Financial Assistance

SCDC Revolving Loan Fund (RLF)

A loan pool of in excess of $1,800,000 is available to fund new or existing industrial and commercial projects. Projects are evaluated on the local economic benefits potential for the community. Projects must be unable to obtain full conventional financing. A maximum of one third of the funds can be obtained from the revolving loan fund. Applications are excepted at any time and are reviewed by the SCDC RLF Board.

Investing in Community Brochure

SCDC/City of Sheldon Redevelopment Incentive Fund (RIF) - Storefront Program

The Storefront Program is designed to aid in the refurbishing and repair of building facades or storefronts. Eligible renovation activities of commercial buildings include the replacement of awnings, signage, windows, doors and masonry repair. Forgivable loans are available for qualifying projects up to 40% of project cost. Applications are accepted at any time and reviewed by the SCDC RIF Committee.

RIF Brochure

O’Brien County Revolving Loan Fund

The objective of the O'Brien County Economic Development Revolving Loan Fund is to further the public purpose of economic development through joint private and public investments which involve the creation of new jobs and income, or the retention of existing jobs and income that would otherwise be lost.

www.obriencounty.com

State of Iowa Financial Assistance Programs

The State of Iowa can support business growth through direct financial assistance and tax incentives. The Grow Iowa Values Fund (GIVF) is the state's premier financial assistance program designed to support innovation and job growth. A variety of business development programs are available through the Grow Iowa Values Fund. For further information on the State of Iowa Financial Assistance Programs, please click on the link below.

State of Iowa Financial Assistance Programs

Industrial Property Tax (T.I.F. Rebate)

The City of Sheldon offers to rebate from property taxation the actual value of new construction added to industrial real estate. The following T.I.F. rebate schedule is applied in such cases:

Year #1 — 75%
Year #2 — 60%
Year #3 — 45%
Year #4 — 30%
Year #5 — 15%

Tax Increment Financing (TIF) Program

The City of Sheldon has created Urban Renewal Districts that focus on improvements made to private development of real estate. The incremental value in property tax revenues generated can be utilized to finance such projects as public parking, street improvements, extension of utilities, site preparation, and project enhancements. Applications are available from the SCDC office and are reviewed by the City Council for approval.