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2018-08-27 EDA Packet
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2018-08-27 EDA Packet
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8/27/2018 9:38:52 AM
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improvements and professional.fees directly attributable and <br /> essential to a project such as survey, engineering, architectural, <br /> legal and accounting. In this context legal expenditures for such <br /> it as zoning changes title searches, title insurance,recording <br /> fees, etc.,.which are clearly essential to the total project can be <br /> included as project costs. While there is considerable flexibility in <br /> determining the composition of a project, in general it should be a <br /> productive asset when competed. In the classic sense,this would <br /> be land,building,machinery, and equipment. <br /> Elements of <br /> Project Costs In developing the aggregate project costs for the Oakdale Seed <br /> Fund the following guidelines will be used: <br /> La.n.d <br /> Valuation of land injected by the small business concern into the <br /> project should be at the appraised value based on an appraisal <br /> acceptable to the EDA. The appraisal should conform with current <br /> bank regulatory requirements. <br /> Improvements which are paid through special tax assessments or <br /> user fees should not be included in determining project costs. <br /> Improvements to the land which are a portion of the project cost <br /> could include but are not limited to the following: <br /> 1) Grading <br /> 2) New streets or street improvements including curb and <br /> gutter <br /> 3) Parking is <br /> 4) Utilities—water, sewer, gas, electric or <br /> 5) Landscaping <br /> Purchased and/or Rernodel.an.Exisfigg Building <br /> The cost of purchasing an existing building generally includes the <br /> value of the land and applicable fees and charges required to gain <br /> clear title to the property. Purchasing an existing facility with <br /> funds provided by the Oakdale Seed Fund is permissible. <br /> 53 <br />
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