Re: [LACTTE] Re: [Linux-aus] ComputerBank NSW Grant Proposal

[Pia Smith <pia@linux.org.au>]

On Wed, 2004-06-16 at 07:27, Anthony Towns wrote:

> Which you should, of course. At ~5%, it's about equivalent to a $2k (+/-
> $200) grant now, if they max out the facility by being continuously
> in debt to us for $10k for the first year and $15k for the two years
> after that. If they don't do that, it's less than that. If they're in
> debt to us for more than that over the couple of years, or they don't
> end up repaying because they go bust, it's more than that obviously.

No, our donation to Computerbank if you like is the fact that we are
providing an interest free line of credit to get them on their feet. 

> Is ComputerBank NSW getting better facilities better for LA than sending
> someone to a conference in Europe, or bringing someone from Europe or the
> US out here? If we can ensure that we don't end up losing $15k outright,
> then that's about what the interest costs come to.

The line of credit for Computerbank is necessary to initiate the Work
for the Dole scheme in which they process the 5000 machines they've been
donated and get those machines out to the socio-economically
disadvantaged, meaning a potential 5000 new developers :) _and_ at any
rate, once the Work for the Dole scheme is approved (and they had one
going before, and continue to have one up in Newcastle and other places)
they get a lot more money back to fund it, and will be able to pay back
the line of credit. It isn't a high risk loan. Perhaps they will as part
of the deal donate something to a usergroup, I don't know. I can't
understand why the LUGs are not working closer with Computerbank in
order for everyone to win :)

> Can we ensure we don't end up losing $15k or more outright?

There is always the 5000 machines, that are currently in storage, if
there is seriously a problem, then there is some money in those
machines.

Pia
-- 
Pia Smith <pia@linux.org.au>
Linux Australia