ORGANIZATION: Westside Development Corporation (WDC) - Project Committee
SUMMARY:
William J. Lambert, dba French and Michigan, has requested a loan up to $50,000 for the purpose of leasehold improvements and working capital.
The committee will review the application and provide a recommendation to the Board of Directors.
BACKGROUND INFORMATION:
General
William J. Lambert, dba French and Michigan, is located at the intersection of French and Michigan along the Fredericksburg Corridor. His business provides gallery space, construction of furniture, and residential and business design services.
Mr. Lambert has requested a loan to make leasehold improvements to his existing space and to provide much-needed working capital. The leasehold improvements will include an improved workspace, art storage, and expanded printing services.
ISSUE:
None
ALTERNATIVES:
None
FISCAL IMPACT:
RECOMMENDATION:
Staff recommends approval up to an amount with adequate collateral coverage.
MRH - 150325 - Project - Item 8 Memo