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a. Building construction Formatted:Numbered+Level: 1+ <br /> b. Building Purchase Numbering Style:a,b,c,...+Start at: 1+ <br /> Alignment:Left+Aligned at: 1"+Indent at: <br /> b. Land acquisition 1.25' <br /> c. Machinery <br /> d. Furniture,fixtures,and equipment(FF&W <br /> e. Renovation and modernization of buildings <br /> g. Public infrastructure needed for economic development expansions <br /> h. Investment real estate with a minimum of 50%of the space pre-leased <br /> Ineligible Fund Uses: <br /> a. Expenditures for the construction and/or renovation of residential units Formatted:Numbered+Level: 1+ <br /> b. Inventory Numbering Style:a,b,c,...+Start at: 1+ <br /> Alignment:Left+Aligned at: 1"+Indent at: <br /> c. Refinancing of existing debt 1.25' <br /> b. Working capital <br /> Formatted:Indent:Left: 0.5" <br /> Downtown Revitalization Financing RregraFnLoan <br /> Purpose: The Downtown Revitalization Financing Loan is available to <br /> business and property owners in the Downtown Area primarily for the <br /> rehabilitation and restoration of older buildings,as well as new business <br /> development.Non-profit organizations may be considered. The <br /> Downtown Area shall be described as that area in the attached Exhibit <br /> A. <br /> Amount: Up to$74,999 of secondary financing not to exceed 40%of the <br /> total project cost. <br /> E Remaining <br /> Principle: Must have private-sector commitments for 50%of the project cost. <br /> Borrower must provide 10%or more of project€fttfteingcQst. <br /> Rate: Fixed at 2%. <br /> Term: Financing with a balloon payment in up to 5-years.Loans may be <br /> amortized up to the following limits: <br /> 20 years on real estate uses; <br /> 10 years on equipment uses. <br /> Extension: In the event that the Borrower is unable to_payoff the loan or <br /> refinance the Microloan at <br /> the end of five years,the loan may be extended up to two additional <br /> years at*-2 points below the lowest prime rate published in the Wall <br /> Street journal the day the loan is closed,or 3%,whichever is <br /> reater. f interest. Comment[OA2]:DEFINE <br /> Formatted:Highlight <br /> P 0 1 1 0 a B Y <br /> Page 8 of 29 NATUOREi <br />