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Home My Public Portal AboutResolutions-2022-071Tiffin/436989-16/Set Date Amend Dev Agmt AA SET DATE FOR HEARING ON AMENDED DEVELOPMENT AGREEMENT (DERS Development, LLC) 436989-16 Tiffin, Iowa August 16, 2022 A meeting of the City Council of the City of Tiffin, Iowa, was held at 7 o'clock p.m., on August 16, 2022, at the City Hall Council Chambers in the City, pursuant to the rules of the Council. The Mayor presided and the roll was called, showing members present and absent as follows: Present: Havens, Orris, Olney, Schnedler, Limkemann. Absent: None. Council Member Limkemann introduced the resolution next hereinafter set out and moved its adoption, seconded by Council Member Schnedler; and after due consideration thereof by the City Council, the Mayor put the question upon the adoption of said resolution, and the roll being called, the following named Council Members voted: Ayes: Orris, Schnedler, Limkemann, Havens, Olney. Nays: None. Whereupon, the Mayor declared said resolution duly adopted, as follows: -1- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Tiffin/436989-16/Set Date Amend Dev Agmt AA RESOLUTION NO. 2022-071 Resolution Setting a Date of September 6, 2022, at which it is Proposed to Approve an Amended Development Agreement with DERS Development, LLC, Including Annual Appropriation Tax Increment Payments WHEREAS, the City of Tiffin, Iowa (the "City"), pursuant to and in strict compliance with all laws applicable to the City, and in particular the provisions of Chapter 403 of the Code of Iowa, has adopted an Urban Renewal Plan for the Tiffin Urban Renewal Area (the "Urban Renewal Area"); and WHEREAS, this City Council has adopted an ordinance providing for the division of taxes levied on taxable property in the Urban Renewal Area pursuant to Section 403.19 of the Code of Iowa and establishing the fund referred to in Subsection 2 of Section 403.19 of the Code of Iowa, which fund and the portion of taxes referred to in that subsection may be irrevocably pledged by the City for the payment of the principal of and interest on indebtedness incurred under the authority of Section 403.9 of the Code of Iowa to finance or refinance in whole or in part projects in the Urban Renewal Area; and WHEREAS, the City has previously entered into a certain development agreement (the "Original Agreement") with DERS Development, LLC (the "Developer") and DERS Tiffin, LLC (the "Recipient") in connection with the development by the Developer of the certain real property through the installation of certain public infrastructure improvements (the "Public Infrastructure Project") and the subsequent development of new commercial facilities thereon; and WHEREAS, the City, Developer and the Recipient now propose to amend the Original Agreement in order to increase the amount of incremental property tax payments to be provided to the Recipient from an amount not to exceed $12,000,000 to an amount not to exceed $15,000,000; and WHEREAS, it is necessary to set a date for a public hearing on an amended Development Agreement (the "Amended Agreement") and the proposal to increase the incremental property tax payments thereunder, pursuant to Section 403.9 of the Code of Iowa; NOW THEREFORE, IT IS RESOLVED by the City Council of the City of Tiffin, Iowa, as follows: Section 1. This City Council shall meet at the City Hall Council Chambers Tiffin, Iowa, on September 6, 2022, at 7 o'clock p.m., at which time and place proceedings will be instituted and action taken to approve the Amended Agreement and to authorize the increased annual appropriation incremental property tax payments to the Developer. Section 2. The City Clerk is hereby directed to give notice of the proposed action, the time when and place where said meeting will be held, by publication at least once not less than four (4) days and not more than twenty (20) days before the date of said meeting in a legal newspaper of general circulation in the City. Said notice shall be in substantially the following applicable form: -2- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Tiffin/436989-16/Set Date Amend Dev Agmt AA NOTICE OF MEETING FOR APPROVAL OF AMENDED DEVELOPMENT AGREEMENT WITH DERS DEVELOPMENT, LLC AND DERS TIFFIN, LLC AND AUTHORIZATION OF INCREASED ANNUAL APPROPRIATION TAX INCREMENT PAYMENTS The City Council of the City of Tiffin, Iowa (the "City"), will meet at the City Hall Council Chambers, Tiffin, Iowa, on September 6, 2022, at 7 o'clock p.m., at which time and place proceedings will be instituted and action taken to approve an amended Development Agreement (the "Amended Agreement") between the City and DERS Development, LLC (the "Developer") and DERS Tiffin, LLC (the "Recipient") in connection with the development by the Developer of the certain real property in the Tiffin Urban Renewal Area through the installation of certain public infrastructure improvements (the "Public Infrastructure Project") and the subsequent development of new commercial facilities thereon. The Amended Agreement increases the amount of incremental property tax payments to be provided to the Recipient from an amount not to exceed $12,000,000 to an amount not to exceed $15,000,000. As authorized by Section 403.9 of the Code of Iowa, the commitment to make annual appropriation incremental property tax payments to the Recipient under the Amended Agreement will not be a general obligation of the City, but such payments will be payable solely and only from incremental property tax revenues generated within the Urban Renewal Area. All payments under the Amended 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 Amended 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 -3- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA "Titfiu/436989-16/Set Date Amend Dev Agmt AA Section 3. All resolutions or parts of resolutions in conflict herewith are hereby repealed. Passed and approved August 16, 2022. Mayor On motion and vote the meeting adjourned. Attest: City Clerk Mayor -4- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Tiffin/436989-16/Set Date Amend Dev Agmt AA ATTESTATION AND PUBLICATION CERTIFICATE: STATE OF IOWA JOHNSTON COUNTY CITY OF TIFFIN SS: I, the undersigned, City Clerk of the City of Tiffin, hereby certify that the foregoing is a true and correct copy of the minutes of the City Council of the City relating to the adoption of a resolution to fix a date of meeting at which it is proposed to take action to approve an amended Development Agreement. I do further certify that the notice of hearing, to which the printed slip attached to the publisher's original affidavit hereto attached is a true and complete copy, was published on the date and in the newspaper specified in such affidavit, which newspaper has a general circulation in the City. WITNESS MY HAND this w ay of , 2022. City Clerk (Attach here the publisher's original affidavit with clipping of the notice as published.) (PLEASE NOTE: Do not sign and date this certificate until you have checked a copy of the published notice and have verified that it was published on the date indicated in the publisher's affidavit.) -5- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA OORSEYTM' always ahead August 12, 2022 VIA EMAIL Doug Boldt City Administrator/City Hall Tiffin, Iowa Re: Amended Development Agreement (DERS Development, LLC) Our File No. 419440-61 Dear Doug: Attached please find proceedings to enable the City Council to act on August 16`h to set September 6th as the date for a public hearing on the proposed amendment to the Development Agreement with DERS Development, LLC, including the proposal for increased annual appropriation incremental property tax payments. The notice of public hearing on the amended Development Agreement must be published once, not less than four (4) and not more than twenty (20) days prior to the City Council meeting at which the hearing will be held. The last date on which the notice can effectively be published is September 2, 2022. Please print an extra copy of the notice for delivery to the newspaper. Please insert the time and place of the hearing in both the resolution and the notice and email a copy of the published notice to lemke.susan@dorsey.com. We will prepare and forward to you in time for the September 6th meeting the necessary proceedings to approve the amended Development Agreement. We would appreciate receiving one fully executed copy of these proceedings as soon as they are available. Please contact John Danos, Severie Omgard, or me if you have questions. Kind regards, Amy Bjork Attachments cc: Abigail Hora 8oi Grand Avenue I Suite 4100 I Des Moines, IA 150309-2790 I T 515.283.10001F 515.283.10601 dorsey.com