Community Development Block Grant Revolving Loan Committee

AGENDA OF THE COMMUNITY DEVELOPMENT BLOCK GRANT REVOLVING LOAN COMMITTEE TUESDAY, AUGUST 26, 2025, 8:00 AM City Hall, Room 604 - The Harry Maier Room. Virtual attendance is also available via Zoom. A. Zoom Meeting Information. 1. Join Zoom Meeting Online: https://us02web.zoom.us/j/87613365927?pwd=ZnLX7C3a9ujHokTCOBK7TzBfCTAbZf.1 Or call in by phone: +1 312 626 6799 Meeting ID: 876 1336 5927 Passcode: 067732 If you wish to speak at this public meeting or leave a comment, please fill out the online Comment Form prior to the meeting. More detailed Zoom Instructions can be found online. B. Roll Call. 1. Members: Chair – Matt Schueller, Vice Chair – Ace Champion, Eli Hicks, Ald. Bill Morgan, Bradley Klingsporn C. Approval of the Agenda. 1. Approval of the agenda for the Tuesday, August 26, 2025, meeting of the Community Development Block Grant Revolving Loan Committee. D. Approval of Minutes. 1. Approval of the minutes from the October 24, 2024, meeting of the Community Development Block Grant Revolving Loan Committee. E. Regular Business. 1. Consideration with possible action on a loan request from Five Thumbs Up, LLC to borrow $27,000 for working capital from Economic Development Revolving Loan Funds (ED RLF). Agenda of the Community Development Block Grant Revolving Loan Committee August 26, 2025 Page 1 F. Informational. 1. Community Development Revolving Loan Fund Status Reports. G. Adjournment. 1. Adjournment of the Tuesday, August 26, 2025, meeting of the Community Development Block Grant Revolving Loan Committee. 1) THIS MEETING IS RECORDED: THE VIDEO OF THIS MEETING AND MINUTES ARE AVAILABLE ONLINE AT www.greenbaywi.gov 2) ACCESSIBILITY: Any person wishing to attend who requires special accommodation because of a disability, should contact the City Safety Manager at 920-448-3125 at least 48 hours before the scheduled meeting time so that arrangements can be made. 3) QUORUM: Please take notice that a majority or quorum of the Common Council will attend this Community Development Block Grant Revolving Loan Committee meeting and will constitute a meeting of the Common Council for purposes of discussion and information gathering relative to this agenda. 4) REPRESENTATION: The party requesting the communication, or their representative, should be present at this meeting. Agenda of the Community Development Block Grant Revolving Loan Committee August 26, 2025 Page 2  Report to the Community Development Block Grant Revolving Loan Committee of the City of Green Bay MEETING DATE PREPARED BY August 26, 2025 AGENDA ITEM # D.1 Approval of the minutes from the October 24, 2024, meeting of the Community Development Block Grant Revolving Loan Committee. BACKGROUND RECOMMENDATION FISCAL IMPACT ATTACHMENTS 1. CDRLF Minutes Public 10.24.2024 100 North Jefferson Street, Green Bay, Wisconsin 54301-5026 greenbaywi.gov MINUTES OF THE COMMUNITY DEVELOPMENT BLOCK GRANT REVOLVING LOAN COMMITTEE THURSDAY, OCTOBER 24, 2024, 9:30 AM City Hall, Room 604 - The Harry Maier Room. Virtual attendance is also available via Zoom. A. ZOOM MEETING INFORMATION. 1. Join Zoom Meeting Online: https://us02web.zoom.us/j/87613365927?pwd=ZnLX7C3a9ujHokTCOBK7TzBfCTAbZf.1 Or call in by phone: +1 312 626 6799 Meeting ID: 876 1336 5927 Passcode: 067732 If you wish to speak at this public meeting or leave a comment, please fill out the online Comment Form prior to the meeting. More detailed Zoom Instructions can be found online. B. ROLL CALL. 1. Members: Chair Matt Schueller, Vice-Chair Ace Champion, Ald. Bill Morgan, Eli Hicks, vacancy Present: Matt Schueller, Ace Champion, Eli Hicks, William Morgan C. APPROVAL OF THE AGENDA. 1. Approval of the agenda for the October 24, 2024, meeting of the Community Development Block Grant Revolving Loan Committee.  Moved by Ald. William Morgan, seconded by Ace Champion to approve the agenda. Motion Passed. Yes-Matt Schueller, Ace Champion, Eli Hicks, William Morgan, No-None, Abstain-None. D. APPROVAL OF MINUTES. 1. Approval of the minutes from the October 10, 2024, meeting of the Community Development Block Grant Revolving Loan Committee. Moved by Ald. William Morgan, seconded by Eli Hicks to approve the minutes. Motion Passed. Yes-Matt Schueller, Ace Champion, Eli Hicks, William Morgan, No-None, Abstain-None. E. REGULAR BUSINESS. 1. Consideration with possible action on the request by Midwest Super Speedway for a Community Development Block Grant Revolving Loan Fund (CDBG-RLF) loan in the amount of $250,000 for furniture, fixtures and equipment (FFE) for this new business which will be located at 975 Lombardi Avenue, Green Bay, WI 54304. Moved by Ald. William Morgan, seconded by Ace Champion to open the floor. Motion Passed. Yes-Matt Schueller, Ace Champion, Eli Hicks, William Morgan, No-None, Abstain-None. Floor open for discussion of applicants' proposed plan, with board members, staff and Nicolet Bank. Speakers: Zac Bryner - 975 Lombardi Ave Will Daniels - Nicolet Bank Moved by Matt Schueller, seconded by Ald. William Morgan to close the floor and return to regular order of business. Motion Passed. Yes-Matt Schueller, Ace Champion, Eli Hicks, William Morgan, No-None, Abstain-None. Moved by Ald. William Morgan, seconded by Ace Champion to approve the request made by Midwest Super Speedway LLC for $250,000 from the CDBG-RLF program for furniture, fixtures and equipment for this new business, which will be located at 975 Lombardi Avenue, Green Bay, WI with an interest rate of 4% amortized for 10 years with a second position lien on all business assets and a personal guarantee and the owner’s will be required to create 8 full-time equivalent positions over the next 18 months with the first 12 months being payments of interest only. Motion Passed. Yes-Matt Schueller, Ace Champion, Eli Hicks, William Morgan, No-None, Abstain-None.  F. INFORMATIONAL. Project and Program Manager - Wendy Townsend presented a brief synopsis as all points were discussed at the October 10th, 2024 meeting. G. ADJOURNMENT. Board Chair-Matt Schueller ruled the meeting be adjourned.  Report to the Community Development Block Grant Revolving Loan Committee of the City of Green Bay MEETING DATE PREPARED BY August 26, 2025 Jessica Maes, Economic Coordinator AGENDA ITEM # E.1 Consideration with possible action on a loan request from Five Thumbs Up, LLC to borrow $27,000 for working capital from Economic Development Revolving Loan Funds (ED RLF). BACKGROUND Five Thumbs Up is a woman-owned bakery established in 2017, specializing in homemade cheesecakes and Kringle. Known for its unique creations and strong reputation, demand has consistently grown, positioning the business for expansion. From July 2023 to March 2024, Five Thumbs Up participated in the Cannery food incubator program. Although the Cannery’s closure created challenges, demand has continued to rise through farmers' markets, community sales, and sold-out cheesecake tasting events. This loan will enable Five Thumbs Up to take the next step by establishing a dedicated kitchen and retail storefront. These upgrades will allow for larger-scale production, greater capacity to fulfill customer orders, and expanded involvement in community events—all while maintaining the quality standards customers have come to expect. Despite strong community support, traditional financing options have been difficult to secure. Assistance from the Revolving Loan Fund will play a vital role in strategic growth, supporting the addition of new employees and providing essential working capital. These funds will be paired with other financing sources, including owner equity, a Kiva loan, and a grant from the Broadway District. Together, these resources will create a solid foundation for expansion, enabling Five Thumbs Up to serve more customers, strengthen its presence in the Broadway District, and continue contributing to the vibrancy of our community. RECOMMENDATION To approve the request by Five Thumbs Up, LLC for an ED RLF loan in the amount of $27,000 at 5% for 3 years, secured with a personal guarantee. FISCAL IMPACT ATTACHMENTS 1. GB RLF Application - FiveThumbsUp 7-25 Updated 2. GB RLF - FiveThumbsUp owner equity affidavit 3. Business Plan - FiveThumbsUp - ver 2 4. Sublease - Five Thumbs Up - 10.14.24 100 North Jefferson Street, Green Bay, Wisconsin 54301-5026 greenbaywi.gov 5. Tax-Return-Analysis(Schultz-FiveThumbsUp)-DMS page 2 of 2  Report to the Community Development Block Grant Revolving Loan Committee of the City of Green Bay MEETING DATE PREPARED BY August 26, 2025 Stephanie Schmutzer, Staff AGENDA ITEM # F.1 Community Development Revolving Loan Fund Status Reports. BACKGROUND RLF loan status reports RECOMMENDATION Receive and place in file. FISCAL IMPACT ATTACHMENTS 1. CDBG Loan Report 2. ED Loan Report 100 North Jefferson Street, Green Bay, Wisconsin 54301-5026 greenbaywi.gov  CD-RLF Loan Status for Open Accounts CD-RLF Loan Status for Open Accounts 8/19/2025 Contract Loan Principal Payment Last Date Amount Balance Amount Payment Notes 1 Initiative One 02/24/15 $105,000 $0.00 $0.00 Apr-25 Payed off 2 Gather on Broadway- eq 06/15/16 $117,000 $20,015.02 $1,465.69 Aug-25 Current 3 U&I Movers Express, LLC 12/21/16 $147,200 $75,514.03 $1,088.82 Jul-25 Current Credit Management 4 12/29/16 $81,500 $42,270.79 $602.85 Aug-25 Current Control, Inc 5 929 Cedar, LLC 09/15/17 $250,000 $0.00 $0.00 Feb-25 Payed off Historic West Theater, 6 10/11/18 $87,000 $56,175.49 $659.75 Aug-25 Current LLC 7 Badger Brewing - eq 11/27/18 $140,000 $112,252.42 $877.62 Jul-25 Current 8 White Dog 06/04/20 $30,000 $9,523.91 $303.75 Jul-25 Past Due American Tent LLC - 9 06/15/21 $215,000 $147,935.97 $2,343.35 Aug-25 Current EQUIP 10 American Tent LLC -WC 06/16/21 $35,000 $24,082.48 $381.48 Aug-25 Current 11 Motel 6 (PSR) 03/16/22 $250,000 $200,167.88 $1,849.22 Aug-25 Current 12 Gentle Vet 04/08/22 $150,000 $146,766.64 $957.31 Aug-25 Current 13 Legacy Green Bay #1 04/08/22 $150,000 $129,812.49 $1,656.15 Mar-25 Past Due 14 Legacy Green Bay #3 10/01/23 $100,000 $88,820.76 $1,012.46 Mar-25 Past Due 15 Bay Area Burgers 07/07/22 $35,000 $27,992.10 $725.15 Sep-24 Past Due 16 Bambu Green Bay 05/05/23 $35,000 $0.00 $0.00 Jun-25 Payed off 17 Jenna Tax solutions - WC 10/13/23 $35,000 $23,795.99 $1,033.34 Apr-25 Past Due Jenna Tax solutions - 18 10/13/23 $165,000 $162,178.65 $1,016.64 Apr-25 Past Due Building 19 Alwin Manufacturing 11/14/23 $225,000 $191,819.04 $2,278.02 Aug-25 Current Voyageurs Sourdough- 20 10/10/24 $215,000 $215,000.00 $716.67 Aug-25 Interest Only Equip 21 Voyageurs Sourdough-WC 10/10/24 $35,000 $35,000.00 $1,048.99 N/A Current 22 MIDwest Super Speedway 10/17/24 $250,000 $250,000.00 $833.33 Aug-25 Current $2,852,700.00 $1,959,123.66 $20,850.59