Notice of Meeting for Approval of Development Agreement with Mid-States Material Handling & Fabrication, Inc. and Authorization of Annual Appropriation Tax Increment Payments

Notice of Meeting for Approval of Development Agreement with Mid-States Material Handling & Fabrication, Inc. and Authorization of Annual Appropriation Tax Increment Payments The City Council of the City of Nevada, Iowa, will meet at the City Hall, in the City, on December 8, 2025, 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 Mid-States Material Handling & Fabrication, Inc. (the "Company") in connection with the expansion by the Company of its manufacturing facilities in the Nevada Urban Renewal Area, which Development Agreement provides for certain financial incentives in the form of incremental property tax payments to the Company in a total amount not exceeding $300,000 as authorized by Section 403.9 of the Code of Iowa. The commitment to make incremental property tax payments to the Company 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 Nevada 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 Nevada, Iowa, in accordance with Section 403.9 of the Code of Iowa. Kerin Wright, City Clerk December 4 2025 LIOW0415870