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Show iiij A4-Th- e Times-lndependen- UPDATE Part 3 For more information: Dixie Barksdale, Southeastern Utah Association of Local Governments, 5 259-228- Financing Southeastern Utah Entrepreneurs The third in a series with financial and other continuing dealing business assistance to private entrepreneurs in the southeastern section of Utah addresses developer project and technology finance. Information for the series is compiled by the Southeastern Utah Association of Local Governments and Utah Small Cities, Inc. Future articles will deal with business incubation, training, business development centers and cooperative extention sendees. Enterprise Capital Fund Making Loans to Overcome Limitations on Industrial Bonds Tax-Exem- pt A $100 million capital pool, created in 1986 by American Development Finance (ADF) to help overcome the limitations on industrial bonds, is accepting loan applications through a program called the Enterprise Capital Fund (ECF). it ADF is a y' corporation established for the purpose of new providing financing options for economic development projects. The finance program is a sister organization of the National Association of States Development Agencies (NASDA). A wide range of loans are being made to piublic purpose projects over $700,000 that are approved by local, county or state development agencies. According to ADF President Miles Friedman, ADF raises money through a relatively inexpensive vehicle, the short-tercommercial paper market, that it can than lend to developers and businesses at favorable rates. Friedman said the projects must involve fixed-assfinancing and be backed by abank letter of credit (or other suitable enhancement). Shcarson Lehman Hutton serves as Financial Advisor and Commercial Trader Paper to ADF; Paris-hase- d Bank Indosuez provides the master letter of credit for ADF issues. Local or state development authorities are asked to certify that applicant projects have favorable economic development impact. Friedman said the bottom line cost to borrowers is generally slightly over prime rate. The fund can be used for new construction; renovation; acquisition of land, equipment and facilities; and interim or permanent financing. Project Administration is through First Continental Financial Corporation, Phil Sehcps, j ADF has been holding a series of workshops around the country to explain the program. The fund will finance loans directly and can purchase development agency taxable issues allowing agencies to create their own nfsnipools. r" American Development Finance is located at Suite 611, 444 North Capitol St., N.W., Washington, DC 20001. pt non-prof- m et Venture Capital in Utah: A Growing Concern the financial refers When to venture capital, the term community generally means "risk" capital or investment capital. Whatever the term, the established programs in Utah are geared to financing new innovative ideas. In 1983, the Utah State Legislature established the Utah Technology Finance Corporation (UTFC) to provide funding and support for Utah entrepreneurs. It was initially funded at slightly more than $2 million and authorized to provide up to $50,000 in grants to pursue the development of an idea. s. The first private venture capital fund Utah Ventures was created in 1986. Another private fund called Eagleplace Partners emerged in 1987. At present, these two private venture capital funds manage about $4.5 million. Venture Seed Capital Utah Technology Finance The most active venture capital program in Utah is operated by the Utah Technology Finance Corporation, created by the Utah State Legislature to provide early stage financing for companies or individuals with innovative products which have commercial value. A counterpart to the federal Small Business Innovative Research Program (SBIR), Utah's Small Business Innovation Program makes $30,000 to $50,000 available to businesses that will benefit Utah. UTFC makes grants available to small businesses for use as "seed capital" to technology projects which show commercial merit. Funding up to $50,000 is given to successful applicants for technology-base- d "proof of concept" wtf k. UTFC provides the money that would demonstrate the effectiveness of a pitfduct; the business can then take its project to investors. SBIP funding can be used for research, prototyping, testing, or refinement, including direct expenses and overhead. Bob Brewer, UATFC says, "It's not truly a grant; the program operated like a forgiveable loan." UTFC expects a royalty payback of 3 percent on gross sales which result from the project, thus making further funding available for future projects. H "This way it establishes the merit of what the business is going without having to provide such collateral as home or car," Brewer added. The program is competitive. UTFC looks for the best technology statewide. Not all projects are on the Wasatch Front or of high technology. An Escalante company. Mountain States Resources, was recently successful as the first natural resource-typ- e proposal accepted for funding in rural Garfield County. Brewer said the proposals are accepted The next offer28 has with a March the scheduled to end July 18. deadline next round ing the SoutheastMoab are office of available the Proposal applications through ern; Utah Association of Local Governments, P. O. Box 484, Moab, Utah 8432, (801) 259-228semi-annuall- y. 5. UTFC Participating Loan Fund The UTFC has expanded its role in helping the Utah entrepreneur, by organizing a participating loan program with the area's largest commercial banks to provide additional funding for firms. Under this loan program, UTFC invests 30 percent of the loan amount Up to $100,000 along with a participating bank to small high tech firms. This funding would usually be used for production, marketing and sales of a new product In addition to funding, UTFC helps the new entrepreneur through a other business functions such as marketing, licensing, staffing, of myriad management, finance and technical assistance. UTFC Partnership With Local Economic Development UTFC also administers the Utah Partnership Fund. Under this proUTFC will participate with private or public economic development gram, entities by providing $50,000 or 40 percent of a Local Innovation Fund (LIF). The entity provides the remaining 60 percent of a LIF total of $125,000. The San Juan CountyCollege of Eastern Utah participates in the LIF partnership programs. For more information contact the Utah Technology Finance Corporation, 419 Wakara Way, Suite 215, Salt Lake City, Utah 84108, (801) s 2 i gig- Thursday, March 16, 1989 t, Business 583-883- m, or (801) 531-634- Green River students in Close Up program The Close Up Foundation, the nation's largest government studies program, has once again invited Green River High School to participate in a weeklong scries of seminars in Washington D.C. Green River students will participate with several hundred other students and teachers from the Utah area during the week of April 23-2- FIRST GRANDDAUGHTER Mr. and Mrs. Fletcher Kerby are proud to announce the arrival of their first granddaughter, after four grandsons. Kari Erica Kim was born to Kelly and Paula Kerby, on March 10, in Elko, Nevada. She weighed 6 2 inches lbs., 15 oz., and was long. Kim will be joined at home by her brothers, Robert and Austin. 18-1- FINAL STANDINGS The final volleyball standings for the women's volleyball league follow: A Bracket 1st place, UP&L; 2nd place, La Sal Oil; 3rd place. Sun Country. B Bracket 1st place, B & W Construction; 2nd place. All American Agency; 3rd place, Grand Valley Oxygen & Supply. Sports- company accepted could be between $100,000 and $500,000. Industries Attractive to Venture Capitalists venture of the "hot industries that Some capitalists as a group are inin are: now terested Data Communications, Computer Software and Peripherals, Health Care Delivery and Projects, The Office of the Future, and Robotics, and the to went awards manship TransAmerica in A Bracket and La Sal Livestock in B Bracket. Sponsors report that two watches were found at the matches, and information about them can be obtained by 259-875- 6. - Notice To Bid The Grand County Commission is accepting bids for providing s and pumping same for the Grand County Lions Park. Bids will be opened Man, Myth, and photographs Beta Zeta held their March business meeting at the home of Carol Ekker in Green River on March 6 with seven members present. It was decided that the chapter would sponsor a Little League team, and a girl for Girls State again this year. They will also be running a concession at the Horse Pulls on May 13. The St. n will also be held Judes on May 13. The group is planning a yard and bake sale on May 6 in the Melon Vine parking lot. On March 18, several members will be traveling to Salt Lake City to attend the State Council meeting. Judy Ann Scott gave two educationals on the birthstones of March and June, the aquamarine and the pearl. It was very interesting. Delicious refreshments were served by Judy. The March social, Mar. 20, will be held at the home of Melanie Thompson. Congress explain the legislative branch and current issues," Hughes said. "In addition, members of the Close Up staff work with the students from early morning to late at night." The students will participate in several workshops in which they may share their views. In addition, time will be allowed for a tour of the city and for such social activities as a live theater performance and a final banquet and dance. Mr. Hughes will participate in a teacher program designed to give him new insight into the actual working of government, which can be carried back to the classroom once the week is completed. The Green River students and Mr. Hughes may also participate in a Martyr?" will be the topic of a public forum to be presented Saturday, March 18, in Blanding at the Edge of the Cedars Museum. A display of over 1,000 historic BUSINESS MEETING newspapers collected by Steve as well as other Lacy, memorabilia, will be open to the public at 6 p.m. The program will begin at 7 p.m. with a short documentary film about Posey followed by a panel presentation moderated by Stan Bronson. Panelists include Meyers and Chester Cantsee, Ervin Guymon, Tonya Morris, Allen Black, Anna Nat and Bob bike-a-tho- McPherson. Each panelist will share information they know about Posey and the uprising of 1923. After the presentation the will audience the have opportunity to ask questions and share information. The program is sponsored by Blue Mountain Shadows, the San Juan Historical Commission, and is funded in part by the Utah Endowment for the Humanities. The new issue of Blue Mountain Shadows should be back from the printers soon, a nd will also include articles about Posey the Ute Indian. Which Way Are You Traveling ? of life above the "The is to In Proverbs 15:24 we read, wise, that way he may depart from hell beneath. There are two ways: One is the way of life,, and the other is the way of death. There are only two ways. These ways lead to different places: One leads to Heaven and the other to hell. The wise person sees to it that he is traveling on "the way of life." j The "way of life" is the Lord Jesus Christ. Have you received Christ; as your personal Saviour? Pastor David Halcomb Moab Baptist Church Porta-toilet- March 27, 1989 at 10:30 a.m. in the Council Chambers of the Courthouse. Bids may be submitted to the County Clerk prior to the opening. Grand County Commission reserves the right to reject any and all bids. Witness my hand and seal this 14th day of March, 1989. sFran Townsend ClerkAuditor Published in The Moab, Utah, March 16, 23, 1989. HOW TO GET A SMART DEAL ON A GOOD HOME SPECIAL INCENTIVES , Take advantage of the following incentives: $500 Downpayment to owner occupants on FHA insured properties. Times-lndepende- CITY OF MOAB PUBLIC HEARING MARCH 81, 1989 Moab City Council will hold a Public Hearing at the Regular City Council Meeting on Tuesday, March 21st, at 8:00 p.m. The meeting will be held in the Council Chambers of the Grand County Courthouse at 125 East Center Street, Moab, Utah. The purpose of this hearing will be to hear public input on the zone change recommendation by the Moab City Planning Commission in the Powerhouse Lane area. t, Published in The Moab, Utah, March 9 and 16, 1989. Too Late To Classify 5 Downpayment to investors on FHA insured properties. Paint Allowance on select homes. O ' Carpet Allowance on select homes. N J V,- -, l Vi? v CarpetPaint Allowance on select homes. (' K Bonus allowance for AS Christensen, grandson of Mr. and Mrs. Wayne Norton, would like to invite you to my Eagle Scout Court of Honor on Sunday, March 19, 1989 at 6 p.m. at the 4th W. Chapel LDS Church. Hope you can come for the program and stay for refreshments. Joe "Seppe" 11-LOST---B!ac- and k closing. l. HUD office. a r Updated sales information may be obtained on a daily basis by calling 524-561- 5. youre looking for a new home for you and your family, or just looking for a great WhetherHUD has a smart deal for you. So if you havent taken a look at a HUD Home lately, nows the time. And buying a HUD Home is easy. Just contact any real estate broker. Buyers must obtain their own financing and may utilize cash, conventional or VA financing on these homes. Homes eligible for FHA insurance are designated in the appropriate column as YES. Homes are subject to prior sale. Each home is sold as is with no repairs. They may contain code violations (No warranty). NOTICE: $500 EFFECTIVE IMMEDIATELY DOWNPAYMENT FOR 0WNER0CCUPANT DOWNPAYMENT FOR INVESTORS 5 To qualify for this sales program, the net amount of your bid (line 7) must be 91 or more of the listing price (insured properties only). HUD will also entertain bids utilizing the normal downpayment for HUD owned properties with a net of less than 91 of the listing price. EXTENDED LISTINGS 1t grey Australian Shepard somewhere near Plateau Road by Sportsman. Any information call Ron Griffith days, evenings early For details information , contact your local To Friends and RelatiDavid Joseph ves--!, Bids Accepted Until 3:00 PM Daily, Opened At 3:15 PM Daily ADDRESS CASE PRICE FHA DESCRIPTION Moab: 270 259-822- 9 . . $39,000 .. YES. 755 Hillside Dr . . 1196 Sq.Ft., 3 Bdrm., 1.75 Bath, 2 259-514- ,. 343 11-1- tp FOR RENT-Lar- ge 2 bedroom modular home 2 patios-carpor- t, fenced yard. Appl- iances adults. furnished-prefe- r 259-867- 11-1- tp 8. Eagleplace Partners Eagleplace Partners is a relatively new venture fund in Utah. The former consulting firm to high tech companies has recently raised an $800,000 investment fund. The company has not yet engaged in venture financing, but will be investing in high growth companies at an early stage. Eagleplace Partners' investment strategy closely parallels that of the national definition for early stage financing. Company officials say typical financing for each Posey forum planned at Edge of Cedars or "Posey: Hughes. national television program produced by Close Up and telecast over the cable network. The programs, divided into several series, are designed for use in high school classrooms and in the' home and are funded with grants from the DuPont Company and RJR Nabisco, Inc. dents with the federal system of government. Since then, more than 250,000 participants from across the country have taken part in the program. "Close Up takes students out of the traditional classroom and places them in the classroom of Washington, D.C., where lobbyists teach them about lobbying, journalists cover the media, and members of 9. The GRHS students who will be participating in this program are: Doralie Nelson, daughter of Bruce and Dorothy Nelson and Tommy Hughes, son of Art and Sharon calling This is the 4th year Green River invited to attend the program, according to Art Hughes, the Close Up teacher at Green River who will accompany the students to the nation's capital. Close Up, a nonprofit nonpartisan educational foundation, was founded in 1970 to acquaint high school stu- has been FOR SALE Walnut Lane Trailer Court Terms SunCountry Realty 234 N. Main Off. 259-632- 6 Home 259-553- 3 $45,000 .. YES. .. 1350 Sq.Ft., 3 Bdrm., 1.75 Bath IJBP Flood Ins Rqd IMPORTANT NOTICE WATCH OUT FOR LEAD PAINT POISONING, For all properties constructed prior to 1978 the lead based paint hazard notice by HUD to the purchaser upon acceptance of the standard retail sales contract. HUD 9548 1 2 side I must obsolete to retail sales the standard continue to be completed and submitted with HUD Form is contract, (Side Appendix This property was constructed prior to 1978 and may contain lead based paint HUD will treat the defective paint surfaces in the LBP by HUD pnor to closing LBP" properties Will require that Exhibit B be completed and submitted with the HUD 9548 Standard Retail Sales Contract and Addendum PANT PURCHASERS ONLY Disabled persons needing accommodations (e g interpreter, Braille or taped materials, reader or note taker, etc please contact HUD at hours before required service are needed will be provided 9548 ) manner prescribed for OWNFR ivm at least 48 NOTICE TO BROKERS -- negotiable Contact Carroll L. Clark Opal Ave " , Sealed Bid must be daily muted Seafed Bi- d- Do He Open with the case number, address, and dak of bid opening on tl outsile the envdope. Bids must be received in the HUD Property Sales Office, Suite 220 at 324 South State Street, Salt Lake City, UT 84111, by the appropriate date and above. time shown - i 8 farm An earnest money deposit of not less than $500 uniat be held and deposited Bids must be submitted on the by the adling broker farm. Should purchaser refuse or otherwise fail to perfann in accordance with this contract, upon submission cf the induling the time limitasole seller sellers' of at or HUD all as to a reserves the deposit the right tion, option, retain portion liquidated damages. may, reject any or all bids. HUD properties are available to all persons, regardless of race, color, religion, sex, marital status, or national origin and Urban Development Property Sales Office Suite 220 at 324 South State Street, Salt Lake City; UT 84111 U.S. Department of Housing j. JT . . 524-524- 2 (T1988 Department 524-522- 1 of Housing 524-521- 6 and Urban Development tSt EQUAL HOUSING OPPORTUNITY ' |