Resolutions-2015-046

Tiffin/ 436898- 12/ Set Date Dev Agmt AA NOTICE OF MEETING FOR APPROVAL OF DEVELOPMENT AGREEMENT WITH BIG COUNTRY SEEDS AND AUTHORIZATION OF ANNUAL APPROPRIATION TAX INCREMENT PAYMENTS The City Council of the City of Tiffin, Iowa, will meet at the Tiffin City Hall Council Chambers, on April 22, 2015, at seven o' clock p. m., at which time and place proceedings will be instituted and action' taken to approve a Development. Agreement between the City and Big Country Seeds ( the " Company"), in connection with the expansion of the Company' s warehousing facilities- in' the, Urban- Renewal Area, which Agreement provides for certain financial incentives to the Company in the form of annual appropriation incremental property tax payments in a total amount not exceeding $ 101, 636. 00 , as authorized by Section 403. 9 of the Code of Iowa. The Agreement to make incremental property tax payments to the Company will not be a general obligation of the City, but will be payable solely and only from incremental property tax revenues generated within the Tiffin Urban Renewal- Area. Some or all of the payments under the Development Agreement may be made subject to annual appropriation by the City Council. At the meeting, the City Council will receive oral or written objections from any resident or property owner of the City. Thereafter, the Council may, at the meeting or at an adjournment thereof, take additional action to approve the Development, Agreement or may abandon the proposal. This notice is given by order of the City Council of Tiffin, Iowa, in accordance with Section 403. 9 of the Code of Iowa. Tim Long Interim City Clerk 1 J i 3- DORSEY& WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA