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E lls <br />River` <br />Request for Action <br />To <br />Item Number <br />Housing and Redevelopment Authority <br />7.5 <br />Agenda Section <br />Meeting Date <br />Prepared by <br />General Business <br />May 1, 2017 <br />Amanda Othoudt, EDD <br />Item Description <br />Reviewed by <br />Truck Shop Forgivable Commercial /Industrial <br />Cal Portner, City Administrator <br />Loan application review <br />Reviewed by <br />Action Requested <br />Consider the following HRA Blighted Properties Commercial /Industrial Forgivable Loan application for <br />The Truck Shop. <br />Background /Discussion <br />The city received an application from The Truck Shop for a $75,000 HRA Blighted Properties Forgivable <br />Commercial /Industrial loan. The Truck Shop is a division of Beaudry Oil and is owned and operated by <br />Ken Beaudry. The project will consist of the construction of a new 7,216 sf facility to operate a light <br />maintenance facility for Beaudry Oil existing fleet vehicles. <br />Approximately 224 sf will be used for office and 1,600 sf for mezzanine storage on the northern quarter <br />of the building. Three overhead doors will be located on the west end of the building and three on the <br />east. The proposed facility will be constructed of block and will be approximately 20' -22' high. The Truck <br />Shop will provide for minor repair including oil changes, replacing tires, changing breaks, minor service, <br />light maintenance, cleaning and detailing for Beaudry Oil & Propane fleet only, not open to the public. <br />This project consists of the demolition and redevelopment of four existing residential homes across from <br />Beaudry Oil on CR1 /Proctor. <br />634 Quinn — <br />Applicant owns the property <br />620 Quinn — <br />Under Contract <br />633 Proctor <br />— Under Contract <br />623 Proctor <br />— Applicant owns the property <br />The application for forgivable loan funds will assist in the acquisition and demolition of 620 Quinn. Total <br />acquisition and demolition costs are estimated to be $84,600. <br />Analysis <br />The goal of the HRA Blighted Properties Commercial /Industrial forgivable loan program is to stimulate <br />private sector investment and help spur new construction, create and retain employment opportunities <br />and promote the sale and redevelopment of structurally substandard properties. <br />A Blighted Properties Commercial /Industrial forgivable loan is required to meet the following guidelines <br />and staff analysis is shown in Bold, alongside the applied policy: <br />i0 W I R I D 6 Y <br />4A UR <br />