Resolutions-2016-006

NOTICE OF MEETING FOR APPROVAL OF DEVELOPMENT AGREEMENT WITH TIFFIN DAYCARE 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 February 2, 2016, 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 Iron Clad Partners, LLC (the “Company”), construction of a new daycare facility in the Tiffin Urban Renewal Area, which Agreement provides for certain financial incentives in the form of incremental property tax payments to the Company in a total amount not exceeding $110,000 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. Doug Boldt City Clerk