Resolutions-2020-055

[NOTICE OF ELECTRONIC HEARING] NOTICE OF MEETING FOR APPROVAL OF DEVELOPMENT AGREEMENT WITH HIGHTOWER DEVELOPMENT, INC. AND AUTHORIZATION OF ANNUAL APPROPRIATION TAX INCREMENT PAYMENTS The City Council of the City of Tiffin, Iowa, will meet on July 7, 2020, at 7:00 o’clock p.m., at which time proceedings will be instituted and action taken to approve a Development Agreement between the City and Hightower Development, Inc. (the “Developer”), in connection with the development of a new industrial park in the Tiffin Urban Renewal Area, including the construction of corresponding public infrastructure, which Agreement provides for certain financial incentives in the form of incremental property tax payments to the Developer in a total amount not exceeding $500,000 as authorized by Section 403.9 of the Code of Iowa. The Agreement to make incremental property tax payments to the Developer 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. Due to federal and state government recommendations in response to COVID-19 pandemic conditions, the meeting will be held electronically via Microsoft Teams, which will be accessible at the following: If anyone would like to make a comment or address the City Council but is unable to attend the Council Meeting, you can do so by telephone by calling 319-545-2572 ext. 0 at 7:00 p.m. In addition to electronic access, written comments may be filed or made prior to the meeting and will be recorded in the minutes. At the meeting, the City Council will receive oral or written objections from any resident or property owner of the City. Thereafter, the City 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. Abigail Hora City Clerk