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December 23,2002 <br /> <br />Mr. Don H. Williams, <br />Assistant District Director <br />Rural Development <br />1809 Fcrguson Rd., Suite E <br />Mount Pleasant, Texas 75456-1328 <br /> <br />Dear Don: <br /> <br />Subject: City of Paris RLF: Fulbright Project <br /> Request for Funding <br /> <br />The City of Pails has processed an application from Charles Fulbright, a local resident for <br />over 50 years. The purpose of this loan would be to provide $100,000, (50°4) of the amount <br />needed to construct a 1,240 square foot frame building on slab with a 20 space parking lot in <br />order to provide a full-service bar-b-q restaurant. There would be a total of 7 jobs created. <br /> <br />First Federal Community Bank will loan 25%, and the owner will provide 25%. The Citys' loan <br />will be made within the parameters set out in the approved Revolving Loan Fund Program. The ' <br />note will be secured by a second lien on the real estate, building and improvements. <br /> <br />We hope your office will be able to process this request with minimal delay. And should you <br />require and additional information, please contact my office. <br /> <br />Sincerely: <br /> <br />Michael E. Malone, City Manager <br /> <br />Enclosures <br />c: file <br /> <br /> <br />