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Home My WebLink About4.A Commercial Exterior Improvement Program Loan - Terry and Marilyn Hennen 111111Nball General Business 4. A. SI1AKoi EE TO: Economic Development Authority FROM: Samantha DiMaggio, Economic Development Coordinator DATE: 11/17/2015 SUBJECT: Commercial Exterior Improvement Program Loan -- Terry and Marilyn Hennen Background Terry and Marilyn Hennen, owners of the building located at 101 South Lewis St. in downtown Shakopee, have requested a deferred/forgivable loan from the City's Commercial Exterior Improvement Program. If the application is approved, the following work will be done to the exterior of the building: •New windows on the second and third floors of the building The total estimated project costs for the exterior improvements is $14,990. The second estimate received for project showed the total project costs being $16,680. The applicant is requesting a 5 year deferred/forgivable loan in the amount of$7,495. Action Sought If the EDA concurs, it should, by motion, approve a Commercial Exterior Improvement Loan in the recommended amount of$7,495. The EDA should also authorize the appropriate officials to enter into Repayment Agreement with Terry and Marilyn Hennen for the building located at 101 South Lewis Street, Shakopee. Attachments: Application SHAKOPEE Commercial Exterior Improvements Loan Application The City of Shakopee is proud of its historic downtown and other commercial areas and would like to encourage property owners to maintain and invest in their properties in order to preserve them as a profitable businesses and attractive destinations for years to come. The Commercial Exterior Improvement Loan Program,formerly known as the Facade Improvement Program,allows businesses to apply for a forgivable loan from the City of Shakopee for exterior building improvements. HOW IT WORKS BEFORE For successful applicants,the City of Shakopee pays up to 50 percent of project costs for eligible exterior-building improvements.Atypical award is$25,000.The City may consider additional funding requests for i """ AUTO PARTS far- renovations to historic commercial properties.Awarding of loans is dependent upon availability of funding_ LOAN FORGIVENESS __' Forgiveness of a loan takes place over a five-year period with 20 percent ^— '' - " of the award forgiven annually.The City may extend or reduce the 230 First Ave.E. repayment period based on the dollar amount of the award. If the benefiting building is sold within the period of the loan,the loan AFTER must repaid.The City may consider alternatives to immediate repayment V le The applicant has one year from the award date of the loan to complete - d--. FORTHEJOURNEY the project and request payment of loan funds.All loan funds will be = paid upon receipt of paid invoices for the project and proof of payment ° ' ' HOW TO APPLY Interested property owners are encouraged to apply.There is no -- - application deadline;however,funds are limited and will be awarded to qualifying applicants on a first-come,first-served basis.Final decisions on applications are made by the City's Economic Development Authority. APPLICANT INFORMATION Applications must be submitted by the property owner(s)or the building tenant in conjunction with the owner(s). Name(s): "rocrl We,rirval Telephone: 450,- ,g3'7 - 77,1, Email: Mailing Address: I (J(LP�1(2 Q . aa , City: SJ14 Liu e e State: frig Zip Code: 55 3 72 COMMUNITY PRIDE SINCE 1857 129 Holmes Street South•Shakopee,Minnesota•55379-1351•952-233-9300•FAX 952-233-3801•www.ShakopeeMN.gov PROPEINFORMATION . The Commercial Exterior Loan program is open to all commercial properties,constructed before 1980,in the City of Shakopee. Address of the Building to be Rehabbed: fQ l S 0. Le-iv I S s.± • Parcel ID #: Age of the building: 1 5 314Number of stories: Is the building currently vacant? Yes No If yes, estimated Iength of vacancy: Business/Occupant Name:—[Q.rr(f iliaiLdC yy1 .g,�/'L�-''L. Has this property previously received a facade grant?Q Yes Ii No If yes,for how much,in what year and what were the funds used for? PROJECT INFORMATION Eligible expenses are limited to improvements that are visible from the exterior: • Roofs(flat or pitched) Painting 0 Windows,Doors Lighting,Awnings,Signage • Siding,Brick • Restoration of historic details • Removal of blight from property • Other items deemed appropriate by the City's Economic • Planting of trees Development Authority Loan recipients are required to seek at least two bids for all projects.It's assumed the EDA will select the contractor with the lowest bid. Aka) Latin' It " oU a4- e-,0 1i49 R Estimated Total Cost of Proposed Rehabilitation Work: $ W 1 r4014)&71611:11. 1(01 60'tio Requested Loan Amount from the Program:$ 114°6 Describe proposed improvements: rte_AA7 0 limdji,I /).a.A., and ?\3/11 REQUIRED ATTACHMENTS • Renderings and/or plan drawings showing proposed improvements. • A minimum of two contractors'bids or proposals with a breakdown of itemized costs. • Proof of Insurance on the building COMMUNITY PRIDE SINCE 1857 129 Holmes Street South•Shakopee,Minnesota•55379-1351•952-233-9300•FAX 952-233-3801 •www.ShakopeeMN.gov DATA PRACTICES ACT The information that you supply in your application to the City of Shakopee/Shakopee EDA("City")will be used to assess your eligibility for financial assistance.The City will not be able to process your application without this information.The Minnesota Government Data Practices Act(Minnesota Statutes,Chapter 13)governs whether the information that you are providing to the City is public or private. If financial assistance is provided for the project,the information submitted in connection with your application will become public,except for those items protected under Minnesota Statutes,Section 13.59,Subdivision 3(b)or Section 13391,Subdivision 2. I have read the above statement and I agree to supply the information to the City with full knowledge of the matters contained in this nnoorce_I certify that the information submitted in connection with the application is true and accurate. f /®f Z2-/ S Applicant Si ature/Title Date • yy-) 0,1Legoi QurLuv\ /b as -Js Co-Applicant Signature/Title Date City staff or other authorized representative of the City shall have the right to inspect the property to be improved at any time from the date of application upon giving notice to the owner and to occupants. I/We certify that all statements on this application are true and correct to the best of my/our knowledge. I/We understand that any intentional misstatements will be grounds for disqualification. I/We have read the City of Shakopee's Commercial Exterior Improvement Policy and will abide by the rules and regulations set forth in the policy adopted on Sept.20,2014. I/We authorize program representatives the right to access the property to be improved for the purpose of the deferred loan program and to take photographs of the structure before and after rehabilitation. I/We understand that I/we are responsible for obtaining appropriate building permits,per the Shakopee City Code. In the case of improvements that do not require a city-issued building permit,the applicant must submit the name and state license number of the contractor completing the work and agree to an inspection of the work by a city building official. I/We further understand that I/we will make the final selection of the improvements to be made with the loan funds and that the contract for improvements will be solely between me and the contractor(s).The administering agency will not be liable for the inadequate performance of the contractor(s). Ce —22 /S' Applican ignature/Title Date lb-aa-/s Co-Applicant Si ature/Title Date COMMUNITY PRIDE SINCE 1857 129 Holmes Street South•Shakopee,Minnesota•55379-1351•952-233-9300•FAX 952-233-3801•www.ShakopeeMN.gov FA. Hew Name: re fir, �-e/1/7d!" Windows Address: ///6 (i 44//_$j s/-,711 for flmerica City: ....._,C- .4 o,O pe StateZip: _S-27.7 77 NEW WINDOWS FOR AMERICA OF MN,INC. Home Ph: 2123 Old Hwy.8 NW•New Brighton,MN 55112 �+ (651)203-0149•Fax:(651)203-0554 Work Ph: Cell Ph: !-�v2 - �-C� G Z Lic.#BC248265•www.NWFAMN.com E-mail: },✓ TYPE COLOR Interior Exterior SERIES Double Hun /E7 White �' 9 Casement Picture Window Slider Dbl Casement Bay/Bow Tan /E� v Clay Series 300 FInswing Slider Trp Casement Patio Door Cavalier Oak N/A Sherwood o L Configuration L Handle Dark Oak N/A c Light Oak N/A Prestige 3 L Toe Lock Cherry Oak N/A Heartland 3 Lite Slider 7 Other Poplar Wood N/A Oak Wood N/A Configuration Vista Other Other GLASS OPTIONS Low E/Argon-DP - / Low E/Krypton Full Screen Prairie/Georgian Grids Low E/Argon-TP V/ Obscured HD 1/2 Screen Colonial Grids L Location cnc .2 Tempered 15. O L Location WRAPS INSTALLATION/ Full 1,7 Stop Triple None Weight Cavities Retro Fit Color nry,ov.v CLQ t7 Full Frame Other Other All vinyl windows are standard with PVC virgin vinyl,multi-chambered fusion welded frames and sashes:multiple weather-stripping,lifetime warranty on all parts,glass breakage,non-prorated glass seal failure, and lifetime labor warranty. Additional Work/Notes • : ---77..„- r n-Y c �4�-- 4./..>r ran gy. //y /'r r -J�.,a p L4,7 &.— /"A L ve,1, yi7 74!1C(„! ,,,) /U p 0/1451,Y7.0 7-7 Retail Price $ 6 $ d/) Sales Cost Savings Plan $6-S---ff -y‘___.) Subtotal $ Total Cash Price $ / 55. ? 'd Custom Order Deposit 50% $ Balance Due to Installer Upon Completion $ ❑Cash ❑Financed ❑Visa/MC ❑Discover ❑AE THE BUYER(S)REPRESENT THAT HE IS,SHE IS OR THEY ARE THE OWNER(S)OF THE ABOVE MENTIONED PREMISES AND ACKNOWLEDGE RECEIPT OF A COPY OF THIS AGREEMENT AND,FURTHER,AGREE TO THE TERMS,CONDITIONS AND NOTICES ON THE REV SIDE OF THIS AGREEMENT THE SAME AS IF THEY WERE PRINTED ABOVE THEIR SIGNATURE. IN WIT WHER e , e owne s)hereto has(have)executed this agreement the date and year fir above written: Contractor Representative Date Buyer L Date 612 -,c-7g -YYzg Co-Buyer Date REQUIRED NOTICE TO BUYER (A) Do not sign this before you read the writing on the reverse side,even if otherwise advised. (B) Do not sign this if it contains any blank spaces. (C) You are entitled to an exact copy of any agreement you sign. (D) You,the Buyer,may cancel this purchase at any time by delivery of written notice prior to midnight of the third business day after the date of this purchase.