Commissions and Boards
Anderson Redevelopment Commission (ARC)
|
Mission - To identify, create, monitor and fund redevelopment activities that will enhance the esthetic qualities of the community, increase the tax base, create new jobs, and improve the economic development conditions in the City of Anderson. Goals - To create Redevelopment Districts in areas lacking investments, acquire and dispose of real estate for the purpose of redevelopment, identify and complete public projects necessary for the enhancement of the City, provide funding sources for public improvements, assist private businesses with start-up and expansion activity, and, foster and maintain strategic alliances that will promote and enhance economic redevelopment. Next meeting: Tuesday, September 2nd, 2008 at 4:30pm in Conference Room #1 on the first floor of the City Building
|
|
Community Revitalization Enhancement District (CRED)
A taxpayer is entitled to a credit against the taxpayer's state and local tax liability for a taxable year if the taxpayer makes a qualified investment in that year. The amount of the credit to which a taxpayer is entitled is the qualified investment made by the taxpayer during the taxable year multiplied by twenty-five percent (25%). A taxpayer may assign any part of the credit to which the taxpayer is entitled to a lessee of property redeveloped or rehabilitated.
Special incentive packages offered to private entities based on recoupment of sale tax and/or state income tax amounts.
Click here for a CRED Application (In PDF)
Economic Development Commission (EDC)
For more information, please contact Linda Dawson at (765) 648-6112
2008 Agendas 2007 Agendas HideRevolving Loan Fund (RLF) Board
Revolving Loan Fund Goal:
The major goal of the RLF is to create new permanent jobs.
The City of Anderson, in cooperation with local banks, offers a low interest loan program for businesses located in Anderson. The Anderson Revolving Loan Fund offers loans of up to $100,000 at rates as low as four percentage points below the prime rate. Funds may be borrowed for up to 20 years, although loans are ballooned every two years for renewal. Borrowers must create at least one job for every $10,000 borrowed from the revolving loan fund
- Latest RLF Agenda - 09-04-08
- Agendas 2008
- Agendas 2007
- Agendas 2006
- Agendas 2005
- Agendas 2004
New Market Tax Credit (NMTC) Governing Board
- Agendas 2008
Urban Enterprise Association (UEA)
UEA Revolving Loan Fund:
The Anderson Urban Enterprise Association (UEA) has established a Revolving Loan Fund (RLF) program that operates through the Department of Economic Development. The major goal of the UEA is to provide small businesses within the former UEA zone as well as designated areas in Park Place and the Westside, access to a flexible source of capital for facade improvements at rates and terms more desirable than conventional financing; and to improve the physical appearance of the targeted areas through low interest financing.
Eligible Applicants and Projects:
Generaly, any small business is eligible if they meet the definition of Small Business Administration (SBA) size criteria. in addition, the applicant must belocated within the specified target areas. Access to the UEARLF is open to property owners and tenants with the consent of the property owner.
Eligible Facade Uses of Fund:
- Landscaping
- Parking lot improvements
- Exterior decorative renovation
- Replacement of exterior windows, roofing, etc.
Following a loan selection criteria, the RLF is structured as a tandem loan program that works in cooperation with major banks in Anderson. Loan applicants must find a sponsoring bank to support fifty percent or more of the total loan. If the bank determins it can make the loan with RLF assistance, then the bank will submit a request to the Anderson Urban Enterprise Association.
The UEARLF will be accessed in an amount of up to thirty-three (33%) percent of the total loan package with the UEARLF portion not to exceed $15,000 or a minimum of $3,000.
The private lender's portion of the project will be an interest rate as negotiated between the lender and the borrower. UEARLF interest rates will be set at 4 points under the New York Prime interest rates as published in the Wall Street Journal, with a floor of 4.00%. Interest rates will be set for the length of the loan.
For more information please contact us at (765)648-6112.
- Latest UEA Agenda - 02/02/06
Thank you for visiting the City of Anderson, Indiana Website. Click Here to report any problems or errors.