Areas Served: City of Tioga
The Tioga Fund was established in 1991 through a city sales tax.
50% of the one percent tax is committed to economic development and is available to business and industry locating or expanding in the Tioga area, 25% is committed to property tax relief, 15% for community improvement, 5%for recreation and 5% for park facilities.
The Tioga Fund is administered by a five member advisory board appointed by the Tioga City Commission.
Intended Uses: – Relocation of business to the Tioga Area – Expansion of existing business – Start up of new business – Provide temporary or Permanent financing Criteria: – Economic impact on the local economy – Job Creation potential – Impact on the local tax base – Ability to repay obligations – Leveraging from other sources The Tioga Fund is not intended to replace other sources of financing.
It is intended to work in conjunction with and enhance financing packages that encourage job creation and economic stimulus, such as the BND Partnership in Assisting Community Expansion (PACE) buy down, working capital grants and loans, equity shortfalls and leveraging available state funding.
Businesses that will unfairly compete with an existing local firm will not be financed.
Restructuring of existing debt will not be considered.
Contact InformationTioga Economic Development Corporation
Address: 12 1st Street NE
City: Tioga
State: North Dakota
Website:
http://www.tiogand.net/index.asp?Type=B_BASIC&SEC={DDDB5E40-64D8-4A80-B18E-17632AC02BB4}
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