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One thought 1 have had is that we could use these funds to expand and enhance our BRLF. <br />One way would be to forego the BRLF as initially conceived and use our available dollars to <br />fund our contribution to TCCCF. Our remaining money ($50,000 to $150,000) could be used <br />to buy down the interest rate on the TCCCF portion of the loan that qualifies as "desired <br />improvements" pursuant to our BRLF guidelines. In this way, we are not restricting the type <br />of improvements a business can undertake while still providing incentives for the aesthetic <br />improvements we desire. It also avoids our underwriting of the loan and on -going credit <br />management. <br />Another option would be to continue with the BRLF and participate in TCCCF also to <br />provide additional financing options for local projects beyond the BRLF program. (Dick <br />Biagini's office building on Country Drive might have been a possible candidate for this type <br />of financing.) <br />Finally, we could chose not to participate in TCCCF at all. With limited development <br />opportunities, this type of program may not receive a lot of interest in Little Canada. <br />My recommendation would be to consider foregoing the BRLF and using TCCF to <br />accomplish our goal. However, I would like to talk to a few business and lenders before <br />locking in on this approach. <br />Council comment and direction is needed. <br />2 <br />