PDC 2003 Minutes

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In addition to Jim Pieters, board members present included Jerry Allen, Stewart Whitham, Dorothy Stone, Brett Legg, Dana Siekman, Roni Carr and Keith Forristall. Also present were Maryjo Downey, PDC Administrator, and Terry Blevins, PDC Housing Improvement Program Director.</div> <div> <B>Approval of Minutes</b></div> <div> The Board proceeded with review of the Minutes of the May 28, 2003 meeting. Jerry Allen moved the Minutes be approved as submitted. Roni Carr seconded the motion, which carried unanimously.</div> <div> <B>Financial report</b></div> <div> Only the check register was available for review at the meeting. Jo Downey explained that the combination of holding the meeting earlier than usual and the presence of the auditors in the office during the past week had made it necessary to minimize the report for this meeting. The detailed report will be available at the next Board meeting. </div> <div> For the benefit of Stewart Whitham, new member of the Board representing Kit Carson County, Jo presented a brief summary of the Limon Child Development Center project.</div> <div> Brett Legg moved the payment of the bills totaling $23,765,04 be approved. Dana Siekman seconded the motion, which carried unanimously.</div> <div> <B>2002 Audit</b></div> <div> Due to emergencies among other clients, the auditors were unable to complete work in Stratton until this past week. The audit now is finished, but the written audit report is not yet available.</div> <div> <B>Housing Loan Committee Report</b></div> <div> There was no Housing Loan Committee report.</div> <div> <B>Business Loan Committee Recommendations</b></div> <div> There were no Business Loan Committee recommendations for the Board.</div> <div> <B>Senior Marketing Radio Campaign Extension</b></div> <div> Jo Downey said a poll of eight of the nine PDC Board members resulted in seven being in favor of extending the Senior Marketing Radio Campaign, with one member opposed. The campaign has been extended, she said, but aside from monitoring the response, nothing more is being done pending employment of a new business loan manager.</div> <div> <B>Rack Card Status</b></div> <div> PDC has ordered 50,000 each of the rack cards for Burlington's Old Town, the Kit Carson County Carousel and the Limon Heritage Museum. Payment for the rack cards will come from East Central Council of Local Governments' marketing grant. New rack cards for the Highway 86 corridor are not needed at this time. PDC continues to distribute the old tourism brochure. </div> <div> <B>Enterprise Zone Contribution Projects</b></div> <div> Jo Downey summarized for the Board the developments over the last year regarding reauthorization of community development contribution projects for area enterprise zones. Under the new law, seven contribution projects in Region 5 have been approved, both by the Council of Governments and by the Colorado Economic Development Commission, and are eligible to receive enterprise zone contributions. The most recent projects approved include the Cheyenne County Economic Development project, the Burlington-Morgan Community College meeting facility, the Kit Carson County Carousel, the Limon Heritage Museum, and the Union Pacific Roundhouse Restoration in Hugo. Approved earlier were the Lincoln County Economic Development project and the Simla Good Samaritan Nursing Home. The Simla project is the first enterprise zone project ever approved in Elbert County, and already it has received $16,000 in contributions, Jo said.</div> <div> <B>Web Site Targeted Marketing</b></div> <div> PDC intends to utilize alumni lists from area schools to target non-resident alumni in an e-mail distribution of the Colorado Central Plains Come Home Again promotional material. Jo Downey had no report on this project at the meeting, other than saying collection of names of alumni is on-going. The next step, once the data is gathered, is to schedule a meeting with the web master, who will use the lists to develop e-mail addresses for the promotion.</div> <div> <B>Heritage Tourism Brochure Update</b></div> <div> Jo Downey told the Board that the staff is struggling with this brochure. The consultant has provided layouts, and the proposed brochure looks very good, but Jo said she is not satisfied with the text as it has been developed. She said she hopes to have the final layout and text available for the next PDC Board meeting. Once the final approval is given, the production schedule can be set. </div> <div> <B>County Inserts for Economic Development Brochure</b></div> <div> The typesetting and layout of the county inserts has been completed, Jo said, but the inserts are not yet printed. One thousand copies of each insert will be printed. PDC will retain 500 copies of each one for use in regional marketing, and the rest will be distributed to the local economic development groups for their own promotional activities. Jo said copies of the inserts would be available to Board members within the next couple of weeks. Funds from the Council of Governments' marketing grant will pay for these inserts. </div> <div> <B>Web Site Updates and “Stats”</b></div> <div> <FONT SIZE="3" COLOR="#000000" FACE="Palatino Linotype" >Terry Blevins circulated the </FONT><A HREF="http://www.prairiedevelopment.com" TARGET="_top" TITLE="http://www.prairiedevelopment.com"><U><I><U>www.prairiedevelopment.com</U></I></U></A> <FONT SIZE="3" COLOR="#000000" FACE="Palatino Linotype" >website statistics for June 2003, including the </FONT><A HREF="http://www.comehomeagain.com" TARGET="_top" TITLE="http://www.comehomeagain.com"><U><I><U>www.comehomeagain.com</U></I></U></A><FONT SIZE="3" COLOR="#000000" FACE="Palatino Linotype" > statistics as of July 22. Total sessions on the PDC website were down about 18 percent from May, a decrease that was reflected in most website page reports. The only page showing increased interest over May was the tourism/recreation page.        </FONT></div> <div> <B>PDC “Real Estate” Update</b></div> <div> Jo Downey reported that both PDC apartments in Stratton are rented, one with a renewed one-year lease and the other on a month-to-month basis. Both houses in Cheyenne Wells are rented, as well. One rental began more than a year ago as a lease-purchase, but the purchase was not completed, and both houses now are rented month-to-month. </div> <div> <B>HHH (Hugo Historic House)</b></div> <div> Terry Blevins said the Dickinson House project is “dead in the water” at the moment. After the initial bid opening when it was determined all bids received were much too high, the Board had directed staff to work with the architect and the State Historical Fund to redesign the project to allow its completion in two phases. This redesign has been completed. The next steps are to obtain State Historical Fund approval of a new scope of work based on Phase I, using the present grant, and to obtain State approval to remove the requirement for an historic easement from the present grant, adding it to a future grant. Terry said the easement cannot be granted until the complete project is finished, and the complete project cannot be finished using the present grant. A written request for approval was sent to the State Historical Fund, and a State request for more information was answered about three weeks ago. There has been no response from the State since that time. Terry said the reason for the lack of response is unknown at this time, but as of this meeting, the project already is two weeks late under its revised schedule. </div> <div> <B>Section House Historic Structure Assessment/Local Historic Designation Discussion</b></div> <div> The architects have been working on site, and Jo Downey said the State Historical Fund is allowing the draft pages to be submitted as they are completed to permit on-going review. Hopefully, this fast-tracking of the draft will permit an early acceptance by the State and allow PDC to apply for restoration funds in the October, 2003 cycle. Due to time constraints, it will be necessary to obtain local historic site designation, and Jo said Dorothy Stone will provide the application forms for this designation.</div> <div> <B>RLF Position Hiring Process</b></div> <div> Jim Pieters told the Board that the Business Loan Committee had reviewed nine applications for the Business Loan Manager's position, and had recommended two applicants for interviews. Jo added that there were 25 applications received in response to PDC's advertisements, but the total had been short-listed to nine for the Committee's review since most of the applicants did not have lending experience. She will see if the two candidates slated for interviews are still interested in the position, and if so, she will schedule the interviews. If none of the candidates are suitable or available for the position, the vacancy will be re-advertised. </div> <div> <B>August Meeting Date and Location</b></div> <div> The next meeting of the PDC Board of Directors will be Wednesday, August 27 in Elbert County. Dorothy Stone will make arrangements for a meeting place.</div> <div> <B>Other</b></div> <div> Under “other business,” Jim Pieters asked Board members to report any news from their areas. Roni Carr discussed a new nine-acre subdivision in Elizabeth that will have both residential and commercial uses. Dana Siekman reported on the major Colorado Avenue resurfacing project in Stratton, in the primary business district, and Brett Legg said the old school buildings at Cheyenne Wells had been razed. Jim Pieters stated a Yuma company was at last bringing high speed wireless Internet connections to the Flagler area. </div> <div> <B>Adjournment</b></div> <div> There being no further business for the Board, Jim Pieters declared the meeting adjourned at 8:37 p.m. </div> <bR> <div> <A HREF="#2003_pdc_minutes" TITLE="PDC 2003 Minutes"><U><B><IMG SRC="10532200.gif" border=0 width="50" height="32" ALIGN="BOTTOM" HSPACE="0" VSPACE="0"></b></U></A></div> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <div>  <A NAME="pdc_august_2003"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="1" ALIGN="bottom" WIDTH="1" HSPACE="0" VSPACE="0" ></A></div> <div> <B>  </b></div> <DIV ALIGN="LEFT"></DIV> <div> <B> <A NAME="aug03"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="1" ALIGN="bottom" WIDTH="1" HSPACE="0" VSPACE="0" ></A></b><B>Prairie Development Corporation</b></div> <div> <B>Board of Directors Meeting Minutes</b></div> <div> <B>August 27, 2003</b></div> <bR> <div> <B>Call to Order</b></div> <div> Chairman Jim Pieters called the meeting of the Prairie Development Corporation Board of Directors to order at 7:24 p.m. at the Community First Bank in Kiowa. In addition to Jim Pieters, board members present included Brett E. Legg, Dorothy C. Stone, Roni Carr and Keith Forristall. Staff members present were Maryjo Downey, PDC Administrator, Elwin Boody, Business Loan Manager, and Terry Blevins, PDC Housing Improvement Program Director. Guests included Jim Kenyon with Murphree Colorado CAPCO, LP, and John Reece, CAPCO program manager for the State Office of Economic Development.</div> <div> <B>Introduction of Board and Guests</b></div> <div> Board members and guests were introduced during dinner immediately preceding the meeting.</div> <div> <B>Approval of Minutes</b></div> <div> The Board proceeded with review of the Minutes of the July 23, 2003 meeting. There being no corrections or changes proposed, Jim Pieters declared the Minutes approved as presented.</div> <div> <B>Financial report</b></div> <div> As only the June check register was available for review at the July Board meeting, Jo Downey circulated copies of the June financial report, along with the July financial report and the August 27, 2003 check register listing bills totalling $46,644.75. There being no questions or objections, Jim Pieters declared the reports and payment of the bills would stand as presented.</div> <div> <B>2002 Audit</b></div> <div> Copies of the 2002 audit were circulated to Board members. Jo Downey said the audit report found no errors and contained no recommended changes to PDC's fiscal procedures. </div> <div> <B>Housing Program Report</b></div> <div> Terry Blevins presented a summary of staff-approved emergency repair and home buyer assistance loans, including 03-E53 in Lincoln County; 03-DPA57c (a down payment assistance and closing costs assistance loan) in Lincoln County, 03-JP63 (a Rural Home Loan Partnership [RHLP] loan) in Kit Carson County and 03-JP64 and 03-JP65 (RHLP loan) in Lincoln County.</div> <div> He also told the Board that seven requests for RHLP loans had been received from Rural Development's offices serving this region. If these loans are completed as proposed, it will leave a balance of $12,027.10 available for additional RHLP loans. This fund will increase through loan payment proceeds at the rate of approximately $1,000.00 per month. Terry said completion of these loans will take a month or two, so there is some time to determine whether additional funds can be identified for the continuation of this program.</div> <div> Keith Forristall moved the PDC accept the Housing Program Report as presented. Roni Carr seconded the motion, which carried unanimously.</div> <div> <B>Business Loan Committee Recommendations</b></div> <div> There were no Business Loan Committee recommendations for the Board.</div> <div> <B>Certified Capital Companies (CAPCO) Program</b></div> <div> John Reece, CAPCO Program Manager with the Colorado Office of Economic Development and International Trade, gave a brief history of the CAPCO program in Colorado, and summarized program changes that have been discussed, though not yet adopted. He also described the new look of the department since the recent legislative budget cuts.</div> <div> Jim Kenyon described the program from the investor's point of view. He defined businesses and industries in rural areas such as Colorado's Central Plains as “lifestyle” businesses, saying most businesses in these areas are obtained or developed to provide lifetime employment for the owners or legacies for the owners' heirs. This type of enterprise is not likely to attract CAPCO investments, which are expected to earn a return of at least 25% over a 10-year period. However, as the CAPCO affiliated with Mr. Kenyon is smaller, it is interested in some rural investments, primarily in acquisition of equipment totaling $100,000 or more.</div> <div> <B>Rack Card Status</b></div> <div> Jo Downey circulated color copies of the new rack cards Burlington's Old Town, the Kit Carson County Carousel and the Limon Heritage Museum, all of which reinforce the Colorado's Central Plains marketing theme. There will be 50,000 copies of each rack card printed, payment coming from East Central Council of Local Governments' marketing grant. </div> <div> <B>Business Odyssey Production</b></div> <div> <B>J</b>o Downey reported that $18,000 in Enterprise Zone marketing and other, matching funds will be used to contribute to the Business Odyssey television production which will feature economic development success stories. She said the 5 to 7 minute production will present PDC as a unique participant in local economic development, and will promote the rural roots and lifestyle of Colorado's Central Plains. Scheduled for airing on MSN/NBC,  the  program  will  complement  the  Colorado  Central  Plains  Come Home Again radio campaign. It can be tied into the PDC website, and will leave a real copy-marketing piece for the region's use, once the program has passed.</div> <div> <B>Web Site Targeted Marketing</b></div> <div> There has been no recent progress on PDC's effort to utilize alumni lists from area schools to target non-resident alumni in an e-mail distribution of the Colorado Central Plains Come Home Again promotional material. Jo Downey said there was a hiatus in the project effort during the absence of Elwin Boody, but now that Elwin is back, he will begin working with the webmaster on this project.</div> <div> <B>Heritage Tourism Brochure Update</b></div> <div> Jo Downey briefed those in attendance on the status of the proposed Heritage Tourism Brochure, which has been delayed. The cover concept of an old travel journal, and the general brochure design, have been completed, but work continues in modifying the draft narrative. Inserts representing each tourism attraction will be developed in-house, as time and budget permit, and can be inserted in a brochure pocket, as needed. Jo anticipates the main brochure will be completed and printed by the end of the year.</div> <div> <B>County Inserts for Economic Development Brochure</b></div> <div> One thousand copies of each county insert to be utilized with the new regional economic development brochure have been printed. PDC retained 500 copies of each one for use in regional marketing activities, and the rest will be distributed to the local economic development groups for their own promotional efforts. Funds from the East Central Council of Local Governments' marketing grant and matching funds were used  to pay for these inserts. </div> <div> <B>Web Site Updates and “Stats”</b></div> <div> <FONT SIZE="3" COLOR="#000000" FACE="Palatino Linotype" >Elwin Boody circulated the </FONT><A HREF="http://www.prairiedevelopment.com" TARGET="_top" TITLE="http://www.prairiedevelopment.com"><U><I><U>www.prairiedevelopment.com</U></I></U></A> <FONT SIZE="3" COLOR="#000000" FACE="Palatino Linotype" >website statistics for July 2003, including the </FONT><A HREF="http://www.comehomeagain.com" TARGET="_top" TITLE="http://www.comehomeagain.com"><U><I><U>www.comehomeagain.com</U></I></U></A><FONT SIZE="3" COLOR="#000000" FACE="Palatino Linotype" > statistics. Total sessions on the PDC website were up from a month ago, though still below the sessions reported for May.        </FONT></div> <div> <B>PDC “Real Estate” Update</b></div> <div> There have no changes in the status of PDC's real estate since the last Board meeting. </div> <div> <B>HHH (Hugo Historic House)</b></div> <div> The State Historical Fund responded to PDC's written request for a change in the scope of work for the current grant contract with a verbal assurance that a request for a second grant for this project would not be well-received. Staff and the architects met with a State Historical Fund representative in mid-August and decided to approach the project from a different vantage point. Jo Downey said PDC can add $70,000 to the project budget by using proceeds from the last acquisition and rehab project. However, she said use of those funds will limit sale of  the  house,  upon  completion,  to  low-  to  moderate-income buyers. In addition, it will preclude the use of $70,000 from the sale of the Dickinson House as part of the matching funds used in the Elizabeth Section House project because that house, when completed, will be sold for commercial use, rather than residential. </div> <div> In a further attempt to make the project more affordable, the PDC, the architects and the State Historical Fund will attempt to select an architect for the project who can do the work on a design/build basis, permitting some changes in the work specifications to save costs while at the same time preserving the historic integrity of the structure. Jo asked the Board to approve the use of the $70,000 for this purpose. Keith Forristall made a motion that PDC contribute $70,000 in program income from the last acquisition and rehab project to the construction budget of the Dickinson House project, with the funds returning to use for future acquisition and rehab projects once the house is sold. Dorothy Stone seconded the motion. Under discussion, Jim Pieters made a strong statement in opposition to high-cost preservation of low-value structures, in principle, and to risking funds in this project that were being held for the regular acquisition and rehab program. The motion carried, 3 to 1, with Brett Legg opposed and Jim Pieters not voting.</div> <div> <B>Section House Historic Structure Assessment/Local Historic Designation Discussion</b></div> <div> The Elizabeth Section House has received designation by the Elizabeth Town Board of Trustees as a local historic structure, which gives PDC the basis for seeking State Historical Fund grants for its restoration. The housing structural assessment is about 75 percent complete, and Jo Downey said she still intends to seek the restoration grant in the October application cycle. </div> <div> <B>September Meeting Date and Location</b></div> <div> The next meeting of the PDC Board of Directors will be Wednesday, September 24 at the Hugo Community Building.</div> <div> <B>Other</b></div> <div> There was no other business to come before the Board.</div> <div> <B>Adjournment</b></div> <div> In the absence of further business for the Board, Jim Pieters declared the meeting adjourned at 9:45 p.m. </div> <bR> <div> <A HREF="#2003_pdc_minutes" TITLE="PDC 2003 Minutes"><U><B><IMG SRC="10532200.gif" border=0 width="50" height="32" ALIGN="BOTTOM" HSPACE="0" VSPACE="0"></b></U></A></div> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <div>  <A NAME="september_3_2003_pdc"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="1" ALIGN="bottom" WIDTH="1" HSPACE="0" VSPACE="0" ></A></div> <DIV ALIGN="LEFT"></DIV> <div> <B> <A NAME="sep03"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="1" ALIGN="bottom" WIDTH="1" HSPACE="0" VSPACE="0" ></A></b><B>Prairie Development Corporation</b></div> <div> <B>Board of Directors Meeting Minutes</b></div> <div> <B>September 24, 2003</b></div> <bR> <div> <B>Call to Order</b></div> <div> Chairman Jim Pieters called the meeting of the Prairie Development Corporation Board of Directors to order at 7:30 p.m. at the Hugo Community Building. In addition to Jim Pieters, board members present included Dorothy C. Stone, Roni Carr, Shelley Lofdahl, Dana M. Siekman and Keith Forristall. Staff members present were Maryjo Downey, PDC Administrator, Elwin Boody, Business Loan Manager, and Terry Blevins, PDC Housing Improvement Program Director. </div> <div> <B>Introduction of Board and Guests</b></div> <div> There were no guests present at the meeting.</div> <div> <B>Approval of Minutes</b></div> <div> The Board proceeded with review of the Minutes of the August 27, 2003 meeting. There being no corrections or changes proposed, Jim Pieters declared the Minutes approved as presented.</div> <div> <B>Financial report</b></div> <div> Jo Downey circulated copies of the August financial report, along with the September 24, 2003 check register listing bills totaling $78,579.86. Dorothy Stone moved that the financial report and payment of the bills be approved. Roni Carr seconded the motion, which carried unanimously.</div> <div> <B>Housing Program Report</b></div> <div> There was no housing program report for the Board.</div> <div> <B>Business Loan Committee Recommendations</b></div> <div> There were no Business Loan Committee recommendations for the Board.</div> <div> <B>Enterprise Zone Contribution Brochures</b></div> <div> Jo Downey reported that the brochure describing the uses and benefits of the East Central Enterprise Zone tax credit program has been printed, and includes an insert listing designated contribution projects within the Zone.  There were 2,000 copies of the brochure printed, with 500 copies of the inserts. The inserts will change over time as new contribution projects are added, Jo said. Copies of the brochures have been sent to the various contribution projects for use in their individual marketing efforts. </div> <div> <B>Rack Card Status</b></div> <div> Jo Downey reported that new designs for rack cards for the Kit Carson Carousel, Burlington's Old Town and Limon Heritage Museum have been completed. The Old Town and Heritage Museum rack cards are at the printer's, and the Carousel rack cards are finished and available for use. Later, after all existing cards have been distributed, new rack cards advertising the Highway 86 corridor will be designed to match the others, using East Central Council of Governments marketing grant funds, she said.</div> <div> <B>CDBG Grant Balance</b></div> <div> Jo Downey told the Board that a discussion of the Community Development Block Grant loan fund balance was included on the agenda in the event that a loan request from that fund was considered by the PDC Board at this meeting. That consideration did not occur, however, she informed the Board that the fund balance, at present, is $108,000.</div> <div> <B>Business Odyssey Production</b></div> <div> Jo Downey advised Board members that filming for this region's portion of the Business Odyssey television production will occur October 15, with crews in Limon during the morning and in Elizabeth during the afternoon. This program will feature economic development success stories, and will include a five to seven minute segment presenting PDC as a unique participant in local economic development. Jo said she would send out copies of the program's script to Board members, saying she would like several Board members to participate in the program, along with several of PDC's clients.</div> <div> <B>Web Site Targeted Marketing</b></div> <div> This project is PDC's effort to utilize alumni lists from area schools to target non-resident alumni in an e-mail distribution of the Colorado Central Plains Come Home Again promotional material. Elwin Boody said he has discussed this project with PDC's webmaster, who told him she would begin work on the project. However, there has been no report from the webmaster in the past month.</div> <div> <B>Heritage Tourism Brochure Update</b></div> <div> Jo Downey reported that a number have changes have been made in the proposed Heritage Tourism brochure, including going to an uncoated paper stock and a downgraded cover. She hopes to have a new draft of the text available next month.</div> <div> <B>Web Site Updates and “Stats”</b></div> <div> <FONT SIZE="3" COLOR="#000000" FACE="Palatino Linotype" >Elwin Boody circulated copies of his monthly report on usage of the PDC website,</FONT><I> </I><A HREF="http://www.prairiedevelopment.com" TARGET="_top" TITLE="http://www.prairiedevelopment.com"><U><I><U>www.prairiedevelopment.com</U></I></U></A><FONT SIZE="3" COLOR="#000000" FACE="Palatino Linotype" >. The report showed an overall decrease in the number of sessions at the site, although in August, the number of page views per session and the average time spent per session increased slightly over July.</FONT></div> <div> <FONT SIZE="3" COLOR="#000000" FACE="Palatino Linotype" >Terry Blevins took a moment to describe the new website for the East Central Council of Local Governments,</FONT><I> </I><A HREF="http://www.eccog.com" TARGET="_top" TITLE="http://www.eccog.com"><U><I><U>www.eccog.com</U></I></U></A><FONT SIZE="3" COLOR="#000000" FACE="Palatino Linotype" >. He said the new website describes all services provided by ECCOG staff, including PDC program services, and includes links to the PDC web site. In addition, all Minutes from the meetings of the ECCOG Board of Directors and of the PDC Board of Directors will be posted on this site, which is maintained in-house.</FONT></div> <div> Jo Downey told the Board that ECCOG will send Board agendas and Minutes to persons via e-mail, if requested, or the agendas and Minutes can be accessed at the web site. She said ECCOG maintains a large mailing list for these items, and could save substantial expense in printing and postage costs.</div> <div> <B>PDC “Real Estate” Update</b></div> <div> PDC's “middle” apartment in Stratton was vacated mid-month when the tenant was transferred by his employer out of town, Jo reported. The vacancy has been advertised. There was no news to report about the occupancy of the balance of PDC's properties. Jo said a sewer overflow caused about $1,800 damage to the main office building, as it resulted in extensive clean-up and will require new floor coverings in the damaged area. Some of the effluent went into the basement and damaged records stored there, as well.</div> <div> <B>HHH (Hugo Historic House)</b></div> <div> At a recent meeting, the PDC Board decided to select a contractor who would work with PDC and the architect on a design/build basis, to add additional PDC funds to the project, and to see if the project could then be completed under the available State Historical Fund grant contract. A meeting on-site between the architect and the contractor was held in August, in which the contractor expressed concerns about submitting a revised bid for the project at this time. He pointed to the potential for unanticipated problems during the foundation replacement and structural stabilization phase, which he indicated could cost between $30,000 and $100,000 alone. He requested a time-and-materials contract for that portion of the project, after which he would be prepared to submit a firm bid for the balance of the work. Keith Forristall moved that the project proceed as requested by the contractor, and Shelley Lofdahl seconded the motion. The motion carried 5-0, with Jim Pieters not voting.</div> <div> <B>Section House Historic Structure Assessment/Local Historic Designation Discussion</b></div> <div> Jo Downey reported that the Town of Elizabeth had designated the former Denver & New Orleans Railroad Section House in Elizabeth as a local historic structure, and had signed off on an application for a State Historical Fund restoration grant. She has prepared an application, seeking $200,850 in grant funds to complete this restoration project. Jo said the grant would require local matching funds of $66,000. The application was based on an architect's estimate of the restoration cost, which included a 10% project contingency and a 10% estimate contingency. Shelley Lofdahl moved the application be submitted as written. Roni Carr seconded the motion, which carried unanimously. Jo publicly thanked Dorothy Stone for her efforts in support of this project, which included representing PDC at Elizabeth Town Board meetings and soliciting letters of support for the project. </div> <div> <B>October Meeting Date and Location</b></div> <div> The next meeting of the PDC Board of Directors will be Wednesday, October 22, 2003 at the Hugo Community Building.</div> <div> <B>Other</b></div> <div> Elwin Boody announced a CAPCO (Certified Capital Companies) meeting October 21, from 10:30 a.m. to 1:30 p.m. at the Plains Hotel in Cheyenne Wells. He said he has extended an invitation to all area banks, and he would like to see at least one representative from each bank attend the meeting. Lunch will be provided. Jo Downey said persons working in local economic development or any potential CAPCO entrepreneurs are welcome, as well. All of the CAPCOs are required by the state to participate in this meeting. </div> <div> <B>Adjournment</b></div> <div> In the absence of further business for the Board, Jim Pieters declared the meeting adjourned at 8:17 p.m. </div> <bR> <div> <A HREF="#2003_pdc_minutes" TITLE="PDC 2003 Minutes"><U><B><IMG SRC="10532200.gif" border=0 width="50" height="32" ALIGN="BOTTOM" HSPACE="0" VSPACE="0"></b></U></A></div> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <div>  <A NAME="october_1_2003_pdc"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="1" ALIGN="bottom" WIDTH="1" HSPACE="0" VSPACE="0" ></A></div> <DIV ALIGN="LEFT"></DIV> <div> <B> <A NAME="oct03"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="1" ALIGN="bottom" WIDTH="1" HSPACE="0" VSPACE="0" ></A></b><B>Prairie Development Corporation</b></div> <div> <B>Board of Directors Meeting Minutes</b></div> <div> <B>October 22, 2003</b></div> <bR> <div> <B>Call to Order</b></div> <div> Chairman Jim Pieters called the meeting of the Prairie Development Corporation Board of Directors to order at 6:59 p.m. at the Hugo Community Building. The meeting started earlier than advertised, but as all expected Board members were present, it was decided to proceed and return to earlier agenda items if guests should arrive later in the meeting. In addition to Jim Pieters, board members present included Dorothy C. Stone, Roni Carr, Shelly Lofdahl, Brett Legg, Dana M. Siekman and Keith Forristall. Staff members present were Maryjo Downey, PDC Administrator, Elwin Boody, Business Loan Manager, and Terry Blevins, PDC Housing Improvement Program Director. </div> <div> <B>Introduction of Board and Guests</b></div> <div> There were no guests present at the meeting.</div> <div> <B>Approval of Minutes</b></div> <div> The Board proceeded with review of the Minutes of the September 24, 2003 meeting. Brett Legg moved the Minutes be approved as submitted; Dana Siekman seconded the motion, which carried unanimously.</div> <div> <B>Financial report</b></div> <div> Jo Downey circulated copies of the September financial report, along with the October 22, 2003 check register listing bills totaling $88,868.60. Dana Siekman moved that the financial report and payment of the bills be approved. Shelly Lofdahl seconded the motion, which carried unanimously.</div> <div> <B>Housing Program Report</b></div> <div> Terry Blevins presented the Housing Program Report. Under staff-approved loans, he reported the following: </div> <div> 03-JP66-A Rural Home Loan Partnership project (RHLP) in Lincoln County, household of three, 71% of the county's median income, female head of household, one disabled member. PDC loaned $16,000 at 3.875% interest for 33 years. Rural Development loaned $64,000 at 5.375% interest for 33 years. PDC has the first security position on this loan.</div> <div> 03-JP67-An RHLP project in Kit Carson County, household of six, 57% of the county's median income. PDC loaned $26,200 at 1.00% interest for 33 years. Rural Development loaned $104,800 at 1.00% interest for 33 years (the RD rate is subsidized; the actual note rate is 5.375%). PDC has the first security position on this loan.</div> <div> 03-JP68-An RHLP project in Kit Carson County, household of two, 62% of the county's median income, female head of household. PDC loaned $16,800 at 3.00% interest for 33 years. Rural Development loaned $67,200 at 3.00% interest for 33 years (the RD rate is subsidized; the actual note rate is 5.375%). PDC has the first security position on this loan.</div> <div> 03-JP69-An RHLP project in Kit Carson County, household of three, 66% of the county's median income. PDC loaned $13,600 at 3.00% interest for 33 years. Rural Development loaned $54,400 at 3.00% interest for 33 years (the RD rate is subsidized; the actual note rate is 5.75%). PDC has the first security position on this loan.</div> <div> 03-DPA58-A down payment assistance project in Kit Carson County, household of two, 79% of the county's median income, female head of household, one disabled. PDC loaned $5,743.99 at 3.00% interest for 10 years. High Plains Bank loaned $34,000 at 6.75% interest for 8. The borrower's contribution consisted of earnest money, one year's insurance premium and closing costs.</div> <div> 03-E54-An emergency repair project in Kit Carson County, household of three, 55% of the county's median income, female head of household. This borrower needed assistance with roof repair. PDC loaned $1,999 at 1.00% interest for 10 years. </div> <div> Terry also presented one action item: a long-time borrower who has had several emergency repair loans for her mobile home since the program began, and who has always kept her account current. The present loan has her daughter as co-signer, and because it is greater than $2,000, PDC holds a deed of trust on her property to secure the loan. The outstanding balance is $3,780. The borrower, who is in poor health, is trying to sell her home so that she can move nearer her daughter in a neighboring community. The buyer has been able to borrow a down payment, but PDC's client is planning to carry the balance of the sale price herself. To allow this sale to be completed, PDC's client has asked the Board to release the deed of trust, and has offered to use her car as collateral for the loan, instead. Terry told the Board that the car is an older model and may not be adequate security. He recommended PDC allow an unsecured note in this case.</div> <div> Following discussion, Brett Legg moved the deed of trust be released, but that PDC's client be asked to take a second deed of trust on the property as security for carrying the balance of the note, and assign that second deed of trust to PDC; and that the monthly loan payments be increased to $80. Dana Siekman seconded the motion, which carried unanimously. Keith Forristall then moved to accept the Housing Program Report as presented. Roni Carr seconded the motion, which carried unanimously.</div> <div> <B>Rack Card Status</b></div> <div> Jo Downey had expected to have the final rack cards for Old Town and for the Limon Heritage Museum available to show the Board, but somehow, the proofs never arrived for her review and it wasn't discovered until this week. New proofs must come from Florida, and the review process is starting again this week. Jo said she hopes to have the samples for the Board's review by the November meeting.</div> <div> <B>CAPCO Meeting Report</b></div> <div> CAPCOs (Certified Capital Companies) doing business in Colorado were required to attend a meeting at Cheyenne Wells October 21, along with local economic development and other invited officials. Jo Downey said the meeting was beneficial, and the Cheyenne County economic development people were pleased to host such a meeting locally.</div> <div> Jim Pieters said he believes the CAPCO concept was not designed to work in sparsely populated rural areas such as this region. CAPCO investors are looking for short term, high profit deals, which typically are not found here.  </div> <div> In response to a question from Brett Legg, Jo Downey said more than 20 bills are scheduled to be introduced in the next legislative session to redesign the CAPCO program. PDC staff will follow these bills, and will keep the Board updated on them, she said.</div> <div> A general discussion on the need for equity financing for Eastern Colorado businesses followed. It was a consensus of the Board for members to communicate with their legislative representatives regarding the problems of CAPCOs, as related to Colorado's Central Plains, and possibilities for a different type of program that could prove more beneficial. </div> <div> <B>Business Odyssey Production Update</b></div> <div> Jo Downey said that several Board members, including Dorothy Stone, Roni Carr, Jim Pieters and Keith Forristall, and three sets of PDC clients, were interviewed for the production during filming on October 15 in Limon and in Elizabeth. There will be several script reviews and production steps in the coming weeks, with the project due for completion after the first of the year. This program features economic development success stories, and includes a brief segment presenting PDC as a unique participant in local economic development. Jo said she hopes the video will prove to be a good marketing piece for this region. </div> <div> <B>Web Site Targeted Marketing</b></div> <div> This project is PDC's effort to utilize alumni lists from area schools to target non-resident alumni in an e-mail distribution of the Colorado Central Plains Come Home Again promotional material. Elwin Boody said PDC's webmaster has not yet provided her entire plan for his project. However, Jo Downey said the webmaster's outline suggests the project is more advanced than thought. She said staff will try to have the scope of the project better defined and a more targeted time frame by the November Board meeting.</div> <div> <B>Heritage Tourism Brochure</b></div> <div> Jo Downey reported that the text has been completed. There are many of the old tourism brochures still available to be used, so the concept for this brochure has been changed. It still will be a travel journal, but it is longer with more stories. Due to its added length, the brochure will need to be re-priced. It will be paid from Enterprise Zone marketing grant funds.</div> <div> <B>Web Site Updates and "Stats"</b></div> <div> Elwin Boody circulated copies of his monthly report on usage of the PDC website, <FONT SIZE="3" COLOR="#0000FF" FACE="Palatino Linotype" ><A HREF="http://www.prairiedevelopment.com" TARGET="_top" TITLE="http://www.prairiedevelopment.com"><U><U>www.prairiedevelopment.com</U></U></A></FONT>. The report again showed a decrease in the number of sessions at the site, although the numbers still are higher than they were in the early part of the year. Elwin said offering job opportunities on the site should increase utilization.</div> <div> <B>PDC "Real Estate" Update</b></div> <div> PDC's "middle" apartment in Stratton has been rented with a year's lease. Jo Downey said the apartment was vacant only six days.</div> <div> <B>HHH (Hugo Historic House)</b></div> <div> Jo Downey said there has been little progress regarding this project, as the architects have had a number of other priorities, also. Development of the new drawings and specifications were the priorities for this week, however.</div> <div> <B>Section House </b></div> <div> The application for a State Historical Fund restoration grant for the former Denver & New Orleans Railroad Section House in Elizabeth was submitted the first of this month. Jo Downey said there are a lot of grant requests from across the state in this round of funding. The announcement of grant awards is expected by January 20. </div> <div> <B>November and December Meeting Dates/Locations</b></div> <div> The next meeting of the PDC Board of Directors will be Wednesday, November 19, 2003 at the Claremont Inn in Stratton, times to be announced. There will be no December meeting; if a Loan Committee meeting is necessary, it will be handled by telephone conference call.</div> <div> <B>Other</b></div> <div> There was no other business to come before the Board.</div> <div> <B>Adjournment</b></div> <div> Jim Pieters declared the meeting adjourned at 8:30 p.m. </div> <bR> <div> <A HREF="#2003_pdc_minutes" TITLE="PDC 2003 Minutes"><U><B><IMG SRC="10532200.gif" border=0 width="50" height="32" ALIGN="BOTTOM" HSPACE="0" VSPACE="0"></b></U></A></div> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <div>  <A NAME="november_2003_pdc"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="1" ALIGN="bottom" WIDTH="1" HSPACE="0" VSPACE="0" ></A></div> <DIV ALIGN="LEFT"></DIV> <div> <B> <A NAME="nov03"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="1" ALIGN="bottom" WIDTH="1" HSPACE="0" VSPACE="0" ></A></b><B>Prairie Development Corporation</b></div> <div> <B>Board of Directors Meeting Minutes</b></div> <div> <B>November 19, 2003</b></div> <bR> <div> <B>Call to Order</b></div> <div> Chairman Jim Pieters called the meeting of the Prairie Development Corporation Board of Directors to order at 7:35 p.m. at the Claremont Inn in Stratton, Colorado. In addition to Jim Pieters, board members present included Dorothy C. Stone, Brett E. Legg, Dana M. Siekman, Stewart Whitham, Roni Carr and Keith D. Forristall. Staff members present were Maryjo Downey, PDC Administrator, Elwin Boody, Business Loan Manager, and Terry Blevins, PDC Housing Improvement Program Director. </div> <div> <B>Introduction of Board and Guests</b></div> <div> There were no guests present at the meeting.</div> <div> <B>Approval of Minutes</b></div> <div> The Board proceeded with review of the Minutes of the October 22, 2003 meeting. Dana Siekman moved the Minutes be approved as submitted; Brett Legg seconded the motion, which carried unanimously.</div> <div> <B>Financial report</b></div> <div> Jo Downey told the Board that there was no financial report available at the meeting, as the meeting was held a week early this month.</div> <div> <B>Business Loan Committee Recommendations</b></div> <div> There were no Business Loan Committee recommendations for the Board.</div> <div> <B>Housing Program Report</b></div> <div> There was no housing program report for the Board at this meeting. However, Terry Blevins did advise the Board that PDC has received a copy of the Rural Home Loan Partnership's national 2002 annual report. On page 11 of the report, under the heading “2002 Local CDC Partners,” the East Central Council of Governments and the Prairie Development Corporation are listed among 10 partners in Colorado. CDC stands for “Community Development Corporations.”</div> <div> <B>Rack Card Status</b></div> <div> Jo Downey reported no change in the status of the rack cards. The Kit Carson County Carousel cards are printed; cards for the Limon Heritage Museum and Burlington Old Town are still at the printer's. A delay was caused by a need for some redesign. The cards have been paid for, and Jo said she hopes the cards will be shipped within the next week.</div> <div> <B>Suggested Changes to CAPCO</b></div> <div> Jo Downey complimented Elwin Boody on his proposed changes to the CAPCO program, but she said an proposals should address the need for smaller equity projects in rural areas like Eastern Colorado. Any legislative ideas should be presented to the Office of Economic Development, but Jo said it would  be more effective to have PDC Board members testifying before the legislature than for state or local paid staff members to do it. Brett Legg moved the PDC Board send a letter to the Governor's Office of Economic Development outlining the PDC position on CAPCOs and making recommendations for improvement. Only those Board members approving its language would sign the letter, but a majority of the Board members must approve the letter before it can be sent.  Copies of the letter shall be sent to Colorado legislators. Dana Siekman seconded the motion, which carried unanimously. </div> <div> <B>Business Odyssey Production</b></div> <div> Jo Downey told the Board that a rough draft of the script and the sound bites should be ready for review during the first two weeks of December. The project is scheduled for completion by mid-January.</div> <div> <B>Web Site Targeted Marketing</b></div> <div> Elwin Boody said the Webmaster has obtained e-mail addresses for more than 80 of the 500 alumni on the list obtained from the Arriba-Flagler School District. He said PDC will work with the Flagler economic development group to get additional e-mail addresses and to contact other alumni by letter. </div> <div> <B>Heritage Tourism Brochure</b></div> <div> Jo Downey reported that the brochure has developed into a booklet, but the narrative has been completed. She said she hopes the photographs needed to accompany the text will be available within the next two weeks.</div> <div> <B>Web Site Updates and “Stats”</b></div> <div> Elwin Boody circulated copies of his monthly report on usage of <FONT SIZE="3" COLOR="#0000FF" FACE="Palatino Linotype" ><A HREF="http://www.prairiedevelopment.com" TARGET="_top" TITLE="http://www.prairiedevelopment.com"><U><U>www.prairiedevelopment.com</U></U></A></FONT>, the PDC web site.</div> <div> <B>PDC “Real Estate” Update</b></div> <div> The status of PDC's real estate remains unchanged from October. While PDC no longer owns the Limon Child Development Center building, Jo Downey said she is hopeful that East Central Council of Local Governments will be able to sell that building to the Town of Limon by February, 2004.</div> <div> <B>HHH (Hugo Historic House)</b></div> <div> Terry Blevins reported the revised specs and drawings have been completed by the architects and are presently under review by the staff and the contractor.</div> <div> <B>Section House</b><FONT SIZE="3" COLOR="#006699" FACE="Palatino Linotype" ><B> </b></FONT></div> <div> Jo Downey said the State Historical Fund Advisory Committee will meet December 5 to make recommendations regarding grant funds to the State Historical Society, which will meet in January. Jo said she hopes to know the fate of the Section House grant application before the January, 2004 PDC Board meeting. </div> <div> <B>January Date/Location (no December meeting)</b></div> <div> The next meeting of the PDC Board of Directors will be Wednesday, January 28, 2004 at Hugo, time to be announced. There will be no December meeting; if a Loan Committee meeting is necessary, it will be handled by telephone conference call.</div> <div> <B>Other</b></div> <div> Jo Downey circulated copies of a State Demographer's report discussing economic and population highlights for the Colorado Central Plains region.</div> <div> <B>Adjournment</b></div> <div> There being no other business to come before the Board, Jim Pieters declared the meeting adjourned at 8:22 p.m. </div> <bR> <bR> <div> <A HREF="#2003_pdc_minutes" TITLE="PDC 2003 Minutes"><U><B><IMG SRC="10532200.gif" border=0 width="50" height="32" ALIGN="BOTTOM" HSPACE="0" VSPACE="0"></b></U></A></div> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <div> <U> <A NAME="december_2003_pdc"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="1" ALIGN="bottom" WIDTH="1" HSPACE="0" VSPACE="0" ></A></U></div> <DIV ALIGN="LEFT"></DIV> <div> <B> <A NAME="dec03"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="1" ALIGN="bottom" WIDTH="1" HSPACE="0" VSPACE="0" ></A></b><B>There was no meeting of the </b></div> <div> <B>Prairie Development Corporation</b></div> <div> <B>Board of Directors  in December, 2003.</b></div> <bR> <div> <A HREF="#2003_pdc_minutes" TITLE="PDC 2003 Minutes"><U><B><IMG SRC="10532200.gif" border=0 width="50" height="32" ALIGN="BOTTOM" HSPACE="0" VSPACE="0"></b></U></A></div> <bR> <bR> </td> </tr></table></body>