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J U L 1 1981 BOOK 4 PAGE ��5 4 THE BOARD OF COUNTY COMMISSIONERS RECESSED AT 12:00 O'CLOCK NOON FOR LUNCH AND RECONVENED AT 1:30 O'CLOCK WITH THE SAME MEMBERS PRESENT. THE BOARD REVIEWED THE FOLLOWING MATERIAL: ��.o.ei:_:'u'°i;a'.%s'�Gc¢w.-`..�.rs^�FL�'m� -1 C U A F U R A t s .. 1226 N. W. 23rd AVENUE/ FT. LAUDERDALE, FLORIDA 33311 /TELEPHONE (305)684-5990 May 29, 1981 Mr. Neil Nelson County Administrator Lawyers Title Building 2345 14th Avenue Vero Beach, Florida 32960 Dear Mr. Nelson: This application for the issuance of an IRB is made to you so that Rampmaster, Incorporated can move to Indian River County. The company world bring with it a present employment of approximately 40 people with an average salary of close to $15,000 per person. Considering a marginal propensity to spend of a conservative 90", the effect is 10 times the payroll or a $5 million impact on the county. However, the main reason for the company's move is that we have outgrown our present facility and it is felt that in a very short period at least 60 to 80 people would be employed, and then the impact of that payroll would be even greater. Last year the company purchased over $1.5 million of goods and services. While the primary purchases of the company are aluminum products that come from out of state, many supply items are pur- chased in the local market. These purchases, along with the added employment, should also have a positive impact on the local economy. The company's products are sold on a national and international basis with a space advertising budget of at least 2 to 4% of sales. These advertisements would show Vero Beach as our home address - a fact of which we would be very proud. The project that is contemplated would.approach $850,000. This issue would be sold to Southeast Bank or First State Bank of Miami, both of which have expressed interest in the project. The bonds security would be guaranteed not only by the company but by the principal stock holders as well. Ownership of the project would be in the name of William A. Davis and Robert H. Davis, Jr. and would be handled by a leveraged lease with assignment of the rent to the lender.