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I <br />'1 <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />COMMUNITY DEVELOPMENT BLOCK GRANT 1983 <br /> <br />Racetrack <br /> <br />Ways in which CDBG funds could be utilized in promotion of the <br />racetrack: <br /> <br /> 1. Land acquisition and write-down <br /> <br /> 2. Site improvements <br /> <br /> 3. Extension of public utilities/streets <br /> <br /> 4. Preliminary planning.costs <br /> <br /> 5. Pay for Environmental Impact Study <br /> <br /> 6. Administrative costs (approximately 10% for administer- <br /> ing grant) <br /> <br /> 7. Loan to developers for working capital <br /> a. Start-up cost - <br /> <br /> b. Relocation cost <br /> 8. Technical assistance <br /> <br /> 9. Interest by down, i.e., by down points on financing <br /> <br /> 10. Underwrite costs for bonding, i.e., induStrial develop- <br /> ment bonds <br /> <br /> 11. Use the Local Development Corporation as a conduit for <br /> loans <br /> <br /> a. Loan business interest free money, then they would <br /> pay back money on, say, an 8 to t0 year basis <br /> <br /> <br />