FINANCING PROGRAMS

Community Reinvestment Area (CRA) - City of Sylvania Tax Incentives Program

• Eligibility - Companies locating or expanding in the designated downtown CRA
• Requirements - Invest in real property improvements
• Rates/Terms - 100% of taxes on real property improvements; 6 years; Direct payment to school system

CRA-Sylvania Township Tax Incentives Program

• Eligibility - Companies locating or expanding in the designated Township/County CRA
• Requirements - Commercial and Industrial; Invest in real property improvements
• Rates/Terms - 100% of taxes on real property improvements; 15 years; Direct payment to school system required

Enterprise Zone (EZ) Tax Incentives

• Eligibility - Companies expanding and creating jobs in designated EZ
• Requirements - Invest a minimum of $100,000;  create a minimum of 5 jobs paying at least 150% of minimum wage; all other State rules and regulations apply
• Rates/Terms - Maximum 60-70% Net; Maximum 10 years; Direct payment to school system

Water and Sewer revolving Loan Fund

• Eligibility - Companies locating or expanding in the Sylvania school district and requiring water or sewer service
• Requirements - Create or retain jobs; make a private investment
• Rates/Terms - Determined on a case-by-case basis

Sylvania Linked Deposit Program

• Eligibility - Companies creating new jobs; companies investing in new, real or personal property
• Requirements - Acquire loan through eligible bank
• Rates/Terms - Up to 3% lower rate

Enterprise Revolving Loan Fund

• Eligibility  - Businesses creating/retaining jobs in the Sylvania school district, including start-ups;  fixed assets and/or working capital
• Requirements - Bank must be involved; 10% equity; No retail/commercial except in Town Center Commerce District
• Rates/Terms - Maximum of 7 years, but not to exceed the useful life; lower interest rate determined on case-by-case basis; will subordinate to bank; limited funds available