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the Energy Resource Center Annual Report, available in May of <br />each calendar year" <br />Budget <br />The Energy Resource Center will provide all loan origination <br />services (eligibility analysisv title and credit checks), sub- <br />contracting for loan servicing, coordination of energy audits, <br />information and technical assistance on energy conservation <br />measures, marketing (in cooperation with the community), and <br />preparation of legal documents- <br />Service Activity /First Year Only) Dollars <br />Cn9P FRc Total <br />1" Staff Cnsts:1,5 persons $10,000 $35,000 $45,000 <br />2^ Marketing 59000 0 5,000 <br />3. Operational Overhead 2,900 4,000 6'000 <br />4, Legal 3v000 19000 1,000 <br />5" Servicing Fees 0 2,400 2,100 <br />TOTAL 20,000 <br />42^400 62,400 <br />The ERG intends to offset a portion of the loan servicing costs <br />over the program life by using interest generated on the CDBO <br />installment loans and interest accumulated by the loan pool <br />during the two year origination period. All principal from CD116 <br />monies will return to Ramsey County. A schedule of principal and <br />interest repayments on $138,000 at 3% over a ten year term is <br />enclosed as Attachment A. This schedule approximates repayment <br />of the CDBG 3% installment loan portfolio, assuming 100% <br />commitment of funds and a ten year term for each loan. <br />4 <br />