NOTICE OF PUBLIC HEARING OF THE CITY COUNCIL OF THE CITY OF BOONE IN THE STATE OF IOWA, ON THE MATTER OF THE PROPOSAL TO ENTER INTO A DEVELOPMENT AGREEMENT WITH HUNZIKER DEVELOPMENT GROUP, LLC, AND THE HEARING THEREON

NOTICE OF PUBLIC HEARING OF THE CITY COUNCIL OF THE CITY OF BOONE IN THE STATE OF IOWA, ON THE MATTER OF THE PROPOSAL TO ENTER INTO A DEVELOPMENT AGREEMENT WITH HUNZIKER DEVELOPMENT GROUP, LLC, AND THE HEARING THEREON PUBLIC NOTICE is hereby given that the Council of the City of Boone in the State of Iowa, will hold a public hearing on July 6, 2026, at 6:00 P.M. in the Council Chambers, City Hall, 923 8th Street, Boone, Iowa, at which meeting the Council proposes to take action on the proposal to enter into a Development Agreement (the "Agreement") with Hunziker Development Group, LLC (the "Developer"). The Agreement would obligate the Developer to construct certain Minimum Improvements (as defined in the Agreement) including at least 13 Housing Units and certain Public Improvements to serve the Housing Units, on certain real property located within the East Central Housing Urban Renewal Area, as defined and legally described in the Agreement (the "Development Property"), and related site improvements to be completed by Developer and dedicated to the City. The Agreement would further obligate the City to make up to ten (10) annual payments of Economic Development Grants to Developer using 67% of the Tax Increment generated by the construction of the Housing Units and annually collected pursuant to Iowa Code Section 403.19, under the terms of the Agreement. The maximum aggregate amount of the Economic Development Grants that may be paid to the Developer under the Agreement shall not exceed the lesser of: (i) the amount of available Tax Increments under the terms set forth in the Agreement; (ii) $410,360; or (iii) 50% of the aggregate amount of the Qualified Costs and Expenses submitted to the City as a part of Developer's completion of the Public Improvements. 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 Boone, 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 Boone in the State of Iowa, as provided by Section 364.6, Code of Iowa. Dated this 25th day of June, 2026. City Clerk, City of Boone in the State of Iowa June 25 2026 LIOW0538168