Guys, are you all kidding me? Did anyone checked the background from this guy (owner from the LiquiPur, Mr Bernad P Kaufmann)?
Even not you, the business reporter? Should be your task, or?

I can't understand how a city can give this man only one single penny. He have more court records based on money issues as i have ever seen at any another business man (http://wcca.wicourts.gov/simpleCaseSearc...).
34 reords, some are still active and some before the city gave him the 100k. This guy is NEVER a victim of the "credit crisis" or whatever. This man is victim of his mind. And be sure a case for federal law. But their are no guys with balls out their, otherwise would be the FBI already after him.

Wow...another thanks-to-the-city-council, taxpayer-assisted pipe dream gone bust before it even got off the ground--a precursor to the pending two-sheeter ice arena debacle (and whatever happened with that find-raising dealine anyway)?!

At least our council of elderberries only handed the LiquiPur scammer--oops..."entrepreneur"--$100,000 of taxpayer money, instead of the $2 million coat least one of the council "members" proposed for the ice arena!

And who can forget the scam artists who tried to get the city (and state, and feds) to hand them a bunch of money along with contract guarantees to turn the GM plant into a sod farm for roadside reseeding?! ROTFL-with scissors--but I'm surprised the council didn't throw a wad of OUR money at them as well!

Here's an idea--I propose that we apply for some "seed money" to convert the abandoned GM facilities into a start-up, home-grown, green-powered space program with the goal of sending a manned rocket (I can think of a few council members for crew) to Uranus! Hey, maybe we can even use some of the "natural gas" being emitted from the landfill for propellant (that, and a lighter)? Now that's multi-faceted problem solving!

Napalm, we're not talking about $500/month for a one bedroom apartment here.

Wait, I wonder if heat is included? Does it include a parking space?

$170k for 7 months?? Anyone charging $24,285. a month

Considering they pay $83,790.19 in taxes on this property roughly 28% of what they would have collected in one years time at this rate, I think it is pretty decent pricing.

janesvillean, I do understand the total amount was $200,000. What I don't understand is why money is given before financing is totally secured.

Napalm, you apparently haven't the slightest idea what commercial leases charge. Didn't stop you from opening your mouth....
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SwissChick, the city advanced half of the loan, with the other half contingent on financing. This is fairly common. The arrangement predates the credit crisis, and business financing has plunged. In 2009 banks only financed 1/3 of the loan dollars through the SBA that they did in 2008 -- and that's WITH the government backing. truth1 is very correct that this is starting to stink. The Fed has engaged in a lot of monetary easing and shadow liquidity just to keep things where they are, but in this environment many banks are already facing calamitous losses in existing lending so they have tightened their standards to previously unheard-of levels, sort of a one-ding-and-you're-out rule. Some banks require businesses to be currently profitable and to show no losses in any of the last 18 months, which includes the deepest part of the recession, so if you just held on by the skin of your teeth for a few months you can't get a loan to save your life even if you had perfect business credit for years before that.
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I can't say from here whether this business is badly run or just another victim of the credit crunch or somewhere in between.

So, is he living on the $100,000 that the City gave him? They shouldn't have given him a dime until he had his financing secured.

Did you do the math to see how much per square foot the rent was? It's actually pretty reasonable for a manufacturing location.
See how much rent you're paying per square foot on a residence.

Another example of why The City should never pay a ($100,000.00) "bribe" to any company ever. Capitalism works best by being left alone.

Yes, truth 1. There is kind of a catch 22 system in place right now though. The banks are holding on to that money in order to abide by new federal regulations that restrict how much they can lend and to whom. Another bureaucratic blunder.

"unable to obtain financing to start the bottling operation"........Isn't that what the famous taxpayer-paid BANK BAILOUT was supposed to help with???