6.3. SR 06-21-2004 - Laserfiche WebLink

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?:ooosed Proiect Fmancmz: Prorate E~' $47,056-czsk zoo~s p~cngsa~ 590,O00--comuanv !xbor EDA NSczo Loan ~!00,000 Total $1,180,556 Rebate Financing ~)'m rake :moun~ of ~145,556 ($72,778 ~om are CiV and ~7!,778 ~om ee Cou:V). The T~ ~ be assi~ed ~o The B~lk of ~ Paver and ~s: used :o pay the kEczo Lo~n. ToUs 'The company curzend7 employs 13 fuli-nzne staff, including 7 based and 6 ~. tn~=na and dsewhe:e. The psi~ons have ~ Eo~l7 wage be~een ~16-}75.00 per Eo~. TEe company zn~cip~es cze~.g up to 5 aery f~-~e ~obs es~amd ~,ages r~qgmg ~om $10-$75.00 ~vi~ 2-years. Micro Loan Criteria In addition to the fi2anci:d czitema O~,~t must be considered, the Finance Con'xmktee must also consider to wk~t de~ee ~_e appEcant satisfies dxe crite~z se~ fo~ ~ dxe a~ched N,~czo Loan Fund poEcy. ~e au~cked M~ch 4, 2003 F~ance Co~ee ~utes m~cate 2~at ~e Core'tree ~scussed that ~e ~100,000 IndusmM Incentive Program cEte2a sko~d con~ue to specie' ~at ~e bo=ower mus~ locate m ~e West Business Park. ~e EDA approved =~s and sevezM amendments to ake Ngc:o Lo~, PoEcy m Ap< of 2003. The EDA Sas recend7 :eSuested ~e F~ance Co~=ee's review and zeco~endaZon of pro~=m skoutd be eE=ible ciV-~4de. The anached Finance Co~ttee ~u:es and memo ~ · m~caae O~at ~e Fin=ncc Co,zee and EDA also ~scussed ~s issue m 1997 and 1999. O:a~ent Tec~olo~' kaz idenn~ed a 2.05 ac:e site m Business Park). Below ~e xd&~onai comp~sons be~veen k¢Eczo Loan c=te2z and ~e company's p:oposM: * iViz:. Loan Amoun:: $100,000 * InteP-st Raze: 4 beto~v p~.e, 2% floor * 1 job czeamd per 520,000 lo~ed * ~z. xve:=ge wage of }10 per hour *Loca~on: Wes: Business P~k Gradient Tec!-molo~r * Amoua~x recluested: $100,000 * Rate requested: ~ be!o'~ p~me, 2% ~ooz * 1 job cze~ted pea $20,000 loaned * Es~,ated ~v~ge r~,ge of $-I0-$7~ per *Locahon: East B=sLzess As m Fast b/ficro Low meem~gs, :b.e a=oiicant v:iE be given ~ oppo~mV =o present pzo~ec~ and appEczmon. FoEo~g ~e presenm~on d~e Finance Co~ttee may ~s~c quesuons of ~e approval. /ne ~pphcxn~ ~ ~%en be excused from ~e .... ~ ~owmg