Resolutions-2022-083

NOTICE OF MEETING FOR APPROVAL OF DEVELOPMENT AGREEMENT WITH IOWA DEVELOPMENT GROUP, INC. AND AUTHORIZATION OF ANNUAL APPROPRIATION TAX INCREMENT PAYMENTS The City Council of the City of Tiffin, Iowa, will meet at the City Hall Council Chambers in Tiffin, on October 18, 2022, at 7 o’clock p.m., at which time and place proceedings will be instituted and action taken to approve a Development Agreement (the “Agreement”) between the City and Iowa Development Group, Inc. (the “Developer”) in connection with the development of a commercial building in the Tiffin Urban Renewal Area for use in the business operations of a dental clinic, which Agreement will provide for certain financial incentives in the form of incremental property tax payments to the Developer in a total amount not exceeding $55,000 as authorized by Section 403.9 of the Code of Iowa. The obligation to make incremental property tax payments to the Developer under the Agreement will not be a general obligation of the City, but such payment 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 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