HomeMy WebLinkAbout2011-R-43 2011 -R- 43
BEFORE THE COMMON COUNCIL
FOR THE CITY OF JEFFERSONVILLE
IN THE STATE OF INDIANA
A RESOLUTION FOR THE APPROVAL OF A $20,000 LOAN TO MR. PHILLIP
WHEELER FOR THE RENOVATION OF 426 SPRING 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 Mr. Phillip Wheeler a low interest loan for $20,000 for
renovation of 426 Spring Street, Jeffersonville, IN; and
WHEREAS, the Jeffersonville Revolving Loan Committee agrees to a term of 66
months, including six (6) months interest only, at 2.5% interest; and
WHEREAS, Mr. Phillip Wheeler will open a consignment shop 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 Loam Committee is hereby
authorized to loan Mr. Phillip Wheeler 320,000 to make renovations at 426 Spring Street,
Jeffersonville, 1N.
Adopted this'' ' day of December, 2011.
ii2v Vote fo : Vote against:
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Attest: , ltT.Q.Q.w _
Peg er, Clerk - Treasurer
PRESENTATION TO EXECUTIVE
Presented to the City's Executive, Mayor Thomas Galligan, this Cr day of A J� kiesdi -, 2011
Peggy 11 er, Clerk Treasurer
j t L •roved _ Denied
m asGalligan, ayor
City of Jeffersonville