Notice of Meeting For Approval of Development Agreement with Osage Cooperative Elevator and Authorization of Tax Increment Payments
The Board of Supervisors Mitchell County, Iowa (the “County”), will meet at the Mitchell County Courthouse Board Room, in Osage, Iowa, on November 4, 2024, at 8:45 a.m., at which time and place proceedings will be instituted and action taken to approve a Development Agreement (the “Agreement”) between the County and Osage Cooperative Elevator (the “Cooperative”), in connection with the expansion by the Cooperative of its dry fertilizer storage facilities in the Mitchell County Urban Renewal Area. The Agreement will provide for certain financial incentives in the form of incremental property tax payments to the Cooperative in a total amount not exceeding $216,000 as authorized by Section 403.9 of the Code of Iowa.
The commitment of the County to make incremental property tax payments to the Cooperative under the Agreement will not be a general obligation of the County, but such payments will be payable solely and only from incremental property tax revenues generated within the Mitchell County Urban Renewal Area.
At the meeting, the Board of Supervisors will receive oral or written objections from any resident or property owner of the County. Thereafter, the Board may, at the meeting or at an adjournment thereof, take additional action to approve the Agreement or may abandon the proposal.
This notice is given by order of the Board of Supervisors of Mitchell County, Iowa, in accordance with Section 403.9 of the Code of Iowa.
Rachel Foster
County Auditor