Edge finance committee update 2 17 16

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


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


Jobs: 4 New


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


Jobs: 2 Existing


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


Jobs: 1 Existing


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

Economy & Finance

Edge finance committee update 2 17 16