News

1.  September 2, 2008-board appoints committee to assist in developing the prototype of the proposed community building; recommended  appointments
     a. John Calhoun-Polk City Community Foundation
     b. Michelle Rothfus-Polk City Community Foundation
     c. Dave Dvorak-City Council
     d. Sam Hill-Polk City Parks Board
     e. Teresa Rockwood-All Seasons Fitness
     f. Micah Mullenix-All Seasons Fitness
     g. Gary Fjelland-North Polk School District
     h. Kevin Vidergar-North Polk School District
2.  September 2, 2008-board selects company to develop building prototype; recommended-Downing Construction
3.  September 2, 2008 to November 24, 2008-Prototype development
4.  December 2, 2008-board approves prototype
5.  December 2, 2008-board authorizes feasibility study
6.  January 1, 2009 thru April 15, 2009-feasibility study
7.  May 5, 2009-Feasibility study presented to board
8.  May 5, 2009-board authorizes capital campaign
9.  May 5, 2009 thru June 29, 2009-capital campaign
10. July, 2010-GROUNDBREAKING 
11. July, 2011-GRANDOPENING

PCDC would like to welcome another new business to town.  Michelle Freese has opened Auntie M’s Boutique at 110 West Van Dorn Street, Ste H.  Please stop by and welcome Michelle to Polk City. 

Polk City is happy to welcome a new business to town.  Jersey Commissions opened for business on August 1st.  They are an ebay business and are located on the square in Polk City.  More information will be available as they get settled in.  Please stop by and welcome them to town. 

The first annual Four Seasons Festival was held on July 25th & 26th in Polk City.  The Festival was sponsored by the Polk City Development Corporation and the Polk City Chamber of Commerce with the help of many sponsors.  A special thanks needs to go to the City of Polk City.  The City was a tremendous partner and it is safe to say that the Festival would not have taken place without their help.  The Festival was a tremendous success.  A good time was had by all.  I have received nothing but positive feedback about the weekend.  The Festival accomplished the set goals of marketing Polk City to potential home owners, marketing Polk City to potential businesses, marketing the businesses in Polk City, and most importantly building community pride.  The Festival was a two day celebration that drew a couple thousand people into the square and to Big Creek to take part in a multitude of activities.  The Festival could obviously not have occurred without many volunteers.  I owe a great dea of gratitude to the number of volunteers that made this a success.  A debriefing meeting will be held to determine what needs to be fine tuned to make the Festival better in future years.

I am sure many of you have seen the sign in the window of the building previously occupied by Michelle’s School of Dance.  We are very excited that a café/coffee house will be coming soon to Polk City.  This business will be locally owned by Denise Bradfield and run by Polk City’s own Judy Reising.  The Reising Sun will have coffee, soft drinks, pastries, sandwiches and ICE CREAM.  Keep an eye out for the grand opening.

Polk City Development Corporation would like to announce it’s new logo:

Luana Savings Bank (formerly First State Bank Iowa) would like to take this opportunity to annouce it’s new business creation incentive package:

The 3 Million Dollar Loan Fund
 

Purpose of the Loan
 
Luana Savings Bank will provide assistance for private (for-profit) businesses engaged in retail and/or service type of activities.
 
Provided by: Luana Savings Bank - 755 W Bridge Rd, Polk City IA 50226
 
Loan Eligibility
 
The eligibility of a proposed project for a possible Incentive Fund Loan will be determined by the Incentive Fund Committee.
 
Eligibility Criteria:

• Completed Application Form (Loan Application Form)
• All projects need to be located within the city limits of Polk City. On a case by  case basis, the Loan Committee may waive this requirement and provide loan funds to a business located outside of the city limits of Polk City if the committee determines doing so will have a positive economic impact on the community of Polk City.
• Nature of Business
• Proposed use of funds
• Overall Benefits to community:
  • Net increase in space occupied
  • Job creation (present and future)
  • Inventory/Services: Expansion or diversification

Procedures
 
Upon receipt of application, the Incentive Fund Committee will determine eligibility within two business weeks. Applicants will be required to make a formal presentation to this committee. Results will be forwarded to the applicant and desired financial institutions. Return applications to:

LUANA SAVINGS BANK 

755 W Bridge Rd

 Polk City, IA 50226

Incentive Fund Committee:

• 5 representatives of the Luana Savings Bank
• A representative of the Polk City Council

Loan Terms
 
2% under prime - current rate 3%
3 year guaranteed fixed rate
Repayment: Based on the use of the funds
Collateral: Determined by financial institution.
Option: $3,000 per employee, incentive in place of under prime interest rate
 
Loan Approval
 
Once the Incentive Fund Committee determines the applicant eligible for a loan, the applicant will be asked to continue the loan process within the bank.

Documentation needed by the bank will include, but is not limited to:
 

1. Personal/Corporate financial statement and tax returns
2. Source and use of funds
3. Borrower’s business experience and past history
4. Business Plan including cash flow projections
5. Collateral for loan

Loans will be made according to the credit and loan policies normally followed by the individual financial institution.
 
Loan Proceeds
 
Loan may be used for:

1. Purchase of real estate for a business
2. Purchase of empty building for a business
3. Exterior remodeling of currently occupied building
4. Rehabilitation or modification of currently unoccupied building
5. Purchase of equipment and fixtures
6. Purchase of inventory lines
7. Working capital necessary to support an expansion or a new operation
8. Purchase of an existing business
9. New construction projects

Please contact Luana Savings Bank for more information:  515-984-7100.

The schedule of activities has been finalized and the brochure is out.  Click the link below to download the schedule of events happening the weekend of July 25th and 26th.

Four Seasons Festival Brochure

The Polk City Development Board has authorized the formation of a school committee.  The charge of the committee is to work for a new school building located in Polk City.  Nine community members have been recruited to assist in the formation of the committee, determination of goals and objectives, and create strategies to accomplish those goals.  The committee will establish and implement the plan.  Please contact John Calhoun pcdc@mchsi.com should you want more information regarding this issue.

The Four Seasons Festival planning continues to progress.  The Festival will be held on July 25 & 26 in Polk City.  The planning committee meets monthly to fine tune the many activities that are planned for the Festival.  If you would like to be involved in this great community event please think about volunteering.  Volunteers should contact John Calhoun pcdc@mchsi.com or 515-210-8442.