Just saying that government money is never what it's cracked up to be.
I've never taken a single dime (loan, grant, tax, assessment, etc) and
probably never will, with any of my companies. It's just not worth all
the extra work and headaches. If you have a sound business plan and
operation, just borrow the money and get it done.
There are all kinds of ways to be creative when it comes to funding.
Leasing equipment, 60 day term credit cards, lines of credit (secured
with assets of the business), or even home equity loans (4.25% right
now, with interest only payments), etc.
Travis
On 8/11/2016 10:52 AM, Sterling Jacobson wrote:
Definitely.
Travis, are you just generally saying the money comes with strings attached, or
do you have actual specific experience with Special Assessment in this manner?
-----Original Message-----
From: Af [mailto:af-boun...@afmug.com] On Behalf Of Chuck McCown
Sent: Thursday, August 11, 2016 10:51 AM
To: af@afmug.com
Subject: Re: [AFMUG] Special Assessment
Yeah, good people find themselves in legal trouble all the time when getting
involved with guvmnt money. Less than zero tolerance for even the appearance
of evil.
-----Original Message-----
From: Travis Johnson
Sent: Thursday, August 11, 2016 10:48 AM
To: af@afmug.com
Subject: Re: [AFMUG] Special Assessment
You better build in an additional 100% for overhead costs... I would imagine
you would have to start doing audited tax returns and financials every year.
You will also have to have someone tracking every single expense and what it is
attached to, etc.
Then you will have all the overhead and administrative costs for managing the
paperwork and government related money.
Travis
On 8/11/2016 10:21 AM, Sterling Jacobson wrote:
Has anyone here ever done a special assessment funded project?
I have a couple of examples in Utah/Idaho, but am looking for specific
examples and advice from my provider friends here.
I'm not sure if it's called something else in other states so this is
what I have been told:
You talk to a land developer, get them to partner up with your company
and the city.
They allow a tax or assessment item to be attached to the developed
lot/unit for around 20 years.
Sometime like $150 a year, so $3000 total over the period.
The city council agrees and creates a bond type item for that and your
company gets a check for the total amount times number of properties.
Then you work with the developer to install all of the necessary stuff
for internet, which is fiber in my case.
And the new property owner has your service available from the get go,
maybe with free install, and a $150 a year discount on the service for
20 years.
Anyone done anything like this?
