CCR1994113COMMON COUNCIL - CITY OF MUSKEG0
RESOLUTION #113-94
APPROVAL OF LOAN FUND PRE-APPLICATION
CATS Nationwide, Inc.
WHEREAS, the City of Muskego is a participant in the Revolving
Loan Fund (RLF) Plan; and
WHEREAS, a pre-application form must be submitted to the City by
an interested applicant; and
WHEREAS, CATS Nationwide, Inc. has submitted a pre-application
form requesting a loan in the amount of $100,000; and
WHEREAS, the Finance Committee has recommended approval.
NOW, THEREFORE, BE IT RESOLVED that the Common Council of the
City of Muskego, upon the recommendation of the Finance
Committee, does hereby approve the pre-application form for
$100,000 submitted by CATS Nationwide, Inc.
BE IT FURTHER RESOLVED that the City is receptive to submittal
of formal application by the applicant.
DATED THIS 10th DAY OF May , 1994
SPONSORED BY:
FINANCE COMMITTEE
Ald. Patrick A. Patterson
Ald. Edwin P. Dumke
Ald. David J. Sanders
This is to certify that this is a true and accurate copy of
City of Muskego.
Resolution #113-94 which was adopted by the Common Council of the
5/94 jmb
Attachment A
CITY OF MUSKEGO
Revolving Loan Fund Pre-application
1. Business Name: CATS Nationwide, Inc.
Address: S83 W19105 Saturn Dr. P.O. Box 425
Muskego. Wisconsin 53150
Contact Person: Craie E. Anderson
Telephone No.: 1414) 422-2287
2. Brief Project Description: Purchase additional semi-tractors (4-5);
Hire 4-5 additional truck drivers. one additional sales person, one
additional mechanic, and one part-time mechanic. The financing structure
for the proiect can be found in the sources and uses statement.
RLF Bank Equity
3 Source and Use of Funds Financing Financing Financing Total
a) Land Purchase . ...... $0 $0 $0 $0
b) Building Purchase .... 0 0 0 0
c) Building Construction . 0 0 0 0
d) Building Renovation ... 0 0 0 0
e) Machinery & Equip 100,000 100.000 0 200,000
f) Working Capital ... 0 0 0 0
TOTAL PROJECT COSTS $100.000 $100.000 $0 200,000
4. RLF Assistance Requested
a) Loan Amount $100,000
b) Interest Rate (percent) . 4% for 2 Yrs/P+2 for 3 Yrs
c) Loan Term (years) ... 5 Years
-.
5 Source of Private Debt Financing
Name; ITT Commercial Finance
Address: 526 Crescent Boulevard, Suite 316
Glen Ellvn. Illinois 60137
Contact Person: D. Peter Pabon
Telephone No 1708) 858-3111
6 Job Creation and Retention
Number Pay Range Number Pay Range
New Jobs Retained Jobs
Full-time Jobs 7 $27K - $4OK $
Part-time Jobs . . $ - $
TOTAL JOBS . 7
7. Date Project Will Begin June, 1994
I hereby certify that the information provided above and in the attached
supporting documentation is to the best of my knowledge true and correct
Applicant Signature Date
For additional information about the City of Muskego RLF program, please
contact the Director of Planning at (414) 679-4100.
Please submit the RLF application and supporting documentation to
Director of Planning
City Hall
W182 S8200 Racine Avenue
P 0. Box 903
Muskego, Wisconsin 53150
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