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LRAC PKT 01-15-20141. Call to Order Chair Evans 2. Roll Call Catalano 3. Public Comment Chair Evans 4. Approval of October 16, 2013 Minutes Chair Evans 5. Committee Member Reports Chair Evans 6. Staff Reports a) Universal Cartridge LLC Loan Payments Bennett 7. Old Business 8. New Business a) Request to substitute collateral Universal Bennett Cartridge LLC b) Proposed LRAC Retreat Bennett 9. Adjournment Next regularly scheduled meeting: April 16, 2014 5:30 — 7:30 pm Hylebos Conference Room COMMITTEE MEMBERS PRESENT: Graham Evans, Chair; Donald Bartlett, Vice Chair; Lori DeVore; Mark Hutson; Frank Spicer. COMMISSION MEMBERS ABSENT: Keven Dunn. STAFF PRESENT: Jay Bennett, Community Services Manager; Dee Dee Catalano, CDBG /Human Services Coordinator; Amy Jo Pearsall, City Attorney. GUESTS: None. CALL TO ORDER The meeting was called to order at 5:29 pm. ROLL CALL Dee Dee Catalano took the roll. APPROVAL OF MINUTES Lori DeVore moved to approve the July 22, 2013 meeting minutes. Donald Bartlett seconded the motion, which carried 4 — 0. COMMITTEE MEMBER REPORTS STAFF REPORTS a) Amendments to CDBG PY 2013 Annual Action Plan Jay Bennett reported that the amendment to the 2013 CDBG Annual Action Plan was approved by the City Council and will be submitted to HUD with the 2014 Annual Action Plan 1 b) PY 2014 CDBG Annual Action Plan Jay reported that the 2014 CDBG Annual Action Plan was approved by the City Council on October 15th and will be submitted to HUD on November 15, 2013. Jay suggested that another banker's breakfast be held in January to advertise the CDBG loan programs. Committee members suggested that insurance brokers and mortgage brokers also be invited to the breakfast, and that it be advertised to retired military personnel as well. OLD BUSINESS a) Universal Cartridge USA, LLC Loan Jay Bennett reported that the CDBG microenterprise loan for Universal Cartridge LLC was approved by the City Council on August 6th NEW BUSINESS a) Commercial Exterior Improvement Program Application Review Process The Committee discussed the application review process for the Commercial Exterior Improvement Program (CEIP). An application was recently given to Loan Application Review Team #3 for review, but the applicant withdrew the application. After discussion, the Committee agreed that they should review CEIP applications after the staff review and preliminary inspection and permitting has been done. b) September Loan Status and Payment Records Jay Bennett reviewed the monthly loan status report and loan payment report. ADJOURNMENT The meeting adjourned at 6:35 pm. NEXT MEETING Regular Meeting January 15, 2014 5:30 - 7:30 pm Hylebos Room 2 1% CITY OF Federal Mr. Charles Gathu Universal Cartridge USA, LLC 315001't Ave S Apt #8101 Federal Way, WA 98003 Mr. Gatu, �� Community Services 333258 th Avenue South Federal Way, WA 98003 -6325 253 835 -2650 www.cityoffederalway.com January 6, 2014 The City of Federal Way CDBG Loan for your business was conditioned that you submit auarterly reports for your business. These reports include: A Balance Sheet, A Profit and Loss Statement; and Copies of your personal and Universal Cartridge's bank statements for the past three months These items will need to be submitted to my office no later than January 30, 2014. Please do not hesitate to contact me if you have any questions regarding this matter. Y rs sincerely, Jay Bennett, Community Services Manager City of Federal Way (253) 835 -2650 Pc: Denise Catalano, City of Federal Way CDBG Coordinator CITY OF Federal Way Lo . an Billing Statement Community Services 33325 9th Avenue South Federal Way, WA 98003 (253) 935-2409 www.cityoffedefalway.com Bill To: Charles Gathu Statement Date: January 6, 2014 dba Unhfersal Cartridge USA, LLC Due Date: February 1, 2014 31500 1St Ave S, Apt 3101 Customer ID: M-13-01 Federal Way, WA 98003 CURRENT LOAN STATUS Loan Salaam $12,674.02 Last PwfmeM Received Amount Received $IWM ApMied to Interest $105.09 AWled to PdncW* $0-00 I- -N — —I RRrCG,- S Please detach here and send with your payment Amount Enclosed: Reminder. Plawe nuM yon check payable to the Cky of Federal " and hxkmk your Low Ntanber on Vow I I 4 I AMR m I ml Co \ � 777k \ �� tow E g �� WSU "ED \/2 a / � � � � C14 0 LLI >%'a 0 I © lab LL Co \ � 777k \ �� tow E g �� WSU "ED \/2 a / � � � � n CITY OF Federal Way ANNUAL STATEMENT OF ACCOUNT DATE DESC RIPTION AMOUNT FEES INTEREST PRINCIPAL ACCOUNT BALANCE 09/23/13 Disbursement 18,500.00 $ - $18,500.00 09/23/13 OrginaMon Fee (AmerUnd) 150.00 150.00 $18,650.00 09/23/13 UM Alft Fee WnfffiZ4 23.00 23.00 $18,673.00 09/23/13 TMe -Frandw Fee (AmoMzed) 31.00 31.00 $18,704.00 *Cho& with your accounbot to detwwdne what Is Tax Deductible SUMMARY Total Paid 2013 $613.60 Total Few $354.00 Total Interest $229.62 Total Principal $ 29.981 M r— O N M N E CD V N U LL c_ F, -a Ow o (D CL O LL J Fa- O H 1 ii�O a a 0 M t E9 i N N u " CO . 3r,' � Vi J H O F- Doom YI Y 3MME" onion" t M' j 3w . 0 0 SIR CL T c C Uo c f a OR f rat µ AM f Z N W C i fA �c� Ail 0 Apr; ":' O t dfH ti :A � V fg mR �i 3MME" onion" t l6 M' j L 0 0 SIR CL T c C Uo c a OR f J µ AM f Z N W C i fA �c� Ail 0 Apr; ":' O t l6 M' j L 0 0 Q CL E Uo o J N N W C rN fA �c� to Apr; N E ti (a V