NOTICE OF MEETING FOR APPROVAL OF DEVELOPMENT AGREEMENT WITH THE CROSSING AT PLEASANT HILL, LLC AND AUTHORIZATION OF ANNUAL APPROPRIATION TAX INCREMENT PAYMENTS

The City Council of the City of Pleasant Hill, Iowa, will meet at the City Hall Council Chambers, on November 28, 2023, at 6:00 p.m., at which time and place proceedings will be instituted and action taken to approve a Development Agreement between the City and The Crossing at Pleasant Hill, LLC (the “Developer”) in connection with the construction of public infrastructure necessary to support the development of a commercial building for use in the business operations of a restaurant in the Pleasant Hill Urban Renewal Area, which Development Agreement provides for certain financial incentives in the form of incremental property tax payments to the Developer in a total amount not exceeding $1,000,000 as authorized by Section 403.9 of the Code of Iowa.

The commitment of the City to make incremental property tax payments to the Developer under the Development 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 Pleasant Hill 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 Pleasant Hill, Iowa, in accordance with Section 403.9 of the Code of Iowa.

Dena Spooner
City Clerk