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Value of Collateral <br />Book Value Cost Existing Liens <br />Land $ 500 $ 300 $ 300 <br />Buildings $ 1.39mm $ 800m $ I.lmm <br />Machinery & Equip. $ 600 $ 725m $ 300m <br />Other $ $ $ <br />Other $ $ $ <br />• RE owned by Bart C. Wells, LLC <br />• Equipment is owned by BC Wells, Company (Sub S Corp) <br />Both 100% owned by Barton C. Wells <br />IV. JOB & WAGE GOALS <br />Present # of Employees 1 Total Payroll $4m per month <br />Jobs To Be Created* <br />PIPacP nrnvirle the fnllnwinv infnrmati~n nn iobs you extiect to create Within 2-years. <br /> <br /> <br />job Title <br />Number <br />of Jobs Average <br />Hourly <br />Wage <br />Annual <br />Salary Are the Jobs <br />Permanent or <br />Temporary? Expected <br />Hiring <br />Date <br />Sales 2 $40m Permanent 8-1-8 <br />Assembly 4 $15+ Permanent 8-1-8 <br />Secretarial 1 $15+ Permanent 8-1-8 <br /> <br /> <br /> <br />*If loan is for job retention only, please explain m business flan. <br />Program Objectives <br />(Check all that apply) <br />_X_ The project contributes to the fulfillment of the city's approved and adopted <br />economic development and/or redevelopment plans. <br />The project prevents or eliminates slums and blight. <br />X_ The project increases the local tax base. <br />The project brings a structure into compliance with an existing building code <br />violation. <br />tilicro Loan Fund l~pplication Page 12 of 14 <br />emended November 2006 <br />