Incentives in Story City

City of Story City Incentives for New Projects

1. 5 year sliding scale property tax abatement. The City will also consider an economic development grant for years 6 – 10 based on the taxable valuation of the property.
   •Year 1 – 75% Abated
   •Year 2 – 60% Abated
   •Year 3 – 45% Abated
   •Year 4 – 30% Abated
   •Year 5 – 15% Abated
2. $50,000 low interest loan. Interest rate set at ½ of prime
3. City will provide grant writer for applying to State of Iowa for any incentives.
4. City will provide required land at no cost.