The City of Dubuque, Iowa has proposed tax incentives for the development of a property located at 1000 Jackson Street in the Historic Millwork District by Dupaco Community Credit Union.
Under the proposed agreement, the credit union will make a $38 million capital investment in the 82,800 square foot facility, which will serve as the credit union's headquarters.
The credit union will occupy the top three floors of the building and prepare the rest of the building for commercial tenants.
Dupaco Community Credit Union will retain its current 150 employees in Dubuque and add at least 40 full-time employees employees to its Dubuque operations by October 1, 2023.
As part of the agreement, the city will provide an Urban Renewal Tax Increment Revenue Obligation for 15 years of Tax Increment Financing rebates of property tax increases, which is not expected to exceed $2 million.
The credit union is also requesting state incentives for the project.
A hearing on the project is scheduled for January 22, 2019.
Read the documents.
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