expedition - Lewis and Clark RDC

VOL. 37
2012 Annual Report
The
EXPEDITION
Lewis & Clark Regional Development Council
North Dakota Opportunity Fund
Begins Lending
Area Businesses Financed in 2012
Location
Business
Amount
Jobs
Bismarck
Larine Zoeller
$5,000
1
Dunseith
Brandi Dubois
$5,000
2
Elgin
Amanda Rio dba A’s & J’s
$36,250
3
Garrison
Merry Moose
$35,000
1
Hazen
Promiseland Designs
$24,000
2
Mandan
Reis Martial Arts
$50,000
2
Mandan
Destiny Screen Printing
$14,000
2
Mandan
Zachmeier Manufacturing
$100,000
3
Mandan
Aire Master of North Dakota
$25,216
3
Mandan
Hirsch Florist
$75,000
5
Mandan
Payton & Parker Properties
$150,000
8
Mandan
CR Oil
$494,500
8
New Salem Keller Family Foods
$75,000
5
TOTAL $1,088,966
45
2011 & 2012 Operating
Financial Report
Grants
2012
$70,250
$69,540
Services
$152,641
$239,713
Loan Program Interest
$160,925
$151,141
Bank Interest
$5,379
$5,573
Dues Income
$75,844
$90,807
$465,039
$556,774
Total Revenues
Expenditures
2011
Personnel
2012
$177,965
$243,341
$12,180
$29,736
Dues, Seminars, Training
$5,645
$5,317
Supplies, Equipment
$9,740
$3,983
$128,176
$102,406
$81,779
$82,729
$9,895
$22,629
$425,380
$490,141
Travel
Debt Service, LLR
Indirect/Support
Other
Total Expenditures
The fund began taking applications in December and funded its first loan
on December 26, to CR Oil, Inc. CR Oil used the NDOF to help finance
the acquisition of the Old Red Trail Conoco in Mandan. The NDOF fund
financed the interim portion of the SBA 504 loan. With the assistance of
the SBA 504 loan and the LCRDC’s Mandan IRP loan fund, the company
was able to complete the acquisition. The $1.1 million project is expected
to create a minimum of 2 full-time positions and maintain 12 existing positions.
The NDOF fund maximizes leveraging potential for lenders and helps
small businesses expand and create jobs. Eligible uses of funds include
business start – up costs, working capital, business asset purchases, construction, renovation, SBA 504 interim financing and other improvements
to business.
For more information or to apply to the North Dakota Opportunity Fund,
contact Matt Burthold, Loan Officer, at the Lewis and Clark Regional Development Council at 701-667-7601 or [email protected].
Revenues
2011
On August 31, 2012 the US Department of treasury Awarded $9.7 million
dollars to the Mandan Consortium as part of the State Small Business
Credit Initiative (SSBCI). The Consortium hired the Lewis and Clark Regional Development Council to administer the loan fund known as the
North Dakota Opportunity Fund (NDOF).
Burthold, Martin & Whitney Join LCRDC
Matt Burthold joined the staff as a Commercial Loan Officer. Matt has 27 years of experience as a USDA RD Business Program Specialist. His primary duties are to help
deliver and administer the ND Opportunity Fund, SBA 504
loans, and other Council lending programs.
Dot Martin joined the staff as an Administrative Assistant.
She brings 33 years of office administration experience,
most recently at Next/Era Energy. Dot provides assistance with data management, board support, accounting,
reporting, loan processing, loan administration and servicing.
Tracy Whitney joined the staff as a Commercial Loan Officer. He has over 20 years experience in commercial lending, most recently with the Dakota CDC. His primary duties
are to deliver and service SBA 504 commercial loans
statewide, the new ND Opportunity Fund, and other Council lending programs.
Lewis and Clark Regional
Development Council
200 1st Ave NW Suite 100
Mandan ND 58554
PRSRT STD
U.S. Postage
PAID
Permit #433
Bismarck, ND
58501
New Website! www.lewisandclarkrdc.org
Lewis & Clark Regional Development Council
200 1st Ave NW Suite 100
Mandan ND 58554
Phone: 701.667.7620
Fax: 701.667.7630
Email: [email protected]
Web: www.lcrdc.org
Web: www.lewisandclarkrdc.org
Lewis & Clark RDC Officers
Chair: Steve Lee,
McLean Co. Commissioner
Vice Chair: Sharon Jangula
Emmons County Small Cities
Secretary/Treasurer - Russ Staiger,
BMDA
Lewis & Clark RDC Staff Members
Executive Director: Paul Rechlin
Director, Commercial Lending: Brent Ekstrom
Loan Officer: Matt Burthold
Loan Officer: Tracy Whitney
Loan Administrator: Justin Ell
Community Development Coordinator: Lyle
Hogue
Community Development
Council Approves $599,000 in Grants
With no cuts to the Community Development Block Grant (CDBG) program this year, the Lewis and Clark Regional
Development Council was able to assist 11 projects in 2012-13 with about $599,000 in grants.
Because there were no funding cuts this year, half of the applicants received grant funding to assist in meeting
their community development needs.
2013 CDBG Funded Projects
2012 CDBG Funded Projects
Two multi-family housing rehab projects reCDBG
CDBG
Location
Project
Location
Project
ceived grant funding
Grant
Grant
along with four public
Carson
Housing Rehab
$54,000
Steele
Rehab Housing $49,793
facilities projects. In
total, five projects
Max
Housing Rehab
$53,400
Garrison
Rehab Housing $47,059
were funded.
Funding for 2014
appears to be about
the same as last
year. For more information on the CDBG
grant program, contact our Community
Development Coordinator, Lyle Hogue at
701.667.7623.
Lagoon Repairs
$70,018
Elgin
Fire Hall Expansion
$55,000
New Leipzig Fire Equipment
$29,652
Glen Ullin
Lift Station Repairs
$36,955
Goodrich
Fire Hydrant Replacement
$48,675
Lincoln
Lagoon Repairs
$50,000
Hebron
Tappen
Storm Drainage $104,531
TOTAL FUNDING
$301,053
TOTAL FUNDING
$298,030