1. MIDA bond application-YMCA - Laserfiche WebLink

t4AR 7 2002 CASS COUNTY COMMISSION CASS COUNTY MIDA BOND APPLICATION FORM 1. Name of applicant: Fargo-Moorhead Family YMCA, Inc. 2. Telephone number of applicant: 3. Size of issue requested: 293-9622 $3,800,000 4. Type of issue (check one): (a) (b) (c) (d) (e) X Small issue - $1,000,000 [Section 144(a)] Small issue - $10,000,000 [Section 144(a)(4)] Qualified residential rental project [Section 142(a)(7)] Qualified 501(c)(3) issue [Section 145] Refunding issue Other (specify type): If type of issue checked was small issue ($1,000,000 or $10,000,000), is issue for a manufacturing facility as defined in Section 144(a)(12)(C)? Yes No If type of issue check was qualified residential rental project, will project meet the low income requirements for tenants as set out in Section 142(d)? Yes No 10. Estimated date of issue if approved by County: May l, 2002 Give a brief explanation of project, which explanation should include the location of the project, description of the use of the bond proceeds, and whether or not the project would create additional employment: All of the Bond proceeds will be used for the purposes of (i) financing the renovation of the child care facilities located at 400 l~t Avenue S, Fargo, (ii) refinancing certain indebtedness incurred to construct and equip the child care facilities, locker rooms and weight training facilities located at 4243 19m Avenue SW, Fargo, and (iii) refinancing certain indebtedness incurred to construct and equip the fitness center located at 400 1st Avenue S., Fargo (the "Project"). The renovation of the child care facility is expected to cost approximately $650,000 and will create additional employment. Attached to the Application Form is a check in the amount of $1,000 which is the application fee, which fee is nonrefundable. If issue does close, the application fee shall be deducted from the issuance fee set out in paragraph 11. Attached is a typed Initial Resolution giving project preliminary approval and a Notice of Hearing, both in the form provided by the County Auditor's office. The Initial Resolution and Notice shall have a heating date which has been provided to the applicant by the County Auditor's office. 11. The applicant understands that the issuance fee for a new MIDA bond issue is equal to 1% of the first $1,000,000 of the Bond issue and that there is no fee beyond the first $1,000,000. For refunding bond issues the issuance fee is one-half of the amount set forth above. Dated: March~ 2002. //~ ~//~~/ By: Its: Executive' DlYt~or