NOTICE OF PUBLIC HEARING TO CONSIDER APPROVAL OF A PROPOSED AMENDMENT NO. 10 TO THE DALLAS CENTER URBAN RENEWAL PLAN FOR AN URBAN RENEWAL AREA IN THE CITY OF DALLAS CENTER, STATE OF IOWA

NOTICE OF PUBLIC HEARING TO CONSIDER APPROVAL OF A PROPOSED AMENDMENT NO. 10 TO THE DALLAS CENTER URBAN RENEWAL PLAN FOR AN URBAN RENEWAL AREA IN THE CITY OF DALLAS CENTER, STATE OF IOWA The City Council of the City of Dallas Center, State of Iowa, will hold a public hearing before itself at its meeting which commences at 7:00 P.M. on November 18, 2025, in the Council Chambers (in Memorial Hall above City Hall), 1502 Walnut Street, Dallas Center, Iowa, to consider adoption of a proposed Amendment No. 10 to the Dallas Center Urban Renewal Plan (the "Amendment") concerning an Urban Renewal Area in the City of Dallas Center, State of Iowa, which amendment adds the following property to the Urban Renewal Area: Beginning at the point of intersection of the south right-of-way line of Walnut Street and the west right-of-way line of 11th Street, thence south along the west right-of-way line of 11th Street to the point of intersection of the south right-of-way line of Sycamore Street and the west right-of-way line of 10th Street, thence west along the south right-of-way line of Sycamore Street to the point of intersection of the south right-of-way line of Sycamore Street and the west right-of-way line of 14th Street, thence north along the west right-of-way line of 14th Street to the point of intersection with the south right-of-way line of Walnut Street, thence east along the south right-of-way line of Walnut Street to the Point of Beginning. All of which is located in Dallas County, Iowa. The Amendment identifies certain improvement projects for which the City of Dallas Center intends to utilize tax increment financing to pay some or all of the costs, namely: Five projects in an integrated program referred to as the "Walnut Walk". The intent of the following five projects is to stimulate economic activity in the Central Business District with a combination of improving access for local residents as well as increasing the number of out of town residents drawn to the City of Dallas Center: a. Renovations of participating buildings along the Walnut Street corridor as part of the anticipated CDBG Downtown Revitalization project. The total estimated cost for the building renovation projects is $1,300,000. b. Construction of a traffic circle and associated improvements located at the intersection of Walnut Street and 15th Street. The estimated cost for the project is $125,000. c. Painting and lighting of a mural to be located on the Heartland Coop elevator facility located on the south side of Walnut Street. The estimated cost for the project is $600,000. d. Sidewalk and tree improvements along the Walnut Street corridor from west of 15th Street to 10th Street. The estimated cost for the project is $100,000. e. Extension of Walnut Street from 10th Street to Fairview Drive and construction of parking for memorial park. The estimated cost for the project is $525,000. The maximum tax increment financing that will be utilized for the five Walnut Walk projects will not exceed the aggregate of $1,000,000. The final project added as part of this Amendment is the inclusion of the annual funding of costs associated with economic development activities in the Area. To encourage, develop and sustain economic development it is necessary for the City to designate staff resources. The primary economic development responsibility in the City rests with the City Administrator. This amendment would provide for up to 25% of the salary and benefit cost of the City Administrator to be funded annually through Tax Increment Financing. This percentage is less than the percentage of time the City Administrator is expected to dedicate to economic development activities in the Area. The Tax Increment Financing under this amendment would not exceed the lesser of: (i) the percentage of the City Administrator's working time spent on economic development activities in the Area multiplied by the City Administrator's salary and benefit cost; (ii) 25% of the City Administrator's salary and benefit cost; or (iii) $50,000 per year. The City may also certify up to $50,000 for costs related to planning, engineering, attorneys' fees and other costs in connection with adopting this Amendment and administering the Plan, as amended. A copy of the Amendment is on file for public inspection in the office of the City Clerk, City Hall, City of Dallas Center, Iowa. The City of Dallas Center, State of Iowa is the local public agency which, if such Amendment is approved, shall undertake the urban renewal activities described in such Amendment. The general scope of the urban renewal activities under consideration in the Amendment is to promote the growth and retention of qualified industries and businesses in the Urban Renewal Area through various public purpose and special financing activities outlined in the Amendment. The City also may reimburse or directly undertake the installation, construction and reconstruction of substantial public improvements, including, but not limited to, street, water, sanitary sewer, storm sewer or other public improvements. To accomplish the objectives of the Plan, and to encourage the further economic development of the Urban Renewal Area, the Plan provides that such special financing activities may include, but not be limited to, the making of loans or grants of public funds to private entities under Chapter 15A of the Code of Iowa. The Plan provides that the City may issue bonds or use available funds for purposes allowed by the Plan, as amended, and that tax increment reimbursement of the costs of urban renewal projects may be sought if and to the extent incurred by the City. The Amendment provides that the Plan, as amended, may be amended from time to time. Any person or organization desiring to be heard shall be afforded an opportunity to be heard at such hearing. This notice is given by order of the City Council of the City of Dallas Center, State of Iowa, as provided by Section 403.5 of the Code of Iowa. Dated this 28th day of October, 2025. Shellie Schaben, City Clerk November 6 2025 LIOW0398805