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Cottingham & Butler CEBA AppRESOLUTION NO. 106-01 A RESOLUTION AUTHORIZING THE FILING OF A COMMUNITY ECONOMIC BETTERMENT ACCOUNT (CEBA) APPLICATION ON BEHALF OF COTTINGHAM & BUTLER INSURANCE SERVICE, INC. Whereas, Cottingham & Butler Insurance Service, Inc., a local insurance services company, has proposed the expansion of its existing operations; and Whereas, the City Council of Dubuque, Iowa has considered said proposal and has determined that the proposed project will contribute to the local economy through the creation of quality jobs for area residents; and Whereas, the Iowa Department of Economic Development's Community Economic Betterment Account (CEBA) was designed to assist in the economic development efforts of local jurisdictions; and Whereas, the City of Dubuque, Iowa is eligible to apply for funding from the Community Economic Betterment Account program. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DUBUQUE, IOWA: Section 1. That the filing of an application for participation in the Iowa Community Economic Betterment Account program on behalf of Cottingham & Butler Insurance Service, Inc., is approved. Section 2. That the local match as identified in the application is hereby approved. Section 3. That the Mayor is hereby authorized and directed to execute and submit said application to the State of Iowa Economic Development Commission together with such documents as may be required. Terrance M. Duggan, Mayor Attest: Jeanne F. Schneider, City Clerk Passed, approved, and adopted this 19th day of March, 2001. / ~ Terrance an, Mayor F:\USERSB~nyhre\WPDOCS~LOANDOC\SECURITY~townclockcebaapp.res.wpd CITY OF DUBUQUE, IOWA MEMORANDUM March 13, 2001 TO: FROM: SUBJECT: The Honorable Mayor and City Council Members Michael C. Van Milligen, City Manager Cottingham & Butler Insurance Service, Inc. Community Economic Betterment Account (CEBA) Application Acting Commmtity and Economic Development Director Pam Mykre is recommending approval of a Community Economic Betterment Account (CEBA) program application on behalf of Cottingham & Butler Insurance Service, Inc. I concur with the recommendation and respectfully request Mayor and City Council approval. Michael C. Van Milligen - MCVM/jh Attachment cc: Ban~ Lindahl, Corporation Counsel Pamela Myhre, Acting Community and Economic Development Director ~ '8nbnqnd CITY OF DUBUQUE, IOWA MEMORANDUM March 12, 2001 TO: FROM: SUBJECT: Michael. Van M~.~ Pame~,ynre, Acting uomn~ty and Econon~c Development Director COTTINGHAM & BUTLER Insurance Service, Inc. Community Economic Betterment Account {CEBA) Application INTRODUCTION This memorandum presents for City Council review and approval a resolution authorizing the submission ora Community Economic Betterment Account (CEBA) program application to the Iowa Department of Economic Development on behalf of Cottingham & Butler Insurance Service, Inc. BACKGROUND Cottingham & Butler, a local insurance services company, has announced an expansion project involving the renovation of the historic Town Clock Building located at 835 Main Street, directly across fi.om their Security Building. The total project is estimated to cost $2.64 million with building renovation alone costing over $2 million. The company is also seeking a Downtown Rehabilitation Loan of $300,000 to support the renovation project. That request is the subject of a separate March 19t~ City Council agenda item. DISCUSSION Over the next two years, Cottingham & Butler will employ 60 new employees at an average startIng wage of$11.01 per hour. To help fund th/s expansion project, Cottingham & Butler has requested a partially forgivable CEBA loan of $180,000 which represents $3000 per new job created. The company's application states that this project will benefit the city in the following ways: provide 60 new jobs add over $1,375,000 in annual salaries to the area provide local vendors and tradesmen income and job opportunities restore and preserve a building that is significant to Dubuque history increase commercial office space enhance the downtown streetscape CEBA requires local financial participation in the project. Approval of the company's request for a $300,000 low-interest Downtown Rehabilitation Loan will serve as the public participation element of the application. RECOMMENDATION I recommend that the City Council authorize the submission of a CEBA application for a $180,000 partially forgivable loan on behalf of Cottingham & Butler with the City's commitment of local matching funds being a $300,000 Downtown Rehabilitation Loan. This project will have a positive impact on the revitalization of the city's downtown as an existing, vacant downtown landmark building will be renovated and reused. The project is consistent with the City's goals to expand local business, increase the number of higher wage jobs and further diversify our economic base. ACTION STEP The action step for the City Council is to adopt the attached resolution. attachment March 13, 2001 F:\USERS~myhm\WPDOC S~LOANDOC~SECURITY~towaclockceba.mem.wpd CEBA APPLICATION FOR BUSINESS FINANCIAL ASSISTANCE PAGE 7 APPLICATION FOR FINANCIAL ASSISTANCE APPLICANT INFORMATION: 1. APPLICATION TYPE (Please Check One): [~/] SMALL BUSINESS GAP FINANCING 2. THE COMMUNITY, CITY OR COUNTY SPONSORING THE APPLICATION: CITY OR COUNTY Dubuque NAME OF MAYOR OR BOARD CHAIR Terry Du,q,qan ADDRESS City Hall, 50 W. 13th Street, Dubuque, IA CITY/COUNTY CONTACT PERSON Michael Van Milli,qen TELEPHONE (319) 589-4110 FAX ( ) [ ] NEW BUSINESS OPPORTUNITY [ ] HEW PRODUCT DEVELOPMENT ZIP CODE 52001 TITLE City Mana,qer BUSINESS RECEIVING BENEFIT OF FUNDING: BUSINESS Cottingham & Butler insurance Service, Inc. NAME OF AUTHORIZED PERSON TO OBLIGATE THE BUSINESS BUSINESS ADDRESS 300 Secudty Building John E. Butler ZIP CODE BUSINESS CONTACT PERSON TELEPHONE (319) 587-5215 BUSINESS FEDERAL ID # Stephen J. Bonfi.q TITLE Treasurer FAX (319) 583-7339 42-0198040 52001 CEBA APPLICATION FOR BUSINESS FINANCIAL ASSISTANCE PAGE DESCRIBE THE ORGANIZATIONAL STRUCTURE OF THE BUSINESS, INCLUDING ANY PARENT COMPANIES, SUBSIDIARIES, SISTER COMPANIES, ETC. Cottingham & Butler Insurance Services, Inc. and its affiliated companies are highly involved in vadous facets of the insurance business. Cottingham & Butler Insurance Services, Inc., provides insurance brokerage services for commercial business. Self Insured Services Co. (SlSCO) provides claim services for self-funded medical and dental plans, along with claims services for workers' compensation and liability claims. HealthCorp provides pre- certification, utilization review and case management services. Safety Management Services Co. provides loss prevention and safety training. 5. LIST THE NAMES OF THE BUSINESS OWNERS AND THE PERCENT OF OWNERSHIP HELD BY EACH. John Butler 100% 6. LIST THE BUSINESS' PRIMARY AND SECONDARY STANDARD INDUSTRIAL CODES (SIC) CODES. Primary 6411 Secondary 03 CEBA APPLICATION FOR BUSINESS FINANCIAL ASSISTANCE PAGE 10 7. DESCRIPTION AND HISTORY OF BUSINESS; (If complete description is attached, please summarize here.) Cottingham & Butler was established in 1887 in Dubuque, Iowa. The company was founded by Dixon Cottingham, great grandfather to the existing president, John Butler. The business first started as a general insurance brokerage. In 1930, Ellis Butler joined the firm and moved the company in the direction of larger commercial insurance accounts, which has remained our direction to this day. In the late 50's the current president, John Butler, joined the business. John has accelerated the growth of CBISI through expansion and diversifying our services within the insurance industry. DESCRIBE IN DETAIL THE PROPOSED ~PROJECT": (e.g., company relocation, plant expansion, remodeling, new product line, refinancing, etc.) (If complete description is attached, please summarize here.) Cottingham & Butler has been growing substantially for the past 10 yearn. To accommodate that growth, there is a need for additional space for our expanding employee population. The Town Clock Building, located at 835 Main Street, is directly across the plaza from Cottingham & Butler. The plan is to restore and remodel the building within histodc preservation guidelines. This historic building has approximately 17,000 square feet of space and the potential to house 100 employees. Our plan is to relocate some of our current divisions to the new space to allow for growth of these services and, at the same time, to allow for the further growth of services remaining in the Security Building. This expansion is projected to accommodate the addition of 60 new positions over the next 2 years. CEBA APPLICATION FOR BUSINESS FINANCIAL ASSISTANCE PAGE 11 WILL THE PROJECT INVOLVE A TRANSFER OF OPERATIONS OR JOBS FROM ANY OTHER IOWA FACILITY OR REPLACE OPERATIONS OR JOBS CURRENTLY BEING PROVIDED BY ANOTHER IOWA COMPANY? IF YES, PLEASE INDICATE THE FAClLITIY (S) AND/OR COMPANY(S) AFFECTED. None 10. WHAT PERCENTAGE OF THE COMPANY'S SALES WILL BE OUTSIDE THE STATE OF IOWA? Approximately 40% 11. DESCRIBE THE BUSINESS' ANTICIPATED IN-STATE CUSTOMERS AND THE PRODUCT/SERVICE THAT WILL BE PROVIDED TO EACH. Our current and potential customers vary from very large to small business operations who require services for coverage and self insured exposures. For more detail on the services provided by CBISl, read the answer to #4 and the enclosed Corporate Brochure. 12. WHAT PERCENTAGE OF THE COMPANY'S TOTAL OPERATING EXPENDITURES (INCLUDING WAGES AND SALARIES) WILL BE SPENT WITHIN THE STATE OF IOWA? 100% 13. WHAT DATE WILL THE PROJECT BEGIN? May I, 2001 BE COMPLETED? February 1, 2002 (NOTE: Funds are not normally distributed to the business until approximately two months after DED's actual approval.) 14. HAS ANY PART OF THE PROJECT BEEN STARTED? ~/ Minor clean up and demolition of the facilities has been started. YES __ NO (If yes, please describe:) CEBA APPLICATION FOR BUSINESS FINANCIAL ASSISTANCE PAGE 15. HOW MANY EMPLOYEES ARE CURRENTLY EMPLOYED BY THE COMPANY? (Total employment including all locations, subsidiaries, divisions, affiliates, etc., worldwide) 280 IF THIS COMPANY HAS MORE THAN ONE IOWA FACILITY, HOW MANY FULL-TIME EMPLOYEES ARE THERE AT THE FACILITY AFFECTED BY THIS PROPOSAL? N/A OTHER IOWA FACILITIES? Location(s) Davenport, IA No of Employees at each 2 HOW MANY TOTAL INDIVIDUALS HAVE BEEN EMPLOYED BY THE COMPANY AT THESE FACILITIES DURING THE PAST YEAR? 2 16. IF AWARDED FUNDS, HOW MANY NEW, FULL-TIME MEPLOYEES WILL YOU ADD TO THE PAYROLL WITHIN 12, AND 24, MONTHS OF THE AWARD DATE? The business acknowledges if it fails to create the jobs pledged below by the end of the project pedod (usually 24 months from the date of the CEBA award), it will reimburse CEBA funds for the employment shortfall. The preparer of this application should ensure that the business is aware of this provision before asking the business to sign the application form. FULL-TIME: PART-TIME: 12 MONTHS 25 12 MONTHS 0 Cumulative Cumulative FULL-TIME PART-TIME 24 MONTHS 60 24 MONTHS 0 Cumulative Cumulative 17. WHAT IS THE ESTIMATED ANNUAL PAYROLL FOR THE NEW EMPLOYEES RESULTING FROM THIS PROJECT? $1,375,OOO CEBA APPLICATION FOR BUSINESS FINANCIAL ASSISTANCE PAGE 13 18. WHAT IS THE STARTING AVERAGE HOURLY WAGE RATE (NOT INCLUDING FRINGE BENEFITS PROJECTED TO BE FOR THE NEW EMPLOYEES? $11.01 FOR EXISTING EMPLOYEES? $16.35 LIST POSITIONS AND HOURLY RATES FOR EACH JOB CLASSIFICATION TO BE CREATED AND RETAINED. See next page. An example is typed in the first line. HOW MANY OF THE BUSINESS' CURRENT EMPLOYEES ARE EARNING AN HOURLY WAGE, EXCLUDING BENEFITS, OF AT LEAST THE COUNTY THRESHOLD WAGE? 180 (CONTACT A CEBA PROJECT MANAGER AT IDED FOR CURRENT FIGURES.) CEBA APPLICATION FOR BUSINESS FINANCIAL ASSISTANCE PAGE 14 18. Cont. LIST OF POSITIONS AND HOURLY RATE FOR CREATED AND RETAINED POSITIONS (Use Additional Sheets if Needed) No. Hours Create Retain Position Title Per Week Hourly Rate of Pay 10 0 Assembler 40 $9.00 2 0 Client Service Rep, C & B 40 $12.02 3 0 Account Executive 40 $21 2 0 Benefit Services Rep 40 $13.46 2 0 Claims Supervisor 40 $12.02 3 0 Claims Auditor 40 $10.00 3 0 Workers Comp Adjuster 40 $13,46 1 0 P & C Claims Adjuster 40 $13,46 1 0 Safety Analyst 40 $21.64 2 0 Nurse Case Manager 40 $16,83 3 0 Specialized Transportation 40 $14.43 Sales Rep 4 0 Account Administrator 40 $13,00 12 0 Medical Claim Examiner 40 $8,50 8 0 Indexer 40 $7.75 10 0 Customer Service Rep 40 $8.75 1 0 Account Assistant 40 $9,00 1 0 Word Processor 40 $9.00 2 0 Enrollment 40 $8,50 CEBA APPLICATION FOR BUSINESS FINANCIAL ASSISTANCE PAGE 19. WILL ANY OF THE CURRENT EMPLOYEES LOSE THEIR JOBS IF THE PROJECT DOES NOT PROCEED? YES ~/ NO 20. IF YES, HOW MANY? EXPLAIN WHY: 21. WHAT IOWA COMPANIES DO YOU EXPECT TO SELL TO WHICH CURRENLTY BUY FROM NON-IOWA COMPANIES? WHAT PERCENTAGE OF YOUR SALES WILL FALL INTO THIS CATEGORY? We are currently working with many Iowa companies that purchase insurance products and self-insured services from large national brokerage firms located outside of Iowa. Many of these Iowa-based businesses will purchase insurance and processing services from Cottingham & Butler Insurance Services, Inc. We anticipate that close to 15% of our new business will fall into this category. 22. WHAT OTHER IOWA COMPANIES COULD BE CONSIDERED TO BE YOUR COMPETITORS? Kirk Van Orsdale (KVI) Holmes Murphy Seabury & Smith Any other Third Party Administration company, also any commercial insurance agency/brokerages. 23. HOW WILL THIS PROJECT BENEFIT THE CITY/COUNTY, ETC. This project will increase the tax base for the City and the County. The project will also: · Provide 60 new jobs. · Add over $1,375,000 in salades to the area · Provide local vendors and tradesmen income and job opportunities · Restore and preserve a building that is significant to Dubuque history. · Increase commercial office space. · Enhance the downtown street-scape. CEBA APPLICATION FOR BUSINESS FINANCIAL ASSISTANCE PAGE 24. IN WHAT FORM IS THE BUSINESS CONTRIBUTION TO THE PROJECT? PLEASE EXPLAIN CLEARLY. (i.e., SALE OF STOCK, EQUITY INVESTMENTS, SUBORDINATED DEBT, ETC.) Governmental funds/grants Internal financing 25. IDENTIFY ALL AGENCIES OR INSTITUTIONS INVOLVED IN THE PROJECT, AND WHAT THEIR INVOLVEMENT IS: None CEBA APPLICATION FOR BUSINESS FINANCIAL ASSISTANCE PAGE 17 SUMMARY OF PROJECT COSTS AND PROPOSED FINANCING SOURCES 26. USE OF FUNDS SOURCES (Summarize All Sources from Question 27) ACTIVITY COST SOURCE A SOURCE B SOURCE C SOURCE D SOURCE E SOURCE F 1. LAND ACQUISITION $0 2. SITE PREPARATION $62,500 $62,500 3. BUILDING ACQUISITION $0 4. BUILDING CONSTRUCTIO $0 N 5. BUILDING REMODELING $1,975,817 $180,000 $1,495,817 $300,000 6. MACHINERY & EQUIPMENT $230,000 $230,000 7. FURNITURE & FIXTURES $370,000 $370,000 8. PERMANENT i WORKING $0 CAPITAL (detail:) i!iii iiiiiiill :~ i::ill i i !::i?~!!~i}ii::i?:i~i?~i::iI 9. OTHER $ 10. OTHER $ TOTAL: $2,638,317 $180,000 $2,158,317 $300,000 $ $ $ 27. TERMS OFPROPOSEDFINANCING CODE: SOURCE (include all soumes in Question 26) AMOUNT TYPE (1) RATE TERM Source A: STATE ASSISTANCE (CEBA) $180,000 ,,~ 0% 5 years Source B: Internal Funding $2,158,317 Equity Source C: City of Dubuque (Downtown Rehab) $300,000 TIF Source D: Source E: Source F- I TOTAL: $2,638,317 (1) For et<ample: Forgivable Loan, Direct Loan, Grant, Equity, etc, .,~ $90,000 zero percent loan for five years, then 3%; $90,000 forgivable. CEBA APPLICATION FOR BUSINESS FINANCIAL ASSISTANCE PAGE 28. EXPLAIN WHY ASSISTANCE IS NEEDED FROM THE STATE, AND WHY IT CANNOT BE OBTAINED ELSEWHERE. SPECIFIC SUPPORTING DOCUMENTATION EVIDENCED BY CASH FLOW STATEMENTS, INCOME STATEMENTS, ETC., IS REQUESTED. Due to the magnitude of this project, we are estimated to spend over $2.2 million. Corporate finances will not allow ail funding to come from one source. CBISl is exploring all avenues of funding with primary emphasis on grants, Iow interest loans and internal financing. 29. EXPLAIN THE NEED FOR SPECIFIC TYPE OF ASSISTANCE (LOCATIONAL OR FINANCIAL OR RATE OF RETURN). CAN CONVENTIONAL FINANCING BE OBTAINED FOR ALL PROJECT COSTS? IF CEBA PROVIDED A MARKET RATE LOAN COULD THE PROJECT PROCEED? LOW OR NO INTEREST LOAN? IF NOT, WHY? Due to the size of the expenditure and the affect it would have on the "bottom line" of the company, only Iow or no- interest financing are acceptable. Current interest rates on the amount needed would greatly affect corporate financial performance. 30. WHAT TYPE OF SECURITY AND IN WHAT AMOUNT WILL THE ASSISTED BUSINESS PROVIDE THE STATE? IF NO SECURITY IS OFFERED, AN EXPLANATION MUST BE PROVIDED. NOTE: AS A GENERAL RULE, FOR THOSE BUSINESSES NOT PUBLICLY TRADED, PERSONAL GUARANTEES ARE REQUIRED IN ADDITION TO OTHER PLEDGED BUSINESS ASSETS. ALSO, FOR THOSE BUSINESSES WHO ARE SUBSIDIARIES OF LARGER BUSINESSES, CORPORATE GUARANTEES ARE NORMALLY REQUIRED FROM THE HOLDING OR PARENT COMPANY. MORTGAGE Yes $_ WHAT SENIORITY OR POSITION? LIEN ON Building $ WHAT SENIORITY OR POSITION? PERSONAL GUARANTEE No $ CORPORATE GUARANTEE Yes $ OTHER $ NONE (If none, please explain) 31. GENERALLY A DECISION BY THE DEPARTMENT OF ECONOMIC DEVELOPMENT ON THIS APPLICATION CAN BE EXPECTED WITHIN 30 DAYS OF RECEIPT OF THE APPLICATION. IS THERE AN URGENT NEED FOR A MORE IMMEDIATE DECISION (I.E., 1 - 2 WEEKS) ON THIS APPLICATION? __ YES ~/ NO IF SO, WHY? CEBA APPLICATION FOR BUSINESS FINANCIAL ASSISTANCE PAGE 19 32. DOES THE BUSINESS CERTIFY THAT HIRING PREFERENCE WILL BE MADE TO IOWA RESIDENTS? ~/ YES NO 33. DOES THE BUSINESS CERTIFY THAT HIRING PREFERENCE WILL BE MADE TO FORMER EMPLOYEES OF ANY BUSINESS MERGED OR ACQUIRED BY THE COMPANY WITHIN THE LAST THREE YEARS? YES NO 34. DOES THE BUSINESS CERTIFY THAT AT LEAST TEN (10%) PERCENT OF THE POSITIONS TO BE CREATED WILL BE MADE AVAILABLE TO QUALIFIED PROMISE JOB PARTICIPANTS? YES NO 35. HAS THE BUSINESS BEEN CITED OR CONVICTED FOR VIOLATIONS OF ANY FEDERAL OR STATE LAWS OR REGULATIONS WITHIN THE LAST FIVE YEARS (INCLUDING ENVIRONMENTAL OR SAFETY REGULATIONS)? YES ~ NO. IF YES, PLEASE EXPLAIN THE CIRCUMSTANCES OF THE VIOLATION(S). 36. WILL YOUR BUSINESS BE UTILIZING, OR BE LOCATED ON PROPERTY ON WHICH IS LOCATED, UNDERGROUND TANKS (WHETHER OR NOT IN CURRENT USE) FOR THE STORAGE OF PETROLEUM PRODUCTS, AGRICULTURAL OR OTHER CHEMICALS, WASTE OIL OR OTHER LIQUID WASTE, OR ANY OTHER INFLAMMABLE, CORROSIVE, REACTIVE OR EXPLOSIVE LIQUID OR GAS? YES "/ NO IF YES, PLEASE SPECIFY. 37. WILL YOU BE STORING ABOVE-GROUND ON OR ABOUT YOUR BUSINESS PREMISES, IN TANKS OR OTHERWISE, FOR ANY LENGTH OF TIME OR FOR ANY PURPOSE, ANY LIQUID OR GAS INCLUDED IN QUESTION 36 ABOVE OR ANY INFLAMMABLE, CORROSIVE, REACTIVE OR EXPLOSIVE SOLID, EXCLUDING ORDINARY REFUSE? YES ~/ . NO IF YES, PLEASE SPECIFY. CEBA APPLICATION FOR BUSINESS FINANCIAL ASSISTANCE PAGE 20 38. WILL YOU BE TREATING, TRANSPORTING OR DISPOSING OF ANY LIQUID, GAS OR SOLID INCLUDED IN QUESTIONS 36 OR 37 ABOVE, EITHER ON OR ABOUT YOUR BUSINESS PREMISES OR AT A LANDFILL OR OTHER TREATMENT FACILITY, OR UPON ANY PUBLIC STREET OR HIGHWAY, OR ON ANY WATERWAY OR BODY OF WATER, OR IN ANY AIRCRAFT? YES ~/ NO IF YES, PLEASE SPECIFY THE SUBSTANCE AND WHAT YOU WILL BE DOING WITH IT. 39. IF THE BUSINESS GENERATES SOLID OR HAZARDOUS WASTE, IT IS REQUIRED TO SUBMIT AN AUDIT AND MANAGEMENT PLAN TO REDUCE THE AMOUNT OF THE WASTE AND TO SAFELY DISPOSE OF THE WASTE. FOR THE PURPOSES OF MEETING THIS REQUIREMENT; THE BUSINESS IN LIEU OF PROVIDING IN-HOUSE AUDITS, MAY SUBMIT AUDITS COMPLETED BY EITHER THE WASTE MANAGEMENT AUTHORITY OF THE DEPARTMENT OF NATURAL RESOURCES OR OTHE IOWA WASTE REDUCTION CENTER AT THE UNIVERSITY OF NORTHERN IOWA. IF AN AUDIT AND MANAGEMENT PLAN IS NOT SUBMITTED, THE DEPARTMENT SHALL NOT PROVIDE ASSISTANCE UNTIL IT IS SUBMITTED. 40. WILL ANY PART OF THE PROJECT TAKE PLACE IN A 100 YEAR FLOOD PLAIN? YES ~/ NO 41. DOES THE BUSINESS PROVIDE AT LEAST 80% OF STANDARD MEDICAL AND DENTAL INSURANCE FOR FULL-TIME EMPLOYEES? ~/ YES NO 42. DOES THE COMMUNITY HAVE A COMMUNITY BUILDER PROGRAM IN PLACE? ~/ YES NO 43. REQUIRED ATTACHMENTS. CHECK OFF EACH ONE SUBMITTED. IF NOT SUBMITTED, EXPLAIN WHY IT IS NOT SUBMITTED. CBISI is a privately held family-run organization. Due to this fact, much of the company's financial information is considered strategic and confidential in nature. Profit and loss statements, financial arrangements with our lenders and payroll information will not be supplied at the time of this application. A three-year balance sheet is included. COMMUNITY RESOLUTION AUTHORIZING THE APPLICATION ~ ~:~e,.--- PLaN (IF NEW BUSINESS) N/A PROFIT AND LOSS STATEMENTS (3 YEAR HISTORICAL AND 2 YEAR PROJECTIONS) N/A __BALANCESHEETS(3YEARHISTORICALAND2YEARPROJECTIONSINCLUDING AGED ACCOUNT RECEIVEABLESCHEDULE, AGEDACCOUNTSPAYABLESCHEDULEANDA SCHEDULE OF OTHER DEBT) N/A LETTERS OF COMMITMENT OF PROJECT FUNDS, (FROM BANKS, APPLICANT, ETC.) DESCRIPTION OF FRINGE BENEFITS PROVIDED TO EMPLOYEES CEBA APPLICATION FOR BUSINESS FINANCIAL ASSISTANCE PAGE N/A COPIES OF THE COMPANY'S QUARTERLY IOWA "EMPLOYER'S CONTRIBUTION AND PAYROLL REPORT" FOR THE PAST YEAR AND A COPY OF THE MOST RECENT MONTHLY PAYROLL REGISTER. MAP INDICATING THE LOCATION OF THE PROJECT WITHIN THE COMMUNITY. A'1-1'ACH COST ESTIMATES FOR CONSTRUCTION, MACHINERY/EQUIPMENT, PERMANENT WORKING CAPITAL AND PURCHASES. CERTIFICATE OF GOOD STANDING FROM THE IOWA SECRETARY OF STATE OR AN AUTHORIZATION TO CONDUCT BUSINESS IN IOWA. CERTIFICATE OF INCUMBENCY LISTING THE CURRENT BOARD OF DIRECTORS AND CURRENT OFFICERS IF A CORPORATION OR A LISTING OF THE GENERAL PARTNERS IF A PARTNERSHIP. CORPORATE RESOLUTION AUTHORIZING THE APPLICATION FOR CEBA FUNDS. CORPORATE SIGNATORY AUTHORIZATION NAMING AN OFFICER TO EXECUTE THE CEBA APPLICATION AND CEBA LOAN DOCUMENTS, IF APPROVED.. OTHER 44. EXPLANATION/OTHER COMMENTS: