HomeMy WebLinkAbout2011-R-07 2011 —R 1
BEFORE THE COMMON COUNCIL
FOR THE CITY OF JEFFERSONVILLE
IN THE STATE OF INDIANA
A Resolution recommending approval of a loan for S30,000 to Subway of Indiana
for the renovation of 202 Tenth Street, Jeffersonville, IN.
Whereas, The Jeffersonville Revolving Loan Committee has the power to loan money to
businesses in the downtown area; and
Whereas, The Jeffersonville Revolving Loan Committee has held a meeting and all the
members agree to loan Subway of Indiana. a low interest loan for $30,000 for renovation
of 202 Tenth Street, Jeffersonville, Indiana; and
Whereas, The Jeffersonville Revolving Loan Committee agrees to a term of 66 months,
including six months interest only, at 2.5% interest; and
Whereas, Subway of Indiana will open a restaurant serving sub sandwiches after
renovations are made to the building: and
Whereas, The Revolving Loan committee recommends the Council approve this loan;
THEREFORE IT IS RESOLVED that the Jeffersonville Revolving Loan committee
is hereby authorized to loan Subway of Indiana $30,000 to make renovations at 202
Tenth Street and open a restaurant.
Adopted this 24th day of February, 2011.
JEFFERSONVILLE CITY COUNCIL
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Mika. mith, President
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Attest
Pegg I der, Clerk- Treasurer
PRESENTATION TO EXECUTIVE
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Presented to the City's Executive, Mayor Thomas Galligan, this yr �
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2011.
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Mayor Thomas R. G.i Ii
City ofJeffersonville, •
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