Packet: Tiffin City Council Regular Meeting (03/03/2026)

ECONOMIC DEVELOPMENT GRANT AGREEMENT This Agreement is entered into between the City of Tiffin, Iowa (the “City”) and DGOGTIFFINIA09052026, LLC (the “Company”) as of the ___ day of ___________________, 2026 (the “Commencement Date”). WHEREAS, the Company owns certain real property situated at 1300 Tall Grass Avenue in the City (the “Property”); and WHEREAS, the Company has proposed to undertake the construction of new commercial building (the “Project”) for use in the business operations of a Dollar General on the Property; and WHEREAS, the Company has requested that the City provide financial assistance in the form of an economic development grant (the “Grant”) to be used by the Company to pay the costs of constructing the Project; and WHEREAS, Chapter 15A of the Code of Iowa authorizes cities to provide grants, loans, guarantees, tax incentives and other financial assistance to or for the benefit of private persons; NOW THEREFORE, the parties hereto agree as follows: A. Company’s Covenants 1. Project Construction; Project Maintenance. Project The Company agrees to construct the Project on the Property. The Company agrees to submit a detailed site plan (the “Site Plan”) for the development of the Project to the City for review and approval. Upon approval by the City, the Site Plan shall be attached hereto as Exhibit A. The Company agrees to construct the Project in accordance with the Site Plan and in full compliance with local zoning, land use, building and safety codes and regulations. The Company shall complete the construction of the Project by December 31, 2026. Business Operations Requirement The Company agrees to maintain ownership of the Project and to ensure that the completed Project is used in the business operations of a Dollar General for at least one (1) year after the completion of the Project (the “Business Operations Requirement”). Maintenance of Property Further, throughout the Term (as hereinafter defined) of this Agreement, the Company agrees to maintain, preserve, and keep the Property, including but not limited to the Project, useful and in good repair and working order, ordinary wear and tear excepted, and from time to time will make all necessary repairs, replacements, renewals, and additions. The Company agrees to -1- 4934-1480-3346\2