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Fully-improved industrial properties are available at 15 percent below
market prices. Properties are also available for lease at an annual lease rate of one
percent below the current national prime lending rate at the date of the lease and based
on the current appraised value of the lease site.
The qualifications required are that the business
employ a minimum of 25 employees and have a capital investment of $300,000 or more,
including land and plant
Note
This incentive applies only to the properties owned by the County of Yuba in the eight
Yuba County Airport Industrial Parks.
Example:
A company purchases 5.0 acres
at $34,500 per acre for a total cost of $172,500. After plant
construction, the total capital investment amounts to $1,150,000,
including the land purchase. The company employs 30 people. A
savings of $25,875 or 15 percent of the sales price ($5,175 per
acre purchased) is realized by the company.
A company leases 5.0 acres
of property that has been appraised at $34,500 per acre. At the
conventional lease rate (appraised value x prime plus 2 - prime
being 10.5%), annual rent would be $21,563. However, with the EZ
lease rate discount, annual rent would be $19,838 (appraised value
x prime, minus 1), a savings of $16,388. |
