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Below is a summary of facts requested to be published based on feedback received from the public: This is a summary of SEED and the City of Stuart's working together over the past several years



SEED/Council Historic Teamwork:

· Donated land to support athletic complex

o SEED currently maintains athletic complex mowing and spraying commitments

· Built a spec building that is now owned and operated by Wausau

· Assisted with GrowMark locating in Stuart

· Acquired Kading Properties

· Completed the walking trail

· Donated land for helipad

· Facilitated Dollar General locating in Stuart

· Blighted property removal converted to condominium complex

· Developed phase 1 of Wambold Addition



SEED’s Housing Initiatives Program Summary:

· Driven by Region Council of Government Study showing a shortage of housing in Stuart; and growth opportunity

· Wambold addition promotes new housing but offers no tax abatement

· In-fill lots (not Wambold) offer a 5 year 50% tax abatement for new construction



SEED/Wambold Housing Summary:

· Wambold phase 1 has allowed for sidewalk grant opportunities (safe routes to schools)

· No tax abatement offered in Wambold addition

· No tax increase for citizens as project(s) is self-funded

· Resulted in 24 of 27 new home occupied by families not in Stuart prior

· Generates an estimated $600K of LMI funds over 10 years required to be reinvested into infrastructure and blight based on need

o This will be used toward core community infrastructure upgrades only

· SEED housing initiative is a similar program other communities have offered such as Guthrie Center, Harlan and Madrid

· Census has shown Stuart with a population decline of 6% from 2000 to 2010

o Earlham was the only surrounding community with growth during same period

§ Earlham has for years provided an abatement program for new construction

o SEED’s efforts are attempting to help impact population growth by the time the new census is completed







City of Stuart:

· Recent bond sales (August) have shown Stuart’s strong financial condition; cultural center bond issue was refinanced and will be paid

off 10%-20% earlier than expected due to the city being offered lower interest rates. Because of this, the voted-in tax will also be removed earlier.

· Another refinance proposal (October) is dropping from 5% rate to 3.1%; also saving on interest costs and repayment.

o Bonds for this refinance were sold in pre-market offerings; which shows market confidence. Many bonds had multiple orders.

o City’s tax rate has declined by 12% since 2015 and will continue to do so with new homes built, business expansion etc.

· City’s reserves have gone up four times in the last 8 years

· City’s TIF revenue availability:

o TIF is the only tool for the city to use toward economic development and to promote itself; established by the council in the 90’s

o TIF revenue is only available for a given period of time; thereby also expiring over time (bell curve)

o TIF revenue is NOT a new tax or revenue source but based on existing revenue ONLY

§ The current TIF generated revenue to Stuart is estimated at $1.7MM and $1.8MM annually, about $15MM in the coming 10 years and

and $22MM over 15 years

§ Currently, the city of Stuart is at its peak years for TIF revenue generation, which is why upgrades (projects) are also at a peak

· TIF revenue is very straightforward; if you don’t use it you lose it

· TIF has been used to resolve the ADA Non-Compliant buildings (7 total) which was an impending lawsuit

o City tax rate were not raised for these upgrades because TIF revenue was available to meet these expenses
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An update on the Wambold housing development. All the lots have been taken and this will complete phase 1. As of to date there are 27 homes built and occupied. Out of the 27 homes occupied 24 of those homes are occupied by people who were not residents of Stuart. Out of those 24 homes we can account for about 30 children who are school age or will be in the next 2 or 3 years. This is a great success and SEED would like to thank everyone involved. We especially want to thank the City of Stuart for their support.
We are currently planning a phase 2 that will continue on east of phase 1. This addition will have 21-24 lots. We are hoping that construction on phase 2 can begin in the spring is all goes well.
... See MoreSee Less

View on Facebook

The ... See MoreSee Less

1982 Ragbrai photo of Stuart riders including Florence Cook.

View on Facebook

Our Facebook:

Below is a summary of facts requested to be published based on feedback received from the public: This is a summary of SEED and the City of Stuart's working together over the past several years



SEED/Council Historic Teamwork:

· Donated land to support athletic complex

o SEED currently maintains athletic complex mowing and spraying commitments

· Built a spec building that is now owned and operated by Wausau

· Assisted with GrowMark locating in Stuart

· Acquired Kading Properties

· Completed the walking trail

· Donated land for helipad

· Facilitated Dollar General locating in Stuart

· Blighted property removal converted to condominium complex

· Developed phase 1 of Wambold Addition



SEED’s Housing Initiatives Program Summary:

· Driven by Region Council of Government Study showing a shortage of housing in Stuart; and growth opportunity

· Wambold addition promotes new housing but offers no tax abatement

· In-fill lots (not Wambold) offer a 5 year 50% tax abatement for new construction



SEED/Wambold Housing Summary:

· Wambold phase 1 has allowed for sidewalk grant opportunities (safe routes to schools)

· No tax abatement offered in Wambold addition

· No tax increase for citizens as project(s) is self-funded

· Resulted in 24 of 27 new home occupied by families not in Stuart prior

· Generates an estimated $600K of LMI funds over 10 years required to be reinvested into infrastructure and blight based on need

o This will be used toward core community infrastructure upgrades only

· SEED housing initiative is a similar program other communities have offered such as Guthrie Center, Harlan and Madrid

· Census has shown Stuart with a population decline of 6% from 2000 to 2010

o Earlham was the only surrounding community with growth during same period

§ Earlham has for years provided an abatement program for new construction

o SEED’s efforts are attempting to help impact population growth by the time the new census is completed







City of Stuart:

· Recent bond sales (August) have shown Stuart’s strong financial condition; cultural center bond issue was refinanced and will be paid

off 10%-20% earlier than expected due to the city being offered lower interest rates. Because of this, the voted-in tax will also be removed earlier.

· Another refinance proposal (October) is dropping from 5% rate to 3.1%; also saving on interest costs and repayment.

o Bonds for this refinance were sold in pre-market offerings; which shows market confidence. Many bonds had multiple orders.

o City’s tax rate has declined by 12% since 2015 and will continue to do so with new homes built, business expansion etc.

· City’s reserves have gone up four times in the last 8 years

· City’s TIF revenue availability:

o TIF is the only tool for the city to use toward economic development and to promote itself; established by the council in the 90’s

o TIF revenue is only available for a given period of time; thereby also expiring over time (bell curve)

o TIF revenue is NOT a new tax or revenue source but based on existing revenue ONLY

§ The current TIF generated revenue to Stuart is estimated at $1.7MM and $1.8MM annually, about $15MM in the coming 10 years and

and $22MM over 15 years

§ Currently, the city of Stuart is at its peak years for TIF revenue generation, which is why upgrades (projects) are also at a peak

· TIF revenue is very straightforward; if you don’t use it you lose it

· TIF has been used to resolve the ADA Non-Compliant buildings (7 total) which was an impending lawsuit

o City tax rate were not raised for these upgrades because TIF revenue was available to meet these expenses
... See MoreSee Less

View on Facebook

An update on the Wambold housing development. All the lots have been taken and this will complete phase 1. As of to date there are 27 homes built and occupied. Out of the 27 homes occupied 24 of those homes are occupied by people who were not residents of Stuart. Out of those 24 homes we can account for about 30 children who are school age or will be in the next 2 or 3 years. This is a great success and SEED would like to thank everyone involved. We especially want to thank the City of Stuart for their support.
We are currently planning a phase 2 that will continue on east of phase 1. This addition will have 21-24 lots. We are hoping that construction on phase 2 can begin in the spring is all goes well.
... See MoreSee Less

View on Facebook

The ... See MoreSee Less

1982 Ragbrai photo of Stuart riders including Florence Cook.

View on Facebook

Stuart Enterprise for Economic Development:

  • What is SEED?

    Stuart Enterprise for Economic Development (S.E.E.D.) is a non-profit corporation that was created over 40 years ago.  It was developed by business owners in Stuart to promote economic development.  These business owners devote their time as volunteers to create more opportunities within the community.

    Since its inception, S.E.E.D. has contributed to a $1.2 million increase in valuation, collaborating with City officials on large projects, and acquiring blighted neighborhoods and increasing valuations by improving or building new properties.

  • Current and Future Projects

    S.E.E.D.’s latest venture is a housing development located by the high school that consists of 32 lots.  This aggressive project allows the non-profit to give away lots to homeowners and builders in an effort to increase Stuart’s population, help the local economy, and increase its tax base.

  • Past Accomplishments

    In 2001, S.E.E.D. collaborated with the City of Stuart and demolished a run-down, drug-infested trailer park and built an apartment complex which was sold and is now valued at $500,000.  S.E.E.D. has also partnered with Farmers Electric Co-op and built a spec warehouse in Stuart’s business park.  This was eventually sold to Wausau and has a valuation of $400,000 and provides the town with local jobs.

    The non-profit purchased three dilapidated buildings in downtown Stuart, along with a development agreement with the City, demolished and sold the property to an investment company.  As a result, a Dollar General store was constructed and is valued at $300,000.  This also provides local jobs.

    S.E.E.D. is aware of the benefits recreational activity brings to a town and how important Emergency Services are to the well-being of Stuart citizens.  Subsequently, they became the recipient of a grant to construct a walking/biking trail that is currently situated around the old athletic complex; and traded land with the City of Stuart so a helipad could be constructed to provide Life Flight an area to land in emergencies.

Membership in SEED:

Joining the Stuart Enterprise for Economic Development is a great way to help make yourself a part in improving the quality of life and business in Stuart. Below is an application form with more information on joining.


Current Members:

Varley Law Office
Stuart Realty
Tom Smull
Town & Country Insurance
South Summit
Patrons Mutual
Adair County Health Systems
Stuart Utilities
Shaw-Belden Insurance Agency
Rose Acres Farms

What is SEED?

Recent Projects


Wambold Addition

The Wambold Addition is a new housing development on the eastern side of Stuart built to encourage community development and to encourage people to move to Stuart. The development consists of 32 lots that were mapped along a new road built as an extension of 2nd Street. The majority of the lots have already been claimed, with many houses constructed. For more information on the project, visit the full page here.

Community Visioning Program

Stuart is one of ten communities chosen to participate in the Iowa Living Roadways Community Visioning grant program.  This is a partnership between Trees Forever, Iowa State University, the Iowa DOT, and private landscape architects from Bolton and Menk. The project looked at what various improvements could be made to Stuart’s roadways, sidewalks, and park development. For more information on the project, view the full page here.