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1999-106
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1999-106
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Last modified
7/31/2023 2:41:47 PM
Creation date
7/31/2023 2:34:51 PM
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Template:
Official Documents
Official Document Type
Grant
Approved Date
04/20/1999
Control Number
1999-106
Entity Name
Berryman & Henigar
Subject
Application to Florida Dept. of Community Affairs (DCA) for Economic Development
Communit Development Block Grant
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Describing any additional development, spin-off lobs, and need for additional goods and services <br />which aro likely to be stimulated in the area by the proposed project; <br />The CRA Care Centers facility (the Job creation site) will be located In unincorporated Indian River County just outside <br />of the City of Sebastian. Tho facility will create additional traffic in the Sebastian area. This traffic will be generated <br />from the people visiting and working at the ALF facility. The increased traffic flow should generate additional <br />customers to existing commercial establishments In the area and may encourage the formation of additional <br />businesses. However, It Is not known at this time which. If any, new businesses will be created as a result of this CRA <br />Care Centers project. <br />Describing what increases, if any, will occur in the tax base, including property, sales, and other <br />taxes; <br />The new building and site improvements planned by CRA Care Centers, Inc. as part of this CDBG funded project will <br />result Ina significant Increase in County property taxes. The new facilities will have an assessed value of over $3 <br />million and will be taxed accordingly. There will also be local occupational license fees. <br />Specifying the anticipated training needs of low and moderate income persons who may apply for the <br />created jobs; and how and who will be providing the training; and <br />CRA Care Centers, Inc, will have an in-house training program. The CRA will also utilize the services of local <br />vocational training school(s). Training will be provide In job specific skills such as food preparation, elder care and <br />nursing. <br />Stating that the cost per job created or retained by each participating party as a direct result of the <br />CDBG assisted activity by each Participating Party is less than $35,000 per job in CDBG funds. <br />The cost per job created as a direct result of CDBG assistance will be less than the maximum cost per job of $35,000. <br />If a loan is proposed from CD8G funds, specify the exact corporate, personal, or partnership name of the <br />borrower(s) and guarantor(s), amount of the loan request, proposed interest rate, proposed term of the loan, <br />frequency of payment, type and value of collateral offered, and proposed lien or mortgage position of the <br />CDBG loan. (The interest rate may be no less than 5.5 percent per annum below the prime interest rate as of <br />the date of the application for this phase, but in no case may it be less than 4 percent per annum), <br />Exact Corporate Name of Borrower: <br />CRA Care Centers, Inc. <br />Type of Organisation: <br />Corporation <br />Guarantor(s), <br />William H. "Bud" Clark <br />Proposed Interest Rate: <br />4% <br />Proposed Tern, of Loan: <br />20 years for building, 7 years for furnishings <br />and equipment <br />Amount of CDBG Loan Request: <br />S640,000 <br />Proposed First Payment Date: <br />January 1, 2001 <br />Frequency of Payment: <br />Monthly <br />i <br />Type and Value of Collateral Offered: <br />Building, land and equipment <br />Proposed Lien or Mortgage Position of the CDBG Loan <br />2nd on the buildings and land <br />1st on equipment <br />
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