Anyone Else Think It Wont Happen?

[tonyspumoni]

This is the ATVM loan program web site where the important information and documents can be found:

http://energy.gov/lpo/services/atvm-loan-program

The key document from that site is the "Updated-Guidance-for-Applicants" as this document details how the DOE interprets the law as written and spells out what they are expecting to see from applicants:

http://energy.gov/sites/prod/files/...r-Applicants-Final-Version-October-5-2012.pdf

There is also the ATVM loan overview which has some of the information from the Guidance in a condensed format however can also be confusing as it does leave out some key information which is found in the Guidance document:

http://energy.gov/sites/prod/files/2014/05/f16/ATVM-Program-Application-Overview.pdf

I went to the Federal Register for the rules for the ATVM. Among a slew of nuggets that spell out what DoE told Congress they would do and what the Secretary would implement is the following:

"Section 136 also requires the Secretary to ensure that the proceeds of the direct loan are expended ‘‘efficiently and effectively.’’ The Secretary will carry out this obligation by reviewing documents required in 611.109 for purposes of loan monitoring and audit. Loan funds will be considered as being expended ‘‘efficiently and effectively’’ if that documentation demonstrates, in the sole judgment of the Secretary, that the borrower is making appropriate progress toward achieving the purpose for which the loan was originally made. The Department anticipates that in order to meet this requirement, loan proceeds will be disbursed through periodic drawdowns that correspond to actual project expenses."

66724 Federal Register / Vol. 73, No. 219 / Wednesday, November 12, 2008 / Rules and Regulations

Surely and aptly I'll be criticized for not employing the most recent rules yet I assure you they read the same way as this one does. This one was just the one I had saved as a document. I read the budgetary requests to Congress for 2014 and 2015 and everything there that describes implementation accords with this rule.

The key language here is "actual project expenses", which alone should dispell the notion that the investors can take the money and blow town.

 

[Rickb]

I do believe any intelligent person would indeed expect a commissioner to ask good questions and make good points about any concerns over funding and whether EM could succeed prior to the vote. I believe nobody really had an issue with the fact that she voted against the deal as most of us are realistic enough to expect that.

However after losing the vote she has actually crossed over the line by instigating an active campaign against the Elio Motors deal which began by costing the Caddo Parish taxpayers money having to defend against a lawsuit from a commissioner who was annoyed she lost a fair, and what proven in court to be a perfectly legal, commission vote. She also continues to this day to do what she can to hinder EM's progress via vocal opposition to the project including making public negative comments to the media and even on EM's Facebook page as recently as the last two weeks. This is in fact counter to her job as a commissioner as she is purposefully trying to sabotage an active deal which the Parish has in place which if it fails could further delay job creation and/or cost the taxpayers money. This of course should be the opposite of what she wants but she has proven she wants to be right more than she wants to create jobs or save the taxpayers money.

I don't agree with her actions but that's politics. Kind of like politicians trying to overturn the Affordable Health Care Act. Politicians are like a dog with a bone. Elio Motors provided fuel for her fire by making the latest delay announcement. Elio Motors needs to get their funding, the factory tooled, and the deal locked in as soon as possible to prove her wrong along with all the other opponents and naysayers.

 

[goofyone]

I don't agree with her actions but that's politics. Kind of like politicians trying to overturn the Affordable Health Care Act. Politicians are like a dog with a bone. Elio Motors provided fuel for her fire by making the latest delay announcement. Elio Motors needs to get their funding, the factory tooled, and the deal locked in as soon as possible to prove her wrong along with all the other opponents and naysayers.

No matter whether we agree or disagree on many of the details we enjoy discussing on this forum I believe that the vast majority of our members agree that we would love to see EM prove her, and all the other naysayers, wrong as soon as possible.

I also believe the EM team is doing everything within their power to make this happen so I am enjoying the show and rooting for them to succeed as I know what they are trying to achieve is not easy to do.

 

[John Painter]

I don't agree with her actions but that's politics. Kind of like politicians trying to overturn the Affordable Health Care Act. Politicians are like a dog with a bone. Elio Motors provided fuel for her fire by making the latest delay announcement. Elio Motors needs to get their funding, the factory tooled, and the deal locked in as soon as possible to prove her wrong along with all the other opponents and naysayers.

Personally I think she opened herself up to a malfeasance suit, especially if Elio Motors were to fail. I think she did cross a line, and could be argued was not looking out for the interests of constituents of her ward, hopefully there were no other players behind her decision to file suit otherwise that would indicate conspiracy.

 

[Rickb]

I went to the Federal Register for the rules for the ATVM. Among a slew of nuggets that spell out what DoE told Congress they would do and what the Secretary would implement is the following:

"Section 136 also requires the Secretary to ensure that the proceeds of the direct loan are expended ‘‘efficiently and effectively.’’ The Secretary will carry out this obligation by reviewing documents required in 611.109 for purposes of loan monitoring and audit. Loan funds will be considered as being expended ‘‘efficiently and effectively’’ if that documentation demonstrates, in the sole judgment of the Secretary, that the borrower is making appropriate progress toward achieving the purpose for which the loan was originally made. The Department anticipates that in order to meet this requirement, loan proceeds will be disbursed through periodic drawdowns that correspond to actual project expenses."

66724 Federal Register / Vol. 73, No. 219 / Wednesday, November 12, 2008 / Rules and Regulations

Surely and aptly I'll be criticized for not employing the most recent rules yet I assure you they read the same way as this one does. This one was just the one I had saved as a document. I read the budgetary requests to Congress for 2014 and 2015 and everything there that describes implementation accords with this rule.

The key language here is "actual project expenses", which alone should dispell the notion that the investors can take the money and blow town.

Investors aren't going to blow town, but what they are able to do is use their private funds for 'other' actual business expenses (salaries, bonuses, etc.) over time if/or when they get the low interest ATVM Loan. It may also free up their personal funds for other huge return investment opportunities.

Government's Role: A possible low interest Federal Government ATVM Loan used to tool up a manufacturing plant made available thru a government supported State and Local Government Economic Development Foundation that provides tax break incentives extending 10 years beyond startup to include a 13% refund on each individual employees salary written into the Caddo Parrish Contract deal. If one is an Elio supporter we need to praise all levels of government and the political process in helping to make Elio Motors a success. No wonder it's taking so long with all the politics and tax payer funding (NOT GIVEAWAY!) involved. It's a win, win, win scenario. Go Elio!

 

[WilliamH]

This is the ATVM loan program web site where the important information and documents can be found:

http://energy.gov/lpo/services/atvm-loan-program

The key document from that site is the "Updated-Guidance-for-Applicants" as this document details how the DOE interprets the law as written and spells out what they are expecting to see from applicants:

http://energy.gov/sites/prod/files/...r-Applicants-Final-Version-October-5-2012.pdf

There is also the ATVM loan overview which has some of the information from the Guidance in a condensed format however can also be confusing as it does leave out some key information which is found in the Guidance document:

http://energy.gov/sites/prod/files/2014/05/f16/ATVM-Program-Application-Overview.pdf

Thanks for the info. I'm in the process of reading it.

 

[Avards]

I was raised in the midst of Louisiana politics. And, as to your last paragraph, I can only state that you appear to afford Louisiana politicians a much higher level of respect than do I.

 

[JCar]

I put down 2000 dollars .have 2 reservations. was extremely excited for this vehicle. And initially when there was talk on facebook or at live displays they were so confident it was going to be built this summer. Then the delays happened. Im ok with that. But then i started noticing on facebook this last week or 2. People asking questions and elio made about 6 comments that i recall where they state there is a possibility the car wont happen. How do they go from its definately coming this summer to just a small delay to its possible it wont happen??

I hope the price of oil rises soon, or the Peak-Oil-denying public will curb momentum for anything sold on a fuel efficiency basis. Then again, the low initial cost of the vehicle might override that.

I'm no business guru but you'd think it could have started off as a smaller operation instead of going full bore Hummer-plant scale from the start. Too much speculation is also crazy-making. Just think positively.

 

[WilliamH]

This is the ATVM loan program web site where the important information and documents can be found:

http://energy.gov/lpo/services/atvm-loan-program

The key document from that site is the "Updated-Guidance-for-Applicants" as this document details how the DOE interprets the law as written and spells out what they are expecting to see from applicants:

http://energy.gov/sites/prod/files/...r-Applicants-Final-Version-October-5-2012.pdf

There is also the ATVM loan overview which has some of the information from the Guidance in a condensed format however can also be confusing as it does leave out some key information which is found in the Guidance document:

http://energy.gov/sites/prod/files/2014/05/f16/ATVM-Program-Application-Overview.pdf

I sat down and went through the references you supplied. Also some of the internal references in those documents.
What I got out of it can be summed up as follows.

If I read everything right the Eloi definitely qualifies under the mileage classification for a "Two Seater" which would only appear to require 31.6 MPG . (That's from the average MPG charts) Not clear from the standards whether that's combined or not, but I think the number I saw for Elio combined was about 60 MPG.
The issue that might be problematical is the "Car" thing. But it would probably never have gotten past the first stage if the DOE was going to play the definition game.
Chapter II of title 10 of the Code of Federal Regulations part 611.206 appears to give some priority to the Elio project since the factory is currently sitting idle and is over 20 years old.

With that said, I'm sure that Elio had professional help in making their request since government grants and loans are something you need a specialist, or team of specialists to do right.
.........................................................................

With regard to District 7 Caddo Parish Commissioner Stephanie Lynch.
Lynch was elected to the Shreveport City Council on Nov 4.
Why do I have a feeling that we haven't heard the last of her?

 

[outsydthebox]

....Come on back to the real world...

But then I wouldn't get to enjoy your endless wit.