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Trap Fusion
ID: ED20190301
Inner City Economic Development Loan
County Comission District: 09 | City Council District: 03 08
Inner City Economic Development Loan
County Comission District: 09 | City Council District: 03 08
Summary
Jason Gardner dba Trap Fusion LLC was awarded a $14,500 Inner City Economic Development (ICED) Loan to help complete buildout of interior renovations and improve the visibility and appearance of the exterior at 4637 Boeingshire. Total project costs eligible for the ICED program are estimated to be $21,750.Trap Fusion is to be a new take on southern cuisine. Traditional southern dishes will be prepared with healthy, alternative ingredients. The target customer is the health-conscious diner looking for savory food in a friendly atmosphere.
The loan will help Mr. Gardner restore the 1,806 square foot space constructed in 1967 by remodeling the kitchen and bathroom, updating plumbing and electrical, reconditioning the vent-a-hood, resurfacing countertops, painting, and installing exterior signage. This project is supported by The Greater Whitehaven Economic Redevelopment Corporation.
Loan Term:
3
Interest Rate:
Not applicable
Projected New Jobs:
6
Projected Retained Jobs:
Not applicable
Average Payroll:
Not applicable
Loan Amount:
$14,500
Loan Use:
interior renovations and facade appearance
Total Projected Capital Investment:
$21,750
Real Property:
Not applicable
Acquisition:
Not applicable
Construction:
Not applicable
Renovation:
Not applicable
Machinery & Equipment:
Not applicable
Furniture, Fixtures, Office:
Not applicable
Equipment:
Not applicable
Fees & Soft Costs:
Not applicable
Permanent Working Capital:
Not applicable
Miscellaneous:
Not applicable
Approved
3/6/2019
Closing
Not applicable
Trap Fusion
4637 Boeingshire , Memphis, TN 38116- Term Sheet
- Application
- Resolution