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The Nest Project Summary <br /> � • Building Size: 18,000sf <br /> • Total Project Costs: $4,081,510 <br /> ... <br /> FundingSources <br /> Prkatc Lgnit,&Loan $2,86 Q,829 <br /> State Histor T Credits $1,020,681 <br /> E E E E 0 Storefront a�n Grant $50,000JNA <DBG EDF <br /> Loan $150,000 <br /> owo—� BusinessCommitments <br /> - ° Phoenix<ofr•e(1,000 sd)The chain's 6th<le,-eland location. <br /> Shuffleboard <br /> Sl flet U roupB C Rt t(C 0 f) <br /> 1 t i \ t i I"Forest Cn <br /> Shuffleboard"bd leaturing a fell eice <br /> bar/restaurant l if]� Lt to booths. <br /> y I l cudae Colleen,c(5,400 sh ,1 In alon 1 road i unique se,ices that has tgrown <br /> their current space outside the Cite.Hcuda<will expand their lootprintand operationsin The Nest. <br /> Terms Summary Terms Summary <br /> Loan Terms CDBG Job Creation Terms <br /> ° 0%Interest/No Payments ° No tea-er th 2�mea-,pe anent,tnLL t e.egmialcnt(CTL)jots must be created by tenant 1 sines— <br /> ° Iorgii lLc o,crhie Oscars at 53Q,000 per annum within12m thsfollowig completion of the funded project. <br /> ° [orgii .is predicatedupon sat slaetion of all LDI Loan terms,nclud ig timely pro legit completion and ° ,1t least 51"/,or 13 of the j 1 s created must be suitable for and tilled by Iom-m I.ate income(I MI) <br /> f hiilment of the total and low-moderateincome to creation and hiring goals. persons earl „Less than 80"-,of the Area Median Income(1M1)established annualIv by the L.S. <br /> ° To secure the Cin s -stment,a 57 50,000 Lie wdL be placed on 12501 Madiso—Vernic in the form of Department t Housing L rban Dc,-clopment(I It D). <br /> an Op i Lnd Mortgage ° The D—loper must submit semi-annuall ob Creation C Hiring Reports docu t ig actual j 1 reaoo <br /> ° A Sec -.i Promisson Notc m thecunt of S7 50,000will also be executed with LittL lemmp,LLC. and hiring by tenant businesses.s a direct result of tl_.funded project for the duration of tl L i, nterm <br /> ° The expenditure of<n Loan funds is restricted to soft cost including a hne,emxc/d:gnu Leal, ° I ilure to fuffill(T)BG job creation and hiring requ vents within the performance period constitute, <br /> accounting,and historic tax credit consulting and other(T)BG-eligible,<t approi-ed fees dircctlp loan netault. <br /> associated with the funded Project. <br /> ° <br /> Dcicloper must submit imoiees andproof of l vmcnt associated with totaling qualil vingexpenses in the <br /> amount of$150,000. <br />