HomeMy WebLinkAbout2012-08-27 12-281 ORDERCOUNCIL ACTION
Item No. 12-281
Date: August 27, 2012
Item/Subject: ORDER, Approving Community Development Block Grant Loan
Application of C&L Aviation Services
Responsible Department: Community and Economic Development
Commentary:
C&L Aviation Services is a successful aviation firm located in Bangor at the Bangor International
Airport. The business has expanded significantly since taking over the former Telford Company, and
has plans for further expansion. As part of this overall expansion project, which includes leasing
additional space from the Airport, the firm has applied for a loan from the City's Community
Development Block Grant Business Development Assistance loan fund in the amount of $250,000.
This loan will assist with the financing of the expansion including purchasing new equipment, working
capital and will create significant employment opportunities. The loan will be forgivable under certain
terms and conditions.
If approved, this Order will authorize the Director of Community and Economic Development to
execute the necessary documents to make the loan.
Manager's Comments:
Associated Information: Otl--
Budget Approval:
Legal Approval:
Introduced for
X Passage
First Reading
Referral
Department Head
f' City Manager
Finance Director
Page _ of _
Assigned to Councilor Gratwick
CITY OF BANGOR
12-281
AUGUST 27, 2012
(TITLE.) ORDER, Approving Community Development Block Grant Loan Application of
C&L Aviation Services
BE IT ORDERED BY THE CITY COUNCIL OF THE CITY OF BANGOR THAT
WHEREAS, C&L Aviation Services, desires to expand their presence in the City of Bangor and
expand its employment in the City; and
WHEREAS, the new employment generated by C&L Aviation Services makes it eligible for
assistance under the City's Community Development Business Development Asssitance Loan
Program; and
WHEREAS, the number of new jobs and investment created by C&L Aviation Services at their
facility will provide a substantial public benefit by providing a significant number of new
employment opportunities in Bangor and the surrounding area;
NOW, THEREFORE, BE IT ORDERED BY THE CITY COUNCIL OF THE CITY OF
BANGOR THAT the Director of Community and Economic Development is authorized to
execute any and all documents necessary to make available to C&L Aviation Services a
Community Development Business Development Assistance Loan in an amount not to exceed
$250,000. Said loan shall be forgivable under certain terms and conditions and shall be in a
final form as approved by the Director of Community & Economic Development and the City
Solicitor or Assistant City Solicitor.
(TITLE,)
Assigned to Councilor
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