Public Hearing

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NOTICE OF MEETING FOR APPROVAL OF DEVELOPMENT AGREEMENT WITH GLENWOOD EQUITIES, LLCAND AUTHORIZATION OF ANNUAL APPROPRIATION TAX INCREMENT PAYMENTS

The City Council of the City of Wyoming, Iowa, will meet at the City Hall, on March 9, 2020, at 7 o’clock p.m., at which time and place proceedings will be instituted and action taken to approve a Development Agreement between the City and Glenwood Equities, LLC (the “Company”) in connection withthe construction of a Dollar General Store on certain real property in the Wyoming Urban Renewal Area, which Development Agreement provides for certain financial incentives in the form of incremental property tax payments (the “Payments”) to the Company in a total amount not exceeding $250,000 as authorized by Section 403.9 of the Code of Iowa.

The agreement to make the Payments to the Company will not be a general obligation of the City, but will be payable solely and only from incremental property tax revenues generated within the Wyoming 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 Wyoming, Iowa, in accordance with Section 403.9 of the Code of Iowa.

Sheri Tjaden
City Clerk