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HomeMy WebLinkAbout2025-04-10 Info PacketCity Council Information Packet CITY OF IOWA CITY Council Tentative Meeting Schedule IP1. Council Tentative Meeting Schedule April 15 Work Session IP2. April 15 Work Session Agenda April 10, 2025 IP3. Letter from HeartSafe Community Campaign IP4. Memo from City Manager: 21 S. Linn Street Redevelopment Update IP5. Pending City Council Work Session Topics Miscellaneous IP6. Memo from City Clerk - Joint Entities Meeting Agenda Items for April 21 IP7. Civil Service Entrance Examination - Senior Building Inspector IP8. Civil Service Entrance Examination - Building Inspector II Draft Minutes IP9. Airport Commission: March 13 IP10. Community Police Review Board: March 11 April 10, 2025 City of Iowa City Item Number: IP1. CITY OF IOWA CITY COUNCIL ACTION REPORT April 10, 2025 Council Tentative Meeting Schedule Attachments: Council Tentative Meeting Schedule j= _ City Council Tentative Meeting Schedule �iVA. Subject to change +vr�_ CITY OF IOWA CITY April 9, 2025 Date Time Meeting Location 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. CITY OF IOWA CITY COUNCIL ACTION REPORT April 10, 2025 April 15 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 Agenda Work Session April 15, 2025 - 4:00 PM Emma J. Harvat Hall 410 E. Washington Street www.icgov.org -�....R4 CITY OF IOWA CITY 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: • hitps://citychanne[4.com/live • hftps://www.youtube.com/user/citychannel4/live • https://facebook.com/CityoflowaCity 1. Clarification of Agenda Items 2. Information Packet Discussion [April 3, April 10] Council direction is needed on the following items: 1. [IP6] Memo from City Clerk: Joint Entities Agenda Items for April 21 3. University of Iowa Student Government (USG) Updates 4. HeartSafe Community Campaign Update 5. 21 S. Linn Discussion 6. Council updates on assigned boards, commissions, and committees Item Number: IP3. a CITY OF IOWA CITY "QR T-4 COUNCIL ACTION REPORT April 10, 2025 Letter from HeartSafe Community Campaign Attachments: Letter from HeartSafe Community Campaign Johnson County Board of Supervisors Jon Green, Chair Address: 913 S. Dubuque Street, Iowa City, IA 52240 V Fixmer-Oraiz, Vice Chair Phone: 319-356-6000 Lisa Green -Douglass Email: sups@johnsoncountyiowa.gov Mandi Remington Website: www.johnsoncountyiowa.gov Rod Sullivan 1/2025 Greetings from the Board of Supervisors & Rotary -Kerber HeartSafe Community Campaign, We need your help to save Johnson County lives! Every year, over 436,000 lives are lost to sudden cardiac arrest. However, communities with bystander CPR (cardiopulmonary resuscitation) and AED (automated external defibrillator) programs are making a difference. The Rotary-Keber HeartSafe Community Campaign began in 2019 with a $10,000 Rotary grant and the goal to make Johnson County one of the safest places to suffer sudden cardiac arrest. Check out some of our achievements below. • 50 AEDs (Automated external defibrillator) provided to local non -profits and businesses through our cost -sharing program ■ 40 outdoor 24/7, yellow AED enclosures installed throughout Johnson County • Donation of $10,000 to bring PulsePoint to Johnson County ■ Collaboration on achieving HeartSAFE community status in Johnson County What is PulsePoint? PulsePoint is an electronic messaging system that alerts app users of nearby CPR (cardiopulmonary resuscitation) needs in a public setting. Download the app today and be sure to allow the app to access your location. PulsePoint also maintains an AED registry with 464 AEDs currently listed & more being added every week. What is a HeartSAFE Community? Johnson County has been designated the 4th HeartSAFE Community in the US, due to our widespread CPR instruction, public access defibrillators, and PulsePoint notifications among other lifesaving initiatives. What can you do? Please follow this link AED Survey to complete the short survey. It is our hope that the results of this survey will strengthen our AED registry, help us launch more AEDs into the community and increase awareness on the importance of recognizing cardiac arrest and CPR education. How else can I help? Help save a life by learning CPR and downloading PulsePoint! Consider hosting a CPR class for others in your organization to learn this lifesaving skill. Together, we CAN save lives! J- r� (%LO/lZll f O',e iJ7 7?! ,_GE'f"/-"o %Zf Jon Green t �~� Fiona Johnson James Merchant Board of Supervisor Chair Director, JCAS RKHCC Chair 0 . 0 Download the PulsePoint app here MPAIGIN Item Number: IP4. a CITY OF IOWA CITY "QF T-4 COUNCIL ACTION REPORT April 10, 2025 Memo from City Manager: 21 S. Linn Street Redevelopment Update Attachments: Memo from City Manager: 21 S. Linn Street Redevelopment Update Grand Rail Development Proposal Grand Rail Development Additional Correspondence Iceberg Development Group & Salid Partners Merged Proposal January 30, 2025 Memo from City Manager & Economic Development Coordinator CITY OF IOWA CITY MEMORANDUM Date: April 10, 2025 To: Mayor and City Council From: Geoff Fruin, City Manager Re: 21 S. Linn Street Redevelopment Update Background On January 30, 2025 the City Council received a memo providing background on the 21 S. Linn Street project, summarizing the three proposals received from the Request For Proposals (RFP) solicitation that was issued in September of 2024, and providing a staff recommendation on next steps. A copy of that memo is attached for your reference and is also available along with other project related resources at www.icgov.org/21 slinn. At the February 4, 2025 work session, the City Council requested that all three proposing teams present their project vision publicly. That opportunity was provided at the March 11, 2025 City Council work session. On the day of the presentations, staff formally received notice that two of the three proposing teams had merged (Salida and Iceberg). That merged team presented along with the other remaining team (Grand Rail). After the presentations, the City Council requested that staff update our analysis based on the emerging details of the merged team. A formal updated written proposal from the merged team was received on March 19, 2025. Since that time, staff has been reviewing and seeking clarifications to deepen our understanding of the project details. A copy of the written submission from the merged team is available on the project website and is attached to this memo. This memo aims to focus the City Council on the unique aspects of the two remaining proposals. The Grand Rail proposal is summarized below and is largely unchanged from the initial January 30, 2025 staff memo, although a few clarifications have been made based on the March 11, 2025 public presentation. The Grand Rail team has also submitted additional correspondence that is included as an attachment to this memo along with their original written proposal. The Iceberg Development and Salida Partners merged proposal summary in this memo is based on their written submission, along with clarifications that staff sought post -receipt of the updated submittal. 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. During the March 11, 2025 presentation the team indicated the ability to grow the project to 8-stories should additional commercial and/or residential space be desired. The building features a flexible first floor layout initially proposed for a 6,300 square foot entertainment use. However, the development team also indicates a willingness to divide the first floor to accommodate April 10, 2025 Page 2 additional or alternative uses such as restaurant or retail. In their public presentation they showed multiple combinations of uses to help achieve 18-hour street level activity including an event venue cafe with the Englert Theatre, micro -retail bays, and accommodations for the Stories Project. 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 on the 6-story configuration 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. The team expresses flexibility to both expand the building to 8-stories or otherwise shift the balance of commercial office and residential uses to meet the interests of the City or market conditions. A key differentiator of the Grand Rail proposal is the mid -rise design which aims to maximize flexibility across the street level commercial and upper floor office 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 tenants in need of financial assistance are a priority, such as the Englert Theatre or Stories Project, it is 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. These are based on the 6-story proposal and would increase should the project be expanded to include 8-stories of uses. Staff views this project as financially viable and one that meets the stated goals of the RFP. As previously noted, 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, Salida Partners, Shive-Hattery & Slingshot The merged team is led by Iceberg Development and includes all the project partners from the previous Iceberg and Salida teams, with the exception that Hodge Construction, IMEG and McClure have been removed as listed project partners. The City has received a formal withdrawal letter from Salida Partners related to their initial submission. The updated Iceberg Development response proposes a 12-story building that is anchored by a 2-story 15,000 square foot Englert Theatre venue space / eating establishment on the ground level and level 2, and a 2-story immersive projection room for the Stories Project that spans approximately 15,000 square April 10, 2025 Page 3 feet over levels 2 and 3. The ground floor also includes four 500 square foot micro -retail bays on Linn Street. The 4t" floor of commercial space includes 10,805 square feet of office space. As with the Grand Rail proposal, there is a letter of interest from ACT related to the office space. The team has also indicated a willingness to work with the City should office space for municipal operations be needed. A total of ninety-one residential units are included across the eight remaining stories of the building. Included among the ninety-one total units are: • Sixteen market -rate studio lofts aimed at the short-term rental market • Ten units of market rate 55+ senior housing • Twenty units for market rate rental • Forty-five permanently affordable housing units utilizing the 4% Low -Income Housing Tax Credit (LIHTC) program and accommodating a tenant income average of 60% area median income. Thirty-three affordable units are proposed to be aged restricted to 55+ while 12 will be without age restriction. (Note: The co -locating of age -restricted and non -age restricted housing is complex and will require HUD approval. Iceberg has experience with co -location in one other development but acknowledged achieving HUD approval may be difficult and time-consuming. As such, the City Council should consider the possibility that the project may need to pivot to an all or none age -restricted concept.) Key differentiators of the proposal are the strong anchoring of the non-profit cultural uses, the use of mass timber in the construction plans, and inclusion of forty-five affordable housing units. The design and layout of the first three floors is purpose-built to elevate the visibility of the Englert Theatre and Stories Project. 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. The inclusion of forty-five units of LIHTC affordable housing is also a key differentiator as the percentage mix of affordable units, 45 of 91, or 49.5%, would far exceed the fifteen percent requirement in our Tax Increment Financing (TIF) policy. As previously detailed in the January 30, 2025 memo, the reliance on LIHTC does introduce possible project delays as funding and award decisions are not local. The project financials in the updated Iceberg response include a $2 million purchase price for the land. The operating pro forma anticipates $9 million in TIF subsidy, which they estimate would take fifteen years to pay off utilizing 60% of the increment. Importantly, the $9 million TIF request does not include any subsidized rent considerations for tenants such as the Englert Theatre, Stories Project, or micro - retail tenants, nor does it include construction buildout costs for those showcased end users. The $9 million TIF request and fifteen -year rebate period assumes that there is no tax-exempt space in the building. Based on the information in the proposal, staff estimates a total project valuation of approximately $32.3 million with a split of $15 million in commercial (including LIHTC units) and $17.3 million in residential uses. This estimate is slightly lower than what the development team is projecting at $37 million in valuation, which also may place upward pressure on the TIF request. If one views this project as presented financially, with a $2 million land purchase and $9 million TIF gap financing request, then it appears to be viable. However, if you consider how the project is presented and anchored with 30,000 square feet of non-profit operations across three stories that are not subsidized by the development team, then staff believes the project viability as marketed quickly dissipates. April 10, 2025 Page 4 Incorporating tenant buildout costs and rent subsidies on top of the Iceberg team's financial gap of $9 million jeopardizes the viability of the presented vision. Beyond the buildout costs and rental subsidies needed by the Englert Theatre and Stories Project, there also remains a long-term consideration for what is likely to be in staffs opinion an ongoing operational support dependency beyond the life of the TIF. With that in mind, staff encourages the Council to view this project as financially presented. That is, as a project with market rate commercial rents. That leaves the door open to a number of possible commercial uses, including non-profit uses, but is also more transparent with the public about the reality that the Englert Theatre and/or Stories Project may not have the independent financial standing or fundraising capacity to be able to anchor market rate commercial space. Stories Project & The Englert Theatre The January 30, 2025 memo provided some additional detail about both the Englert Theatre's aim for expansion and the launch of the Stories Project as those organizations were noted in multiple initial proposals. As a reminder, the City's RFP did not require or specifically encourage the inclusion of a non- profit cultural use. Each of the two remaining proposals have expressed a willingness to include either or both the Englert Theatre and Stories Project. That said, neither proposal includes any level of subsidy for physical space buildout or ongoing rent subsidy. In previous conversations with both non-profit organizations, significant local government subsidy is expected to successfully facilitate their inclusion in this building. Because the RFP did not specifically require or encourage their inclusion, staff has not pursued further analysis to determine what buildout costs and rent subsidies may be needed. The Englert Theatre and Stories Project can make compelling cases for incorporation into this project. However, both will require significant upfront and ongoing subsidy that is not included in either proposal. While both organizations hope to eventually be operationally self-sustaining, staff anticipates an ongoing subsidy request is very likely to be needed to sustain non-profit operations. These factors do not preclude one of these uses from being included in a final land purchase agreement and/or development agreement down the road. Should this become an explicit desire of the City Council then it should be expected that the City's recoupment of the initial land purchase investment may decrease and that the proposed TIF of $9 million (Iceberg) or $0 (Grand Rail) will likely increase. April 10, 2025 Page 5 Quick Reference Comparison Table Staff encourages the City Council to comprehensively review each of the two individual proposals. The following summary table provides a quick reference comparison (original Iceberg and Salida proposals are in red strikethrough for reference): Development Team fseberg Salida Updated Iceber / Salida Grand Rail Height 1 2s 10 StOF 12 stories 6 to 8 stories* Construction Type (`nnnrRtR1Rt nn;;cc Timhor Mass Timber (Type IV) Steel Framing �Typell (Typei3 V3 Ground Floor Use(s) _nnn sf mirrn_ 6900 ,;f ;ems e Ater+7l n mea n+0 mtGhep, 150-9- Sf miGF9 Fetail 7500 sf Englert Theatre venue eating establishment and 2000 sf micro retail 3300 sf flex antertainment Dr ombination Df restaurant, retail and ther uses sfro';+,,,r,,,+ ro+�9F o...... inmon+ art alley Upper Story Commercial 5 #leers 4f1eers 3 floors 3 floors* Upper Story Residential 7fleers 5flee.rs 8 floors 2 floors* Market Rate Units 9 40 46 16* Affordable Units � re 45 * Total Valuation $24-m $374;4 $32.3m 21.5m* Taxable Valuation $LT 6m $24-� $21.5m 15.6m* Proposed Land Purchase $2-m $a-99 2m 3m Initial Estimated TIF Subsidy $7-Rq-$9-6m ��1 innromon+ fnr $42Fn 44 m f„" 9m (estimated 0% increment for 15 years) None (i.e. fH4 innromon+ fnr * The Grand Rail team has indicated an ability to increase from 6-stories to 8-stories to increase residential and/or commercial uses. The summary data only accounts for the 6-story concept. Proposal Discussion Iowa City is fortunate to have two strong teams that are eager to partner on a project that will strengthen our downtown and larger community and benefit generations of Iowa Citians to come. Staff is grateful for all the time, effort and expense that each team has committed to the selection process to -date. From a use standpoint, both proposals lean into entertainment space and retail on the ground level and include a mix of upper floor commercial and residential. The Iceberg proposal presents purpose-built space for the Englert Theatre and Stories Project, but their financial modeling does not include the resources to realistically accommodate their inclusion. Thus, staff urges the City Council to view the April 10, 2025 Page 6 proposals as expressing a similar vision for ground floor uses, which includes active and engaging space used throughout the day and evening. Both teams can meet the demand for micro -retail spaces and will ultimately seek tenants at market -rate rents. Should there be an opportunity to include the Englert Theatre and/or Stories Project as a result of private fundraising or government support, then either team appears willing and capable of meeting that objective. Regardless of which team is ultimately selected, staff would work in subsequent phases to ensure the active and engaging ground level goal articulated in the RFP and by the Iowa City Downtown District is met to the best of our ability. Both teams aim to provide 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 retail, restaurant and entertainment offerings nearby. The multi -story commercial uses are beneficial to the health of the entire downtown area and should continue to be prioritized with the eventual selected team. Both projects incorporate residential uses that meet the goal of providing 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, existing arts and culture programs, and venues. Affordability goals are also met with both proposals, albeit at different numbers of units and resulting cost to the City in terms of recouping our land investment and commitment of future property taxes through TIF rebates. Both 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 two buildings ranges from six to eight -stories (Grand Rail) to twelve -stories (Iceberg). The larger Iceberg building can accommodate more uses, including residential units, and offer stronger long-term economic performance as measured by taxable valuation to support municipal services over the full life of the building. However, the Iceberg project will be more difficult to finance and will require a high level of public subsidy that will reduce tax revenue received by local governments over at least the first 15 years post - construction. Both teams are responding well to our stated goals for this project. With either option, the City's investment in this property is projected to produce a stronger long-term outcome on this property then what we expected would occur by simply leaving it to the private market. Nevertheless, there are some key differences that the Council needs to clearly weigh. • The scale of the buildings varies with Grand Rail maxing out at a potential of 8-stories while Iceberg is presented at 12-stories. Both teams can make strong arguments for contextuality, but this is a key difference with a noted history of public interest for the City Council to weigh. • The use of mass timber as the primary construction type is a differentiator from more conventional construction methods. With that comes the exciting possibility to further establish Iowa City as a leader in innovative climate action commitments, but it can also carry more project risk and uncertainty. • The affordable housing approach differs as well with Iceberg proposing nearly 50% of the units to be affordable through the LIHTC program (45 total affordable housing units out of 91 total). The Grand Rail team aims to make 20% of the units permanently affordable, which could be between 4 to 8 units depending on the final building height and mix of upper floor uses. • Finally, the project financials are vastly different: April 10, 2025 Page 7 o The Grand Rail land purchase proposal of $3 million would result in $1 million more to the City upfront compared to the Iceberg proposal of $2 million. o The Iceberg team proposal outlines a need for $9 million in TIF rebates over an estimated fifteen years. The Grand Rail team is not requesting any TIF or other gap financing from the City. In summary, both proposals provide our community with an exciting vision for this infill parcel. Given very different financial proposals, the City Council needs to carefully weigh if the differences presented in the Iceberg proposal (building scale, construction type, number of affordable units, etc.) are worth the $1 million difference in the upfront payment for the land as well as an additional projected commitment of $9 million in future tax revenues over 15 years. For that significant of a difference in financial terms, the City Council should feel strongly about the value embedded in the distinguishing features of the Iceberg proposal. Next Steps The City Council should keep in the mind that the City invested $4.5 million 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. If the Council is ready to proceed with further evaluation of the two remaining proposals, then deliberations should commence with a goal of selecting a preferred development team and concept. If both concepts are of interest to the City Council, then an alternate should also be designated in case the negotiations with the selected preferred development team do not come together. The Council should carefully review and consider the differences that are contained in the two proposals and summarized in this memo. Staff is happy to work through clarifications that may be needed to make your decision, but we feel both teams have provided the level of detail that should be expected at this stage in the process. Staff recommends that Council target May 201" for your selection of the preferred development team and concept. If this timeline sounds reasonable, then we would suggest that on May 1st you ask both teams to confirm or modify their financial expectations in terms of land acquisition and any ongoing TIF gap financing. This would give each team an opportunity to modify their offer in a manner that maximizes the appeal and private equity commitment. This would be a beneficial step prior to commencing the next stage of development, which is drafting purchase and/or development agreements. Once a singular team is selected, staff may engage a third -party financial consultant to assist with determination of the land acquisition terms and any ongoing gap financing. This would likely only be done if an ongoing TIF commitment is 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 staff would like to again thank both 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 two talented and April 10, 2025 Page 8 experienced teams vying to work collaboratively with the City to construct a property that will anchor our downtown for many decades ahead. Attachments: Grand Rail Development, Urban Acres & OPN Architects original proposal and additional correspondence Iceberg Development, Salida Partners, Shive-Hattery and Slingshot updated proposal Copy of the January 30, 2025 staff memo 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. Scenario i Residential Condo Sales Commercial Condo Sales Unit Floor Bedrooms SgFt Price Per SgFt 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 5th Floor 1-Bed + Den 807 $450,000 $558 3 1-Stall $50,000 $500,000 5th Floor 1-Bed + Den 807 $450,000 $558 4 1-Stall $50,000 $500,000 5th Floor 1-Bed + Den 807 $450,000 $558 5 1-Stall $50,000 $500,000 5th Floor 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 6th Floor 1-Bed + Den 807 $475,000 $589 11 1-Stall $50,000 $525,000 6th Floor 1-Bed + Den 807 $475,000 $589 12 1-Stall $50,000 $525,000 6th Floor 1-Bed + Den 807 $475,000 $589 13 1-Stall $50,000 $525,000 6th Floor 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 1st Floor Entertainment 6,573 $3,943,800 $600 2nd Floor Office 10,262 $5,131,000 $500 3rd Floor Office 10,262 $5,131,000 $500 4th - A Office 3,844 $2,210,300 $575 4th - B Office 3,844 $2,210,300 $575 Total $18,626,400 (NET) 94% $17,508,816 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 *Includes Total Costs Interior NET Profit Build -Out* % of Hard Costs $25,072,645 $1,648,171 7% Scenario 2 Residential Condo Sales Commercial Leasing Unit Floor Bedrooms SgFt Price Per SgFt 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 5th Floor 1-Bed + Den 807 $450,000 $558 3 1-Stall $50,000 $500,000 5th Floor 1-Bed + Den 807 $450,000 $558 4 1-Stall $50,000 $500,000 5th Floor 1-Bed + Den 807 $450,000 $558 5 1-Stall $50,000 $500,000 5th Floor 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 6th Floor 1-Bed + Den 807 $475,000 $589 11 1-Stall $50,000 $525,000 6th Floor 1-Bed + Den 807 $475,000 $589 12 1-Stall $50,000 $525,000 6th Floor 1-Bed + Den 807 $475,000 $589 13 1-Stall $50,000 $525,000 6th Floor 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 1st Floor Entertainment 6,573 $230,055 $35 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 Monthly $91,623 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 Payment 20% $5,014,529 *Includes Total Loan Interior P&I Build -Out* Cash on Cash $10,846,116 $66,604 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 pip I 5 G City of Iowa ity 1 S. Linn Street Grand Fail Development + Urban Acre + OPN Architects * Axiom dk -E'III�,1 March 26, 2026 On behaLf of Venture One, LLC and our col-Leclive team at Grand Rail, Urban Acres. OPN Architects, and Axiom. thank you for the opportunity to reaffirm our 21 Linn South Street excitement for and commitment to the success of the development of 21 S- Linn Street in downtown Iowa City. City of Iowa City We are passionate about this project. We believe we aLzo offer the city the best return on your investment because our proposed team and plan is simple. local. 410 East Washington Street and reflects the city's and community's goals and vision for the corner at 21 S. Iowa City, Iowa 52240 Linn Street. With our team. you get; Jake Evans Financially Viable Owner & Chief Financial Officer • Current Market Conditions. There are currently a large number of vacant Grand Rail Development commercial. properties in Downtown Iowa City. Being able to actually jakee)grandraiL.com perform is key. (Attachment Al - Local Bank Financing: Using a Local bank that understancds our past Venture One, LLC performance and operations allows for a lower interest rate- 2810 Stoner Ct Ste-5 - o TIFF: In uncertain times, we are not asking the Oily for additional financial North Liberty, IA 52317 incentives meaning you can dedicate funds to other ongoing efforts and (319)62 -630o initiatives. • Tenants Buyers; WhiLe we have been approached by severaL prospective Tenants and Buyers our project is not solely reliable on those that have already been identified- We have a LocaLTeam for marketing and sales that wilt work to sell out the building. Cost Effective - Self -perform- Because we self -perform our work, our pro -forma is backed by our own understanding of what it will take to deliver this project. - Local Labor; Grand Rail works with .subcontractors that are Local to eastern Iowa. • CompLex Site; Axiom has already developed a ccrnpLeted set of City - approved construction documents for the site- Our plan takes into account existing uliLities / transformers, alley access for businesses, setback from the property line. and avoiding undermining foundations on the existing historic structures, - Speed to Market- We are not dependent on external funding sources or grant cycles that wouId deLay this project. - Realistic Casts; Our cost estimates per square fool are rooted in Local construction market data. Our lotaL projected costs are $2 .1 million which was submitted in our proforma. We mistakenLy said $40 million in our presentation, - Local materials: UnLike mass limber. which we considered but did not pursue because it Was 30more expensive and potenlialLy subject to tariffs. our materials are supplied. Locally which decreases issues with coordination and suppLy chalLeriges. Simple & Local • Streamlined Team; A sing Le development group and sing Le architecture firm will simpUfy coordination and reduce costs, keeping the investment focused on the community. Consistent; Our team has been the same from the start. Having a strong team on a cornpLex project where everyone knows their roles and responsibilities is key, Collaborative' We offer a transparent and collaborative process with no surprises for the city. - Economic Impact; Our team of developers, contractors, subcontractors / suppLiers, architects. engineers, property manager, and reaLtors are aLL LocaL to the Corridor. Return on Investment • Flexible; While our proposed project has not changed, we have already evacuated and Looked at severaL different options For the site. The City has already made the investment. the only question that remains is the total ROI for the City on their investment_ Invested in the outcome- We will collaborate to a rrive at the best solution for the community beta u se thi s is a Legacy project for us. Wwntown Housing- A mixed -income vertical corn mu n ity with access to parking and green space ensures a high quality of Life for all tenants, Afrordabce; Our intent to seLL our affordabLe units to the Housing FeLla wship ensures permanent affordability_ We are open, in coLLaboration with the City to Look at alternatives far afFordable housing in both downtown and throughout the City_ Design for lows City • Your Goa Ls ReaLiz.ed. The design reflects the Comprehensive Plan for Iowa City as well as rnany other city plans, research. and pubUc input. ContextuaL- Massing and building materials are designed to integrate into the existing historic a rchitectura L context. • SustainabLe; lowa City cares about designing buildings that do better. The design prioritizes sustainabiGty, with features that promote energy efficiency, occupant weLLness, and a reduced envi ronmenta L footprint. • TimeLess; Brick is a timeless. durable and sustainable material that is sourced in the midwest and not susceptible to market fluctuation abroad. Human -Centered; Hover the buiLding interacts with pedestrians at the street level matters_ • Flexible; Design that can be adapted over time is a haLLmark of a great downtown where pLacernaking is key. Like you. we are vested in the financial success cf this development. We also want this project to succeed because this is our community. We were barn here and have made our lives and liveLihoods here. We work here. raise our famiLies here. and serve our communities through various organizations such as the Iowa City Public Art Advisory Committee, Iowa City Downtown District, The Englert Theatre board, and United Way of Johnson & Washington Counties to name just a few. e are deeply committed to helping our community grow and prosper. Prof ess iona Lty, for Grand Rai and Urban Acres as Venture One, this has meant deveLoping mixed -use, affordabLe, and amenity -rich properties throughout the southern Corridor. For 0PN 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 Uke this one that not only have the potential to bring people together to dine. shop. Uve and work, but also wia literaLly fill a void in a vibrant downtown that that city has aLready invested so much in curating and caretaking. Because -re are Iowa Citians, we know that downtown Iowa City`s vibrancy doesn't happen by accident. It is the result of the collective investment of individuaL5 whv oven businesses, elected ofFciaLs, 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 cit's vision for a vibrant. community -focused building. We hope that you agree that our team's proven past partnerships; self-perForming development and construction; and past. present. and future connections and investments in the Iowa City area make us an ideal partner for the City of Iowa City in this important project Wce also believe that our passion and enthusiasm for this project will ensure that the City+ of Iowa City and overall community's goals for this project are realized_ Thank you again for the opportunity_ We, %)rouLd be honored to contribute to our hometown skyline, Jake Evans Owner & Chief FinanciaL Ofhcer GRAND RAIL i r4. rh4c 4I.... ■4 % i , GRY 131 / STIM Al URBAN AC R ES A R C H 17 E C T S s..�� •... =•••d Attachment k COMMERCIAL AGENT REPORT MLS #; 202100,043 Status; Active Chwerehip Type: Retail Address= 111 E Washington St Lov"T Level City, Zip; Iowa City 52240 Area; Iowa City DOM: 1178 `k �f List Price: so Original Price; $0 Lease Price: $15.00 L s= Arien.3. .ray, Old Younkers Building, LLC Virtual Tour. List Broker#: List Agentl. 3oe Clark cell: 319-631-1894 List Broken; Commercial Really Iowa City, LLC Off: 319-631-1894 List Agent2: List Broker2: LiStino Date= 1(312022 Explratlon pate; 1f312026 County: 3&wv mn Doe. 0 E-mall: g[t1974@rrren.com �T1 Lot Dim; O Tax ID: p DIY Ao-eage: coo Grss Tx {CntylOW; $27,0O OO Square Feet: 110r0f] Tax Year Report; 20 Type of Lease: NNN Year Built; two Zoning: C1120 Common Area Maint: $1.00 ( Ekunmuryr; Insurance ExplSgFt= 0.65 U Jr./Middle Scholl: High Scholl; Lease Term: Buyers: Closing Costs; Pending Date: Sales Term Selling Agent 1: Cbsing Date- Sold Price. Selling Office 1: eU5FNE55; Office Building, Retail Stare, Other CONSTRUCT CM: Block CI FEATURES: Display window LOCATION= Other DOCUMENTS; Floor Plan Avail FLOOR TYPE; Other COOLING; Other HEATING; Other LOT SIZE; Lem Than .5 Acre ROOF TYPE: Other ROAD FRONTAGE: Other SPECIAL FEATURES; Other UTILITIES AVAILA9LE; Cable TV, Electricity, Natural Gas, Sewer, Telephone, Water -City SQUARE FEET: 2,O00-5,000 SgFt POSSIBLE FINANCING. father PO55E55ION; 30-60 nays SALE INCLUDES; SNOWING INSTRLIL71ON5- Vacant Directions., Located In the tenter of downtown Iowa Clty nee r the tourer of Gilman Street and Washington Street, Lower level of thr building. Remarks Great location in the venter of the Pedestrian Mall and across the street From the Old Capitol building. This space is the lovrer level of the building formerly occupied by Golds Gym or 319 Fltne%, Commercial, Retall, Office, etc. could oeoupy the space. Walk by traffic at this location is very hlghr with over 30r000 Unlwersiry of cave students In this central lmta rl every day Of the Scholl year- Target is upstairs, and Flaods ]ewelem and Taco Depot are mA door. Square footage available is up to 11,000 including) storage & existing rnen's}wornan's kKker morns Adderrdurn: $15 NNNISq Ft if all IleOOO Sq Ft ar¢ rented A sknaller space may be "gotiated at a high-ar price per 5q Ft A build -out allowance can be negotiated with Landlord Listing agent is part owner of Old You nkers BuiIdingr LLC and is a li€ensed real estate Broker in Iowa. This InformaHm Is deer" rellaWEe but net guarariteed. COMMERCIAL AGENT REPORT MILS. #; 202404937 Status; Active Chwer5hip Type- Commercial Address= 4 5 Limn St City, Zip; Iowa City 52.240 Area; Iowa City l]OM: 211 a�rxam� � LL%tPrice. SO OriginalPrlce; $0 Lease Price: $2.4.00 List Agent3: • "` Owner: lender Virtual Tsar Lia Broker#: List Augentl: Jeff Ed6erg Cell: 319-331-6137 List 6roker1; Leplt-K"Wgar, REALTORS Off: 319-351-9811 LLrk Agent2: Carmen Krueger cell: 319-330-4927 ListBroker2: LepiL—Kroeger,REALTORS Listioo hate: $12712024 ExplraMn pate; 6f3}2n25 County: 3&wvson DDC 1 E-mail: jef @lcrealestate.rnm �T1 Lot Dim; Irregular Tax ID: L010440002 - 1010440007 �11 Acreage: 0100 Gr55 Tx (Cr tyj0ty): $7-68 Square Feet: 3907 Tax Year Report; 2422 Type of Lease: Rat Year Built; 2000 Zoning_ C11110 Common Area Maint: 50-00 Ekumm Bryn; Insurance ExplSgFt= 0.00 Jr./Middle Scholl: High Sthod; Lease Term: Buyers: Closing Costs; Pending Pate: Sales Terre_ Selling Agent 1: Closing Date- Sold Price. Selling Office 1: aU5FNE55; Educational, Medical Dental, Dfiriee Building, CONSTRUCT CM: brick, Frame CI FEATURES: Display window, SPrinkler 5ystemr other LOCATION= Corner Lotr Other DOCUMENTS; Floor Plan AvalI FLOOR TYPE; Ceramic Tile COOLING; Central AEC HEATENG; Heat Pump($) LOT SIZE; .5-1 Acre ROOF TYPE: Other ROAD FRONTAGE: CountylCity Road, Pavement SPECIAL FEATURES; Other UTILME5 AVAILA9LE; Cable TV, Electricity, Natural Gas, Sewer, Telephone, Water -City SQUARE FEET: 2,f N-5,000 5gFt POSSIBLE FINANCING., Cash P055E55ION; Negotiable SALE 1NCLUDE5; Other Intl SFIOWING INSMI-)CTIONS- Call Agent Only, Special Flours Directions. Corner of 5 Llnn St and E IOwh Aa r downtown Iowa Clly. Remarks This high -end retail}~oorrlmercial space i5 Fn an ideal Iboation... downtown Iowa Cityl Previous tenant was operating a5 a salon & spa but could be transformed to meet a new tenants needs. This 3,907 SF features a dramatic 2 story high celling In the front, with a rnemnlne overlooking the Space & aburdant natural light. Continuing through the Space are treatment rooms & open work areas. 3 designated parkirg spaces in the attached ramp are included in the lease. Additional paid parking is available in said ramp or on the streets surrounding the building. Located ors the street frOM the L nNinity of Iowa Botany. Physics & Brain Scienoes Eiuildino & within walking distance of Campus, sh WIng, dining, & entertainment. The monthly gross rent (base plus taxes) is $11D0317.74. Unit is also offered for sale in separate listing for $996,000; current ownet would Consider s owtract sale with agreed upon terms- Flppr Plans In Assoc DM. Addendum: Unit is also offered far sale in separate listing for currant awner would consid-air a contract sale with agreed upon terms. Current improvements could be removed allowing for a dramatic open layout, see photo for refereecc. This InformaHm Is &-ey" rellaWEG but rrotguwar-eat. COMMERCIAL AGENT REPORT MILS. #; 202405689 Status; Active Ownership Type: Commercial Address= 4 S Linn St City, Zip; Iowa City 52240 Area; Iowa City l]OM: 169 List Price. 5o Original Price; $0 Lease Price: $24.00 List Agent3: Owner: Tender Virtual Tsar I Lfst Broker#: List Agentl: Jeff EMK rg Cell: 319-331-6137 Liyt erokerl; Leplo-Kroeger, REALT0RS Off: 319-351-9811 List Agent2: Carmen Krueger cell: 31g-330-4927 ListBroker2: Lepic-Kreeper,REALTORS Listing late: 1A}812024 Explrauon pate; 6131202S County: 3&wvsGn Doe: 1 E-mail: jcftlt Ur@Aestat8A=h �T1 Lot Dim; Irregular Tax ID: 10104 GO02 • IDI04 GO07 �11 Acreage: coo Gr55 Tx (Cntyl dy}: $8.79 Square Feet: 1664 Tax Year Report; 2022 Type of Lease: Net Year Built; 2000 Zoning: C11130 4:10mmorr Area Maint: $0.00 Ekummtaryr; Insurance ExplSgFt, 0.00 Jr./Middle School: High S&W; Lease Term: Buyers: Closing Costs; Pending Pate: Sales Term Selling Agent 1: Closing Date- Said Price. Selling Office 1: eU5FNE55; Educational, Medical Dental, Office Building, CONSTRUCT CM: brick, Frame CI FEATURES: Display window, 5prinkl2r 5ystemr other LOCATION= Carver Lotr Other DOCUMENTS; Floor Plan AvalI FLOOR TYPE; Ceramic Tile CODLING; Central AEC HEATENG; Heat Pump($) LOT SIZE; .5-1 Acre ROOF TYPE: Other ROAD FRONTAGE: iCountylCity Road, Pavement SPECIAL FEATURES; Other UTILMES AVAILA9LE; Cable TV, Elertricityr Natural Gas, Sewer, Telephone, Water -City SQUARE FEET: 2AN-5,O00 5gFt POSSIBLE FINANCING., Cash P1055E5SION; Negotiable SALE INCLUDES; Other Intl SI•tOWING INSTRUCTIONS- Call Agent Only, Special Flours Directions. Corner of 5 Llnn St and E Iowh Aa r downtown Iowa CkV. Remarks This high -end retail}~oornmercial space i5 in an ideal location... downtown Iowa Cityl Previous tenant was operating a5 a salon & spa but ouu be transformed to meet a new tenants needs. The original fnatpri nt is 3,907 SF but can be demised Into a 1664 SF suite and 2.243 SF suite. This offering of 1664 5F features a Dramatic 2 Story high Ceiling in the FrO ltr with a mezzanine overlwking the spate 13c abundant natural light_ Continuing through the space is a large open work area, restroom and breakroom. Limited designated parking spaces in the attached ramp are iod+aded in the lease. Additional paid parking is available in said ramp or on the Streets surrounding the building. Located cans the street Tram the University of Iowa Botany, Physics & Brain Sciences Building & within walloing d4stan€e of campus, shopping, dining, & entertainment. The monthly gr= rent (base plus takes) IS $4,54$_00. Unit Is offered For Sale in Separate 115t'ing for $424,00D; airrent owner would OWSId2r a eontr Adderndurn: Unit is affered for sale In separate listing for $424,O00; current owner would consider a contract sale with agreed upon terms. Current improvements could be removed allowing for a dram atic o pen layout; see photo for reference. This InforrmUm Is deer" rellaWEe but not gkiaranteed. COMMERCIAL AGENT REPORT MILS. #; 202405690 Status; Active Owner5hip Type- Commercial Address= Z 5 Linn St City, Zip; Iowa City 52240 Arid; Iowa City l]OM: 169 List Price. 50 Original Price; $0 Lease Price: $2.4.00 List Agent3: Owner; lender Virtual Tour Lfst Broker#: List Agentl: Jeff EMK rg Cell: 319-331-6187 Liyt erokerl; Leplo-KKl"ff, REALTORS Off: 319-351-9811 List Agent2: Carmen Krueger cell: 31g-330-4927 ListBroker2: LepiL—Kreeper,REALTORS Listing VDtE?: Y0}812024 Explrauon pate; 6131202S County: 3&wvsan Doe: 1 E-mail: jcftft Ur@Aestat8A=h �T1 Lot Dim; Irregular Tax ID: 10104 GO02 • IDIG4 GO07 �11 Acreage: coo Gr55 Tx (Cry 10tY); $8.79 Square Feet: 2243 Tax Year Report; 2022 Type of Lease: Net Year Built; 2000 Zoning: C11130 Gammon Area Maint: $0.00 Ekummiaryr; Insurance ExplSgFt= 0.00 Jr./Middle Scholl: High S&W; Lease Term: Buyers: Closing Costs; Pending Pate: Sales Term Selling Agent 1: Closing Date- Said Price. Selling Office 1: eU5FNE55; Educational, Medical Dental, OrWice Building, C0145TRUCT CM: Brick, Frame CI FEATURES: Display window, SPrinfcier 5ystemr other LOCATION= Career Lotr Other DOCUMENTS; Floor Plan AvalI FLOOR TYPE; Ceramic Tile CODLING; Central AEC HEATENG; Heat Pump($) LOT SIZE; .5-1 Acre ROOF TYPE: Other ROAD FRONTAGE: iCountylCity Road, Pavement SPECIAL FEATURES; Other UTILME5 AVAILA9LE; Cable TV, Elertricityr Natural Gas, Sewer, Telephone, Water -City SQUARE FEET: 2AN-5,000 5gr-t POSSIBLE FINANCING., Cash P(755E5$IO1N; Negotiable SALE 1NCLUDE5; Other Intl SI-tOWING INSTRUCTIONS- Call Agent Only, Special Flours Directions. Corner of 5 Llnn St and E IOwa Aa r downtown Iowa Cny. Remarks This high -end retail}affi cornmercial space is in an ideal location... downtown Iowa Cityl Previous tenant was operating as a salon & spa but could be transformed to rneet a new tenants needs. The original fnatpri nt is 3,907 SF but can be demised Into a 1664 SF suite and 2.243 SF suite. This offering of 2243 5F features a drarnatic 2 story high ceiling with abundant natural light- Continuing through the spare i5 a large open work area or retail space, treatment rooms or offices and 2 restrowns. The ptissibil ites are limitless. Designated parloing spaces in the attached ramp are induded in the lease. Additional paid parking is available in said ramp or on the streets surrounding the building. Located Kmss the street from the University of Iowa Botany, Physics &Chain Sciences Building & within walloing d ista nce of campus, shopping, dining, & entertainment. The monthly gross rent (base plus taxes) Is $6,127.13. Rwr Pl$re in A= Dom For sale in Wparate offering fpr $S72,000- pwner would w5ldera Adderndurn: For sale in separate offering for $572,000. Owner would consider a contract safe with tones to be agreed upnrr. Current i rn provements could be removed allowing for a dramatic open layout; see photo for reference. This InformaHm Is deer" rellabre, but nDt guarar �ztl. COMMERCIAL AGENT REPORT MLS #; 202406680 Status; Active Owmer5hip Type: Commercial Address= 114 5 Clinton St City, Zip; Iowa City 52240 Axed; Io►va City I]OM: 107 List Price: $0 Orlglnal Price; $0 Lease Price: $30,00 List A,genL3., Owner: TSB Holdings, LLC Virtual Tsar List Broker3: List Agentl: Mark Lynch CELL: 319-331-0409 List urokeri. SkOgMan R*alty Co. W. 319-625-6427 List Agent2: Tracy Barkalow Cell: 319-631-3258 List Broker2: Barkallow & Associates, Realtors Listing late= 121912024 Explrat+on pate; 6f2l2025 County: 3&wvsGn Doe' 0 E-mall: marklynch@�skogman.com �T1 Lot Dim; O Tax ID: L010378017 �tY Ao-edge: 0,15 Gr55Tx(C*10tY); $7.00 Square Feet: 2820 Tax Year Report; 2023 Type of Lease: NNN Year Built; 1900 Zoning_ C1130 Common Area Maint: $2.65 ( Ekummtaryr; Insurance ExplSgFt, 0.35 U Jr./Middle Scholl: High S&W; Lease Term: Buyers: tlosirg 1_0ss: Pending Pate: Sales Term: 5elling,agWt 1: Closing Date- Sold Price. Selling Office 1: eU5FNE55; Food Services CONSTRUCT CM: Brirk, Other CI FEATURES_ Display window, Spri nkler System LOCATION= Shopping Center DOCUMENTS; Aerial Photo, Lease Avail FLOOR TYPE; Other COOLING; Central AfC HEATENG; Gas LOT S T: Less Than .5 Acre ROOF TYPE: Other ROAD FRONTAGE: CountyJCity (toad SPECIAL FEATURES; None UTILITIES AVAILA9LE; CablE TV, Electricityr Natural Gas, Sewer, Telephone, Water -City SQUARE FEET: 2,f}00-5,000 SCIR POSSIBLE FINANCING. filcher P055E55IO1N; lvec fable SALE 1NCLUDE5; Other Ind SFIOWING 1NS7RLIC7I0NS- Appt Office Directions., On Cllnton St dlmctly Atrms from the Old Chpltal Mall. Remarks Full Service Restaurant Space For RentE Hard to Find Head System In Place. Prime University of Iowa &, Downtown Iowa City Location! Owner is a Iowa Broker Adderrdurn: NNN i!p appmxlinrata�ly $10.00 psf. Contact Listing Agent far showings, This InformaHm Is deer" rellaWEe tut not guaranteed, COMMERCIAL AGENT REPORT '�.� t• +w.+W� MLS #; 2024066$1 Status: Active _ ONmerehiP YR�= T Commercial Address= 118 5 Clinton St Y, Zip; Iowa City 52240 Auld; Iowa City EOM: 107 List Price: $0 Orlglnal Price; $0 Lease Price: $30,00 List A,gent3., Owner: TSB Holdings, LLC Virtual Tsar Lirt Broker3: List Agentl: Mark Lynch CELL: 319-331-0409 List Broken; SkogMan R*alty Co. W. 319-625-6427 List Agent2: Tracy Barkalow Cell: 319-631-3258 List Broker2: Barkallow & Associates, Realtors Listing Gate= 121912024 Explrat+on pate; 8f212.015 County: 3&wvsGn Doe- 0 E-mall: rrrarklynch@�skogman,com �T1 Lot Dim; 0 Tax ID: L010378017 �11 Ao-eage; 0.16 Gr55 Tx (C*10tY); $7.00 Square Feet: 7192 Tax Year Report; 2023 Type of Lease: NNN Year Built; 1900 Zorrirlg_ CB10 4:10Mrnorr Area Maint: $2.65 ( Ekummtaryr; Insurance ExplSgFt, 0.35 U Jr./Middle Scholl: High S&W; Lease Term: Buyers: tlosirg 1_0ss: Pending Pate: Sales Term Selling AgWt 1: Closing Date- Sold Price. Selling Office 1: E3U5FNE55; Food Services CONSTRUCT CM: Brirk, Other CI FEATURES_ Display window, Spri nkler System LOCATION= Shopping Center DOCUMENTS; Aerial Photo, Lease Avail FLOOR TYPE; Other COOLING; Central AfC HEATENG; Gas LOT S T: Less Than .5 Acre ROOF TYPE: Other ROAD FRONTAGE: CountyJCity (toad SPECIAL FEATURES; None UTILME5 AVAILAEIF: CablE TV, Electricityr Natural Gas, Sewer, Telephone, Water -City SQUARE FEET: 5,000-10,000 Sli t POSSIBLE FINANCING; Other P055E5SIO1N; Negotiable SALE 1NCLUDE5; OtherInd SFIOWING INSTRUCTIONS- Appt Office Directions. on Clinton St dl rectly acrms from the old Capltal Mall. Remarks 7192 5gft Second Floor Restaurant of Oar or Other Commercial Space For Rent In The Heart of Du mtown Iowa Cq a University of Iowa Campus! Elevator Access! Currently the space is gutted to the studs but has poteritial to be converted to restaurant spare, bar or a variety of other comrrleri�al uses! owner is an Iowa Broker AdcR!rfl.r,i: NNN is approximately $10.00 psf. Contart Listing Agent fair showings. This InformaHm Is deer" rellaWEe tut not guaranteed, COMMERCIAL AC, ENT REPORT f MLS #; 202406682 Status; Active Ownership Type: Commercial Address= 124 5 Clinton St City, Zip; Iowa City 52240 s Afed; Iowa City DOM= lOT List Price: 50 Orlglnal Price; $0 µ Lease Price: $4,200,00 List Agent3. �. Owner: TSB Holdings, LLC Virtual Tour M LLrk Broker3: List Agentl: Mark Lynch CELL: 319-331-0409 List 6rokeri. Skogman Realty Co. W. 319-625-6427 LLrk Agent2: Tracy Barkalow Cell: 319-631-3258 List Broker2: Barkallow & Associates, Realtors Listing Date= 121912024 Explrat+on pate; 8f212.015 County: 3&wvsGn Doe. 0 E-mall: marklynch@�skogman.com �T1 Lot Dim; O Tax ID: L010378018 �11 Ao-edge: CO2 Gr55 Tx (Cry# 10tY); $7.00 Square Feet: lose Tax Year Report; 2023 Type of Lease: NNN Year Built; 1900 Zorkir1g- C1130 4:10Mnlork Area Maint: $2.65 ( Ekummtaryr; Insurance ExplSgFt= 0.35 U Jr./Middle Scholl: High S&W; Lease Term: Buyers: tlosirg 1_0ss: Pending Pate: Sales Term 5ellir,g,agWt 1: Closing Date- Sold Price. Selling Office 1: eU5FNE55; Food Services CONSTRUCT CM: Brir=k,Other CI FEATURES_ Display window, Spri nkler System LOCATION= Shopping Center DOCUMENTS; Aerial Photo, Lease Avail FLOOR TYPE; Other COOLING; Central AfC HEATENG; Gas LOT S T: Less Than .5 Acre ROOF TYPE: Other ROAD FRONTAGE: CountyJCity (toad SPECIAL FEATURES; None UTILME5 AVAILAE1F: CablE TV, Electricityr Natural Gas, Sewer, Telephone, Water -City SQUARE FEET: 5,000-10,000 SgFt POSSIBLE FINANCING; Other P()55E5SIO1N; Negotiable SALE 1NCLUDE5; Other Intl SNOWING 1NSTRLI[7I0NS- Appt Office Directions., On Clinton St dl rectly Atrms from the old Chpltal Mall. Remarks PRIME LOCATION! Downtown Iowa City on Uri iUer5ity of Iowa Campus! Right On Clinton Street AuV55 The Street From Old Capital Mall! Formerly Hawkeye Barber Shop For 66 Years! Owners Retired Ready For New User! Street Leven Prlvate Bathroom! Come Take a Tour Today! Owner is an IOwd 9r0ker Adder.il.r,i: NNN is approximately $10,00 psf. Contact Listing Agent fair showings. This InformaHm Is deer" rellaWEe tut not guaranteed, COMMERCIAL AGENT REPORT MILS. #; 202406789 Status; Active — Owner5hip Type: Commercial Address= 405 S Gilbert Street City, Zip; Iowa City 52240 Area; Iowa City DOM: 97 r LL%t. Price: 5f1 Original Price; $0 ■ t. Lease Price: $7,000.00 List Agent3. Ovmer: TSB Holdings LLC Virtual Tsar; i`. LLrk Broker#: List Agentl: Tracy Barkalow Cell: 319-631-3258 LiSt Erokerl. 5airkatlow& kmoriates, Realtors oft: 319-354-$G44 List Agent2: List Broker2: UStirlg Date= 1211912024 Explrauon pate; 6�30/2a25 County: 3&wvson Doe' O E-mall: Trb barkakywhames.€am �T1 Lit Dim; Irregular Tax ID: IDIS131002 �11 ease: 0.00 Grss Tx (CntYlOt ); $22AM4.00 Square Feet: 3882 Tax Year Report; 2023 Type of Lease: NNN Year Built; 19W Zorkire: Commerrial 4:10Mrnork Area Maint: $0.04 ( Ekummtaryr; Insurance ExplSgFt, 0.00 U Jr./Middle Scholl: High S&W; Lease Term: Buyers: Closing Costs; Pending Date: Sales Term: Selling Agent 1: Closing Date- Sold Price. Selling Office 1: eU5FNE55; Food Services CONSTRUCT CM: Brick CI FEATURES_ Display window, Security System, Sprinkler LOCATION= Inside Lot DOCUMENTS; Other Documents Available FLOOR TYPE: Concrete StablGrade, Vinyl/Vinyl Tile, Wood ODOLING; Central AEC HEATENG; Central LOT SIZE; Lem Than .5 Acre ROOF TYPE: Metal/Steel, Tar/Gravel ROAD FRONTAGE: Pavement SPECIAL FEATURES. None UTILMES AVAILA9LE; Cable TV, EleGtricityr Water -City SQUARE FEET: 2,O00-5,000 SgFt POSSIBLE FINANCING. cash P()55E5$IO1N; Negotiabre, At Clusing SALE INCLUDES; Other Intl SFIOWING INSTRLICTICINS- Appt Office Directions. Just one Block up From Gi I bert Street and SurlingrW Street rig ht Downtown Iowa Clty Remarks 5arictuary Pub Downtown Iowa City in the Heart of University of Iowa Campus is now available for rent. This tum" reetaurant1bar has Ida in Iowa City for decades! This Is a one of kind opportunity like no other In Iowa City. Find yourself stepping into a pleee of kxal history in this really coal bar. with full commercial kigch,en, multiple seating areas, large Liar and even a stage for live music this lace has a lot to offer, 50 if your looking to walk-in and open up a spot quickly this could be the right oppor bunity for you! Addendum: 3982 syft Finished space main level induded In the Lease Space. upper level space not Included in Leased Space. Lease rape based on 3882 sgfk, This InformaHm Is deer" rellaWEe but riot guaranteed, COMMERCIAL AGENT REPORT MLS #; 202500072 Status; Active Chwer5hip Type: Commercial Address= 124 E Washington Street City, Zip; Iowa City 52240 Aura; Iowa City MM: 83 List Price. so Original Price; $0 Lease Price: $30,00 List Agent3: Qvmer: TSB Holdings LLC Virtual Tsar; List Broker#: List Agentl: Tncr Barkelow Cell: 319-631-3258 List Erokerl. 5airkelow & kmoriates, Realtors off: 319-354-$G44 List Agent2: List Broker2: Liytirlg Date= 112/2025 Explrat+on pate; 12131/2025 County: 3&wvsGn Doe. 0 E-mall: Tra"barkakywhomes.€am dT1 Lot Dim; 0 Tax ID: LOI0311ID30 DIY ease: 0,00 GrssTx(Cry# Ioty); $38,504.40 Square Feet: 2800 Tax Year Report; 2023 ID Type of Lease: NNN Year Built; 1900 Zoning= CB-111 4:10mmorr Area Maint: $0.00 ( Ekumm aryr; Insurance ExplSgFt, 0.00 U Jr./Middle School: High S&W; Lease Term: Buyers: Closing Costs; Pending Pate: Sales Term Selling Agent 1: Closing Date- Sold Price. Selling Office 1: i3U5FNE55; FOOd Services, Modica! Dental, Office Building, CONSTRUCT CM: Brink CI FEATURES: (Display window, Sprinkler System LOCATION= Inside Lot DOCUMENTS; Hone FLOOR TYPE: Concrete Slab/Grade, Vinyl/Vinyl Tile, Wood COOLING; Cerlbrdl A/C HEATING: Central LOT SIZE; Lem Than .5 Acre ROOF TYPE: Tar/Gravel ROAD FRONTAGE: Pavement SPECIAL FEATURES: None UTILME5 AVAILA9LE; Cable TV, Electricity, Sewer, Telephone, Water -City SQUARE FEET: 2AN-5,000 SgFt POSSIBLE FINANCING: Cash P1055E5SION; IMMediaiM Negotiable, At Closing SALE INCLUDES; SNOWING 1NSTF(LiC7I0NS- Lackbox Directions: Middle of IMcck of washington street Between Linton street and Dubuque 9kreet Downtown Iowa Clty Across From New Target Remarks 2400 5gft of Commercial 5paoe For Rent Located in the Heart of Downtwm Iowa City & The University or Iowa Carnpusl This space was formerly Zephyr Ooples for more than 25 years and then a residential leasing office for The Rise & Latitude & Replay Sbadent Mousing Projects. Its current) getup as open office Space or retail spare but could easily be converted to restaurarrt space or Aist about any oammerclal usel Located across the street from the new Target with a tan of foot traffic in the middle of campus! It also feabires a full basement! Options are endless far this space give us a call w4 to take a private tour! Available October 2025! Adderdum: Current Leasing Office will Move nut in Ortbber 2025 this spares will be available then for a new Tenant. Please make arrangements for a private showing with office please do not disrupt current Tenants space during off -ice hours. Thank you This InformaHm Is deer" rella6le, but rwt guaranteed, COMMERCIAL AGENT REPORT MLS #; 2ID2500437 Status; Active ONmerehip Type: Commercial Address= 110 5 Gilbert St. Gty, Zip; Iowa City S2240 Area; Iowa City EOM: Tl Llsit Price: SId Orlglnal Price; $0 Lease Price: $5,000.00 List Agent3. r O�-mer: Augusta Place, LLC Virtual Tsar; - LIsiL Broker3: List Agentl: Thomas Kawt Cell: 319-631-5288 List l3rokerl; Urban Acres Real Estiatx� off: a00-745-9464 LL;L Agent2: List Broker2: Listing VDte: 1l1412025 Explration Date; 12jio/3.025 County: 3&wvsGn Doe. 0 E-malr= TamKauti@urbana€res,COm �T1 Lot Dim; lrreg Tax ID: 1010444002 SLY ease: 11.11 Gr55Tx(Cry# 10tY); $32,317.00 Square Feet: 4523 Tax Year Report; 2023 Type of Lease: Gross Year Built; 1907 Zoning: CB-5 Gammon Rred Maint: $0.00 ( Ekrnmuryr; Mann Insurance ExplSgFt= 0.00 U ]r./MiddleShcod: Southeast High Schad; City Lease Term: Buyers: Closing Cc=_S. Pending Pate: Sales Term Selling Agent 1: Cbsing Date- Sold Price. Selling Office 1: eU5FNE55; Educational, Food Services, Madical dental, C0145TRUCT CM: tirirk, Frame CI FEATURES: Sprinkler System LOCATION= Corner Lots Freestanding DOCUMENTS; Floor Plan Avail FLOOR TYPE: Concrete SlabJGrade, Wood CODLING; Central AEC HEATING: Gas, Forced Air LOT SIZE; Lem Than, 5 Acre ROOF TYPE: Wood Shingle ROAD FRONTAGE: Pavement SPECIAL FEATURES: Historical UTILMES AVAILA9LE; Electricity, HlaturaI Gas, Sewer, Water -City SQUARE FEET: 2AN-5,000 Sq Ft POSSIBLE FINANCING. father P()55E5SIO1N; Negotiable SALE INCLUDES; SNOWING INSTRLrCr10NS- Lockbox Directions. Corner of G ilbert St. N Iowa AvL. Remarks The Old Unitarian Church site. This building has been designated) as a hisbdrical landmark. Prominent t;vmer in downtown Iowa City, Free standing buildi ng across the street from a Clty parlaing ramp. Downtown zoning alknvs a wide range of office, restaurant, personal service, retall and entertainment uses. Interior can be modified- Lease includes elevator, ar4 Z AVA compliarvt bathroom. Heating 13� AjC upgrades, sprinklers. Offering a grass lease, Addendum' This InformaHm Is deer" rellable, but not guaranteed, COMMERCIAL AGENT REPORT - MLS #; 202500920 Status; Active - Chwerehip Type: Commercial Address= 125 5 Dubuque St ■� +' _ Gty, Zip; Iowa City 52240 / CENTRL p Area; Iowa City oom I]OM: 4$ Lfst Price. SID Original Price; $0 Lease Prim: $14.50 List AgenL3., CKvner: Steven Bernhardt Virtual Tour Lia Broker3: List Agentl: Ie1i Edberg Cell: 319-331-6187 List 6rokerl; Lepit-14""et, REALTORS Off: 319-351-9811 List Agent2: Carmen Krueger cell: 319-330-4927 List Brok ; Lepic-Krueger, REALTORS Listing VDte= 21612025 ExplraMn peke; 815/2026 County: 3&wvsGn Doe' 1 E-mail- jef @icrealestateAmcn dT1 Lot Dim; Irregular Tax ID: L010386004 �11 Acreage: C41 GrSs Tx {Cr 10ty}: $5.24 Square Feet: 34M Tax Year Report; 2422 Type of Lease: NNN Year Built; 1977 Zoning= C11130 Gammon Area Maint: $6.04 Ekunmtaryr; insurance ExplSgFt= 0.17 Jr./Middle Scholl: High S&W; Lease Term: Buyers: Closing Costs; Pending Pate: Sales Term Selling Agent 1: Closing Date- Sold Price. Selling Office 1: eU5FNE55; Office Building, Other CONSTRUCT CM: Brick, Frame CI FEATURES, Sprinkler System, Other LOCATION= Other DOCUMENTS; Floor Plan AvalI FLOOR TYPE: Carpet COOLING; Central A/C HEATING: Gas, Forced Air LOT SIZE; (Less Than, 5 Acre ROOF TYPE- Tar/Gravel ROAD FRONTAGE: CountylCity Road, Pavement SPECIAL FEATURES: Other UTILME5 AVAILAEILE; Cable TV, Elertricityr Natural Gas, Sewer, Water-CRy SQUARE FEET: 2,000-5,000 SgFt POSSIBLE FINANCING., Cash P()55E5SIO1N; Immediate SALE INCLUDES; ether Incl SFIOWING INSTRLlC7IONS- ShowingTime Directions. DireWy off the Pad Mad In downtown Iamb City, Convenient Varkmy in the Graduate ramp. Remarks This suite of 3,480 square feet is orr the 4th ODw of Plaza Center One in downtown Iowa City, right on the fountain fn the Red Mall at the NEC of Dubuque and College. The space size Includes the pro-rata portion of the common area assigned to it The CAM charge of 36.04 per foot per year includes all utilities for the suite. The gross monthly relit is approx y3r763- Elevator served suite is largely Open but Could be altered- Tree fi rst floor Tabby is open 7-5, M-F far the public and card key access at any time. The space is available immediately. It ran be combined with an adjacent unit wild 4866 SF. Bring your concepts and the Landlord will do his best to accommodate. Addendum_ This InformaHm Is deer" rellade, but not guaranteed, COMMERCIAL AGENT REPORT MILS. #; 202500922 Status; ✓ dive Ownership Type: Commercial Address= 125 5 Dubuque St O Gty, Zip; Iowa City 52240 ' Iowa City EOM: 49 LL%L Prlee. SId Original Prlee; $0 MALease Price: $14.50 List Agent3: ' Ovmer: Gerhardt Virtual Tsar List Broker#: List Agentl: 3eff Edberg Cell: 319-331-6187 Liyt broken; Lepit-K""et, REALTORS Off: 319-351-9811 List Agent2: Carmen Krueger cell: 319-330-4927 List Broker; Lepic-Krueger, REALTORS LiSlting note= 21612025 ExplraMn pate; 815/2026 County: 3&wvson Doe' 1 E-mall- jefr@icrealestateAmm �T1 Lot Dim; Irregular Tax ID: L010386004 �11 ease: 0.41 Grss Tx (CrYtyj0ty): $5.24 Square Feet: 4866 Tax Year Report; 2422 Type of Lease: NNN Year Built; 1977 Zorking: CB10 4:10MMcirk Area Maint: $6.04 Ekunmtaryr; insurance ExplSgFt, 0.17 Jr./Middle Scholl: High Si&W; Lease Term: Buyers: tlosirg 1_0sS: Pending Pate: Sales Terre_ Selling,agent 1: Cbsing Date- Sold Price. Selling Office 1: t3U5FNE55; Office Building, Other COh15TRUCT CM: Brick, Frame CI FEATURES, Sprinkler System, Other LOCATION= Office Center, Other DOCUMENTS; Floor Plan Avail FLOOR TYPE: Carpet CODLING; Central A/C HEATING: Gas, Forced Air LOT SIZE; Less Than .5 Acre ROOF TYPE: TarlGraMel ROAD FRONTAGE: CountylCity Raced, Pavement SPECIAL FEATURES: Other UTILME5 AVAILA9LE; Electricity, HaturaI Gas, Sewer, Water -City SQUAREFEET: 2,0 0-5,000SgFt POSSIBLE FINANCING., Cash PQ55E5SIO1N; Immediate SALE INCLUDES; Other Intl SFIOWING INSTRLICTIONS- ShowingTime Directions. Dimxdy off the Pad Matl In do wmtwvn Iowa Clty. com+errlent payrkl nq in the Gr7Md uate ramp. Remarks This suite of 4866 square feet is Oro the 4th Moor of Plaza Center One in dmmtown Itnva City, in the heart of the iconic Ped Mall, The elevator served suite Is largely open with a re€eptlon desk, 6 prlvate offices, conference rooms and break room, Avallable October 2024 and may be combined with ark adj&mrkt suite with 1r740 5F or demised to fit your use. Landlord will do his Desk to accommo0ate new tenants nWOS. The first floor Tabby is open 7-5, M-F for the public and card key access at any kime. The space size includes the proms portion of the common area assioned to it. The CAM charge Includes all utilltleS as vreu_ The total full service rent for the suite Is $10,571.39, The unit is available for sale In a separate listing for $1,085,000. AWendum' This InformaHm Is deer" rellaWEe but not guaranteed, COMMERCIAL AGENT REPORT MLS #; 202501101 Status; Active Ownership Type: Retail Address= 165Clinton M *' Gty, Zip; Iowa City 52245 Area; ListPrlee: Iowa City $f} EOM: 39 OrlglnalPrlee; $6 Lease Price: $28,00 List A,gent3. - O�vymperr; 16 5 Clinton St, LLC Virtual Tour y , �y L List Agentl: Mark Lynch CELL: 319-331-0409 List &Okeri. Skogman Realty CO. OfF 319-625-6427 List Agent2: List Broker2: LiSting Gate= 211512025 Explrauon Date; 2 f 13 f is ifi County: 3&wvson Doe' 2 E-mall: marklynch-�Rskogmanxclm �T1 Lot Dim; .072 Tax ID: 1010311016 �11 ease: 11,72 GrssTx(C*10ty); $0.04 Square Feet: 2104 Tax Year Report; 2024 Type of Lease: NNN Year Built; 1880 Zoning= C2 Common Area Maint: $9.55 Ek+rnmuryr; Insurance ExplSgFt, 0.35 Jr./Middle Scholl: High S&W; Lease Term: Buyers: Closing Cons: Pending Pate: Sales Term: Selling Agent 1: Closing Date- Sold Price. selling Office 1: eU5FNE55; RetaiIStpre CONSTRUCT CM: Other CI FEATURES_ None LOCATION= Other DOCUMENTS; Other Documents Available FLOOR TYPE; Other CODLING; Central A/C HEATING: Central LOT SIZE; Less Than .5 Acre ROOF TYPE: Other ROAD FRONTAGE: Other SPECIAL FEATURES: Other UTILME5 AVAILAEILE; See Other Remark SQUARE FEET: 2AN-5,000 5gF't POSSIBLE FINANCING., Cash, Other P()55E5SIO1N; Other SALE INCLUDES; Other Intl SFIOWINGINSTRLICTIONS. Lackbox, Vacant Directions., Fiowntawn Iowa City on 5 Clinton St across From the F entacrest Remarks Great kmu t downtown in the heart of downtown Iowra City. This retailloffice space is ready For a new tenant. Directly aaass the street from the Penta€rest and next door Mollys Cupcakes and Alrliner. The best of both worlds, lots of font traffic and pupil€ parking directly out front. The lease rate is 8 psf with and the operating eVerrses are $10 psi making the montlily payment approxirnately $6,662 per month. Addendum: Flow Plan attached. 6whure *poring. This InformaHm Is deer" rellaWEe but not gkiaranteed. COMMERCIAL AGENT REPORT MLS #; 202501449 Status; Active Chwer5hip Type: Commercial Address= 119 E wash Ington 5t 1st Fkmr Full Service Gty, Zip; Iowa City 52240 Area; Iowa City l]OM: 22 List Price: so Original Price; $0 Lease Price: $9,900.00 List Agent3., CKvner; Old Capitol View, LLC Virtual Tour, r List Broker3- 0 Schedule S ShOwlna List Agentl. Jae Clark cell: 319-631-1894 List l3rokerl; Commercial Reality Iowa City, LLC Off: 319-631-1894 List Agent2: List Broker2: Listing VDtE?: 31412025 Explrauon pate; 9/30/202S County: 3&wvsGn Doc. O E-mall: g[Ci974@r�.mm �T1 Lot Dim; 20 X 150 Tax ID: p �11 age: 11.00 GrssTx(Crr Ioty); $31,505.00 Square Feet: 301(10 Tax Year Report; 2024 Type of Lease: NNN Year Built; two zoning: CB10 CORlmorn Bred Plaint: $2,00 ( Ekunmuryr; Insurance ExplSgFt, 0.95 U Jr./Middle School: High School; Lease Term: Buyers: Closing Costs; Pending Pate: Sales Term Selling Agent 1: Closing Date- Sold Price. Selling Office 1: eU5FNE55; Food Services, Retail Store, Other CONSTRUCT CM: Block CI FEATURES, Delivery Door, Display window, Loading Dock, LOCATION= Other DOCUMENTS; Floor Plan Avail, Lease AvaiI FLOOR TYPE: Ceramic Tile, Vinyl {Vinyl Tile, Either COOLING; Central AEC HEATING; Gas LOT SIZE; Lem Than, 5 Acre ROOF TYPE: Other ROAD FRONTAGE: Other SPECIAL FEATURES; Historical UTILITIES AVAILA9LE; Cable TV, Elertricityr Natural Gas, Sewer, Telephone, Water -City SQUARE FEET: 2,1 N-5,000 SgFt POSSIBLE FINANCING. filcher P()55E5SIO1N; Negotiable SALE INCLUDES; SFIOWING INSTRLICiIONS- Appt Office Directions., Located In the tenter of downtown Iowa City near the tamer of Clinton Street and Washington Street, fat Floor restaurantlretall unit with basement storage, New Paint, flooring, windows, exterior facade, etc. in 2023 Remarks EXCELLENT LOCATION!! 30M square feet of restaurariVretail 15t fluor space & 500 square feet of unfinished basement space (storage, etc.), Located in the center of Dmwtown Iowa City and across the street from the University of Iowa campus. This space Is located an the 1st floor of a historic building ar+o is newly remodeled in 2023- Full 5ervim Restaurant Hood was installed by previous pennants_ walk by traffic at this l4Catior, is very highs with over 310,000 shidents at the University. Neighboring businesses include Target, Teerrms Tea, La Tea, Herteen & Stockers Jewelers, Hands levreler, Midwest One aank and IrlSornn a Cookies! Rent of $99t )nWth Includes the land taxes, building Insurance & CAM_ Addendum: Listing agent Is part corner of Old Capitol View LLC and a real estate Broker In Iowa. Current lease with Tana nts runs until 8131I25, but negotiations with Tenants could end lease earlier, This InforrmUm Is deer" rella6le, but not guaranteed, COMMERCIAL AGENT REPORT + MLS #; 202SOL472 Status; Active { + r Clmmemhip Type: Commercial Address= 209 E Washington 5t Ste 2f}0 A r City, Zip; Iowa City 52240 r Area; Iowa City DE)M: 21 - Lfst Price. $0 Orlglnal Price; $0 Lease Price: $1,260.00 List Agent3., CKvner: Moka-Java, LLC Virtual Tsar. Lfst Broker#: List Agentl. Jeff Edberg Cell: 319-331-6137 List Brokeri. Lepic-lCtaeyer, REALTORS Off: 319-351-9811 List Agent2: Carmen Krueger cell: 319-330-4927 UsitBroker2: Lepic-Kroeger,REALTORS Listing VDte: 3IS12025 Expiration Date; 8/21/2025 County: 3&wvsGn Doc= 1 E-mall= jetf @icrealestateA mn dT1 Lot Dim; Irregular Tax ID: 1010377005 �11 fledge: C33 Gr55Tx(CrtYlO ; $398.32 Square Feet: 760 Tax Year Report; 2023 Type of Lease: NNN Year Built; 1918 Zoning_ C1130 Common Area Maint: $100-00 Ekunmmryr; Insurance ExplSgFt= 20.12 Jr./Middle Scholl: High Scholl; Lease Term: Buyers: Closing Costs; Pending Pate: Sales Temp_ 5elling,agWt 1: Closing Date- Sold Price. Selling Office 1: eU5FNE55; Office Building, Other CONSTRUCT CM: brick CI FEATURES_ Other LOCATION= Office Center DOCUMENTS; Aerial Photo FLOOR TYPE: Carpet, Ceramic Tile COOLING; Central AEC HEATING: GaW,, Forced Air LOT SIZE; (Less Than .5 Acre ROOF TYPE: Other ROAD FRONTAGE: CountylCity Road, Pavement SPECIAL FEATURES: Historical UTILME5 AVAILABLE: Cable TV, Ele[trirityr Sewerr Telephone, Water -City SQUARE FEET: Under 2,000 SgFt POSSIBLE FINANCING., Cash PQ55E5$IO114; Negotiable SALE INCLUDES; SFIOWING INSTRI-PCTION5- Call Agent Only Directions. Located withl n the Paul Helen Build nq at the i ntersection of ►rraihlrepton St and Dubuque st in downtown lam city, north edge of the Ped Mall. Remarks This 760 SF 2nd floor office is just off the Ped-Mall in the historic Paul Helen Building, in the heart of downtown. The building is elevator served. The unit has 2 private offices and an open work space with kltchenett . Shared restrooms in the hallway. Grass monthly rent Is approxlrnately $1,87S.414 (Base rent of $1260 plus taxes, insur & CALM plus $100 for utilities (ete#ric, heat, water, sewer. trash)). Tenant pairs for internet. Available April 1. Tenant rights apply, need at least 24 hour notice to show. Addendum, Shawn Monday} Friday 5:30am-6,30pm, Saturday 7145-5,30, Sunday 7:45-12 when emirilor door is open. This InforrmUm Is deer" rella6le, but rwt guaranteed, COMMERCIAL AGENT REPORT I�► '` I MLS #; 202501506 Status; Active 4 Owrlemhip Type: Commercial o a ` Address= 401 5 Llnrr St { may, Zip; Iowa City 52.240 f Area; Iowa City l]OM: 20 LL%t Price: $0 Orlglnal Price; $0 Lease Price: $18,00 List Agent3; r Owner: Hawkeye Student 1, LLC Virtual Tsar. r I List Broker3: List Agentl: 3eff Edberg Cell: 319-331-6137 Liyt Drokeri. Lepic-Krueger, REALTOR5 Off: 319-351-9811 List Agent2: Carmen Krueger cell: 319-330-4927 List gmk ; Lepic-Krueger, REALTORS Listing VDtE?: 316{2025 Explramon Date; 5f3/20415 County: 3&wv Gn Doe' O E-mall= jeff @icrealestate.aorn �T1 Lot Dim; Irregular Tax ID: 1015220335 �11 Acreage: 0100 Grss Tx (Cry Ioty); $0.40 Square Feet: 3SW Tax Year Report; 2023 Type of Lease: NNN Year Built; 2018 Zoning: PRM Gammon Bred Maint: $3.10 ( Ekunmitaryr; Insurance ExplSgFt, 0.00 U Jr./Middle Scholl: High Sthod; Lease Term: Buyers: Closing Costs; Pending Pate: Sales Term: Selling Agent 1: Closing Date- Sold Price. Selling Office 1: eU5FNE55; FoodServim CONSTRUCT CM: Frame, Steel &Glass CI FEATURES: (Display Window, Fimres/Furniture, Other LOCATION= Corner Lot DOCUMENTS; None FLOOR TYPE: Ceramic Tile, Vfnyl/Vfnyl Tile CODLING; Central A/C HEATING: Gas, Furced Air LOT SIZE; 1-2 Acres ROOF TYPE: Metaljsteel ROAD FRONTAGE: County{City Road, Pavement SPECIAL FEATURES. Other 1,MLME5 AVAILAEILE; Cable TV, Elertricityr Natural Gas, Sewer, Water-CRy SQUARE FEET: 2AN-5,000 SgFt POSSIBLE FINANCING., Cash P()55E5$ION; Immediate SALE INCLUDES; Equipment Imcl, Irnreatcry Ind, Other Ind SFIOWING INSTRUCTIONS- ShowingTime Directions., Downtown Iowa City, st the cm or of Linn St & Court St. Noftealtcorner of the Hymn Plane buikpng. Remarks Farmer Nebrije Mexican Restaurant space is now for lease in downtown Towa City on the Brat floor of the Rise and Hyatt Hotel building! 9eautifull built out with all FFAE remalning including reception, haoths, tables dialrs, office and all kitchen equipment including hood and Ansul system. Drarna#iCally high ceilings, with a large rnwaoine seating area of an additional 1063 SF with seating. There is an a"nsive bar, a walk in cooler and storage room. For lease for $18 PSF plus $3.10 in operating oasts for a total gross rent of $6,154.17; tenant pays for utilities. Addendum, Lae Is subject to Larndlord perNKOng tern ImWon. This IrformaHm Is deer" rellade, but rwt gkiaranteed. GOM M ERCIAL AG ENT RE PO RT / MLS #; 202500899 Status; Active ONmer5hlp Type- Commercial Address= 15 N Van Buren City, Zip; Iowa City 52245 Area; Iowa City DE)M: 50 LL%tPrlee. 51,200 OrlglnalPrlee; $1,200 LeasePdoe: $1,200.00 ListAgent3.-15 N Van Buren LLC Virtual Tsar,Li List Broker#: List Agentl: 5anja Hunt List &okeri; Exp Realty List Agent2: List Broker2: Listing Date: 21412025 County: 3&wvsGn Doc. 0 cell: 319-471-102D office; 732-363-2399 Explrauon pate; 2f412026 E-mall: sanjahUFd ailAoom �T1 Lot Dim; 5000 Tax ID: 1010435014 �tY Ao-edge: C11 Gr55Tx(Cry# 10tY); $7,264.00 Square Feet: 1035 Tax Year Report; 2024 Type of Lease: gram Year Built; 19M Zoning: C5 Common Area Maint: $0.00 ( Ekummtaryr; Insurance ExplSgFt= 0.00 U Jr./Middle Scholl: High Si&W; Lease Term: Buyers: Closing Costs: Pending Pate: Sales Term Selling Agent 1: [lasing Date- Sold Price. Selling Office 1: eU5FNE55; Educational, office Building, R2ligipu5, Retail CONSTRUCT CM: Frdme, Frpntfother CI FEATURES: 9111board, Display window LOCATION= Inside Lot, Freestanding DOCUMENTS; Cease Avail FLOOR TYPE: Carpet VinyllVinyl Tile COOLING; Central A/C HEATING: Gas LOT SIZE; Less Than, 5 Acre ROOF TYPE- Composition ROAD FRONTAGE: County ICity Road SPECIAL FEATURES; Other UTILME5 AVAILABLE: Cable TV, Elertricityr Natural Gas, Water -City SQUARE FEET: Under 2,000 SgFt POSSIBLE FINANCING., Conventional P()55E5SIO1N; Immediate SALE INCLUDES; SNOWING INS71ZLFCTIONS- Call Agmyt Only, ShowingTime Directions: Iowa Avs to Van Burn, turn North on Vain Buren Remarks IDEAS FORA FUTURE BUSINESS; Caumelling Center, Chiropractor, Dentistr Dog Grooming, 5econ Hand Store, Photography, Art Studio/shop, Tutoring Center, Real Estate Office, Beauty Shop, Law Office, Clothig sales or Alterations —great downtown IcKation with many business people an students can be your dient5- Short walk to downtown and marry apartments ar,o businesses are tomtW close by- Parking Spaces are $B5ftmo each. Addendum' This InformaHm Is deer" rellaWEe but not guaranteed, COMMERCIAL AC, ENT REPORT MILS. #; 202500898 Status; Active Ownership Type: Office Address= 480 Iowa AVe 490 City, Zip; Iowa City 52245 Area; Iowa City DOM: 50 LlstPrlce. 51,750 OrlglnalPrlce; $1,750 + - Lease Price: $1,750.00 ListAgent3: Ovmer: 430 Iowa Ave LLC Virtual Tsar. Viirtuel Tour List Broker#: List Agentl: San0a Hunt cell: 319-471-102D List Erokerl. Exp Realty of%ce: 732-363-2399 List Agent2: List Broker2: Listing Date= 21412025 Explrauon pate; 2f412026 County: 3&wvsGn Doe. 0 E-mall: sanjanurtd3@QWdailAoom �T1 Lot Dim; 10,000 Tax ID: IOIL0435015 �tY Acreage: O 23 Gr55 Tx {C*10W; $31,307M Square Feet: 10f33 Tax Year Report; 20 Type of Lease: gram Year Built; 19M Zoning_ C5 Common Area Maint: $0.00 ( Ekummtaryr; Insurance ExplSgFt= 0.00 U Jr./Middle School: Virtwl Tour High SCI W; Lease Term: Buyers: Closing Costs: Pending Date: Sales Term: Selling AgWt 1: [lasing Date- Sold Price. Selling Office 1: eU5FNE55; Office Building CONSTRUCT CM: Brick,Frame CI FEATURES: Boiler L0CATION= Corner Lot DOCUMENTS; None;, Lease Avail FLOOR TYPE: Carpet COOLING; Central A/C HEATING: Gas, Central, Steamy Hptwtr LOT SIZE; Less Than, 5 Acre ROOF TYPE- Composition ROAD FRONTAGE: Pavement SPECIAL FEATURES; None UTILMES AVAILABLE-- Cable TV, Elec#ricityr Water -City SQUARE FEET: Under 2,000 SgFt POSSIBLE FINANCING: Cash, Comrentional P()55E5SIO1N; Immediate SALE INCLUDES; SFIOWINGINSTRLCC7IONS- ShowingTlme Directions: lcwa Ave, 400 dock Remarks Convenient location in the downtown area of Iowa City- Please watch the video I recorded to get a better idea far the use or this I ight, aped and airy space, After complete remodel In 2U23, it has never been Gccupied- This office sppace would be perfect for a real estate office, €ounceling, Financial uwviaes, education etc. This can be a short term Imse so you can best the downtown space without worry that you have to vammit to a very long time. Unusual find for Iowa City. You will only need a couple of desks and a conference table. The parking spaces are 585 each per rawth, but you always have a f]"ng soave dmntown. Excellent place to have a downtown exomire, Addendum: @lase call for where t0 deposit earnest money. This InformaHm Is deer" rellable, but rwt guaranteed, COMMERCIAL AGENT REPORT MILS. #; 202500059 Status; Active Ownership Type: Commercial Address= 4 S Linn St Gty, Zip; Iowa City 52240 Area; Iowa City EOM: 83 List Price. 5424,000 Original Price; $424,wo Lease Price: $0,00 List Agent3: Ovmer: Tender Virtual Tsar. I List Broker#: List Agentl: Jeff Ed" Cell: 319-331-6137 List erokerl; Leplc-K"Wgar, REALTORS Off: 319-351-9811 List Agent2: Carmen Krueger cell: 319-330-4927 ListBroker2: Lepic-Kroeger,REALTORS Listing Date: 11212025 Explrauon pate; 8f3l20415 County: 3&wvsGn E]oc_ 0 E-mail: iffmarewedateAoan dT1 Lot Dim; Irregular Tax lD: 101044GO02 �11 Acreage: coo Grss Tx (Cry# Ioty); $13r932«00 Square Feet: 1664 Tax Year Report; 20 Type of Lease: RA Year Built; 20DO Zoning: C11130 Gammon Area Maint: $0.00 ( Ekumm Bryn; Insurance ExplSgFt, 0.00 U Jr./Middle Scholl: High S&W; Lease Term: Buyers: Closing Costs; Pending Pate: Sales Term: Selling Agent 1: Cbsing Date- Sold Price. Selling Office 1: eU5FNE55; Educational, Medical Dental, Office Building, O0145TRUCT CM: brick, Frame CI FEATURES: Display window, SPrinkler 5ystemr other LOCATION= Carver Lotr Other DOCUMENTS; Floor Plan AvalI FLOOR TYPE; Ceramic Tile CODLING; Central AEC HEATENG; Heat Pump($) LOT S12E; .5-1 Acre ROOF TYPE: Other ROAD FRONTAGE: CountylCity Road, Pavement SPECIAL FEATURES; Other UTILME5 AVAILAEILE; Cable TV, Elertricityr Natural Gas, Sewer, Telephone, Water -City SQUARE FEET: 2,000-5,000 5gFt POSSIBLE FINANCING., Cash P055E55ION; Negotiable SALE 1NCLUDE5; Other Intl SI-tOWING INSTRUCTIONS - Call Agent Only, Special Flours Directions. Corner of 5 Llmn St and E Iowh Aa r downtown Iowa CkV. Remarks This high -end retail}~t;omrriercial space is i n an Ideal location... downtown Iowa Cityl Previous tenant was operating as a salon & spa but ecru be transformed to meet a new owner's needs. The orlgi nal footprint Is 3,907 SF but can be demised into a 1664 SF suite and 2243 SF suite. This offering of 1664 5F features a dramatic 2 story high ce"ir,g in the frontr with a mezzanine overlooking the spate 13c abundant natural light, Continuing through the space is a large open work area, restroom and breakroom. Limited designated parking spaces in the attached ramp are ioduded in the lease. ,additional paid parking is available in said ramp or on the streets surrounding the building. Located across the street from the University of Iowa Botany, Physics & Brain Sciences Building & within walking d ism nce of campus, shopping, dining, & entertainment For lea in separate offering_ The monthly gross rent (base plus taxes) Is ",545.$0- Floor Plc ns in A,��,. pC Ooc5- Current owner would Consider -a Contract Addendum: Owner wrould consider a contract sale with agmed upon terms. Current imp vi�meotr. enuld he removed allowing for a dramatic open layout; ace photo far reference. This InformaHm Is deermd rella6le, but not guararbRed. COMMERCIAL AGENT REPORT MILS. #; 202500058 Status; Active Ownership Type: Commercial Address= Z 5 Linn St Cky, Zip; Iowa City 52240 Area; Iowa City EOM: 83 List Price. 5572,000 Original Price; $572 AIWO Lease Price: $0.00 List Agent3: Ovmer: Zender Virtual Tour List Broker#: List Agentl: Jeff- Efterg Cell: 319-331-6137 List 6rokerl; Leplt-K"Wgar, REALTORS Off: 319-351-9811 List Agent2: Carmen Krueger cell: 319-330-4927 ListBroker2: Lepic-Kroeger,REALTORS Listing Date: 11212025 Explrauon pate; 6f3l20415 County: 3&wvsGn DDC_ 0 E-mail: jcfFfl arewedateAoan �T1 Lot Dim; Irregular Tax lD: 101044GO07 �11 Acreage: coo Grss Tx (Crytyloty); $20,380A0 Square Feet: 2243 Tax Year Report; 2023 Type of Lease: Net Year Built; 20DO Zoning: C11130 COnlmorr Area Maint: $0.1)u ( Ekumm Bryn; Insurance ExplSgFt= 0.00 U Jr./Middle School: High School; Lease Term: Buyers: Closing Costs; Pending Pate: Sales Term: Selling Agent 1: Closing Date- Sold Price. Selling Office 1: eU5FNE55; Educational, Medical Dental, OrWice Building, O0145TRUCT CM: brick, Frame CI FEATURES: Display window, SPrinkler 5ys11emr other LOCATION= Carver Lotr Other DOCUMENTS; Floor Plan AvalI FLOOR TYPE; Ceramic Tile CODLING; Central AEC HEATENG; Heat Pump($) LOT S T: .5-1 Acre ROOF TYPE: Other ROAD FRONTAGE: iCounfylCity Road, Pavement SPECIAL FEATURES; Other UTILME5 AVAILA9LE; Cable TV, Elertricityr Natural Gas, Sewer, Telephone, Water -City SQUARE FEET: 2,000-5,000 5gr-t POSSIBLE FINANCING., Cash P055E 5SION; Negotiable SALE 1NCLUDE5; Other Intl SI-tOWING INSTRUCTIONS - Call Agent Only, Special Flours Directions. Corner of 5 Llnn St and E IOwa Aa r downtown Iowa City. Remarks This high-erld retail}offi cornmer€ial space is i n an Ideal looation... downtown Iowa Cityl Previous tenant was operating ae a salon & spa but could be transformed to meet a new owner's needs. The orlgi nal footprint Is 3,9E17 SF but €an be demised Into a 1664 SF suite and 2.243 SF suite. Thls ofFerirg of 2243 5F features a dramatic 2 story high ceiling with abundant natural light- Continuing through the spare is a large open work area or retail space, treatment rooms or offices and 2 restronms. The possibil ites are limitless. Designated parloing spaces in the attached ramp are Induded in the sale- Additional paid parking is available io said ramp or on the streets SUFrounding the building- Located across the sheet from the University of Iowa Botany, Physics & Brain Sciences Building & within walking distance of campus, shopping, d iningr & entertairxnent. For lea IS separate offering_ The monthly gross rent (base plus taxes) is $6.127.13_ Floor Nang In ASSOC Docs- CLjmmnt owner vbwld Consider a Contract Addendum- Current owner would consider a contract sale. Current imptavements could be riamoved at louA ng for a olmmatlt open flayoutf See phoW for reference. This InformaHm Is deer" rellaWEe but not gkiaranteed. COMMERCIAL AGENT REPORT - MLS #; 202500921 Status; Active - Owner5hip Type: Commercial Address= 125 5 Dubuque St ■� +' _ Gty, Zip; Iowa City 52240 room CEwTItL tt Area; Iowa City DOM: 48 Lfst Price. S674,000 Orlglnal Prlee; $67f1X0 Lease Price: 50.00 L s= Agent3. Owner: Steven Bernhardt Virtual Tsar Lia Broker3: List Agentl: 3e1i Edberg Cell: 319-331-6187 List Drokerl; Lepic-14""et, REALTORS Off: 319-351-9811 List Agent2: Carmen Krueger cell: 319-330-4927 List Broker; Lepic-Krueger, REALTORS Listing Date: 21612025 Explramn Live; 8/512026 County: >&wvsGn Doe' 1 E-mall: jeff@icrealestateAxwn dT1 Lot Dim; Irregular Tax ID: L010386004 �11 Acreage: C41 GrssTx{Cr 10ty}: $19,732.00 Square Feet: 34M Tax Year Report; 2022 Type of Lease: NNN Year Built; 1977 Zoning_ C610 Gammon Area Maint: $6.04 Ekunmtaryr; Insurance ExplSgFt= 0.00 Jr./Middle Sdaod: High Sthod; Lease Term: Buyers: Closing Costs; Pending Date: Sales Term: Selling,agent 1: Cbsing Date- Sold Price. Selling Office 1: eU5FNE55; Office Building, Other O0145TRUCT CM: Brick, Frame CI FEATURES, Sprinkler System, Other LOCATION= Other DOCUMENTS; Floor Plan AvalI FLOOR TYPE: Carpet CODLING; Central A/C HEATING: Gas, Forced Air LOT SIZE; (Less Than, 5 Acre ROOF TYPE- Tar/Gravel ROAD FRONTAGE: CountylCity Road, Pavement SPECLAL FEATURES: Other UTILME5 AVAILA9LE; Cable TV, Elertricityr Natural Gas, Sewer, Water-CRy SQUARE FEET: 2,000-5,000 SgFt POSSIBLE FINANCING., Cash P()55E5SIO1N; Immediate SALE INCLUDES; Orther Incl SFIOWING INSTF(DCTIONS- ShowingTime Directions. Directly off the Pad Mall in downtown Ivws Clty, Convenient F)hrk my in the Graduate ramp. Remarks For Sale; A suite of 3r980 square feet on the 4th floor of Ptaxa Center One in downtmn lows City, in the heart of the iconic; Ped Mall, Half of the suite is teased leaving 1740 SF for an owner user. The elevator served suite is largely open but does have conference, storage, office, and kitchen areas_ The first floor lobby is open 7-5, M-F for the public and card key access at any time- Tree space is available immediately. The space size in€ludes the pro -rats partim of the aorrinm area assigned to it, The GAM diarges include all utilities for the suite. Addendum' This InformaHm Is deer" rellade, but rwt guaranteed, COMMERCIAL AGENT REPURT MLS #; 202500983 Status; Active Ownership Type: Commercial Address= 225 Linn 5t 517E 2A aw {'ky, Zip; Iowa City 52240 Area; Iowa City l]OM: 44 List Price: 9825,000 Orlglnal Price; $825,000 Lease Price: 50,00 List Agent3; Owner: New Pioneer's Cooperative ScieKty Virtual Tsar — J,[ LLt Broker#: List Agentl: 3eff Edberg Cell: 319-331-6137 LiSt Erokerl. LepiC-Krpegar, REALTORS Off: 319-351-9811 LLrk Agent2: Carmen Krueger cell- 319-330-4927 ListBroker2: Lepic-Kroeger,REALTORS LiStirlo VDte: 211012025 Explrauon pate; 8f1012025 County: 3&wvsdn Doc- 3 E-mall: iffmcrewestateA mn dT1 Lot Dim; Irregular Tax ID: 101044GO09 �11 Acreage: c00 GrsS Tx {C*10ty}: s",202 00 Square Feet: 3890 Tax Year Report; 2023 Type of Lease: MIA Year Built; 20DO Zorrirlg= C610 Common Area Maint: $D.Du Ekummi aryr; Insurance ExplSgFt, 0.00 Jr./Middle Scholl: High S&W; Lease Term: Buyers: Closing Costs; Pending Pate: Sales Term: 5elling,agWt 1: Closing Date- Sold Price. Selling Office 1: eU5FNE55; Educational, Medical nertkal,OfFioeBuilding, CONSTRUCT CM: Brick CI FEATURES: Other LOCATION= Other DOCUMENTS; Floor Plan AvalI FLOOR TYPE: Carpet COOLING; Central AEC HEATENG; Gas, Forced Air LOT S T: Less Than .5 Acre ROOF TYPE: Other ROAD FRONTAGE: CountyiCity Road, Pavement SPECIAL FEATURES; Other UTILME5 AVAILA9LE; Cable TV, EleGtricityr Natural Gas, Sewer, Telephone, Water -City SQUARE FEET: 2AN-5,000 5gr-t POSSIBLE FINANCING., Cash, Conventional P()55E5SION; 14"O+tiable SALE 1NCLUDE5; Other Intl SFIOWINGINSTf X71ONS- ShowingTlme Directions. Downtown low& City. Buikll ng is on the southeast corn&r of tho Intcrsectlon of Linn St arwd Iowa Ave, Parking Ia elther street or ramp just to the east. Take elevator or stairs for the perking ramp to the 3rd floor. Remarks Downtown Iowa City office condo For sale] Own a built Gut office condo on the elevator nerved 3rd floor of the Tower Parking Garage with walkway to the senlor renter. 3,894 square feet with reception, open work areas, prlvate offices, conference room, storage and kltdien. Corner location with lets of light- 4 parking Spaces dee*W with t17e suiter current owner is leasing 1E) additional spaces From the City- important to nOter zoning allows for the space to be €orwerted into a single family condo as well, with the proper modifications. Available immediat *. Addendum, Pleme see aswiated doca for MOA and CAM. Contact listing agent for additlanal information. This IrdarrmUm Is deer" rellade, but not guaranteed, COMMERCIAL AGENT REPORT MLS #; 202500061 Status; Active Chwer5hip Type- Commercial Address= 4 5 Limn St 2 City, Zip; Iowa City 52240 Arw; Iowa City EOM: 83 aarram� � LfstPrice. 5996,000 Original Price: $996,wo Lease Price: $O.OU List Agent3: • "` Owner: lender Virtual Tour Lia Broker#: List Agentl: Jeff- Ed6erg Cell: 319-331-6137 List 6rokerl; Leplt-K"Wgar, REALTORS Off: 319-351-9811 List Agent2: Carmen Krueger cell: 319-330-4927 ListBroker2: Lepic-Kroeger,REALTORS Listing Gate: 11212025 Explrauon Date: 6f3/21]25 County: 3&wvsGn DDC_ 0 E-mall: jeff@icrealestate,cam �T1 Lot Dim; Irregular Tax lD: L010440002 - 1010440007 �11 Acreage: 0100 Gr55TX(C*10ty): $3W,315.00 Square Feet: 3907 Tax Year Report; 2023 Type of Lease: Net Year Built; 2000 Zcrririg= C11130 Common Area Maint: SV-00 ( Ekumm Bryn; Insurance ExplSgFt= 4.04 U Jr./Middle Scholl: High Scholl; Lease Term: Buyers: Closing Costs; Pending Pate: Sales Term Selling Agent 1: Closing Date- Sold Prlce- Selling Office 1: eU5FNE55; Educational, Medical Dental, Dfrioe Building, CONSTRUCT CM: Brick, Frame CI FEATURES: Display window, SPrinkler 5ystemr other LOCATION= Carver Lotr Other DOCUMENTS; Floor Plan AvalI FLOOR TYPE; Ceramic Tile COOLING; Central AEC HEATENG; Heat Pump(S) LOT SIZE; .5-1 Acre ROOF TYPE: Other ROAD FRONTAGE: iCounitylCity Road, Pavement SPECIAL FEATURES; Other UTILME5 AVAILAEiLE; Cable TV, Electricity, Natural Gas, Sewer, Telephone, Water -City SQUARE FEET: 2AN-5,000 5gFt POSSIBLE FINANCING., Cash P055E 5SION; Negotiable SALE 1NCLUDE5; i ftr Intl SFIOWING INSTRUCTIONS- Call Agent Only, Special Flours Directions. Corner of 5 Llnn St and E Iowa Aa r downtown Iowa Clly. Remarks This high -end retail}~oornmercial space i5 in an ideal Ibcation... downtown Iowa Cityl Previous tenant was operating a5 a salon & spa but muld be transformed to meet a new owner's needs. This 3,9U7 SF features a dramatic 2 story high ceiling in the front, with a mezzanine overlooking the Space & abundant natural light. Contirruirg through the apace are treatment rooms & open work areas, 3 oesigrrated parking Soaaes in the attached ramp are included in the lease. Additional paid parking is available in said ramp or on the streets surrounding the building, Located coos the street from the university of Iowa Botany, Physics & Brain Sclentes Esuilding & within walking distance of campusr shWIngr dining, & entertainment. For lease in separate off iering. The monthly gross rent (base plus t u es) is $10, 317.74. Floor Plans. in Assoc Does, Current owner would consider a contract Sale with agreed upon terms - Addendum: Current owner would consider a contratt sale. Current improvements could he removed allowing for a dramatic ripen ragout; srse photo for reference. This InforrmUm Is deer" rellaWEe but not gkiaranteed. COMMERCIAL AGENT REPORT - MILS. #; 202500919 Status; Active - Chwer5hip Type: Commercial Address= 125 5 Dubuque St A ■� +' _ Gty, Zip; Iowa City 52240 / CINTRL p Area; Iowa City om l]OM: 4$ LL%LPrlce. 51,050,000 OrlglnalPrlce; $1,0S0'W0 Lease Price: $0,00 List Agent3: Owner: Berhardt Virtual Tour List Broker#: List Agentl: 3eff Edberg Cell: 319-331-6187 List 6rokerl; Lepit-14""er, REALTORS Off: 319-351-9811 List Agent2: Carmen Krueger cell: 319-330-4927 List Br,ok; Lepic-Krueger, REALTORS Listing late: 21612025 Explrat+mn Live; 8f512026 County: 3&wvsGn Doe' 0 E-mall: jeff icrealestateAxwn dT1 Lot Dim; Irregular Tax ID: L010386004 �11 Acreage: C41 GrssTx{C*10ty}: $75,290.00 Square Feet: 4720 Tax Year Report; 2023 Type of Lease: NNN Year Built; 1977 Zoning_ CB30 4:10mmon Area Maint: s6_04 ( Ekunmtaryr; insurance ExplSgFt, 0.00 U Jr./Middle Scholl: High School; Lease Term: Buyers: 'Iosirg Coss: Pending Pate: Sales Term: Selling Agent 1: Cbsing Date- Sold Price. Selling Office 1: eU5FNE55; Office Building, Other CONSTRUCT CM: Brick, Frame CI FEATURES, Sprinkler Systern, Other LOCATION= Office Center, Other DOCUMENTS; Floor Plan AvaII FLOOR TYPE: Carpet COOLING; Central A/C HEATING: Gas, Forced Air LOT SIZE; Less Than, 5 Acre ROOF TYPE: TarlGraMel ROAD FRONTAGE: CountyJCity Raced, Pavement SPECIAL FEATURES: Other UTILITIES AVAILAEILE; Electricity, HaturaI Gas, Sewer, Water -City SQUARE FEET: 2,000-5,000 Sq Ft POSSIBLE FINANCING., Cash P055E5=114; Immediate SALE INCLUDES; Other Intl SFIOWING INSTRLiCrIONS- ShowingTime Directions. Diaacliy off the Pad Mill in dawmt wn Iowa City. Convenlent park) nq in the Gr7Md uate ramp. Remarks For Sale; A suite of 4720 square feet on the 4th floor of Plata Center One in downtmon IOVYa City, in the heart of the iconic Ped Mall, A recently negotiated 10 yr lease makes for an excellent Investment opporbunity. The elevator served sulte is largely open with a reception desk, 12 private OMoes, conference rooms and break room. The first floor lobby is 00en 7-5r M-F for the public and card key aoaess at any time. The space size includes the pro -rats portion of the common area assigned to it. The GAM charge includes all utilities as well. Lease detai Is will be provided after signing an N11A. Addendum: No interior phatas at this time, please see floor plan In photos and Assoc Do€$. This InformaHm Is deer" rella6le, but rwt guaranteed, COMMERCIAL AGENT REPORT MLS #; 202500923 Status; Active Ownership Type: Commercial Address= 125 5 Dubuque St O Gty, Zip; Iowa City 52240 ' Iowa City EOM: 48 LL%LPrlee. 51,085,000 OrlglnalPrlee; $1,08SAOD Lease Prim: $0,00 List Agent3: MA ' Ovmer: Berhardt Virtual Tsar List Broker#: List Agentl: 3eff Edberg Cell: 319-331-6187 Liyt 6rokerl; Lepit-Krueger, REALTORS Off: 319-351-9811 List Agent2: Carmen Krueger cell: 319-330-4927 List Brok ; Lepic-Krueger, REALTORS Listing Gate= 21612025 Explramn Live; 8f512026 County: 3&wvsGn Doe. 1 E-mall: jefr@icrealestateAxwn �T1 Lot Dim; Irregular Tax ID: L010386004 �11 age: 0.41 GrssTx{Cry 10ty}: $27,055.00 Square Feet: 4866 Tax Year Report; 2022 Type of Lease: NNN Year Built; 1977 Zoning- CB10 Gammon Area Plaint: $6.04 Ekunmtaryr; insurance ExplSgFt, 0.00 Jr./Middle Scholl: High S&W; Lease Term: Buyers: 'Iosirg Coss: Pending Pate: Sales Term: Selling,agent 1: Closing Date- Sold Price. Selling Office 1: eU5FNE55; Office Building, Other CONSTRUCT CM: Brick, Frame CI FEATURES, Sprinkler Systern, Other LOCATION= Office Center, Other DOCUMENTS; Floor Plan Avail FLOOR TYPE: Carpet CODLING; Central A/C HEATING: Gas, Forced Air LOT SIZE; Less Than, 5 Acre ROOF TYPE: TarlGraMel ROAD FRONTAGE: CountylCity Raced, Pavement SPECIAL FEATURES: Other UTILJTIE5 AVAILAEILE; Electricity, HaturaI Gas, Sewer, Water -City SQUAIZEFEET: 2,0 0-5,000SgFt POSSIBLE FINANCING., Cash P055E5SION; Immediate SALE INCLUDES; Other Intl SNOWING INSTRLICrIONS- ShowlagMme Directions. Dimxdy off the Pad Mall In dwNtvWm Iowa Clty. Convenient payrklnq in the Gr7Mduate ramp. Remarks For Sale; This suite of 4866 square fillet is on the 4th 6xw of Plaza Center One in dovmtown Iowa City, in the heart of the iconic: Peel Mall. The elevator served suite Is largely open with a receptJon desk, 6 prlvaW offices, conference morns and break room. Avallable Ocloher 2024 and may be cornbined with adjacent suites_ Tile first floor lobby ie open 7-5, M •F for the public and card key access at any time. The space size includes the pro-rata portion of the common area assigned to it Thee CAM charge includes all utilities as well. The total full service rent for the suite is offered at $10,571.39_ Addendum: This InformaHm Is deer" rellade, but not guaranteed, COMMERCIAL AGENT REPORT MLS #; 2ID2500381 Status; Active Chwer5hip Type: Office Address= 221 E College St 301 Gty, Zip; Iowa City S2240 *� ,fired; Iowa City t)OM: 72 s LlstPrlce. 51,142,250 OrlglnalPrlee; $1,142,750 Lease Price: $24.00 List Agent3. Qv mer; Plaza Tatwers, LLC i Virtual Tour; r List Broker3, List Agentl: Teresa Marrow CELL: 319-530-6235 Liyt Drokerl; Blank & McCune IRedl Estate Off: 314-354-9440 List Agent2: List Broker2: LiSting note= 1f1312025 ExplraMn pate; 12131/2Q25 County: 3&wvsGn Doe' 0 E-mall: tmaommerrial@sauthslope.net �T1 Lot Dim; "fa Tax ID: L010390140 �11 Ao-eage; 0.03 GrssTx(Cry 10ty); $21s,fi3c.d0 Square Feet: 3265 Tax Year Report; 2023 Type of Lease: NNN Year Built; 2005 Zoning: GBD Commor+ Area Maint: $4-00 ( Ekunmuryr; Insurance ExplSgFt, 1.00 U Jr./Middle Scholl: High School; Lease Term: Buyers: 'losir3 Coss: Pending Pate: Sales Term Selling Agent 1: closing Date- Sold Price. Selling Office 1: eUSfNE55; Medical dental, Office Building, L1vef Work CONSTRUCT CM: Block, Brick, Precast ioncrete, Steel & OasS CI FEATURES: Delivery Door, Display Window, Loading Dark, LOCATION= Inside Lot, Office Center DOCUMENTS; Floor Plan AvaiI FLOOR TYPE: Concrete Structure, Carpet, Ceramic Tile, Vinyll Vinyl COOLING; Central A/C, Cpgling Towers, Zoned HEATING: Electrirr Central, Forced Air LOT SIZE; (Less Than .5 Acre ROOF TYPE- CornPOsltion ROAD FRONTAGE: CountylCity Raced SPECIAL FEATURES; None UTILME5 AVAILA9LE; Efeetricity, HfaturaI Gas, Sewer, Telephone, Underground Utilities, Water -City SQUARE FEET: 2,000-5,000 SgFt POSSIBLE FINANCING., Cash P1Q55E5SIO1N; Negotiable SALE INCLUDES; Other Intl SNOWING INSTF(LICrIONS- Lockbox Directions. Corner of College a nil Llnn, downtown Iowa City, 3rd floor Remarks Light filled office space in the heart of downtmm lows City's pedestrian plaza. This 3rd kor space is light filled with a glass wall that is located off of and accessible to a roof terrace. Sam Towers has a mix of vibrant aommerclal uses. Levels 1-6 indude a luxury hotel, conference center, banquet Wlity, fresh food market and deli. A short walk to a variety of downtown retail, restaurams and the university of Iowa Campus, Addendum: Can be purchased in whoW or by divided office suite. The suites are also available for laas2 at $24 psf, NNN. This InformaHm Is deer" rellade, but not guaranteed, COMMERCIAL AGENT REPORT MLS #; 202501421 Status; Active . rt Chwer5hip Type: Commercial s Address= 110 5 Dubuque St 110 & 111 .. low City, Zip; Iowa City 52240 l Area; Iowa City EOM: 23 LL%L Price. S1,500,OUO Original Price: $1,5f]I1,ROf? J- +- Lease Price: $0.f}0 List Agent3., CKvner: Jodi 5 Connolly Virtual Tour, LLL Broker#: List Agentl: Gwen Johnson List &okerl; Skogman Realty CO. Cell: 319-631-4936 Off: 319-625-fj427 IJsit Ayerlt2. List Brokei-2: Luting Gate= 31312025 Explration pate; 12131/3.025 County: 3&w+san Doe. 1 E-mall= gwen@gwenjahnsonAxxn dT1 Lot Dim; MIA Tax ID: 1010397091r 1010397002 DIY Ao-eage: coo Grss Tx (CrYtyj0ty): $8r674-00 Square Feet: Is" Tax Year Report; 2022 Type of Lease: M Year Built; 2012 Zoning= tom Common Area Maint: $2150-00 Ekunmuryr; Insurance ExplSgFt, 0.00 Jr,/Middle School: High S&W; Lease Term: Buyers: Closing Costs; Pending Pate: Sales Term: Selling,agent 1: Closing Date- Sold Price. Selling Office 1: t3tJ5FNE55; office Building, Retail Store, Other CONSTRUCT CM: Steel & Glass CI FEATURES: Lifts, Sprinkler System, Other LOCATION= office Center, Other DOCUMENTS; Aerial Photo, Floor Plan Avail FLOOR TYPE; Concrete Stru€turer Reinforced Concrete COOLING; Central AEC, Zoned HEATENG; Geothermal LOT SIZE; Less Than. 5 Acre ROOF TYPE: Other ROAD FRONTAGE: Other SPECIAL FEATURES: Other UTILME5 AVAILA9LE_ Electricity, Sewer, Telephone, Water -City SQUARE FEET: Under 2,000 5gFt POSSIBLE FINANCING., Cash, Conventional PQ55E5SIO1N; 30-60 Days, Negotiable, At Closing SALE 1NCLUDE5; Building & Lend, Other Intl SFIOWING 1NS7RLIC710NS- Call Agent Only, Key at Office Directions., Take Clinton St to Washington St Then take i right on Dubuque Sk (walking only), throw!p the Pedestrlarll Mail, and the building Is on yourleft. Street parking avai lahle on nearlgr streets, ar in par" garage at 5 Dubuque Stand E Burlington St Remarks Welcome to 110 5 Dubuque Street an award -winning exceptional commercial space located in the v drank pedestrian mall of downtown Iowa City, This prime lwc bon offers excellent font traffic, making It the perfect spat for a retail store, office, electronic scare, salon, or any business where suooM rt your goalI The expansive windows flood the space whit nahlral light, creating an inviting atmorWhere that will captivate pedestrians as they stroll by. This well -kept building is ready for its next owner ba make their mark in one of the hest locations in the city. All items attadied to walls are Included in the sale. Showings are only available from 8;006m to 9:00amr and must be scheduled with the listing agent, Don't miss this opportunity to establish your business in the heart of downtown Iowa City! Contact us today to arrange a showing. Addendum' This InforrmUm Is deer" rellatle, tut not guaranteed, COMMERCIAL AGENT REPORT MLS #; 202500383 Status; Active Cl memhip Type: Office F Address= 4104 E College St 4103 City, Zip; Iowa City 52240 Area; Iowa City EOM: 72 L1stPrlce. 51,918mo OrlglnalPrlce; $1,918,640 r Lease Price: $22,00 List Agent3. () Chauncey, L.L.C. Lia Broker3: Virtual Tour; List Augentl: Teresa Morrow CELL: 319-530-6235 List &okerl; Blank & McCune IRedl Estaft Off: 314-354-9440 List Agent2: List Brokei-2: Liytirlg VDte= 1f1312025 Explramn pate; 12131/2p25 County: 3&wvson Doe. 0 E-mall: tmaommerrial@s(3uthslope.net �T1 Lot Dim; O Tax ID: L01047117 �11 Ao-edge: coo Grss Tx (Cry# 10tY): $42,928.00 Square Feet: 6616 Tax Year Report; 2M IDType of Lease: n ja Year Built; 2017 Zorrlrlg: Central Business NsWct COmmorr Area Maint: $0.00 ceun Ekmmryr; Insurance ExplSgFt, 0.00 Jr./Middle Scholl: High S&W; Lease Term: Buyers: Closing Costs; Pending Pate: Sales Term: Selling Agent 1: Cbsing Date- Sold Price. Selling Office 1: eU5FNE55; Educational, Medical Darrtail, Live)Work CONSTRUCT CM: Block, Brick, Steel & Glass CI FEATURES: IDNhrery Door, Security System, Sprinkler System LOCATION= Corner Lot DOCUMENTS; Floor Plan AvaII FLOOR TYPE: ConcreteRructure. Reinforced Concrete CODLING; Central A/C, Zoned HEATING; Elec#rirr Fprued Air LOT SIZE; (Less Than, 5 Acre ROOF TYPE- Composition ROAD FRONTAGE: County ICity Road SPECIAL FEATURES; None UTILITIES AVAILA9LE; Electricity, Natural ias, Sewer, Telephone, Underground Utilities, water -City SQUARE FEET: 2AN-5,000 SQFt, S,000-10,000 SgFt POSSIBLE FINANCING., Cash P()55E5SIO1N; Negotiable SALE INCLUDES; Other Intl SFIOWING INSTRLICTIONS- Lockbox Directions. Corner of College Street acid Gil b*ert Street Remarks Chauncey, an Iowa City Landmark vn the east edge of downtown, hae Fourth fluor office space available. Lots of windows and natural light the space can be divided. Other commercial users Include RSM, and Brad ley & Riley Law among others. Chauncey offers many amenities Including FilmScer,e, 5pareMe, a 12 lane upscale bowling alley, a 51 room aoutique hotel, restaurarkt and Fix, a unique open concept coffee shop, Direct skywalk access to parking ramp, 4th floor exterior roof terrace with partially enclosed activity space and access to onsite fitness facility, Ideal IOcatlonr JUSt one triode away from pedestrian mall with shopping and restaurants, Addendum: Parking can be arrang-ad with the City of Iowra City in the adjacent or a nearby municipal ramp. one Reserved Prosprsct. Space can be divided and is priced at $290 psf, Available for lease as well at 22 psfr NNN, Warm shell specifications included in related documents. Rental commission computed on base rent only over the initlaI t,errn payable upon receipt from Landlord. This InformaHm Is deer" rellaWEe but nDt guarar �ztl. COMMERCIAL AGENT REPORT MLS #; 202500382 Status; Active Cl memhip Type: Office F Address= 404 E College St 301 City, Zip; Iowa City 52240 Area; Iowa City EOM: 72 LlstPrlce. 52,154,410 OrlglnalPrlce; $2,154,410 r Lease Price: $22,00 List Agent3. () Chauncey, L.L.C. List Broker3: Virtual Tour; .` , List Augentl: Teresa Morrow CELL: 319-530-6235 List Drokerl; Blank & McCune Real Estate Off: 314-354-9440 List Agent2: List Broker2: Liytirlg Gate= 1f1312025 EXPIramn pate; 12131l2425 County: 3&wvson Doe. 0 E-mall: tmaommerrial@sauthslope.net �T1 Lot Dim; O Tax ID: 1010471010 �11 Acreage: coo Grss Tx {Cry# 10ty}: $49,406.40 Square Feet: 7429 Tax Year Report; 2022 Type of Lease: n ja Year Built; 2017 Zoning_ Central Business pisWct Gammon Area Maint: 50-ao ( Ekunm aryr; Insurance ExplSgFt, O.OD U Jr./Middle Scholl: High S&W; Lease Term: Buyers: 'losirg Coss: Pending Pate: Sales Term: Selling Agent 1: Cbsing Date- Sold Price- Selling Office 1: eU5FNE55; Edurational, Medical Darrtail, Live)Work CONSTRUCT CM: Block, Brick, Steel & Glass CI FEATURES: IDNhrery Door, Security System, Sprinkler System LOCATION= Corner Lot DOCUMENTS; Floor Plan AvaII FLOOR TYPE: Concrete Rructure, Reinforced Concrebe COOLING; Central AEC, Zoned HEATING; Elec#rirr Fprued Air LOT SIZE; (Less Than, 5 Acre ROOF TYPE- Composition ROAD FRONTAGE: County ICity Road SPECIAL FEATURES; None UTILITIES AVAILA9LE; Electricity, Natural tea¢, Sewer, Telephone, Underground Utilities, water -City SQUARE FEET: 2,O00-5,000 SQFt, S,000-10,OW SgFt POSSIBLE FINANCING., Cash P()55E5SIO1N; N"Otiable SALE INCLUDES; Other Intl SFIOWING INSTRUCTIONS- Lockbox Directions. Corner of College Street aria Gil b*ert Street Remarks Chauncey, an Iowa City Landmark vn the east edge of downtown, has third floor office space available. Lots of windows and natural light, the space can be divided. Other commercial users Include RSM, and Bradley & Riley Law among others. Chauncey offers many amenities Including FilmScer,e, 5pareMe, a 12 lane upscale bawling alley, a 51 roam aoutique hotel, restaurant and Fix, a unique open concept coffee shop, Direct skywalk access to parking ramp, 4th floor exterior roof terrace with partially enclosed activity space and access to onsite fitness facility, Ideal Iacatlonr Just one bkK* away from pedestrian mall with shopping and re6taurantS, Addendum: Parking can be arrang-ad with the City of Iowra City in the adjacent or a nearby municipal ramp. one Reserved Prosprsct. Space can be divided and is priced at $290 psf, Available for lease as well at 22 psfr NNN, Warm shell specifications included in related documents. Rental commission computed on base rent only over the initlaI t,errn payable upon receipt from Landlord. This InformaHm Is deer" rellade, but nDt guarar �ztl. op 10 00 10 6g 1.0 +2..0 LETTER OF INTEREST & CONTACT INFORMATION 3.0 + 4.0 DEVELOPMENT TEAM & LEGAL ENTITY March 19, 2025 ICEBERG DEVELOPMENT GROUP, City of Iowa City, On behalf of Iceberg Development Group and our project team, I'm pleased to present the following revisions to our RFP submission for the 21 South Linn Street Site. As you are aware, I am working closely with Steve Long of Salida Partners at the ACT campus in Iowa City as well as other projects in Des Moines. When we saw the similarities of our competing proposals for this RFP and the discussion at the February 4 City Council Work Session, it became apparent that combining our projects would be stronger for the community. By incorporating the strengths of the Salida proposal (deep community engagement, sustainability, and market - rate housing) with the strengths of ours (affordable housing, ACT office space and a more economical building design) we were able to make our project more aligned to the City's goals stated in the RFP while making it more financially viable. We are excited about the potential to activate this corner of downtown Iowa City with a diverse mix of high quality affordable and market rate 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 "Froblerns are opportunities we have yet to see" 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 licensed tax attorney and certified public accountant. LEGAL ENTITY: Upon selection, Iceberg Development Group will create and be a co-owner with Salida Partners 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 Tel:815.284.8200 1 Fax:815.284.0926 keegan@wmpj.com I wmpj.com Legal Counsel: Mathew Hektoen WARD, MURRAY, PACE- ' & JOHNSON, P.C. LAW ❑FFICH Fro❑ci�y Ben ing ❑rl, Corr.r mrQe; Since 1962 Simmons Perrine Moyer Bergman PLC 1150 5th St. Suite 170 1 Coralville, IA 52241 Tel:319.896.4030 1 Fax:319.366.1917 ®® 51MMONS PERRINE mhektoen@spmblaw.com I spmblaw.com ®® MOYER 13ERGMAN Pr.c ICEBERG DEVELOPMENT GROUP, LIHTC Development I Commercial Properties I Investment Real Estate I subdivisions City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development 3 5.0 ORGANIZATIONAL CHART 6.0 EXPERIENCE BETTER TOGETHER: Your Community Focused Team Working together, our combined team is centered around prioritizing the community and maximizing the positive impact of your project. By merging our approach, we have achieved a mix of solutions benefiting the Iowa City community including strong affordable housing offerings, increasing increment, and a robust ground floor of community offerings. The team along with additional project partners are outlined below: DESIGN TEAM Shive-Hattery Mark Seabold, AIA Architecture Engineering 1 ICEBERG r vsLarur.Hrr.¢044 +, LEAD DEVELOPER ICEBERG DEVELOPMENT GROUP, LLC Jim Bergman 7152 Eldorado Pointe West Des Moines, IA 50266 563-505-5611 �1 Slingshot Steve Miller, AIA Architecture ADDITIONAL PROJECT PARTNERS REAL ESTATE SERVICES CRBE Riley Hogan Skydeck Capital Jon Taiber John Schickedanz, Executive DirectorThe EngletTheater Brent Stinski, Executive DirectorThe Stories Project Pat O'Leary, CFO Western Home Communities Simon Andrew, Executive DirectorThe Housing Fellowship Kris Spickler, Senior Mass Timber Ambassador SmartLAM North America 5tode5P1'ajmt WesternHvme housinga communitles fellowship SMART? Ar%rz I NORTH AM iRICAI COMMUNITY STRATEGY Community Development Strategies Simeon Talley �T� IN& KdWestOne Bank. ,111WTe rnNJCnP\D AT SHERIDAf�, CHICAGO, IL I COMPLETED 2023 Iceberg ❑evelapment Group, LLC I Jim Bergman I flln[uinbice.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 City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development 5 V`/INnYll I I-ANnINGS 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 tare 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 1Neliness center • Salon • Convenience center • Exterior gardens and exercise areas • Multi -purpose community rooms • Bistro cafe • Three story grand lobby INFORMATION. • $42 Million Ground -Up New • Theater Construction • Lounge, living and enrichment spaces • 142-unit Senior Living Community ROSENWALD COURTS cHICAGO, IL I COMPLETED 2018 Iceberg Development Group, LLC I Jim Bergman j jimoinbice.eom 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 Ci icago's Branzeville Neighborhood, Rosenwald Courts spans an entire city bloc: featuring well-appointed, comfortable apartment homes for both families and senlcrs. 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 (2077) • Novogradac Historlc Preservation (2047) HUD NationaJ Preservation Award (2018) 6 City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development 7 PENDING/UNDER CONSTRUCTION DEVELOPMENTS • 1. Avenue Square Apartments (Madison, WI) • 2. Alice Place Senior Living (Reedsburg, WI) • 3. Alice Place Senior Living (West Burlington, IA) • 5. Brookline Apartments (DeWitt, IA) • 6. Concord at Market Place (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 • 7. Cottage Bluff Apartments (Clinton, IA) • 8. Villas at Fox Pointe (Boone, IA) ALICE PLACE SENIOR APARTMENTS Monroe, W1 • 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 COMPETED 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 • • 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, 1A • Established November 2018 • 50 Units, Senior Independent Living WASHINGTON SENIOR APARTMENTS Clinton, lA • Established December 2018 • 46 Unit Senior Independent Living 8 City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development 9 PROJECT EXPERIENCE: SLINGSHOT ARCHITECTURE PULLBACK EXPERTISE AND THE RIGHT TOOLS PROVIDE LEVERAGE VISION DEFINE PROBLEM CONTEXT BUDGET MOMENTUM CALCULATED DESIGN BURSTS WILL RESULT IN SWIFT VICTORIES CONCEPT DESIGN SIMPLE DIAGRAM COMPLIANCE PLACE VALUE 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. I M PACT 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 Seeping 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. 10 City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development 11 ART RI OC WATERLOO, IA I COMPLETED 2020 1 71,000 SF Merge Urban Development Group I Brent Dahlstrom I brent@mergeurbandevelopment.com SURF-` HOTEL 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. n 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. 12 City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development 13 SURETY HOTEL DES MOINES, IA 1 2020 1 138 ROOMS Aparium Hotel Group MACKSON CORNERS OSHKOSH, WI I COMPLETED 2023 174 UNITS 177,914 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. 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. 14 City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development 15 MACKSON CORNERS OSHKOSH, WI I COMPLETED 2023 174 UNITS 177,914 GSF I $14.8M Merge Urban Development Group I Joy Brenner I joy@mergeurbandevelopment.com LEVE 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 16 City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development 17 FINANCIAL �ENTFR 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. FINANCIAL 'ENTER DES MOINES, IA I UNDER CONSTRUCTION 1 218 UNITS (Floors 1-18) 1 $50M LawMark Capital I Mark Buleziuk I mark@s2dxom DIVERSIFY PROGRAM.. Financial Cemer's international style CharaCIOF b19C8me the backdrop for a massive mcrea$e In program type$. Larga, open hoer plates allowed for units to fill in for urwsed office space. Lower Moors became the most vaned m program, with residenl amenities ezisling elmgside re$Idanl ameRlies, skywalk Infrastructure, IiFs floor retail and ufiliaes- The new prograrnmalic diversity enures a variety of possible incomes for the clieol. 18 City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development 19 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 L--a ANDANTE / "A MODERATELY PACED WALKING TEMPO" 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. CAESURA / "A SHORT PAUSE IN ERSE OR SONG" 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. 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 40 20 City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development 21 FIELD 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. AkL 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. Page Left Intentionally Blank 22 City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development 23 INEPT. gg- ILI 411 All. ��• -•' �� ��f ���.::.i�1 �' � � 111 -�� 302 Main Street- Cedar Falls, IA lop a� 1 mill + !� fi I�°A �eINA Wpl1 kill, .�- '��` Riverfront West/Replay- Iowa City, IA 414RUN _ 1 •,1, $ ` fv Hotel Manning - community owned and operated - Keosauqua, IA '� �►� / n Plated Table/ Little Village - Iowa City, IA SAL I CART N I .� PLATED BL Illli�u m Elul j ilIl 1 I - lip: A yl f"Y iM _NA E71 It ,. 01 i Plated Tablel%wa City, r y �I rtrt , -,-IV <+ s� E:f Fist -Ida 41 �j AOL I& 4i 1 14III1. m MINOR loll Loca I Roots National Reach SHIVCF-IA77ERY ARCH ITECTURE+FNGI N E E R I N G ILI WHO WE ARE Skydeck Capital, based in Chicago, is a private investment firm investing capital on behalf of the Polsky family. Because of the proprietary capital base, Skydeck Capital is not bound by any pre -defined time horizons or investment hurdles and can focus on long-term impact and value creation. OUR STORY Skydeck Capital's ethos comes from the experience and entrepreneurial spirit of our founder, Michael Polsky, who founded Indeck, Skygen and his latest energy venture, Invenergy. The name "Skydeck" pays homage to the successful exits of Skygen and Indeck. Today, Invenergy is North America's largest independent, privately held renewable energy company. REAL ESTATE INVESTMENTS Skydeck targets both opportunistic and income producing real property with experienced operators. Our investments span across multiple property types, with a primary focus on multifamily, office, retail, and industrial assets. Our portfolio includes ground -up mixed -use developments, value - add projects in multifamily and office assets, and opportunity zone investments in urban cores of secondary and tertiary markets. We prioritize long-term holds in resilient assets that can perform well through multiple market cycles. Skydeck Capital i Vie! I,SKY D E CK 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 rural 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 this 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, onathan Taiber, Vice President Skydeck LLC One South Wacker Drive Suite 1810 Chicago, IL 60606 www.skydeckllc. com 30 City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development SIMEON TALLEY COMMUNITY DEVELOPMENT PARTNERS Simeon Talley is an entrepreneur and community organizer currently living 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. DREAM CITY RENOVATION PHASE 1 - EXTERIOR RENDERING GROWING THE GREATEST SMALL CITY FOR THE ARTS 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 our strong partnerships with existing venues like Gabe's, 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-PROFIT ARTS 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' ofI oze�a GO 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 modern, 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. 32 City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development 33 7.0 FINANCIAL CAPABILITY 8.0 NARRATIVE DESCRIPTION OF PROJECT Iceberg Development Group, LLC. and its sole owner, Jim Bergman, have been involved in the development of residential and commercial projects 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. 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. For this project, both Skydeck Capital and MidWest 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. For more information about Skydeck capital, refer to the letter on page 30. ICEBERG DEVELOPMENT GROUP, PROJECT NARRATIVE The Iceberg Development team has partnered with the Salida Partners team in order to create a RFP Response that satisfies the City's request for a project that not only activates the corner of Linn and Washington Streets but that provides a mix of housing options including 45 Permanently Affordable Housing Units. This unique partnership has created a combined response that achieves the following City Goals. 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 engage with the alley • All utility and storage uses are hidden on backside cleaning up the alley SUPPORTTHE SMALL BUSINESS CULTURE OF DOWNTOWN IOWA CITY • Four 500 square foot micro/right-sized-retail bays 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 new businesses to move in with minimal up -front costs. CLEAR BENEFIT TO DOWNTOWN ECONOMY • Bringing 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 and market rate housing typologies creates not only badly needed workforce housing for downtown businesses but a more densely populated customer base within walking distance. • The Englert Theatre's venue and restaurant concept, Billy's, provides a space for the community to come together around arts and culture, filling a void left by the absence of The Mill. Billy's will activate the prominent corner frontage from morning until late in the evening through cultural programming and a relaxed family friendly cafe and restaurant space. • Stories Project, an interactive museum supporting Iowa City's UNESCO City of Literacy status, projects a $20M+ benefit to downtown businesses by bringing in outside tourist dollars to Iowa City. • Based on the population in the Cedar Rapids and Iowa City Combined Statistical Area the Englert venue and Stories Project could generate total economic impacts of $27.8M annually. - Community Attributes Inc."Stories/ Englert Economic Impact Study - 10/31/2024" A MIX OF HOUSING OPTIONS - 91 TOTAL RESIDENTIAL UNITS • This project brings 45 units of Permanent Affordable Housing to Downtown Iowa City with an income average of 60% AMI.33 of the Permanently Affordable Units are 55+ with the remaining 12 units being Permanently Affordable for all.The remaining 46 units are a combination of market rate (20 units), 55+ (10 units), and artist focused lofts (16 units). • The residents of the 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. 34 City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development 35 HIGH QUALITY CONSTRUCTION + LEADERSHIP IN CLIMATE ACTION • The proposed 12-story building will be Mass Timber Construction and will be an icon for Climate action • The building will be designed to meet LEED Silver standards. • 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 building design respectfully responds to its context with a two-story brick volume containing micro -retail bays on S Linn adjacent to the Studio 13 building and a contemporary three-story mass that aligns with the historic three-story buildings on Washington Street. Consistent with the Downtown Master Plan, the upper levels step back at the intersection with the historic fabric, while the corner is accentuated with a 12-story tower marking a place for the community to come together for cultural and entertainment uses. FINANCIAL RESPONSIBILITY • By combining the strengths of both teams'proposals this project maximizes the long-term financial benefits to the City of Iowa City and our local economy. • $2M purchase price for the property. • $9M TIF for 15 years at 60% of the taxes above the base. 2"I S LINN AN INVESTMENT FOR OUR CITY MAXIMIZE CITY'S RETURN ON INVESTMENT • Iowa City's use of TIF is intended to advance economic development by encouraging residential, commercial development in line with the City's TIF Policy and Strategic Plan. • Iowa City Strategic Plan Action Item 1.5: "Seek out and approve residential TIF applications for infrastructure when the project provides community benefit such as permanent affordable housing, expansive public open space, or advancement toward stated climate action goals." • TIF does not require the city to pay money out of its general fund upfront — instead, it's based on the future increase in property tax revenue generated by the new development (the "increment"). As the project generates additional property tax revenue over time (from increased property values), the city reimburses the developer from that new tax revenue increment. This incentive structure allows development that otherwise wouldn't be feasible to provide public benefit with greater long-term revenue for the city! $47M PROJECT COST/ $37M ASSESSED VALUE/ $24M TAXABLE VALUE $9M TIF FOR 15 YEARS @ 60% OF TAXES ABOVE THE BASE U_ w w Q m LU x m w 2.5 M 2.OM 1.5 M 1.0M 800 K 600K 400K 200K AFFORDABLE HOUSING COMMUNITY BENEFIT CITYTAX BENEFIT YR 1 YR 16 YR 30 Denotes property taxes received by City Denotes property taxes received by developer 36 City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development 37 21 S LINK AN INVESTMENT FOR THE PUBIC REALM ACTIVE AND ENGAGING GROUND FLOOR USES • Active "18-Hour" Street -Level Use - Incorporating a diverse mix of housing, office, cultural, retail, hospitality, and entertainment uses; this development will be activated throughout the day and into the evening, creating a welcoming, economically resilient, and dynamic atmosphere. • Multi -User Alley Cleanliness and Safety - By providing a shared trash space accessible from the alley, this project seeks to clean up and contribute to a more functional and welcoming environment for all users of the alley. • Right -Sized Grade A Commercial Spaces - Four 500 SF Micro -Retail bays activate the alley and S Linn Street and offer high visibility and accessibility at a price point that works for local emerging and independent businesses. • Integration with Existing Street Life - The building design respectfully responds to its context with a two-story brick volume containing micro -retail bays on S Linn adjacent to the Studio 13 building and a contemporary three-story mass that aligns with the historic three-story buildings on Washington Street. Consistent with the Downtown Master Plan, the upper levels step back at the intersection with the historic fabric, while the corner is accentuated with a 12-story tower marking a place for the community to come together for cultural and entertainment uses. 21 S LINN AN INVESTMENT FOR THE ARTS THE GREATEST SMALL CITY FOR THE ARTS • The Englert Theatre has a 2-story performance venue that opens out to a publicly accessible courtyard space on Washington Street and is served by a community - focused restaurant and cafe space that looks to fill the void left by The Mill. • Stories Project features a 2-story immersive projection room spanning levels 2 and 3. • This development team has been working directly with both The Englert Theatre and Stories Project, as well as other local arts -based nonprofits to create something that specifically meets the needs of this community as we strive to be the Greatest Small City For The Arts. k" STORIES PROJECT 2 STORY IMMERSIYE PRO JECTION ROOM EmGLERT YENuE 2 STORYSPACE STORIES PROJECT �rrPnr I A. 4A Z DOOR Z 4X COURTYARD � 21 S LINN AN INVESTMENT FOR OUR CITY PERMANENT AFFORDABLE HOUSING • This project provides 45 Permanently Affordable Housing Units to people earning an average of 60% of the Area Median Income in a mixed -income, mixed -use building in the most walkable part of our city, • By utilizing Low Income Housing Tax Credits (LIHTC), Iowa City can increase its supply of affordable housing through external funding sources, helping local dollars go farther. • Iowa City's mission -driven affordable housing non-profit, The Housing Fellowship, will participate in the affordable units with the exact arrangement to be determined. lot, oil It'll 411 III too ._ _INN AN INVESTMENT FORTHE ENVIRONMENT LEADERSHIP IN CLIMATE ACTION • By utilizing a Mass Timber structural system, this project reduces its Global Warming Potential by a staggering 73% compared to a Cold Formed Steel structural system. • Mass Timber will allow significantly faster construction timelines, saving approximately two months on a project of this scale, which saves money and increases quality by reducing the time that interior elements are exposed to the weather. • The Mass Timber elements are sourced from domestic sustainably harvested forests and manufactured in Alabama, which is less exposed to the risk of price escalation from tariffs compared to steel structural systems. • Mass Timber is lighter than steel or concrete, and requires less energy to produce, transport and assemble. • Trees absorb carbon dioxide as they grow, pulling it out of the atmosphere and storing it within the wood fiber. When trees are processed into timber and used in construction, the carbon remains trapped in the wood, locked away for the life of the building. GLOBAL WARMING POTENTIAL COMPARISON OF STRUCTURAL SYSTEMS 180 16.7 160 14.9 140 — 13.0 F 120 11.1 4t 100 9.3 O U S 0 7.4 U 0) 60 5.6 � a a 40 3.7 U 20 1.9 Wood 0 — 0.0 Metals -20 - _19 Concrete Mass Timber CFS Concrete - Masonry 9.0 CITY OFFICE The class A office space designed within this project may be expanded to include City of Iowa City office space. We will work with the City of Iowa City if there is a desire to be at the former site of City Hall. Page Left Intentionally Blank 42 City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development 43 'Ilk imA. JAI - r } a. t fit,Ar i • 41 _ 1 ae ' ` ,: ir I ft I • 4.. # ••�ago.1MOW IF • 4 .. i ` � � .r. WHY is IcebergDevelopment submitting for this development? IA T , 111110EPOZ 1-4 Jk CITY INITIATED PUBLIC SURVEY RESULTS The Iceberg Development team has reviewed the 21 S Linn Public Input Survey and has carefully considered the results. The survey indicates that respondents were looking for a project that is in alignment with the City's intent for a mixed -use redevelopment with the following takeaways: • INVITING TO THE PUBLIC: Foster an inclusive urban ■ experience, in which the general public feels welcome to A. 3% access space in the new development. Appeal to a variety of v �•n `4% ages and increase options for spending time downtown. 7% G—Sp— • SPACE FOR NEW OPPORTUNITIES: (without `"°'°°6,"Sw compromising our strengths): People come downtown for 04: GENERAL public spaces, and wide selection THOUGHTS o R the arts and culture, fun , P P DESIRES FOR 21 1N of food and drink. However, they also desire new and ST S. LN . aysx REDEVELOPMENT unique opportunities which fill the"gaps°-retail; dining, •�re 6% entertainment, and other experiences that aren't alcohol- d- s­ 5% centric; and housing options that diversify the everyday users ,° S. LINN ST. 1. of downtown. tt • AUTHENTIC URBAN EXPERIENCE: Achieve a redevelopment where the Downtown's character meets - modern amenities; prioritizing economic viability, walkability and multi -modal transportation, safety and cleanliness, and interesting and engaging street -level design. • -- ��1. • CONSIDER GEOGRAPHIC ASSETS: 21 S. Linn shares close r proximity with many key assets that were valued through the 7- public input: the Tower Place Ramp for parking, the Library and Senior Center for civic connection, and the Englert, FilmScene at the Chauncey, and Studio 13 for arts and culture opportunities are all examples. DEVELOPER INITIATED STAKEHOLDER PARTNER MEETING This development team has also met with 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 Schickedanz (Englert Theatre), Brent Stinski (Stories Project), Vivian Pei (Snacky Mini -Mart), Heather Utten back (Spare Me), Caty Gerlach (Better Together 2030), John EngIebrecht (Public Space One), Thomas Agran (Muralist/Artist), Clarity Guerra (Board member of IC Bike Library), Michelle Galvin (Velvet Coat), Jordan Sellergren (Little Village Magazine), Aly High (Shive-Hattery), Connor Mollenbeck (Shive-Hattery & Day Drink). Our first 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 City special 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 barriers for our small 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. Iceberg Development's response provides spaces for those who want and need a downtown presence to succeed and to help diversify the offerings in downtown Iowa City. By partnering with established performance venue providers, emerging museum partners, affordable and senior housing providers, office users, artists, and small business owners 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 families, visitors, and Iowa City residents will be attracted to Iowa City's downtown.This will 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 CELEBRATES THE 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 COURTYARD By separating this development project from the building next door by a 20 foot wide "Art Courtyard"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 facade next door.This provides a fantastic opportunity for viewing artwork including the current JAY 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 building provides multi -story views to the exterior character of the downtown as well as a space of immersion into art. Working with PS1 and other art organizations we envision an opportunity for suspended art within the space providing an overhead installation that can be a changing exhibit for emerging artists as well as additional space for projected or applied arts. The Arts Courtyard is connected to the entertainment venue via a large operable wall. Its front of house space provides outdoor seating, natural light, and views into the performance space. 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 of the existing 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. City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development 49 ENTERTAINMENT VENUE (BILLY'S)—15,000 SF 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, private users, and other community organizations and can be opened into the Arts Courtyard. The"Community Living Room"includes manyforms of seating including lounge areas and tables and chairs inside the venue, on ground floor, within the Arts Courtyard, 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 for the entire development connected to the community through operable walls in good weather. The venue's ground floor location allows for easy load in for performers and creates a greater connection for the artists to our community. Through wide operable doors, transparent glass walls, and the accessible Arts Courtyard, this new gathering space provides an active and engaging ground floor use for this critical corner of downtown Iowa City. 50 City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development STORIES PROJECT — POTENTIAL 15,000 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 — notjust fiction and poetry, but stories in film, television, games, song lyrics, 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. Stories Project 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 bean 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. As a new Destination Venue Stories Project brings tourism to downtown, extending visitors stays and allows Iowa City a destination to present its amazing literary history. The ground floor entry and presence establishes the connection with the downtown. v� j r ,w--m= ®� ww®��T CITY OF IOWA CITY UNESCO CITY OF LITERATURE �.T WHERE MARKET RATE MEETS AFFORDABLE- A DESIGN FOR EVERYONE By lowering barriers, this project paves the way for downtown businesses to grow. Right -Sized Retail This project provides four 500 SF micro/right-sized-retail spaces providing affordable space to those seeking to establish a retail business or service use. Providing tenant entrances along Linn Street helps energize and support other local business- es like AKAR, Om, Mammitas Coffee and Flowers, Record Collector, The Art Mission, Stan's Barber Shop, Critical Hit Games, Baroncini Ristorante, Release,Temple etc. These spaces support Iowa City's small business culture and drive more business and patrons downtown. EXPANDING ON HOUSING OPTIONS FOR DOWNTOWN IOWA CITY The Iceberg Development team has experience in providing affordable senior, market, affordable, and senior residential units. 91 TOTAL RESIDENTIAL UNITS Studio Lofts These 16 efficiency apartments provide units for the short-term housing for the International Writing Program, artists, and other arts focused residents. There will also be apartments available for Englert Theatre performers and other short-term rentals. Affordable Housing Iceberg Development is working with The Housing Fellowship to provide needed affordable housing in the downtown area. 45 permanently affordable apartments are priced to lower the costs of living in Iowa City's downtown where the connection to jobs and transportation is critical for Iowa City's success. 50% of the housing is permanently affordable one and two bedroom units. ^ Senior Housing This team is working with Western Home Communities, an established Iowa based senior provider, to `. provide 10 units dedicated to age restricted housing with the promise of continued care at their local campus currently under construction. Market Rate Housing hr The remaining 20 units will be available for market rate rental. City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development 53 THE ARCHITECTURE 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 Court- yard as a public plaza to increase views, natural light, and a visual connection to downtown Iowa City. Material changes and step backs respect and complement the adjacent historic properties and relate to the scale of the 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. Upper floors for office and residential uses are visually open for the MASS TIMBER Iceberg Development 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 time. Mass Timber is making a comeback because of its longevity and sustain- able attributes. 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. UST I A ILIT Working with local contractors, the project will be designed to achieve LEED Silveror better through 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 0 4 _ • Provide EV Charging for a portion of parking spaces 4 • Promote Connected Sites - micromobility infrastructure. -Secure Bike Storage IFIV -Pedestrian Friendly 6 - -Access to public transportation • Minimize Heat Island Effect - reflective roofing/ street trees/ shade canopies 1Rum I • Integrate Green /Vegetated Roofs • Minimize Light Pollution • Bird Proofing large window areas • Specifying low flow plumbing fixtures for residential and public spaces • Roof Top Photovoltaics • All Electric/ Efficient Building Systems • Source Natural, Local Materials where possible • Utilize Low Carbon Materials like Mass Timber • Specify Low VOC Materials • Provide Thermal Comfort for Occupants • Promote daylighting of Occupied Spaces EXCELLENCE IN • • • Prioritize Vital 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 012 21 S. LINN ST. PARKING GARAGE LEVEL SSA+SH 19 T 18 0z 17 I RAMP a IN ■ Y 16 m 15 ■ 14 STAIR 13 24 12 II F25 I 11 26 10 II ■ ■ I 9 I I 8 1 2 3 4 5 6 7 IN 0 in ■ SCALE: 1/16" = T-0" 21 S. LINN ST. GROUND FLOOR LEVEL SSA+SH SCALE: 1/16" = V-0" STAIR ICRO RETAI MECH/ 00 NSF RAMF TRASH _00 RETAIL BACKSTAGE/ ISF STORAGE ) RETAIL tR STAGE IVSF ■ ■ ( 1 ICRO RETAIL STAIR nep-� lo" n n n n b4 RESIDENTIAL V. ■ LOBBY r---------- EITSTO-]DI L--------+ O O DRINK RAIL HIGH TOPS O O O O COMMERCIAL LOBBY KITCHEN -- - V. 1 Q } m ■ ■ ■ DINING ■ ■ 2,415 NSF E WASHINGTON ST F--� 56 City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development 57 21 S. LINN ST. CITY OFFICE LEVEL SSA+SH GREEN ROOM / OFFICE 2,690 NSF -4 OPEN T"ENUE BELOW MEZZANINE 9S0 NSF SCALE: 1/16" = T-0" STAIR DOUBLE -HEIGHT PROJECTION ROOM STAIR I STORIES PROJECT 4,000 NSF SHARED THIRD SPACE ARTIST RESOURCE CENTER / COWORKING 7,S00 NSF 21 S. LINN ST. TYPICAL RESIDENTIAL LEVEL SCALE: 1/16" = V-0" 58 City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development 59 IME Cd 49 Fir- - TTT� i 40 STORIES PROJECT GREEN RM BACK STAGE STAGE TERRACE MEZZ VENUE ii~�`;;`��~4��iri�` �♦ PARKING BI-FOLD . I % DOOR M 1 OURTYARD SECTION THROUGH ART COURTYARD City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development 61 DT3; Strotegic Infill on Linn Street Excerpt from Downtown and Riverfront Crossings Master Plan - Downtown District Summary page 55 DT — 3: Strategic Infill — In order to reinforce the existing fabric that currently exists in Downtown Iowa City, new development should be mixed -use and pedestrian -oriented in nature. In addition, it should follow a list of very basic rules that are consistent with the existing character of Downtown. The following guidelines were developed following a thorough analysis of the patterns and framework that make Downtown special. These include: VM > New development should be located on sites that do not contain historic buildings. > Active uses. such as ground floor retail (and not blank walls), should front onto the street frontages and the City Plaza. VM > Upper floors should contain office, commercial, and residential uses. LVJ > Buildings should be built to the property line. u, Corner locations should be reserved for taller buildings, creating a block structure with taller buildings on the corners and lower scale, historic buildings between them. > The taller buildings on the corners should have a lower base consistent with adjacent historic buildings to make them `feel L�J contextual ,%,ith the rest of downtown, while also limiting the perceived height of towers. Lvi > Parking should be located both on -street and behind storefronts in parking structures. The buildings shown in the master plan embody these rules. Departure from these guidelines will erode the special qualities that make Downtown so unique. Ultimately, the City should pursue the creation of a form -based Code to regulate all new development Downtown. PLAZA TOWERS 14 STORIES a 1 ma's= } f� HOSPITALITY THE CHAUNCEY 15 STORIES FILM � 4 + PARK r' LIBRARY ,"RMANCE + ERTAINMkNT� PEDESTRIAN MOLL P RIB 201 14 STORIES r 21 S LINN ... 12 STORIES r - r , City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development 65 DIVERSE AFFORDABLE + ATTAINABLE HOUSING COMMUNITY GATHERING + EDUCATION + ENTERTAINMENT VIBRANT GROUND PLANE ENTRY/INTEREST/ACTIVATION URBAN MARKER WAYFINDING + GATEWAY 2 STORY MICRO -RETAIL + ART ALLEY ACTIVATION City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development 67 Contextual Architecture + Urban Design a r C w ��T oil 33 r. j .- i I . -M ►Maz Y j Mr. w ✓ r r - Fry. 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[IllII11! IIIIlIIIIIIIIIlllllll'III II III IFI III lfllll'I I rl I II I I I I IllFlliill ll, I11 iiI IFI ilili I II Ill Ill i [ I I Iilililrlllllllllllllllilil Ib � lilk'i., ''re' '' ... i •tllfili I Goal: Active & Engaging Ground Floor Uses JONOMM �L�- 1 _�fY•f III .. n I N RETAIL -cc- TAIL RETAIL A� Jll 1. EE .- �11 - a�A4� W-A i�►t+r; � T� rqg r � r 1 EL � ax P LO Goal: Support the Small Business Culture of Iowa City 11.0 FINANCING PLAN $47M PROJECT COST/ $37M ASSESSED VALUE/ $24M TAXABLE VALUE $91VI TIF FOR 15 YEARS @ 60% OF TAXES ABOVE THE BASE U- w Z w Q CO w X Q L � w 2.5 M 2.OM 1.5 M 1.0M 800K 600 K 400 K 200K AFFORDABLE HOUSI COMMUNITY BENEFI CITYTAX BENEFIT YR 1 Denotes property taxes received by City - Denotes property taxes received by developer Quick Reference Guide for Project Comparison 0 YR 30 • Height — 12 Stories • Construction Type — Mass Timber (Type IV-B) • Ground Floor Uses — 7,000 Entertainment, Kitchen + 2,000 SF Micro/ Affordable Retail • Upper Story Commercial — 3 Floors • Upper Story Residential — 8 Floors • Market Rate units —46 • Affordable Units —45 • Project Cost - $47M • Assessed Value - $37M • Taxable Value - $24M • Proposed Land Purchase - $2M • Initial Estimated TIF Subsidy - $9M TIF for 15 years at 60% of the taxes above base SOURCES Bank / Lender $ 35,720,019 LIHTC Equity $ 3,012,495 TOTAL Sources $ 38,732,514 TOTAL USES $ 47,626,692 - TOTAL SOURCES $ 38,732,514 GAP $ 8,894,178 USES ACQUISITION 2,000,000 Land Acquisition CONSTRUCTION 41,890,000 New Construction PROFESSIONAL FEES 1,466,150 Architect & Engineer 250,000 Consultants 1,196,258 Developer Fee 50,000 Accounting CONSTRUCTION FINANCE 10,000 Title and Recording 434,283 Constr. Interest 25,000 Appraisal PERMANENT FINANCE 20,000 Perm. Loan Fees 10,000 Title and Recording 30,000 Lender Legal SOFT COSTS 20,000 Marketing Expense 25,000 Rentup Expense RESERVES 50,000 Rentup Reserve 50,000 Operating Reserve 100,000 Working Capital TOTAL USES 47,626,692 PROFORMA 21 S Linn St, Iowa City, IA ICEBERG DEVELOPMENT GROUP REVENUES YEAR 1 2 3 4 5 6 Gross Residential Rent 1,881,024 1,937,455 1,995,578 2,055,446 2,117,109 2,180,622 +Other Income 62,400 64,272 66,200 68,186 70,232 72,339 Residential Vacancv 97,171 60,052 61,853 63,709 65,620 67,589 = Residential Income 1,783,853 1,877,403 1,933,725 1,991,737 2,051,489 2,113,034 Gross Commercial Rent + Tenant Contributions = Commercial Rent Commercial Vacancv =Commercial Income = Effective Gross Income Operating Expenses Management Fees Advertise/Market Legal/Administrative Utilities and Trash Maintenance/Repairs and Grounds Real Estate Property Tax Insurance Other = Total Operating Expenses -Transfer to Reserves Other Expenses = Net Operating Income Debt Service (p+i) bank Other Debt Service (p+i) Interest Only Loan Payments Debt Service - Deferred Loans Debt Service (p+i) Developer Debt Service -CF Loan = Cash Flow Partnership Management Fees Incentive Manaaement Fees = Cash Flow Available for Distribution Debt Coverage Ratio -Bank Loan Debt Coverage Ratio -All loans 1,136,019 1,170,100 1,205,203 1,241,359 1,278,599 515,000 525,300 535,806 546,522 557,453 1,651,019 1,695,400 1,741,009 1,787,881 1,836,052 82,551 50,862 52,230 53,636 55,082 1,568,468 1,644,538 1,688,778 1,734,244 1,780,970 3,414,721 3,586,213 3,688,703 3,794,167 3,902,691 1,316,957 568.602 1,885,559 56,567 1,828,992 4,014,364 7 8 9 10 11 12 13 14 15 16 17 18 19 20 2,246,041 2,313,422 2,382,825 2,454,310 2,527,939 2,603,777 2,681,890 2,762,347 2,845,218 2,930,574 3,018,491 3,109,046 3,202,317 3,298,387 74,509 76,744 79,046 81,418 83,860 86,376 88,967 91,637 94,386 97,217 100,134 103,138 106,232 109,419 69,616 71,705 73,856 76,072 78,354 80,705 83,126 85,620 88,188 90,834 93,559 96,366 99,256 102,234 2,176,425 2,241,717 2,308,969 2,378,238 2,449,585 2,523,073 2,598,765 2,676,728 2,757,029 2,839,740 2,924,933 3,012,681 3,103,061 3,196,153 1,356,466 1,397,160 1,439,075 1,482,247 1,526,715 1,572,516 1,619,691 1,668,282 1,718,331 1,769,881 1,822,977 1,877,666 1,933,996 1,992,016 579,974 591,573 603,405 615,473 627,782 640,338 653,145 666,207 679,532 693,122 706,985 721,124 735,547 750,258 1,936,440 1,988,733 2,042,479 2,097,720 2,154,497 2,212,854 2,272,836 2,334,490 2,397,862 2,463,003 2,529,962 2,598,791 2,669,543 2,742,274 58,093 59,662 61,274 62,932 64,635 66,386 68,185 70,035 71,936 73,890 75,899 77,964 80,086 82,268 1,878,347 1,929,071 1,981,205 2,034,788 2,089,862 2,146,468 2,204,651 2,264,455 2,325,926 2,389,113 2,454,063 2,520,827 2,589,457 2,660,006 4,129,280 4,247,533 4,369,220 4,494,444 4,623,307 4,755,917 4,892,383 5,032,819 5,177,341 5,326,070 5,479,129 5,636,645 5,798,750 5,965,577 102,442 104,490 106,580 108,712 110,886 113,104 115,366 117,673 120,027 122,427 124,876 127,373 129,921 132,519 135,170 137,873 140,630 143,443 146,312 149,238 34,147 34,830 35,527 36,237 36,962 37,701 38,455 39,224 40,009 40,809 41,625 42,458 43,307 44,173 45,057 45,958 46,877 47,814 48,771 49,746 28,000 28,560 29,131 29,714 30,308 30,914 31,533 32,163 32,806 33,463 34,132 34,814 35,511 36,221 36,945 37,684 38,438 39,207 39,991 40,791 28,200 28,764 29,339 29,926 30,525 31,135 31,758 32,393 33,041 33,702 34,376 35,063 35,764 36,480 37,209 37,953 38,713 39,487 40,277 41,082 40,000 40,800 41,616 42,448 43,297 44,163 45,046 45,947 46,866 47,804 48,760 49,735 50,730 51,744 52,779 53,835 54,911 56,010 57,130 58,272 0 0 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 1,345,868 1,372,786 1,400,241 100,000 102,000 104,040 106,121 108,243 110,408 112,616 114,869 117,166 119,509 121,899 124,337 126,824 129,361 131,948 134,587 137,279 140,024 142,825 145,681 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 332,789 339,445 1,346,234 1,373,158 1,400,621 1,428,634 1,457,206 1,486,351 1,516,078 1,546,399 1,577,327 1,608,874 1,641,051 1,673,872 1,707,350 1,741,497 1,776,327 1,811,853 1,848,090 1,885,052 50,000 50,500 51,005 51,515 52,030 52,551 53,076 53,607 54,143 54,684 55,231 55,783 56,341 56,905 57,474 58,048 58,629 59,215 59,807 60,405 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3,031,932 3,196,268 2,291,465 2,369,494 2,450,039 2,533,180 2,618,997 2,707,575 2,799,000 2,893,361 2,990,749 3,091,260 3,194,991 3,302,042 3,412,518 3,526,525 3,644,174 3,765,577 3,890,852 4,020,120 2,760,509 2,760,509 2,760,509 2,760,509 2,760,509 2,760,509 2,760,509 2,760,509 2,760,509 2,760,509 2,760,509 2,760,509 2,760,509 2,760,509 2,760,509 2,760,509 2,760,509 2,760,509 2,760,509 2,760,509 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 136,239 136,239 136,239 136,239 136,239 136,239 136,239 136,239 136,239 136,239 136,239 136,239 136,239 136,239 136,239 136,239 136,239 136,239 136,239 136,239 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 135,184 299,520 (605,283) (527,254) (446,708) (363,568) (277,750) (189,172) (97,748) (3,387) 94,001 194,512 298,243 405,295 515,770 629,777 747,426 868,829 994,104 1,123,372 135,184 299,520 (605,283) (527,254) (446,708) (363,568) (277,750) (189,172) (97,748) (3,387) 94,001 194,512 298,243 405,295 515,770 629,777 747,426 868,829 994,104 1,123,372 1.10 1.16 0.83 0.86 0.89 0.92 0.95 0.98 1.01 1.05 1.08 1.12 1.16 1.20 1.24 1.28 1.32 1.36 1.41 1.46 1.05 1.10 0.79 0.82 0.85 0.87 0.90 0.93 0.97 1.00 1.03 1.07 1.10 1.14 1.18 1.22 1.26 1.30 1.34 1.39 78 City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development 79 12.0, 13.0, 14.0 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.) ICEBERG 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 ERIC TAGTMEIER, SENIOR VICE PRESIDENT Iowa Bank and Trust • (563) 370-7144 • ETagtmeier@iowatrustbank.com VIRGINIA PACE, PRESIDENT LightenGale Group • (773) 531-8958 • Vpace@housingdeveloper.com SALIDA PARTNERS PROFESSIONAL REFERENCES: See following pages PROPOSER STRENGTHS Identify any unique resources, capabilities, or assets which the proposer would bring to the Project. The developers have 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. SALI DA PARTNERS October 30, 2024 To Wham 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. IS:,,n 5Zeve i.ongy ❑wner/Founder stevec&salidapartners.com 309 E Burlington St 4403, Iowa City, IA S2240 319.621-3462 City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development 81 EXHIBIT D T MidWestOne Bank October 30th, 2024 Salida Partners, LLC Steve Long 308 E Burlington St. #403 Iowa City, IA 52240 RE: Redevelopment of 21 S. Linn St To whom it may concern, 102 S. Clinton Street • Iowa City, IA 52240 Phone: 319356-5872 NdWesterm.bank Kyle Long Vice President —Commercial Banking klong@midwestone.com This letter shall indicate MidWestOne Bank's interest to provide a financing package for the redevelopment of the 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 Vice President Commercial Banking 319-356-5872 klong@midwestone.com M&Mbw FDIC LISTING OF LAWSUITS OR LITIGATION WITHIN THE PAST FIVE YEARS Lawsuit or Litigation n/a Status or Outcome n/a Comments n/a 82 City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development 83 15.0 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:_ ` ,- r am Date: / Oct6ber 31, 2024 EXHIBIT A FETTERS OF INTEREST AST` 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. Harmel(cDact.ora I www.ACT.ora 84 City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development 85 FETTERS OF INTEREST LETTERS OF RECOMMENDATION THE ENGLERT THEATRE city r. i Nelson 221 E WASHINGTON STREET rI walk LCityManager n IOWA CITY, IA 52240 1 1 O 1 '^' `�{� ^I k y 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, f John Schickedanz Executive Director October 21, 2024 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 Cityto 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 ofthe 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 lookforward 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 86 City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development 87 EXHIBIT B LETTERS OF RECOMMENDATION William J. Skare City Administrator Date: October 30', 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. Ska�Cpm City Administrator bskare@booneiowa.gov 923 81 St, P.O. Box 550 Telephone:515-432-4211 Boone, Iowa 50036-0550 Fax:515-433-0630 EXHIBIT B LETTERS OF RECOMMENDATION Iowa oTrust October 29, 2024 Re: Iceberg oeveicipment Group, LLCIJames 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 Bettendorr, IA. Iceberg DeveIQp mem Group, LLCIJames Bergman has been a customer of mine rnr 22 years. During that period, we have worked together on 32 projects with cumulative financing amounts of approximately $242 million. The prcAects include a wide variety of devetopment and constructlon. They have handled all projects as agreed and possess a superior amount or 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 Vfce President www. i owatru situ n k. co m 1-800-233-9109 88 City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development 89 EXHIBIT B FETTERS 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, 4. M C� Daniel G. Metz, Managing Director Wells Fargo Community Lending and Investment 90 City of Iowa City I Private Developer for the 21 S. Linn Street Property I Iceberg Development CITY OF IOWA CITY 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: April 10, 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 staffs 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 April 10, 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 April 10, 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. April 10, 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 April 10, 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 ell T el T eIV 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 $24.1m 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. April 10, 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 April 10, 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 Item Number: IP5. CITY OF IOWA CITY COUNCIL ACTION REPORT April 10, 2025 Pending City Council Work Session Topics Attachments: Pending WS Topics � r CITY OF IOWA CITY UNESCO CITY OF LITERATURE PENDING CITY COUNCIL WORK SESSION TOPICS April 8, 2025 Currently Scheduled • May 6, 2025: Comprehensive Plan Update (Joint meeting with the Planning & Zoning Commission) 21 S Linn Discussion FY23-25 Strategic Plan Action Item Topics Requiring 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 • University of Iowa update • Conference Board (Sept. 16, 2025) • Recap of the State of Iowa legislative session (June) • Overview of the Iowa City Human Rights Ordinance 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 April 10, 2025 Memo from City Clerk - Joint Entities Meeting Agenda Items for April 21 Attachments: Memo from City Clerk - Joint Entities Meeting Agenda Items for April 21 CITY OF IOWA CITY MEMORANDUM Date: March 7, 2025 To: Mayor and City Council From- Kellie Grace, City Clerk Re: Joint Entities Meeting Agenda Items for April 21 The next joint meeting with City Councils of Johnson County municipalities, the Johnson County Board of Supervisors, the Iowa City School District and neighboring school districts will be held on Monday, April 21, 2025. The meeting will be hosted by the Iowa City School District. Please come prepared to discuss agenda items you would like to include on that agenda at the next Council work session on April 15th. A complete agenda and meeting date confirmation will be available in your packet preceding the April 21 st Joint meeting. Item Number: IP7. a CITY OF IOWA CITY "QR T-4 COUNCIL ACTION REPORT April 10, 2025 Civil Service Entrance Examination - Senior Building Inspector Attachments: Civil Service Entrance Examination - Senior Building Inspector r I ==Z4 CITY OF IOWA CITY 410 East Washington Street Iowa City, Iowa 52240- 1 826 (319) 3S6-5000 (319) 3S6-5009 FAX www.icgov.org April 3, 2025 TO: The Honorable Mayor and the City Council RE: Civil Service Entrance Examination — Senior Building Inspector Under the authority of the Civil Service Commission of Iowa City, Iowa, I do hereby certify the following named person(s) as eligible for the position of Senior Building Inspector. Jacob Stahl Iowa City Civil Service Commission Rick W s, Chair Item Number: IP8. a CITY OF IOWA CITY "QR T-4 COUNCIL ACTION REPORT April 10, 2025 Civil Service Entrance Examination - Building Inspector II Attachments: Civil Service Entrance Examination - Building Inspector II � r 1 CITY OF IOWA CITY 410 East Washington Street Iowa City, Iowa 52240-1826 (319) 356-5000 (319) 356-5009 FAX www.icgov.org April 3, 2025 TO: The Honorable Mayor and the City Council RE: Civil Service Entrance Examination — Building Inspector II Under the authority of the Civil Service Commission of Iowa City, Iowa, I do hereby certify the following named person(s) as eligible for the position of Building Inspector II. Ryan Hanes Iowa City Civil Service Commission Rick VKss, Chair Item Number: IP9. CITY OF IOWA CITY COUNCIL ACTION REPORT April 10, 2025 Airport Commission: March 13 Attachments: Airport Commission: March 13 MINUTES IOWA CITY AIRPORT COMMISSION March 13, 2025 — 6:00 P.M. AIRPORT TERMINAL BUILDING DRAFT Members Present: Warren Bishop, Ryan Story, Judy Pfohl, Chris Lawrence, Hellecktra Orozco, Members Absent: Staff Present: Michael Tharp, Jennifer Schwickerath Others Present: Adam Thompson, Eric Jans, Dick Miller RECOMMENDATIONS TO COUNCIL: None DETERMINE QUORUM A quorum was determined at 6:01 pm and Lawrence called the meeting to order. APPROVAL OF MINUTES Story moved to approve the minutes from February 13, 2025, seconded by Pfohl. Motion carried 5-0. PUBLIC COMMENT - None ITEMS FOR DISCUSSION / ACTION a. T-Hangar Lease Language — Tharp stated that over the last few months, the Commission has been discussing updating t-hangar language to encourage turnover in the hangars to provide an opportunity for more active fliers to get hangars. Tharp stated that he had sent the draft revisions to hangar tenants both via email and postal mail. Story relayed comments on the hangar leases that he received. Tharp responded to comments. Tharp noted there was no time limit for construction or repairs. Story referenced general questions regarding enforcement. Tharp noted that beyond the annual inspections that occur, enforcement would likely be complaint based. Story asked about the process for enforcement and Tharp stated that it would be an eviction process which would be brought to the Commission. Story asked about home built aircraft. Tharp noted they did add language for home built aircraft to have active process but it also isn't specifically defined with a time limit. Schwickerath noted that they had discussed using a time limit but it was also difficult to judge what limit would be adequate. Bishop noted that they should stress they're not trying to kick anyone out, but they do understand the wait time on the waiting list is long. Dick Miller asked about private hangar development. Tharp noted they have extended taxiway infrastructure for private Airport Commission March 13, 2025 Page 2 of 5 hangar builds so that is also an option for folks. Lawrence asked if there were any other comments regarding the language. i. Consider a motion approving t-hangar lease template - Pfohl moved to adopt the t-hangar lease template, seconded by Orozco. Motion carried 3-0 (Story, Bishop abstain) b. Airport Construction Projects: i. FAA grant projects 1. Runway 12/30 Displaced Threshold/Relocation — Tharp stated that there wasn't a lot of news for the runway project. Tharp said they were waiting for the manufacturer to send the REIL replacements for the contractor to install and they were waiting to hear back from FAA on the flight check schedule. 2. Solar Power Project — Tharp stated that the project was complete and the punch list was complete. Tharp stated that he was happy to report that the portion of the array that was powering building D had generated more energy than they consumed over the last billing cycle. He said the runway lighting array had come close but didn't quite get there and he hoped the next cycle would show a surplus of energy. a. Consider a resolution accepting the project as complete — Lawrence moved resolution #A25-05, seconded by Story. Motion carried 5-0. ii. Iowa DOT grant projects — Tharp stated that over the last couple of weeks, he had sent an email to the Commission regarding the situation at Marion's airport and that if Marion did close, he wanted to do as much as possible to capture some of those airplanes that would be looking for new locations. Tharp stated that he had conversations with the Iowa DOT, the FAA and the City regarding funding. Tharp stated that he was hoping to be able to build something around 1500 square feet with 45 foot wide doors. Tharp stated that he was also working with McClure on pricing. Tharp noted that they had the money remaining from the infrastructure law funding, and that they had Iowa DOT grant programs that would be available for funds. Tharp stated that they had approximately $600,000 of funds from the federal side, and the DOT grant programs would have up to $300,000 for the verticial instructure program and uncapped dollars available through the state AIP program for pavements. Tharp also stated that they could potentially have money from the FAA AIP program but that also comes with strings because they have to state to the FAA that their airside project needs are met for the next 3 years. Lawrence stated that they would need to weigh current projects if they used AIP and that even though they couldn't spend money, their allocations would continue to be banked through the 3 years. Tharp stated that he also discussed with the City a loan of up to $500,000 to be available as the last dollars in. Bishop asked about the location and Tharp responded. Tharp stated that the extension of the taxiway in the area is also part of his long term vision for secondary access in the area. Tharp stated that the FAA was on board using the remainder of the BIL money and potentially the AIP funds with the restrictions. Tharp stated that the state was supportive with their funding programs. Tharp stated that the triggering event was Marion announcing they were planning to shut the runway down and that even if that Airport Commission March 13, 2025 Page 3 of 5 didn't happen, given the size of the waiting list he believes the market for hangars is there regardless. Lawrence stated that if the Commission went with this plan, they were using the funds that were planned for the 2nd phase of the solar array and that project would be shelved. Pfohl asked what was needed from the Commission. Tharp stated that he just needed their approval to move forward. Tharp stated that the first real test would be the state grant applications that are due in May. Bishop asked about how the hangars would be treated with regard to the hangar waiting list. Tharp stated that they had a couple of different options. Tharp noted that they had people looking for larger spaces and it would likely be a targeted marketing setup because they would be charging approximately 50% more than the currently t-hangar price points. Tharp also noted that as they moved forward, they would offer pre -leasing for the hangars. Lawrence stated that through the development he would recommend they proceed with having the hangars fully heated vs "heat capable". Members agreed by consensus to move forward with Tharp's plan as presented. iii. Grass Landing Ops — Tharp stated that this was just an update about how they were planning on detailing the areas available for landing. Tharp stated that he had discussed with Wolford options and that Wolford had showed him how they marked their runway on the farm with white rocks. Story asked about rolling it, and Tharp responded they want to roll it at least this first time and walk it to make sure they were catching any dangerous conditions. iv. Airport Terminal Building Modernization/Replacement — Tharp stated that he, Chris and Hellecktra, had met with Adam and had a chance to talk about the project and now that they weren't pressed by going after the FAA terminal program grant, they had the option to take a step back and re- examine ways to review the current building and expansion options and continue to use the existing building. Tharp stated the process still had some good results and the space needs study gave them confirmation on their needs. Thompson discussed the process for moving forward with the Commission and doing a deeper look at those alternatives. c. Airport "Operations" i. Budget — Tharp stated that they had a couple of hangar doors that had issues over the last month that would have an impact. Tharp noted that one door got stuck open during one of the deep freezes, and that it damaged some of the water lines in the hangar. ii. Management — 1 . Hangar Ground Lease — Tharp stated that over the last couple of months he had been working with Matt and Jennifer to negotiate a ground lease for the development of a hangar. The hangar lease is a 50 year lease at $.35 per square foot per year. Pfohl asked if this made them another FBO to which Tharp said it didn't. Story asked about the length of the term at 50 years. Tharp noted that this was a product of negotiations and the cost of the hangar to be built. Story asked about the improvements versus the rent rate reduction. Tharp stated that he did not have complete numbers but expected the costs for improvements to exceed the costs of the rent reduction. Story asked what the last ground rates rented where, and Tharp Airport Commission March 13, 2025 Page 4 of 5 responded that the last ground hangar build was $.25 per square foot which was about 10 years ago. a. Consider a resolution setting a public hearing with Hangar 319er, LLC for a ground lease to construct a hangar — Lawrence moved resolution #A25-06, seconded by Orozco. Motion carried 3-0 iii. Events — Tharp noted that the EAA event at the beginning of April was coming up before the next meeting. Tharp stated that the Young Eagles date had been set for August 16t". Tharp stated the movie schedule and movie lists had been published but didn't have the list with him. 1. Summer of the Arts Movies (May 17, June 21, July 19, Aug 9) 2. Young Eagles (Aug 16th) 3. Pancake Breakfast (Aug 24) 4. Autocross (April 13, June 8, Sept 14, Oct 19) 5. EAA 33 Tri-motor/B-25 (April 4-6) d. FBO / Flight Training Reports i. Jet Air — Wolford stated he didn't have a lot, but hoped they were done with snow. Wolford noted the taxiway lights had been working since their repairs were completed. He also noted that they would need to do some work on door seals. Wolford stated that he was working on a door for Hangar M which might need more work. e. Staff Evaluation i. Airport Manager - Members thanked Tharp for his work. Tharp stated that he appreciated the vote of confidence and that if there was ever an issue where they perceived he wasn't meeting expectations to let him know, because he can't fix it if he doesn't know it's broken. Tharp stated that he and Lawrence had talked previously and that he was asking the Commission to hold his step increase payment for budgetary purposes. Tharp noted that the Commission recently adjusted the pay scale and wages and that knowing the budget gave him a better perspective on it. f. Commission Members' Reports — none g. Staff Report — Tharp noted the conference coming up and that if members wanted to attend they could work with him to get registered. Tharp noted that IPAA hosted their legislative reception but he was ill that night. Tharp stated that it wasn't as well attended as in the past and that they were watching the budget conversations now. i. State Aviation Conference Okoboji — (April 15-17) ii. 4 States (FAA Central Region) Conference — Kansas City (August 20- 22) SET NEXT REGULAR MEETING — Set the next meeting for April 101n ADJOURN — Story moved to adjorn the meeting at 7:10pm. Seconded by Bishop. Motion carried 5-0 CHAIRPERSON DATE Airport Commission March 13, 2025 Page 5 of 5 Airport Commission ATTENDANCE RECORD 2024-2025 TERM 0 0 cn 0 cn 0 w 0 0 ao 0 cc -L o -L -L N o 0 N 0 w N CF) A N W W W NAME EXP. A A A A A A A A A A CT1 CT1 CT1 Warren 06/30/26 Bishop O/E O/E X X X X X X X X X X X Christopher 06/30/25 X X O/E O/E O/E X X O/E X X X O/E X Lawrence Hellecktra 06/30/28 O/E X O/E X X O/E X O/E X X O/E O/E X Orozco Judy Pfohl 06/30/26 X O/E X X X X X X X X O/E X X Ryan Story 06/30/27 X X X X O/E X X X X X X X X Key. 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: IP10. CITY OF IOWA CITY COUNCIL ACTION REPORT April 10, 2025 Community Police Review Board: March 11 Attachments: Community Police Review Board: March 11 CPRB — Draft Minutes March 11, 2025 Page 1 Call to Order.• Members Present: Members Absent: Staff Present: Others Present: Community Police Review Board Minutes — March 11, 2025 Chair Mekies called the meeting to order at 5:31 p.m. Colette Atkins, Melissa Jensen, Saul Mekies, Jessica Hobart -Collis, David Schwindt Jerri MacConnell Staff Connie McCurdy, Legal Counsel Patrick Ford Police Chief Dustin Liston Recommendations to City Council: ■ Accept CPRB Complaint #24-08 Public Report Consent Calendar: • Draft minutes from the February 11, 2025 meeting • Correspondence from Mary McCann • ICPD Policy #208 Continuity of Operations Plan (COOP) • ICPD Policy #409 Crisis Intervention Incidents • ICPD Policy #417 Field Training • ICPD Policy #419 Contacts & Temporary Detentions • ICPD Policy #505 Traffic & Parking Citations • ICPD Policy #802 Evidence • ICPD Procedure #802 Evidence Procedures • ICPD Use of Force Review/Report — October 2024 • ICPD Use of Force Review/Report — November 2024 • ICPD Use of Force Review/Report — December 2024 Motion by Jensen, seconded by Mekies to adopt the consent calendar as presented. Board member Schwindt had a question for Chief Liston regarding some language in the Use of Force review/reports. Schwindt noted that in the October and December reports "superficial injuries" was the term used and "injuries" was used in the November report. Chief Liston said he thought it was just a wording difference, but he would check into it. Legal Counsel Ford asked Chief Liston if the ICPD policies were on the website and the Chief said they are working with Communications to get them all on the website. Motion carried 510. MacConnell was absent. New Business: ■ Identification of officers in public re arts: Board member Schwindt expressed concerns regarding discussing the police officer numbers in open session. Legal Counsel Ford mentioned concerns pertaining to members of the public learning the identity of officers mentioned in a complaint because of having numbers assigned to them in the Chief s report. Chief Liston said CPRB — Draft Minutes March 11, 2025 Page 2 he would look into the reasons for using the numbers to identify the officers and depending on what he finds, he may change from the numbers to letters such as Officer A. Old Business: ■ None. Public Comment of Items not on the Agenda: + Mary McCann appeared and mentioned concerns with members of the public wanting police officers to take over for Immigration & Customs Enforcement (ICE). Board Information: ■ None. Staff Information: ■ None. Tentative Meeting Schedule and Future Agendas (subject to clian„e): ■ April 08, 2025, 5:30 p.m. —Helling Conference Room ■ May 13, 2025, 5:30 p.m. — Helling Conference Room ■ June 10, 2025, 5:30 p.m. — Helling Conference Room ■ July 08, 2025, 5:30 p.m. —Helling Conference Room Schwindt and Atkins will not be at the April 8' meeting. Motion by Jensen, seconded by Hobart -Collis to move the April 8' meeting to April 15' Motion carried 510. MacConnell was absent. Executive Session: Motion by Jensen, seconded by Atkins, to adjourn to Executive Session based on Section 21.5(1)(a) of the Code of Iowa to review or discuss records which are required or authorized by state or federal law to be kept confidential or to be kept confidential as a condition for that government body's possession or continued receipt of federal funds, and 22.7(l 1) personal information in confidential personnel records of public bodies including but not limited to cities, boards of supervisors and school districts, and 22-7(5) police officer investigative reports, except where disclosure is authorized elsewhere in the Code; and 22.7(18) Communications not required by law, rule or procedure that are made to a government body or to any of its employees by identified persons outside of government, to the extent that the government body receiving those communications from such persons outside of government could reasonably believe that those persons would be discouraged from making them to that government body if they were available for general public examination. Motion carried 510. MacConnell was absent. Open session adjourned: 5:54 p.m. CPRB — Draft Minutes March 11, 2025 Page 3 Return to Open Session: Returned to open session: 6:27 p.m. Motion by Jensen, seconded by Schwindt to accept the draft of the public report for CPRB Complaint #24-08 as amended and forward to City Council. Motion carried 510. MacConnell was absent. Adjotirnment: Motion by Atkins, seconded by Jensen to adjourn. Motion carried 510. MacConnell was absent. Meeting adjourned: 6:28 p.m. Community Police Review Board Attendance Record Year 2024-2025 Name Term 05/14/24 06/11/24 07/09/24 08/20/24 09/10/24 10/08/24 10/16/24 11/12/24 12/I0/24 01/14/25 02/11/25 03/11/25 Expires Forum Colette 06/30/28 --- --- O/E X X X X X X X X X Atkins Ricky 06/30/26 X X X X X X O/E O/E O/E O/E --- Downing Jessica Hobart- 06/30/26 X O/E X X X X X O/E X X X X Collis Melissa 06/30/25 X X X X O/E X O/E X X X X X Jensen Jerri 06/30/27 O/E X X O/E X X X X X O/E X O/E MacConnell Saul Mekies 06/30/25 O/E X X X O/E X X X O/E X X X Amanda 06/30/24 X X Remington David 06/30/28 -- --- X O/E X X O/E X X O/E X Schwindt Orville E 06/30/24 X X --- ___ Townsend Key: X = Present O = Absent O/E = Absent/Excused NM = No Meeting --- = Not a Member COMMUNITY POLICE REVIEW BOARD A Board of the City of Iowa City 410 East Washington Street ?07 1b ,rR 1 1 Pr= 6= 53 Iowa City, IA 52240-1826 (319) 356-5041 `_e=_ March 11, 2025 To: City Council Complainant City Manager Chief of Police Officer(s) involved in complaint From: Community Police Review Board Re: Investigation of CPRB Complaint #24-08 This is the Report of the Community Police Review Board's (the "Board") review of the investigation of Complaint CPRB #24-08 (the "Complaint"). BOARD'S RESPONSIBILITY: Under the City Code of the City of Iowa City, the Board's responsibilities are as follows: 1. The Board forwards all complaints to the Police Chief, who completes an investigation. (Iowa City Code Section 8-8-7(A).) 2. When the Board receives the Police Chiefs report, the Board must select one or more of the following levels of review, in accordance with Iowa City Code Section 8-8-7(B)(1): a. On the record with no additional investigation. b. Interview /meet with complainant. c. Interview /meet with named officer(s) and other officers. d. Request additional investigation by the police chief, or request police assistance in the board's own investigation. e. Perform its own investigation with the authority to subpoena witnesses. f. Hire independent investigators. 3. In reviewing the Police Chiefs report, the Board must apply a "reasonable basis" standard of review. This means that the Board must give deference to the Police Chiefs report, because of the Police Chief's professional expertise. (Iowa City Code Section 8- 8-7(13)(2))•) 4. According to Iowa City Code Section 8-8-7(B)(2), the Board can recommend that the Police Chief reverse or modify the Chiefs findings only if: a. The findings are not supported by substantial evidence; or b. The findings are unreasonable, arbitrary, or capricious; or c. The findings are contrary to a police department policy or practice, or any federal, state, or local law. 5. When the Board has completed its review of the Police U&N i oW; the b&A issues a public report to the city council. The public report must include: (1) detailed. findings of fact; and (2) a clearly articulated conclusion explaining why and,the�extent to -.which the complaint is either "sustained" or "not sustained ". (Iowa City' Code'Se'ction 8-8-7(B)(6)). 6. Even if the Board finds that the complaint is sustained, the Board has no authority to discipline the officer involved. BOARD'S PROCEDURE: The complaint was initiated by the Complainant on November 18,2024. As required by Section 8-8-5(B) of the City Code, the complaint was referred to the Chief of Police for investigation. The Chief's Report was filed with the City Clerk on February 3, 2025. As per Section 8-8-6(D) of the City Code, the Complainant was given the opportunity to respond to the Chief's report. The Complainant did not further submit a response to the Chief's report. The Board voted on February 11, 2025 to apply the following Level of Review to the Chiefs Report: on the record with no additional investigation, pursuant to Iowa City Code Section 8-8- 7(13)(1)(a)• The Board reviewed the complaint, the Police Chief's report, and the video footage of the body - worn camera showing the interaction between the officers and the complainant. The Board met to consider the Report on February 11, 2025 and March 11, 2025. FINDINGS OF FACT: In 2023 and 2024, the complainant filed two reports of sexual assault. Both were thoroughly investigated. On November 14, 2024, the complainant came to the Iowa City Police Department and requested a copy of a report. The complainant quickly became agitated and unwilling to participate in a productive conversation, as viewed on the body -cam footage. An officer provided her with a copy of the report. The complainant asked if the officer was going to deal with the individual she had complained about, and the officer stated he would not at that time. The complainant continued to shout as she left the Iowa City Police Department. The Iowa City Police Department made several attempts to contact the complainant about this CPRB complaint. She did send an email to the investigator, but it did not address or provide clarity to her reported concerns. She also scheduled a meeting with the investigator but did not attend. She did not respond to any correspondence after the missed meeting. COMPLAINANT'S ALLEGATION #1 — Violation of 320.5.9 Conduct. see pertinent part of the policy below) (f) Discourteous, disrespectful or discriminatory treatment of any member of the public or any member of this department or the City. Chief's conclusion: Not sustained Board's conclusion: Not sustained Basis for the Board's conclusion: Within the complainant's report, she indicates she has been subjected to mental and emotional abuse by officers of the Iowa City Police Department. She goes on to state that officers have laughed at and disrespected her. Upon the Board's review of the body -cam footage, it is observed that the officer provided her a copy of the requested report and did not laugh or disrespect her during the interaction. COMPLAINANT'S ALLEGATION #2 — Violation of 323.5 Re uired Reporting. see policy below In all of the following situations, members shall complete reports using the appropriate department -approved forms and reporting methods, unless otherwise approved by a supervisor. The reporting requirements are not intended to be all-inclusive. A member may complete a report if he/she deems it necessary or as directed by a supervisor. Chief's conclusion: Not sustained Board's conclusion: Not sustained Basis for the Board's conclusion: Within the complainant's report, she states that the officers were unwilling to take a report from her and had not done an investigation. Upon review of the body -cam footage, it is observed a report is provided to the complainant. In review of the chief's report, it is noted the complainant's reports of sexual assault were investigated.