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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
APRIL HOUSE PREMIER 5406 Republic Drive
Loan: $25,000
Capital Investment: $151,890
Jobs: 3 Existing
8 New
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
MAAE’S MARKET 2063 Castex
Loan: $21,499
Capital Investment: $32,249
Jobs: 4 New
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
MAJOR & SON MASTER MUFFLER 2207 Airways
Loan: $25,000
Capital Investment: $62,865
Jobs: 2 Existing
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
RESTORATION HOUSE
BOXING ACADEMY 4050 North Watkins
Loan: $7,190
Capital Investment: $10,795
Jobs: 1 Existing
PROPOSED USE OF FUNDS
Construct Interior Walls Brace Walls Repair Roof Finish Windows Install Rubber Flooring Paint
RESTORATION HOUSE
BOXING ACADEMY 4050 North Watkins
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
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