Economic Development

The purpose of the Sutherland Economic Development Board is to encourage business and industry to locate in the City and surrounding areas.

The Sutherland Economic Development Board meets the last Wednesday of every month in the Meeting Room of the RL Johannsen Center at 6:30 p.m.

The current Board members are as follows:
Joe Sweeney – Councilmember – 712-446-3683
Steve Koch – Councilmember
Mark Fuhrman – J & K Insurance
Jim Johnson – Security State Bank
Sharon Litka – Main Market/Hometown Variety Owner
Joyce Zubrod – Zub’s Shop, Co-Owner
Walter Kummerfeld – Q-Wash Owner
Sharon Flinders – Flinders Tax
Johanna Homan – resident

INDUSTRIAL PARK

MAPS

Industrial Park Estimated Lots

Estimated Lots

Guidelines for purchase of land in Industrial Park

  1. Buyer pays all legal costs to satisfy transfer of land. There will be no cost to the City of Sutherland.
  2. All City zoning and ordinances must be followed.
  3. The land will be sold for $1.00 if all guidelines are met.
  4. There will be a minimum assessment agreement filed with the County Assessor.
    1. The minimum assessment value will be determined on a $70,000 assessment per 1 acre of land. [Example: a lot of 240 ft X 160 ft is 88% of an acre. Minimum assessment would be 88% of $70,000 which equals $61,600 minimum assessment value.]
  5. There will be no time frame of years for minimum assessment value.
  6. The minimum assessment value will be transferable with land sales.
  7. If there are no capital improvements within three (3) years after sale of land, the land will be deeded back to the City of Sutherland at seller’s cost.
  8. Buyer of land will be responsible to pay for water and sewer hookup from City main.

Revolving Loan Fund

This would be a direct loan to a company according to the guidelines. This loan may be made with an interest rate negotiated using current local interest rates. Term of the loan would be uo to five (5) years, depending on the individual circumstances. Individual must obtain 70% project funding before seeking City participation. Total loan form the revolving loan fund not to exceed $50,000.

Interest Buy-down

City would buy-down the interest rate on a loan according to the guidelines. The buy-down cannot be more that on-half of the commercial loan rate with the total interest paid by the City not to exceed $3,000. The term of the city’s participation would be up to five (5) years. Individual must obtain other funding before seeking City participation.

Store Front Improvements Loan

The improvements are only for the front exterior of the property owners building.

A forgivable loan is offered to all property owners operating a business within the Sutherland area and their business is open for more than 32 hours per month. If they go out of business or sell, the original borrower must repay the balance.

A repayment loan is offered to all remaining property owners not open for business for more than 32 hours per month within the Sutherland area.

The maximum loan amount is $2,000 per property owner.

The Owner has to pay 25% of total cost and SED will loan 75% up to maximum loan amount. Owner is required to submit receipts.

Terms of repayment will be amortized over 10 months per thousand borrowed at 0.0% rate for forgivable loan and 5.0% rate for repayment loan. Example: $1,000 borrowed=10 months or $2,000 borrowed=20 months.

A $35.00 application fee is needed along with the application. The fee is refundable if loan is not approved by SEC.

**Click for PDF Application .

SPRUCE UP SUTHERLAND – No Further applications will be accepted for 2016. All funds have been awarded.

A pleasant community appearance adds to home values, helps attract business investment and improves the community’s reputation. Research shows that beauty is one of the top three factors in creating community attachment, or loyalty, to your particular town or city.

We understand that improving your property can often be too great of a financial burden to undertake on your own. With this in mind, The City of Sutherland and Sutherland Economic Development are excited to launch a new program entitled Spruce Up Sutherland.

After completing a brief application describing your property and the proposed project, submit your application to City Hall by June 1st. The committee will notify those that are approved by no later than June 10th.

If approved, the City and Economic Development will reimburse you after you complete necessary painting, installation of house siding or removal of a house that is beyond repair. Financial assistance is available for up to the following amounts: House Painting $300; House Siding $2,500; Removal of House $2,500. The completed project must match the project submitted on the application.

Please visit the Sutherland City Office at 409 Ash Street or call 446-2243 for more information on the Spruce Up Sutherland program or simply complete the application below and return to the City Office by June 1st.

Please consider taking advantage of this valuable opportunity to improve the appearance of your property and we sincerely thank you for your investment in your community.

**Spruce Up Sutherland Application

County Economic Development

PO Box 616, 160 S. Hayes
Primghar, Iowa 51245
712-957-1313

We are a private, nonprofit organization incorporated for the purpose of promoting economic development in O’Brien County.

We treat your business matters confidentially. If you are looking to start a new business or expand an existing business, meet with us to share thoughts and ideas. We will work together to make your business ideas come to life.

We are a designated Enterprise Zone with benefits available for business development and we have Gap Financing to assist you financially with your project..

For more information please contact:
Kiana L. Johnson, Executive Director
http://www.obriencounty.com/

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