MEETING MINUTES— 7.9.2015
Location: Nebraska The Pizza Ranch – 84th & Lexington | 12pm
Present: Members: Nga Vu, Tim Kirkpatrick, Fred Knight, Steve Maly, Patty Gerlach, Peggy Green, Joanne Bartels, Kevin Harrington, Diana Schilf, Jon Borton, Darlene Boardman, Sydney Stanard, Scot DeWitt, Tony Lawhorne, RJ Lipert, Shannon Meysenburg, Sherri Recker, Bill Neeman, Geoff Downes, Barb Tyler, Capt Butler, Carl Tesch, Larry Gudeken, Mindy Lubick, Kolleen Meyer-Krikac, Doug Fry, Kelly Jensen, Amy Fish
Introductions/ Member Announcements:
- Amy called the meeting to order. Joanne & Nga approved the June minutes.
- All members introduced themselves.
- Jon Borton shared the latest information regarding Tickets at Work A link will post soon.
- Capt Butler said there has been a rash of burglaries in the Belmont, Highlands and Capitol Beach areas and those are under investigation.
He touched on the body found under the bridge on West O street who was identified as a homeless person. At this time it is being treated as a homicide or suspicious death.
The 14th & Superior roundabout had 6 accidents in June and is now the intersection logging the most accidents in the city. Road construction continues to be a challenge for the entire city. Most of the work in NW Lincoln is supposed to be done sometime in November. In 2016 the NW 48th street link to Air Park will present some challenges in that area.
The Uncle Sam Jam went well. Although the crowd arrived later than usual there was still good attendance overall and the weather was perfect.
The first ever Pop with a Cop meet and greet took place Cooper Park off 8th and D streets. The event gave the public the opportunity to talk with officers about neighborhood problems or concerns and ask questions. The Salvation Army provided a food truck and over 100 people attended.
Social Chair Update:
- The annual Salt Dogs outing is set for Thursday, July 16th. Sherri reminded us that all rsvp’s must be in today.
- The State Games of America volunteer event is set for Sunday, August 2nd at Lincoln High. Morning or afternoon shifts are available. RSVP to firstname.lastname@example.org with your time slot and t-shirt size.
- The annual Golf Scramble is scheduled for Wednesday, August 5th with a 2:30pm start at Mahoney Golf Course. $26 per golfer for 9 holes with cart. $6 for no golf – cart only. RSVP to email@example.com.
- RJ spoke about the Mustache Ride fundraiser event being spearheaded by his wife, Leslie. Proceeds benefit the Lincoln Food Bank Backpack Program. The event takes place August 22nd. See the Facebook event page for more information and to register or email Leslie@generalfiresafety.com
- $2814.96 in the checking account and $3,000 in CD’s
JASON CULVER & TODD MULLINER – NEDCO
Nebraska Economic Development Corporation (NEDCO) is the state’s largest certified development company and Nebraska’s premier source for 504 lending.
The SBA 504 Loan Program assists small business owners looking to expand their businesses through the purchase of commercial real estate or capital equipment. NEDCO works in conjunction with lenders to provide up to 90% financing for commercial property purchases and construction. NEDCO provides up to 40% of the total project cost with a 10 or 20 year loan, which has a fixed rate of interest for the life of the loan. The lender finances 50% of the project and the borrower puts down as little as 10% equity into the project. The program provides access to public money that is not readily available to the common business.
Some of the permitted uses of 504 loans include:
- Acquisition of vacant land for construction of a building
- Acquisition of land and building
- Leasehold improvements
- Renovation of or addition to a building
- Construction of a building
- Acquisition of a commercial fishing vessel or party boat
- Acquisition of heavy duty machinery or equipment (such as a printing press)
- Associated soft costs: title searches and insurance, appraisals, environmental reports, architects, permits, surveys, installation of machinery, points on bridge loans, a small amount of furniture and fixtures, etc.
NEDCO helps the borrower through the application process for submission to the SBA. Once funded NEDCO becomes the servicing agent. Rates are very reasonable … historically between 5.54% – 4.78%.
A two year study discovered the program supported the net growth of 54,000 jobs and about $4.6 billion in added labor income on a national scale. Economic multiplier effects from the increase in direct economic activity contributed to the addition of another 66,000 jobs and $4.5 billion in wages and salaries. Additionally, the study found a corresponding increase in federal, state, and local tax revenues that were many times greater than the funding required to administer the program.
The study concluded that in actual dollars invested, the financing provided to small businesses by the 504 loan program through CDCs represented a $94.00 return per dollar of program cost. This program is not only a good investment for the community, but for bankers and borrowers alike. Jason said that their figures show that if you divide the 40% that NEDCO provides by the number 64 it gives you the number of jobs created.
For more information or to submit an online application go to: http://www.nedcoloans.org.
***** Q & A *****
Tim asked how much time is required for the application process. Jason said is around 3 weeks to process and about 3 months to close. The agreement is actually made through the bank at the full 90% and then NEDCO takes on the 40% at closing.
- The next Association meeting is Thursday, August 13th
- THE PIZZA RANCH – 84th & Lexington | 11:30am – 1:00pm
- Speaker: Marc Shkolnick, Manager of Energy Services, LES
- The next Board meeting is Thursday, August 27th | 3:30 – 5:00pm | Lipert residence
Respectfully submitted by Fred Knight
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