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Economic Development | City of Manning, Econ. Development | Betterment Foundation
City of Manning Economic Development
The City of Manning strives to help local businesses survive and thrive. City staff is available to help existing businesses, business start-ups, or business expansions. The City helps businesses utilize tax abatement or tax increment financing, apply for City Economic Development Agency Revolving Loan Fund money, and puts business owners in contact with other resources or people they may need.
REVOLVING LOAN FUND
The City of Manning Economic Development Agency oversees three revolving loan funds that have invested over $1,100,000 in business retention, attraction, and expansion. Previous loans have ranged from $7800 to $300,000 with typical loan amounts being $20,000-$30,000. These low-interest loans can fund up to 40% of the total project cost and have no payments and no interest for the first year to really help businesses get off their feet. The application process if easy and interested people are encouraged to contact City Hall to find out more information.
Tax abatement is available for residential, commercial, and industrial properties when improvements are made. For commercial and industrial properties, tax abatement is available if the improvement to the property has a value of $75,000 or more. The abatement schedule is:
First Year: 100 %
Second Year: 80%
Third Year: 60%
Fourth Year: 40%
Fifth Year: 20%
To exercise tax abatement, fill out the Tax Abatement Form and return it to City Hall. TAX ABATMENT FORM
TAX INCREMENT FINANCING
Additionally, Manning has several Tax Increment Financing (TIF) districts. When building in these districts, a builder or developer can utilize this program to help pay for some of the infrastructure or building costs. Some examples of how Manning has utilized TIF in the past include the construction of Enterprise Street in the industrial park, a tax rebate for the Caleris building, and a tax rebate for the Conference Center at the Hausbarn-Heritage Park. More information on this can also be obtained through City Hall.
CITY OF MANNING ECONOMIC DEVELOPMENT AGENCY BOARD
The Economic Development Agency meets as needed. To get on the agenda, please contact Dawn at City Hall. In addition to administering the three Revolving Loan Funds, the Economic Development agency has also played a part in website development, the Housing 202 grant application, annual Main Street Manning pledges, tourism advertising, Iowa Living Roadways grants, the Manning Child Care Center, the Senior Center, the park shelter house, downtown curb and gutter, a hotel feasibility study, the Downtown Revitalization project, the downtown needs assessment, and much more.
For more information on how the City can help your business, contact:
Dawn Rohe, City Adminsitrator/Clerk
712-655-2176 | email@example.com