HomeMy WebLinkAbout940047.tiff RESOLUTION
RE: ACCEPT REVOLVING LOAN FUND DIRECT ASSISTANCE AWARD FROM OFFICE OF BUSINESS
DEVELOPMENT AND AUTHORIZE CHAIRMAN TO SIGN
WHEREAS, the Board of County Commissioners of Weld County, Colorado,
pursuant to Colorado statute and the Weld County Home Rule Charter, is vested
with the authority of administering the affairs of Weld County, Colorado, and
WHEREAS, the Board has been presented with a Revolving Loan Fund Direct
Assistance Award from the Colorado Office of Business Development, in support of
Poulsen Ace Hardware, and
WHEREAS, after review, the Board deems it advisable to accept said award,
a copy of which is attached hereto and incorporated herein by reference.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
County, Colorado, that the Revolving Loan Fund Direct Assistance Award from the
Colorado Office of Business Development, in support of Poulsen Ace Hardware, be,
and hereby is, accepted.
BE IT FURTHER RESOLVED by the Board that the Chairman be, and hereby is,
authorized to sign said award.
The above and foregoing Resolution was, on motion duly made and seconded,
adopted by the following vote on the 5th day of January, A.D. , 1994.
OF COUNTY COMMI
ATTEST: �� � � WELD DCOUNTY, $OLOR DOSSIONERS
Weld County Clerk to the Board /L- 1/ /���' � ���
W-.- H. Webster, C airman
BY: / it 5 ��r
Deputy 1er to the _ Dale k. Ha , o- em (J
APPROVED AS TO FORM: / -J�c �t
I ,Ge ge Baxter / '
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ll my Attorne stance L. Harbert
/ Barbara J. Kirkm er
940047
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COLORADO
December 28, 1993
The Honorable George Kennedy
Chairman
Weld County Commissioners
918 10th Street
Greeley, CO 80631
Office of
Business Development
1625 Broadway,suite 1710 Dear Commissioner Kennedy:
Denver,Colorado 80202
(303)892-3840 I am pleased to inform you that the Office of Business
(303)892-3848fax
1-800-659-2656TDD Development (OBD) has approved a direct assistance award
of $100, 000 to Weld County in support of Poulsen Ace
Roy R.Romer
Governor Hardware (the Company) , a retail hardware store in Eaton
which operates under the national Ace Hardware
affiliation. The OBD considers this activity to be
separate from the Weld/Larimer Revolving Loan Fund (RLF)
activities, although you may want to contract with the
RLF to administer this award.
These funds will be used to provide a loan to the Company
for working capital which will result in the creation of
jobs for the community. This assistance will be made
available through the Community Development Block Grant
program upon the completion and execution of a contract
(which will include an environmental review requirement) .
The contract will be mailed to you in approximately ten
(10) days. It is our understanding that Weld County does
not have an existing commitment to the Company.
This commitment requires formal acceptance and a response
from both the County and the Company within forty-five
(45) days from the date of this commitment letter. If
not accepted within the time frame prescribed, this
commitment shall expire and its term will become null and
void.
940047
The Honorable George Kennedy
December 28, 1993
Page 2
Thank you for your fine efforts on behalf of the citizens of Weld
County. Please feel free to call upon Alice Kotrlik or myself at
(303) 892-3840 if you need further assistance during the course of
this project.
Sin rely,eleArte #zr
Jaime G. Gomez, Man er
Finance and Job Tr ning Programs
cc: William J. Argo, Weld/Larimer Revolving Loan Fund
Jodi Hartmann, Weld/Larimer Revolving Loan Fund
Russ Heppner and John Heppner, Poulsen Ace Hardware
File
ACCEPTED BY:
/x, , -1 --P / '5/g4
W..� H. -Webster, hairman OI//O/95L Date
Wel County Commissioners
A__-
Rus Heppner, Partner Date
Poulsen Ace Hardware
John Hepj2 er, JPartner Date
oulsen Ace Hardware
940047
Weld/Lorimer Revolving Loan Fund
P.O.BotS ...... .... .. .....
Greek§Colorado 80632 _., . .. ._
Telephone: (303)356-4565 - (303)352-2436('FAX)
Memo
TO: • Don Warden
FROM: Jodi Hartman �J
DATE: 1/4/93
RE: POULSEN HARDWARE CONTRACT
Attached is the commitment letter from OBD to Poulsen Hardware for the $100,000
CDBG loan for the company's retail expansion.
Because the Weld/Larimer RLF is technically in-between CDBG contracts and out of
funds, OBD has agreed to fund this project separately out of OBD's CDBG funds. In
order to do this they will need to contract with Weld County separately to fund the
project. Weld County will then subcontract with the Weld/Larimer RLF to close
and service the Poulsen loan. This project will be the only project on this CDBG
contract between OBD and Weld County.
We should receive the CDBG contract within the next two weeks. I anticipate that it
will be a similar contract to our existing contract. We will also need to draft a
subcontract agreement between the County and the Weld/Larimer RLF. Do you
want me to do that or will you?
Please let me know if you have any questions.
72 94004'7.
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