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EDA 4 <br /> Business Incubator Program <br /> Sept.9, 1996 <br /> costs <br /> • What are the potential to the EDA involved in this <br /> project? <br /> Attached for your review is an analysis of the two scenarios which <br /> have been discussed in this memo. The attachment provides a <br /> detailed analysis of the two alternatives which are currently being <br /> pursued. As you can see, the former administration building is <br /> financially more feasible than the private party. <br /> • What services will Harlan Jacobs provide to the project? <br /> Harlan Jacobs, Genesis Business Centers, has initially discussed with <br /> staff a fee of$500 $750 per month for on-going services which he <br /> would provide to the business incubator. Mr. Jacob's services would <br /> include such things as recruitment of tenants and counseling. In <br /> addition, Mr. Jacobs would be providing additional counsel to the EDA <br /> when necessary. <br /> It is staff's perspective that Mr. Jacobs brings a real asset to the <br /> business incubator program, especially in its infancy. However, staff <br /> will continue to discuss alternative financial arrangements between <br /> Genesis Business Centers and the EDA far on-going services in the <br /> • event that the business incubator project proceeds. <br /> IV. Conclusion <br /> In conclusion, it is appropriate at this time for the EDA to discuss in <br /> detail the aspects of the business incubator model and the EDA's future <br /> potential involvement in this project. It is necessary also for the EDA to <br /> be fully aware and accepting of the financial risks involved in such a <br /> project, should it proceed. <br /> s:\eda\meetings\busincpr.doc <br />