Owatonna Approves TIF Development Agreement with Sputtering Components
City of OwatonnaCity · Owatonna, MN- Disclosed value
- Up to $278,097
- From contract
- Approved
- Apr 1, 2025
The 30-second brief
The City of Owatonna approved a Development Agreement with Sputtering Components, Inc. providing up to $278,097 in tax increment financing reimbursements for site improvements to a warehouse and distribution facility. The subsidy is structured through a Tax Increment Revenue Note at 5% interest and requires the creation of at least five new full-time jobs and continued operations for at least five years.
Sputtering Components Inc holds this contract with City of Owatonna.
Term as filed: From April 1, 2025 until the Termination Date specified in the Development Agreement (minimum 5-year operations commitment).
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Contract details
- Amount
- Up to $278,097
- Document date
- April 1, 2025
- Term
- From April 1, 2025 until the Termination Date specified in the Development Agreement (minimum 5-year operations commitment)
- Agency
- City of Owatonna
- Source document
- city-of-owatonna-development-agreement-with-sputtering-components_e60.pdf (Contract)
Sputtering Components Inc's other public contracts
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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 1, 2025. The contract value is Up to $278,097.
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 Up to $278,097.
What type of contract is this?
This is a government contract, documented as a contract record.
Where was this contract approved?
This contract appears in city-of-owatonna-development-agreement-with-sputtering-components_e60.pdf (Contract), dated April 1, 2025 from City of Owatonna. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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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.