Public Hearing on Approving a Development Agreement with Iowa Development Group, Inc., Including Annual Appropriation Tax Increment Payments — G.1

AGENDA ITEM # G-1, I-1 AGENDA INFORMATION TIFFIN CITY COUNCIL COMMUNICATION DATE: March 13, 2026 AGENDA ITEM: Resolution 2026-017 - A Resolution Approving Development Agreement with Iowa Development Group, Inc., Authorizing Annual Appropriation Tax Increment Payments and Pledging Certain Tax Increment Revenues to the Payment of the Agreement ACTION: Motion Purpose To hold the scheduled public hearing on the proposed Development Agreement between the City of Tiffin and Iowa Development Group, Inc., and to consider approval of the associated resolution authorizing annual appropriation of tax increment payments. Background Iowa Development Group, Inc. intends to construct a new medical clinic facility within the Tiffin Urban Renewal Area, specifically on property identified as Johnson County Parcel No. 0627326008. The City has prepared a Development Agreement under the authority of Chapters 403 (Urban Renewal/TIF) and 15A (economic development purposes) of the Code of Iowa. The Urban Renewal Plan and tax increment ordinance governing the area already allow for use of TIF for qualified projects. The Agreement supports construction of the clinic by providing annual appropriation TIF payments to the Developer in an amount not to exceed $400,000, reimbursing eligible development expenses. A legal notice of the public hearing was published as required. This meeting is the time and place for receiving any oral or written objections. Following the hearing, the Council may consider action on the approval resolution. Recommendation Staff recommends closing the public hearing and approving the resolution authorizing the Development Agreement with Iowa Development Group, Inc., enabling this medical clinic project to proceed and supporting community economic development goals. ATTACHMENTS: Resolution, Development Agreement 1