Title
Resolution approving the terms & conditions for an Economic Development Loan to Fire Cycle LLC, located at 9242 W. National Ave., under the National Avenue Commercial Corridor InStore Forgivable Loan Program in an amount up to $50,000.
Body
WHEREAS, David Curtis, owner of Fire Cycle Fitness, LLC, a limited liability corporation created under the laws of Wisconsin, has applied for a loan from the City of West Allis in the amount of Fifty Thousand and 00/100 Dollars ($50,000), under the National Avenue Commercial Corridor InStore Forgivable Loan Program, for equipment and inventory for establishment of boutique fitness studio to be located at 1482 S. 84 St., West Allis; and,
WHEREAS, the Economic Development Program has reviewed the loan request from David Curtis, owner of Fire Cycle Fitness, LLC, and has determined that the Project is eligible for funding under the National Avenue Commercial Corridor InStore Forgivable Loan Program; and,
WHEREAS, the Economic Development Loan Task Force has recommended approval of a National Avenue Commercial Corridor InStore Forgivable Loan for the purpose of completing the Project.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of West Allis that it hereby approves an Economic Development Loan to Fire Cycle Fitness, LLC, located at 1482 S. 84 St., under the National Avenue Commercial Corridor InStore Forgivable Loan Program in an amount up to $50,000 as outlined in Exhibit A hereto and incorporated herein by reference.
BE IT FURTHER RESOLVED that the City Attorney is hereby authorized to prepare loan documents required by the aforesaid commitment.
BE IT FURTHER RESOLVED that the City Attorney be and is hereby authorized to make such non-substantive changes, modifications, additions and deletions to and from the loan documents, including any and all attachments, exhibits, addendums and amendments, as may be necessary and proper to correct inconsistencies, eliminate ambiguity and otherwise clarify...
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