Laserfiche WebLink
Rotor Facility <br />Component Facility <br /> <br />12022 N. P Street <br />8525 Freeland St <br />La Porte, TX 77571 <br />Houston, TX 77061 <br /> <br />713-364-7500 <br />713-364-7500 <br /> <br /> <br /> <br />La Porte Development Corporation Board Assistance <br />Since 2011, ACT Independent Turbo Services has added additional service offerings and experienced rapid growth. The <br />company is prepared to invest in additional capacity and capabilities, but the move to La Porte at this time is very cost <br />prohibitive. Below is a summary of the costs associated with moving the business to La Porte versus expanding at our <br />existing location near Hobby Airport. <br /> <br />Hobby FacilityEstimated Costs <br />Additional Building and Laydown Capacity Note: The Building Costs would be born by the developer <br /> Developer Cost - Estimated <br />- 15,000sqftand amortized to ACT as lease costs. This is to Expand Hobby <br />$1,700,000 <br />- Pavement ImprovementsFacility to Match Capacity with Proposed LP Facility. <br />Business Interruption$ 200,000 <br />Project Management Expenses$ 75,000 <br />ACT Independent Turbo Services 2014/2015 Expenses$ 275,000 <br />La Porte FacilityEstimated Costs <br /> Developer Cost - Estimated <br />NEW 40,000sqft Crane & Offices Building <br />Note: The Building Costs would be born by the developer <br />$2,600,000 <br />and amortized to ACT as lease costs. <br /> Developer Cost - Estimated <br />NEW 6,000sqft Main Office Building & Employee Parking <br />$1,000,000 <br />Note: Previous Management signed long term lease. The <br />Mitigated Lease Obligations at Hobby until early 2018$ 600,000 total lease obligation is over $1MM. This is the estimated <br />mitigated value. <br />Business Interruption$ 400,000 <br />Moving Expenses$ 450,000 <br />Project Management$ 150,000 <br />ACT Independent Turbo Services 2014/2015 Expenses$ 1,600,000 <br /> <br /> <br />The company Board of Directors has indicated that approval may be given for relocation if management can keep the total <br />expansion and relocation cost to the company at less than $1MM total. The management team feels that with a <br />commitment of assistance from the Development Corporation of $450k and internal efforts by management on the <br />continued mitigation of existing lease obligations, moving expenses, business interruption and overall project costs that we <br />can achieve the $1MM target. <br /> <br />June 30, 2014 Page: <br /> 3 of 3 <br /> <br /> <br />