Citizens Advisory Review Committee

CITIZENS ADVISORY REVIEW COMMITTEE Tuesday, January 12, 2021 – 12:00 p.m. 400 East Military, Fremont, Nebraska (attendance is limited) and Zoom Topic: Citizens Advisory Review Committee Time: Jan 12, 2021 12:00 PM Central Time (US and Canada) Join Zoom Meeting https://zoom.us/j/91307278801?pwd=amgyaEF6N2t2OXF4c3REdDNPc0xUdz09 Meeting ID: 913 0727 8801 Passcode: 166547 One tap mobile +16699009128,,91307278801# US (San Jose) +12532158782,,91307278801# US (Tacoma) Dial by your location +1 669 900 9128 US (San Jose) +1 253 215 8782 US (Tacoma) +1 346 248 7799 US (Houston) +1 646 558 8656 US (New York) +1 301 715 8592 US (Washington D.C) +1 312 626 6799 US (Chicago) Meeting ID: Meeting ID: 913 0727 8801, Passcode: 166547 Find your local number: https://zoom.us/u/ad2Aqx6EaY Telephone Audio Information Call: +1 301 715 8592 US Enter Meeting ID: Meeting ID: 913 0727 8801, Passcode: 166547 You will be connected to the meeting. If making a comment during a public hearing or comment period please press *9 to electronically raise your hand allowing the Chairman to call on you. Once called upon to speak please press * 6 to unmute your phone; press * 6 again to mute when finished speaking Page 1 of 27  CITIZENS ADVISORY REVIEW COMMITTEE Tuesday, January 12, 2021 – 12:00 p.m. 400 East Military, Fremont, Nebraska and Zoom 1. Call to Order 2. Approval of minutes from December 15, 2020 meeting. 3. Review Fund Balance. 4. Consider Application from New Horizons Cold Storage, LLC for a Local Option Economic Development Fund loan. 5. Consider Amending Summit Medical Staffing, LLC Local Option Economic Development Loan. 6. Consider staggering committee member terms. 7. Adjourn. This agenda was posted at the Municipal Building and was distributed to the members of the Citizens Advisory Review Committee on January 6, 2021. The official current copy is available at City Hall, 400 East Military Avenue. A copy of the Open Meeting Law is posted for review by the public. Page 2 of 27  CITY OF FREMONT CITIZEN ADVISORY REVIEW COMMITTEE DECEMBER 15, 2020 – 12:00 P.M. A meeting of the Citizen Advisory Review Committee was held on December 15, 2020 at 12:00 p.m. at 400 East Military Avenue, Fremont, Nebraska. The meeting was preceded by publicized notice in the Fremont Tribune and the agenda displayed in the Municipal Building. The meeting was open to the public. A continually current copy of the agenda was available for public inspection at the office of the City Administrator, 400 East Military Avenue. The agenda was distributed to the Citizen Advisory Review Committee on December 9, 2020 and posted, along with the supporting documents, on the City’s website. A copy of the open meeting law is posted continually for public inspection. ROLL CALL Roll call showed Members Johannsen, Wiese, Proskovec, Schulz, and Martinez present. 5 present, 0 absent. Others in attendance included Lottie Mitchell, City of Fremont, Garry Clark, Greater Fremont Development Council; and Andrew Stamp, Elemetal. APPROVAL OF MINUTES FROM OCTOBER 27, 2020 MEETING. Moved by Member Wiese and seconded by Member Proskovec to approve the minutes of the October 27, 2020 meeting. Ayes: Johannsen, Wiese, Proskovec, and Martinez, Schulz abstained. Motion carried 4-0-1. REVIEW FUND BALANCE. Mitchell reviewed fund balance. No motion received. CONSIDER APPLICATION FROM FABRICATION HOLDINGS, LLC DBA ELEMETAL FABRICATION AND MACHINE FOR A LOCAL OPTION ECONOMIC DEVELOPMENT FUND LOAN. Mitchell gave overview. Andrew Stamp gave overview and answered questions. Moved by Member Proskovec and seconded by Member Wiese to approve Local Option Economic Development Fund Application from Fabrication Holdings, LLC DBA Elemetal Fabrication and Machine. Ayes: Johannsen, Wiese, Proskovec, Martinez, and Schulz. Motion carried 5-0. ADJOURNMENT Moved by Member Proskovec and seconded by Member Martinez to adjourn. Ayes: Johannsen, Wiese, Proskovec, Martinez, and Schulz. Motion carried 5-0. Meeting adjourned at 12:19 p.m. Page 3 of 27 1 Agenda Item #2 City of Fremont Nebraska Status of LB 840 Funds 12/31/2020 Premilinary Estimate Assets: Checking 272,861.20 Money Market 2,367,353.25 Investments 2,500,000.00 5,140,214.45 Capital Transfers 0.00 5,140,214.45 Known Committed Funds: Tech/Bus Park Res 2011-047 420,000.00 Tech/Bus Park Res 2013-095 1,055,291.10 Morningside Business Park Res 2013-095 172,675.14 Morningside Business Park - Johnson Rd South Res 2019-186 0.00 505 Brewing Co Res 2019-240 0.00 Summit Medical Staffing Res 2020-111 100,000.00 WLG Fremont Res 2019-038 0.00 Wholestone Farms Res 2020-052 1,300,000.00 Tech Partners LLC Res 2020-225 0.00 Elemetal Fabrication Res 2020-266 200,000.00 Tech/Bus Park Resolution 2011-047 975,392.00 4,223,358.24 Uncommitted Funds 916,856.21 Page 4 of 27 Agenda Item #3  STAFF REPORT TO: Citizens Advisory Review Committee FROM: Lottie Mitchell, Grant Coordinator DATE: January 12, 2021 SUBJECT: Local Option Economic Development Fund Application for New Horizons Cold Storage, LLC Recommendation: Consider application from New Horizons Cold Storage, LLC for a Local Option Economic Development Fund loan. Background: The City of Fremont has a Local Option Economic Development (LB840) Plan (the Plan) and loan fund for the purposes of creating new jobs, expanding the labor market, retaining existing jobs, attracting new capital investment, broadening the tax base, and providing economic diversification to ensure economic stability and vitality for the City of Fremont and surrounding areas. Applications are submitted to the plan administrator (City of Fremont) for review. Once the plan administrator has reviewed and determined the application is eligible for LB840 funds, the application is reviewed by the Citizens Advisory Review Committee (CARC) and the Local Option Review Team (LORT). The CARC reviews the application from the standpoint of compliance with the Plan. The LORT reviews the application from the standpoint of project feasibility and the potential future economic benefit to the community of Fremont. Both committees make recommendations to the City Council. The City Council will then consider the overall benefits to the community and will have final authority on approval of the application. Compound Holdings, LLC, the parent company of New Horizons Cold Storage, LLC, the operating company, is proposing to design, build, own, and operate a cold storage warehouse, distribution and manufacturing facility on a 52-acre site located northwest of the intersection of North Yager Road and County Road T. Compound Holdings, LLC, will be the owner of the real estate and responsible for development of the real estate; while operations will be the responsibility of New Horizons Cold Storage, LLC. Compound Holdings, LLC, is working through the process to be annexed into the City of Fremont. Phase 1 of the facility will be approximately 200,000 square feet with the potential for expansion based upon customer demand. New Horizons Cold Storage, LLC, is targeting customers in a 40-60 mile radius of Fremont. Products will be blast frozen and exported and shipped domestically by container and rail. Compound Holdings, LLC is projecting to close on the property in April, 2021 and start construction immediately. The facility is anticipated to open in February, 2022. New Horizons Cold Storage, LLC has committed to creating 51 jobs with an average wage of $42,000 plus benefits for Phase 1. While the timeline for Phase 2 has not been determined at this time, this second phase would create an estimated additional 25 jobs and result in increased blast capacity, storage capacity, and value-added services. Page 5 of 27 Agenda Item #4 Compound Holdings, LLC is an eligible business under Fremont’s Local Option Economic Development Plan as their principal source of income is derived from the processing, storage, transport or sale of goods or commodities which are sold or traded in interstate commerce. The current project costs are estimated at approximately $40 million. Staff recommends an award of $500,000 with 100% forgiveness. Compound Holdings, LLC has requested consideration for an increased amount of $1,000,000 with 100% forgiveness. Both parties agree the forgiveness will be based on performance measures below and contingent upon the closing of the sale of property northwest of the intersection of North Yager Road and County Road T: • Year 1 - Minimum investment of $30 million • Year 2 – Total of 25 full-time equivalent jobs created by end of the second year and retain for period of five years; and, • Year 3 – Total of 35 full-time equivalent jobs created by end of the third year; and retain for period of five years; and, • Year 4 – Total of 51 full-time equivalent jobs created by end of the fourth year; and retain for period of five years. The fund balance is $916,856.21 and generates between $75,000-$90,000 monthly. Fiscal Impact: Local Option Economic Development Fund - $500,000. Page 6 of 27 Agenda Item #4 Page 7 of 27 Agenda Item #4 Page 8 of 27 Agenda Item #4 Page 9 of 27 Agenda Item #4 Page 10 of 27 Agenda Item #4 Page 11 of 27 Agenda Item #4 Page 12 of 27 Agenda Item #4 Page 13 of 27 Agenda Item #4 Page 14 of 27 Agenda Item #4 Page 15 of 27 Agenda Item #4 APPLICATION NARRATIVE Brief Description of the proposed project. Compound Holdings, LLC, the parent company of New Horizons Cold Storage, LLC, the operating company, proposes to design, build, own, and operate a Warehouse/Distribution and Manufacturing Facility on a 52 acre site located northwest of the intersection of North Yager Road and County Road T. Compound Holdings, LLC, is working through the annexation process to be annexed into the City of Fremont. Compound Holdings, LLC, will be the owner of the real estate and responsible for development of the real estate; while operations will be the responsibility of the operating company, New Horizons Cold Storage, LLC. Phase1 of the planned facility will be approximately 200,000 sq. ft., with potential for expansion based upon customer demand. New Horizons Cold Storage, LLC, is targeting customers in a 40-60 mile radius of Fremont. Products will be blast frozen and exported and shipped domestically. Majority of shipments will be by container and rail. Current project costs are projected to be around $40 million dollars. Phase1 will create 51 employees, with an average annual wage of $42,000, plus benefits. Compound Holdings, LLC, is projecting to start construction in April, 2021; with facility to open in February, 2022. Phase 2 would result in increased blast capacity, storage capacity, as well as additional value added services. Site size of 52 acres, provides significant expansion opportunities for City, County, State, as well as New Horizons Cold Storage. Project has not started. The site has been identified and closing is contingent on due diligence, which is in progress. Owners Background Compound Holdings, LLC, is a special purpose entity formed to pursue ground up development of a new refrigerated warehouse/distribution and manufacturing facility. The principles of Compound Holdings, LLC, have extensive experience in the development and construction of industrial and warehouse property. Millennium is the preferred contractor and has completed projects nationwide for a number of national warehouse operators. Compound Holdings, LLC, has assembled a team of experienced industry professionals to manage the New Horizons Cold Storage, LLC, operation. Page 16 of 27 Agenda Item #4 Project Information Commitment on number of jobs and wages: Commitment on number of jobs is 51 and the average annual wage is $42,000, plus benefits. Hiring schedule is projected to be: At opening, estimated for February, 2022 25 employees January, 2023 35 employees January, 2024 51 employees Sources of Funds Compound Holdings will use a combination of owners’ equity, capital from existing business, and strategic investors along with Economic Incentives to fund the Project; which includes extensive infrastructure expenses. Company is working with City, County, and State on an Economic Package that will include, in addition to the LB840 Program, Nebraska Advantage, SBDF, Customized Jobs Training, TIF, and the NDOT. Description of Impact of Project on Applicant and Community Impact on Community Impact on Community will be significant as New Horizons Cold Storage will employ 51 employees, with an average annual salary of $42,000; resulting in a projected annual payroll of over $2.2 million dollars. Comprehensive benefits package will be available to employees. Approximately 100 acres of land will be added to City of Fremont’s tax base; as a result of annexation. Capital investment in Phase 1 will be around $40 million dollars. Facility Campus is being designed to add to the appearance of the Facility and the surrounding grounds. As a result of this Project there will be up-grades in area road infrastructure; which will a benefit for attracting other business to the area. Project will include the installation of a rail switch and siding; which will reduce the outbound truck traffic. Even with the rail installation, will be additional truck activity; resulting in increased fuel tax receipts. Site size of 52 acres provides adequate space for additional expansions; resulting in increases of capital investment, increased employment; which will increase the Fremont tax base. Page 17 of 27 Agenda Item #4 Impact on Applicant (New Horizons Cold Storage, LLC) Compound Holdings, LLC, realizes the impact of selecting Fremont as the location for the first Warehouse/Distribution and Manufacturing location, under the operating company of New Horizons Cold Storage, LLC. based upon: Location of Fremont. Customer base in a 40-60 mile radius. Site provides opportunities for expansion opportunities. Quality workforce. Cooperation and over-all support from City, County, and State. Competitive Utility rates. Infrastructure both in place and ability and cooperation to assist in requested improvements; will enable both in-bound and out-bound shipments to be handled in an efficient manner. Page 18 of 27 Agenda Item #4  New Horizons Leadership Team Anne Adam: Anne is the CFO of A Holding Company, LLC. Following a career in public accounting, Anne has worked predominantly in the meatpacking industry where she has served as International Finance Director at Smithfield in Kansas City/Smithfield, Audit and Controller at Seaboard Corporation and Seaboard Foods, Controller at JBS in Ottumwa, and consultant on the production side. Anne has significant experience in creating efficiencies in logistics and transportation, working with cold storage facilities and streamlining export documentation. Anne is passionate about integrating the supply chain from producer to customer. Chris Kennedy: Chris has been in the cold storage industry for 27 years holding senior leadership positions in the largest cold storage companies in the world. Over the last 15 years Chris has primarily focused on the international protein market starting up a number of facilities as well as streamlining existing facilities. Roger Rau: Roger's career started with John Morrell as a Sales Representative, moving into Product management, and finally General Manager. Roger has over 30 years’ experience in the Public Refrigerated Industry. He has had experience as a Plant Manager, Regional Vice President of Sales and Operations, Senior Vice President of Sales and Operations, Senior Vice President of Development. He has extensive experience in growth and expansion operations, strategic planning, economic development, and effective Action Planning. Adam Brantman: Adam is co-Managing Partner of A Holding Company, LLC and currently serves as President of portfolio company, Brava Roof Tile. In addition to his experience at Brava Roof Tile, Adam has been instrumental in developing and executing on AHC investment strategy. Prior to AHC, Adam was a practicing attorney specializing in real estate and business transactions. Dan Ahrens: Dan has been on the cutting edge of the concrete construction business since 1982. A true pioneer in the concrete business, Dan has completed projects in 40 different states totally over 300 million square feet. Along the way, Dan has had the opportunity to work with a number of industry leading cold storage providers and has been instrumental in building design that resulted in improved operations. Andrew Ahrens: Andrew is co-Managing Partner of A Holding Company, LLC and owner of Millennium Concrete, LLC. Andrew brings considerable experience in operations and in particular, the successful construction of warehouse and industrial buildings. Andrew is a project-oriented operator and prides himself on continuous improvement. www.newhorizonscold.com 5 Page 19 of 27 Agenda Item #4  STAFF REPORT TO: Citizens Advisory Review Committee FROM: Lottie Mitchell, Grant Coordinator DATE: January 12, 2021 SUBJECT: Summit Medical Staffing, LLC Local Option Economic Development Loan Amendment Recommendation: Consider application from Summit Medical Staffing, LLC to amend their Local Option Economic Development Loan. Background: The City of Fremont has a Local Option Economic Development (LB840) Plan (the Plan) and loan fund for the purposes of creating new jobs, expanding the labor market, retaining existing jobs, attracting new capital investment, broadening the tax base, and providing economic diversification to ensure economic stability and vitality for the City of Fremont and surrounding areas. Applications are submitted to the plan administrator (City of Fremont) for review. Once the plan administrator has reviewed and determined the application is eligible for LB840 funds, the application is reviewed by the Citizens Advisory Review Committee (CARC) and the Local Option Review Team (LORT). The CARC reviews the application from the standpoint of compliance with the Plan. The LORT reviews the application from the standpoint of project feasibility and the potential future economic benefit to the community of Fremont. Both committees make recommendations to the City Council. The City Council will then consider the overall benefits to the community and will have final authority on approval of the application. Summit Medical Staffing, LLC is a medical staffing agency that recruits and places medical professionals where they are needed across the United States. They moved to Fremont in May 2020 and have outgrown the facility they are leasing at 1840 N Bell Street quicker than they anticipated. They are in the process of purchasing approximately two acres in the Fremont Tech Park on North Lincoln Avenue in order to construct their own facility. The sale of the property is scheduled to close in February 2021 and they plan to start construction soon thereafter. Summit Medical Staffing received an LB840 award of $200,000 in May 2020 to be issued in two separate tranches. Each tranche is 50% forgiven. The first tranche of $100,000 has been issued and payments are being made on the 50% repayable portion. Summit Medical Staffing currently has 12 full time employees. They have committed to creating at least 55 additional benefited positions within four years of award. The average annual salary is $45,000, plus commission. The creation of these jobs will help the City of Fremont satisfy the job creation requirements of Community Development Block Grant 10ED009. Page 20 of 27 Agenda Item #5 Summit Medical Staffing, LLC is an eligible business under Fremont’s Local Option Economic Development Plan in that their principal source of income is derived from the sale of services in interstate commerce. The estimated cost for this project is $2,020,000. Summit Medical is requesting $500,000 with 100% forgiveness from the Local Option Economic Development (LB840) Fund. Staff recommends amending the original LB840 award by forgiving the remaining $46,894.64 of the repayable portion of the first tranche and changing the second tranche from $100,000 – 50% forgivable to $450,000 – 100% forgivable for a total award amount of $496,894.64. The 100% forgiveness will be based on performance measures listed below and contingent upon the closing of the sale of property in the Fremont Tech Park. • Retain 12 existing full-time jobs for period of five years; and, • Create 30 new full-time benefited positions by April 2022 and retain for period of five years; and, • Create additional 15 new full-time benefited positions by end of third year and retain for period of five years. • Create additional 10 new full-time benefited positions by end of fourth year and retain for period of five years The fund balance is $916,856.21 and generates between $75,000-$90,000 monthly. Fiscal Impact: Local Option Economic Development Fund - $496,894.64. Page 21 of 27 Agenda Item #5  City of Fremont, Nebraska Request for Assistance Agreement December 15th 20 Ashley Grohs, VP of Business Development THIS REQUEST, is made on this ____ date of ______, 20_____, by _________________________, Summit Medical Staffing, LLC, of _____________________________________________________________________________ (hereinafter referred to as “Applicant” to the City of Fremont, Nebraska hereinafter referred to as the “City”. WITNESSETH: WHEREAS, APPLICANT has requested the CITY to investigate the feasibility of obtaining a Local Option Development Plan Loan or Economic Enhancement Loan in connection with the financing of a project to be undertaken by APPLICANT. NOW, THEREFORE, in consideration of the request the following may be done. 1. City agrees to work with the Applicant to investigate the feasibility of obtaining financing through a Local Option Development Plan Loan or Economic Enhancement Loan for the Project. City will investigate the financial condition of Applicant and determine whether or not a Local Option Development Plan Loan Application or Economic Enhancement Loan Application is appropriate. City will submit the needed paperwork for a Local Option Development Plan Loan or Economic Enhancement Loan for the Applicant to the appropriate committees and City Council, if: • Applicant is within the eligibility criteria and the Project is likely to be approved by the City Council for a Local Option Development Plan or Economic Enhancement Loan, and; • All other elements of the Project can be financed and/or paid for through the infusion of equity capital by the Applicant. 2. If the City determines, in its sole discretion, that the Applicant is eligible for a Local Option Development Plan Loan or Economic Enhancement Loan, then, and in such event, City will advise and consult with the Applicant in the preparation by the Applicant for a complete set of Loan documents together with supporting exhibits, for the purpose of making applications for an Local Option Development Plan Loan or Economic Enhancement Loan (hereinafter referred to as the “Loan Package”). The Loan Package shall be for the sole benefit of the Applicant provided however, that such Loan Package shall be used by the City in connection with the Application for a City Loan on behalf of the Applicant, provided, however, that the Loan Package may be used by the Applicant in seeking financial assistance or guarantees from other governmental agencies and/or private lenders. 3. Applicant hereby acknowledges that the Applicant is charged with the actual responsibility of preparing the Loan Package, and that the City’s sole responsibility in connection with the preparation of the Loan Package shall be to consult with and advise the Applicant. The Applicant further acknowledges that the Applicant will be required to promptly and accurately supply financial information concerning the Project, the operation of Project, together with the manner, method and terms of financing the Project. Applicant further specifically acknowledges and agrees that the obtaining of a Local Option Development Plan Loan or Economic Enhancement Loan, or any other financing is dependent upon many factors that the City cannot control, including but not limited to economic factors and the decisions of the City Council, accordingly, the City does not guarantee that the Applicant will obtain financing for the Project. Applicant hereby covenants and agrees that the City shall not be responsible, in any manner, or liable to the Applicant or any other person in the event that the Applicant is unable to obtain a Local Option Development Plan Loan or Economic Enhancement Loan for the Project, or any other type of financing for the Project, whether from the City or any other governmental or public source, or from any private financing sources. Applicant also further covenants and agrees that the City shall not be liable for any of the debts or obligations incurred in and for the assistance of benefit of the Applicant. Applicant further agrees that the Applicant will hold the City harmless, and pay all costs and expenses, including attorney’s fees, in the event that any claim in made or lawsuit is filed by or against the City arising out of any transaction with or assistance to the Applicant which may in any way be connected with the Agreement. IN WITNESS WHEREOF, the parties hereto have executed, caused to be duly executed this Agreement, and have affixed or caused to be duly affixed hereto there seals, this ___________ December day of 15th _______________, 20_______. 20 APPLICANT BY: Page 22 of 27 Agenda Item #5 Local Option Economic Development Loan Fund and Economic Enhancement Fund Application (Application is an Official Public Document) Part I A. Business Borrower Information Name of Business to receive assistance: Summit Medical Staffing, LLC, Address: 1840 N. Bell St. ________________________ (City, State & ZIP) Representative Contact Information Ashley Grohs, VP of Business Development Name: Email: ashley.grohs@summitmedstaff.com Title: VP of Business Development Phone: 402-719-3400 Business Clarification (mark one) ☐ Manufacturing ☐ Research & Development ☐ Warehousing & Distribution ☐ Administrative Management ☐ Service Headquarters Federal Tax ID # Business Organization (mark one) ☐ Proprietorship ☐ Partnership ☐ ■ Corporation ☐ Other Does the Company have a Parent or Subsidiaries? ☐ Yes ☐ ■ No If yes, identify name: Address: ________________________ (City, State & ZIP) Business Type ☐ Start-up (0-5 years old) ☐ Buyout ☐ ■ Existing If existing, how many years in Business? 7 years, and we have spent the last 8 months in Fremont, NE Page 23 of 27 Agenda Item #5 Ownership Identification: List all officers, directors, partners, owners, co-owners and all stakeholders with 20% or more of the stock. Name Title Ownership % William "Bill" Watts President 60% Ashley Thomas Grohs VP of Business Development 20% Pete Geldes VP of Recruitment 20% Employment Information Personnel (Full-Time Equivalent, FTE is based upon 2,080 hours per year) Existing number of FTE Positions: Twelve FTE Positions to be created within _____months 36-48 Months of Application Approval: 55 additional full time positions If jobs would be lost without loan approval, total number of FTE jobs retained: 12 jobs What is the average wage for employees? 45,000.00 Base Salary Plus bonus Please describe all benefits which the business provides to employees: Above Median income base wage plus commission Health, Dental, and life Insurance Profit sharing plan Unlimited PTO Matching IRA B. Project Information Use of Funds Total Project Cost Loan Funds Requested Total Funds Land Acquisition 70,000 70,000 Building Acquisition Renovation New Facility Construction 1,200,000 500,000 1,700,000 Acquisition of Machinery/Equipment 100,000 100,000 Acquisition of Furniture/Fixtures 150,000 150,000 Working Capital (Includes Inventory) Other (Specify) Total 1,520,000 500,000 2,020,000 Project Schedule: Land Purchase 2/1/2021 Break Ground 3/31/2021 Raise Building 5/1/2021 Interior finishing 6/1-9/1/2021 Exterior finishing 9/1-10/1/2021 Move in and grand opening somewhere around in October 2021 Page 24 of 27 Agenda Item #5 C. Sources of Funds Note: Public sources of financing requires the participation of a Bank and/or an injection of equity (non-debt funds). Participating Lender Information: American National Name of Lending Institution: David Ulch Contact Person: 8990 W. Dodge, Omaha, NE Address: ______ 402-399-5016 Phone: (City, State & ZIP) Loan Amount: 1,000,000 $ Loan Term (Yrs): 20yrs Variable: Fixed: x Interest Rate: 2.75 Equity Required: 10% Collateral Required: Accounts Equity Information: using company profits Amount Available from business or owners for investment: $ 520,000 Source of owner’s equity into project into the project: Revenue from company funds Project Location: ☐ Within the City Limits (Fremont) ☐ Outside of City Limits but within the Zoning Jurisdiction of (Fremont) ☐ Unincorporated Area (Dodge County) D. Attach the Following (Items 8-13 shall be considered confidential) Brief Desription of the Business’ history: Established in December 2013. New Ownership came on board in early 2020 and relocated our Headquarters in Fremont, NE with an aggressive schedule for growth and expansion. Since relocating to Fremont the Company has grown by 1000% and we have outgrown our current office with no suitable location to turn to. We are still in a large growth market and we expect to triple our work force over the next 2 years Brief Description of the proposed project. Has any part of this project been started? We are building our vastly growing Headquarters that will be able to house us for decades to come. Providing the space that we can grow into and a space that can attract the talent that is so valuable to our business. We are still in the development stages of our planning with renderings and architecture drawings. We have recently entered into agreement to purchase two lots within the Technology Park and with our job growth initiative we will be able to help satisfy the requirements for the city of Fremont. Page 25 of 27 Agenda Item #5 Description of impact of project on Applicant and Community: This is an imperative project for us to complete to be competitive in our market space and our growth projections. The impact on the community we believe is also important to provide Higher waged positions for the local community. Have you ever declared bankruptcy? ☐ Yes ☐ No If yes, bankruptcy chapter: Case #: Date: 12/15/2020 Are there any unsatisfied judgments again you? ☐ Yes ☐ No Amount per month: To Whom: Are you a party to a lawsuit? no Give details: ☐ 3-year historical balance sheets and operating statements. Current statements less than 90 days old. (Exist- ing businesses only). Provide the following and reconcile to current balance sheet. ☐ Aging of Accounts Payable and Accounts Receivable ☐ List of current obligations ☐ Personal financial statement and resumes for each person owning 20% or more of the business. ☐ Credit Report from Credit Reporting Agency. Contact your bank for more information. ☐ Monthly cash flow analysis for the next 12 months and for new businesses, 3 months beyond the breakeven point. ☐ Indemnification Agreement ☐ Tax returns for the last two years. Once all documents have been received, the City of Fremont staff will review the application if it meets the Local Option Economic Development Plan Fund or Economic Enhancement Loan Fund eligibility requirements. If eligi- ble, a meeting will be scheduled with you. The above information is accurate to the best of my knowledge and belief. The above information is provided to help you evaluate the feasibility of obtaining public financial assistance. I understand that pages 1-3 of the applica- tion are public information and are subject to public disclosure during the application process. Signature Dated 12/15/20 Page 26 of 27 Agenda Item #5  STAFF REPORT TO: Citizens Advisory Review Committee FROM: Lottie Mitchell, Grant Coordinator DATE: January 12, 2021 SUBJECT: Consider staggering committee member’s terms. Recommendation: Recommend City Council approve staggering committee member terms. Background: The Citizens Advisory Review Committee is comprised of five appointed members. Currently all five member’s terms end at the same time, February 2024. Staff recommends staggering the terms as shown: • 2 members in 2022 • 2 members in 2023 • 1 member in 2024 All members are eligible for reappointment. Page 27 of 27 Agenda Item #6