Loan amount is based upon the increased taxable valuation created by the improvements and is specific to the benefits created for the community. A low interest Business Development Loan program is available for business retention and business creation. Amounts are based upon needs of each project and overall benefits created for the community. South Grand TIF District City will consider funding public infrastructure improvements necessary to service new commercial and industrial construction. East Park TIF District City will consider funding public infrastructure improvements necessary for industrial growth.
Loans are available as incentives to assist in industrial growth within the districts.
The amount of the loan is based upon the increased taxable valuation and jobs created by each activity. Loans are project specific, with Development and Assessment Agreements required. Credits are typically taken over a period of up to 10 years. The purpose of the CEBA program is to provide financial assistance to businesses and industries which require assistance in order to create new job opportunities or retain existing jobs which are in jeopardy. Funds are provided in the form of loans and forgivable loans.