Resolution No. 2025-071 – A Resolution Approving Amendment to the Developer’s Agreements for Prairie Village

AMENDMENT TO DEVELOPER’S AGREEMENTS PRAIRIE VILLAGE This Amendment (the “Amendment”) is made as of the ___ day of July, 2025 (the “Effective Date”), by and among the City of Tiffin, Iowa, a municipal corporation (the “City”), and Iowa Development Group, Inc., an Iowa corporation, and TPV Commercial, LLC, an Iowa limited liability company (collectively, “Developer”). WITNESSETH: WHEREAS, the City and Developer are parties to three Developer’s Agreements recorded in Book 5817, Page 956 (“2018 Agreement”), Book 6429 Page 361 (“2022 Agreement”), and Book 6528, Page 28 (“2023 Agreement”); all of the records of the Johnson County, Iowa Recorder (collectively, “Agreements”); and WHEREAS, the Developer owns the real estate subject to such Agreements. WHEREAS, the City and Developer desire to amend the Agreements as contained herein. NOW THEREFORE, in consideration of the mutual covenants and agreements set forth herein, and other valuable consideration the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: 1. The last sentence of Section 3(C)(4) of the 2018 Agreement is deleted in its entirety. 2. The following of Section 6 of the 2018 Agreement is deleted: “Phase 2 will involve the development of Lot 3 (“Phase 2”). Phase 2 development will not commence until a traffic study has been done to determine the need for a traffic light or other street modifications at the corner of Highway 6 and what will be N. Kimberlite Street. Developer is not required to construct N. Kimberlite Street, and the adjoining sidewalks as a condition of a final plat approval for Phase 1. All public improvement associated with N. Kimberlite Street, the adjoining sidewalks, and the intersection of Highway 6 and N. Kimberlite St. will be done in conjunction with Phase 2. The final plat for Phase 2 shall include, at a minimum: 1. The installation of the intersection of State Street and North Kimberlite Street and N. Kimberlite Street. 2. The City and the Developer may enter into a separate Development Agreement for Lot 3, which may provide the Developer with certain development incentives. 3. The City and the Developer shall coordinate the installation of a traffic light, turn lane