Industrial Park Incentives

Tax Increment Financing (TIF)

The TIF enables a city to use the property tax dollars produced from new private development to pay for certain public improvements and to provide assistance for private development within an urban renewal area.

Before a TIF application can be considered, the prospective development must provide the city with a business plan and description of the total project (including cost, expansion information, description of the city's participation, etc.); the company's financial history; the developers total personal financial (capital) investment; and parcel information.

There is possibly of a tax rebate up to 10 years with the City Council approval.

The Brooklyn Telecommunications Cooperative of Brooklyn also has a low interest revolving fund if you qualify.

You may also contact T.I.P. Rural Electric Cooperative for additional sources that may be able to help. Call us at 800-934-7976.