Economic Development Commission12/12/12

Larry BendersDirector of Development

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AgendaAgenda• 5 Year ED Plan Status• Fund Status• Metrics Update

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Plan StatusPlan Status• Submitted to Council: 5/31/12• ED Committee Review: 6/25/12• ED Committee Review: 7/23/12• Council Approved: 7/24/12

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5 Year Plan5 Year Plan• 4 Discrete Objectives

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4 Discrete Objectives4 Discrete ObjectivesAction Steps1.Complete roll out of CCWRF’s remaining 6 programs by 12/31/12.2.Review CCWRF’s 5 launched programs and revise as needed (9/30/12).3.Create a DoD Loan Program Dashboard and update quarterly.4.Create/Retain 2,000 Jobs.

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Action Step 1Action Step 11. Complete roll out of EDF’s remaining 6 programs

by 12/31/126. Micro Enterprise7. Next Stage Fund8. Innovation Match9. Small Business Growth10.Incumbent Worker Training11.Accelerated Growth

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CCWRF StructureCCWRF Structure

7Reviewed by Council

Action Step 2Action Step 22. Review CCWRF’s 5 launched programs and revise as needed (9/30/12).

1. Pre-Seed Fund2. Redevelopment and Modernization3. Site Expansion4. Redevelopment Ready5. Large Scale Attraction

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Action 1 and 2 StatusAction 1 and 2 Status• First Five programs reviewed/revised by DOD

• Remaining 6 programs introduced to Council Nov

• Council vote January 8.

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Action Step 3Action Step 33. Create a DoD Loan Program Dashboard and update quarterly

- In Process and updated twice in 2012

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Loan DashboardLoan Dashboard

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Corporate Name/Project Name Company/Borrower Address City Loan Amount Interest

Rate Terms Forgiveness Job Created Job RetainedMB&W Consumer Collections MB&W Consumer Collections 7088 West 130th Middleburg Heights 500,000$ 2% 15 years 0% 75 07209 Pearl Road Associates, LLC Audio Video and Technologies 7204 Pearl Road Middleburg Heights 500,000$ 2% 15 years 0% 33 28Stoneworks Inc. Stoneworks Inc. 5194 Richmond Road Bedford Heights 468,000$ 2% 10 years 0% 10 60Swift Filters Swift Filters Inc. 24040 Forbes Road Oakwood 1,260,000$ 2% 15 years 0% 36 29J&F Transportation 5400 Warner Road, LLC 5400 Warner Road Valley View 202,000$ 2% 15 years 0% 6 21805 East Carson Street CorporationFat Head's Brewing Company 18673 Sheldon Road Middleburg Heights 485,468$ 2% 7 years 0% 18 0Premier Pump Kamac Inc. 4878 Van Epps Road Brooklyn Heights 212,000$ 2% 15 years 0% 10 20SDC University Circle Developer, LLCSDC University Circle Developer, LLC2021 Cornell Drive University Heights 800,000$ 2% 15 years 0% 55 0S&P Data LLC S&P Data Ohio, LLC 1500 West 3rd Street, Suite 130 Cleveland 110,000$ 2% 3 years 0% 100 125Heights Dental Group Heights Dental Group 2278 Lee Road Cleveland Heights 156,000$ 2% 15 years 0% 6 4NSL Analytical Inc. NSL Analytical Inc. 4450 Cranwood Parkway Warrensville Heights 566,312$ 2% 10 years 0% 18 59

OverDrive, Inc. Blue Sky Campus, Inc. 9501 Granger Road Garfield Heights 1,000,000$ 2% 15 years 45% 100 100

7000 Euclid Avenue Hemingway at 7000, LLC 7000 Euclid Avenue Cleveland 500,000$ 0% 6 years 100% 20 0Micelis Phase II Expansion Miceli-Lograsso Development III, LLCBuckeye and East 92nd Street Cleveland 1,000,000$ 4% 15 years 45% 50 130Asia Plaza Asia Plaza Company Payne and East 30th Street Cleveland 500,000$ 4% 10 years 40% 0 400

SS Kemp Expansion 4582 Willow Parkway, LLC 4582 Willow Parkway Cuyahoga Heights 500,000$ 0% 6 years 100% 15 130Mitchell's Ice Cream P & M Ohio City, LLC 1867-1873 West 25th Street Cleveland 50,000$ 0% 8 years 100% 25 0AmTrust Expansion 800 Superior, LLC 800 Superior Avenue Cleveland 3,000,000$ 3% 15 years 0% 750 245Philips Expansion Philips 595 Miner Road Highland Heights 3,000,000$ 0% 8 years 100% 100 799

1,000,000$ 2% 3 years 85%2,000,000$ 4% 3 years 35%

Dike 14 Cleveland-Cuyahoga County Port Authority8701 Lakeshore Boulevard Cleveland 600,000$ NA 1 year 100% 0 0

Warner & Swasey City of Cleveland 5701 Carnegie Avenue Cleveland 1,129,788$ NA 2 years 100% 200 0

Former St. Roberts City of Euclid 23802 Lakeshore Boulevard Euclid 150,000$ NA 2 years 100% 0 0

1850 Superior Avenue Famicos Foundation 1850 Superior Avenue Cleveland 200,000$ NA 1 year 100% 0 9Former Midland Steel City of Cleveland 11000 Madison Avenue Cleveland 200,000$ NA 1 year 100% 300 0

Richard E. Sering Center Lutheran Metropolitan Ministries4400 Superior Avenue Cleveland 166,851$ NA 1 year 100% 0 192

Gordon Square Arcade Detroit Shoreway Community Development Organization6500 Detroit Avenue Cleveland 77,642$ NA 1 year 100% 20 28

Administration Building Notre Dame College South Green Road South Euclid 101,813$ NA 1 year 100% 20 200

Viking Hall Demo Cleveland State University Euclid and East 22nd Street Cleveland 2,000,000$ NA 3 years 100% 50 0

Lincoln Electric Expansion Lincoln Electric 22801 St. Clair Avenue Euclid 100 1900

Action Step 4Action Step 44. Create/Retain 2,000 Jobs by 6/1/13

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DoD DoD DirectDirect Results Results

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# Deals

Loan$MM

Jobs Created

Jobs Retained

Jobs Total

2010 27 $6.2 173 1254 1427

2011 18 $5.0 326 628 954

2012 (YTD) 23 $18.8 1794 3903 5697

Since 2010:

•DoD has -20% fewer FTEs•+3x deal size•+10x Job Creation•+ 4x Jobs Created + Retained

SummarySummary

• Plan YR II submitted on time per Charter• 4 Action items on track• Job Creation @ +10x 2010

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Economic Development Commission12/12/12

Larry BendersDirector of Development

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