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Home My Public Portal AboutResolutions-2022-083Tiffin/436989-38/Set Date Dev Agmt AA SET DATE FOR HEARING ON DEVELOPMENT AGREEMENT AND TAX INCREMENT PAYMENTS (Iowa Development Group, Inc.) 436989-38 Tiffin, Iowa October 4, 2022 A meeting of the City Council of the City of Tiffin, Iowa, was held at 7 o'clock p.m., on October 4, 2022, at the City Hall Council Chambers, Tiffin, Iowa, pursuant to the rules of the Council. The Mayor presided and the roll was called, showing members present and absent as follows: Present: Orris Olney, Schnedler, Limkemann, Havens. 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, Olney, Schnedler, Limkemann, Havens. Nays: None. Whereupon, the Mayor declared said resolution duly adopted, as follows: -1- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA 4860-3475-2308\2 Tiffin/436989-38/Set Date Dev Agmt AA RESOLUTION NO. 2022-083 Resolution Setting the Date of October 18, 2022, in which it is Proposed to Approve a Development Agreement with Iowa Development Group, Inc., 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 proposes to enter into a certain development agreement (the "Development Agreement") with Iowa Development Group, Inc. (the "Developer") in connection with the development of a commercial building in the Urban Renewal Area for use in the business operations of a dental clinic; and WHEREAS, the Development Agreement would provide financial incentives to the Developer in the form of annual appropriation incremental property tax payments in an amount not to exceed $55,000 under the authority of Section 403.9(1) of the Code of Iowa; and WHEREAS, it is necessary to set a date for a public hearing on the Development Agreement, 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 on October 18, 2022, at 7:00 o'clock p.m., at the City Hall Council Chambers, in the City, at which time and place proceedings will be instituted and action taken to approve the Development Agreement and to authorize the annual appropriation incremental property tax payments. 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 days and not more than twenty 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 form: -2- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA 4860-3475-2308\2 Tiffin/436989-38/Set Date Dev Agmt AA 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 -3- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA 4860-3475-2308\2 Tiffiu/436989-38%Set Date Dev Agmt AA Section 3. All resolutions or parts of resolutions in conflict herewith are hereby repealed. Section 4. This resolution shall be in full force and effect immediately upon its adoption and approval, as provided by law. Passed and approved October 4, 2022. • • • • On motion and vote the meeting adjourned. Mayor Mayor -4- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA 4860-3475-2308\2 Tiffin/436989-38/Set Date Dev Amt AA STATE OF IOWA. COUNTY OF JOHNSON SS: CITY OF TIFFIN 1, 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 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 a 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 day of I 4 \2 (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. 4860-3475-2308\2 HORSEY" always ahead September 30, 2022 Via Email Doug Boldt City Administrator/City Hall Tiffin, IA Re: Development Agreement (Iowa Development Group, Inc.) Our File No. 436989-38 Dear Doug: Attached please find proceedings to enable the City Council to act on October 4, 2022 to set October 18, 2022 as the date for a public hearing on the proposed Development Agreement with Iowa Development Group, Inc., including the proposal for tax increment payments. The notice of public hearing on the 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 may be effectively published is October 14, 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 omgard.severie@dorsey.com. We will prepare and forward to you in time for the October 18, 2022 meeting the necessary proceedings to approve the Agreement. We would appreciate receiving one fully executed copy of these proceedings as soon as they are available. Please contact John Danos, Erin Regan, Severie Orngard, or me if you have questions. Kind regards, Amy Bjork Attachments cc: Abigail Hora 8oi Grand Avenue I Suite 4100 I Des Moines, IA 150309-27901T 525.283.10001F 515.283.1060 1 dorsey.com