Dubuque Initiatives Annual Report 2017

Funding

ANNUAL REPORT

January – December 2017

To the Board of Directors of Dubuque Initiatives: A summary of the past year’s activities and major accomplishments.

Board of Directors

• Board nominated Doug Horstmann as President, Mike Jansen as Vice President, and Tori Richter as Treasurer at its annual meeting.
• Mike Jansen resigned from the board effective November 2017, due to his firm’s joint proposal to the board (and its initial acceptance) for a hazardous materials assessment contract at the Flexsteel site.

General Highlights

• DI website was created, as well as a gmail account to receive inquiries.
• Conflict of Interest Policy was drafted; acknowledgment signed by all members.
• Dubuque Industrial Center covenants were extended for another 21 years.

Roshek Building

• Roshek debt was refinanced with a mortgage on building used as collateral.
• Roshek Building website was created.
• RSM/McGladrey began operations in the building.
• New property management agreement signed with Gronen Properties.
• Manna Java’s lease expired. Space remained vacant remainder of 2017.
• Loitering/Code of Conduct policy enacted.
• Diamond Healthcare signed another one-year lease on Mezzanine.
• Heartland signed a lease for office space on 4th floor.

Annual Audit

• Honkamp Krueger delivered a clean, unmodified opinion for the 2016 audit.

Flexsteel

• Signed agreement with Flexsteel and City to acquire, mitigate environmental concerns, and redevelop the old Flexsteel site at 3400 Jackson Street.
• Signed agreement with City for expanded staffing services, to include engineering staff to advise on this project.
• Escrow account in place, funded by Flexsteel, from which DI can draw down expenses for the redevelopment project.
• Ad hoc committees met several times to coordinate details with Flexsteel representatives, and to review proposals on the two contracts already let (hazardous substance assessment and construction manager).

Outlook for 2018-2020

As the Board looks forward, we can anticipate a number of new challenges and opportunities:

• Flexsteel – multiple contracts will be signed in 2018 for the environmental and construction work to take place on the Jackson Street site. City staff will continue to advise and assist in the development, coordination, and monitoring of contract obligations.
• Roshek Building – continued monitoring of building management and leases.
• Schmitt Island – possible facilitation of public and private groups working together to develop the island for the greater good. Help identify projects that will benefit the community.
• Central Avenue Corridor – possible facilitation of partnerships (i.e. City, True North, etc.) to create visible examples of success for others to emulate.