078 of 2022 - Economic Development Revolving Loan Fund (EDLF) – Core Image Investments, LLC – Club VerseSALT LAKE CITY ORDINANCE
No. _____ of 2022
Ordinance approving a $2 50,000 loan to Core Image Investments, LLC - Club Verse, at 609 S
State Street from the Economic Development Loan Fund)
WHEREAS, Salt Lake City Corporation’s (“City”) Economic Development Loan Fund
EDLF) is a program to stimulate local business development, encourage private investment,
enhance neighborhood vitality, and boost commercial enterprise in Salt Lake City.
WHEREAS, th e EDLF is administered by the Department of Economic Development
DED”) and loan applications are first prescreened by DED staff, and then reviewed by the
EDLF Loan Committee.
WHEREAS, the EDLF Loan Committee and DED staff recommend the approval of the
attached loan term sheet for a $2 50,000 loan to Core Image Investments, LLC - Club Verse, a
local business located at 609 S State Street.
NOW, THEREFORE, be it ordained by the City Council of Salt Lake City, Utah, that:
SECTION 1. Loan Approval. The City Council approves the loan outlined in the Term
Sheet attached hereto, subject to revisions that do not materially affect the rights and obligations
of the City hereunder. The City Council authorizes the Mayor to negotiate and execute the loan
agreement and any other relevant documents consistent with the Term Sheet, and incorporating
such other terms and agreements as recommended by the City Attorney’s office.
SECTION 2. Effective Date. This ordinance shall become effective on the date of its first
publication.
Passed by the City Council of Salt Lake City, Utah, this ______ day of
2022.
78
6th
December
Dan Dugan, Council Chair
ATTEST AND COUNTERSIGN:
CITY RECORDER
Transmitted to Mayor on _________ _
Mayor's Action: ___ Ap proved. ___ Vetoed.
CITY RECORDER
(SEAL)
Bill No. of 2022. ----
Published: ------
APPROVED AS TO FORM
Salt Lake City Attorney's Office
Date: _______________
Sara Montoya, City /(£tomey
MAYOR
78
Dec 12, 2022
Daniel Dugan (Dec 12, 2022 20:06 MST)
Dec 12, 2022
Erin Mendenhall (Dec 13, 2022 09:16 MST)
4
12/14/2022
Ordinance 78 of 2022 Economic Development
Revolving Loan Fund (EDLF) – Core Image
Investments, LLC – Club Verse
Final Audit Report 2022-12-13
Created:2022-12-12
By:Thais Stewart (thais.stewart@slcgov.com)
Status:Signed
Transaction ID:CBJCHBCAABAAGFiKpn_2vkYz8WNekdZ8iU06iUY6-kB9
"Ordinance 78 of 2022 Economic Development Revolving Loan
Fund (EDLF) – Core Image Investments, LLC – Club Verse" Hist
ory
Document created by Thais Stewart (thais.stewart@slcgov.com)
2022-12-12 - 7:53:29 PM GMT
Document emailed to Sara Montoya (sara.montoya@slcgov.com) for signature
2022-12-12 - 7:57:56 PM GMT
Email viewed by Sara Montoya (sara.montoya@slcgov.com)
2022-12-12 - 9:56:27 PM GMT
Document e-signed by Sara Montoya (sara.montoya@slcgov.com)
Signature Date: 2022-12-12 - 9:56:55 PM GMT - Time Source: server
Document emailed to Daniel Dugan (daniel.dugan@slcgov.com) for signature
2022-12-12 - 9:56:56 PM GMT
Email viewed by Daniel Dugan (daniel.dugan@slcgov.com)
2022-12-13 - 3:06:28 AM GMT
Document e-signed by Daniel Dugan (daniel.dugan@slcgov.com)
Signature Date: 2022-12-13 - 3:06:39 AM GMT - Time Source: server
Document emailed to Erin Mendenhall (erin.mendenhall@slcgov.com) for signature
2022-12-13 - 3:06:40 AM GMT
Email viewed by Erin Mendenhall (erin.mendenhall@slcgov.com)
2022-12-13 - 3:27:43 AM GMT
Document e-signed by Erin Mendenhall (erin.mendenhall@slcgov.com)
Signature Date: 2022-12-13 - 4:16:54 PM GMT - Time Source: server
Document emailed to Cindy Trishman (cindy.trishman@slcgov.com) for signature
2022-12-13 - 4:16:55 PM GMT
Document e-signed by Cindy Trishman (cindy.trishman@slcgov.com)
Signature Date: 2022-12-13 - 8:21:30 PM GMT - Time Source: server
Agreement completed.
2022-12-13 - 8:21:30 PM GMT