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The Mustang LLC Powered by ZoomGrants™ Email This Preview Save as PDF Print Close Window A▲▼ MAG Park City CARES Small Business Grant Program Deadline: 11/9/2020 The Mustang, LLC The Mustang Restaurant Jump to: Application Questions Documents Contract/Acknowledgments $ 40,000.00 Requested Submitted: 11/2/2020 2:12:31 PM (Pacific) Project Contact Dustin Stein dustin@mustangparkcity.com Tel: 435-901-4350 Additional Contacts none entered The Mustang, LLC 890 Main St Park City, UT 84060 United States Managing Partner Dustin Stein dustin@mustangparkcity.com Telephone435-658-3975 Fax Web www.MustangParkCity.com EIN 47-5646946 Application Questions top 1. Business Owner Information Please include the ALL of the following information for ALL BUSINESS OWNERS: Name, Address, Phone Number, Email Address and Social Security Number A "business owner" is any individual that owns 20% or more of the business. Dustin Stein, 482 W 600 S Heber, UT 84032, 435-901-5875, Dustin@MustangParkCity.com, 548-89-8700 Sean Hackett, 1297 Marlow Rd., Santa Rosa, CA 95401, 707-477-1712, Sean@MustangParkCity.com, 551-49-8024 2. Please state the number of Full-time Employees as of the date of application. 5 3. Please enter the date the business was established and licensed in Park City. Businesses that do not have a Park City business license prior to March 1, 2020 will be scored lower than businesses who have maintained a business license in good standing. October, 4 2004 4. This business is physically located in Park City. 5. Please explain the negative impact COVID-19 has had on your business. We are a high end fine dining restaurant.,75%-80% of our annual revenue comes between Dec-March. In March we were forced to shut down during our busiest month. We suffered food spoilage costs near $7,000 and revenue loss of $150,000 1st qtr. Because of virus exclusions we were not covered for spoilage or business interruption. We attempted to open for the summer. We invested $15,000 in patio modifications, inventory and labor, but were forced to shut down the first weekend because we did not have enough staff to operate safely. Our core staff is older and did not feel safe returning. The additional unemployment benefits that were being offered in July compounded our challenges finding staff. Summer being a short season and only compromising 20% of our annual revenue on a good year added with the risk of shut down or quarantine made it not economically viable to open this summer. At a reduced occupancy this winter and indoor dining confidence uncertain it is unlikely we would be able to generate enough in sales to warrant the labor costs associated with in person dining this winter. ✔✔✔✔ Yes gfedc No (If no, business is not eligible for this grant. Do not continue or submit this application.) Our most devastating loss has been to our employee retention. As you know employee retention is the most challenging aspect of operating on Main. We have spent the last 6+ years incentivizing and cultivating our staff, Because we were not able to open for the summer and potentially winter they are forced to look for work elsewhere. If we do not open this winter we may lose them permanently. 6. Please specify the dollar amount of financial loss your business has felt due to COVID AND the percentage of this loss between March 1- November 30, 2020. $175,583.53 7. This business is... 8. This business agrees to spend the entire grant award by November 30, 2020, per U.S. Department of Treasury requirements. If the deadline is extended through December 30, 2020, this organization agrees to spend the entire award amount by December 30, 2020. 9. This business agrees that they have the ability to document and report on use of funds. 10. Type of Business 11. Please specify the NAICS Code for your business. HOW CAN I DETERMINE THE CORRECT NAICS CODE FOR MY BUSINESS? URL: https://www.naics.com/hrf_faq/how- can-i-determine-the-correct-naics-code-for-my-business/ 722511 12. Is this business minority-owned? 51% owned, operated, and controlled on a daily basis by one or more (in combination) persons of a racial/ethnic minority 13. Is this business owned by a woman? 51% owned, operated, and controlled on a daily basis by one or more (in combination) women. 14. Is this business owned by a veteran? 51% owned, operated, and controlled on a daily basis by one or more (in combination) veterans. 15. Please state how the funds would be used, if awarded. gfedc open as of the date of this application ✔✔✔✔ intends to reopen by November 30, 2020 gfedc does not intend to reopen by November 30, 2020 ✔✔✔✔ Yes gfedc No ✔✔✔✔ Yes gfedc No gfedc Sole Proprietor ✔✔✔✔ LLC gfedc Corp gfedc S-Corp gfedc Partnership gfedc Yes ✔✔✔✔ No gfedc Yes ✔✔✔✔ No gfedc Yes ✔✔✔✔ No 0 Payroll 0 Rent or Mortgage 0 Utilities 0 Insurance 0 Inventory $40,000 Other 16. If Question 15 includes funds for other, please describe. On temporary structures and heaters. Which will allow us to maintain social distancing and accommodate outdoor waiting. We would like to supplement revenue by offering to-go options and we have purchased a food trailer. We will require food warming and holding equipment and trailer modifications. Plus funds for advertising and marketing to be spent locally to promote our new business model. Temporary structures - $10,000 Heating equipment - $ 5,000 Food warmers - $18,000 Food truck mods. - $ 4,000 Advertising - $ 3,000 17. Did your business receive funds from the Paycheck Protection Program? If yes, specify the amount of funding awarded and how the funds were used. If no, type "no" Yes we did. $92,500 75% payroll 20% rent 5% utilities 18. Did your business receive funds from EIDL? If yes, specify the amount of funding awarded and how the funds were used. If no, type "no" Additional debt accrued from EIDL Loan - $149,000 $49,000 spent 1st qtr taxes - $30,500 Rent/CAM - $14,000 Business Loan payment - $4,500 Leaving $100,000 which will cover 4 months of expenses 19. Did your business receive funds from SBA Express Bridge Loans? If yes, specify the amount of funding awarded and how the funds were used. If no, type "no" Yes. Additional debt accrued from Bridge Loan - $10,000 Covered a portion of May 2020 rent/CAM obligation. 20. Did your business receive funds from SBA Debt Relief? If yes, specify the amount of funding awarded and how the funds were used. If no, type "no" Yes. 6 months of loan forgiveness $26,442. 21. Did your business receive funds from CDBG-CV or Mountainland Association of Governments? If yes, specify the amount of funding awarded and how the funds were used. If no, type "no" No 22. Did your business receive funds from the Utah COVID-19 Commercial Rental Assistance Program? If yes, specify the amount of funding awarded and how the funds were used. If no, type "no" Yes. $10,000 Covered partial rent/CAM for July. 23. Please state any other federal, state and local assistance this business has received due to the COVID-19 pandemic. Specify source of funds, amount of funds awarded and a brief description of how the funds were used. Shop In Utah grant - $50,000 Towards operating cost to remain open. Rent, CAM fees, and utilities. We were unable to offer in person dining so we offered 50% off private room rentals. 24. Please explain how the use of these funds will allow the business to forward City Council's critical priorities (https://www.parkcity.org/departments/budget-debt-grants/strategic-planning) are then eligible for up to 20 bonus points. If we receive assistance we will be able to adapt our business model and remain open this winter. This will in turn advances the city's goals in the following ways: 1. Instead of being a dark or vacant store front, we will have our lights on. 40,000.0040,000.00 TOTAL 2. We will be be able to have a food truck presence. Eventually at the Ice Arena. Allowing us to provide a more affordable option for locals ultimately reducing our dependency on tourism. 3. If we are able to continue operating it will be with a reduced occupancy. By supplementing our income with to-go food we will have the space and money to participate in more environmental initiatives. Such as, recycling, both consumable goods and food waste. 4. We will be offering discounts on to-go family meals to locals. Additionally, we will be using social media to attract local customers. This will help improve community relations between locals and businesses while increasing their use of social media for local engagement. 5. By being able to remain open we will also be maintaining our core staff that have all been with us for 6 or more years. We have spend the last 6+ years building our crew. To lose them would be the biggest blow to our business. Our staff is comprised of all ethnicities young and old. They are all valued members of our community. 6. We will continue to provide food donations to our local families in need. 7. Lastly, if we are able to open we will be able to continue contributing tax revenue. Documents top Documents Requested *Required?Attached Documents * City Business License ✔✔✔✔ City Business License Documentation demonstrating a financial loss since March 1, 2020 (profit/loss statements, bank statements, bills for ppe, etc) ✔✔✔✔ March-Oct 2020 p&l Completed and signed W-9 form (can be found on IRS website) ✔✔✔✔ W9 Drivers License/State Issued ID for ALL owners ✔✔✔✔ Sean Hackett DL Dustin Stein DL Optional: letter to Award Committee, i.e. what the grant would help you accomplish or describe COVID impacts on your business here (1500 character limit) Contract/Acknowledgments top The Mustang, LLC The Mustang Restaurant 17,500.00 Designate who will collect the award from Miner's Hospital with a photo id. Full Name as it appears on their photo ID: The applicant acknowledges and understands that the Grantor is relying on the information provided herein in deciding to award a small business grant. Each of the business owners represents, warrants, and certifies that the information provided herein is true, correct, and complete. Each of the business owners agrees to notify the Grantor immediately and in writing of any changes in name, address, or employment, and of any material adverse change (1) in any of the information contained in the application, (2) in the financial condition of any of the undersigned, or (3) in the ability of the undersigned to perform its (or the) obligations to the Grantor. In the absence of such notice or a new and full written statement, this should be considered as a continuing statement and substantially correct. Awards are to be used for business operations in Park City and may not be used to support operations outside of Park City. Awards are subject to audit. Misrepresentations in the application or in communications with program staff may result in forfeiture of the award. DUPLICATION OF BENEFITS Businesses may not receive federally-subsidized disaster assistance that duplicates any part of their disaster loss covered by insurance or another source, such as the Small Business Administration (SBA) programs (PPP and EIDL), the Federal Emergency Management Agency (FEMA), Community Development Block Grant (CDBG-CV) and state programs Application ID: 302845 Become a fan of ZoomGrants™ on Facebook Problems? Contact us at Questions@ZoomGrants.com ©2002-2021 GrantAnalyst.com. All rights reserved. "ZoomGrants" and the ZoomGrants logo are trademarks of GrantAnalyst.com, LLC. Logout | Browser * ZoomGrants™ is not responsible for the content of uploaded documents. (Commercial Rental Assistance). Applicants for the Park City CARES Small Business Grant Program must disclose any funds applied for or received from these sources or other federal and state assistance programs. It is Park City’s sole discretion to determine if funds received from any of these sources constitutes a duplication of benefits. If a duplication of benefits determination is made after the City funds have been disbursed, the amount of funds that were determined to be duplicative must be repaid to the City. USE OF FUNDS Applicants agree to spend the entire grant award in accordance with U.S Department of the Treasury requirements by November 30, 2020. If the deadline is extended through December 30, 2020, applicant agrees to spend the entire award by December 30, 2020. Award amounts may not be used for revenue replacement or for the payment of property taxes. I declare under criminal penalty under the law of Utah that the foregoing is true and correct. Contract/Acknowledgments Documents Signatures The Mustang, LLC MAG Dustin Stein pickup ID The Mustang, LLC MAG Dustin Stein 11/19/2020 4:30:07 PM dustin@mustangparkcity.com 73.131.195.145 Jess Bedingfield 11/20/2020 4:34:44 AM jess_grants@mountainland.org 67.2.221.125