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<br />AUiUst 22: Steve Sarkozy and Dennis Welsch brief the Council on the possible Computype move <br />and alternative financing during a Council meeting break. <br /> <br />AUWJst 23: Dennis Welsch discussed improvements to building with Keith Steinhoff, leasing <br />manager for owner Les Globatt. The building owner wanted the City to deal directly with <br />Computype and wanted nothing to do with a building loan or T.I.F. because he had just bought <br />the building within the past year. Steinhoff noted that the building owner and Computype would <br />try to work out a new 5 year lease agreement (minimum) which lowered the rent for 5 years in <br />return for tenant improvements to the building. This would make the building competitive with a <br />new structure, assuming Computype could get financing for the improvements and new <br />equipment. <br /> <br />AUillst 24: Staff received Dunn and Bradstreet and other background report on Computype and <br />new product announcements. <br /> <br />AUillst 25: Tom Hauschild met with staff to review what the City ofRoseville could offer as <br />assistance to keep Computype in existing Roseville facility and what securities the City would <br />require on any loan. Hauschild will work with First Bank and property owners to develop a <br />partnership and/or refine methods of securing loans. <br /> <br />September 15: City Manager Steve Sarkozy and Council Member John Goedeke toured the <br />facility and met with Rick Huntsinger and Tom Hauschild. <br /> <br />September 20: Tom Hauschild reports on alternatives for financing, noting that Computype <br />wants to work with First Bank and the City ofRoseville to stay at existing site, but that <br />landowner is putting pressure on Computype to make a decision on the five year lease. <br /> <br />September 22: Dennis Welsch met with Hauschild and Gary Dyshaw and Bruce Marsden of First <br />Banle Computype needs a letter of clarification ITom the City which affirmed the City interest in <br />participating with First Bank and Computype. Conceptual approval trom the City Council is <br />necessary. Ed Burrell will/has reviewed the cash flow, collateral, and business plan documents <br />trom Computype and banks. Security for the loan, loan tenn and rate were discussed. Incentives <br />to stay in Roseville after loan or in new building were discussed. <br /> <br />September 26: City Council reviews concept of Computype Revolving Loan in apprqximate <br />amount ofComputype Revolving loan in approximate amount of $600,000. Final numbers are <br />not available at this time. Computype is notified of City Council approval of concept and <br />direction to prepare final document. (See attached RCA of 9-26-94) <br /> <br />S~ptember 27: First Banks begin to refine the participation proposal with the City through Ed <br />Burrell. <br /> <br />October 4: Council (breakfast meeting) receives update on Computype proposal and discusses <br />revisions to fundamentals of Business Revolvini Loan Pro,iram ~ originally presented by staff in <br />April and May in regard to other businesses located along Larpenteur and Rice Street <br />rehabilitation projects. The main objectives of this revolving loan program is to assist business to <br />create or retain jobs in the City and to invest in development or redevelopment of buildings and <br />property. The Council asked that more emphasis be placed on retaining head-of-household jobs. <br /> <br />4 <br />