EDC_HRLDC packet1

EDC/HRLDC 2012 Business Plan Competition

Application Packet

Submission Deadline:

5:00 PM - July 31, 2012

To Submit Application Electronically: Attn: John Wheatley, Vice President, EDC Warren County

[email protected]

EDC/HRLDC 234 Glen Street

Glens Falls, New York 12801 518-761-6007

www.edcwc.org

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EDC Warren County and Hudson River Local Development Corporation Open For Business (Plans!) Site Competition

May, 2012

Packet One Contents:

• Competition Plan Description

• Site Competition Selection Committee

• Business Plan Competition Application Form

• Exhibit A ‐ Recommended Submission Format

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May, 2012 Open For Business (Plans!) Site Competition EDC Warren County in conjunction with Hudson River Local Development Corporation is pleased to announce a business plan competition designed to encourage development and provide employment opportunities for the region. The Grand Prize winner will receive a fully approved shovel‐ready lot in the Queensbury Business Park in the Town of Queensbury, Warren County NY at no land cost. Business plans will be reviewed and ranked by a committee comprised of representatives from the business and economic development community in Warren County. The competition is open to all non‐retail businesses willing to locate and develop facilities on the awarded lot at the Queensbury Business Park. Applications for the competition will be available May 4,2012. Deadline for submission is close of business, July 31, 2012. The award will be announced September 30, 2012. To download the application packet, visit the EDC Website at www.edcwc.org; or email John Wheatley at EDC Warren County to receive the applicant packet at: [email protected]. Grand Prize: Fully approved and shovel ready 3.8 acre lot in Queensbury Business Park at no land cost* Total value (estimated at approximately $200,000 to $250,000) includes cost of purchasing 3.8 acres of commercial/light industrial land with full site approvals. Site includes access to all utilities in a new business park setting. * Subject to transfer fee of $20,000 total; $5,000 due at time of award

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Preferred/Eligible Applicants: Non‐retail business meeting the following conditions are encourage to apply:

• Manufacturers with or without logistics attached.

• Back office or Shared Services Center operations; Technical Support/Operations center

• Warehouse/distribution center operations; especially those which supporting existing manufacturing operations in Warren or Washington counties

• Developers who have a tenant who meets the above qualifications, and have a minimum five‐year lease commitment with said tenant

• Businesses already having a presence in either Warren or Washington County which, for business reasons, must relocate operations, are encouraged to apply provided they are manufacturers, back office/shared services centers, technical support centers, or warehouse, distribution center operators. These applicants will be required to provide a detailed business case for relocating from their existing place of operation to the Queensbury Business Park.

• Able to break ground within 12 months of award

• Create/retain a minimum of 10 full time equivalent jobs on site

• Minimum 5 year job level commitment after occupancy

• Site approved to accept a maximum 25,000 SF building

• Use consistent with existing zoning requirements (Commercial/Light Industrial) in the Town of Queensbury and park covenants

• Able to secure bank commitment within 90 days of award –( a Letter of Interest From the applicant’s financial institution should be included with the application).

• Able to submit engineered plans within 60 days of award

• Able to provide $5,000 down payment of a $20,000 total transaction fee at time of award Process: Interested parties will submit CONFIDENTIAL applications to the Open For Business Selection Committee by 5:00 pm EST on July 31, 2012. Final grand prize award will be announced September 30,2012. The award will be based upon, but not limited, to the following factors:

• Business plan quality

• Financial projection creditability

• Total new capital investment amount

• Jobs created/retained

• Potential for future growth

• Management team experience and capability Business Plan Selection Committee Process: The Queensbury Business Park is controlled by the Hudson River Local Development Corporation. The HRLDC will receive recommendations for the grand prize from the Open for Business Selection Committee. The Selection Committee is comprised of business and economic development

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representatives from the City of Glens Falls, the Town of Queensbury, Warren County, the Adirondack Regional Chamber of Commerce, the EDC Warren County, and the Warren County Local Development Corporation. EDC Warren County, Hudson River Local Development Corporation and the Open For Business Selection Committee reserve the right to accept or reject any and all offers subject to established criteria, and make no representation or warranties either express or implied. Site Specifics:

• Lot 4 is comprised of a total of 3.8 acres

• Lot 4 is Zoned CLI/Commercial Light Industrial and has Town of Queensbury approval for construction of up to 25,000 s.f. facility. (see below for zoning language)

• Utilities: Municipal water, sewer, natural gas, electric, telecom (fiber and copper) Park Notes: Lot 4’s address is 33 Stone Quarry Road, Queensbury NY 12804. The Queensbury Business Park (QBP) is located along Queensbury Avenue approximately 1.5 miles north and east of the intersection of Route 254 (Quaker Road) and Route 32 (Dix Avenue). The QBP is a 41 acre commercial light industrial park developed by HRLDC with park covenants in place. Queensbury Business Park is a NYS Certified Shovel Ready site with park road and fully built infrastructure. The site adjoins a National Grid substation and is divided by a 115 KVA transmission line. Additional information including site plan, park covenants and brochure are available on line at www.edcwc.org; or contact John Wheatley: [email protected]. Zoning : 33 Stone Quarry Road (Lot 4) of Queensbury Business Park is within a CLI Commercial Light Industrial zone in the Town of Queensbury. Town of Queensbury Zoning Code Defines Light Industrial Use as: LIGHT MANUFACTURING ‐ Any operation which assembles, improves, treats, compounds, or packages goods or materials in a manner which does not create a noticeable amount of noise, dust, odor, smoke, glare or vibration outside of the building in which the activity takes place.

Desired businesses that are permitted in the Town of Queensbury’s Commercial Light Industrial zone with Site Plan Review (SPR) include:

• Business and Professional Services (non‐retail)

• Construction Company

• Light Manufacturing

• Office

• Research and Development

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May, 2012 Open For Business (Plans!) Site Competition Selection Committee:

• Charles Barton ‐ Barton Group

• Jack Bieniek ‐ Cool Insurance

• Tim Lasarso ‐ NBT Bank

• Elizabeth Miller ‐ Miller Mechanical

• Harold "Bud" Taylor ‐ Warren Washington Counties IDA

• Mark Westcott ‐ At Large County Supervisor ‐ Warren County Board of

Supervisors

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EDC/HRLDC

BUSINESS PLAN COMPETITON APPLICATION

234 Glen Street Glens Falls, NY 12801

Tel: (518)761-6007 Fax (518)761-9053 www.edcwc.org

I. APPLICANT INFORMATION Name of Company ____________________________________ [ ] Corporation Year Established _____ Address ____________________________________ [ ] Partnership Year ______ ____________________________________ [ ] Sole Proprietorship Year ______ NAICS # _____________________________________ Contact Person ________________________________________ Title ________________________ Telephone ___________________________ FAX _____________________________ Federal ID # ___________________________ Email ________________________________ Web address ____________________________ Nature of business ______________________________________________________________________ OWNERSHIP COMPANY OFFICERS, OWNERS, PRINCIPALS Name Position % Ownership Social Security # _______________________________________________________________________________________ _____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ Current # Employees ___________________ # Employees after this facility opens __________________________ Over what time frame will new employees be hired? _____________________________________________ Management profiles must be completed for every owner of 20% and for any key employees AFFILIATE COMPANIES Does the company or any of the individuals listed above have any ownership in or in control of any other company? If yes, please list below. ____________________________________________________________________________________________ ____________________________________________________________________________________________ ____________________________________________________________________________________________ ____________________________________________________________________________________________ ____________________________________________________________________________________________ ____________________________________________________________________________________________

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ADVISORS Company Attorney ______________________________Telephone________________________________ Company Accountant _____________________________Telephone ________________________________ Company Bank /Banker’s Name ____________________ Telephone _______________________________ Yes No 1. Is the Company delinquent on any of its federal/state/local tax obligations? ______ ______ 2. Is the Company delinquent in the payment of any loans? ______ ______ 3. Are any of the owners listed above delinquent on any federal/state/local tax obligations? ______ ______ 4. Has the Company been declared in default on any of its loans? ______ ______ 5. Has the Company ever filed for bankruptcy? ______ ______ 6. Have any of the Company’s officers, owners, or principals ever personally filed for bankruptcy or in any way sought protection from creditors? ______ ______ 7. Are there currently any unsatisfied judgments against the Company? ______ ______ 8. Are there currently any unsatisfied judgments against any of the Company’s Officers, Owners or Principals? ______ ______ PLEASE EXPLAIN ANY YES RESPONSES:

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II. SOURCES AND USES OF FUNDS

Applicant Cash

Bank* Other Public

Other Private

Other

TOTALS

$ $ Please name grant or loan

Loan/ Gift

Please Identify Grant/Loan/ Gift

New Construction

Machinery

Equipment

Working Capital

Purchase Inventory

Acquisition of all/part of existing business

Closing Costs

Other

TOTALS

• If any bank has indicated a willingness to finance some portion of the above, please indicate name of bank and amount they have agreed to fund.

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III. BUSINESS DEBT SCHEDULE

Company Name_____________________________________________________________ Please list all existing Business Notes payable only, include lines of credit, business credit cards, mortgages, installment debts and capitalized leases.

Lender Name Original Amount

Balance Interest Rate

Maturity Monthly Payment

Collateral (A)

Status (B)

Type (C)

TOTAL

Use abbreviations for collateral – “A/R” for accounts receivable, “Inv.” For inventory, “Equip” for furniture, machinery or equipment, “R/E” for real estate. “Other” for all other collateral (B) Status is “C” for current payments or “D” for delinquent payments. (C) Use abbreviations for the type of note payable – “LOC” line-of-credit, “CC” credit card, “Mtge” mortgage

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IV. MANAGEMENT PROFILE

Please complete a separate Management Profile for all owners of 20% or greater and for any key employees.

Name: Residence Address: City State Zip Code Home Phone Date of Birth County Social Security # Citizen? Y/N Resident Alien # Picture ID Type: Picture ID #:

Have you ever been convicted of any criminal offense other than a motor vehicle traffic violation? Y/N If Yes, provide details on a separate sheet of paper.

EDUCATION College School Names Dates Attended Degree Attained or Certificates

WORK EXPERIENCE Company Name Dates Position Held Comment on Duties Military Service Other Accomplishment Abilities Applicant Certification Authorization In connection with this application and any update, extension or modification, the undersigned authorizes the EDC/HRLDC to make all inquiries it deems necessary to verify the accuracy of the information provided herein and to determine creditworthiness including, without limitation, obtaining consumer and/or business credit reports regarding the applicant or any entity that they may be affiliated. I certify that I am not delinquent under the terms of any (a) administrative order, (b) court order, or (c) repayment agreement requiring payment of child support. I certify that I have never caused the government a loss as a result of a prior borrowing relationship where a direct business or personal loan, a loan in which I was a guarantor or a loan to a business in which I had an ownership interest. Loans include but are not limited to student loans, government guaranteed residential mortgages and business loans, both direct or government guaranteed The undersigned hereby certifies that the enclosed application information, including all attachments, is true, accurate and complete as of the date of this application. Applicant Signature: ____________________________ Date: ____________________

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V. REQUIRED EXHIBITS/CHECK LIST FOR SUBMISSION Please return the entire Application using the following checklist. Please complete each section and attach all appropriate documentation. Incomplete applications can not be processed. Exhibit A - Company Background/Business Plan

• A brief narrative describing the company’s history • A description of the company’s current operations including products, markets, etc. • Trade references, primary customer listing, and banking relationships • A description of the company’s current operating facilities, both owned and leased • A summary of the company’s current full and part-time employment • A description of the company’s need to undertake the proposed project • Projected new employment for the next three years • Projected changes in property tax revenues resulting from the project • Summary of proposed financing, including status of other loan applications, sources of

equity capital, commitment letters, etc. as shown in Part II of this application • Projected balance sheet and income statement for three years following completion of the

project, and projected monthly cash flows for at least the first year following completion of the project

• Financial statements for each company and/or individual who will act as a guarantor • Last three years tax returns for borrower and related companies (accountant prepared

statement if available (completion of 4506-T if applicable). VI. DECLARATIONS I (we) authorize the EDC/HRLDC to order credit reports and/or other financial information on my (our) personal and business background. I (we) authorize disclosure of all information submitted in connection with this application to any financial institution in consideration of any assistance that may be provided. I (we) waive all claims against the EDC/HRLDC and its consultants. I (we) attest that to the best of my (our) knowledge, information, and belief, the information contained in the foregoing application is correct and true. I (we) am (are) aware that the filing of a false instrument in connection with this application may constitute an attempt to defraud the EDC/HRLDC and may be a felony under the laws of the State of New York. If the Applicant is a sole proprietorship or if the Applicant is a corporation, sign below: partnership, sign below -------------------------------------------------------------------------------------------- ----------------------------------------------------------------- Signature Date Name of Corporation ------------------------------------------------------------------------------------------- ------------------------------------------------------------------ Printed Name and Title Authorized Signature Date

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------------------------------------------------------------------------------------------ ------------------------------------------------------------------ Signature Date Printed Name and Title ------------------------------------------------------------------------------------------ Printed Name and Title STATE OF NEW YORK ) ) ss.: COUNTY OF WARREN) On this day of , 20 , before me personally came , to me known, who, being by me duly sworn, did dispose and say that deponent resides at , that deponent is the of , the company described in the foregoing application and which executed the foregoing instrument; that deponent had the authority to execute same by order of the Board of Directors or other authority of said company; and that deponent signed deponent=s name thereto by like order. ----------------------------------- Notary Public STATE OF NEW YORK ) ) ss.: COUNTY OF WARREN) On this day of , 20 , before me personally came , to me known, and known to me to be the individual described in and who executed the foregoing application and s/he thereupon duly acknowledged to me that s/he executed the same. ------------------------------------ Notary Public

EXHIBIT A

Recommended Business Plan Submission Format:

*To be submitted in electronic form with application

1. History of Business • Date established, ownership • Description of Products/Services (include brochures, catalogs, etc. • Customers - Markets - Geographic Territory - Competition • Marketing plan - How is your product different for the competition? • Description of present facilities, rent/own, lease terms • List of major suppliers and relationship • Seasonality of business • Government or other regulatory agencies that affect or oversee the business

2. Management

• Names of owners, percentage ownership, extent of involvement with the company, duties in the company, past employment, educational background

• Number of employees with identification of key personnel and functions 3. Financial Needs

• Describe your project to be financed - your equity injection and source of those funds • List benefits derived from the project

4. Financial Information

• Financial information should include all the information listed on the WCLDC Loan Application Checklist

1. The written portion of the plan should summarize the reason for the company

growth; discuss pricing changes and significant changes in any operating expenses.

2. Summarize management's future plans - Describe how you will accomplish your financial goals.

Selected finalists will be asked to deliver 10 bound hard copies of their business plan to EDC 5 days prior to meeting with Selection Committee.

EDC_HRLDC packet1

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