City Approves TIF Subsidy for Sputtering Components Expansion
City of OwatonnaCity · Owatonna, MN- Disclosed value
- Estimated $260,946 tax increment (over 9 years); administrative costs $26,095; site preparation $176,063; total project/financing costs to be paid from tax increment $260,946
- From agendapacket
- Approved
- Apr 15, 2025
- Renews
- Free account
The 30-second brief
The City of Owatonna approved a Development Agreement with Sputtering Components, Inc. for a 12,460 square foot expansion project. The agreement provides an estimated $260,946 in tax increment financing over nine years to support site improvements and administrative costs.
Sputtering Components Inc holds this contract with City of Owatonna.
The renewal date is on record. A free account shows it, with the renewals for every City of Owatonna contract.
Know when this contract comes back up.
See the renewal dateFree account · 30-second setup · No credit card
Contract details
- Amount
- Estimated $260,946 tax increment (over 9 years); administrative costs $26,095; site preparation $176,063; total project/financing costs to be paid from tax increment $260,946
- Document date
- April 15, 2025
- Term
- Estimated 9 years (first tax increment collection 2027, decertification 12/31/2035)
- Renews
- Free account
- Agency
- City of Owatonna
- Source document
- City of Owatonna City Council Meeting Agenda Packet April 2025 (AgendaPacket)
Sputtering Components Inc's other public contracts
More City of Owatonna contracts
Questions about this contract
Who was awarded the government contract by City of Owatonna?
Sputtering Components Inc was awarded this government contract by City of Owatonna, as recorded on April 15, 2025. The contract value is Estimated $260,946 tax increment (over 9 years); administrative costs $26,095; site preparation $176,063; total project/financing costs to be paid from tax increment $260,946.
How much is the Sputtering Components Inc contract with City of Owatonna worth?
The Sputtering Components Inc contract with City of Owatonna is valued at Estimated $260,946 tax increment (over 9 years); administrative costs $26,095; site preparation $176,063; total project/financing costs to be paid from tax increment $260,946.
What type of contract is this?
This is a government contract, documented as a agendapacket record.
Where was this contract approved?
This contract appears in City of Owatonna City Council Meeting Agenda Packet April 2025 (AgendaPacket), dated April 15, 2025 from City of Owatonna. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
Show 2 more questions
What other contracts does Sputtering Components Inc hold?
Sputtering Components Inc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is City of Owatonna currently buying?
Explore City of Owatonna's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.