I-2 - Resolution 2024-049 - Approving Second Amended Development Agreement with DERS - The Baltic

WHEREAS, Chapter 15A requires that in determining whether funds should be spent, a City Council must consider any or all of a series of factors; NOW, THEREFORE, It Is Resolved by the City Council of the City of Tiffin, Iowa, as follows: Section 1. Pursuant to the factors listed in Chapter 15A, the Council hereby reaffirms that: (a) The Project will add diversity and generate new opportunities for the Tiffin and Iowa economies; (b) The Project will generate public gains and benefits, particularly in the creation of new jobs and income, which are warranted in comparison to the amount of the proposed property tax incentives. Section 2. The City Council further finds and reaffirms that a public purpose will reasonably be accomplished by entering into the Second Amended Agreement and providing the incremental property tax payments to the Recipient. Section 3. The Second Amended Agreement is hereby approved, and the Mayor and City Clerk are hereby authorized and directed to execute and deliver the Second Amended Agreement on behalf of the City in substantially the form and content in which the Second Amended Agreement has been presented to this City Council. Such officers are also authorized to make such changes, modifications, additions or deletions as they, with the advice of bond counsel, may believe to be necessary, and to take such actions as may be necessary to carry out the provisions of the Second Amended Agreement. Section 4. All resolutions or parts thereof in conflict herewith are hereby repealed. Passed and approved on August 6, 2024. __________________________________________ Mayor Attest: __________________________________________ City Clerk