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WEEK-AT-A-GLANCE  
May 01, 2017   3pm | View Details
Music Appreciation Series
Stoughton Opera House
May 01, 2017   6:30pm-8:00pm | View Details
Freedom Through Forgiveness
Stoughton Hospital
May 02, 2017   9:30am-11:30am | View Details
Stoughton Memory Cafe
Stoughton Public Library
RDA - Redevelopment Authority

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RENEWING MEMBERS
Cummins Inc.
Koffee Kup Restaurant, The
Nazareth Health & Rehabilitation Center
Prizepromos
Schmidt's Auto, Inc.
Bay View Heights Inc
Deak's Pub & Grill
Moyer's Inc.
B & G Foods
Azura Memory Care


Information RDA Resources
Community Information, Economic Development, Publications


Commitments to pursue direct grant(s) on behalf of the project, including identification of the programs to be pursued and expected value:
Stoughton Redevelopment Authority is eligible for the same grant opportunities as other municipalities in the State.  The RDA will help explore available grants and will be a willing participant in any grant opportunities available for this project. 
The RDA has identified the following grant opportunities: 

1.


Tax Incremental Financing (TIF):  The City has designated the Redevelopment Area project site as a TIF district and use taxes generated by the increased property value to pay for land acquisition or needed public improvements. 

2. USDA Rural Business Cooperative Services:

  • Rural Economic Development Loan and Grant Program
  • Stoughton Utilities is an eligible borrower, required to relend the loan or grant proceeds at 0% interest to the eligible third party.
  • Funds may be used to finance facilities and equipment.
  • Loan max is $740,000 with a 10 year term.  Interest rate is 0%
  • Loan application starts with the Stoughton Utilities office. 
3.  Transportation Facilities Economic Assistance and Development Program

  • TEA Grant is used to assist in Road, Intersection and Signal Improvements, also for roadway extensions and rail.
  • City participation required
  • Purpose is to attract and retain business firms in Wisconsin
  • Grants of up to $1 million
  • Agency:  Wisconsin Department of Transportation
  • 50% local match can come from any combination of local, federal, or private funds or in-kind services.  City TIF funds can be used for match.
  • Project must materialize within three years from agreement date and remain after another four years.
  • Job guarantee required. 
4.

Wisconsin Community Development Block Public Facilities for Economic Development (CDBG-PFED)

  • Eligible Activities:  Water systems, sewerage systems and roads, other related infrastructure.
  • City participation required.
  • Funding assistance up to $750,000.
  • Business must create and retain 1 FTE for each $10,000 of PFED funding.  Actual funding based on wages, benefits and number of jobs.
  • Applications submitted to the Wisconsin Department of Commerce
  • Development agreement is required. 
5. USDA Rural Business Cooperative Services:

  • Rural Economic Development Loan and Grant Program
  • Stoughton Utilities is an eligible borrower, required to relend the loan or grant proceeds at 0% interest to the eligible third party.
  • Funds may be used to finance facilities and equipment.
  • Loan max is $740,000 with a 10 year term.  Interest rate is 0%
  • Loan application starts with the Stoughton Utilities office. 
6. Focus on Energy:

  • Focus on Energy works with eligible Wisconsin Businesses to install cost effective energy efficiency and renewable energy projects.  Stoughton Utilities is a participating electric Utility. 
7. Industrial Revenue Bonds:

  • Wisconsin's Industrial Revenue Bond (IRB) program now has more than $265 million available to assist small manufacturers with expansion projects through low-interest financing. The Department of Commerce grants the bonding authority (volume cap allocation) to cities, villages, counties and towns to issue the bonds on behalf of a business. 
  • Unlike most conventional loans, IRBs can offer businesses a convenient, long-term, and often a fixed-rate financing package.  Similar to other municipal bonds, the interest earned on IRBs is exempt from federal income taxes. As a result, the bond buyer is willing to accept a lower rate of interest in exchange for tax-free income. Typically, interest rates on IRBs may be from 1.5 to 2.5 percentage points below corporate bonds. The terms of the bond issue are negotiable and can be structured to meet the needs of the borrower. The costs of issuing the bonds, which can be sizeable, can be spread out over the term of the bond issue.
  • The maximum size of the bond issue is $10 Million.





Stoughton Top Attraction Stoughton Village Players
For a live stage performance, be sure to see the Stoughton Village Players, one of the oldest community theaters in the area. Since they formed in 1972, the Stoughton Village Players have put on over 70 musicals, dramas, comedies, and variety shows.
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Stoughton Chamber of Commerce
532 E. Main Street
Stoughton, WI 53589

Phone: 608-873-7912
Toll Free: 888-873-7912
Fax: 608-873-7743
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