HomeMy WebLinkAboutLoan Conversions to GrantsDeschutes County Board of Commissioners
1300 NW Wall St., Suite 200, Bend, OR 97701-1960
(541) 388-6570 -Fax (541) 385-3202 -www.deschutes.org
AGENDA REQUEST & STAFF REPORT
For Board Business Meeting of May 14,2014
DATE: May 6,2014
FROM: Judith M. Ure Administrative Services 541-330-4627
TITLE OF AGENDA ITEM:
Consideration of converting $14,000 business loan made to Agere Pharmaceuticals, Inc. to a grant.
PUBLIC HEARING ON THIS DATE? No.
BACKGROUND AND POLICY IMPLICATIONS:
The Deschutes County Business Development Forgivable Loan Program was initiated to encourage and
assist companies seeking to relocate and/or create new jobs within Deschutes County. To receive a
loan, companies must agree to create a specific number ofjobs within a defined period, then maintain
this level of employment for an additional set period of time. Agere Pharmaceuticals, Inc. received a
business development loan in the amount of$14,000 on December 15,2010 with terms that included
adding seven (7) full-time employees on or before March 31, 2012 and maintaining a level of eleven
(11) full-time employees through September 17,2013. As certified by Economic Development for
Central Oregon (EDCO), Agere Pharmaceuticals, Inc. has met these terms and, in accordance with the
agreement, is eligible to have the loan converted to a grant.
FISCAL IMPLICATIONS:
None.
RECOMMENDATION & ACTION REQUESTED:
Authorize County Administrator to convert $14,000 business loan made to Agere Pharmaceuticals, Inc.
to a grant.
ATTENDANCE: Judith Ure, Management Analyst
DISTRIBUTION OF DOCUMENTS:
N/A
DESCHUTES COUNTY
Business Development Forgivable Loan Program
Loan Recipient: Agere Phannaceuticals, Inc.
62925 NE 18th
Bend, OR 97701
541-318-7115
Agreement No.: DC-2010-745
Date of Agreement: December 15, 2010
On behalf of Economic Development for Central Oregon, I hereby certify that Agere
Pharmaceuticals, Inc. has met all conditions of the Deschutes County Business Development
Forgivable Loan Program as specified in Agreement DC-2010-745 (attached).
I further attest that a representative of Economic Development for Central Oregon has reviewed
employment and payroll records furnished by Agere Pharmaceuticals, Inc. and that such records
confirm that Agere Pharmaceuticals. Inc.:
a) Employed a baseline of four (4) full-time employees on September 17,2010, and
b) Increased the number of full-time employees by seven (7) for a total of eleven (11) full
time employees on or before March 31, 2012, and
c) Maintained a total of eleven (11) full-time employees over any 12-month period through
September 17, 2013,
I therefore, request that the Deschutes County Board of Commissioners authorize that the
business development loan to Agere Pharmaceuticals, Inc. be converted to a grant in accordance
with the terms of the attached agreement.
Economic Development for Central Oregon
BY:#
Date: 5""-$-1 '1
Deschutes County Board of Commissioners
1300 NW Wall St., Suite 200, Bend, OR 97701-1960
(541) 388-6570 -Fax (541) 385-3202 -www.deschutes.org
AGENDA REQUEST & STAFF REPORT
For Board Business Meeting of May 14, 2014
DATE: May 6,2014
FROM: Judith M. Ure Administrative Services 541-330-4627
TITLE OF AGENDA ITEM:
Consideration of converting $50,000 business loan made to Buhner Fry, Inc. dba NAVIS to a grant.
PUBLIC HEARING ON THIS DATE? No.
BACKGROUND AND POLICY IMPLICATIONS:
The Deschutes County Business Development Forgivable Loan Program was initiated to encourage and
assist companies seeking to relocate and/or create new jobs within Deschutes County. To receive a
loan, companies must agree to create a specific number ofjobs within a defined period, then maintain
this level of employment for an additional set period of time. Buhner Fry, Inc. received a business
development loan in the amount of $50,000 on April 13, 2011 with terms that included adding twenty
seven (27) full-time employees on or before November 16, 2012 and maintaining a level of ninety-two
(92) full-time employees through November 16,2013. As certified by Economic Development for
Central Oregon (EDCO), Buhner Fry, Inc. has met these terms and, in accordance with the agreement,
is eligible to have the loan converted to a grant.
FISCAL IMPLICATIONS:
None.
RECOMMENDATION & ACTION REQUESTED:
Authorize County Administrator to convert $50,000 business loan made to Buhner Fry, Inc. to a grant.
ATTENDANCE: Judith Ure, Management Analyst
DISTRIBUTION OF DOCUMENTS:
N/A
DESCHUTES COUNTY
Business Development Forgivable Loan Program
Loan Recipient: Buhner Fry, Inc. dba NAVIS
389 SW Scalehouse Court, Suite 100
Bend, OR 97701
541-385-5255
Agreement No.: DC-20ll-l3?
Date of Agreement: April 13,2011
On behalf of Economic Development for Central Oregon, I hereby certify that Buhner Fry, Inc.
has met all conditions of the Deschutes County Business Development Forgivable Loan Program
as specified in Agreement DC-2011-13 ? (attached).
I further attest that a representative of Economic Development for Central Oregon has reviewed
employment and payroll records furnished by Buhner Fry, Inc. and that such records confinn that
Buhner Fry, Inc.:
a) Employed a baseline of sixty-five (65) full-time employees on November 16,2010, and
b) Increased the number of full-time employees by twenty-seven (27) for a total of ninety
two (92) full-time employees on or before November 16, 2012, and
c) Maintained a total of ninety-two (92) full-time employees over any 12-rnonth period
through November 16, 2013.
I therefore, request that the Deschutes County Board of Commissioners authorize that the
business development loan to Bulmer Fry. Inc. be converted to a grant in accordance with the
terms of the attached agreement.
Economic Development for Central Oregon
By. #fA
Date: ____~~~~L_______________________
Deschutes County Board of Commissioners
1300 NW Wall St., Suite 200, Bend, OR 97701-1960
(541) 388-6570 -Fax (541) 385-3202 -www.deschutes.org
AGENDA REQUEST & STAFF REPORT
For Board Business Meeting of May 14, 2014
DATE: May 6,2014
FROM: Judith M. Ure Administrative Services 541-330-4627
TITLE OF AGENDA ITEM:
Consideration of converting $12,000 business loan made to Dent Instruments to a grant.
PUBLIC HEARING ON THIS DATE? No.
BACKGROUND AND POLICY IMPLICATIONS:
The Deschutes County Business Development Forgivable Loan Program was initiated to encourage and
assist companies seeking to relocate and/or create new jobs within Deschutes County. To receive a
loan, companies must agree to create a specific number of jobs within a defined period, then maintain
this level of employment for an additional set period of time. Dent Instruments received a business
development loan in the amount of $12,000 on April 13, 2011 with terms that included adding six (6)
full-time employees on or before November 11,2012 and maintaining a level of twenty-one (21) full
time employees through November 11,2013. As certified by Economic Development for Central
Oregon (ED CO), Dent Instruments has met these terms and, in accordance with the agreement, is
eligible to have the loan converted to a grant.
FISCAL IMPLICATIONS:
None.
RECOMMENDATION & ACTION REQUESTED:
Authorize County Administrator to convert $12,000 business loan made to Dent Instruments to a grant.
ATTENDANCE: Judith Ure, Management Analyst
DISTRIBUTION OF DOCUMENTS:
N/A
DESCHUTES COUNTY
Business Development Forgivable Loan Program
Loan Recipient: Dent Instruments
64 NW Franklin Street
Bend, OR 97701
541-388-4774
Agreement No.: DC-2011-138
Date of Agreement: April 13, 2011
On behalf of Economic Development for Central Oregon, I hereby certifY that Dent Instruments
has met all conditions ofthe Deschutes County Business Development Forgivable Loan Program
as specified in Agreement DC-2011-138 (attached),
I further attest that a representative of Economic Development for Central Oregon has reviewed
employment and payroll records furnished by Dent Instruments and that such records confirm
that Dent Instnnnents:
a) Employed a baseline offtfteen (15) full-time employees on November 11,2010, and
b) Increased the number of full-time employees by six (6) for a total of twenty-one (21) full
time employees on or before November 11,2012, and
c) Maintained a total of twenty-one (21) full-time employees over any 12-month period
through November 11,2013.
I therefore, request that the Deschutes County Board of Commissioners authorize that the
business development loan to Dent Instruments be converted to a grant in accordance with the
terms ofthe attached agreement.
Economic Development for Central Oregon
By: ----7"'$"---f---;rt"'---""'----
D~e: ______________________~__________________
Deschutes County Board of Commissioners
1300 NW Wall St., Suite 200, Bend, OR 97701-1960
(541) 388-6570 -Fax (541) 385-3202 -www.deschutes.org
AGENDA REQUEST & STAFF REPORT
For Board Business Meeting of May 14, 2014
DATE: May 6,2014
FROM: Judith M. Ure Administrative Services 541-330-4627
TITLE OF AGENDA ITEM:
Consideration of converting $33,333.33 portion of business loan made to G.L. Solutions to a grant.
PUBLIC HEARING ON THIS DATE? No.
BACKGROUND AND POLICY IMPLICATIONS:
The Deschutes County Business Development Forgivable Loan Program was initiated to encourage and
assist companies seeking to relocate and/or create new jobs within Deschutes County. To receive a
loan, companies must agree to create a specific number of jobs within a defined period, then maintain
this level of employment for an additional set period of time. G.L. Solutions received a business
development loan in the amount of $50,000 on December 29,2010 with terms that included adding
thirty-nine (39) full-time employees on or before November 9,2012 and maintaining a level of seventy
three (73) full-time employees through November 9, 2013. As certified by Economic Development for
Central Oregon (EDCO), G.L. Solutions created and maintained twenty-six (26) new full-time jobs by
the due dates and repaid a portion of the loan in the amount of$19,515.22 that corresponds with
principle and interest related to the thirteen (13) full-time positions agreed to, but not created. In
accordance with the agreement, G.L. Solutions is eligible to have the remaining $33,333.33 of the loan
converted to a grant.
FISCAL IMPLICATIONS:
None.
RECOMMENDATION & ACTION REQUESTED:
Authorize County Administrator to convert $33,333.33 portion of business loan made to G.L. Solutions
to a grant.
ATTENDANCE: Judith Ure, Management Analyst
DISTRIBUTION OF DOCUMENTS:
N/A
DESCHUTES COUNTY
Business Development Forgivable Loan Program
Loan Recipient: G.L. Solutions
3020 NW Merchant Way
Bend, OR 9770 I
541-312-3662
Agreement No.: DC-2010-749
Date ofAgreement: December 29,2010
On behalf of Economic Development for Central Oregon, I hereby certify that G.L. Solutions has
complied with the conditions ofthe Deschutes County Business Development Forgivable Loan
Program as specified in Agreement DC-2010-749 (attached).
I further attest that a representative of Economic Development for Central Oregon has reviewed
employment, payroll, and accounting records furnished by G.L. Solutions and that such records
confirm that G.L. Solutions:
a) Employed a baseline ofthirty-four (34) full-time employees on November 9,2010, and
b) Agreed to increase the number of full-time employees by thirty-nine (39) for a total of
seventy-three full-time employees on or before November 9,2012, and
b) Actually, increased the number of full-time employees by twenty-six (26) for a total of
sixty (60) full-time employees on or before November 9,2012, and
c) Maintained a total of sixty (60) full-time employees over any 12-month period through
November 9,2013, and
d) Repaid a portion of the Deschutes County business development forgivable loan in the
amount of$19,515.22 that corresponds with the principle and interest related to the
thirteen (13) full-time positions agreed to, but not created.
I therefore, request that the Deschutes County Board of Commissioners authorize that the
remaining portion of the business development loan to G.L. Solutions be converted to a grant in
accordance with the terms of the attached agreement.
Date: 5"-19-1'/