Development Agreement Approved For Jackson Street Project

Despite opposition from some area residents, Dubuque City Council members have unanimously approved a development agreement for a project to renovate a former Dubuque manufacturing building into apartments and commercial space. As part of a more-than-$30 million project, Farley & Loetscher LLC plans to turn a building on Jackson Street into more than 120 market-rate apartments and to renovate a neighboring property at the corner of White and East Ninth streets to house commercial and residential space. Under the development agreement, Farley & Loetscher LLC will receive tax-increment financing rebates up to about $2.6 million over a 15-year period. The agreement also includes a $750,000 Downtown Housing Incentive Grant and other grants up to a cumulative $35,000.