Tuesday, August 16, 2011
Mason City Iowa: City Council OKs Harley Incentives
MASON CITY (Iowa)— The City Council voted unanimously Tuesday night to approve an incentive package for Harley-Davidson (of Mason City), 706 S. Federal Ave.
The vote was 5-0 but came with calls from some members for the council and the Economic Development Corp. to establish policies on dealing with retail businesses. Councilman Don Nelson was absent.
The incentive package includes a $100,000 forgivable loan to be forgiven at $10,000 a year for 10 years if the business stays at its current location.
The city will also provide a 10-year, 100 percent tax rebate on the new valuation created by the plannned renovation and expansion estimated to have a value of about $1 million.
Mason City, Iowa — The Mason City Council on Tuesday will consider an incentive package to keep Harley-Davidson in Mason City.
In exchange, the motorcycle sales and service business would commit to an expansion and renovation of the current site and add six full-time employees to its 20-person workforce.
According to a memorandum from City Administrator Brent Trout to City Council members, the incentive package includes a $100,000 forgivable loan to be forgiven at a rate of $10,000 per year for 10 years if the business stays in its current location at 100 S. Federal Ave.