edge finance committee update 2 17 16
TRANSCRIPT
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ECONOMIC DEVELOPMENT
FINANCE COMMITTEE February 3, 2016
ICED Loan Applicants: 4
Loan Commitments: $78,689
Capital Investment: $257,799
Jobs: 18
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APRIL HOUSE PREMIER 5406 Republic Drive
Loan: $25,000
Capital Investment: $151,890
Jobs: 3 Existing
8 New
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PROPOSED USE OF FUNDS
Carpentry, Drywall and Paint Drop Ceiling, Electric and Lighting Plumbing Future Phases Remaining Build-Out, Plumbing & Elec. HVAC Upgrade
APRIL HOUSE PREMIER 5406 Republic Drive
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MAAE’S MARKET 2063 Castex
Loan: $21,499
Capital Investment: $32,249
Jobs: 4 New
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PROPOSED USE OF FUNDS
Roof Interior & Exterior Stabilization Deli Case Electrical Service Installation Exterior Signage HVAC Installation Concrete Ramp, Steps & Handrail Exterior Imp. Roof, Gutters & Gable Tile Floor, Sheet Rock & Interior Paint Fence 3 Compartment Sink, Faucet, Plumbing
MAAE’S MARKET 2063 Castex
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MAJOR & SON MASTER MUFFLER 2207 Airways
Loan: $25,000
Capital Investment: $62,865
Jobs: 2 Existing
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PROPOSED USE OF FUNDS
Improve Shop and Upgrade Equipment Install New Sign Replace Overhead Doors Refurbish Office, Reception & Exterior
- Demolition - Paint - Welding Tank Storage - Drop Ceiling - Restrooms - HVAC
Replace Roof Construct Building Addition Pave Side and Front Parking Lot
MAJOR & SON MASTER MUFFLER 2207 Airways
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RESTORATION HOUSE
BOXING ACADEMY 4050 North Watkins
Loan: $7,190
Capital Investment: $10,795
Jobs: 1 Existing
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PROPOSED USE OF FUNDS
Construct Interior Walls Brace Walls Repair Roof Finish Windows Install Rubber Flooring Paint
RESTORATION HOUSE
BOXING ACADEMY 4050 North Watkins
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ICED Funds ICED Funds ICED Funds Total Capital Investment Total Capital Investment Total Capital Investment $0
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
$1,400,000
$1,600,000
2014 2015 2016 YTD
7 Applicants 60 Jobs $170,000 ICED Funds Committed $1,406,625 Capital Investment
16 Applicants 149 Jobs $393,310 ICED Funds Committed $1,235,701 Capital Investment
INNER CITY ECONOMIC DEVELOPMENT LOAN FUND ACTIVITY
4 Applicants 18 Jobs $78,869 ICED Funds Committed $257,799 Capital Investment