Agenda Item Title:
Authorize Mayor and Finance Officer to Sign Life Safety Loan Agreement Between Epiq Journey Enterprises LLC and the City of Rapid City
Legal & Finance Committee
City Council Hearing Date:
epiq Journey Enterprises LLC
Tim Behlings/Pauline Sumption
2004 Creek Drive
Agenda Item Summary:
Epiq Journey Enterprises LLC has made application for a Life Safety Loan to finance the installation of a fire suppression system in the building at 2004 Creek Drive. The applicant applied for a loan of $38,520, which amount is available in the Life Safety Loan Fund.
Funding Source & Fiscal Impact (if applicable):
|Life Safety Loan Fund, which is funded by SAB 28 Fund|
Origination Recommendation Action:
Origination Recommendation Notes:
Amortization schedule for payments will be added to the Agreement when funds are disbursed. Funds will not be disbursed until a letter of credit acceptable to the City Attorney is received.