Res 2012-156 - Laserfiche WebLink

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This category is defined by the amount of asset this project will be to the City. The factors considered are local community benefit, the match of the job skills of the local labor pool, the potential tax base expansion, and the wealth creation or retention provided by the project. It also determines the extent the project is in accordance with the City's Economic Development Strategic Plan and forwards the City's Developmental Mission. A project located in a designated enterprise zone will receive special consideration. (D) Project Feasibility (Maximum Points 35) The feasibility of each project is evaluated and scored based on the financial soundness of the project. Factors examined include firm commitments for financial investments and the jobs to be created or retained; the history of the business; the current financial condition of the business, including a full review of the credit analysis; cash flow projections; the business or marketing plan, including letters of intent to purchase products or services; and management experience of the business' principals. (4) The City may conduct a site visit of the proposed project. (5) Development Services staff will prepare a summary of the request and the scoring for the City Manager's review. (6) The City Manager makes the final decision on whether or not an award will be made. If the project is determined to be feasible and funding is approved, the City will notify the applicant of its determination. (7) If a project is determined not to be feasible and is denied, the City will notify the applicant of its decision, including the basis for denial. (8) The City will work with the applicant to explain program rules and may negotiate any element of the final contract agreement with the recipient. All negotiations will be based on the information provided in the application. (9) The City will prepare all necessary legal documents for execution by the applicant and the City Manager. Three Month Rule- Any RLF recipient that has not begun project activities within the first three (3) months of the contract period may have RLF contract funds de- obligated and its contract terminated. Project activities which RLF contractors must begin to meet this requirement include procurement of special services, drawing down funds, etc. Technical Assistance - When requested, technical assistance will be made available. Assistance for applicants with limited English proficiency will be made available upon request within 2 business days. The Texas State University Small Business Development Center (SBDC) works with existing and startup small businesses to help them grow and compete in today's global economy. The SBDC provides free counseling assistance to business owners. The SBDC can be contacted by telephone at 512 - 716 -4800; by e-mail at SBDCa-txstate.edu. Their web address is: www.business.txstate.edu /sbdc /. 12