CCR1993260COMMON COUNCIL - CITY OF MUSKEG0
RESOLUTION #260-93
APPROVAL OF LOAN FUND PRE-APPLICATION
Kids Kampus South, 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, Kids Kampus South, Inc. has submitted a pre-application
form requesting a loan in the amount of $152,510; 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
$152,510 submitted by Kids Kampus South, Inc.
BE IT FURTHER RESOLVED that the City is receptive to submittal
of formal application by the applicant.
DATED THIS 23RD DAY OF NOVEMBER , 1993.
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
Resolution #260-93 which was adopted by the Common Council of
the City of Muskego.
11/93 jmb
Attachment A
CITY OF MUSKEGO
Revolving Loan Fund Pre-npplication
1. Business Name: Kids Kmuus South. Inc.
Address: 17612 W. National Avenue
Nev Berlin, Wisconsin
Contact Person: Sue Krienitz
Telephone No.: 1414) 679-0870
2 Brief Project Description! Kids K~DUS South. Inc.. is UrODoSink! tO COnSfrUCf a
new children's daycare facility in the Muskt!Fo Industrial Park. The President Of
Kids ~am~us South. Sue Krienitz currentlv owns and operates the Kids K~DUS
. Daycare center in New Berlin. 'Rie new Muskeao davcare faCilitV Will emDloV a
minimum of seven full-time people and two Cart-time woule and will have an
enrollment of anaroximatelv 80 children (this does not include after-school
children). The financing structure for the Droiect can be found in the sources
and uses statement.
3. Source and Use of Funds
a) Land Purchase ..... .
b) Building Construction ..
c) Play Ground Equipment ..
d) Furniture & Fixture6 ...
e) Working Capital .......
f) Eligible Closing Costs
TOTAL PROJECT COSTS ....
RLF Bank Equity
Financing Financing Financing Total
$0 $40,000 $0 $40,000
10,000 0 0 10,000
10,000 0 0 10,000
109,500 215,500 0 325,000
21,500 0 21,500 43,000
1.510 0 0 1,510
$152.510 $255,500 $21,500 $429.510
4. RLF Assistance Requested
a) Loan Amount ,. .. ... ... $152,510
b) Interest Rate (percent) . , 4% for 3 :frs/P+2 for 7 Yrs
c) Loan Term (years) ..... ... 10 Years
~~
5. Source of Private Debt Financing
~~
Name: Marquette Savinas Bank
Address: 10533 W. National Avenue
West Allis. Wisconsin. 53227
Contact Person: Richard A. Knisbeck
Telephone No : 1414) 327-3700 0
6. Job Creation and Retention
New Jobs Retained Jobs
Number Pay Ranne- Number Pay Ranne -
Full-time Jobs ....... 7 $5.00 - $8.00 $
Part-time Jobs . . - 2 $4.50 - $6.00 $
TOTAL JOBS ...... 8
7. Date Project Will Begin February-March 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 0
For additional infomation about the City of Muskego RLF program, please
contact the Director of Planning at (414) t~79-4100.
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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