2020 Project Updates
We represented Steve Launspach, Jason Germaine, AJ Becker, Ryan Becker and Pete Ludwig, and their entity Offshore Enterprises, LLC, in the acquisition of a beautiful 45 acres on the Mississippi River in Bellevue, Iowa. The property as acquired includes a hotel, event center, campground sites and a bar/restaurant. This acquisition included interesting title issues related to access to the Mississippi River and ownership related to such access. In addition, we continue to represent the developers in an innovative public/private partnership with the city of Bellevue in the potential development of an aquatics center to be used by both guests of the Offshore development and citizens of the city. The project will include a revamped restaurant, expanded campgrounds and an expanded bar/pool area. This project, expected to include an investment of approximately $10 million, is yet another development by a group that is becoming the area leaders in innovative and successful recreational developments. We are proud to be associated with this group of hardworking and fun loving developers.
2019 Project Updates
Field of Dreams Movie Site™
We represent Go the Distance Baseball, LLC, the owner of the Field of Dreams Movie Site™. We are proud and excited that our representation included representing Go the Distance in negotiations with Major League Baseball that resulted in an agreement to play a major league game at the field between the New York Yankees and the Chicago White Sox on August 13, 2020. Our representation included direct negotiations with Major League Baseball's General Counsel's office and finalization of the contract that will bring these two historic franchises to Iowa's iconic field.
Dupaco Community Credit Union
Dubuque's Historic Millwork District took a decisive and important step forward in 2019 when Dupaco Community Credit Union completed an exhaustive search and agreed to acquire the, 183,000 square feet historic "Voices Building" at 1000 Jackson St. We are honored to have worked with this powerhouse hometown financial cooperative to identify and resolve a myriad of title matters related to acquisition of the building and to negotiate a final Development Agreement with the city of Dubuque. We were then pleased to work with Dupaco to assist in structuring and finalizing a $38.5 million financing package, including state and historic tax credits and New Market Tax Credits.
This package will assist Dupaco in developing the 5-story brick manufacturing and warehouse building into an operations center for the fast growing cooperative. Congratulations to Dupaco Community Credit Union and its President, Joe Hearn, and Board, for having the vision and execution to complete this game changing development.
2019 brought much needed development to Dubuque's North End. This area, long known for its working class residences and gritty buildings, is a key focal point of the city of Dubuque's drive to breathe new development into its older districts. Metx, LLC, owned by Mel Sisler, Kelly Jackson, Gary Carner and Gary Stelplug, acquired the 56,000 square foot former Metz Baking Company building with the desire to rehabilitate the historic structure into a medical campus. We represent the group in the acquisition of the building, negotiation of a Development Agreement with the city of Dubuque, and negotiation of a financing package consisting of state and federal historic tax credits, tax increment financing and local bank lending to complete the $9.5 million transformation. The building is the new home of Crescent Community Health Center and will soon house additional medical centers, including a pharmacy and physical therapist practice. Congratulations to the developers on creating a project that brings great benefits to the city as a whole and to the residents of Dubuque's north end-and that will serve as a further catalyst to development in the area.
2018 Project Updates
St. Mary's Church
When St. Mary's Church, a beacon of community and church activity in downtown Dubuque since 1867, closed, the St. Mary's campus (consisting of the church, old school buildig and convent) was at risk of serious deterioration. The school had been vacant for years and the venerable church building was showing its age. The buildings and grounds occupy nearly a city block of Dubuque's vulnerable downtown/north end. Determined to avoid a long and slow deterioration of the beautiful but aged structures, community leaders formed Friends of St. Mary's and set out to reimagine the campus into a community events center, office space for commuity non-profits and new apartment units.
We have represented Friends of St. Mary's from the planning stages, including acquisition of the property, development agreements, historic tax credit transactions and completion of Phase I of this multi-phase project. This initial phase converted the old school building into twelve apartments in a $4.55 million project involving state and federal historic credits, donated funds, grants and other sources of funds. We look forward to continuing our relationship with Friends of St. Mary's and completing rehabilitation of the entire St. Mary's campus.
Linseed Oil Building
The McNamara family, one of Dubuque's pioneers in rehabilitation of historic buildings, has added another fantastic project to its resume. The former Linseed Oil Building in Dubuque's Millwork District was converted to sixteen beautiful aprtements in a $5.5 million rehabilitation supported by state and federal historic tax credits. We are pleased to have continued our long relationship with the McNamara family and to have represented them in each aspect of this project.
In May of 2017 the city of Dubuque faced the possibility of the loss of a long term corporate icon, Flexsteel Industries, and the more than 200 quality jobs provided to the community by the publically traded company. Through the efforts of the City of Dubuque, Dubuque Initiatives, Greater Dubuque Development Corp., Dubuque County and the company, a complex multi-transaction structure was negotiated and implemented. The result of these transactions will be the retention of Flexsteel's manufacturing operations in a brand new facility in one of Dubuue's growing industrial parks and the clean up of Flexsteel's environmentally contaminated old manufacturing site. We are proud to represent Dubuque Initiatives in this landmark project.
Dubuque Area Convention and Visitors Bureau
We are pleased to assist the Dubuque Area Convention and Visitors Bureau as it transitions to a free standing entity and acquires it's own facility. The CVB and its President, Keith Rahe, promote the City of Dubuque and the surrounding area to visitors from around the country and the world.
Previous Project Updates
Go the Distance Baseball, LLC
We are honored to represent Go the Distance Baseball, LLC and lead developers Denise and Mike Stillman in the acquisition and proposed development of the Field of Dreams Movie Site. The thirty-seven million dollar project will both preserve the original Movie Site and include construction of fields and other facilities for youth baseball and softball, sports training and tourism.
The Roshek Building
We are proud to have represented Dubuque Initiatives in connection with the rehabilitation and leasing of the historic Roshek Building in downtown Dubuque.
This project, one of the most ambitious and complicated endeavors in Dubuque’s long commercial history, involved the interior and exterior historic renovation of the city block long Roshek Building.
This transaction involved structuring of state and federal historic tax credits, New Market Tax Credits and a number of equity and loan sources including a consortium of local lenders into a $47.5 million downtown jewel. The renovated Roshek Building, the home to an International Business Machines’ (IBM) service center and other prominent businesses and restaurants, stands as a testament toDubuque’s history and its commitment to a future that preserves that history.
Envision Motor Company
Envision is a revolutionary company that owns the technology, manufacturing and distribution rights for development of the first family of high-speed, 100% electric vehicles. We represent Envision in connection with not only its corporate structure but also have drafted and negotiated, on behalf of the company, a myriad of supply, distribution and other contracts, including international agreements.
AltEnergy Advisers, Inc.
AltEnergy Advisers acts as a consultant and facilitator in the alternative energy field. Our work for AltEnergy includes the negotiation of agreements related to acquisition and sale of alternative energy technologies. Transactions are domestic and international and include electric vehicles, hydrogen assist technology, and new processes for electricity generation.
German Bank Building (John and Mary Gronen/Mike Steele)
This project involved rehabilitation of the venerable German Bank Building in downtown Dubuque. One of the most recognizable buildings in the city, the German Bank Building originally housed one of Iowa’s earliest banks and has a colorful history and instantly recognizable façade. This project, driven by John and Mary Gronen, utilized a mix of funding sources and saved this beautiful structure following damage caused by nearby construction and a substantial fire. This beautiful building now houses The Bank Bar and Grille and two large apartments.