The City Council of the City of Sanborn, Iowa, will meet at the Sanborn City Hall, on March 11, 2024, at 5 p.m., at which time and place proceedings will be instituted and action taken to approve a Development Agreement between the City and The Cut Meat Market, LLC (the “Meat Market”) in connection with the construction by the Meat Market of a new building for use in the business operations of a meat market in the Sanborn Northeast 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 $25,000 as authorized by Section 403.9 of the Code of Iowa.
The Development Agreement to make incremental property tax payments to the Developer will not be a general obligation of the City, but will be payable solely and only from incremental property tax revenues generated within the Sanborn Northeast 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 Sanborn, Iowa, in accordance with Section 403.9 of the Code of Iowa.
Wendy Reed
City Clerk
Published in the Sanborn Pioneer February 29.