Laserfiche WebLink
SI <br />y Dopanment of Employment <br />ore Economic Development <br />Inncsotc <br />Application for Approval of Industrial Development /Revenue Bond Project <br />Pursuant to Minn. Stat. 469.152 — 469.165 <br />Page 1 of 3 <br />Please submit two copies of this form but only one copy of supporting documents requested on page 2. <br />Name of Issuer (Municipality or Redevelopment agency): City of Little Canada, Minnesota <br />Contracting Party Business Name: South Metro Human Services, a Minnesota nonprofit corporation <br />Business Industry and /or Products: Provides clinical mental health services <br />Description of Project Financed by Bond Proceeds: <br />The acquisition and renovation of a residential and therapeutic treatment facility with 16 units of transitional <br />housing and 2,500 square feet of meeting and office space at 1111 Viking Drive, Maplewood, and to refinance <br />additional housing and community services facilities. <br />Location (address and city) of Project: See attached Exhibit A <br />Dates of Construction (if applicable): N/A <br />Date Project Funded by Bonds Expected to be Operational: December 2012 <br />New (not currently in Minnesota) Permanent Full -Time Jobs Created by Project: None <br />Expected Annual Wages of New Full -Time Jobs: <br />Current Jobs at Location: 248 <br />Amount of Issuance Authority Expected to be Requested from MMB: None <br />Maturity Schedule and Interest Rates: 20 year amortization, variable rate based on (5 -year LIBOR Swap Rate <br />+2.50 %) multiplied by 70 %, reset every 5 years <br />Bond Counsel: Trudy Halla, Briggs and Morgan, P.A. Phone: 612 - 977 -8513 <br />IDB Approval 4 -10 <br />4532635v1 <br />Revised 04/10 <br />