This Urban Renewal Plan for the Thunder Valley Housing Urban Renewal Area ("Plan" or "Urban Renewal Plan") has been developed to help local officials promote economic development in the City of Dubuque ("City"). The primary goal of the Plan is to stimulate, through public involvement and commitment, private investment in new housing and residential development as defined by the Iowa Code Section 403.17(12).

In order to achieve this objective, the City intends to undertake urban renewal activities pursuant to the powers granted to it under Chapter 403 and Chapter 15A of the Code of Iowa, as amended.

The Thunder Valley Housing Urban Renewal Area ("Area" or "Urban Renewal Area") is illustrated in Attachments A, B-1, and B-2 and described in Attachment D.

The City reserves the right to modify the boundaries of the Area at some future date.

With the adoption of this Plan, the City of Dubuque designates this Urban Renewal Area as an economic development area that is appropriate for the provision of public improvements related to housing and residential development.

If the Thunder Valley Housing Urban Renewal Area is legally established and debt is certified prior to December 1, 2027, the taxable valuation within the Urban Renewal Area as of January 1, 2026, will be considered the “base valuation.” If debt is not certified until a later date, the “base value” will be the assessed value of the taxable property in the Urban Renewal Area as of January 1 of the calendar year preceding the calendar year in which the City first certifies the amount of any debt.