Challenge loan program.

05LSO-0136.C1

                                                         

FISCAL NOTE

 

	FY 2006	FY 2007	FY 2008
NON-ADMINISTRATIVE IMPACT
Anticipated Revenue Increase:
ECONOMIC DEVELOPMENT ACCT	31,820	95,459	159,098

 

Source of revenue increase: Estimated principal and interest payments from amounts loaned under the guarantee loan participation program.

 

Assumptions:

 

1. One (1) guarantee loan participation per year. Each loan in the maximum amount ($500,000), ten (10) year term, principal and interest due in monthly installments of $5,303.
2. Loans made mid-year (January 1)
3. 5 percent interest rate

 

 

	FY 2006	FY 2007	FY 2008
NON-ADMINISTRATIVE IMPACT
Anticipated Expenditure Increase:
ECONOMIC DEVELOPMENT ACCT	500,000	500,000	500,000

 

Source of expenditure increase: Estimated loans made under the guarantee loan participation program.

 

Assumptions:

 

1. One (1) guarantee loan participation per year, with each loan in the maximum amount ($500,000).

 

 

 

 

 

 

 

 

Prepared by:   Diane Mosher, WBC  Phone:   777-2848