My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
1989-08-01-R
CITY-OF-BATESVILLE
>
City Clerk
>
Resolutions
>
1989
>
1989-08-01-R
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
6/8/2016 1:53:04 PM
Creation date
6/8/2016 1:53:04 PM
Metadata
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
4
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
qW <br /> RESOLUTION NO. 0 —S I <br /> RE USE PLAN <br /> CITY OF BATESVILLE <br /> I. GOALS AND OBJECTIVES OF REUSE PLAN <br /> The objective of the Re-Use Plan is to stiaulate industrial <br /> development with job creation the primary goal. The <br /> recaptured funds will be distributed to private enterprise <br /> through a revolving loan fund. <br /> The recaptured funds shall be held in an interest bearing <br /> account separate from other city funds. The funds shall be <br /> available as loans to approved private industry and <br /> businesses for start-up. expansion or relocation within a <br /> one mile extension of the city. <br /> II. STRUCTURE OF THE REVOLVING LOAN FUND <br /> The recaptured grant funds shall be reserved to capitalize a <br /> revolving loan fund. <br /> A. Any private enterprise may submit an application for a <br /> revolving loan. <br /> B. Specific requirements of the revolving loan program are: <br /> 1. The potential business must relocate within a <br /> one-mile extension of the city limits. <br /> 2. The loan amount will be determined on a case-by-case <br /> basis at a term and conditions to be set by the city <br /> council at the time the loan is made. subject to the <br /> following limitations: <br /> a. The minimum interest rate shall be negotiated with <br /> a spread of two to six points below the prime <br /> lending rate. The lower interest rates will be <br /> considered for a high job-creation ratio and/or <br /> short-term first mortgage loan. <br /> b. The term of the loan shall not exceed five (5) <br /> years. <br /> 3. The loan may not exceed 25% of the total project <br /> (W cost. <br />
The URL can be used to link to this page
Your browser does not support the video tag.