Posted: April 21, 2020
Rapid City
Agenda Item Summary

Agenda Item Ref. #: LF042920 01

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

Origination Group:
Legal & Finance Committee
City Council Hearing Date:
epiq Journey Enterprises LLC
Staff Contact:
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):

Funding Cost Center
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.

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