Matching Loans and Incentive Programs to assist with Community Revitalization
Neighborhood Revitalization Plan
This plan is intended to promote the revitalization and development of Chase County by stimulating the rehabilitation, conservation or redevelopment of the area in order to protect the public health, safety or welfare of the residents of the county by offering certain tax rebates. Tax rebate is a tool for local governments to encourage new investment in order to increase or maintain the employment levels of the community, improve the provision of housing accommodations, encourage rehabilitation of deteriorated areas, preserve historically and architecturally significant structures and promote sound economic growth.
- Rehabilitation, alteration and additions to existing buildings and new construction on all real property classified as residential, farm residence, agricultural, or commercial and industrial situated in the designated area shall be eligible.
- Only taxable real property is eligible. Property assessed by the state is not eligible.
- The minimum investment in an improvement shall be $10,000.
- All new construction or construction of an improvement must have begun on or after the effective date of this plan and be completed no later than the second January 1st following the date on which the County Appraiser conditionally approved the application.
- Property eligible for property tax relief under any other provision of Kansas law will be eligible to secure relief under only one such plan or law as the owner selects.
Application and Procedures
- An application may be obtained from the Chase County Appraiser’s office, Strong City Clerk’s office or the Cottonwood Falls City Clerk’s office.
- PRIOR to commencement of construction on any improvement or new construction for which a tax rebate will be requested, the applicant-owner must after obtaining building permits as may be required, complete Part 1 of the application and file said application with the County Appraiser’s office with a non-refundable application fee of $25. Requests must be received before commencement of construction. There are no exceptions.
- Additional procedures may be procured from the office of application.
Maximum Tax Rebate Amount and Years of Eligibility
- The rebates shall be calculated by subtracting the before assessed property value as determined by the county appraiser on the most recent regular valuation, from the value ascribed by the appraiser after the improvements are completed. The difference shall be multiplied annually by the applicable mill levies of Chase County, Cottonwood Falls, Strong City and USD 284 which will establish the amount of tax eligible.
- The initial value added increment will be used each year to calculate the maximum tax rebate amount each year for the  five year rebate period.
- Year 1 – Maximum tax rebate amount would be 100% of the tax eligible for rebate.
- Year 2 – Maximum tax rebate amount would be 80% of the tax eligible for rebate.
- Year 3 – Maximum tax rebate amount would be 60% of the tax eligible for rebate.
- Year 4 – Maximum tax rebate amount would be 40% of the tax eligible for rebate.
- Year 5 – Maximum tax rebate amount would be 20% of the tax eligible for rebate.
NETWORK KANSAS BUSINESS ASSISTANCE AND MATCHING LOAN CAPITAL
StartUp Kansas Loan Program
StartUp Kansas provides gap financing to help entrepreneurs start or grow a business in Kansas. The loan program matches up to 150% of other public sources of capital and/or funds from a financial institution such as a bank. Up to $45,000 can be provided per project. Funds are flexible and can be used for a variety of business purposes, including equipment, inventory, and working capital. Entrepreneurs work with a NetWork Kansas resource partner to apply for funds.
StartUp Kansas was launched in August of 2006 to provide funding for startups and expansions of existing businesses in rural (population less than 50,000) and distressed Kansas communities in the form of matching loans. Competitive rounds are held monthly and include the following key elements:
- Applications are submitted by NetWork Kansas partners on behalf of the entrepreneur, and the NetWork Kansas partners administer the loan.
- NetWork Kansas partners and/or a financial institution provides a minimum of 40% of the matching funds.
- For example, if an applicant needs $50,000 total, StartUp Kansas can be no more than 60% of the project. At least, $20,000 (40%) must come from a public source and/or a financial institution.
- The StartUp Kansas Committee reviews and selects businesses based upon two primary criteria: 1) The business has the potential to be an economic driver in the sense that, if successful, it has the ability to grow and create additional jobs. Also, it may have the ability to generate wealth from outside the community; and 2) The business provides a benefit that the community perceives as either a necessity or a service that enhances the community in another way (restaurants, local newspapers, etc.). In these cases, the community benefit is weighted more heavily than job creation.
These elements ensure the StartUp Kansas program provides risk capital to entrepreneurs and existing businesses which, if successful, will provide economic and community benefits to rural and distressed urban communities.
StartUp Kansas – Downloadable Files
NetWork Kansas Entrepreneurship (E-) Communities create a revolving loan fund that is reviewed at the local level. The loans are intended as gap financing to help entrepreneurs start or grow a business in a specific community. The loan program matches public sources of capital and bank loans, and can provide up to $45,000 per project. Funds are flexible and can be used for a variety of business purposes, including startup costs, purchasing an existing business, business expansion, working capital, inventory, and more.
Contact Suzan Barnes at 620.273.6763 for application details.
Women & Minority Business Multiplier Loan
The Minority and Women Business Multiplier Loan Fund provides gap financing to help minority and women-owned businesses (MBE/WBE) and other disadvantaged business enterprises (DBE). The loan program matches up to 20% of the private capital invested in a business project, with a minimum loan amount of $25,000 and a maximum loan amount of $250,000. Funds are flexible and can be used for a variety of business purposes, including startup costs, purchasing an existing business, business expansion, working capital, inventory, and more and have low, fixed interest rates and no collateral requirements.
For additional information about industry specific grants, these plans and other opportunities please contact Jennifer Laird, Chase County Economic Development Consultant via email at [email protected] or by phone at 623-695-6058.