Notice of Meeting for Approval of Economic Development Support Agreement with Nevada Economic Development Council, Inc.

Notice of Meeting for Approval of Economic Development Support Agreement with Nevada Economic Development Council, Inc. The City Council of the City of Nevada, Iowa, will meet at the City Hall, on November 10, 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 Nevada Economic Development Council, Inc. ("NEDC"), in connection with the provision of services, programs and initiatives for the promotion of economic growth and development in the Nevada Urban Renewal Area, which Agreement provides for certain financial incentives to NEDC in the form of annual appropriation incremental property tax payments in a total amount not exceeding $475,000, as authorized by Section 403.9 of the Code of Iowa. The agreement to make annual appropriation incremental property tax payments to NEDC will not be a general obligation of the City, but will be payable solely and only from incremental property tax revenues generated within the Nevada Urban Renewal Area. Some or all of the payments to NEDC under the Development Agreement will be 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 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 October 30 2025 LIOW0388034