HomeMy WebLinkAboutEDL Consumer Cellular Conversion Agenda Request
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 November 5, 2014
_____________________________
DATE: October 29, 2014
FROM: Judith M. Ure Administrative Services 541-330-4627
TITLE OF AGENDA ITEM:
Consideration of converting $50,000 business loan made to Consumer Cellular, 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 of jobs within a defined period, then maintain
this level of employment for an additional set period of time. Consumer Cellular, Inc. received a
business development loan in the amount of $50,000 on November 26, 2012 with terms that included
adding two hundred (200) full-time employees on or before March 1, 2014 and maintaining a level of
two hundred (200) full-time employees for a additional 12-month period to occur on or before March
15, 2015. As reported by Economic Development for Central Oregon (EDCO), Consumer Cellular,
Inc. met the job creation requirement by June 30, 2013 and maintained the new jobs for the required 12-
month period by June 30, 2014. In accordance with the agreement and current Board practice,
Consumer Cellular, Inc. is now 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 Consumer Cellular, Inc. to a
grant.
ATTENDANCE: Judith Ure, Management Analyst
DISTRIBUTION OF DOCUMENTS:
N/A