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County approves $200,000 tax‑abatement share to support 24‑hour daycare in Sock Rapids
Summary
Benton County voted to join Sock Rapids and the school district in waiving roughly three and a half years of new property tax revenue — about $200,000 total split among partners — to help finance a proposed 24‑hour daycare and childcare facility in the Sock Rapids Industrial Park.
Benton County commissioners voted March 17 to participate in a tax‑abatement package that will help finance a proposed 24‑hour daycare in Sock Rapids. County staff told the board the county’s expected share is part of a $200,000 package to be covered by waiving the first 3.5 years of new local property taxes generated by the facility.
Todd Schultz, speaking for the city, described a financing plan that combines Small Business Administration loans, Gate City Bank financing, a revolving loan fund application and partner contributions from the school district and the Benton Economic Partnership. He said the property currently produces no local tax revenue because it is tax‑exempt; staff estimate the completed daycare would generate roughly $43,000 per year in local taxes that would be shared among city, county and school district.
Elaine Fischer, the prospective owner, told the board the building is planned for about 12,000 square feet and would be licensed for about 156 children at peak capacity. Fischer said the center will operate on three shifts, including overnight coverage, and that she has prepared a six‑year financial plan to sustain both day and night operations.
During the public hearing Michael Depa asked what would happen to profits from the center; staff replied the business would operate as a private enterprise and use profits for maintenance and long‑term capital planning like other private operators. Commissioners pressed for details about how the abatement works; staff reiterated that the abatement waives future new tax receipts rather than paying money out of county coffers.
After questions and supportive comments from board members who cited regional workforce and recruitment benefits, the board moved and approved the tax‑abatement agreement with the city and developer. The vote carried and the board directed staff to finalize related documents and financing steps.
Next steps: county staff will return with the final contract language and any revolving‑loan paperwork for formal execution and will monitor the project as the developers pursue permitting and lending.
