in our national and statewide surveys �{ 6 6 . f• I I would definitely go to visit Iowa City if they had this! `66 I think Iowa City is the perfect place for this. r r«1�► tlrUt+! 616 I think this type of museum would fit perfectly with Iowa City. The University of Iowa is well known for its writing program, and this museum would complement this strength completely. Could be really engaginj and give visitors of the \ museum a new perspective on storytelling. 14 .��.�Museums like that offer culture. Culture that cultivates ,4h -kknversatim among a different group of people. This could be a great interactive experience � p and serve to address the importance and joys of storytelling. It can also link this art form to preserving history/culture as well as envisioning ' the future which are both critical for humanity. ��i,.3. :�5:�•3 a `t Conclusion We have but one chance to seize the immense opportunity embodied in the current RFP process for 21 South Linn. What today is a vacant lot could someday be the site of a major cultural institution. And this one location can do so much for our city. We can roll out a welcome mat to the world, inviting visitors to enjoy all that a UNESCO City of Literature has to offer. We can generate millions in new economic activity, boosting local businesses and cultural organizations in the process. And we can solidify our shared vision to be, indeed, the greatest small city for the arts in America. Stories Project is the culmination of everything toward which Iowa City has been building for years. Let's come together and take the next step. SP Appendix: National giving for literature and literacy organizations We reviewed annual reports to identify national organizations with a record of giving to non -local literary and literacy organizations such as 826 Valencia, Center for Fiction, Center for the Art of Translation, Chicago Humanities Festival, Clarion West, Community Word Project, Girls Write Now, Hugo House, Literary Arts Portland, National Book Foundation, ProLiteracy Worldwide, Room to Read, Open Book / The Loft, and more. Potential givers appear below. 20th Century Studios 4Culture 651 Arts AB I AllianceBernstein AbelsonTaylor, Inc Adobe Adrienne Ingrum LLC Aevitas Creative Management Alan J. Hirschfield Family Foundation Alfred P. Sloan Foundation All The Sky Foundation Allstate Insurance Company Alp-N-Rock LLC Altman Foundation Amazon Literary Partnership Amazon MGM Studios American National Bank Anantafo Foundation LLC Andy Warhol Foundation for the Visual Arts Angeli Law Group Apple Books Aptara Inc. Arch Group Foundation Archie D. & Bertha H Walker Foundation Archipelago Books Archsone Properties Private Ltd Arison Arts Foundation Art Goldberg & Susan Philips Mitzvah Fund Arthur F. & Alice E. Adams Charitable Foundation ArtsFund AT&T Atlassian Foundation International Audible Inc. AVECO Holding AG Axe -Houghton Foundation Bajaj Finance Limited Baker & Taylor Bank of America Merrill Lynch Bank of the West Bank United Barbara Forst Charitable Trust Barbie The Dream Gap Project Barnes & Noble Battery Powered BBDO Bella Vista Foundation Berger Family Foundation Bernard Osher Foundation BIC Corporate Foundation Birkhofer Family Charitable Fund B1ackRock Charitable Fund Blanchette Hooker Rockefeller Fund Bloomberg BNP Paribas Boeing Vietnam Book of the Month Book Soup BookBub & Chirp Books are Magic Books -a -Million Boss Foundation Brent and Ann Wilson Family Foundation Broadway Books Brown Foundation, Inc. of Houston Burger King Foundation Butler Family Foundation Caerus Foundation, Inc. CAF America CAMBA Cameron Schrier Foundation CARE India Cartier Philanthropy Cave Canem Central National Gottesman Foundation Central Square Foundation Chapman and Cutler LLP Chapman Family Fund Charles Schwab Chronicle Books Chubb Group of Insurance Companies Stories Project ofhwa City Cisco Foundation Hawaii Community Foundation LEF Foundation Citi Hawkins Project Leonard A. Gail and Robin M. City Lights Books Hawthomden Foundation Steans/The Steans Family Foundation Clara & Kurt Hellmuth Foundation Hearst Magazines Librio AG Clariant Foundation Helen Frankenthaler Foundation Lily Auchincloss Foundation Clorox Company Foundation Hellman Foundation Linklaters Comcast NBCUniversal Henry E. Niles Foundation Lisa & Douglas Goldman Fund Comic Relief US I Red Nose Day Henry L. Hillman, Jr. Foundation Literary Arts Emergency Fund, Con Edison Holmgren Family Giving Fund supported by the Mellon Foundation Constance Wealth Advisors Horace W. Goldsmith Foundation Logitech Inc. Cornelia T. Bailey Foundation Hudson Book Group LSEG Foundation Countess Moira Charitable Humana M & T Charitable Foundation Foundation Humanities West Mac Properties Crankstart Foundation Humanitix Macmillan Publishers Credit Suisse AG Humble Bundle Malvern Books Crescent Porter Hale Foundation Hyde and Watson Foundation Marion E. Kentworthy-Sarah H. Swift Crown Family Philanthropies Hyde Family Charitable Fund Foundation Cultural Services of the French Illinois Tool Works, Inc. Matthew and Christine Casebeer Embassy in the United States IMC Family Fund Cushman & Wakefield Ingram Content Group Maurer Family Foundation Cyrus Capital Innocent Technologies Maverick Capital Foundation D.A. Davidson & Co. Institut Ramon Llull Maybelle Clark Macdonald Fund Danish Arts Foundation International Literary Properties Mayfly Design David C. and Sarajean Ruttenberg Irene S. Scully Family Foundation McFischer Family Fund Arts Foundation Irving Harris Foundation McKenzie Scott Foundation / Yield DIOR Ishk Tolaram Foundation giving Dodge & Cox Istituto Italiano di Cultura McKinsey & Company Dollar General Literacy Foundation J. Paul Getty Trust McKnight Foundation Dorothy Jordan Chadwick Fund James F. and Marion L. Miller McMaster -Carr Supply Company Dorsey & Whitney Foundation Foundation McNally Jackson Books Dotdash Meredith James M. & Margaret V. Stine Mellon Foundation DreamYard Foundation Meringoff Family Foundation Ernst & Young Janet Hoffman & Associates LLC Meta East Bay Booksellers Janklow & Nesbit Metzger -Price Fund Echidna Giving Jerome Foundation Milton and Sally Avery Arts Education Development Center John N. Blackman Sr. Foundation Foundation Efroymson Family Fund John R. Halligan Charitable Fund Ministry of Culture of Brazil Endeavor Foundation Joseph and Mercedes McMicking Miranda Lux Foundation Excellence in Investing for Children's Foundation Mitsubishi Corporation Causes Joy Harris Literary Agency Mizna Fates Foundation JPMorgan Chase Morgan Stanley India Farrar JSW Foundation MTE Fund Fidelity Charitable Julius Baer Foundation MUFG Foundation Find Your Light Foundation Just Buffalo Literary Center National Endowment for the Arts First Interstate Foundation Kaplan Institute for the Humanities National Writing Project First Tech Federal Credit Union Keith Campbell Foundation for the New Directions Fleishhacker Foundation Environment New York Edge Forward Global Kell, Alterman & Runstein L.L.P. Newell Family Charity Fund Fred Gellert Family Foundation Kelson Newmark Friedman Properties Ken & Judith Joy Family Foundation NewsCorp Ganek Family Foundation Key Trust Nora Roberts Foundation General Catalyst Kimball Foundation Norman Raab Foundation Genesis Inspiration Foundation Kingsbridge Heights Community Northern Trust GFP Real Estate Center Northern Trust Corporation Goethe Institut Kirkland & Ellis, LLP NW Natural Goldman Sachs Gives Kochi Foundation Old Mutual Life Assurance Company Google Play Books Koret Foundation (South Africa) Limited Google.org Lambent Foundation/Fund of Tides Opaline Fund Green Apple Books on the Park Foundation Open Road Integrated Media Green Leaves Education Foundation Lampert Byrd Fund Other Press Greenville Foundation Lancome Mexico OverDrive Hachette Book Group Lancome Panama P&T Knitwear Hamlet Constructions Private Ltd Lancome USA Patrick & Aimee Butler Family Harman Family Foundation Latham & Watkins LLP Foundation HarperCollins Publishers Laura B. Vogler Foundation Paul M. Angell Family Foundation Stories Project oflowa City Pegasus Books PEN America Translation Committee Penguin Random House PERT Foundation PGE Foundation Pierre and Tana Matisse Foundation Pine Tree Foundation of New York Pinkerton Foundation Pinterest PM — Give Back Fund Poetry Foundation Point Reyes Books Porch Prescott Fund for Children and Youth Pritzker Traubert Family Foundation ProHelvetia Swiss Arts Council Prosper Portland R5 Capital Ltd. Rain Taxi Ralph and Fanny Ellison Charitable Trust Ralph Lauren Ray and Dagmar Dolby Fund of the Marin Community Foundation Raymond & Gloria Naftali Foundation Raymond Family Foundation RBC Foundation Readerlink Rebel Girls, Inc. Reliable Source Industrial (RSI) Remick Family Foundation Research Triangle Institute International Robert R. McCormick Foundation Ronald H. Ringer Foundation Rose E. Tucker Charitable Trust Ross Stores Foundation Rumphius Fund Safespeed, LLC SahanJournal Save the Children Scholastic, Inc. Schwab Fund for Charitable Giving Select Equity Group Foundation Seminary Co-op Bookstore Serendipity Literary Agency Seth Sprague Educational and Charitable Foundation Severns Family Foundation Sherpa Adventure Gear SidneyJ. Weinberg,Jr. Foundation Sills Family Foundation Simon & Schuster Skylight Books Someland Foundation Southwest Airlines Spotify Standard Industries Stavros Niarchos Foundation (SNF) Steans Family Foundation Stephen M. & Joyce E. Tadler Charitable Trust Sterling Lord Literistic Stocker Foundation Stoel Rives LLP Stolbun Family Stuart S. Applebaum Giving Foundation Susan S. and Kenneth L. Wallach Foundation Swarovski Foundation Tatcha TAWANI Foundation TD Charitable Foundation Teachers & Writers Collaborative Terra Foundation for American Art The Aesop Foundation The American Council of Learned Societies The Bank of America Charitable Foundation The Benevity Community Impact Fund The Boeing Company The Breneman Jaech Foundation The Center for Fiction The Chauncey and Marion D. McCormick Family Foundation The Chris & Melody Malachowsky Family Foundation The Cowles Charitable Trust The Dolores Kohl Education Foundation The Elizabeth C. Quinlan Foundation The Estee Lauder Companies Charitable Foundation The Firehouse Fund The Frank A. Campini Foundation The Frank M. Barnard Foundation The Franklin & Dorothy Piacentini Charitable Trust The Germanacos Foundation The Gernert Company The Grainger Foundation The Harry and Jeanette Weinberg Foundation The Jacques Louis Vidal Charitable Fund The JEM Project The John D. and Catherine T. MacArthur Foundation The Keith Haring Foundation The Kinsman Foundation The Marie Lamfrom Charitable Foundation The Mechanics' Institute The Morris and Dolores Kohl Kaplan Fund of The Dolores Kohl Education Foundation The Nathan Cummings Foundation, Inc. The National Book Foundation The New York Times Company The PatrickJ. McGovern Foundation The Poetry Foundation The Richard Davoud Donchian Foundation The Richard H. Driehaus Foundation The Richard H. Yearick Foundation The Rogers Family Foundation The Rona Jaffe Foundation The Royal Norwegian Consulate General The Sherman Family Foundation The Shipman Agency, Inc The Smart Family Foundation of Illinois The Standard The Stocker Foundation The UPS Foundation The Upswing Fund The Walter & Elise Haas Fund The Washington Post The William Randolph Hearst Foundations The Witter Bynner Foundation for Poetry The Zellerbach Family Foundation Theodore E. & Bernice C. Zorn Foundation Three Friends Charitable Fund TikTok Tin House Books Tonkon Torp LLP TooFar Media Travel Sentry Trellis Literary Management Truist Bank Two Lines Press Two Trees Management Unabridged Books United States Agency for International Development (USAID) United Talent Agency University Settlement W.L.S. Spencer Foundation W.W. Norton & Company Walther Foundation Warburg Pincus Warner Bros. Discovery WealthEngine, An Altrata company Wells Fargo International Solutions Private Limited Wesleyan University Press Wheeler Foundation Whispering Bells Foundation Whiting Foundation Wiley Books William C. McGowan Charitable Fund William T. Hillman Foundation Wilshire Advisors LLC Winrock International WME Agency WME Entertainment World Food Programme Yakima Plastics Design & Supply Yelp! Foundation Youth INC Zando Projects Zenex Foundation ZGF Architects Zibby Media Zidell Family Foundation Stories Project oflowa City Stories Project Vloze�a GO Letters of Support We are pleased to enclose the following letters of support: • Local Iowa Representatives and Senators • University of Iowa President Barbara Wilson • Museum of Literature Ireland (MoLI) • Iowa Travel Industry Partners • Think Iowa City • UNESCO City of Literature • Downtown Arts Alliance • Prairie Lights (proposed terms for book resale at museum site) • Iowa City Poetry • Porch Light Literary Arts Center Adam Zabner STATE REPRESENTATIVE Ninetieth District Statehouse: (515) 281-3221 e-mail — adam.zabner@legis.iowa.gov HOME ADDRESS 730 N. Van Buren Street Iowa City, Iowa 52245 House of Representatives State of Iowa Ninetieth General Assembly STATEHOUSE Des Moines, Iowa 50319 COMMITTEES Natural Resources, Ranking Member Appropriations Environmental Protection State Government Transportation APPROPRIATIONS SUBCOMMITTEE Transportation, Infrastructure and Capitals Iowa City has a proud history and tradition of writing and storytelling. In 2008 it became a UNESCO City of Literature. We're excited about the new proposal to bring an interactive museum to Iowa City. We believe that this would be a great step for Iowa City. Important for our region's culture and for economic development. We wish to express support for Stories Project -- an interactive museum in Iowa City, Iowa, designed to promote literacy by celebrating storytelling in all of its forms. Signed, Se Weiner Re Re e resentative A Nielsen Representative Adam Zabner WA July 29, 2024 To Whom It May Concern: Office of the President University of Iowa 101 Jessup Hall Iowa City, IA 52242-1316 319-335-3549 Fax 319-335-0807 On behalf of the University of Iowa, I am pleased to enthusiastically support the proposal for launching the Stories Project in Iowa City. The university was firmly behind the project when it was initially conceived in 2008, and we are delighted the initiative has been revived after the 2008 historic flood tabled the idea. In the time that has passed since then, both the UI and the local community have only increased their status as a literary and arts hub of national and international stature, and the time for the Stories Project is more appropriate today than ever before. The UI calls itself "The Writing University" with good reason. In many ways, we have defined what writing in academia is and can be. Over 125 years ago, in 1896, the first course in creative writing was taught at the University of Iowa. From that modest beginning, an idea grew and blossomed —that creativity and writing were essential not only to human experience but to learning and discovery. Today, we are proud to host the world-renowned Iowa Writers' Workshop, whose innovation and influence have inspired the creation of many other highly regarded academic programs, including the Nonfiction Writing Program, the International Writing Program (IWP), and the Playwrights Workshop. Since 2008, the university has expanded its writing offerings, including the Spanish Creative Writing Program, an undergraduate creative writing track in the Department of English, and a screenwriting program. But the UI also recognizes the significance of the written word and the importance of telling our stories across the institution's comprehensive excellence, with writing centers and programs as diverse as the Frank Business Communication Center in the Tippie College of Business (the Big 10's first business -specific writing and communication center) and the Carver College of Medicine Writing and Humanities Program, which focuses on the humanistic and artistic dimensions of medical education and practice. This comprehensive excellence has led to our consistent ranking by US News & World Report as the No. 1 public university for Writing in the Disciplines, the only public university in the top 20 and tied this year with Yale University. The UI's institutional commitment to writing is second to none, but our dedication to fostering creativity outside our community, for the benefit of the general public, is also unwavering. For example, the Iowa Summer Writing Festival, the Iowa Youth Writing Project, and the IWP's Between the Lines youth cultural exchange initiative are all longstanding programs that extend our writing expertise for the benefit of people, including children, in the local community, across the state and nation, and throughout the world. Iowa City's status as the country's first UNESCO City of Literature stems fundamentally from the UI's groundbreaking and expansive writing programs, but even more broadly from how the community —often in collaboration with the university —has enlarged that love for telling stories and for the written word to define ourselves as truly a city of literature. Not only do we enjoy the creativity and programming of the nonprofit Iowa City UNESCO City of Literature organization, but also that of our excellent libraries, bookstores, and private literary organizations. And as we all enhance our understanding of stories and storytelling to include other art forms, the equally robust arts scene in our community —film, music, theater, the visual arts —plays a central collaborative role in the university's status as a center for the arts more broadly. Thus, the Stories Project has probably the strongest foundation in the country from which to build a unique venue that will offer the public exciting ways to learn, create, and experience in the captivating world of the written word. And the University of Iowa is eager to play its part in bringing this exciting vision to fruition. The Stories Project will not only grow the literary and arts culture in the community and region as well as provide unique opportunities for economic development, but it will also offer university faculty, staff, and students opportunities to increase their public engagement in the world of literature and writing. We are especially grateful to see the Stories Project's commitment to creating new audiences for the arts, which is an important goal of such UI institutions as Hancher Auditorium and the Stanley Museum of Art, and to the development of children's reading and the cultural life of rural communities. The UI currently is prioritizing initiatives to support rural communities, including investing in the rural health care workforce and expanding access and pathways to the university for students from rural communities. As well, we have long supported the development of children's education not only through training teachers in our excellent College of Education but also directly supporting their academic development through programs such as the Belin-Blank Center for Gifted Education and Talent Development. We at the UI will be proud to support an organization such as the Stories Project that will provide significant new outreach to these populations. We believe that the Stories Project will enhance the Iowa City area's cultural offerings in significant respects and will complement the University of Iowa's status as "The Writing University" in fruitful ways. We are very pleased to support this imaginative, innovative, and exciting initiative. Sincerely, Barbara J. Wilson President WT6101 Museum of Musaem UCD Naughton Joyce Centre, Literature Litriochtana Dublin 2,Iren'sGreen, Dublin reland Ireland htireann +353(0)17165900 Ref: Stories Project of Iowa City Date: 24 Octobe 2024 Re: Letter of support Dear Brent, I was very excited to speak with you in relation to your fascinating project in Iowa. As you know, we opened MoLI in 2019 to much international attention. Despite the Covid-19 pandemic occurring 6 months after we opened, our audiences have continued to grow, and the museum is moving closer to being a financially self- sustaining cultural institution - a rare thing in Ireland. Our experience of creating a contemporary literary museum has been fascinating - not only are there great needs within all communities for reading and writing - focussed activities across age groups, the subject matter lends itself to multiple interpretative approaches and has huge engagement potential. Our audience at MoLI is practically evenly split across age groups, from toddlers to elderly people learning to read for the first time. What is also interesting is that literature or story projects of this scale are relatively new in the cultural space and are breaking new ground. To that end, we are delighted to see a sister project being born in Iowa, and wholeheartedly lend our support in any way we can to its development. If you need advice or input at any stage, or if colleagues wish to visit MoLI for a closer examination of our work, you will be most welcome. With best wishes from Dublin, Simon O'Connor Director Newman House Literary Centre Company CLG, trading as Museum of Literature Ireland, registered at University College Dublin, Belfield, Dublin 4. Company No. 595268 Directors: P.J. Barron, P. Coulahan (secretary), moli.ie G. Keating (Chair), M. Kelleher, R. Leahy,$. MCCoole, A.Whitty. "04 To Whom It May Concern: #TIP Iowa Travel Industry Partners October 8, 2024 Iowa Travel Industry Partners (iTIP) is the state-wide tourism association dedicated to supporting tourism and hospitality through resources, education, advocacy, and marketing initiatives. On behalf of iTIP, and our 130+ members and partners, I extend our support for the Stories Project at the 21 South Linn Street location. The innovative space will be a remarkable addition to the cultural landscape of Iowa that will bring tourists to the state from across the country and beyond. From a financial standpoint, Stories is expected to serve as a major force for tourism, attracting academics, families, and inquisitive individuals from both near and far. This increase in visitors will boost the local economy, including hotels, restaurants, retail outlets, and service industries. Furthermore, the museum's scheduled events, displays, and educational initiatives will create ongoing opportunities for interaction, reinforcing Iowa City's role as the center of the literary world. iTIP wishes to extend our full support and best wishes for the successful establishment and growth of the Stories Project, as we see the potential it offers to tourism within Iowa City and the entire state of Iowa. Sincerely, J& e� Chelsea Lerud Executive Director Iowa Travel Industry Partners (iTIP) THINK IOWA CITY A COLLECTION of CURIOUS COMMUNITIES July 9, 2024 To Whom It May Concern: On behalf of Think Iowa City, the destination marketing organization of Johnson County, I am delighted to extend our enthusiastic support for the establishment of the Stories Project in Iowa City. This innovative space promises to be a remarkable addition to our cultural landscape and an invaluable asset to residents and visitors alike. The museum and gathering space present an engaging narrative of our community's literary history and future that is both unique and compelling. This forward -thinking approach aligns perfectly with our community's values of innovation, education, and progress. From an economic perspective, Stories is poised to be a significant driver oftourism, drawing scholars, students, and curious minds from across the region and beyond. The influx of visitors will undoubtedly benefit local businesses, from hotels and restaurants to retail establishments and service providers. Moreover, the museum's planned events, exhibitions, and educational programs will provide continuous opportunities for engagement and will continue to position Iowa City as a hub of intellectual and cultural activity. Think Iowa City is committed to supporting the Stories Project in several key areas: Marketing and Promotion: We will leverage our extensive marketing channels to promote Stories ongoing exhibits, ensuring maximum visibility and engagement within our target audiences. Community Partnerships: We will facilitate partnerships with local schools, the University of Iowa, and organizations to integrate the museum into educational curriculums and community programs, enhancing its impact and reach. Event Collaboration: We look forward to collaborating on special events, conferences, and workshops that align with the museum's themes, fostering a vibrant cultural calendar that benefits both the museum and the broader community. Think Iowa City is excited about the potential of Stories to inspire and educate, fostering a deeper understanding of Iowa City's place in the written word. We are confident that Stories will become a cornerstone of our community, enriching the lives of all who visit. We extend our full support and best wishes for the successful establishment and growth of Stories. Please do not hesitate to reach out if there is anything further in which we may assist. Warm regards, Josh Schamberger, President Think Iowa City — The Iowa City/Coralville Area Convention & Visitors Bureau TY W �URE June 27, 2024 President Nick Kaeding The City of Literature organization's mission is Vice President to build and support diverse communities of Judith Leavitt writers and audiences through the Treasurer Kellee Forkenbrock transformative power of story, and it is with this in mind that we support the Stories Project Secretary Maeve Clark team's efforts to bring a literature -theme d attraction to Iowa City and look forward to Board Aron Aji learning more about the project as it takes Megan Alter Alison Ames Galstad share. Venise Berry Y Anna Barker Elsworth Carman LaTasha DeLoach Linda Farkas Lisa Gardinier Jon Green Lyz Lenz Karen Miller Caleb Rainey Trinity Ray Jesse Singerman Barb Stein Iowa City UNESCO City of Literature 123 S. Linn St. Iowa City, IA 5240 (319) 887-6100 www.iowacityofliterature.org info@iowacityofliterature.org IOWA CITY DOWNTOWN ARTS ALLIANCE The Iowa City Downtown Arts Alliance recognizes the importance of a robust and dynamic downtown arts ecosystem to our community's well-being and the broader city-wide economy. We are encouraged by the Stories Project's potential to further enrich and expand our existing arts landscape. This initiative presents a promising opportunity to introduce new dimensions to our arts culture, fostering creativity and community engagement. Provided that the Stories Project collaborates with our current arts community, the ICDAA is pleased to support this endeavor. The ICDAA seeks to speak with a unified voice on behalf of the myriad arts organizations doing important work in downtown Iowa City. We believe that the Stories Project can complement these efforts and contribute positively to the vibrancy of our arts scene. We are keen to observe the proj ect's development and look forward to receiving further updates as it progresses. The Iowa City Downtown Arts Alliance Brink The Englert Theatre FilmScene Iowa City UNESCO City of Literature Porchlight Literary Arts Center Public Space One Rapson Collaborative Riverside Theatre Summer of the Arts (BRINK y�� R +�1y��ff77((1����ryw��yyJ�AA�ss TY ,PO, O R C .111—, RAPSON COLLABORATIVE R LIICRA�URE sU� THE ENGLERT THEATRE Terms: Prairie Lights / Stories Project Revenue Share October 17, 2024 Stories Project proposes to enter into a revenue sharing proposal with Prairie Lights, whereby Stories Project will purchase books wholesale from Prairie Lights, shipping costs included. The parties would agree to share revenue generated from the resale of books at the Stories Project museum, including but not limited to gift shop sales, sales elsewhere in the museum, or at on -site events. The parties have agreed to the following terms, to be reviewed prior to opening of the Stories Project site. Revenue Share For the purposes of this proposal, "Revenue" refers to all gross receipts of book sales at the Stories Project museum site.The revenue generated from sales shall be shared as follows: Stories Project 80%, Prairie Lights 20%. Deductions Before revenue is shared, the following expenses shall be deducted: sales tax. Payment Schedule Stories Project will pay out to Prairie Lights for books sold on a Net 60 basis. Return of goods In the event that Stories Project needs to return unsold books to Prairie Lights, Prairie Lights will refund Stories Project the full amount for the cost of goods. Pricing Stories Project agrees to maintain MSRP for books. Revenue Reports Stories Project agrees to provide Prairie Lights revenue reports on a bi- annual basis. Confidentiality Both Parties agree to keep all terms of this proposal and any financial or business information related to the proposal strictly confidential, except as required by law or agreed to by both Parties in writing. Intellectual Property Each Party retains ownership of its intellectual property, and nothing in this proposal shall transfer any ownership rights unless explicitly stated. Jan W i miller, Prairie Lights Books Brent Stinski, Stories Project of Iowa City IOWA CITY POETRY October 28, 2024 Dear Iowa City Council Members, I write in support of The Stories Project and its museum, as part of the RFP for 21 South Linn Street in Iowa City. I am writing to you as a representative of two different writing organizations, both of which support and stand to benefit from the proposed plan. Both of these community writing groups see The Stories Project as a unique opportunity to uplift the nonprofit writing organizations of Iowa City and, as a result, the thousands of Iowa City writers whom we serve. As the Founding Director of Iowa City Poetry, I have worked to support community writers since 2013. Last year alone, our organization served over 2,000 writers in Iowa City with programming such as IC Speaks with Caleb Rainey, Mic Check Poetry Fest, Iowa City Poetry Al Fresco, and The Free Generative Writing Workshops, offered with Porch Light Literary Arts Center. I am also writing to you as a founding member of the Coalition for Community Writers, a collective of writing nonprofits in Iowa City that includes PorchLight Literary Arts Center, among others. The perennial problem for organizations like ours is finding space for programming. We need space for generative writing workshops, readings, spoken word performances, and book clubs, and we need space for our administrative work. The Stories Project promises to address both of these needs. It proposes to provide regular meeting space for up to 30 participants and to offer the potential for shared administrative offices for local writing nonprofit organizations. It's difficult to overstate how empowering such space would be for groups like ours and, as a result, for the thousands of people we serve each year. In exchange for this space, Iowa City Poetry is joining other community writing groups to offer regular programing at the museum. These programs would engage the imaginations of community writers of all ages, identities, incomes, backgrounds, and experience levels. If plans for The Stories Project are realized, I believe that the museum will not only generate substantial tourism dollars for our city but it will contribute significantly to the well-being of Iowa City writing organizations and, as a result, to the Iowa City writers we work so hard to uplift. Yours sincerely, Lisa K. Roberts MA Founding Director, Iowa City Poetry Founding Member, Coalition for Community Writers Board Vice Chair, The James Gang 450 HWY 1 W #126, IOWA CITY, IA 52246 iowacitypoetry.com (402) 310-9377 PORCHLIGHT 10/29/2024 Dear City Council, I am writing on behalf of PorchLight Literary Arts Center and the Coalition for Community Writers. As you may know, PorchLight's mission is to foster community through the literary arts by way of events, classes and outreach. The Coalition for Community Writers is a newly founded organization working to support a healthy ecosystem of literary arts organizations in Iowa City. Founding members include PorchLight and Iowa City Poetry. We hope to include additional local groups in the weeks ahead. We are in dialogue with Stories Project regarding a proposed museum as part of the RFP process for 21 South Linn. We have discussed ways in which the coalition can work together with Stories Project to sustain or enhance our organizations' missions and financial stability in an increasingly competitive arts scene. Specifically, we are discussing how to minimize potential overlaps in programming and competition for grant funding and private donations. We have discussed how a space for the Coalition inside the Stories Project would work to our mutual benefit. Considered options include potential office space, as well as a space for writing events and workshops of varying sizes, from small groups up to gatherings of approximately 30 people. This larger space could be used for programming both by the Coalition and the museum itself. Both parties support a shared goal of working cooperatively, of finding ways to bring local writers and artists into the museum space, and of offering programming within the building that aligns with Story Project's mission. Please accept this letter as an indication of our interest in working with Stories Project in this regard. Sincerely, Jennifer Colville, MFA PhD Executive Director / PorchLight Literary Center Founding Editor / PromptPress Founding Member / Coalition for Community Writers •�,,r c, i f�� � �11 r w- nwr .�,.. gyp, �► r��, � � ro ,� - ��•: �.. ,1 � - ►w ii It EM WASHINGTON DUBUQUE t 0 To potential partners, Iowa City is one of the great world capitals of storytelling. A one-time home to Flannery O'Connor, Kurt Vonnegut, Tennessee Williams, John Irving, Louise Gluck, James Alan McPherson, Marilynne Robinson, Joy Harjo and many more we were the first community in the United States to be named a UNESCO City of Literature. We are a place of ongoing creation as well, not merely in writing, but also in performance, film, music, and visual art. A small town in a rural state can lay claim, we believe, to being one of the greatest cities for the arts in America. Those are some of the reasons why in 2008 residents came up with an idea. Operating under the working title "The Stories Project," local planners envisioned an institution encouraging visitors to deepen their appreciation of the arts of the written word a place to inspire visitors to engage more thoroughly with the stories they know, and to discover new ones they don't. N It almost came together. After extensive planning, a tremendous local coalition including civic groups, businesses, arts organizations, city governments, and the University of Iowa secured $20 million in Can state funding toward a planned $50 million project. But before work could begin, generational floods devastated our region, and state funding was diverted to disaster relief. A new Stories Project will explore all forms of storytelling through vibrant, cutting -edge exhibit techniques. Yet for all of our innovation, our roots will be deep in our past meshing with the great efforts of 2008, as well as longstanding local literary heritage. The time for Stories Project has come. "Have you been to Iowa City yet?" Americans may ask in the future. With time everyone will know what that question means. We hope you'll read on for more. Sincerely, Brent Stinski Executive Director v Stories Project of Iowa City At a gian Iowa City — with its vibrant cultural community and heritage of great authors — is the perfect home for a museum dedicated to the arts of the written word. F-A We'll engage all Americans, particularly rural and urban Iowans, both at the museum and in their own communities. The arts are good business and good for society. We'll welcome visitors and work to expand audiences for storytelling in its many forms. Ti T Our immersive and interactive approaches will inspire visitors to spend more time reading, helping boost literacy in America today. V"t Executive Summary Using Storytelling to Welcome, Engage, and Inspire Stories Project, a 501(c)(3) charity, will be an interactive museum to celebrate storytelling and draw new visitors to Iowa City. We will create an institution that fosters positive shared experiences for all, developing new audiences for great writing, and boosting literacy by inspiring visitors to read. Drawing from varying social sectors, particularly rural and urban populations from within our state, the museum will explore storytelling in all its forms not just in novels and poetry, but also films, song lyrics, oral histories, games, graphic novels, and more. Welcoming all audiences. While many museums excel at celebrating art works of the past, far too many place only a secondary emphasis on developing new audiences. Our museum will be designed at its core to promote literacy and expand appreciation for the arts of the written word in the process boosting an art form and also drawing new visitors to Iowa City, a benefit for our state and local economy. F,ngaging all communities. Situated in a medium-sized town in a rural state, we'll actively reach out to diverse demographic sectors and particularly seek to bridge gaps between rural and urban • Cv communities in American society today. We will use cutting -edge exhibit techniques to inspire all visitors with positive shared experiences, thereby creating common ground. Inspiring all to a�i�ireciate great writing. While exhibit strategies are still being refined, likely techniques will include immersive exhibits using 360-degree projection, interactive exhibits, and more. But all exhibits will work toward the goal of inspiring our visitors to read. We hope they'll leave with a stack of books and a renewed determination to make reading integral in their lives, year round. Home to the University of Iowa's internationally renowned writing departments, including the famed Writers' Workshop, Iowa City offers the ideal location for this institution. The museum, economically sustainable in its own right, will be situated in an ideal downtown location providing a springboard for visitors to enjoy other local cultural offerings, and even helping recruit new residents to the state. •/ Overall project timeline is five years, and initial funding targets include financing for three years of operation. Pro -forma profit and loss projections appear below. A Case for Support appears separately. C� Stories Project of Iowa City Statement ofNeed A Clear Opportunity, The Right Place Stories Project of Iowa City can address so many important national and local needs, one wonders why it doesn't already exist. We'll champion an art form. We'll bring communities together. We'll boost the cultural economy of one of the greatest small cities for the arts in the world and we'll work to inspire everyone, everywhere to read. All in one place. Below we explore each of these important needs. National Need: Expand Appreciation of an Art Form The arts are both good business and good for society as well. • Oxford Economics reports that in 2016 museums in the US supported the employment of over 726,200 workers and generated over $50 billion in GDP through direct, indirect, and induced effects, yielding $12 billion in local, state, and federal taxes.1 • A study on the ROI of museums by John Falk, seeking to quantify overall social and economic impact, finds that "every dollar given to a museum is likely to generate something on the order of $100 to $200 dollars in value to the community."z • According to the Arts & Economic Prosperity 5 report from 2017, arts and culture tourists "spend more and stay longer" than other types of tourists.s • The same study found that arts events generated $102.5 billion for local businesses across the United States. On average, "nonlocal attendees had twice as much event -related spending as their local counterparts ($47.57 vs. $23.44)." t • Findings from a longitudinal study indicated that kindergarteners who visited a museum, including art museums, had higher achievement scores in reading, mathematics, and science. These findings extended to subgroups of children with a higher risk for delay or deficit in educational development. The benefits are obvious. Nevertheless, too many cultural institutions today overlook a basic task: ensuring their own long-term engagement with the public by courting and welcoming new patrons. In focusing on great works of the past, some fine art museums can come across as austere and uninviting. Jazz and classical music organizations may cater to aficionados by playing familiar repertoire, yet may fail to coax in new listeners. 1 Oxford Economics. 2017. "Museums as Economic Engines: A National Report." American Alliance of Museums. Of the $50 billion in GDP, $34.2 billion resulted from supply chain and consumer activities, while the rest included various aspects of the US economy, including financial services, trade and transportation, as well as professional and business services. 2 Sheehan, Stacey. 2021. "Measuring Organizational Return on Investment: A continuing conversation with Dr. John H. Falk." Institutefor Learning Innovation. 3 Americans for the Arts. 2017. "Arts & Economic Prosperity 5."Americansfor the Arts. 4 ibid. 5 Swan, Deanne. 2014. "Children Who Visit Museums Have Higher Achievement in Reading, Math, and Science." Institute of Museum and Library Services. By contrast, Stories Project of Iowa City will seekfirst andforemost to welcome and involve new audiences in the arts, in this case the many arts of storytelling. Drawing from successful science museums, as well as rapidly expanding interactive art museums, we'll provide a place for visitors to roll up their sleeves, play with ideas, learn about works they don't know and get closer to the ones they already do. At Stories Project the arts will never seem remote, but accessible and real. After an emotional multi -hour experience, we hope all visitors will leave the museum with a renewed commitment to make reading a part of their lives. No such institution exists. But in a promising sign, contemporary institutions sharing this interactive spirit are thriving. The Leonardo in Salt Lake City, honoring the multidisciplinary Renaissance thinker, has achieved economic sustainability through interactive exhibits relating to both the sciences and visual art.0 The experimental, interactive visual art museums WNDR and Meow Wolf are expanding. Immersive projection exhibits on Van Gogh and Frida Kahlo have made an immense impact in recent years and inspired new immersive museums like Mercer Labs in New York, Superblue in Miami, Arcadia Earth in Toronto, and Arte in Las Vegas. These efforts validate the notion that Americans crave, and will reward, a more hands-on approach to the arts. From left: Arte (Las Vegas), The Leonardo (Salt Lake City), WNDR (Chicago) Therefore our opportunity is clear. We will take a growing and successful mode of communication the modern interactive and immersive museum and apply it broadly to storytelling, which we will define to include not only fiction and poetry, but also music, games, film, nonfiction, television and more. Our content opportunities are vast, and our potential audiences massive. National Need: Promoting Literacy But while Stories Project will always commit to meeting our audiences "where they are" — by celebrating the diverse storytelling media that audiences already consume we'll nevertheless work to nudge audiences toward a greater appreciation, in particular, of the written word. Our goal: to get our visitors, young and old, to read. Promoting literacy and cultivating new techniques to foster it is an urgent task for all of America. Last year, the National Center for Education Statistics found that 13-year-olds in the U.S. are scoring lower on reading tests than they have in decades' and the National Assessment of Education Progress found that only 43% of U.S. fourth -graders scored at or above a proficient level in reading.P Adults are of concern, too. Recent studies have found that 21 % of adults in the U.S. qualify as illiterate,0 and 54% read at below a sixth -grade level.10 The gravity of our national problem and need for resolute action to counter it is made abundantly clear by this shocking statement from the National Literacy Institute: To determine how many prison beds will be needed in future years, some states actually base part of their projection on how well current elementary students are performing on reading tests.'' s https://nonprofitlight.com/ut/salt-lake-city/the-leonardo % Elliot, Debby. 2023. "U.S. reading and math scores drop to their lowest levels in decades." Morning Edition. NPR. a Socol, Allison Rose. 2024. "The Literacy Crisis in the U.S. is Deeply Concerning and Totally Preventable". The Education Trust. e The Lucy Project. 2024. "Why Literacy?". The Lucy Project 10 The National Literacy Institute. 2024. "Literacy Statistics 2024-2025." The National Literacy Institute. 11 ibid. Via an evidence -driven approach, hopefully working with world-renowned experts at the University of Iowa, we'll seek to develop new techniques whereby public institutions and educators can help encourage literacy everywhere. National and Regional Need: BridLyinLy Rural and Urban Divides Our model could be successful anywhere. But Iowa City is the ideal place to begin. A community of approximately 100,000 people, in the 31 st most populous state, Iowa City nevertheless boasts a literary heritage rivaling cultural capitals such as Dublin, London, Paris, and New York. The combination is, truly, unique. We in Iowa City therefore have an opportunity: we can use storytelling to foster dialogue and offer positive shared experiences across social divides, particularly rural and urban sectors of society. Our state already provides wonderful examples of how to achieve this goal. Initiated in 2003, "All Iowa Reads" annually selects books for residents to read and discuss as a state-wide community. Our museum could collaborate with this successful program by curating exhibits relevant to the selected books, inspiring more to join in, and by sponsoring reading groups across the state. Such outreach programs help all Iowans to engage more thoroughly with great books and more empathetically with each other. In a parallel strategy, we can create traveling exhibits to tour the state, a practice used by both the Smithsonian and the United States Holocaust Memorial Museum. In particular we would seek to work with Iowa's local library network to make museum content accessible for people unable to travel to Iowa City. A traveling exhibit could explore a product of Iowa City's famed Writers' Workshop the book Shoeless Joe, which went on to become the film "Field of Dreams." Such an exhibit could emphasize the literary heritage of this cultural phenomenon and reach a broad array of Iowans: rural and urban, young and old. From left: HancherAuditorium, FilmScene Complex, Stanley Museum ofArt X AC It seems so unique yet truly needed. The idea of a storytelling museum is something we should have had far more of ages ago because we have some of the greatest artists and writers in this country. — A response in our Iowa survey Local Need: Perfecting Years of Investment Iowa City is at a tipping point as a national cultural destination. Since devastating, generational floods in 2008, our community has relentlessly invested in the arts. The University rebuilt a flood -destroyed art museum and performance auditorium, and Iowa City nonprofits constructed a new film complex, renovated an historical theater, and opened multiple new performance venues (see appendix). Meanwhile our arts festivals have grown, and local artists create new outdoor murals and art installations annually. To quote the tagline of a recent and successful fundraising campaign, we aspire to become the greatest small city for the arts in America. But our job is not finished. A lingering challenge is that performances and arts festivals while excellent attractors occur only periodically. We must provide a 365-day flagship destination for visitors. Stories Project museum can draw them in. We can also extend stays by, say, offering visitors discounted admission to local theaters, music venues, or our cinema complex, FilmScene. The museum can help attract new residents, too. Remote working after the pandemic has occasioned so-called "Zoomtowns," attracting professionals to smaller cities with lower costs of living. Typically such areas attract residents on the strength of outdoor recreational opportunities. As of yet there is no Zoomtown for the arts. By raising our city's profile, the museum can attract high -earning professionals who desire a creative community with a lower cost of living expanding our state-wide economy and tax base. From left: Iowa City Jazz Pest, Iowa City Book Festival, Iowa Ciy Book Marks Right Time, Right Place All of the needs outlined above, and many more, can be addressed by a single place. And that institution can be self-sustaining, culturally important, and an economic engine as well. Truly, the time for Stories Project has come. Project Description Inspiring Visitors with Stories So what will Stories Project be? At this early stage, of course, we must defer final programming decisions to allow for a design process to determine our long-term content strategy. But today we can reveal key values that are unlikely to change: taking an evidence -driven approach, the museum will draw from exhibit techniques that have proven successful in America and abroad, adapting them for our own purposes. In this section, we cite these examples to help readers imagine a possible visit to the future Stories Project. Throughout these examples, one finds a persistent theme— successful exhibits offer something audiences cannot find at other museums, at home, or via the intemet. Instead, they must be lived to be understood. Opportunity: connecting immersive spaces In recent years immersive exhibit techniques have seen dramatic expansion via innovative and popular 360- degree exhibits, particularly ones featuring the works of Van Gogh and Frida Kahlo. The method now is an essential component in multiple new museums, including Arte in Las Vegas, Mercer Labs in New York, and Arcadia Earth in Toronto. Using multiple projectors, these exhibits create spaces enabling visitors to "go inside" the art works in question. The technique offers clear logistical advantages: l . Exhibit spaces, needing only the infrastructure of projectors and white walls, allow for comparatively low initial investment, as well as the ability to change programming multiple times a day. Content creation costs, while initially high, continue to come down as technology improves. 2. While the original pop-up installations utilized enormous spaces, the technique can also be used in interlinking smaller rooms, as illustrated by The Leonardo in Salt Lake City and WNDR in Chicago. As users enter new rooms, an exhibit can "repurpose" previous rooms with new content, which users then re-enter, allowing a designer to extend the exhibit journey as long as required. 3. For most, an immersive experience cannot be replicated at home, as the closest analogue, VR headset technology, has not yet permeated the marketplace. We are considering allocating space for up to five interlocking immersive exhibit rooms, including a centerpiece for the entire museum a large-scale immersive atrium, providing a spectacular setting that users can photograph for sharing on social media. Stories Project ofAwa City Despite their initial applications to visual art, immersive exhibits are incredibly well -suited to explore storytelling. To help readers visualize how the approach might be applied, we present a hypothetical exhibit: "Great Beginnings." • The exhibit consists of a series of interlocking rooms, each focusing on one great book. • Users begin in an expansive immersive atrium. The space goes dark. • In silence, visitors see the opening lines of a novel say, "Call me Ishmael," or "I am an invisible man." • A narrator reads these lines and continues with the opening pages. New sentences appear, and we slowly notice accompanying music, atmospheric sounds, and images from where the story takes place. • The reading pauses as experts give their views on why these opening lines are so effective, or comment on the historical context or the author's life. • As we dig deeper into the opening chapter, the exhibit introduces more images, video clips from an adaptation or, even, a live reading within the immersive space. • We return to the text alone, illumined in the dark, underscoring all of the imaginative manifestation that arises from the written word. • By now visitors are hooked and want to know what happens next. That's where we stop. Each room focuses only on the opening pages, never giving away the ending encouraging visitors to read the book on their own. Visitors enter the next room, which explores a new work. • Visitors exit into a reading area, with comfortable chairs and copies of the books. They can sit and start reading for themselves, until they are ready to explore the rest of the museum. One could name many other immersive opportunities. An exhibit could explore song lyrics and accompanying music, adding in video of live performances. Another could explore the struggles of specific groups, for example taking Sandra Cisneros's The House on Mango Street as a window on Hispanic America, or Joy Harjo's poems as an exploration of Indigenous experiences. The immersive approach would also work well with adapted films or television shows, incorporating footage into an exploration of the original text, an approach that allows for partnership with larger media companies. Our immersive facility can also act as a venue for touring exhibits developed elsewhere, expanding our revenue opportunities. As an international library of immersive exhibits grows, we can work with partners to diversify our exhibits without having to invest in new content. Examples from our survey of story -related interactive exhibits 012portunity: interactive exhibits Immersive technology offers one kind of museum experience that must be explored first-hand; interactive exhibits offer another. Like a modern science museum, we will provide a wide array of experiences, and visitors can engage more deeply with exhibits of their choosing. As before, we provide general examples of what we might offer, based on efforts successful in other venues. Story generation experiences. A series of kiosks can enable visitors, particularly younger ones, to create stories and story -related imagery on the fly. A variety of technology approaches could apply: • Murder -mystery games. Many stories follow familiar patterns few more so than the old-fashioned murder mystery. Taking a cue from popular murder mystery parties and dinners, a group of visitors or a family could step inside a space, play out roles, and ask that age-old question, "Whodunnit?" Stories Project oflowa 04 • Editing experiences. At the Australian Centre for the Moving Image, a station presents visitors with a series of clips from popular TV shows or movies and instructs them to edit together a sequence that forms a story and narrates a scene. They take home a copy of their video afterwards. • Poster generation. At the History Colorado Center, the What's Your Story exhibit enables visitors to design a poster about something important to them and to share a part of their identity through the final design. For all of the above, we acknowledge that existing software packages may provide similar experiences at home. But a museum alone can add a key ingredient a live audience. For our murder -mystery games, visitors could watch other visitors playing out their roles. For visual content, monitors throughout the museum could display visitor -created images, giving younger visitors the affirmation of displaying their work for others to view. Encouraging expression. Taking our fun, technologically -driven kiosks a step further, we'll create opportunities for audience of all ages to express their own stories to the world. • Recording booths. Borrowing from "The Moth" and NPR's StoryCorps, we can provide recording booths where visitors can tell their own stories from personal anecdotes to family histories. We can work with media partners to broadcast select entries to a wider audience. • The National Story Archive. In this booth anyone can submit a written work for posterity a poem, a story, a personal history, anything. The goal is not publication or to find readership, but merely to put one's work into the world, like leaving a note in a prayer wall. Submissions may be selected for wider publication in museum -sponsored anthologies. • Crowdsourced writing. WNDR museum's The Wisdom Project challenges visitors with a question, "What's one thing you know for sure?" In response visitors write out often -provocative responses on small pieces of paper, which they then place on a large board that others can inspect. A similar exhibit at the Museum of Us, PostSecret, enabled visitors to walk through an exhibit consisting entirely of post cards submitted by anonymous individuals in San Diego, in which they share some personal secret. Live experiences. We can offer additional experiences built around personal interaction. Examples: • Ask a writer. Iowa City has writers so why not allow visitors to interact with them? Working with local literary organizations, we hope to attract practicing writers into the museum space. We can provide a seminar space for writers, as visitors listen to them workshopping new creations. Or we can provide a recording booth, where visitors can look on, as creators record audiobooks and podcasts in real time. • Bookmaking mini -courses. Potentially working with local partners such as the University of Iowa Center for the Book, or the IC Press Coop of the local arts collective Public Space One, we can provide visitors with a crash -course in the craft of bookmaking, using real equipment to typeset pages. Following the lead of Minnesota Center for Book Arts, extended courses could explore papermaking, binding, and eventually allow participants to create their own printed volumes. • Live performance space. Collaborating with a performance venue within the same building, and hopefully with local literary organizations like Prairie Lights Books, we can offer live readings when audiences overflow other available local venues. We can also offer other literary programming such as book clubs, or storytelling events like The Moth. Much of this content can be distributed widely via podcasts and other digital media. Stories Project oflowa 04 Opportunity: traditional exhibits The museum will offer traditional "walk-through" exhibits as well, adding interactive components when possible. Our survey of story -related exhibits at national and international museums uncovers so many successful examples: Tackling big classics. The museum can strive to make difficult literature accessible to visitors. "Ulysses 2.2" at the Museum of Literature Ireland, for example, challenged local artists to respond to a particular vignette or chapter from James Joyce's classic novel, relating it to the dynamic reality of Dublin today. Similar approaches could help introduce readers to challenging books like Moby Dick, Truman Capote's In Cold Blood, or the graphic novels of Art Spiegelman. Our history through writing. In addressing historical subjects, we can follow the lead of an upcoming exhibit from the Museum of the American Revolution, honoring the 250th anniversary of our nation's most defining piece of literature, the Declaration of Independence. The exhibit will explore the significance of the document through material objects, digital initiatives, and educational programming all illustrating how a single piece of writing not only influenced the course of history, but shaped American identity as well. Social reconciliation. In addressing social themes, we can follow the lead of the Des Moines Art Center's 2020 exhibit Black Stories showcased works from African -American artists so as "to embrac and experiences."' An interactive element incorporated commen by visitors both directly and via social media, encouraging open ( this sensitive subject matter. A story -related exhibit could seek co from Iowans and relate them to literary works ranging from Amo Gorman's poems to Zora Neale Hurston's Their Eyes Were Watchi) Literature made real. Using textual and historical research, we can d definitive recreations of artifacts say, dresses worn by Lily Bart of Mirth, or the tiny boat in The Old Man and the Sea. We can work companies to display props and costumes from adapted works, as Academy Museum of Motion Pictures. Opportunity: after the visit We hope to extend the visit virtually. Visitors can mark the books they discovered as a part of their visit to the museum, an app can then notify visitors of follow-up activities for example, an online book group on that same work. By coordinating these virtual follow-ups, we can motivate visitors to read daily, so as to be ready for the next virtual event. After a multi -hour experience, we want our visitors to exit Stories Project with the feeling that they have completed a journey. They stepped outside of their busy lives. They shut off their phones. They focused. And somewhere, at some point — they heard a voice that resonated. With luck, they'll seek out that thrilling experience at home, every time they open a book. 1 Des Moines Art Center. n.d. "Black Stories." Des Moines Art Center. Stories Project oflowa City Financial Projections: A Clear Opportunity The following pro -forma projections assume the completion of a successful fundraising campaign, which we outline in our attached Case for Support. Revenue and expense proportions are based on a synthesis of annual reports from 10 comparable museums with yearly expenses ranging from $2 million to $4.5 million, as well as national averages compiled in a report from the Association of Art Museum Directors. Exhibit and content costs An ideal target destination would encompass around 30,000 square feet, broken into approximately 14,650 square feet of usable exhibit space, a two -level, atrium -style immersive projection facility with a 2,500 square foot footprint, with remaining space dedicated to a lobby, egress, and facilities. We assume a 25% utilization factor for circulation and support features of the space. Exhibit costs vary depending on approach. We assume an average of $325 per square foot for interactive exhibits, envisioned to cover 60% of exhibit space, and we assume a cost of $200 per square foot for traditional historical and literary -focused exhibits, covering 40% of exhibit space. Additionally, we estimate a startup cost of $3.8 million for an immersive facility, including content creation. The pro forma profit and loss table below includes elevated Y1 costs to allow for continued content revisions/development subsequent to museum opening. Additional revenue Beyond admissions, space rental, and gift shop sales, the museum can explore additional revenue opportunities. While we envision a non-profit museum anchored in a permanent, brick -and -mortar location, the museum can also provide a testing ground for exhibits to be exported to other cities e.g. immersive content could be shown in temporary pop-up locations or at pre-existing immersive facilities. The museum has the potential to develop additional online content to celebrate storytelling and encourage reading, e.g. podcasts, online book clubs, and more. Exporting content in this manner opens new revenue opportunities for the brick -and -mortar "home base." Stories Project of Iowa City Pro Forma Profit & Loss Yl projection Y2 projection Y3 projection Y4/Y5 projection Government support State and local grants $498,960 $498,960 $498,960 $52,000 Federal grants $149,040 $149,040 $149,040 $149,040 Total government support $648,000 $648,000 $648,000 $201,040 Charitable giving $374,400 $702,000 $936,000 $1,182,960 Other income Admissions $79,200 $198,000 $264,000 $264,000 Retail sales $64,800 $162,000 $216,000 $216,000 Membership / special events $28,800 $72,000 $96,000 $96,000 Net investment income (loss) $43,200 $108,000 $144,000 $344,000 Miscellaneous income $28,800 $72,000 $96,000 $96,000 Total other income $244,800 $612,000 $816,000 $816,000 Total revenue $1,267,200 $1,962,000 $2,400,000 $2,400,000 Program expenses Museum operationsz $683,957 $759,952 $759,952 $759,952 Exhibit design / content3 $530,684 $353,789 $353,789 $353,789 Education and outreach $67,742 $203,226 $270,969 $270,969 Totalprogram expenses $1,282,383 $1,316,968 $1,384,710 $1,384,710 Supporting expenses General and administration¢ $468,723 $468,723 $468,723 $468,723 Fundraising' $246,567 $246,567 $246,567 $246,567 Total supporting expenses $715,290 $715,290 $715,290 $715,290 Total expenses Net Profit / Loss $1,997,673 $2,032,258 $2,100,000 $2,100,000 ($730,473) ($70,258) $300,000 $300,000 Assumes completion of the Launch Campaign outlined in our Case for Support. This figure does not represent giving associated with that campaign, but rather ongoing giving, e.g. new donations or memberships. Also a Growth Campaign would begin immediately after launch, driving increases in the "investment income" line item over time. 2 Including rent, building maintenance, IT, utilities, security, store, marketing and PR 3 Including temporary exhibitions, curatorial, and collections management 4 Including executive and staff compensation 5 Including development, membership, benefit events Stories Project oflowa City "The Greatest Small City for the Arts in America" The above statement originally the tagline for Strengthen • Grow • Evolve, a recent local fundraising campaign — lives on in city lore. Our museum hopes to provide one more step in Iowa City's long evolution toward becoming a national destination for the arts. In particular we hope to attract new visitors and boost the arts ecosystem in the Iowa City area, highlights of which include the following: • UNESCO City of Literature Iowa City • The Englert Theatre, historic renovated venue in downtown Iowa City • Hancher Auditorium, destroyed in the floods of 2008, rebuilt and reopened in 2018 • FilmScene, independent cinema complex in downtown Iowa City • Prairie Lights Books, housed in the former meeting location of a 1930s literary society with authors such as Langston Hughes and Robert Frost • Riverside Theatre, downtown theater which also offers outdoor summer performances in a dedicated Shakespeare theater • The James Theater, independent theater in the neighboring Market District • Stanley Museum of Art, also destroyed in 2008, rebuilt and reopened in a new location near downtown in 2022 • Public Space One (PSI), a community -driven contemporary art organization and exhibit space • Summer of the Arts, organization sponsoring year-round concerts and events, including the Iowa City Arts Festival and Jazz Festival • Porch Light Literary Arts Center, center and retreat in downtown Iowa City • Coralville Center for the Performing Arts, performance venue and local home of Orchestra Iowa • Mediacom Xtream Arena, Coralville mini -arena for sports, also a concert venue • IC Poetry, a nonprofit poetry community • University of Iowa Summer Writing Festival • BRINK, a literary journal • University of Iowa Center for the Book And many more. Stories Project oflowa City Iowa City's Literary Heritage We are the first city in America to be named a UNESCO City of Literature, and the third worldwide. A partial list of writers who have spent time here: Margaret Walker Sheba R. Wheeler John Irving Alice Notley Joy Harjo Kurt Vonnegut, Jr. Donald Justice John D'Agata Haki R. Madhubuti Orhan Pamuk Gail Godwin Charles Wright Mildred Wirt Benson Horacio Castellanos Moya W. S. Merwin Marilynne Robinson W. P. Kinsella Ray Young Bear Flannery O'Connor Frank Conroy Juan Felipe Herrera Carolyn Kizer Abraham Verghese Tennessee Williams T.C. Boyle Marquis Childs Marvin Bell Andre Dubus Paul Engle Yiyun Li Wallace Stegner Philip Levine John Cheever James Alan McPherson Tomaz Salamun James Tate Jane Smiley Robert Dana Mo Yan Philip Roth Cathy Park Hong Louise Gluck Jorie Graham John Berryman Raymond Carver Rita Dove Robert Penn Warren Yaa Gyasi's Robert Lowell Is this Hollywood? No, it's Iowa. Iowa farm exports find their way into every household in America. In similar fashion, so does writing with ties to the University of Iowa. W.P Kinsella's Shoeless Joe adapted into Field of Dreams offers but one example. A partial list of screen works with University of Iowa ties: A Quiet Place A Streetcar Named Desire Arrested Development Avengers: Infinity War Big Hero 6 Blue Bloods Captain America: Civil War Captain America: The Winter Soldier The Cider House Rules Community Deadwood Field of Dreams Game of Thrones GIRLS The Glass Menagerie Gossip Girl Halt and Catch Fire House of Cards Juno Mad Men The Man in the High Castle Moana Pet Sematary (2019) The Queen's Gambit Raya and the Last Dragon Saving Brinton Six Feet Under The Sopranos St. Elsewhere True Detective Watchmen (limited series) The West Wing The World According to Garp Young Frankenstein Stories Project oflowa City Conclusion A Clear Opportunity, The Right Place Stories Project is an opportunity for the taking. Our vision will address both local and national needs, while providing an original offering in the American museum landscape. Our well -researched plan will have maximum public impact. And we have countless subjects on which to create compelling exhibit content, as we target large and diverse audiences, both within Iowa and in regional urban centers. We also offer the destination of Iowa City itself. Visitors will come for the museum, and extend their stays to take in additional cultural offerings. With its welcoming approach, the museum will eventually make Iowa City a destination for Americans everywhere inviting all to join us in appreciating the arts of the written word. We'd love to talk in person about our plan. Please contact us today. Stories Project of Iowa City Stories Project Vloze�a GO Pressed for time? Just hit play. Watch our Stories Project launch video, featuring many members of our team! https: / /lnk.bio /storiesproj ect See exhibits that inspire our vision and see early mockups too! https: / /lnk.bio /storiesproj ect Get all the big takeaways from our research study in just 10 minutes! https: / /lnk.bio /storiesproj ect Why they like it, in their own words • We asked open-ended questions where participants could say whatever they wanted. • Q:In this a eywe va asketlg antl(InB abaala d dicated to wriung.bauks, and smrytewng. In et test two sentences, tee us what you think ab—tha id -fora museum Like 1 this. We then grouped responses into cstegories Strong approval figures, with strong themes of educational value (17%) and ongoing education and self -imp —at (17%) • Select qualitative responses evailahle in our supplemental document Mes eutliaeca Ru-ages 17% imPmvamant 1J% r 10/72/24 9r«lea Pmlecl of lows o", 9 i Stories Project Of Iowa City Pressed for time? See our 10-minute video walkthrough here: https://Ink.bio/storiespro*ect Research presentation Making the case via research • This was an internal study • Crosstabs and raw qualitative • Overseen by Executive Director comments will be available Brent Stinski, a market research executive since 2007 • We conducted two surveys: • A nationwide survey conducted • No use in doing a push poll — by Stories Project (n=2,708) we'll let the data speak for • A statewide survey conducted by itself Stories Project (n=1,893) 10/26/2024 Stories Project of Iowa City Big picture:. national reactions Stories Project survey results National Survey: method • This was an internal study, overseen by Brent Stinski, who has been a market research executive since 2007 • We recruited a large and balanced national sample to a compensated survey that took approximately 5 minutes • N=2,708 • Further balancing of the sample to match 2020 census proportions • Goals: • What do you think of an idea like Stories Project? • And what do you think of such a place havinga home in Iowa City? 10/26/2024 Stories Project of Iowa City Strong interest in the core concept • Q: Imagine that, within a reasonable driving distance, there is a museum dedicated Interest to books and storytelling, including stories in novels, movies, games, TV shows and more. Would you be interested in visiting such a museum? Neutral • Across all demos -age, ethnicity, gender, and race -we see widespread approval for the core concept Not interested • Top two boxes 72% • Bottom two: 12% I 0% 10% 20% 30% 40% 50% ® Strongly interested ®Somewhat interested ® Neutral ®Somewhat not interested ® Not interested 60% 70% 80% 10/26/2024 Stories Project of Iowa City 5 A gap in the national museum landscape • Q: One purpose of museums is to bringvisitors closer to an art form. Which of these would you most like to visit? (Choose one.) • The question forces the participant to choose between the major art forms around which a museum could be built — visual arts, music, literature/stories, and crafts • We expected art museums to come in first Crafts and Decoi Arts, • Stories placed along side the other contenders. Stories, • Takeaway: one -fifth of national respondents chose a museum about storytelling above all other options ... 10/26/2024 Stories Project of Iowa City Music, 23% >ua[Art, 38% The opportunity Number of museums, United States 3000 2620 • ... and there are almost no museums 2500 I about storytelling in America 2000 • Think about it: 1-in-5 Americans made storytelling their first choice - and 1500 virtually no one is meeting that need 1000 • That's the definition of opportunity 500 1 219 ■ 68 / 5 o � Source: IMLS report (2014) as well as website data from Museums.us and the American Craft Council Visual Arts Crafts Music Stories 10/26/2024 Stories Project of Iowa City 7 Americans want young people to visit Q: Do you think it would be good for young people to visit such a museum? Top two boxes: 85% Only 2% disapproval Neutral 6-M Disapproval I 0% 10% 20% 30% 40% 50% 60% 70% ® St magly agree ®Somewhat agree ® Neutral ®Somewhat disagree ® Strongly disagree 80% 90% 100% 10/26/2024 Stories Project of Iowa City 8 Why they like it, in their own words Speci • We asked open-ended questions where participants could say whatever they wanted. • Q: In this surveywe've asked questions about a museum dedicated towriting, books, and storytelling. In at least two sentences, tell us what you think about the idea fora museum like Other this. 8% • We then grouped responses into categories • Strong approval figures, with strong themes of educational value (17%) and ongoing education and self-improvement (17%) • Select qualitative responses available in our vout supplemental document Has audience All -ages 4% 3% �M 17%v improvement 17% 10/26/2024 Stories Project of Iowa City 9 3eneral pproval 38% If- Qualitative highlights: national survey • "The concept of a museum dedicated to writing, books, and storytelling is intriguing and has the potential to serve as a valuable cultural and educational institution." • "...A museum dedicated to storytelling could be really engaging and give visitors of the museum anew perspective on storytelling." • "I believe this museum would be very beneficial and give Iowa something special. I don't hear much about Iowa so it might help get people [to the state]." • "I think it's a good idea. I think it's very much needed." • "It would be an enchanting place to explore where reading can come to life." • "I think this type of a museum would be attractive. Not only is it a way to get people to read more but would also bring people together." "This could be a great interactive experience and serve to address the importance and joys of storytelling. It can also linkthis art form to preserving history/culture as well as envisioningthe future which are both critical for humanity." • "Museums like that offer culture. Culture that cultivates conversation among a different group of people." Hundreds of additional comments available 10/26/2024 But national perceptions of Iowa and IC could be better What's your interest in visiting Iowa? (1-5 scale) 35% 30% 25% 20% 15% 10% 5% 0% Definitelynot Notcurious Noopinion Curious Definitely interested interested Which cities would you be interested in visiting? (Choose all that apply) 10/26/2024 Stories Project of Iowa City Des Moines Cedar Rapids Sioux City ::EE:) Waterloo Davenport / QC Council Bluffs Dubuque Ames 1213 953 784 668 457 354 220 203 178 National survey: conclusions • Strong interest in the concept of Stories Project • Huge approval for young people to visit • An opportunity in the market • But we need to spark more interest in Iowa and Iowa City 10/26/2024 Stories Project of Iowa City Zeroing in,,*. Iowa reactions Stories Project survey resu«6 10/26/2024 Stories Project of Iowa City Iowa survey: method • We recruited a large and balanced sample to a compensated survey that took approximately 8 minutes • N=1,893 • Further balancing of the sample to match 2020 census proportions • Goals were similar: • What do you think of an idea like Stories Project? • And what do you think of such a place having a home in Iowa City? • Additional questions: perceptions of Iowa City 10/26/2024 Stories Project of Iowa City Iowans: the arts instill pride • Q: Please consider the following statement. "The arts — such as live performances, museums, and arts and music festivals — inspire a sense of pride among Iowans." • Top two boxes: 76% • Bottom two: 6% Neutral I& Disapproval M 0% 10% 20% 30% 1 40% 50% 60% 70% ® St tangly agree ® Somewhat agree ® Neutral ®Somewhat disagree ® Strongly disagree I 80% 90% 100% 10/26/2024 Stories Project of Iowa City 15 Iowans: the arts boost economic activity • Q: Please consider the following statement. `he arts — such as live performances, museums, and arts and music festivals — can boost economic activity and tourism and help Iowans prosper." • Top two boxes: 85% • Bottom two: 3% it 12%7 Disapproval 0% 10% 20% 30% 40% 50% 60% 70% ® St rongry agree ®Somewhat agree ® Neutral ®Somewhat tlisagree ®St rongry tlisagree 80% 90% 100% 10/26/2024 Stories Project of Iowa City 16 Iowans: government should encourage arts • Q: Please consider the following statement. "Local and state governments should encourage the arts, such as live performances, museums, and arts and music festivals." • Top two boxes: 83% • Bottom two: 4% Approv Disapproval 0% 10% 20% 30% 1 1 40% 50% 60% 70% ® St tangly agree ® Somewhat agree ® Neutral ®Somewhat disagree ® Strongly disagree I 80% 90% 100% 10/26/2024 Stories Project of Iowa City 17 Like America, Iowans like the concept • Q: Imagine that, within the state of Iowa, there is a museum dedicated to books and storytelling, including stories in novels, movies, games, TV shows and more. Would you be interested in visiting such a museum? • Results clocked in the same as in the national survey • 75%- strongly interested or somewhat interested • 16%- neutral • 8%- not strongly interested or no interest 10/26/2024 Stories Project of Iowa City Iowans also want young people to visit Q: Do you think it would be good for young people to visit such a museum? Top two boxes: 87% Disapproval at just 2% Approv Neutral 6 J. Disapproval I 0% 10% 20% 30% 1 1 40% 50% 60% 70% ® St magly agree ®Somewhat agree ® Neutral ®Somewhat disagree ® Strongly disagree I 80% 90% 100% 10/26/2024 Stories Project of Iowa City 19 Qualitative: Iowans also see betterment • As in the national survey, We asked open-ended questions where participants could say whatever they wanted. Q: In this survey we've asked questions about a museum dedicated to writing, books, and storytelling. In at leasttwo sentences, tell us what you think aboutthe idea for a museum likethis. • We then grouped responses into categories • Many see an opportunity for self -betterment or for education ofyoungpeople Remarks relatingto education: 171/o Remarks relating to the museum helping in education/betterment: 15% • Select qualitative responses available in our supplemental document Other 6% Specific id& 7% Disapproval 8% Ongoing education/s improveme 15% eaucauon 17% General approval 40% ental 10/26/2024 Stories Project of Iowa City 20 Qualitative highlights: Iowa survey • "I think Iowa City is the perfect place for this." • "It seems so unique yet truly needed. The idea of a storytelling museum is something we should have had far more of ages ago because we have some of the greatest artists and writers in this country." • "I thinkthat it would be important. Stories tell us about the past and give us ideas for the future. A place where people focus on these aspects could change things in this world." • "...I would definitely go to visit Iowa City if they had this!" • "Innovative idea for a museum. Itwould be great to showcase Iowa talent in both literature and storytelling." • "I thinkthis type of museum would fit perfectly with Iowa City. The University of Iowa is well known for it's Writing Program and this museum would complement this strength completely." • "I thinkthat it would be very neat. Itwould be a great asset to the community." • "There is a need for more facilities that preserve art and culture. Society as a whole is losingthe art of storytelling." Hundreds of additional comments available 10/26/2024 Iowans have favorable views of Iowa City • Q: "What is your view of Iowa City?" • 58% of Iowans approve of Iowa City, with 34% reporting to be neutral • That leaves only —6% who disapprove • Neutral responses were high. Iowa City has work to do to raise awareness and Neutral, interest. 10/26/2024 Stories Project of Iowa City Somewhat Strongly unfavorable, 5% unfavorable, 1% favorable, 32% ,ugly 'able, M Qualitative: what they do like about IC • We asked those that expressed approval why they felt that way. othe 5% • These open-ended qualitative Arts/culture comments were categorized 5% Positive city • Of the 58%who reported approval, ambiance University of Iowa dominated open- 8% ended qualitative comments • The arts kept a low profile at 5%, indicating room for growth Diversity Politics Sh000ing 3% 2% Dining 2% General positive Variety of activities Y 10% University 15% 10/26/2024 Stories Project of Iowa City 23 Qualitative: what they don't like about IC • Only 6% of respondents reported disapproval of Iowa City • We then asked that subsection why they felt that way • These open-ended qualitative comments were categorized • Approximately 1-in-5 of this 6% subsection cited politics as a main reason for disapproval • That's 1.1 % of the overall total of respondents • Select quotations available in our supplemental document Genera Idisliki 8% Party town 10% People Crime 3% 3% Too far away 16% T^^ " ,' .ongested 1% Politics 19% 10/26/2024 Stories Project of Iowa City 24 Children's Museum leads awareness among cultural venues • Q: Which of these Iowa City destinations have you heard of? Check all that apply • Longstanding institutions lead the way- but relative newcomer Xtream Arena clocked in well • With the exception of ICPL, downtown institutions trailed Rank 1 Location Iowa Children's Museum Mentions 894 2 Iowa City Public Library 636 3 Coralville Centerforthe PerformingArts 515 4 Xtream Arena 512 5 HancherAuditorium 503 6 None ofthese 476 7 Riverside Theater 429 8 Stanley Museum of Art 299 9 Englert Theater 287 10 Prairie Lights Bookstore 269 11 Flimscene movie theaters 131 12 Voxman School of Music 130 13 James Theater 123 14 Public Space One 90 10/26/2024 Stories Project of Iowa City 25 Iowa Conclusions • Iowans like the Stories Project concept and want children to attend • Iowans want governments to support the arts • Iowans really like Iowa City- and politics doesn't change that • Iowa City can be the Greatest Small City in the Arts in America - but we're not yet getting that message out 10/26/2024 Stories Project of Iowa City There's much more . . . • There's so much more to to the data. We welcome you to inspect it and reach your own conclusions. • Our supplemental documents offer statistically balanced crosstabs • They also offer selected qualitative comments and analysis • Stories Project only succeeds if it speaks to all Americans and all Iowans — we'll be scouring the data to discover anything we can do to meet the community need 10/26/2024 Stories Project of Iowa City Item Number: IP5. CITY OF IOWA CITY COUNCIL ACTION REPORT January 30, 2025 Pending City Council Work Session Topics Attachments: Pending City Council Work Session Topics + r , CITY OF IOWA CITY UNESCO CITY OF LITERATURE PENDING CITY COUNCIL WORK SESSION TOPICS January 29, 2025 Currently Scheduled March 11, 2025: Conference Board Update from Think Iowa City ■ May 6, 2025: Comprehensive Plan Update (Joint meeting with the Planning & Zoning Commission) FY23-25 Strategic Plan Action Item Tonics Reouirin2 Council Discussion: ■ Explore legal steps to discourage or prevent bad faith and predatory property investors • Advance prioritized recommendations in the 2022 Affordable Housing Action Plan. Work with partners to undertake significant -scale affordable housing efforts ■ Develop a vision statement for a singular regional transit system with metro Johnson County entities and obtain initial commitments to study a regional system from each entity's elected officials Other Topics: • Discussion of board and commission appointment process • License plate reader technology discussion • Air quality discussion ■ Alternative crisis response discussion • Historic preservation incentive discussion Note: Some items on the Pending List may require staff research and information gathering prior to scheduling. Item Number: IP6. a CITY OF IOWA CITY "QR T-4 COUNCIL ACTION REPORT January 30, 2025 Memo from City Manager's Office: Housing Information Attachments: Memo from City Manager's Office: Housing Information �'r.� CITY OF IOWA CITY MEMORANDUM Date: January 30, 2025 To: Mayor and City Council From: City Manager's Office Re: Housing Information At your October 15, 2024 work session you asked staff to provide you housing related information on a recurring basis prior to each City Council meeting. Staff intends to add to this memo with each Information Packet that is publicly released prior to formal City Council meetings. We welcome feedback on the type of information that you believe will be most informative and useful in your roles as City Councilors. Date Topic October 31, HUD Point -in -Time Count: This is a required count 2024 1 conducted across the country of sheltered and November 14, 2024 unsheltered people experiencing homelessness on a single night in January. In 2023, the count revealed 160 sheltered and 18 unsheltered individuals in Johnson County. In 2024, the count revealed 159 sheltered and 22 unsheltered individuals in Johnson County. Housing Choice Voucher Utilization Rate: The utilization rate refers to the number of housing choice vouchers that are under lease as a percentage of total vouchers available. As of July 2024, the national utilization rate is 86.23%. The State of Iowa utilization rate is 82.74%. The Iowa City Housing Authority utilization rate of 92.85% exceeds both the national and state figures. Source Institute for Community Alliances (ICA) htt s://icalliances.or 1 it HUD Housing Choice Voucher Data Dashboard https://www.hud.gov/progra m offices/public indian hou sing/program s/hcv/dash boar d January 30, 2025 Page 2 December 5, 2024 ICAAR Market Trends: ICAAR collects data about home sales monthly. In Oct. 2024, the median sales price was $376,250 for single-family (up 29.9% from Oct. 2023) and was $274,000 for a condominium (up 8.5%). However, the median sales price per square foot only increased 8.3%, which suggests some of the increase is due to the size of homes. In addition, the active inventory has increased 37.7%, which can help slow inflationary pressures. Iowa City Area Association of Realtors (ICAAR): https://icaar.org/market- trends/ January 2, 2-Bedroom Housing Wage: The National Low National Low Income 2025 Income Housing Coalition computes housing wages Housing Coalition Out of across the country (the hourly wage rate needed to Reach Report. afford housing in the selected geographic region). In https://niihe.org/oor/state/ia Iowa, the 2-bedroom housing wage across the state is $18.86. For the Iowa City metropolitan area, the 2-bedroom housing wage is $20.81. January 21, Cost Burden: A household is considered housing 2023 5-Year American 2025 cost burdened if it spends more than 30% of its Community Survey Data by February 4, 2025 income on housing expenses, including rent, the U.S. Census Bureau mortgage payments, and utilities. In 2023, 59.3% of I https://data.census.gov/table renters and 18.0% of owners were housing cost /ACSDT5Y2023.B25106?u= burdened. Households with lower incomes are more ipwa%20city°I%20cost%20bu likely to experience cost burden: 91 % of households rden°/o20by°�o20tenure&t=0 making less than $35,000 are cost burdened. wner/Renter%20 Tenure Cost of Home Construction: The NAHB regularly conducts a national, non -statistically valid survey of builders about the cost breakdowns for a new single-family home. In 2024, the average finished area of a new home was 2,647 square feet, and the average total sales price was $665,298. Construction costs accounted for approximately 64.4% of the sales price. Meanwhile, the finished lot Cost of Constructing a Home-2024 by the National Association of Home Builders (NAHB) https://www.nahb.orq/- /media/NAHB/news-and- economics/docs/hou sing- economics-plus/special- January 30, 2025 Page 3 cost was 13.7% of the sales price, while other overhead costs — including financing, general expenses, marketing, and sales commissions — made up another 11.0%. This left an average of 11.0% which constituted profit. studies12025lspecial-study- cost-of-constructing-a- home-2024-january- 2025.pdf r CITY OF IOWA CITY � S j% 47 " MEMORANDUM Date: January 30, 2025 To: Mayor and City Council From: City Manager's Office Re: Housing Information In December 2024, Mayor Pro Tern Salih clarified with the City Manager's Office which specific data was of interest for regular reporting. That is reflected in the table below. Month HCV Waiting List* (# in Top Preference Category) Dec `24 10,091 (1,205) Jan `25 10,087 (1,204) Public Housing Waiting List* Homeless (# in Top Preference Category) Count** 1,627 (570) * Data is sourced from the Iowa City Housing Authority (ICHA). The Top preference category includes households that are elderly, disabled or have minor children; and are also living and working in the ICHA jurisdiction (Johnson County, Iowa County and Washington County north of Highway 92). ** Data source is still being investigated. Item Number: IP7. a CITY OF IOWA CITY "QF T-4 COUNCIL ACTION REPORT January 30, 2025 Memo from Neighborhood Services Coordinator: Revised A2A Program Policies Attachments: Memo from Neighborhood Services Coordinator: Revised A2A Program Policies �r F CITY OF IOWA CITY UNESCO CITY OF LITERATURE CITY OF IOWA CITY MEMORANDUM Date: January 29, 2025 To: Geoff Fruin, City Manager From: Erika Kubly, Neighborhood Services Coordinator Re: Revised A2A Program Policies City Steps 2030 City Council approved Iowa City's five year consolidated plan, City Steps 2030, on January 21, 2025 under Resolution 25-29. The plan provides a framework for federal funding priorities and outlines the eligibility for Aid to Agencies (A2A) funding through direct and competitive processes. Public Service Priorities All agencies funded through A2A must meet the following public services priorities established in the plan: • Homeless and Shelter Services • Food Insecurity • Healthcare (including mental & behavioral health) • Childcare and Youth Services • Housing Stability Services • Transportation Agencies who serve populations with high barriers to accessing services such as immigrants and refugees, persons with disabilities, elderly populations, or victims of domestic violence will also receive prioritization. Direct A2A Funding City Steps 2030 established a direct funding process for selected agencies who meet public service priorities and other selection criteria in the table below: Direct Fundina Selection Criteria Meets City Steps Priority Agency provides an essential service that is identified as a priority in City Steps 2030. Local Agency's headquarters is located in Iowa City and serves Iowa City residents. Agency has full-time, dedicated professional financial staff. Financial Capacity Agency has a single audit annually or has equivalent process that demonstrates financial oversight. Quality of Operations Agency demonstrates sound operational practices. Agency consistently meets performance measures and Performance demonstrates an increase in the work performed and clients served over time. Agency provides timely submissions of reports and responses to staff inquiries. CDBG Eligibility Any agency identified for direct funding must be eligible to receive the CDBG portion of the public services fundinq. January 29, 2025 Page 2 Six agencies who provide core services to the community that align with the city's strategic values were selected for direct funding. Each agency also meets all the consideration criteria and would be eligible to utilize CDBG public service funding. Agencies that receive direct funding are not eligible to participate in the competitive round. The selected agencies include: • CommUnity Crisis Center and Food Bank • Domestic Violence Intervention Program (DVIP) • Iowa City Free Medical Clinic • Neighborhood Centers of Johnson County (NCJC) • Shelter House ■ United Action for Youth (UAY) The funding for these agencies is determined through the competitive allocation process during the first year of the five year plan. The amount received is then prorated in subsequent years by the amount of funds available each year. Agencies to receive direct funding will be reviewed with each new 5-year plan. These agencies may change in subsequent 5-year plans due to changing conditions, priorities identified, etc. Competitive A2A Funding The City will continue to hold a competitive A2A funding round every two years. Any nonprofit in good standing that meets at least one'of the public service funding priorities and serves low- to moderate -income residents may apply. Minimum funding is $20,000. Those awarded will receive two fiscal years of funding with the award amount prorated based on the year two budget. Aid to Agencies Budget City Steps 2030 does not provide budget recommendations for the Aid to Agencies program. During a funding cycle, staff will score applications and provide funding recommendations to the Housing and Community Development Commission (HCDC). HCDC can support or revise the funding recommendation. City Council will review and approve the funding recommendations after the fiscal year budget has been approved. On the second year of the funding cycle, allocations will be prorated based on the approved fiscal year budget. As part of the public comment for City Steps 2030 approval, members of the public proposed limiting funding for both direct and competitive categories to 50% each. In FY25, about 53% of funding was allocated to the six direct funding agencies and about 47% to the remaining current Legacy and Non -Legacy Agencies. The table below depicts those funding allocations: Agency CommUnity FY25 Award $69,679 DVIP & RVAP $60,515 + $28,240 Free Medical Clinic $40,344 NCJC $70,601 Shelter House $100,647 UAY $34, 796 Total $404,822 53% All Other Legacy Agencies 13 $328,622 All Non -Legacy Agencies 6 $37,000 Total $365,622 47% A2A Total Budget $770,444 Funding Recommendations for FY26 Staff anticipates using the FY26-27 competitive funding allocations as the basis for direct funding awards for the next five years. In staff's initial recommendation, the six direct funded agencies January 29, 2025 Page 3 received nearly 58% of the total A2A budget. After the council discussion on January 21st, staff provided a revised recommendation with approximately 50% of the total budget going to both the direct funded and competitive agencies. Both recommendations are attached to this memo. HCDC was scheduled to review and make a funding recommendation for A2A at their January 27th meeting but were not able to reach a quorum to hold the meeting. Two commissioners provided funding recommendations which are also attached to this memo. Considerations for Limiting Budgets of Direct or Competitive Funding: Staff did not recommend budget limitations for either group of agencies as those amounts were expected to be established through a competitive funding process and carried through for several years based on budget proration. The competitive funding process aligns with established priorities, approved scoring metrics and the intentions of the program to provide stable operational funding for community partners providing necessary public services. Council requested a policy that provides an approximate 50/50 split in allocations to Direct and Competitive Funded agencies. Staff altered their recommendations to meet the intent of this direction. Staff does note that when scoring applications, the highest scores are considered first for increased funding. Funding allocations may not reflect the agency's score, based a number of metrics, if funds must be moved to meet a strict 50/50 split. Unforeseen circumstances can also arise during the 5-year plan. For example, in 2024 Rape Victim Advocacy Program (RVAP) services were taken over by the Domestic Violence Intervention Program (DVIP), a proposed direct funded agency. The City was able to transfer funds awarded to RVAP to DVIP to continue critical services. If there had been a funding limit in place, staff would not have been able to make this accommodation, and there may have been a loss of services in the community. Without the RVAP award, the six direct funded agencies received 49% of the total A2A budget in FY25. For flexibility and to address items not contemplated during the upcoming years of the 5-year plan, staff recommends a higher budget limit. For example, no more than 60% of the total A2A budget for either funding category. This option provides additional parameters to ensure direct funding recipients are not allocated a disproportionate level of funding but is less restrictive so it would not necessarily reduce funding for the direct funded agencies. Proposed Policy Language The goal of the Aid to Agency budget is to provide an approximate 50/50 percentage split of funding between direct funded agencies and all other agencies submitting for assistance through the competitive portion of the Aid to Agencies grant process. In any year, no more than 60% of the total Aid to Agency budget can be allocated to either funding category. RecommendationFY26 Legacy A2A Funding Recommendations Initial Staff posted Dec 2024 Staff Recommendation Agency FY23 Allocation FY24 Allocation FY25 Allocation FY26 Request Staff Recommendation Staff Score % Change from FY25 to FY26 $ Change from FY25 to FY26 Inside Out Reentry $42,734 $31,000 $31,266 $35,000 $35,000 94 12% $3,734 Neighborhood Centers of Johnson County $58,759 $70,000 $70,601 $150,000 $80,000 94 13% $9,399 Shelter House $90,810 $99,790 $100,647 $109,770 $109,000 94 8% $8,353 Free Medical Clinic $26,709 $40,000 $40,344 $100,000 $50,000 93 24% $9,656 Table to Table $33,119 $40,000 $40,344 $50,000 $45,000 93 12% $4,656 Domestic Violence Intervention Program (now includes RVAP) $53,418 $60,000 $60,515 $97,630 $95,000 92 57% $34,485 United Action for Youth $35,256 $34,500 $34,796 $40,000 $39,000 92 12% $4,204 Arc of Southeast Iowa $21,367 $22,400 $22,592 $25,000 $25,000 91 11 % $2,408 HACAP $19,230 $27,270 $27,504 $28,634 $28,600 90 4% $1,096 Free Lunch Program $47,007 $15,000 $15,129 $25,000 $16,000 87 6% $871 CommUnity Crisis Center and Food Bank $74,037 $69,086 $69,679 $77,000 $73,000 86 5% $3,321 Aging Services (formerly Pathways) $26,709 $15,000 $15,129 $27,000 $15,500 83 2% $371 Horizons $26,709 $38,000 $38,326 $38,000 $36,000 81 -6% $2,326 Big Brothers Big Sisters $26,709 $27,125 $27,358 $28,000 $25,000 79 -9% $2,358 Iowa Valley Habitat for Humanity $26,709 $27,029 $27,261 $40,000 $23,344 77 -14% $3,917 Houses into Homes $0 $15,000 $15,129 $30,000 $15,000 76 -1% $129 Community and Family Resources $42,734 $0 $0 $20,000 $15,000 67 NA $15,000 4Cs Community Coordinated Child Care $26,709 $28,000 $28,240 $78,000 $15,000 63 -47% $13,240 Dream City $0 $25,000 $25,215 $60,000 $0 55 -100% $25,215 Center for Worker Justice $0 $15,000 $15,129 $40,000 $0 54 -100% ($15,129) Rape Victim Advocacy Program - Merged with DVIP $26,709 $28,000 $28,240 NA $0 NA NA NA Total $678,725 $699,200 $705,204 $1,099,034 $740,444 - Estimated FY26 A2A Budget $770,444 Estimated FY26 Emerging A2A Budget $30,000 Estimated FY26 Legacy A2A Budget $740,444 Legacy.. . Revised staff recommendation FY23 FY24 FY25 Agency Allocation Allocation Allocation FY26 Request RecommendationRequest Staff % Change Staff Staff from FY25 Recommendation Score to FY26 $ Change from FY25 to FY26 Commissioner t Commissioner Score 2 Score Inside Out Reentry $42,734 $31,000 $31,266 $35,000 $35,000 94 12% $3,734 75 88 Neighborhood Centers of Johnson County $58,759 $70,000 $70,601 $150,000 $74,601 94 6% $4,000 85 98 Shelter House $90,810 $99,790 $100,647 $109,770 $102,747 94 2% $2,100 84 99 Free Medical Clinic $26,709 $40,000 $40,344 $100,000 $44,535 93 10 % $4,191 77 93 Table to Table $33,119 $40,000 $40,344 $50,000 $50,000 93 24% $9,656 1 75 92 Domestic Violence Intervention Program (now includes RVAP) $53,418 $60,000 $60,515 $97,630 $62,693 92 4% $2,178 75 95 United Action for Youth $35,256 $34,500 $34,796 $40,000 $36,900 92 6% $2,104 82 83 Arc of Southeast Iowa $21,367 $22,400 $22,592 $25,000 $25,000 91 11 % $2,408 84 88 HACAP $19,230 $27,270 $27,504 $28,634 $28,600 90 4% $1,096 71 91 Free Lunch Program $47,007 $15,000 $15,129 $25,000 $25,000 87 65% $9,871 80 83 Community Crisis Center and Food Bank $74,037 $69,086 $69,679 $77,000 $71,368 86 2% $1,689 73 85 Aging Services (formerly Pathways) $26,709 $15,000 $15,129 $27,000 $26,000 83 72% $10,871 87 79 Horizons $26,709 $38,000 $38,326 $38,000 $38,000 81 -1 % $326 81 90 Big Brothers Big Sisters $26,709 $27,125 $27,358 $28,000 $28,000 79 2% $642 70 85 Iowa Valley Habitat for Humanity $26,709 $27,029 $27,261 $40,000 $32,000 77 17% $4,739 67 81 Houses into Homes $0 $15,000 $15,129 $30,000 $20,000 76 32 % $4,871 67 76 Community and Family Resources $42,734 $0 $0 $20,000 $20,000 67 NA $20,000 67 75 4Cs Community Coordinated Child Care $26,709 $28,000 $28,240 $78,000 $20,000 63 -29% $8,240 63 65 Dream City $0 $25,000 $25,215 $60,000 $0 55 -100 % ($25,215) 66 60 Center for Worker Justice $0 $15,000 $15,129 $40,000 $0 54 -100% $15,129 61 53 Rape Victim Advocacy Program - Merged with DVIP $26,709 $28,000 $28,240 NA $0 NA NA NA NA NA Total $678,725 $699,200 $705,204 $1,099,034 $740,444 Estimated FY26 A2A Bud et $770,444 Direct $392,844 1 53 % Estimated FY26 Emerging A2A Budget $30,000 Competitive $347,600 1 470/, Estimated FY26 Legacy A2A Budget 1 $740,444 ITotal 1 $740,444 11 H24 Funding Summery of services Legery Ag-ty Awerd provided whh funding Metrics S,I-d1 by Agenry H24 IS.& W24AcmmplishdnwU FY26Goels 691 indwidualss-rv-dwith M,J60nightsofsh,l- Emer Sheter, Winter genry Uof It individuals served; 1,120 IF individuals 1,120 IC individuals fi3fi individuals with disabilities served with 73,7J1 service Shelter House $99,790 Shelter,CaseManagement Rapid Rehoein& Permanent pof individuals receiving quality case management 500 individuals 1,876 individuals 112 individualsserved with 3,552 utility or housing service pof individuals receiving service for stable housing 80a individuals 1,437 individuals OF individualsserved with 57,520 meals Supportive Housin&Dmp in pof.igh. ofshd- provided 20,OOD nights 32,812 nights 533 individualsserved with 14,566 transportation services ices. 561 individuals served with 3,894 financial literacy services Early Education, Before and Uof IC individualsserved 2,460 IC individuals 2,117 IC individuals After School Programs, Youth Uof children involved in early l-arning programs 96 children 108 children 1. individualsserved with 96 early childcareslots created or maintained 3M individuals served with 1,239-nrichi fschool sessions ng, Neighborhood Centers of Johnson Courrty $]0,000 Development Programs, Family Uof students receiving enriching out of school programming 5DO rtudents 529 rtudents 95i tinanciallit-rarysessions Support, Neighborhood En gagement Uof individuals receiving quality case management Uof individuals receivin formation onah-alth lifes le gin y ry 120 individuals J16 individuals 163 individuals 2,0J9 individuals fi53 individuals with immigrant or refugee status served with 4,643 service mdmiu-kwite immigr Crisis Helpline, Mobile Crisis U of IC individuals served 11,2281C individuals 16,J921C individuals 20,500 individuals served with 1,708,333 meals 1,400 individuals served with 1,JJ0 mental health supports-Mc-s CommUni Crisis Center and Food Bank ty $69,086 Res pons-, Food Bank, Financial Uof individuals receiving nutritional support services 69,609 individuals 367 individuals 650 individuals served with 650 substance use/abuse supportservices Support Program U of indduals receiving services for stable housing J,054 mdfiwid.alk 7,054 individuals 470 children receiving 2,950 mental health services Uof individuals receiving mental health services 1,379 individuals 84,25D individuals 850 individuals served with 2,300 housings-rvic-s 24 Hour Hotline, Em-rg- ty poflCindividualsserved 1,002 IC individuals 1,091 IC individuals DVIP $60,000 Shelter, Case Management, Uof nights of shelter 12,000 nights 16,96J nights 500 individuals served with 1,800svual assaultservices and iwividuals Direct Aid, Advocary pofmdwidualsr-c-ivingdometicandfamilyviol-nc-service 1,300 individuals 1919 individuals served with 8,000 dometic and famil lent -service 1 yvio 1,350 individuals receiving 15,000 healthcare services Free Medical tliniz $40,000 Medical Care, Deircal Care, Case poflCindividualsserved Uof adults receiving healthcare services 8M IC individuals 1426 adults 698 IC individuals 1,305 aduts 125 adults receiving 125 oral health care service Management U of children receiving healthcare service 124 children JS children 100 children receiving 100 healthcare services 300 children receiving 300 oral health care services UoflCindividualss-rv-d 1,700 IC individuals 2,131 IC individuals Runaway and Homeless Youth, pof students receiving enriching out of school programming 150 rtudents 630 rtudents 2. children receiving 1,00D mental health services United Anion for Youth $34,500 Crisis, Ad -—and Mediation pof students reporting positive relationships 400 rtudents 4fi0 rtudents SOD students receiving 25D enriching out of school services Program and SP-Program Uof individuals receiving service for stable housing 50 individuals 46indiAduals 50 individuals receiving shelter U of individuals receiving mental health services 300 individuals 542 individuals of organizations receiving rescued food 45 organizations 46 organizations Table to Table $'b 000 Delivering rescued food to p of pounds of rescued food 1,900,000 pounds 2,755,979 pounds 2,083,333 meals provided varp mus organizations. pof rescued ds of duce, meat and dai poun pro ry 1,2M,000 ds paun paun 1,6711D. ds 28,000 individuals served Home meal d-Iiv-ryto older Uof IC individuals served 177 IC individuals 222 IC individuals Horizons $38,000 adults Uof seniors receiving service ro live safely at home 300 seniors 303 seniors 401 seniors receivinglservices to live safely at home Comprehensive reentry services ncluding resource center, poflCindividualsserved 1M IC Individuals 141 IC individuals 175 adults receiving 700 mental health support services Inside Out Reerrtry $31,000 coffee and connections Uof individuals receiving quality ca se management 13D individuals 157 individuals JS adults receiving 581 s.b,ta-e abuse support services -Hogs, financial literary, Uof individuals receiving services for stable housing SD individuals 103 individuals JS individuals receiving 2,033 utility or other housing services housing Lability services Childcare Workforce Uof IC individuals served 3791C individuals 3061C individuals 4CS Community Coordinated Child Care $28,000 Development, Home -based Provider Consultation, Food p ofpmfessional training opportunitie 28 opportunitie 466 oppratunities 24 early childcare slots created or maintained l adult receiving 1worV.-skill training service Pro gram, HomeTies, Crisis Childcare U of adults receiving workforce still training Uofindimduals receiving information on a healthy lifestyle 400 adults fiJ individuals 144 adults 1,608 individuals 4individuals with immigrant or refugee status receiving 10 support service Uof I individuals served Did not have a goal 1MIC individuals Rape ViRim Advo[ary Program $28.000 -ual Assaultiurvivor services pof students supporting positive relationships 1,200 rtudents 43 students N/A- Services now provided by DMP and Sercual Assault Prevention U of individuals receiving s ual assaults-rvic-s JSD individuals 448 individuals Funded rtaff salaries at lC H-ad poflCindividualsserved 3R.IC individuals 3,450 IC individuals HACAP $27,270 Start and wraparound funding Uof children involved in early learning programs 200 children 207 children 2. children in 214 childcare slurs created or maintained for slurs Uof volunteer hours inveted in programming JO hours 44 hours poflCindividualsserved 123 IC individuals 125 IC individuals Big Brothers Big Sisters $27,125 Youth m-wring Uof studenlreceivingment.rings-rvic-s 275 students 240 students 297 rtudents served with 3,276 enriching out .fschool services U ofv.,unteer hours invested in programming 10,000 hours 10,044 hours U oflC individuals served 152 IC individuals 54 IC individuals Affordable Home Ownership, Uof individuals involved in financial literary education 25 individuals Jindividuals Iowa Vail ry Habitat for Humanity $27,029 Home Repairs, Financial Liderary Uof individuals receiving credit repair services 25 individuals 5individuals 105 individuals receivin ble housi giU ng services Pro gramming gservices g Uof individuals receivin for stable housin 35 individuals 11individuals 35 affoNable housing units created or maintained p of seniors receiving services to live safely at home JO seniors 14seniors g of l C individuals served 1601C individuals 163 IC individuals gof students receiving enriching out of school programming 60 students 19 students Dream Ciry $25,000 Economic and Communiry gof students receiving mentoring services 40 studenss 8J students 40 individuals receiving 144 enriching out of school services Development initiatives pof students reporting positive relationships 60 studenss 8J students g of teens receiving substa nce abuse prevention service 40teens 81 teens Supports and programming for individuals with intellectual, 60 children m 52 early childcare slots created or maintained developmental and oMer g of I individuals served 2001C individuals 3MIC individuals 230 persons with disabilities receiving 1rirg service Art of South —Iowa $22,400 related disabili—amr—mg g of children involved in early learning programs JO children 63 children 60 workforceill inclusive da ycare, after school gof students receiving enriching out of uhool programming 90 studenss 93 students taininingservices 2Youth receivinglworkforce skill training service 2y..thtsreceivg15 programming. camps, day gof adults receiving workforce stilltraining J5 adults 65 adults 300 students receiving 65 enriching out of school programs habilitation ESL, sewing and computer gof IC individuals served J30 IC individuals 1MIC individuals for literary classes, staff trainin& gof individuals receiving services for stable housing 80 individuals 30 individuals Center Worker Justice $15,000 affordable housin dvoca ga ry gof volunteer hours invested in programming 160 hours 13 hours 300 individuals with immigrant or refugee status receiving 25 supportservice and wage theft program gof individuals involved in financial literary education 75 individuals 13 individuals Free mid -day mealsfi days per gof meals Did not have a goal. MO 40,224meals Free Wnch Pmgmm $15,000 week gof fruit/vegetable opti— provided in meal program fruits and vegetables 3% fruits and vegetables 45,000 meals Providing gently used furniture and household items to into individuals—ing gof lC individuals gof hours inveted in 6MIC individuals J3J IC individuals 1,000 individuals 325 housing Houses Homes $15,000 homelessness, domestic served volunteer programming 5,WO hours 7,575 hours receiving utility or other services violence and other, crisis Award Provided wkh fun Item Number: IP8. CITY OF IOWA CITY COUNCIL ACTION REPORT January 30, 2025 Airport Commission: January 9 Attachments: Airport Commission: January 9 MINUTES IOWA CITY AIRPORT COMMISSION January 9, 2025 — 6:00 P.M. AIRPORT TERMINAL BUILDING Members Present: Warren Bishop, Ryan Story, Chris Lawrence, Members Absent: Judy Pfohl, Hellecktra Orozco, Staff Present: Michael Tharp, Jennifer Schwickerath Others Present: RECOMMENDATIONS TO COUNCIL: None DETERMINE QUORUM A quorum was determined at 6:03 pm and Lawrence called the meeting to order. APPROVAL OF MINUTES DRAFT Tharp stated that Pfohl had submitted corrections for the draft minutes. Bishop moved to approve the minutes, seconded by Story. Motion carried 3-0 (Pfohl, Orozco absent) PUBLIC COMMENT - None ITEMS FOR DISCUSSION / ACTION a. Airport Construction Projects: i. FAA grant projects 1. Runway 12/30 Displaced Threshold/Relocation — Tharp stated he was catching up with being on vacation but that they're still waiting for the FAA for the flight checks. Tharp stated they are still having issues with the REILs and that they're working with the contractor to get it resolved. Tharp stated that when they do get contact with the FAA they would move forward with having the flight check done to turn the PAPIs on. 2. Solar Power Project — Tharp stated they are generating power and that they are working with the contractor and city IT to sort out the monitoring system. Tharp stated that the data collection was occurring it just wasn't able to be seen. Bishop asked about the snow on the panels. Tharp noted that so far he hadn't noticed a large amount of coverage of the panels but would continue to monitor. ii. Iowa DOT grant projects — Tharp noted the applications will be in the spring. Airport Commission January 9, 2025 Page 2 of 4 b. Airport "Operations" i. Budget — Tharp stated that the budget meeting with City Council were coming up with the operating budget on Monday, and the 22nd was the CIP budget. ii. Management — 1. T-hangar lease language — Tharp stated that he put into the packet the current lease they use and then the revised hangar lease with the changes accepted. Tharp noted that he changed the use of the hangar space section. Tharp stated that he did have a question regarding definitions of active construction and/or repair and if the Commission wanted to try to put into the lease a definition. Tharp stated he was not recommending going to this extreme as it would be big task to monitor. Lawrence stated he felt the changes helped address some of the concerns with inactive aircraft in hangars. Tharp stated the plan going forward was to finalize the draft and send it out to tenants along with an invitation to the February or March meetings for any final comments. If anyone has any final comment the Commission would expect to adopt the language as their agreement and would take effect for leases going forward. Lawrence agreed to move forward with the lease language (Bishop and Story abstained) 2. Iowa Army National Guard a. Consider a resolution setting a public hearing on February 13, 2025 for a ground lease. Tharp stated that he had been in discussions with the Iowa National Guard about their efforts to take over the former Army Reserve building. Tharp noted that this ground lease would expand their perimeter. Bishop asked about the impact for hangar construction and Tharp stated that it would limit most things to existing dimensions in the area. Tharp stated that due to the length of the lease a public hearing is required. Tharp stated that lease would initially be 2 years and with 5-year options. Bishop moved resolution A25-01, seconded by Story. Motion carried 3-0 (Pfohl, Orozco absent) 3. Events — Tharp stated that he hadn't populated events because the movie nights hadn't been announced yet and he was still waiting to coordinate the Young Eagles day. Tharp noted that Wolford was working with the EAA to have the Ford Tri-motor and another aircraft at the airport for a couple of days. c. FBO / Flight Training Reports i. Jet Air — Tharp stated that Wolford was at a conference and he didn't have anything extra from Matt. Tharp stated that the guys were keeping the grounds kept up with the recent snows. d. Commission Members' Reports — none e. Staff Report— Tharp stated the Iowa Public Airports Association was hosting their legislative reception on February 261h and would have a board of directors meeting the same day so he would be out of the office. Airport Commission January 9, 2025 Page 3 of 4 SET NEXT REGULAR MEETING — Lawrence noted he would not be at the next scheduled meeting. Members set the next meeting for February 13th, 2024, 6:00pm ADJOURN Bishop moved to adjourn, seconded by Lawrence. Motion carried 3-0. Meeting adjourned at 6:26 pm. CHAIRPERSON DATE Airport Commission ATTENDANCE RECORD 2024-2025 TERMCp N ��, . Q .i co A j NAME EXP. i;3 ia Warren 06/30/26 Bishop X I X I O/E Christopher Lawrence 106/30/25 1 O/E X X Hellecktra 06/30/28 Orozco X X O/E Judy Pfohl 06/30/26 X X X Ryan Story 06/30/27 l X X X Key. Airport Commission January 9, 2025 Page 4 of 4 O O O O O C 0 -h 0 i -A to W A A A A A 4 O/E X X X X X X X X X X O/E O/E O/E X X O/E X X X X O/E X X O/E X O/E X X O/E O/E X X X X X X X X O/E X X X O/E X X X X X X X = Present X/E = Present for Part of Meeting O = Absent O/E = Absent/Excused NM = Not a member at this time X/S = Present for subcommittee meeting O/S = Absent, not a member of the subcommittee Item Number: IP9. CITY OF IOWA CITY COUNCIL ACTION REPORT January 30, 2025 Senior Center Commission: January 16 Attachments: Senior Center Commission: January 16 Preliminary Minutes January 16, 2025 MINUTES SENIOR CENTER COMMISSION January 16, 2025 Room 311, Iowa City Senior Center Members Present: Nancy Ostrognai, Betty Rosse, Jay Gilchrist, Mary McCall, Kate Milster Members Absent: Lee McKnight, Warren Paris Staff Present: LaTasha DeLoach, Kristin Kromray Others Present: None CALL TO ORDER: The meeting was called to order by Gilchrist at 4.00 PM. RECOMMENDATIONS TO COUNCIL: None. APPROVAL OF MINUTES FROM THE DECEMBRER 19, 2024 MEETING: Motion: To accept the minutes from the December 19, 2024 meeting. Motion carried on a 5/0 vote. McCall/Ostrognai PUBLIC DISCUSSION: 1► •17T� OPERATIONAL OVERVIEW: Edrington reported on two services the Senior Center provides, SHIP counseling and the AARP Tax Aide Program. She gave statistics to emphasize the impact that these services have on community members. In the 2024 tax season, 375 tax returns were filed. The majority were for people over the age of 65 with incomes lower than $39,000. In 2024 the SHIP program had 1813 client contacts. The majority of those were during open enrollment when 1094 clients were seen. The Senior Center has 13 SHIP counselors at 3 locations as well as remote appointments. The documented cost savings via medical insurance enrollments was $578,689. Edrington noted that the Senior Center switched how it is sending out email newsletters about a year ago and has increase email subscribers to 5645. Preliminary Minutes January 16, 2025 currently. Enrollment in January and February classes is going well with many programs filling up. TRAIL has relocated to room G03. The Visiting Nurses Association had been housed in that space until about a year ago when they lost grant funding for community clinics. Table to Table food deliveries are still occurring on Monday mornings. Between 40-60 people come weekly for free groceries. Table 2 Table is also going to donate a freezer to the Senior center for overflow groceries. Edrington has been doing some offsite programming in North Liberty including Walk with Ease and Qi Gong. Ostrognai expressed her thanks for having pictures of Senior Center members in the latest program guide. DeLoach reminded commissioners that they Black History Ball will be on February 8t". This year's theme is The Elegance of the Harlem Renaissance and will feature Caleb "The Negro Artist" Rainey, poetry, a fashion show, jazz music and traditional African American food. There are also some tickets available for low-income seniors. The Original Mature Groovers are planning another Soul Train Dance Party in May and a field trip to the Figge Museum in Davenport. The 3rd floor of City Hall is being renovated and some of the Enginering Department will be relocated to the Senior Center for the duration of that project. HVAC issues continue to be a challenge while still hoping for upcoming solutions. Rosse noted that she was told it has been cold in some classrooms. The window and door project is still planned for this year, as well as interior design. A new awning has been installed at the Washington St entrance. The Senior Center is partnering with a University of Iowa climate change initiative where they are hoping to get 5000 climate change promises. The bulletin board on the ground floor has details. COMMISSION DISCUSSION: Commissioners discussed the slate of executive officers. Gilchrist would be willing to serve as chair, Ostrognai as Secretary, and Paris had stated last month he would be willing to be Vice Chair. Motion: To appoint the following slate of executive officers. Chair: Jay Gilchrist Vice Chair: Warren Paris Secretary: Nancy Ostrognai Motion carried on a 5/0 vote. Milster/McCall McCall runs the caregiver support group at the Senior Cener. She is exploring options for having caregivers bring their person with them and for respite care to happen onsite during their meetings. She is looking into options including a 2 Preliminary Minutes January 16, 2025 partnership with nursing students. Milster noted the silver cord program that gives provides volunteer opportunities to high school students. Future agenda items include inviting the new director of TRAIL and additional reports from staff members. Meeting Adjourned. Preliminary Minutes January 16, 2025 Senior Center Commission Attendance Record Term 2/15/24 3/21/24 4/18/24 5/16/24 6/20/24 7/18/24 8/15/24 9/19/24 10/17/22 11/21/ 12/19/ 1/16/25 Name Expires 4 24 24 Betty 12/31/26 -- X X X NM NM O/E X X X O/E X Rosse Jay 12/31/25 X X X X NM NM X X O/E X X X Gilchrist Mary 12/31/27 X McCall Angela 12/31/24 X X X O/E NM NM X X X O/E X McConville Lee 12/31/27 X X O/E X NM NM X X X O/E O/E O/E McKnight Kathryn 12/31/27 X Milster Nancy 12/31/26 X X X X NM NM X X X X X X Ostrognai Ross 12/31/24 -- O X O O O Taylor Warren 12/31/25 O X X X NM NM O X O X X O/E Paris Key: X =Present O =Absent O/E=Absent/Excused NM =No meeting -- = Not a member