Discussion of Proposed 2026 Tiffin Commercial Urban Renewal Area/Urban Renewal Plan

Tiffin/436989-56/UR Plan CITY OF TIFFIN, IOWA URBAN RENEWAL PLAN 2026 TIFFIN COMMERCIAL URBAN RENEWAL AREA December, 2026 I. INTRODUCTION Chapter 403 of the Code of Iowa authorizes cities to establish areas within their boundaries known as “urban renewal areas,” and to exercise special powers within these areas. Urban renewal powers were initially provided to cities in order that conditions of blight and of deterioration within cities might be brought under control. Gradually, urban renewal has been found to be a useful tool, as well, for economic development in previously undeveloped areas and for retention of enterprises and jobs in other areas. In order to facilitate the use of urban renewal for economic development, in 1985, the Iowa General Assembly amended Chapter 403 to authorize City Councils to create “economic development” areas. An economic development urban renewal area may be any area of a city which has been designated by the City Council as an area which is appropriate for commercial, industrial and/or residential housing enterprises and in which the city seeks to encourage further development. As an additional expression of the role for local governments in private economic development, the General Assembly also enacted Chapter 15A of the Code of Iowa, which declares that economic development is a “public purpose” and authorizes local governments to make grants, loans, guarantees, tax incentives and other financial assistance to private enterprise. The statute defines “economic development” as including public investment involving the creation of new jobs and income or the retention of existing jobs and income that would otherwise be lost. The process by which an economic development urban renewal area may be created begins with a finding by the City Council that such an area needs to be established within the City. An urban renewal plan is then prepared for the area, which must be consistent with the City’s existing general plan for the development of the City. All other affected taxing entities must be notified and given an opportunity to comment on the plan. The City Council must hold a public hearing on the urban renewal plan, following which, the Council may approve the plan. This document is intended to serve as the Urban Renewal Plan for the 2026 Tiffin Commercial Urban Renewal Area (the “Urban Renewal Area”) of the City of Tiffin, Iowa (the “City”) and will guide the City in promoting economic growth through the encouragement of residential, commercial and industrial development in such area as detailed herein. This document is an Urban Renewal Plan within the meaning of Chapter 403 of the Code of Iowa and sets out proposed projects and activities within the Urban Renewal Area. -1- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA