HomeMy WebLinkAbout1992 13_Request for CDBG_1992.09.01WHEREAS, Title I of the Housing and Community Development Act of 1974, Public
Law 93-383, as amended, authorized the Secretary of Housing and Urban Development, as
representative of the United States of America, to grant to the State of Oklahoma Funds and
administrative responsibility for the "Small Cities Community Development Block Grant"
ogram; and
WHEREAS, the City of Owasso is a local unit of general purpose government and has
provided opportunity for input by residents in determining and prioritizing community
development needs; and
WHEREAS, the statement of community development needs is attached to this
Resolution;
NOW THEREFORE, BE IT RESOLVED by the City Council that the City of Owasso
desires to obtain assistance in community development and hereby requests the Oklahoma
Itepartment of Commerce to provide assistance under the policies, regulations and procedures
applicable to local communities in Oklahoma.
ATTEST-.
Jai Buchanan, Ci lerk
OKLAHOMA DEPARYMENT OF COMMERCE
COMMUN=DEVELOPMENT
BLOCK GRANT
FY °92 ECONOMIC DEVELOPMENT FINANCING
APPLICATION SUMMARY
Sponsor /Legal Applicant:
Business to be Assisted:
Name of Applicant: City of wasso
Firm Max Buchanan Company
Mailing Address: 207 South Cedar
Name of Principal and Title: Max Buchanan, President
Owasso, OK 74055
Mailing Address: P.O. Box 3863
ione Number: (918) 272-2251
Springfield, MO 65805
Phone Number: (9f18) 234-7202 (Tulsa)
County: Tulsa
Contact Person: Steve Lurvey, Manager
Contact Person: Steve Compton
SIC Code:
Applicant's FEI Number: 73-6069613
Name of Applicant's Proposed Local Trust /Authority:
Brief Description of Project:
Owasso Economic Development Authority
Local Trust Mailing Address:
Relocation and expansion of Max Buchanan Company,
207 South Cedar
currently located in rin eld, Missouri, to a new
industrial building in 7e ?Itty Owasso. The
Owasso, OK 74055
of project
includes the extension of water and sewer utilities and a
Phone Number: (918) 272-2251
new street extension to serve the building site.
Contact Person: Steve Compton
Project Budget Summary:
CDBG-EDF Funds Requested $154,162
Application Preparer /Packager (if other than the company):
Private Investment Monies $—
Name: Andy Armstrong, INCOG
Public Investment Monies $--6.75E
Mailing Address: 201 West 5th, Suite 600
Other Investment Funds $Mm
Tulsa, OK 74103
TAL PROJECT FUNDING $ZIM
Phone Number: (918)584-7526
Sources of Funds and Amounts Other Than CDBG:
Number of New Lobs Created (FTE):
A. DOT Industrial Access $-6&M
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A. Within 12 �
B. O.E.D.A,
on s 10
C.
B. Within 24 Months 6
D.
C. Beyond 24 Months 4
E.
Existing Lobs: 30 TOTAL
F.
* Defined as 6 months
Project Duration (Number of Months): 30
Financial Leverage:
Total Project Costs:
Certification and Legal Authority:
Minus CDBG Funds Requested:
We, the undersigned hereby certify that this application la
is complete M contains no misrepresentation
Equals
and
accurate and correct in all facts, (c) may be relied upon as
true representation of the financial condition of
Divided By CDBG Funds Requested: $IdLl
all parties
and the nature of the project. We further certify that all
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subsequent documentation shall be also accurate co
Equals 2.71:1 Ratio CDBG-EDF to Other Vs.
and void of misrepresentation. This document flas bee n
duly authorized by the body
Previous CDBG
governing of the
applicant/sponsor. The company,
Awards:
Company: Woods Precision Products, Inc.
guarantors, and other
required to submit pro rietary information and financial
disclosures are, by the ac? of applying n for CDBG-EDF funds,
Ytheg
.-�mount of Award: $225,CCO Year 1990
authorizing the distribution of information to such
persons as may be required for the review approval, and
Current Loan Status: Current
administration of the loan. They are afso, authorizing
reference and background investigation, and inquiries in
(Attach additional sheet, if necessary)
their credit.
Amount of Applicants Revolving Loan Account: 1
SIGNATURE AND DATE:
$ As of / /
Date
Packager:
Company:
Applicant