Public Hearing on the Proposed November, 2025 Amendment to the Tiffin Urban Renewal Area

Tiffin/436989-51/UR Plan Amend B. Name of Project: Dollar General Development Project Date of Council Approval of Project: November 4, 2025 Description of the Project and Project Site: A private developer (the “Developer”) has proposed to undertake the construction of a Dollar General Store (the “Project”) on certain real property (the “Dollar General Property”) situated at 1300 Tall Grass Avenue in the Urban Renewal Area. It has been requested that the City provide tax increment financing assistance to the Company in support of the efforts to complete, operate and maintain the Project. The costs incurred by the City in providing tax increment financing assistance to the Company will include legal and administrative fees (the “Admin Fees”) in an amount not to exceed $8,000. Description of Use of TIF for the Project: The City intends to enter into a Development Agreement with the Company with respect to the construction of the Project and to provide an economic development grant (the “Grant”) to the Company thereunder. The Grant will be funded with either borrowed funds and/or an internal advance of funds on-hand. In any case, the City’s obligations (the “Obligations”) entered into to fund the Grant may be repaid with incremental property tax revenues to be derived from the Dollar General Property. It is anticipated that the City’s total commitment of incremental property tax revenues with respect to the funding of the Grant will not exceed $100,000 plus the Admin Fees and any interest expense incurred by the City on the Obligations. C. Name of Project: Medical Clinic Development Project Date of Council Approval of the Project: November 4, 2025 Description of the Project and Project Site: Iowa Development Group, Inc. (the “Corporation”) has proposed to undertake the construction of a new building (the “Clinic Project”) on certain real property (the “Clinic Property”) bearing Johnson County Property Tax Parcel Identification Number 0627326008 in the Urban Renewal Area for use in the business operations of a University of Iowa medical clinic. It has been requested that the City provide tax increment financing assistance to the Corporation in support of the efforts to complete the Clinic Project. The costs incurred by the City in providing tax increment financing assistance to the Corporation will include legal and administrative fees (the “Admin Fees”) in an amount not to exceed $8,000. -2- 4916-4560-1900\2