NOTICE OF PUBLIC HEARING OF THE CITY COUNCIL OF THE CITY OF WAUKEE IN THE STATE OF IOWA, ON THE MATTER OF THE PROPOSAL TO ENTER INTO A DEVELOPMENT AGREEMENT WITH KETTLESTONE LAKES, LLC AND AP GPP, L.C., AND THE HEARING THEREON

NOTICE OF PUBLIC HEARING OF THE CITY COUNCIL OF THE CITY OF WAUKEE IN THE STATE OF IOWA, ON THE MATTER OF THE PROPOSAL TO ENTER INTO A DEVELOPMENT AGREEMENT WITH KETTLESTONE LAKES, LLC AND AP GPP, L.C., AND THE HEARING THEREON PUBLIC NOTICE is hereby given that the Council of the City of Waukee in the State of Iowa, will hold a public hearing on November 3, 2025, at 5:30 P.M. in the Council Chambers, City Hall, 230 West Hickman Road, Waukee, Iowa, at which meeting the Council proposes to take action on the proposal to enter into a Development Agreement (the "Agreement") with Kettlestone Lakes, LLC (the "Kettlestone Developer") and AP GPP, L.C. (the "AP Developer"), collectively the "Developers". The Agreement would obligate the Developers to construct certain Kettlestone Minimum Improvements, AP Minimum Improvements, and Infrastructure Improvements (as those terms are defined in the Agreement) on certain real property located within the Kettlestone Lakes District One Urban Renewal Area as defined and legally described in the Agreement, under the terms and following satisfaction of the conditions set forth in the Agreement. The Agreement requires Developers to use commercially reasonable efforts to attract commercial businesses employing individuals in their operations to locate their business operations within the Kettlestone Minimum Improvements and the AP Minimum Improvements. The Agreement would further obligate the City to make up to twelve (12) consecutive annual payments of Kettlestone Economic Development Grants to Kettlestone Developer consisting of 50% of the Kettlestone Tax Increments pursuant to Section 403.19, Code of Iowa, and generated by the construction of the Kettlestone Minimum Improvements, the cumulative total for all such payments not to exceed the lesser of $7,850,000, the amount Kettlestone Developer contributes to the Infrastructure Improvements, or the amount accrued under the formula outlined in the proposed Agreement, under the terms and following satisfaction of the conditions set forth in the Agreement. The Agreement also obligates the City to make up to twelve (12) consecutive annual payments of AP Economic Development Grants to Developer consisting of 50% of the AP Tax Increments pursuant to Section 403.19, Code of Iowa, and generated by the construction of the AP Minimum Improvements, the cumulative total for all such payments not to exceed the lesser of $2,150,000, the amount AP Developer contributes to the Infrastructure Improvements, or the amount accrued under the formula outlined in the proposed Agreement, under the terms and following satisfaction of the conditions set forth in the Agreement. A copy of the Agreement is on file for public inspection during regular business hours in the office of the City Clerk, City Hall, City of Waukee, Iowa. At the above meeting the Council shall receive oral or written objections from any resident or property owner of said City, to the proposal to enter into the Agreement with the Developer. After all objections have been received and considered, the Council will at this meeting or at any adjournment thereof, take additional action on the proposal or will abandon the proposal to authorize said Agreement. This notice is given by order of the City Council of the City of Waukee in the State of Iowa, as provided by Section 364.6, Code of Iowa. Dated this 20th day of October, 2025. Rebecca D. Schuett City Clerk, City of Waukee, State of Iowa October 30 2025 LIOW0393921