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

NOTICE OF PUBLIC HEARING OF THE CITY COUNCIL OF THE CITY OF JOHNSTON IN THE STATE OF IOWA, ON THE MATTER OF THE PROPOSAL TO ENTER INTO A DEVELOPMENT AGREEMENT WITH OTP, LLC, AND THE HEARING THEREON PUBLIC NOTICE is hereby given that the Council of the City of Johnston in the State of Iowa, will hold a public hearing on October 20, 2025, at 7:00 P.M. in the Council Chambers, City Hall, 6221 Merle Hay Road, Johnston, Iowa, at which meeting the Council proposes to take action on the proposal to enter into a Development Agreement (the "Agreement") with OTP, LLC (the "Developer").The Agreement would obligate the Developer to construct certain Minimum Improvements (as defined in the Agreement) on certain real property located within the Windsor Fields Urban Renewal Area as defined and legally described in the Agreement, consisting of the construction of an approximately 15,500 square foot commercial building, together with all related site improvements, under the terms and following satisfaction of the conditions set forth in the Agreement.One of the obligations of Developer relates to employment retention and/or creation. The Agreement would further obligate the City to make up to five (5) consecutive annual payments of Economic Development Grants to Developer consisting of 50% of the Tax Increments pursuant to Section 403.19, Code of Iowa, and generated by the construction of the Minimum Improvements, the cumulative total for all such payments not to exceed the lesser of $200,000, 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 Johnston, 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 Johnston in the State of Iowa, as provided by Section 364.6, Code of Iowa. Dated this 15th day of September, 2025. October 10 2025 LIOW0372414