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IEDA_Rousselot, Inc. Contract THE CITY OF 411WA Dubuque***** DUBB E All erica City Masterpiece on the Mississippi 2012 TO: The Honorable Mayor and City Council Members FROM: Michael C. Van Milligen, City Manager SUBJECT: State of Iowa Financial Assistance Application for Rousselot, Inc. DATE: July 30, 2012 Economic Development Director Dave Heiar recommends City Council approval of the submission of a Financial Assistance Application to the Iowa Economic Development Authority on behalf of Rousselot, Inc. Rousselot plans to invest $16 million in a 9,000 square foot expansion to its facility at 2350 Kerper Boulevard, which will increase production capacity 40% by the end of a three year period. There will be expansions to existing buildings, relocation of silos and tanks, new equipment installations, and additional utilities. The expansion project will create ten new positions. The local match required for this project will be a 10-year tax rebate using tax increment financing. As the company pays its future tax obligation on the new facility, the City will rebate 100% (minus debt service, School District Physical Plant, Equipment and Instructional Support Levy) of taxes on the estimated $580,000 in improved assessed value for the expanded portion of the facility. I concur with the recommendation and respectfully request Mayor and City Council approval. /7AAh kt1&1 Michael C. Van Milligen MCVM:jh Attachment cc: Barry Lindahl, City Attorney Cindy Steinhauser, Assistant City Manager Teri Goodmann, Assistant City Manager David J. Heiar, Economic Development Director Masterpiece on the Mississippi Dubuque kittd All- America City '1111' 2007 TO: Michael Van Milligen, City Manager FROM: David J. Heiar, Economic Development Director SUBJECT: State of Iowa Financial Assistance Application for Rousselot, Inc. DATE: July 27, 2012 INTRODUCTION This memorandum presents for City Council review and approval of a resolution authorizing the submission of a Financial Assistance application to the Iowa Economic Development Authority on behalf of Rousselot, Inc. The application is attached. BACKGROUND Rousselot, with 13 manufacturing plants worldwide, produces gelatin for the food and pharmaceutical industries. Gelatin is used to produce edible items such gummy bears, marshmallows, and gel capsules. The Dubuque facility has been in operation at its current location since 1968. Rousselot, plans to invest $16 million in a 9,000 square foot expansion to its facility at 2350 Kerper Boulevard, which will increase production capacity 40% by the end of a three year period. There will be expansions to existing buildings, relocation of silos and tanks, new equipment installations, and additional utilities. The expansion project will create ten (10) new positions. DISCUSSION The application on behalf of the company will provide State financial assistance to enable the company's proposed expansion in Dubuque. Rousselot has requested a sales tax rebate up to $150,000 for construction materials. A local match is required for the project. Staff is proposing a 10 -year tax rebate using tax increment financing. As the company pays its future tax obligation on the new facility, the City will rebate 100 percent (minus debt service, School District Physical Plant, Equipment and Instructional Support Levy) of taxes on the estimated $580,000 in improved assessed value for the expanded portion of the facility. The Enterprise Zone Commission has already approved the application to the Iowa Economic Development Authority. Should the State approve the application, a contract will be forthcoming for City Council approval. Additionally, the City Council will be asked at subsequent meetings to consider and act on amended urban renewal plan for the Greater Downtown Urban Renewal District that will include the Rousselot site, as well as a development agreement for the company's TIF rebate. RECOMMENDATION I recommend that the City Council authorize the submission of a State of Iowa financial assistance package on behalf of Rousselot, Inc. for creating 10 new positions within the community. This project is consistent with the City's goals to help businesses expand in the area, increase the number of high quality jobs, and further diversify the economic base of the area. ACTION STEP The action step for the City Council is to adopt the attached resolution. attachments F: \USERS \Econ Dev \Rousselot \20120727 Rousselot IEDA application Council memo.doc RESOLUTION NO. 214 -12 A RESOLUTION AUTHORIZING THE FILING OF AN APPLICATION FOR STATE FINANCIAL ASSISTANCE ON BEHALF OF ROUSSELOT, INC. Whereas, Rousselot, Inc. has proposed a $16 million expansion of its Dubuque facility; 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 10 additional jobs; and Whereas, the Iowa Economic Development Authority's Financial Assistance Program 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 Iowa Economic Development Authority's Financial Assistance 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 Economic Development Authority's Financial Assistance Program on behalf of Rousselot, Inc. is hereby approved. Section 2. That a ten year tax increment financing local match identified in the application will be provided, subject to approval by the Iowa Economic Development Authority and further action by the City Council. Section 3. That the Mayor is hereby authorized to execute and the City Manager is hereby directed to submit said application to the Iowa Economic Development Authority together with such documents as may be required. Passed, approved, and adopted this 6th day of Augu , 2012. Roy D. Buol, Mayor Attest: Kevin S. -irnstahl, City Cle F: \USERS \Econ Dev \Rousselot\20120727 Resolution Rousselot IEDA App Approval.doc IWA Debi V. Durham, Director Iowa Economic Development Authority Business Financial Assistance Application Business Finance Business Development Division Iowa Economic Development Authority 200 East Grand Avenue Des Moines, Iowa 50309 -1819 Iowaeconomidevelopment.com Telephone: 515.725.3133 businessfinance[a7iowa.gov v.04.20.2012 Application Instructions To Complete Electronic Form: Click on TEXT BOX to add text. Double click on YES /NO boxes and select "Checked ". 1. All applicants must complete the Business Financial Assistance Application and attach only those additional sections for the components to which the applicant is applying. Direct Financial Assistance — STATE of IOWA ❑ 130% Component (no supplement) ❑ 100% Component (no supplement) ❑ Entrepreneurial Component (and Supplement) Supplemental information required Tax Credits — STATE of IOWA ® Enterprise Zone Program (EZ) Supplemental information required Direct Financial Assistance — FEDERAL ❑ Economic Development Set -Aside Program (EDSA) Program (PFSA) Supplemental information required ❑ Infrastructure Component (no supplement) ❑ Value -Added Agriculture Component Supplemental information required ❑ Disaster Relief Component Supplemental information required ❑ High Quality Jobs Program (HQ) (no supplement) ❑ Public Faclities Set -Aside Supplemental information required 2. Please visit the IDED Web site at www.iowalifechanginq.com or contact IDED at 515,725.3133 to confirm that this is the most current application version. 3. Before filling out this application form, please read all applicable sections of the 2009 Iowa Code and Iowa Administrative Code ( rules). www .leciis.state.ia.us /IowaLaw.html 4. Only typed or computer - generated applications will be accepted and reviewed. Any material change to the format, questions, or wording of questions presented in this application will render the application invalid and it will not be accepted. 5. Complete the applicable sections of the application fully. If questions are left unanswered or required attachments are not submitted, an explanation must be included. 6. Use clear and concise language. Attachments should only be used when requested or as supporting documentation. 7. Any inaccurate information of a significant nature may disqualify the application from consideration. 8. The following must be submitted to Business Finance at IDED in order to initiate the review process: • One original, signed application form and all required attachments • One electronic copy of the application form and all required attachments Facsimile copies will not be accepted. Business Finance Iowa Department of Economic Development 200 East Grand Avenue Des Moines, IA 50309 -1819 Telephone: 515.725.3133 businessfinance(aiowa,gov Applications are must be submitted to IDED Business Finance before 4:OOpm on the fourth Monday of the month. Applications will be reviewed by the IDED Board on the third Thursday of the following month. IDED — Business Financial Assistance Application 2 v.04.20.2012 Public Records Policies Information Submitted to IDED. The Iowa Department of Economic Development (IDED) is subject to the Open Records law (Iowa Code, Chapter 22). Treatment of information submitted to IDED in this application is governed by the provisions of the Open Records law. All public records are available for public inspection. Some public records are considered confidential and will not be disclosed to the public unless ordered by a court, the lawful custodian of the record, or by another person duly authorized to release the information. Confidential Records. IDED automatically treats the following records as confidential and they are withheld from public disclosure: • Tax Records • Quarterly Iowa Employer's Contribution and Payroll Report prepared for the Iowa Workforce Development Department • Payroll Registers • Business Financial Statements and Projections • Personal Financial Statements Other information supplied to IDED as part of this application may be treated as confidential under Iowa Code section 22.7. Following are the classifications of records which are recognized as confidential under Iowa law and which are most frequently applicable to business information submitted to IDED: • Trade secrets [Iowa Code §22.7(3)] • Reports to governmental agencies which, if released, would give advantage to competitors and serve no public purpose. [Iowa Code §22.7(6)] • Information on an industrial prospect with which the IDED is currently negotiating. [Iowa Code §22.7(8)] • Communications not required by law, rule or regulation made to IDED by persons outside the government to the extent that IDED could reasonably believe that those persons would be discouraged from making them to the Department if they were made available for general public examination. [Iowa Code §22.7(18)] Information supplied to IDED as part of this application that is material to the application and/or the state program to which the applicant is applying including, but not limited to the number and type of jobs to be created or retained, wages for those jobs, employee benefit information, and project budget, are considered open records and will not be treated as confidential. Additional Information Available. Copies of Iowa's Open Record law and IDED's administrative rules relating to public records are available from the IDED upon request. 1 DED — Business Financial Assistance Application 3 v.04.20.2012 Applicant Information Name of Business: Rousselot, Inc. Address: 2350 Kerper Blvd. City, State & Zip Code: Dubuque, IA 52001 Contact Person: Bob KraII Title: Plant Manager Phone: 563 -690 -1143 Fax: 563 - 588 -9063 Email: bob.krall @rousselot.com Federal ID Number: 75- 3029395 NAICS Code for primary business operations: 325998 US DOT Number: Does the Business file a consolidated tax return under a different tax ID number? ® Yes ❑ No If yes, please also provide that tax ID number: 20- 4554170 Is the contact person listed above authorized to obligate the Business? ❑ Yes No If no, please provide the name and title of a company officer authorized to obligate the Business: Steve Smith, Vice President Finance If the application was prepared by someone other than the contact person listed above, please complete the following: Name of Business: Address: City, State & Zip Code: Contact Person: Title: Phone: Fax: Email: Sponsor Information Sponsor Organization: City of Dubuque Official Contact (e.g. Mayor, Chairperson, etc.): Roy D. Buol Title: Mayor Address: 50 West 13th Street City, State & Zip Code: Dubuque, IA 52001 Phone: 563 - 589 -4110 Fax: 563 - 589 -4149 Email: rdbuol @cityofdubuque.org If IDED needs to contact the sponsor organization with questions, should we contact the person listed above? ❑ Yes ® No, please contact the following person: Name: Phil Wagner Title: Assistant Economic Development Director Address: 50 West 13th Street City, State & Zip Code: Dubuque, IA 52001 Phone: 563 -589 -4393 Fax: 563 - 589 -1733 Email: pwagner @cityofdubuque.org If necessary, please list information on additional sponsors in an attachment. 1 DED — Business Financial Assistance Application 4 v.04.20.2012 Certification & Release of Information I hereby give permission to the Iowa Department of Economic Development (IDED) to research the Business' history, make credit checks, contact the Business' financial institutions, insurance carriers, and perform other related activities necessary for reasonable evaluation of this application. I also hereby authorize the Iowa Department of Revenue to provide to IDED state tax information pertinent to the Business' state income tax, sales and use tax, and state credits claimed. I understand that all information submitted to IDED related to this application is subject to Iowa's Open Record Law (Iowa Code, Chapter 22). I understand this application is subject to final approval by IDED and the Project may not be initiated until final approval is secured. I understand that IDED reserves the right to negotiate the financial assistance. Furthermore, I am aware that financial assistance is not available until an agreement is executed within a reasonable time period following approval. I hereby certify that all representations, warranties, or statements made or furnished to IDED In connection with this application are true and correct in all material respect. I understand that it is a criminal violation under Iowa law to engage in deception and knowingly make, or cause to be made, directly or Indirectly, a false statement In writing for the purpose of procuring economic development assistance from a state agency or subdivision. For the Business: Signature Date Bob Krall Name and Title (typed or printed) For the S Plant Manager 8/6/12 Signature / Date Roy . Buol, Mayor 7 -16 -12 Name and Title (typed or printed) Please use the following if more than one sponsor Is required. (For example, use this if a signature from the local En erprise Zone Commission is required in addition to the signature from the Mayor of the sponsoring city.) Signatu , Date Doug Stillings, Vice Chair, Enterprise Zone Commission Name and Title (typed or printed) IDED will not provide assistance in situations,where It is determined that any representation, warranty, or statement made in connection with this application is incorlect, false, misleading or erroneous in any material respect. if assistance has already been provided prior to discovery of the Incorrect; false, or m isleading representation, IDED may initiate legal action to recover incentives and assistance awarded to the Business. '['ED I IAA :tr:.i t,cl +:rI kpP II,,. C,i;• „201; Business Information Provide a brief description and history of the Business. Include information about the Business' products or services and its markets and /or customers. Rousselot, with 13 manufacturing plants worldwide, produces gelatin for the food and pharmaceutical industries. Gelatin is used to produce edible items such as gummy bears, marshmallows, and gel capsules. The Dubuque facility has been in operation at its current location since 1968. Business Structure: ❑ Cooperative ® Corporation ❑ Partnership ❑ S- Corporation State of Incorporation: Delaware ❑ Limited Liability Company ❑ Not for Profit ❑ Sole Proprietorship Identify the Business' owners and percent ownership: VION Food Group, The Netherlands, 100% Does a woman, minority, or person with a disability own the Business? If yes, is the Business certified as a Targeted Small Business? ❑ Yes ❑ Yes ® No ❑ No List the Business' Iowa locations and the current number of employees at each location. Dubuque, 75 What is the Business' worldwide employment? Please include employees of parent company, subsidiaries, and other affiliated entities in this figure. 26,000 Project Information Project Street Address: 2350 Kerper Blvd. Project City: Dubuque Project County: Dubuque Type of Business Project: ❑ Startup ❑ New Location in Iowa ® Expansion of Iowa Company ❑ Relocation from another State Briefly describe the proposed project for which assistance is being sought. (Include project timeline with dates, facility size, infrastructure improvements, proposed products /services, any new markets, etc.) The $16 million project will increase production capacity 40% by the end of year 3 at the Dubuque facility, establishing Rousselot as the #1 gelatin maker in the world. There will be 3 expansions to existing buildings, relocation of silos and tanks, new equipment installations, and additional utilities. Approximately 10 jobs will be added by year 3. Project Timeline (add additional rows as needed) Activity Completion Date Phase 1 - Expand current buildings, install /replace assorted equipment 6 -30 -2013 Phase 2 — Install additional electrical service and assorted equipment to increase production capacity 12 -31 -2013 Phase 3 — Expand current building, install assorted equipment to increase production capacity 12 -31 -2014 Please identify the project management for the project location and experience. This project will be self- managed by a team of Rousselot engineers and managers who have worked together at this location for over 4 years, overseeing a 10% increase in capacity through capital improvements; with design and engineering approval by a team of corporate engineers who have expanded other Rousselot plants throughout the world. Has any part of the project started? If yes, please explain. ❑Yes El No IDED — Business Financial Assistance Application 6 v.04.20.2012 Identify the Business' competitors. If any of these competitors have Iowa locations, please explain the nature of the competition (e.g. competitive business segment, estimated market share, etc.) and explain what impact the proposed project may have on the Iowa competitor. PB Leiner in Davenport and Gelita in Sioux City are worldwide competitors and should not be negatively impacted by this. The gelatin market is growing, and this project will reduce our dependence on imports from sister companies in Europe and South America. Will any of the current Iowa employees lose their jobs if this project does not proceed in Iowa? ❑ Yes ® No If yes, please explain why and identify those jobs as "retained jobs" in the Project Jobs section. IDED m Business Financial Assistance Application 7 v.04.20.2012 Project Budget AMOUNT BUDGETED Use of Funds Cost Source A Source B Source C Source D Source E Source F Source G Land Acquisition $ Source B: Other State (Community College, IDOT, etc.) $ Site Preparation Source C: Local Government $ Building Acquisition $16,300,0 00.00 Cash Source E: Other Private Sources $ Building Construction 3,600,000 Source F: $ $3,600,000 Building Remodeling 1,400,000 $1,400,000 TOTAL $16,300,0 0.00 Mfg. Machinery & Equip. 11,300,000 $11,300,00 Other Machinery & Equip. Racking, Shelving, etc.' Computer Hardware Computer Software Furniture & Fixtures Working Capital Research & Development Job Training TOTAL $16,3.00,000 $ $ $ $16,300,00. $ $ $ 1 Racking, shelving and conveyor equipment used in distribution center projects only Does the Business plan to lease the facility? El Yes E3 No If yes, please provide the Annual Base Rent Payment (lease payment minus property taxes, insurance, and operating /maintenance expenses) and the length of the lease agreement. PROPOSED FINANCING Source of Funds Amount Form of Funds Rate and Term Commitm ent Status Conditions /Additional Information (List tax benefits separately below, not as a source of direct financing) (Loan, Grant, In•Kind, Donation, etc.) Include when funds will be disbursed; If loan, whether payments are a level term, balloon, etc Source A: IDED* $ Source B: Other State (Community College, IDOT, etc.) $ Source C: Local Government $ Source D: Business $16,300,0 00.00 Cash Source E: Other Private Sources $ Source F: $ Source G: r $ TOTAL $16,300,0 0.00 —, IDED — Business Financial Assistance Application 8 v.04.20.2012 * Identify the collateral used to secure IDED funds: TAX CREDITS AND INDIRECT FINANCING Source of Funds Amount Description Investment Tax Credit Sales, Service & Use Tax Refund $150,000 6% of $2,500,000 in materials cost Research Activities Credit J3 %/10 %) Withholding Local Property Tax Exemption Tax Increment Financing $179,955 10 year TIF over $580,000 in improved values ($31 per $1,000 assessed value) 260E Job Training Funds $65,000 $6,500 per job over 10 jobs (NICC) In -kind Contribution Other TOTAL $ 394,955 - _ What measures were analyzed to determine the amount and form of assistance needed? Is the Business actively considering locations outside of Iowa? ® Yes ❑ No If yes, where and what assistance is being offered? We have facilities in Massachusetts and China that are also being considered for this expansion. There are three general justifiable reasons for assistance. Check the box next to the reason why assistance is needed to complete this project. ❑ Financing Gap - The Business can only raise a portion of the debt and equity necessary to complete the project. A gap between sources and uses exists and state and /or federal funds are needed to fill the gap. • Rate of Return Gap — The Business can raise sufficient debt and equity to complete the project, but the returns are inadequate to motivate an "economic person" to proceed with the project. Project risks outweigh the rewards. ❑ Location Disadvantage (Incentive) — The Business is deciding between a site in Iowa (site A) and a site in another state (site B) for its project. The Business argues that the project will cost Tess at site B and will require a subsidy to equalize costs in order to locate at site A. The objective here is to quantify the cost differential between site A and site B. IDED — Business Financial Assistance Application 9 v.04.20.2012 Project Jobs List the jobs that will be created and /or retained as the result of this project (A retained job is an existing job that would be eliminated or moved to another state if the project does not proceed in Iowa.) For jobs to be created, include the starting and final hourly wage rate. For retained jobs, include the current hourly wage rate. Is the hourly wage rate based on a 40 hour work week, 52 weeks per year? ® Yes ❑ No If no please explain: Full -Time CREATED Jobs fAdd additional rows as needed) Job Title Number of CREATED Jobs Starting Hourly Wage Hourly Wage at End of Year Three Maintenance mechanic 2 17.56 20.26 5 15.08 18.08 _Operators Admin /Date Entry 2 15.00 16.40 Process Engineer 1 23.00 26.00 Total CREATED Jobs 10 Full -Time RETAINED Jobs Job Title _Add additional rows as needed) Number of RETAINED Jobs Current Hourly Wage Total RETAINED Jobs IDED — Business Financial Assistance Application 10 v.04.20.2012 Employee Benefits Please identify all employee benefits provided by and paid for in full or in part ) by the Business. Employee Benefits Provided by Business Total Annual Cost (show on a per employee basis) Portion of Total Annual Cost Paid by the Business Plan Provisions Employee Family Employe Family Deductible (Include coinsurance %, office visit co- payments, annual out -of- pocket maximums, face amounts, etc.) Medical Insurance 7682 18300 7487 17910 Employee 1000 Smoker Premium $767/yr. Spouse Premium $519/yr. $0 coinsurance Family 2000 Dental Insurance 403 1048 334 875 Employee 50 $1500 annual max Family 100 Vision Insurance 88 197 72 164 Em ployee Family Life Insurance 232 Short -term Disability 379 Self Funded Long -term Disability 206 Insured Health Savings Account T Available Does the Business offer a pension plan, 401(k) plan, and /or retirement -plan? / Yes ❑ No If yes, please indicate the amount contributed on a per employee basis by the Business to the plan for the last three years. For 401(k) plans, please provide information on the company match and indicate the average annual match •er employee show average as a percenta of salary) Average Actu I Match per Employee . %! 2011 2.35 / 3.57 salary /union)__ 2010 i 2.67 / 3.7 2009 1 2.54 / 3.74 Three -year 2.52 / 3 -67 Average; Year Ending Does the Business offer a profit- sharing plan? ® Yes ❑ No If yes, please indicate total amount paid out each year for the past three years and then, determine the average annual bonus or contribution per employee for that three year period. Average Actual Year Ending Three -year Average: Share per Employee ($) (salary/union) 5549 / 2440 4874 / 2310 4838 / 2453 5087 / 2401 IDED — Business Financial Assistance Application 11 v.04.20.2012 Business Taxes IDED Is required to calculate the return on state and local government investments in this project Data from other parts of the application will be combined with the estimates requested below to calculate the required return on investment information. Please read the following directions carefully: • IDED is asking for a best estimate on the increase in taxes associated with this project. • Estimates should only include the expected increase in tax liability resulting from this project. At minimum, IDED needs estimates for the first three years of the project Show data as if no tax abatements or tax credits awarded for this project were taken. For partnership forms of ownership (e.g. limited partnerships, s- corporations, LLC, etc.), please estimate the partners' increase in Iowa tax liability due to this project. • Sales and use taxes refer to the taxes paid on materials, etc. that the Business purchases, not taxes you collect from sales to your customers. Applicants will not be held to these numbers with respect to any award from or contract with IDED. his page of the appli tion will automatically be treated as confidential State Business Taxes Increase in Tax Collections Associated with this Project State Corporate Income Tax* Year 1 13,000 Year 2 Year 3 16,000 15,000 State Business Sales and Use Tax 60,000 1 73,000 73,000 * Insurance Companies: Provide State Insurance Premium Tax Local Business Taxes Year 1 Year 2 Year 3 Local Real Estate Property Tax $6,772.50 $13,545 $20,317.50 Local Option Sales Tax 12,000 14,600 14,600 CONFIDENTIAL IDED — Business Financial Assistance Application 12 v.04.20.2012 0© Roussetat Attachment A3 Affidavit State of Iowa County of Dubuque I, Stephen A. Smith, depose and say that I have examined the following statement and have found it to the best of my knowledge to be accurate and true. Rousselot, Inc. has not, within the last five years, violated state or federal statutes, rules, and regulations, including environmental and worker safety regulations, or, if such violations have occurred, that there were mitigating circumstances or such violations did not seriously affect public health or safety or the environment. I further depose that the signa Dated: July 16, 2012 - 1 Sig■ Subscribed and sworn to before me on this llo day of ,11.1%( 2012 c. U4.{2;, (Notary Public) V10. 1.e. s. County My commission expires on '41141 LS KARRIE NAPIER Notary Public State of Wisconsin ousaelot Inc 231 South RochesterStree$ Suite__250 'T 262.363 0050 00o6ago, WI.53149 F 363 278 ousse /ot is a VIOLA Ingredients'company_ Attachments Please attach the following documents: Al Business Plan At a minimum, include: • Marketing study • Feasibility study • Projected profit and loss statements for three years into the future • Project budget • Production operations • Management structure • Personnel needs • Descriptions of product or process • Status of product/process development • Patent status (if applicable) (Any information outlined above not included in the business plan should be submitted as supplemental information via a separate attachment.) A2 Copies of the Business' Quarterly Iowa Employer's Contribution and Payroll Report Summary Page (Page 1) for the past year and a copy of the most recent payroll report for one pay period. The copy of the most recent payroll report for one pay period must be in Excel format and include the following information: • Company name, date of payroll and source of payroll information • Employee name and /or employee identification number • Current hourly wage - do not include bonuses or other benefit values • Indicate if the employee is full time (40 hours per week, 52 weeks per year) or part time. A sample Excel spreadsheet can be found at http: / /www.iowalifechanging. com/ applications /bus_dev /payroll_template.xls A3 Affidavit that states the Business has not, within the last five years, violated state or federal statutes, rules, and regulations, including environmental and worker safety regulations, or, if such violations have occurred, that there were mitigating circumstances or such violations did not seriously affect public health or safety or the environment. A sample affidavit can be found at http: / /www iowalifechanging com/ applications /bus_dev /sampleaffidavit.doc. A4 Financial Information (Existing Businesses Only) • Profit and loss statements and balance sheets for past three year -ends; • Current YTD profit and loss statement and balance sheet; • Schedule of aged accounts receivable; • Schedule of aged accounts payable; and • Schedule of other debts. IDED — Business Financial Assistance Application 13 v.04.20.2012 5 E Projett fa O R> G BARRY ST 49E L' ?OR ? Sla JANSEN SIT R x •'a! '� AVE ti 4 r Y 40 ` G1 BLANCHE AVE PADRE: PIO DR GREYHOUND pq,RD z LOWELL ST Or' , v, i2p '� 9,. c.: .. y Zc ', 1`�SyS,' ?a E16 • CLARKE OR O jr s� @� E.E 1a,µ S' ON\: