NOTICE OF MEETING FOR APPROVAL OF DEVELOPMENT AGREEMENT WITH RENEWTRIENT 1, LLC AND AUTHORIZATION OF TAX INCREMENT PAYMENTS
The Board of Supervisors Wright County, Iowa (the “County”), will meet at the Board of Supervisors Chambers, in Clarion, Iowa, on March 18, 2019, at 10:00 o’clock 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 ReNewTrient 1, LLC (the “Company”), in connection with the construction and operation of new buildings and facilities for use in the Company’s business operations in the County’s 2019 Wright County Economic Development Urban Renewal Area. The Agreement will provide for certain financial incentives in the form of incremental property tax payments to the Company in a total amount not exceeding $90,000 as authorized by Section 403.9 of the Code of Iowa.
The agreement to make incremental property tax payments to the Company will not be a general obligation of the County, but will be payable solely and only from incremental property tax revenues generated within the 2019 Wright County Economic Development 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 Wright County, Iowa, in accordance with Section 403.9 of the Code of Iowa.