PDC 2004 Minutes

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In addition to Jim Pieters, board members present included Dorothy Stone, Dana M. Siekman, Shelly Lofdahl and Keith D. Fomstall. 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 November 19, 2003 meeting. Dana Siekman moved the Minutes be approved as submitted; Keith Forristall seconded the motion, which carried unanimously.</div> <div> <B>Financial report</b></div> <div> Jo Downey told the Board that PDC bills for two months were being reported, since there was no Board meeting in December 2003. Bills for December totaled $42,539.29, and bills for January 2004 totaled $20,850.31. Keith Forristall moved the Board accept the financial report and approve payment of the bills as presented. Dorothy Stone 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>Housing Program Report</b></div> <div> Terry Blevins discussed briefly the home buyer counseling program report that was included in the Board members' packets. According to Penni Fox, certified home buyer counselor, PDC provided services to 46 individuals during 2003. Eleven were PDC home ownership clients, and 35 were clients referred by other lenders.</div> <div> <B>Web Site Targeted Marketing</b></div> <div> Elwin Boody said he has had no response to phone calls to the Webmaster for three weeks. He said he is unable to get statistics or any other information. Jo Downey told the Board that PDC may have to start over on this project; she said PDC is looking for a new Webmaster, and may try to do it in house.</div> <div> <B>EZ Reports</b></div> <div> The Board received copies of the East Central Enterprise Zone Annual Report for 2003. The report includes the Zone's activities compared with its objectives. Jo said the figures reported for Elbert County represent only that portion of the county included in the Enterprise Zone. She said the report gives a good general idea about local economic conditions.</div> <div> <B>Senate Bill 04106</b></div> <div> Jo Downey and Elwin Boody discussed S. B. 04106, which would abolish the next $100 million allocation to the existing CAPCO program and create a new, competitive venture capital program in its place. Jo said the bill was scheduled to come up for third reading on January 29. Although legislators continue to struggle with the definition of "rural," Jo said the proposed new program would be better than the existing program, even with the faults that have been identified.</div> <div> <B>Heritage Tourism Brochure</b></div> <div> Jo Downey told the Board that the brochure still is not completed. There have been a number of delays caused by changes in the design and scope of the brochure. Last year, she said, she agreed to lead a panel composed of Terry Blevins, Brian Hawkins and another individual who was the graphic artist on this project, in a discussion of the brochure and heritage tourism at Colorado Preservation Inc.'s annual historic preservation conference in Denver in February. She said Terry's portion of the presentation will be in the form of a PowerPoint slide presentation showing the photos selected and rejected, with a hint of the historic journey to be depicted in the brochure. Brian Hawkins will describe the transformation of the brochure from three panels to 22 panels. After the brochure is published, Jo said, the East Central Council of Local Governments will invite all of the region's heritage tourism sites to discuss how they can work together to market their attractions and spin off each other. They also will have input into the inserts to be developed for the pocket on the inside of the brochure's back cover.</div> <div> Terry then presented his PowerPoint show for the Board.</div> <div> <B>Child Care Center Sale</b></div> <div> Jo Downey told the Board that USDA Rural Development has approved a $300,000 loan to the Town of Limon to help purchase the Limon Child Development Center from the East Central Council of Local Governments. The loan would be repaid over 40 years at 4 percent interest, she said, and the state RD office has forwarded the commitment letter to the federal office in Washington, D. C. The balance of the purchase price, $50,000, will come from Head Start funds, she added. Once the sale is completed, ECCOG will pay off its loan from PDC that was used to purchase the facility earlier.</div> <div> <B>Housing Partnership Fund Allocation</b></div> <div> The Rural Home Loan Partnership program, in which Prairie Development Corporation partners with Rural Development to increase home ownership in local communities, has nearly used all its resources. The PDC fund for this program has about $60,000 remaining, with tentative loan commitments against that total. Jo Downey asked the Board to consider allocation another $100,000 to this program from the proceeds of the sale of the Limon Child Development Center. The Board was in agreement, but decided to wait until the property sale is actually closed.</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" ><I><U>www.prairiedevelopment.com</U></I></FONT>, the PDC web site.</div> <div> <B>PDC "Real Estate" Update</b></div> <div> Jo Downey said the south apartment in Stratton has been vacated, and is being advertised for rent. She said increases in the cost of utilities have resulted in an increase in the rent for that apartment to $500 per month, with utilities included. However, the lease agreement calls for the tenants to pay the balance if the total combined cost of gas and electricity exceeds $200 in any one month.</div> <div> <B>HHH (Hugo Historic House)</b></div> <div> Terry Blevins reported that work is finally underway on phase I, stabilization and new foundation for the house. The contractor began work the second week of January, and already has completed about 70 percent of the demolition work necessary to prepare the house for being lifted.</div> <div> <B>Section House</b></div> <div> Jo Downey said the State Historical Fund did not approve PDC's application for restoration funds for the historic Denver & New Orleans Railroad Section House in Elizabeth, but PDC has been encouraged to reapply. She said she is unsure why the application was not funded, but she will be meeting with State Historical Fund staff to determine what is needed to make the project fundable. She anticipates that PDC will be asked to contribute more toward the restoration cost. The next round of applications is due April 1.</div> <div> <B>February Date/Location</b></div> <div> The next meeting of the PDC Board of Directors will be Wednesday, February 25, 2004 at Hugo.</div> <div> <B>Other</b></div> <div> There was no other business. Adjournment There being no other business to come before the Board, Jim Pieters declared the meeting adjourned at 8:57 p.m.</div> <bR> <div> <A HREF="#pdc_2004" TITLE="PDC 2004 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 ALIGN="LEFT"></DIV> <div> <B> <A NAME="feb04"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="1" ALIGN="bottom" WIDTH="1" HSPACE="0" VSPACE="0" ></A></b><FONT SIZE="3" COLOR="#000000" FACE="Palatino Linotype" ><B>Prairie Development Corporation</b></FONT></div> <div> <B>Board of Directors Meeting Minutes</b></div> <div> <B>February 25, 2004</b></div> <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 8:03 p.m. at the Community Building in Hugo, Colorado. In addition to Jim Pieters, board members present included Dorothy Stone, Dana M. Siekman, Shelly Lofdahl, Jerry Alien 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 January 28,2004 meeting. Keith Forristall 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 told the Board that the financial report was not available because the carry forward balances from December had not been provided by the auditor in time for the meeting. However, the list of bills totaling $41,519.12 was presented. Shelly Lofdahl moved the bills be approved for payment. Dorothy Stone seconded the motion, which carried unanimously.</div> <div> <B>Board vacancy</b></div> <div> Jo Downey reported that the Elbert County Commissioners had not appointed a replacement for Roni Carr on the PDC Board of Directors as of yesterday. She also told the Board that she had sent a letter to Stuart Whitham, commenting on his lack of attendance at the meetings. She said she told him that, unless she heard from him differently, she would assume he wished to continue on the board. He did not respond to the letter, so he received the Board packet this month. However, she pointed out, he did not attend the meeting nor contact the office. Keith Forristall moved, and Dana Siekman seconded the motion, that Jo Downey send a letter to the Kit Carson County Commissioners regarding the county's lack of representation on the Board.</div> <div> <B>Business Loan Committee Recommendations</b></div> <div> Jim Pieters told the Board there were two Community Development Block Grant loan fund requests recommended for approval by the Business Loan Committee.</div> <div> The first request was for $150,000, to be repaid with 5.5 percent interest over 10 years. Payments would be approximately $1,627.89, to begin 30 to 45 days after loan closing. PDC would charge a two percent origination fee at closing. Loan funds would be used for land purchase, with funds to be disbursed according to the needs of the project. PDC would require a second lien position on all equipment, furniture, fixtures and accounts, and a second lien position on the building lot in Elbert County. This loan would be contingent upon: written affirmation of a participating bank's loan of $358,900; environmental review; and approval of the PDC loan from the Colorado Office of Economic Development. The loan also would be contingent on the availability of funds from a new CDBG grant. PDC would require quarterly job fulfillment reports for one year. A cash equity investment of $213,500 must be injected into the business on the day of loan closing. Evidence of required insurance must be received at least one week prior to loan closing. The borrowers would give PDC a second deed of trust on their personal residence. PDC would require a corporate resolution requiring two signatures for all capital loans or leases, and PDC would require financial statements to be submitted monthly, and annual tax returns to be submitted within 60 days of the end of each fiscal year. Dorothy Stone moved the loan be approved as recommended, and Shelly Lofdahl seconded the motion. The motion carried, 3 to 2, with Shelly Lofdahl and Jerry Alien opposed.</div> <div> The second request was for $100,000, to be repaid with 5.5 percent interest over 10 years. Payments would be approximately $1,110.21, to begin 30 to 45 days after loan closing. PDC would charge a two percent origination fee at closing. Loan funds would be used for land purchase, with funds to be disbursed according to the needs of the project. PDC would require a second lien position on all equipment, furniture, fixtures and accounts, and a second lien position on the building lot in Lincoln County. This loan would be contingent upon: written affirmation of a participating bank's loan of $308,500, along with a $250,000 Small Business Administration 504 loan; environmental review; and approval of the PDC loan from the Colorado Office of Economic Development. The loan also would be contingent on the availability of funds from a new CDBG grant. PDC would require quarterly job fulfillment reports for one year. A cash equity investment of $213,500 must be injected into the business on the day of loan closing. Evidence of required insurance must be received at least one week prior to loan closing. The borrowers would provide a $50,000 certificate of deposit assigned to PDC, and would also provide their personal guarantees for the loan. PDC would require a corporate resolution requiring two signatures for all capital loans or leases, and PDC would require financial statements to be submitted monthly, and annual tax returns to be submitted within 60 days of the end of each fiscal year. Dana Siekman moved the loan be approved as recommended, and Shelly Lofdahl seconded the motion. The motion carried, 4 to I, with Keith Forristall opposed.</div> <div> <B>Housing Program Report</b></div> <div> Terry Blevins told the Board that there was no housing program report.</div> <div> <B>CDBG Grant Application/Process</b></div> <div> Jo Downey told the Board that the public hearings on this application had been advertised, and would be held March 9. She has already brought the application to the County Commissioners in Elbert, Kit Carson and Lincoln counties, and is scheduled to meet with the Cheyenne County Commissioners February 27. Copies of the completed application will be available for public review in Kit Carson County at the East Central Council of Local Governments office in Stratton, and at the courthouses in Cheyenne Wells, Kiowa and Hugo. Jo also circulated copies of the new low too moderate income guidelines that will be used to determine eligibility for PDC's business and housing loan programs.</div> <div> <B>Rack Cards</b></div> <div> Jo Downey circulated copies of new rack cards for the Limon Heritage Museum, Burlington's Old Town and the Kit Carson County Carousel. New rack cards advertising the Highway 86 route to the Front Range will be printed once current supplies are exhausted. Jerry Alien said he had seen an article about the Kit Carson County Carousel in one of the farm magazines. Jo asked that a copy of the article be forwarded to her.</div> <div> <B>Business Odyssey Production Preview</b></div> <div> Jo Downey said corrections to the production are under way, including removal of duplicated scenes and correcting spellings of names and titles. She hopes to have the final version in time for showing at the March PDC meeting.</div> <div> <B>Web Site Targeted Marketing</b></div> <div> Elwin Boody said this agenda item goes with a later item on web site statistics. He said he was unable to access the stats in time to get a report for the meeting, however, PDC staff has assumed control of the web site from the previous Webmaster, the 02 Group. Jo Downey pointed out that, while PDC has control of the web site, it does not have the list of alumni email addresses that were obtained by 02, so that portion of the "Come Home Again" project will have to be started again. She said 02 had not been paid for doing this work, as no product was received by PDC. Jim Pieters suggested PDC contract with the Arriba-Flagler Alumni Association to do the research again, which he said would also benefit the Flagler economic development group. He will contact the Alumni Association, offering $500 plus hard cost reimbursement to complete this research.</div> <div> <B>Senate Bill 04106</b></div> <div> Jo Downey said it appears this bill has passed and was sent to the Governor for signature. The bill cut the $100 million in half, with none of the money going to CAPCOs. The bill has directed $50 million to a new program with a new, and better, set of rules for use of the funds. The other $50 million has been directed to Cover Colorado.</div> <div> <B>Heritage Tourism Brochure</b></div> <div> The Board was able to see a mockup of the new brochure. Jo Downey said the final photo layouts are nearly completed. She said this brochure will be the piece that will form the basis for a new marketing program. There will be 20,000 copies printed, and once the brochure is available, Jo will schedule a meeting with contacts from local, physical heritage tourism sites to begin "brainstorming" about the next step to be taken. Following PDC's presentation at Colorado Preservation, Inc.'s Saving Places conference in February, a representative of the U. S. Department of Housing and Urban Development encouraged PDC to seek a capacity building grant. This grant, $150,000 over a threeyear period, could be used to help local museums and other heritage tourism groups develop the capacity to remain open on regular schedules. Jo also hopes to request a special marketing grant from the State Economic Development Commission to promote heritage tourism in the Front Range.</div> <div> <B>Child Care Center Lease/Purchase</b></div> <div> Jo Downey told the Board that discussions between the Town of Limon and USDA Rural Development are continuing, but Rural Development has said the town must put up a General Obligation bond for the loan to purchase the Limon Child Development Center, due to the size of the loan. To meet this requirement, the town would have to seek approval from the voters to exceed the Tabor Amendment limitations. As an alternative, she said, the town is considering a lease purchase arrangement.</div> <div> <B>Housing Partnership Fund Balance</b></div> <div> Terry Blevins reminded the Board that about $60,000 remains of the amounts approved by PDC for the Rural Home Loan Partnership program. He said the two Rural Development offices providing housing services in this region have indicated there are enough viable applications pending to utilize this money, including one Elbert County borrower whose project would use about half of the total. Jo Downey again said PDC should wait until the Child Care Center sale is completed before allocating more funds to the RHLP program. An alternative, she added, would be to sell one or both of the manufactured homes in Cheyenne County.</div> <div> <B>Web Site Updates and "Stats"</b></div> <div> This agenda item was covered earlier in the meeting during the discussion of web site marketing.</div> <div> <B>PDC "Real Estate" Update</b></div> <div> Jo Downey stated that an apartment occupied by a Stratton teacher had been vacated, but it was rented again and both apartments are now occupied. Terry Blevins told the Board that tenants in one of the rented units in Cheyenne Wells had been asked to vacate the premises, as there had been rent collection and other problems during the term of the lease. Terry said he believes there will be "serious" cleanup involved at the house, once the tenants are gone.</div> <div> Jim Pieters suggested the vacant unit be sold at auction, "an absolute auction with a minimum bid." He said the bank has used this sale method in other distressed property situations with good success. The money received could then be reallocated to the Rural Home Loan Partnership. Jerry Allen supported this means of disposing of the property. It was the consensus of the Board that the house not be offered again for rental, and that PDC staff investigate possibilities for the property's sale.</div> <div> <B>HHH (Hugo Historic House)</b></div> <div> Terry Blevins told the Board that the Dickinson House has been raised and is sitting on blocks as the contractors begin installing the new foundation. At the completion of this phase, PDC will review costs thus far and available resources to determine whether to contract for the balance of the work at this time. The architect's fees, the demolition costs and the houselifting costs to date total about $50,000, he said.</div> <div> <B>Section House Grant</b></div> <div> Jo Downey said the score sheets pertaining to PDC's recent grant application for funds for restoration of the Section House at Elizabeth had been returned. Most of the comments were good ones, and Jo said she has been unable to determine, for sure, why the project was not approved for funding. One problem may have been the historic structure assessment report, which was completed but had not received state signoff at the time of the grant application. One reviewer felt the Section House project was a "blatant economic development project," so it was suggested PDC reinforce the Section House role in stabilization of Elizabeth's Main Street. Also, more matching funds would help. Jo recommended that PDC determine the likely "afterrestoration" value of the property and add enough matching funds to the original $100,000 purchase price to total that amount. That way, she said, PDC could seek grant funds to pay the balance of the restoration cost without being accused of "making money" on the project when it's sold. However, she said PDC has been encouraged to reapply for funds, and that application is scheduled to be submitted in the April round of funding.</div> <div> <B>March Date/Location</b></div> <div> The next meeting of the PDC Board of Directors will be Wednesday, March 24, 2004 at Limon.</div> <div> <B>Other</b></div> <div> There was no other business to come before the Board.</div> <div> <B>Adjournment</b></div> <div> There being no other business, Jim Pieters declared the meeting adjourned at 9:07 p.m.</div> <bR> <div> <A HREF="#pdc_2004" TITLE="PDC 2004 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> <DIV ALIGN="LEFT"></DIV> <div> <B> <A NAME="march_24_2004"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="1" ALIGN="bottom" WIDTH="1" HSPACE="0" VSPACE="0" ></A></b><FONT SIZE="3" COLOR="#000000" FACE="Palatino Linotype" ><B>Prairie Development Corporation</b></FONT></div> <div> <B>Board of Directors Meeting Minutes</b></div> <div> <B>March 24, 2004</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 7:07 p.m. at the Tyme Square Inn in Limon, Colorado. It was agreed to begin the meeting early, and to reprise any actions taken if guests arrive after 7:30 p.m. In addition to Jim Pieters, board members present included Brett Legg, Dorothy Stone, Dana M. Siekman, Jerry Allen, Dan Troyer 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 February 25, 2004 meeting. Dorothy Stone 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 presented the financial report and the list of bills totaling $62,595.86. Brett Legg moved the financial report be accepted and the bills be approved for payment. Dana Siekman seconded the motion, which carried unanimously.</div> <div> <B>Business Loan Committee Recommendations</b></div> <div> There were no recommendations to come before the Board.</div> <div> <B>Housing Program Report</b></div> <div> There was no housing program report this month.</div> <div> <B>CDBG Grant Application/Process</b></div> <div> Jo Downey told the Board that four public hearings were held, one in each county, but no one came totestify. The purpose of the hearings was to gain public comment on the Community Development Block Grant contract and project now being closed out, and on the proposed new CDBG contract and project.</div> <div> She expects the proposal to be submitted within two weeks, probably requesting an additional $400,000 in loan capital along with 15% to cover administrative costs. Any funds remaining under the existing contract will be deobligated when that contract expires.</div> <div> <B>Business Odyssey Production Preview</b></div> <div> Jo Downey said the final version of the program, the one that will be shown on CNBC, has been received. PDC has several master copies in various formats, and will have copies made for local groups wanting to use the program for their own economic development efforts. The Board watched the corrected program. Jo was directed to purchase 150 copies each of DVD and VHS. Each local economic development group will receive two copies in each format, but can get more if needed. Staff also will investigate uploading the program to the Internet with a link from the PDC website. </div> <div> <B>Web Site Targeted Marketing</b></div> <div> Jim Pieters said he had discussed the possibility of paying the Arriba-Flagler Alumni Association to research its members who do not live within the region and who have e-mail addresses. He did not have a final decision, but the group appeared to be in favor of the project. Jo Downey said he could have the group proceed, and send the list and a bill to PDC for payment.  Elwin said he already had sorted the Flagler alumni who live within the region from those living outside the region. He will provide that information to Jim Pieters, who will get it to the Alumni Association.</div> <div> <B>Heritage Tourism Brochure</b></div> <div> Jo Downey told the Board that the Heritage Tourism Brochure is close to going to press. All final changes have been made, except for the font on the poem. Once the brochures are available, staff will be meeting with representatives from the various attractions around the region to develop a regionwide approach to marketing local historical attractions, and to discuss with them the possibility of obtaining a capacity-building grant from the U. S. Department of Housing and Urban Development (HUD). A web site will be created to feature the Heritage Tourism Brochure, also. The site, <FONT SIZE="3" COLOR="#0000FF" FACE="Palatino Linotype" ><I><U>www.ourjourney.info</U></I></FONT>, will be linked to the PDC web site.  </div> <div> <B>Child Care Center Lease/Purchase</b></div> <div> It now appears that USDA Rural Development is prepared to loan the purchase price for Limon Child Development Center to the nonprofit organization that operates LCDC. It is now anticipated that the sale will take place within the next two months, and once completed, East Central Council of Local Governments will pay off the loan from PDC. PDC will not lose any of the regional funds invested in the project, she said.</div> <div> <B>Web Site Updates and “Stats”</b></div> <div> The PDC web site statistics through February 2004 were reviewed by the Board without discussion.</div> <div> <B>PDC “Real Estate” Update</b></div> <div> Jo Downey stated that both apartments in Stratton are rented, as is one house in Cheyenne Wells. Regarding the other rental unit in Cheyenne Wells, Terry Blevins reported that the tenants had vacated, and the unit was inspected by Terry, along with Jerry Allen. The house was found to be extremely dirty, with lots of debris both inside and outside, and with a large accumulation of animal waste, particularly in the basement. He said three pickup and trailer loads of debris and trash from the premises were taken to the Cheyenne County landfill. The house will need extensive cleaning to eliminate stains and odors before the property can be sold at auction, as decided by the Board in February.</div> <div> <B>HHH (Hugo Historic House)</b></div> <div> Terry Blevins told the Board that the Dickinson House in Hugo is now on its new, block foundation.  Jo Downey added that the archaeologist found no significant materials at the scene when the property was excavated for the new foundation. There was a geological find, however. Terry said the stones used as the original foundation were found to contain fossilized shells and leaves. It's unknown where these stones originated, but Terry believes they probably were shipped from eastern Kansas.  He said the better examples will be saved for display at the local museum. A Hugo improvement group has asked for the balance of the stones to be used in construction of new “Welcome to Hugo” signs at each end of town. </div> <div> <B>Section House Grant </b></div> <div> Dorothy Stone reported that the large tree in the front yard of the Section House won a prestigious tree award, which brought a plaque and a collection of gift certificates with the honor. </div> <div> Jo Downey said the restoration grant proposal is due April 1. In this second application, Jo said she increased the local matching share to $110,000, which would bring PDC's investment in the property to $210.000. She and Dorothy had met with a local realtor, explaining the project, and in the realtor's opinion, the least amount the house would sell for, after restoration, would be $225,000. Jo said this added match amount should greatly enhance the application, which will be accompanied by new letters of support from local, interested parties.</div> <div> <B>April Date/Location</b></div> <div> The next meeting of the PDC Board of Directors will be Wednesday, April 28, 2004 at Elizabeth.</div> <div> <B>Other</b></div> <div> There was no other business to come before the Board.</div> <div> <B>Adjournment</b></div> <div> There being no other business, Jim Pieters declared the meeting adjourned at 8:09 p.m. </div> <bR> <div> <A HREF="#pdc_2004" TITLE="PDC 2004 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> <DIV ALIGN="LEFT"></DIV> <div> <B> <A NAME="april_04"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="1" ALIGN="bottom" WIDTH="1" HSPACE="0" VSPACE="0" ></A></b><FONT SIZE="3" COLOR="#000000" FACE="Palatino Linotype" ><B>Prairie Development Corporation</b></FONT></div> <div> <B>Board of Directors Meeting Minutes</b></div> <div> <B>April 28, 2004</b></div> <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 7:22 p.m. at Smokey Jack's Barbecue in Elizabeth, Colorado. In addition to Jim Pieters, board members present included Brett Legg, Dorothy Stone, Dana M. Siekman, Shelly Lofdahl, Jerry Alien, Dan Troyer and Keith D. Forristall. Staff members present were Maryjo Downey, PDC Administrator, Elwin Boody, PDC 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 Mnintes</b></div> <div> The Board proceeded with review of the Minutes of the March 24,2004 meeting. Brett Legg moved the Minutes be approved as submitted; Jerry Alien seconded the motion, which carried unanimously.</div> <div> <B>Financial report</b></div> <div> Jo Downey presented the financial report and the list of bills totaling $61,416.25. Dana Siekman moved the financial report be accepted and the bills be approved for payment. Shelly Lofilahl seconded the motion, which carried unanimously.   Jo told the Board that the 2003 audit report should be completed, and she hopes to have copies available for the Board at the May meeting.</div> <div> <B>Business Loan Committee Recommendations</b></div> <div> There were no recomnendations to come before the Board.</div> <div> <B>Housing Program Report</b></div> <div> Terry Blevins provided a written report for the Board's consideration. There have been two staff approved Rural Home Loan Partnership loans since the last report:</div> <div> 04JP70---Kit Carson County; qualified for the program at 46% of the county's median income, household of two. PDC loaned $15,085.80 at 1% interest for 33 years. USDA Rural Development loaned $60,343.20 at 1% interest for 33 years.  (The RD rate is subsidized; the actual note rate is 6.125%.) PDC has the first security position on this loan.</div> <div> 04JP71---In Kit Carson County; qualified for the program at 61% of the comity's median income, household of three. PDC loaned $15,285.80 at 3% interest for 33 years. USDA Rural Development loaned $61,143.20 at 3% interest for 33 years, (The RD rate is subsidized; the actual note rote is 6.l25%.) PDC has the first security position on this loan. Terry explained that a lastminute change in occupation for this borrower resulted in a lower household income, and the interest rate had been reduced by l% accordingly.</div> <div> The report also discussed current funding availability for this program, compared with the need suggested by pending applications. Terry said PDC staff still hopes to supplement these funds with proceeds of the sale of the Limon Child Development Center, or of the residence at Cheyenne Wells. Jo Downey told the Board she is very confident that the sale of the LCDC will close within the next 30 days. In addition to providing additional funds for the Rural Home Loan Partnership program, the proceeds of the sale also could be used for additional marketing or heritage tourism projects. Jim Pieters asked the staff to prepare a plan for the proposed use of funds from this sale, for the use of the Board.</div> <div> And finally, the report stated that local USDA Rural Development offices serving the four counties in this region have been moved. We still will have the same RD staff persons serving Cheyenne, Kit Carson and Lincoln counties, but they now will be based out of Wray. Elbert County has been added to the workload of the Greeley office.</div> <div> <B>CDBG Grant Application Status</b></div> <div> Jo Downey told the Board that the new CDBG application has been signed by all four sets of county commissioners and has been sent by certified mail to the state. She hopes to have some indication as to the application's result in time for the next meeting.</div> <div> <B>Business Odyssey Production Copies</b></div> <div> PDC has received 150 VHS tape copies and 150 DVD copies of the Business Odyssey Production's PDC piece. Jo Downey said she brought 45 copies of each for Board members to take and circulate in  their communities as needed.  Eventually, the PDC staff will mail copies to the Chambers of Commerce and local economic development groups within the four counties. The national airing of the complete Business Odyssey program, scheduled for a nighttime showing, was cancelled because CNBC misplaced the master tapes. The show will be rescheduled, and PDC will receive 100 copies of the complete show as reparation for any inconvenience the schedule change may have caused. PDC staff has not had time to add the production to the PDC web site, Jo said.       .</div> <div>  <B>Web Site Targeted Marketing</b></div> <div>  Elwin said the list of Flagler alumni who live outside the region was provided to Jim Pieters, who is  working with the ArribaFlagler School District's Alumni Association. Jim told the Board he hopes to have the Alumni Association working on the project within the next month.  </div> <div> <B>Heritage Tourism Meeting Discussion</b></div> <div> Jo Downey said the brochure is at the priner's.  Once the completed brochures are delivered, PDC staff will get all the parties in the region interested in heritage tourism to meet and discuss a joint marketing program for next season. She asked Board members to provide her with contacts connected with local economic development groups. Chambers of Commerce, historical societies, museum committees, or with any other groups that might benefit from such a marketing program.</div> <div> Jim Pieters declared the ineeting recessed at 7:42 p.m., to reconvene following dinner.</div> <div> Jim Pieters reopened the meeting at 8:06 p.m.</div> <div> <B>Child Care Facility Sale</b></div> <div> JoDowney told the Board that the Limon Child Development Center is to be sold by East Central Council of Local Governments to the nonprofit operator of LCDC.  USDA Rural Development will grant $50,000 to the project, and provide a loan for the balance of the purchase price. Senator Wayne Allard is scheduled to announce the grant in Limon, she said. Jo still believes the sale will take place within the next month, and once completed, ECCOG will pay off its loan from PDC.</div> <div> <B>Web Site Updates and “Stats”</b></div> <div> Elwin Boody told the board that the process in finding a new webrnaster for PDC's web site is under way. PDC's requirements have been provided, and within the next few weeks, Elwin hopes to have a proposal to review. He said he still is unable to access the web site statistics for the Come Home Again link.           .</div> <div> <B>PDC "Real Estate" Update</b></div> <div> The status of the various PDC properties is unchanged from the last report. Regarding the other rental unit in Cheyenne Wells, Terry Blevins reported that cleaning was being completed at the house, and efforts to eliminate the odors of animal waste would include removing much of the existing carpeting.  He said the staff was considering not replacing the carpet, feeling it would not unduly lower the auction sale  price  and   it  would  give  the  buyers  the   opportunity  to   install  the   carpeting  they  prefer.   However,   a general discussion by Board members suggested that existing carpeting in the house might make it easier for buyers to obtain financing.  BrettLegg moved that PDC replace carpeting in the house at 130 W 12 S, Cheyenne Wells, as needed. Dan Troyer seconded the motion, which carried unanimously.</div> <div> <B>HHH (Hugo Historic House)</b></div> <div> Work under the.initial phase of the Dickinson House contract is nearing an end, as the house is on its new foundation, the walls and floors of the house have been straightened and reinforced, and work is beginning on the porch reconstructions. The contractor is willing to continue to work on a time and materials basis. Based on the experience so far, Terry Blevins said he can agree to that, although he believes there should be a "not to exceed" clause in the new agreement for the second phase. The contractor, architect and Terry will be meeting to discuss the future direction of this project. </div> <div> <B>Section House Grant</b></div> <div> Jim Pieters announced for the record that several of the Board members visited the Section House property in Elizabeth to see the property, including the awardwinning tree which was reported at the last meeting.</div> <div> The new grant application for funds to restore the Section House was submitted to the State Historical Fund prior to the April I deadline, Jo Downey said.</div> <div> <B>Other</b></div> <div> <FONT SIZE="3" COLOR="#000000" FACE="Palatino Linotype" >Jo Downey circulated a copies of the new Events Guide proof. She said 14,000 copies of this guide will be printed, and will be distributed at the Colorado Welcome Centers and around the East Central Colorado  region.  The  Events  Guide  also  will  be  posted  on  the  PDC  web  site, </FONT><A HREF="http://www.prairiedevelopment.com" TARGET="_top" TITLE="http://www.prairiedevelopment.com"><U><U>www.prairiedevelopment.com</U></U></A><U> </U></div> <div> Jo also distributed a copy of Annual Enterprise Zone Certification Comparisons, through April, for the past five years. The report showed more businesses claiming Enterprise Zone tax credits in 2004 than in 2003, up by about six percent, but the total tax savings for those credits was down by $66,471, or by 11 percent, for the same period..</div> <div> <B>May Date/Location</b></div> <div> The next meeting of the PDC Board ofDirectorswill be Wednesday, May 26, 2004 at Burlington.</div> <div> <B>Adjournment</b></div> <div> There being no other business, Jim Pieters declared the meeting adjourned at 9:37 p.m.</div> <bR> <div> <A HREF="#pdc_2004" TITLE="PDC 2004 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> <DIV ALIGN="LEFT"></DIV> <div> <B> <A NAME="may_04"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="1" ALIGN="bottom" WIDTH="1" HSPACE="0" VSPACE="0" ></A></b><FONT SIZE="3" COLOR="#000000" FACE="Palatino Linotype" ><B> Prairie Development Corporation</b></FONT></div> <div> <B>Board of Directors Meeting Minutes</b></div> <div> <B>May 26, 2004</b></div> <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 Old Town's Longhorn Saloon, Burlington, Colorado. In addition to Jim Pieters, board members present included Brett Legg, Dorothy Stone, Dana M. Siekman, Shelly Lofdahl, Jerry Allen, Dan Troyer and Keith D. Forristall. Staff members present were Maryjo Downey, PDC Administrator, Elwin Boody, PDC 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 April 28, 2004 meeting. Jerry Allen moved the Minutes be approved as submitted; Keith Forristall seconded the motion, which carried unanimously.</div> <div> <B>Additions to the Agenda</b></div> <div> Jo Downey asked that two items be added to the agenda: a letter from Colorado Alliance for Microenterprise Initiatives (CAMI), and the Regional Events Guide.</div> <div> <B>Financial report   </b></div> <div> Jo Downey presented the financial report and the list of bills totaling $50,599.96. Dana Siekman moved the financial report be accepted and the bills be approved for payment. Shelly Lofdahl seconded the motion, which carried unanimously.</div> <div> <B>Business Loan Committee Recommendations</b></div> <div> There were no recommendations to come before the Board.</div> <div> <B>Housing Program Report</b></div> <div> There was no Housing Program report at this meeting.</div> <div> <B>CDBG Application Status</b></div> <div> Jo Downey said no word has been received relative to the status of the new Community Development Block Grant application. As of two weeks ago, the state still had no news regarding the 2004 CDBG Discretionary allocations to the state. However, Jo told the Board she anticipates no problems with the new application.</div> <div> <B>Business Odyssey Production Copies</b></div> <div> Jo Downey told the Board that she had one telephone call from a man in California who saw the video and liked it. Jo sent a letter and other information to him in response. She reminded the Board that the primary use of the program, however, would be by local economic development groups in their own presentations. PDC has received copies of the local portion of the program, but the promised copy of the entire Business Odyssey presentation has not arrived.</div> <div> <B>Web Site Targeted Marketing</b></div> <div> A letter dated May 4 was mailed by the Flagler Alumni Association to about 1,800 alumni of the Arriba-Flagler School District, explaining the PDC's “Come Home Again” effort and asking alumni to participate by providing email addresses for use in completing surveys or in providing news of interest related to development of the local economy. Jim Pieters, who has been working with the Alumni Association on behalf of PDC, said he expects to see a response of 100 to 150. Elwin Boody spoke briefly about the new webmaster, saying a variety of formats are being investigated along with other possible changes to the PDC website.  </div> <div> <B>PDC “Real Estate” Update</b></div> <div> As Jo Downey was temporarily away from the meeting, Jim Pieters moved ahead on the agenda to the PDC “Real Estate” Update. Terry Blevins said the rental unit in Cheyenne Wells has been cleaned, and the old carpeting and pad have been removed from the damaged areas. A proposal for new carpeting and pad, along with installation, has been received. Once the carpeting is installed, the house will be ready for the sale. Terry said a proposal also was received for planning grasses on the five lots owned by PDC in this location. The lots were tilled in April to control the weeds, but the weeds already are coming back and need to be mowed or tilled again soon. The proposal called for planting two varieties of grass seed, watering and mowing, until the property is sold. Following discussion, it was the consensus of the board that the planting program not be undertaken, but to keep the weeds mowed until the sale.</div> <div> <B>“Our Journey”/Heritage Tourism </b></div> <div> The “Our Journey” heritage tourism brochure has been printed. Copies were available for the Board members to take back to their communities. Jo Downey said the brochures are designed to attract people to the area's heritage tourism sites, as well as to form the foundation for a local heritage tourism industry capacity-building program. Also based on the brochure is a new website, <FONT SIZE="3" COLOR="#0000FF" FACE="Palatino Linotype" ><A HREF="http://www.ourjourney.info" TARGET="_top" TITLE="http://www.ourjourney.info"><U><U>www.ourjourney.info</U></U></A></FONT>, which will provide information about heritage tourism sites, including prices and ours of operation, as well as other regional stories of historic interest. The “Our Heritage” stories currently at the PDC website, along with others, will be moved to this site. They still can be accessed from the PDC site via a link to <FONT SIZE="3" COLOR="#0000FF" FACE="Palatino Linotype" ><A HREF="http://www.ourjourney.info" TARGET="_top" TITLE="http://www.ourjourney.info"><U><U>www.ourjourney.info</U></U></A></FONT>. Jo thanked the Board for helping identify key persons around the region connected to heritage tourism. Once a complete mailing list is available, invitations will be sent out asking these persons to attend meetings where a regional approach to heritage tourism can be explored. At this point, printed inserts with details about individual attractions can be developed for use in the pockets of the “Our Journey” brochure. </div> <div> <B>Child Care Facility Sale</b></div> <div> Jo Downey said the proposed sale of the Limon Child Development Center building to the local nonprofit organization, which operates in it, should prove to replace PDC's entire cash investment in the project. The property will be sold for $350,000. East Central Council of Local Governments, the present owner, still owes $314,418 on its loan from PDC. In addition, Jo said she will recommend to ECCOG that it reimburse PDC for expenses incurred after the sale, including taxes, insurance and major repairs, which PDC financed because ECCOG had no budget for such expenses. From the sale price, PDC should receive $335,774. This amount should cover PDC's initial investment for the land, PDC's contribution to the construction cost in local matching funds, and the other expenses outlined above. Jo reminded the Board that PDC has received monthly rent/or loan payments on the Limon Child Development Center since it was built, in addition to proceeds to be received after the sale.</div> <div> The sale of the Limon Child Development Center is no closer to completion than it was a month ago, she said, but there are no apparent problems or reasons why the sale will not close eventually.</div> <div> As requested by the Board last month, Jo presented a proposal for the use of some of the sale proceeds during the coming year: $30,000 to match Marketing grant funds used in the development of the heritage tourism program and brochure; $70,000 as additional local match for the State Historical Fund grant being used to restore the Dickinson House in Hugo; and $100,000 for continuation of PDC's participation in USDA Rural Development's Rural Home Loan Partnership program. Jo explained that the “additional match” for the Dickinson House project really will just replace $70,000 previously allocated for the purpose. Use of sale proceeds would give PDC more flexibility in the ultimate sale of the Dickinson House and in the use of the proceeds of that sale for other restoration projects. These uses would leave $135,000 for use in administration and special projects as they come up. Brett Legg moved that PDC accept the staff recommendation regarding the use of proceeds from the sale of the Limon Child Development Center. Shelly Lofdahl seconded the motion, which carried unanimously.</div> <div> <B>Web Site Updates and “Stats”</b></div> <div> In response to a request from East Central Council of Local Governments, staff is collection “point of origin” information relative to visits to the PDC website. Information collected to date shows visits originating worldwide, however, there are gaps in the information that Elwin Boody feels are caused by lack of reporting from some search engines. The available point-of-origin data will be reported at the next PDC Board meeting.</div> <div> <B>HHH (Hugo Historic House)</b></div> <div> Terry Blevins reported that the first phase of the Dickinson  House project, which involved demolition and a new foundation, has been completed. The architect is developing an amendment to the original contract to permit work to go forward under the same terms, i.e. reimbursement for time and materials, but including a project limit. In the interim, the contractor has been working on such “cross-over” pieces of the project as replacement of the back porch and the historic front porch that were removed when  the house was raised.</div> <div> <B>Section House Grant </b></div> <div> Jo Downey said the State Advisory Committee meets in a week to review and make recommendations regarding the State Historical Fund grant applications submitted during the April 1 grant cycle. Funding announcements are expected in July, with project contracts to follow sometime in the fall.</div> <div> <B>Other</b></div> <div> Jo Downey said she had received a letter from the Colorado Alliance for Microenterprise Initiatives (CAMI) explaining the organization's objectives and soliciting PDC's membership. In addition to the capacity building, education and networking benefits that would accrue by membership, Jo said CAMI members also have access to funding sources not available to nonmembers. She recommended PDC become a Practitioner Member with dues at $200. Dan Troyer moved PDC purchase the $200 CAMI membership as recommended. Brett Legg seconded the motion, which carried unanimously.</div> <div> Jo also reported that the region's annual Events Guide was distributed on May 27, to make sure all outlets had a supply prior to Memorial Day. Unfortunately, the printing was not completed in time to send copies home with school children, as was done last year. Jo requested Board members to help circulate remaining copies of the Events Guide, which also will be posted on the PDC Website, once the new webmaster takes over its maintenance.</div> <div> <B>June Date/Location</b></div> <div> The next meeting of the PDC Board of Directors will be Wednesday, June 30, 2004 at Burlington or Stratton.</div> <div> <B>Adjournment</b></div> <div> There being no other business, Jim Pieters declared the meeting adjourned at 8:20 p.m. </div> <bR> <div> <A HREF="#pdc_2004" TITLE="PDC 2004 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> <DIV ALIGN="LEFT"></DIV> <div> <B> <A NAME="june_04_1"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="1" ALIGN="bottom" WIDTH="1" HSPACE="0" VSPACE="0" ></A></b><FONT SIZE="3" COLOR="#000000" FACE="Palatino Linotype" ><B> Prairie Development Corporation</b></FONT></div> <div> <B>Board of Directors Meeting Minutes</b></div> <div> <B>June 30, 2004</b></div> <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 7:33 p.m. at the Golden Prairie Inn at Stratton, Colorado. In addition to Jim Pieters, board members present included Shelly Lofdahl, Jerry Allen, Dan Troyer and Keith D. Forristall. Staff members present were Maryjo Downey, PDC Administrator, Elwin Boody, PDC Business Loan Manager, and Terry Blevins, PDC Housing Improvement Program Director.  </div> <div> <B>Introduction of Board and Guests</b></div> <div> Pete Kjosness, Lincoln County Commissioner, was a guest at the meeting.</div> <div> <B>Approval of Minutes  </b></div> <div> The Board proceeded with review of the Minutes of the May 26, 2004 meeting. Jerry Allen moved the Minutes be approved as submitted; Dan Troyer seconded the motion, which carried unanimously.</div> <div> <B>Financial report   </b></div> <div> Jo Downey presented the financial report and the list of bills totaling $38,682.09. Jerry Allen moved the financial report be accepted and the bills be approved for payment. Keith Forristall seconded the motion, which carried unanimously. </div> <div> Keith did question the size and number of payments to D. A. Divis & Sons, contractors doing the restoration work on the Dickinson House in Hugo, relative to the apparent amount of work accomplished. Jo said the major expense was in raising the house, excavating and installing a new foundation, and she assured the Board that the project was within budget to date. Terry Blevins added that work on the project was further along than was apparent from the street.</div> <div> <B>Audit Report</b></div> <div> The audit report has not yet been submitted, due to the auditor's other commitments relative to the state legislature. Jo Downey said the audit should be available at the next meeting.</div> <div> <B>Business Loan Committee Recommendations</b></div> <div> The Business Loan Committee did not meet due to the lack of a quorum. Committee business will be handled via conference telephone call July 14. Because there appears to be some time constraints regard-ing one of the loan applications, Keith Forristall moved the Board approve the direct loan of approximately  $40,000  for  an  Elbert  County  business,  if approval of the loan is recommended by the</div> <div> Business Loan Committee at the July 14 conference call. Dan Troyer seconded the motion, which carried unanimously.</div> <div> <B>Housing Program Report</b></div> <div> There was no Housing Program report at this meeting.</div> <div> <B>CDBG Application Status</b></div> <div> Elwin Boody reported to the Board that the Community Development Block Grant application for funds to recapitalize the Business Revolving Loan Fund had been approved. However, he said it might take a couple of months for the contracts and environmental work to be finalized so the funds can be released to the Prairie Development Corporation.</div> <div> Jo Downey explained that the shortage of business loans from the previous grant had resulted in administrative expenditures that were above the percentage cap stipulated in PDC's contract with the state. She said $6,710 in administrative expenses should be returned to the state. Jerry Allen moved that the excess administration expenditures be reimbursed to the state. Dan Troyer seconded the motion, which carried unanimously. The new CDBG contract includes a new administrative component for development of new loans under that contract.</div> <div> <B>Web Site Targeted Marketing</b></div> <div> Jim Pieters told the Board that the Flagler Alumni Association mailing has had a good response, although returns continue to trickle in.  A couple of problems have surfaced, however: some hand-written responses are difficult to read, and some email addresses have been submitted with no other identifying information regarding the referenced alumni. Jo Downey said the addresses obtained will be used to create a mailing list for “Come Home Again” marketing materials.</div> <div> <B>Our Journey/Heritage Tourism</b></div> <div> Jo Downey said invitations had been mailed to the region's Heritage attractions and local economic development groups for the four county meetings scheduled to discuss Heritage tourism generally and the possible need for capacity building assistance in the region. Reservations for the meetings have been coming in very slowly, she said, with about a half dozen persons planning to attend the first meeting July 1 in Lincoln County. Jo invited any interested Board members to attend the meetings.</div> <div> Terry Blevins presented a preview of the new Heritage tourism website, <FONT SIZE="3" COLOR="#0000FF" FACE="Palatino Linotype" ><A HREF="http://www.ourjourney.info" TARGET="_top" TITLE="http://www.ourjourney.info"><U><U>www.ourjourney.info</U></U></A></FONT>. The site will include brief overviews of the counties' and region's history, along with photos and specific information about the attractions and other historic photos and feature stories from all four counties.</div> <div> <B>Child Care Facility Sale</b></div> <div> Jo Downey reported that the sale of the Limon Child Development Center from East Central Council of Local Governments to the nonprofit operator, LCD, Inc., is now within the 90-day closing period required by USDA Rural Development, which is providing a combination of grant and loan funds for the sale. Jo said closure awaits completion of a signed purchase contract and receipt of the loan proceeds from RD. She believes the final transfer of ownership will occur within the next 60 days.</div> <div> <B>Web Site Updates and “Stats”</b></div> <div> Elwin Boody reported that the new Webmaster for PDC should have all necessary upgrades to the website completed within a week, and the Business Odyssey video will be posed to the site shortly thereafter.</div> <div> <B>PDC “Real Estate” Update</b></div> <div> Jo Downey stated the status of PDC's real estate is basically unchanged from a month ago, although there appears to be some movement in Cheyenne Wells regarding the two houses owned by PDC there. </div> <div> Terry Blevins told the Board that one house has been rented for some time, occupied by the renter's son and family. Those occupants are purchasing another home for themselves, and the renter is thinking of purchasing PDC's home for herself. Another party has expressed interest in PDC's second house in Cheyenne Wells, now vacant, and Larsen Realty has shown the house. As directed by the Board, Terry has discussed the possibility of selling the house at auction, but the auctioneer, also in the real estate business, has asked for a six-month exclusive listing of the property if it fails to sell at auction. Another concern about the auction idea is the sale price's effect on local property values, if it is low, and especially its effect on the value of the neighboring property being considered by PDC's renter. Following discussion, the Board agreed by consensus to halt the sale of the house in Cheyenne Wells by auction until further notice. Terry will monitor efforts to purchase both houses during the next month and will report to the Board at that time.</div> <div> <B>Stratton Office Building Windows</b></div> <div> PDC owns an office building in Stratton, and rents office space to an insurance company and to East Central Council of Local Governments. The building also includes two apartments that are rented to private individuals. Jo Downey told the Board that the front windows of the building are very large and not energy efficient. Worse, the windows are subject to movement when the wind blows, and there is a concern that the windows could burst in a storm and injure occupants of the building. Jo obtained an estimated cost of replacing the windows with double-paned, double-hung windows from a local contractor. After reviewing the estimate, Board members agreed by consensus to request one or two additional estimates for the work. In addition, Jo was directed to obtain estimates for single-hung windows, as well, and to explore any other options that were available.</div> <div> <B>HHH (Hugo Historic House)</b></div> <div> Terry Blevins reported that the foundation has been replaced, the front and rear porches have been reconstructed, new windows have been installed, and work is now under way on the roof. The old roof has been removed, with new sheeting installed. The contractors are building the framework for the chimneys, which will be rebuilt to match the original chimneys in appearance. However, the new chimneys will be used as roof and plumbing vents, and will not extend through the house to the floor as the original chimneys did. The specifications call for repair of some original siding and replacement of other siding. About 90 percent of the siding to be replaced is completed, and the new siding has been received a coat of primer. It appears that the original wood flooring in the kitchen can be restored, along with the stairs.</div> <div> <B>Section House Grant </b></div> <div> Jo Downey said there is no news regarding the State Historical Fund grant application for restoration of the Section House in Elizabeth. Funding announcements will be made soon, she added.</div> <div> <B>July Date/Location</b></div> <div> The next meeting of the PDC Board of Directors will be Wednesday, July 28, 2004 at Hugo.</div> <div> <B>Other</b></div> <div> There was no other business to come before the Board. There being no other business, Jim Pieters declared the meeting adjourned at 8:58 p.m. </div> <bR> <div> <A HREF="#pdc_2004" TITLE="PDC 2004 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> <DIV ALIGN="LEFT"></DIV> <div> <B> <A NAME="july_04_1"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="1" ALIGN="bottom" WIDTH="1" HSPACE="0" VSPACE="0" ></A></b><FONT SIZE="3" COLOR="#000000" FACE="Palatino Linotype" ><B>Prairie Development Corporation</b></FONT></div> <div> <B>Board of Directors Meeting Minutes</b></div> <div> <B>July 28, 2004</b></div> <div> <B>Call to Order</b></div> <div> Vicechairman Brett Legg called the meeting of the Prairie Development Corporation Board of Directors to order at 7:13 p.m. at the Community Building in Hugo. Colorado. In addition to Brett Legg. board members present included Dorothy Stone, Shelly Lofdahl, Jerry Alien, Dan Troyer and Keith D. Forristall.  Staff members present were Maryjo Downey,  PDC Administrator,  Elwin Boody, PDC Business Loan Manager, and Terry Blevins, PDC Housing Improvement Program Director.</div> <div> <B>Introduction of Board and Guests</b></div> <div> Gary Beedy, Lincoln County Commissioner, was a guest at the meeting.</div> <div> <B>Approval of Minutes</b></div> <div> The Board proceeded with review of the Minutes of the June 30, 2004 meeting. Jerry Alien moved the Minutes be approved as submitted; Keith Forristall seconded the motion, which carried unanimously.</div> <div> <B>Financial report</b></div> <div> Jo Downey presented the financial report and the list of bills totaling $65,257.90. She said the 2003 audit report has not been finished, and the auditor has requested tin extension of time, giving good reasons. She said there will be no additional charge to PDC for the auditor's extra work. Jerry Alien moved the financial report be accepted and the bills be approved for payment. Shelly Lofdahl seconded the motion, which carried unanimously.</div> <div> <B>Business Loan Committee Recommendations</b></div> <div> Brett Legg told the Board that the Business Loan Committee recommended approval of a PDC Direct Loan to a new business in Elbert County, of $40,000 at 5.5% interest, to be repaid over seven years, with a number of conditions and requirements outlined in the loan's appropriate determination. Following discussion. Shelly Lofdahl moved to accept the Committee's recommendation. Dan Troyer seconded the motion, which carried unanimously.</div> <div> <B>Housing Program Report</b></div> <div> Terry Blevins told the Board that several new Rural Home Loan Partnership loans arc anticipated from Rural Development office, including one in Lincoln County and two in Kit Carson County. All three arc expected to close by the end of August.</div> <div> <B>CDBG Grant Contract/Environmental Review Status</b></div> <div> Jo Downey told the Board that the new Community Development Block Grant recapitalizing PDC's revolving business loan fund was still in the contract development stage. She expected the contract to conic to Lincoln County within two weeks, and then the subcontract can be developed. In anticipation of the contract, she said, she has started work on the required environmental reviews and legal publications. Any other activity, however, will have to wait until the contract is executed. Jo pointed out that the funds for the loan just approved would be coming from this contract.</div> <div> <B>Web Site Targeted Marketing</b></div> <div> Elwin Boody reported that he has discussed this effort with a member of lire ArribaFlagler Alumni group who has been working with Jim Pieters on this project. Elwin has a list of names compiled by PDC's former webmaster, the 02 Group, and his contact in Flagler will talk with the Alumni group chairman to determine how to treat the 02generated list of names.</div> <div> <B>"Our Journey''/Heritage Tourism Meetings</b></div> <div> Jo Downey said four "Our Journey"/Heritage Tourism meetings were held in July, one in each county. .She said acceptance of the idea was very positive at all four meetings, and many good ideas were offered. She said she now is developing a summary of the ideas and potential uses for a possible capacitybuilding grant from the U. S. Department of Housing and Urban Development. She will be meeting with Brian Hawkins of B. Hawkins, Inc. next week regarding development of a regional advertising campaign for next year.</div> <div> <B>Child Care Facility Sale</b></div> <div> Jo Downey reported that a sales contract has been executed between East Central Council of Local Governments and the nonprofit group operating the Limon Child Development Center, permitting the sale of the LCDC property to the nonprofit. The sale is scheduled to close at 2:30 p.m. on September 3, 2004.</div> <div> <B>Web Site Updates and "Stats"</b></div> <div> <FONT SIZE="3" COLOR="#000000" FACE="Palatino Linotype" >Elwin Boody provided his web site statistics report, giving number of visitors to the site and to its various .pages through the month of June. He said the site is seeing a decrease in visitors from a year ago, but he reminded the Board that PDC has been changing webmasters and making other improvements to the site. He hopes to see the site running smoothly again in the near future. Jo Downey talked briefly about the </FONT><A HREF="http://www.ourjourney.info" TARGET="_top" TITLE="http://www.ourjourney.info"><U><U>www/ourjourney.info</U></U></A><U> </U><FONT SIZE="3" COLOR="#000000" FACE="Palatino Linotype" > web site, which is being developed to further the goals of the Heritage Tourism project. She said some of the ideas coming from the regional meetings had included development of pages for the various historic sites, as well as other pages which might be of interest to tourists, such as a page dealing with area birdwatching opportunities, or one dealing with tumbleweeds.</FONT></div> <div> <B>PDC "Real Estate" Update</b></div> <div> Terry Blevins said the status of the Cheyenne Wells houses was unchanged. The tenant in the south house still is investigating financing and plans to get an appraisal soon, and may be interested in purchasing the house at that time. Parties interested in renting the north house might be willing to do a leasepurchase agreement: however, he had advised them that the Board's last direction was to sell the property outright. Brett Legg said the parties had discussed the matter with him, and he spoke in favor of letting them move into the house under a leasepurchase agreement. Following discussion by the Board, it was agreed by consensus to enter into a leasepurchase agreement with the interested parties, with  a sales price of $65,000 and with a requirement of the lease that the tenants put in a yard at their own cost.</div> <div> <B>Stratton Office Building Windows</b></div> <div> Jo Downey told the Board that new windows for the office building need not be openable, because the building is air conditioned. She said she would prefer to wait until after tile Limon Child Development Center property sells before seeking detailed window specifications or bona tide bids.</div> <div> <B>HHH (Hugo Historic House)</b></div> <div> Terry Blevins presented a brief slide presentation showing the construction progress on this project. He explained that the contractor is working on a time and materials basis, and is passing along his insurance premiums as a project cost. These coverages are required under the contract and cost between $3,000 and $4,000 per month. This issue and others will likely result in the project being overbudget.  Completion is still expected in time for the September PDC Board meeting.</div> <div> <B>Section House Grant</b></div> <div> Jo Downey said the State Historical Fund had awarded a grant of $150,000 to PDC to help with restoration of the Denver & New Orleans Railroad Section House in Elizabeth A contract lor these funds will be negotiated over the next 45 days, and it's hoped the architect can begin work on the project designs and bid specifications soon.</div> <div> <B>August Meeting Date/Location</b></div> <div> The next meeting of the PDC Board of Directors will be Tuesday, August 24, 2004 at Limon.</div> <div> <B>Other</b></div> <div> Jo Downey reported that PDC Board Chairman Jim Pieters has accepted a seat on the Board of the Crystal Springs Foundation, and due to time constraints, he is resigning his scat on the PDC Board. He lias given his resignation verbally, and a letter of resignation will be submitted to the Kit Carson County Board of Commissioners.</div> <div> There being no other business, Brett Legg declared the meeting adjourned at 8:30 p.m.</div> <bR> <div> <A HREF="#pdc_2004" TITLE="PDC 2004 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> <DIV ALIGN="LEFT"></DIV> <div> <B> <A NAME="aug_04_pdc"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="1" ALIGN="bottom" WIDTH="1" HSPACE="0" VSPACE="0" ></A></b><FONT SIZE="3" COLOR="#000000" FACE="Palatino Linotype" ><B>  Prairie Development Corporation</b></FONT></div> <div> <B>Board of Directors Meeting Minutes</b></div> <div> <B>August 24, 2004</b></div> <bR> <div> <B>Call to Order</b></div> <div> Vice-chairman Brett Legg called the meeting of the Prairie Development Corporation Board of Directors to order at 7:51 p.m. at the First National Bank of Hugo in Limon, Colorado. In addition to Brett Legg, board members present included Dan Troyer, Dana Siekman, Dorothy Stone, Keith Forristall, Shelly Lofdahl and Jerry Allen. Staff members present were Maryjo Downey, PDC Administrator, Elwin Boody, PDC 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.</div> <div> <B>Approval of Minutes  </b></div> <div> The Board proceeded with review of the Minutes of the July 28, 2004 meeting. Dan Troyer 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 presented the financial report and the list of bills totaling $72,765.24. Jerry Allen moved the Board approve the financial report and pay the bills. Keith Forristall seconded the motion, which carried unanimously.</div> <div> <B>Audit Report</b></div> <div> Jo Downey said the 2003 audit report had not been received from Mike May in time for this meeting, and it will be placed on the agenda for the September meeting. </div> <div> <B>Election of Officers</b></div> <div> Jo Downey told the Board that Ed Rarick, a loan officer with High Plains Bank, has been appointed by the Kit Carson County Commissioners to fill the vacancy on the PDC Board left by the resignation of Jim Pieters. There has been no appointment to fill the Elbert County vacancy left by the resignation of Roni Carr, and Jo said she will work with the Elbert County Commissioners at year's end to find a new member to fill the two-year term.</div> <div> As the resignation of Jim Pieters left the office of Board Chairman vacant, Dana Siekman suggested Brett Legg become Chairman.  Shelly Lofdahl moved the nomination of Brett Legg as chairman, and Dan Troyer seconded the nomination. Jerry Allen moved nominations cease and Brett be elected by acclamation; Dana Siekman seconded the motion, which carried unanimously. Dorothy Stone nominated Dana Siekman as vice-chairman, and Shelly Lofdahl seconded the nomination. Dorothy Stone moved that nominations cease and that Dana be elected by acclamaton. Jerry Allen seconded the motion, which carried uanimously.</div> <div> <B>Business Loan Committee Recommendations</b></div> <div> Brett Legg told the Board that the Business Loan Committee recommended approval of a PDC Micro Enterprise Loan to an Elbert County business in the amount of $20,000, with repayment over five years at 5.5 percent interest. PDC will take a first money purchase interest on any equipment or furnishings purchased with the PDC loan, a second lien on all other equipment and furnishings, and a third deed of trust on the applicant's real estate. A number of other conditions were listed, including approval of a participating bank and approval of the Colorado Office of Economic Development. Following discussion, Dorothy Stone moved the Committee's recommendation be accepted. Dana Siekman seconded the motion, which carried 6-1, with Shelly Lofdahl opposed. </div> <div> <B>Housing Program Report</b></div> <div> Terry Blevins presented the Housing Program report, which included the following two staff-approved loans:</div> <div> <B>04-JP72</b>, a Rural Home Loan Partnership loan for a Lincoln County family of three, eligible for the program at 33 percent of the county's median income. PDC loaned $11,000 at 1 percent interest, repaid over 33 years; Rural Development loaned $44,000 at the same terms. PDC has first security position with this loan.</div> <div> <B>04-JP73</b>, a Rural Home Loan Partnership loan for a Kit Carson County individual, eligible for the program at 46 per cent of the county's median income. PDC loaned $15,880 at 1 percent interest, repaid over 33 years; Rural Development loand $63,520 at the same terms. PDC has first security position with this loan.</div> <div> The report also briefly discussed several foreclosure actions that are in progress or pending.  Keith Forristall moved the Housing Program report be accepted. Dana Siekman seconded the motion, which carried unanimously.</div> <div> <B>CDBG Grant Contract/Sub-Contract</b></div> <div> Jo Downey told the Board that the new Community Development Block Grant recapitalizing PDC's revolving business loan fund was approved, but no contract had been received by Lincoln County, to date. She reminded members that Lincoln County applies for the grant on behalf of all four counties in the region, then sub-contracts with Prairie Development Corporation and East Central Council of Local Governments for operation of the loan fund and administration of the grant, respectively. Jo said immediate  access  to  the  funds  is  preferable  and  she  asked the Board to approve entering into a sub-contract with Lincoln County and ECCOG in anticipation of the contract from the state. Dana Siekman moved the Board approve the sub-contract subject to Lincoln County's signing of the CDBG contract with the state. Dan Troyer seconded the motion, which carried unanimously.</div> <div> <B>Web Site Targeted Marketing</b></div> <div> Elwin Boody reported he continues to work with Candace Payne of the Arriba-Flagler School District Alumni Association to achieve the test mailing to alumni for the Come Home Again project. Jo Downey told the Board she will meet with Brian Hawkins of B. Hawkins, Inc. within a couple of weeks to discuss a professionally designed campaign for the mailing.</div> <div> <B>Heritage Tourism Project Status</b></div> <div> Jo Downey circulated a summary developed on the basis of results received from the four county Heritage Tourism meetings held in July. The summary included capacity-building needs for individual heritage sites and museums, capacity building for Colorado Central Plains Heritage Tourism in general, web site page suggestions, and brochure inserts. Jo will be meeting with a representative of the U. S. Department of Housing and Urban Development within the coming weeks regarding development of a HUD capacity-building grant, including potential sources of matching funds. Jo also will be meeting with Brian Hawkins regarding initial research pertaining to potential summer of 2005 print and radio ads. Each museum has been asked to rough out its brochure insert.</div> <div> <B>Child Care Facility Closing</b></div> <div> Jo Downey said Rural Development will be closing its loan to Limon Child Development, Inc. on September 1, and the sale of the Limon Child Development Center by East Central Council of Local Governments to Limon Child Development, Inc. will close September 3.</div> <div> <B>Web Site Updates and “Stats”</b></div> <div> Elwin Boody briefly discussed the <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> web site statistics for July 2004. He said the number of visitors to the site appears to be picking up, which might be due to the summer season, or to the work of the new PDC web master.</div> <div> <B>PDC “Real Estate” Update</b></div> <div> Jo Downey told the Board that, within three days of the July Board meeting, the vacant house in Cheyenne Wells was sold via lease-purchase agreement for $65,000. The Board had agreed to a lease-purchase sale of the house, rather than selling it auction as was previously decided, because of interest from local residents in purchasing it. The two apartments in Stratton are leased, as is the second house in Cheyenne Wells. Terry Blevins said the tenant of that house still is considering purchasing it from PDC. </div> <div> <B>HHH (Hugo Historic House) Update</b></div> <div> Terry Blevins reported that the roof and chimneys are completed, and the interior of the house has been drywalled and taped. Work remaining includes finishes on the walls, floor coverings and finishes, kitchen cabinets, bathroom and light fixtures, and the stair railing. The contractor also will repair the historic sidewalk in front of the house and will re-seed the lawn when construction is finished. The contractor is aware that the Board hopes to meet in the house in September.</div> <div> <B>Section House Grant Contract </b></div> <div> Jo Downey said the State Historic Fund contract for the restoration grant has not been executed yet. Once it has been signed, the architect can begin work on the bid designs and specificatons. </div> <div> <B>September Meeting Date/Location</b></div> <div> The next meeting of the PDC Board of Directors will be Wednesday, September 22, 2004 at the Dickinson House in Hugo.</div> <div> <B>Other </b></div> <div> There being no other business, Brett Legg declared the meeting adjourned at 8:51 p.m. </div> <bR> <div> <A HREF="#pdc_2004" TITLE="PDC 2004 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> <DIV ALIGN="LEFT"></DIV> <div> <B> <A NAME="sept_04_pdc"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="1" ALIGN="bottom" WIDTH="1" HSPACE="0" VSPACE="0" ></A></b><FONT SIZE="3" COLOR="#000000" FACE="Palatino Linotype" ><B>Prairie Development Corporation</b></FONT></div> <div> <B>Board of Directors Meeting Minutes</b></div> <div> <B>September 22, 2004</b></div> <bR> <div> <B>Call to Order</b></div> <div> Chairman Brett Legg called the meeting of the Prairie Development Corporation Board of Directors to order at 7:12 p.m. at the Past and Repast Tea Cottage in the Elizabeth Inn, Elizabeth, Colorado. In addition to Brett Legg, board members present included Ed Rarick, Dan Troyer, Dana Siekman, Dorothy Stone, Keith Forristall, and Jerry Allen. Staff members present were Maryjo Downey, PDC Administrator, Elwin Boody, PDC Business Loan Manager, and Terry Blevins, PDC Housing Improvement Program Director.  </div> <div> <B>Introduction of Board and Guests</b></div> <div> Guests present included Jim Pieters of Flagler, former Board member and past chairman, and Neil White of the United Kingdom, guest of Dorothy Stone.</div> <div> On behalf of Prairie Development Corporation, Brett Legg presented a plaque to Jim Pieters in appreciation for his past service to the Board of Directors.</div> <div> <B>Approval of Minutes  </b></div> <div> The Board proceeded with review of the Minutes of the August 24, 2004 meeting. Dan Troyer 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 presented the financial report and the list of bills totaling $78,754.74. Jo briefly discussed the $1,500 historic easement negotiation fee in connection with the Dickinson House project in Hugo. She said PDC owes $5,000 for the balance of the easement cost. Dana Siekman moved the Board approve the financial report and pay the bills. Jerry Allen seconded the motion, which carried unanimously.</div> <div> <B>Audit Report</b></div> <div> Jo Downey said copies of the 2003 audit report had been mailed to the PDC Board members. The auditor was late in filing PDC's non-profit tax returns, but the $1,600 penalty will be paid by the auditor. Jo said the auditor intends to hire other certified public accountants to assist in his business for the ensuing year, to ensure that such delays do not occur again. Keith Forristall moved the 2003 audit report be accepted. Dan Troyer seconded the motion, which carried unanimously. </div> <div> <B>Business Loan Committee Recommendations</b></div> <div> Brett Legg told the Board that the Business Loan Committee recommended approval of a $40,000 loan guarantee to a Cheyenne County business. This guarantee would be in connection with a $130,000 bank loan, and would be in the form of a certificate of deposit earning 4.0% interest over five years. Dana Siekman moved the loan guarantee request be approved as recommended; Dorothy Stone seconded the motion, which carried 6-0, with Brett Legg abstaining. </div> <div> <B>Housing Program Report</b></div> <div> There was no housing program report to come before the meeting.</div> <div> <B>CDBG Grant Contract/Sub-Contract</b></div> <div> Jo Downey told the Board that the contract has not been issued by the state to Lincoln County yet. She assured the Board that there are no problems with the grant application or the source; there are only clerical delays at the understaffed state agency.</div> <div> <B>Web Site Targeted Marketing</b></div> <div> Jo Downey said she has met with Brian Hawkins regarding this project, and he will be making a proposal on the best way to utilize the email addresses obtained. </div> <div> <B>Heritage Tourism Project Status</b></div> <div> Jo Downey said all of the region's museums were asked to do a rough draft of an insert that could be placed in the "Our Journey" brochure. She hopes to pay for printing of three of the inserts, using grant funds, focusing on those facilities that have regular open hours. Inserts probably will be printed for the Kit Carson Museum, Old Town and the Limon Heritage Museum. Jo also reported on the recent Colorado Preservation, Inc. "On the Road" two-day tour which brought 120 people to Kit Carson and Cheyenne counties recently.</div> <div> <B>Child Care Facility Closing</b></div> <div> The Limon Child Development Center property has been sold to the nonprofit group which has operated it. Jo Downey said the sale closed September 20. She reminded the Board that it previously had voted to utilize the proceeds, in part, for other regional marketing efforts, the Rural Home Loan Partnership program and the John P. Dickinson House project in Hugo.</div> <div> <B>Web Site Updates and "Stats"</b></div> <div> Elwin Boody said he continues to have trouble accessing web site statistics, and he was unable to provide the August numbers for the Board.</div> <div> <B>PDC "Real Estate" Update</b></div> <div> Jo Downey reported that all PDC rental properties are presently occupied, and all tenants are current with their payments.</div> <div> <B>HHH (Hugo Historic House) Update</b></div> <div> Terry Blevins told the Board that the most recent work at the house has involved refinishing the wood flooring in the kitchen and adding new wood flooring to match in the entry hall; cleaning, resizing and installing the old Sears house trim around windows and doors and along baseboards in the house, and stripping and refinishing the stair railing and balusters.</div> <div> <B>Section House Grant Contract </b></div> <div> Jo Downey said there still is no contract for this project from the State Historical Fund. One delay was caused by the need to negotiate the historic easement requirement, but that need has been met, she said. In response to a request from Jo, Dorothy Stone moved the Board chairman and vice-chairman be authorized to sign the contract when it arrives, so that the project won't be delayed further. Dan Troyer seconded the motion, which carried unanimously. </div> <div> <B>October Meeting Date/Location</b></div> <div> The next meeting of the PDC Board of Directors will be Wednesday, October 27, 2004 at the John P. Dickinson house in Hugo.</div> <div> Because of the Thanksgiving holiday, the November meeting will be held Tuesday, November 23 at the Claremont Inn in Stratton. There will be no PDC Board meeting in December.</div> <bR> <div> <B>Other </b></div> <div> There being no other business, Brett Legg declared the meeting adjourned at 7:47 p.m.</div> <bR> <div> <A HREF="#pdc_2004" TITLE="PDC 2004 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> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <DIV ALIGN="LEFT"></DIV> <div> <B> <A NAME="oct_04_pdc"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="1" ALIGN="bottom" WIDTH="1" HSPACE="0" VSPACE="0" ></A></b><FONT SIZE="3" COLOR="#000000" FACE="Palatino Linotype" ><B>Prairie Development Corporation</b></FONT></div> <div> <B>Board of Directors Meeting Minutes</b></div> <div> <B>October 27, 2004</b></div> <bR> <div> <B>Call to Order</b></div> <div> Chairman Brett Legg called the meeting of the Prairie Development Corporation Board of Directors to order at 7:37 p.m. at the Hugo Community Building. In addition to Brett Legg, board members present included Ed Rarick, Shelly Lofdahl, Dan Troyer, Dorothy Stone, Keith Forristall and Jerry Allen. Staff members present were Maryjo Downey, PDC Administrator, Elwin Boody, PDC 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 in attendance.</div> <div> <B>Approval of Minutes  </b></div> <div> The Board proceeded with review of the Minutes of the September 22, 2004 meeting. Jerry Allen moved the Minutes be approved as submitted; Keith Forristall seconded the motion, which carried unanimously.</div> <div> <B>Financial report   </b></div> <div> Jo Downey presented the financial report and the list of bills totaling $101,670.25. Jo explained payments that were connected with the recent sale of the Limon Child Development Center by the East Central Council of Local Governments, and she briefly discussed PDC's dwindling capital, saying the lack of administrative funds connected with other PDC programs is a major contributor. Jerry Allen moved the Board approve the financial report and pay the bills. Ed Rarick seconded the motion, which carried unanimously.</div> <div> <B>Business Loan Committee Recommendations</b></div> <div> There were no Business Loan Committee recommendations to come before the Board.</div> <div> <B>Housing Program Report</b></div> <div> Terry Blevins presented two staff-approved loans for the Board's information:</div> <div> 04-JP74-This Rural Home Loan Partnership project in Kit Carson County involved a PDC loan in the amount of $12,160.00 and a Rural Development loan of $48,640. Repayment terms for both loans were 33 years at 1% interest. PDC has first security position with this loan.</div> <div> 04-JP75-This Rural Home Loan Partnership project in Cheyenne County involved a PDC loan in the amount of $6,300.00 and a Rural Development loan in the amount of $25,200.00. Repayment terms for both loans were 33 years, with the PDC loan earning 4.75% interest and the RD loan earning 6.0% interest. PDC has a first security position with this loan.</div> <div> Terry reported on several foreclosures that are in progress.</div> <div> Shelly Lofdahl moved the Housing Program Report be accepted. Dorothy Stone seconded the motion, which carried unanimously. </div> <div> Terry then presented a housing rehabilitation loan application, #04-R97, from Elbert County. This household qualified for the program at 67% of the county's median income. Following a lengthy discussion of this application, Keith Forristall moved that PDC loan $35,000, with repayment over 10 years, at 6.0% interest, with the loan contingent receipt of a certificate of occupancy from Elbert County by the time the funds are expended. Ed Rarick seconded the motion, which carried unanimously.</div> <div> <B>CDBG Grant Contract/Sub-Contracts</b></div> <div> Jo Downey told the Board that the new CDBG contract was approved, effective October 20, 2004, and additional funds are now available for the business loan programs. </div> <div> <B>Board Selection Process for 2005-2006</b></div> <div> Jo Downey briefed the Board about the makeup and appointment process for PDC Board members. Two members are appointed by each of the four sets of county commissioners, and the ninth member, selected at-large, is appointed by the East Central Council of Local Governments Board of Directors. Appointments are made every two years; the at-large member will be named during the first week of January, and the others will be appointed in mid-January. Jo asked members to let her know if they are interested in seeking reappointment to the PDC Board.</div> <div> <B>Web Site Targeted Marketing</b></div> <div> Jo Downey described this project as "still in limbo," due to a variety of technical issues along with the effort's lower priority compared with other projects. However, she said Brian Hawkins is working to develop an informational package that can be used in conjunction with this market.</div> <div> <B>Heritage Tourism Project Status</b></div> <div> There has likewise been little progress with the Heritage Tourism project, she said. No museums have come forward with suggested marketing inserts for the Heritage Tourism brochure pocket, and the U. S. Department of Housing and Urban Development won't have an application cycle for its capacity-building grants until later in the Spring. She said she has rethought the possibility of a radio marketing campaign because of the large and successful turnout in September for the Colorado Preservation, Inc. On-The-Road  tour  in  this  region.   She credited an article in the <I>Rocky Mountain News</I> with prompting much of that interest. Brian Hawkins now is doing research for next season's Heritage Tourism marketing program, based on print media possibilities.</div> <div> <B>Web Site Updates and "Stats"</b></div> <div> Elwin Boody said he still is trying to work out conflicts and problems connected with reporting visitors to the PDC website. He said he must use two separate sources to arrive at the information, and he hopes to have the reporting mechanisms working properly by the November meeting. Also by that time, he said, the recent "Business Odyssey" video about this region should be streaming on the website.</div> <div> <B>PDC "Real Estate" Update</b></div> <div> Jo Downey reported that all PDC rental properties are presently occupied. However, one of the apartment tenants in Stratton is two months behind in rent payments, and has been sent a certified letter of demand and compliance or possession. Dorothy Stone advised Jo that, in addition to the certified letter, a copy of the notice must be posted on the entrance to the apartment to ensure that the legal requirements are met.</div> <div> <B>HHH (Hugo Historic House) Update</b></div> <div> Jo Downey told the Board that the project is unfinished and there will be additional cost overruns, partly because PDC purchased old doors and trim that needed to be cleaned, re-stained and refitted to this house. She complimented the contractor on his workmanship, and attributed much of the delay to the time-consuming finish work. Following completion, PDC will hold an open house for members of the public wanting to see the house, and likely will begin marketing the property, including Internet advertising.</div> <div> <B>Section House Grant Contract</b> </div> <div> Jo Downey said the contract for the State Historical Fund grant for restoration of the former Denver & New Orleans Railroad Section House at Elizabeth has been executed, and will be effective December 1. The next step in this project will be execution of a contract with the architects so that work can begin on the restoration design and specifications.</div> <div> <B>October Meeting Date/Location</b></div> <div> Because of the Thanksgiving holiday, the November meeting will be held Tuesday, November 23 in Stratton. There will be no PDC Board meeting in December.</div> <div> <B>Other </b></div> <div> There being no other business, Brett Legg declared the meeting adjourned at 7:47 p.m.</div> <bR> <div> <A HREF="#pdc_2004" TITLE="PDC 2004 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> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <DIV ALIGN="LEFT"></DIV> <div> <B> <A NAME="november_2004"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="1" ALIGN="bottom" WIDTH="1" HSPACE="0" VSPACE="0" ></A></b></div> <div> <B>Prairie Development Corporation</b></div> <div> <B>Board of Directors Meeting Minutes</b></div> <div> <B>November 23, 2004</b></div> <div> <B>Call to Order</b></div> <div> Chairman Brett Legg called the meeting of the Prairie Development Corporation Board of Directors to order at 7:53 p.m. at the Claremont Inn in Stratton, Colorado. In addition to Brett Legg, board members present included Dan Troyer, Dana Siekman, Dorothy Stone, Keith Forristall and Ed Rarick. Staff members present were Maryjo Downey, PDC Administrator, Elwin Boody, PDC 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.</div> <div> <B>Approval of Minutes  </b></div> <div> The Board proceeded with review of the Minutes of the October 27, 2004 meeting. Ed Rarick moved the Minutes be approved as submitted; Dan Troyer seconded the motion, which carried unanimously.</div> <div> <B>Financial report   </b></div> <div> Jo Downey presented the check register for November; Dana Seikman moved the Board approve payment of the bills. Ed Rarick seconded the motion, which carried unanimously. Following review of the monthly financial report, Dana moved the financial report be approved. Keith Forristall seconded the motion, which carried unanimously.</div> <div> <B>Business Loan Committee Recommendations</b></div> <div> Brett Legg told the Board that the Business Loan Committee recommended approval of three applications. Following his report:</div> <div> Ed Rarick moved that a previously approved direct loan to a new Elbert County business be increased from $40,000 to $70,000, as recommended by the Business Loan Committee. Dorothy Stone seconded the motion, which carried 5 to 1, with Dana Siekman opposed.</div> <div> Dana Siekman moved that a previously approved direct loan for the purchase of land by an Elbert County business be increased from $80,000 to $100,000, as recommended by the Business Loan Committee. Dorothy Stone seconded the motion, which carried 5 to 1, with Ed Rarick opposed.</div> <div> Dan Troyer moved that a direct loan of $100,000 for an expanded business in Cheyenne County be approved as recommended by the Business Loan Committee. Ed Rarick seconded the motion, which carried 5-0, with Brett Legg abstaining.</div> <div> <B>Housing Program Report</b></div> <div> Terry Blevins presented a request from a Rural Home Loan Partnership borrower in Lincoln County. This borrower is obtaining refinancing of her Rural Development loan, but wants to keep her PDC loan due to the 2% interest rate. Rural Development has advised that this borrower's account came up for review but she failed to return the necessary paperwork. The Board agreed by consensus that the borrower be permitted to continue her loan if she still qualifies by income, although the interest rate may change.</div> <div> In response to a question, Terry briefly discussed the status of the Elbert County housing rehabilitation project approved by the Board in October. He said the borrowers had accepted the terms and conditions attached to the loan by PDC. However, the bids received by the borrowers were approximately 20 percent higher than the available loan funds for the project and work is in temporary abeyance as the borrowers seek a less expensive contractor.</div> <div> <B>Operations Resolution</b></div> <div> Jo Downey told the Board that recent events involving one of PDC's rental apartments brought to light the absence of any written policy that permits PDC staff to act as agents for the corporation in such cases. The Board received a revised copy of the PDC Operations Resolutions, with a new resolution “E” included. Resolution “E” states: “Be it hereby resolved that the Board of Directors of the Prairie Development Corporation directs and empowers the Prairie Development Corporation Administrator and/or the Business Loan Fund Manager and/or the Housing Loan Manager to act as agents of the Corporation in bringing actions at law relative to lease violations involving property owned by Prairie Development Corporation, and/or defaults on loans made by Prairie Development Corporation, and in testifying on behalf of the Corporation in connection with such actions at law.” Dana Siekman moved the Operations Resolutions be approved as amended. Ed Rarick seconded the motion, which carried unanimously.</div> <div> <B>Web Site Targeted Marketing</b></div> <div> Jo Downey circulated an overview of the proposed Colorado's Central Plains “Come Home Again” campaign directed via email to alumni of the region's school alumni. Brian Hawkins of b hawkins inc. who prepared the overview is evaluating companies experienced in creating effective interactive email campaigns and is developing a budget for the project.</div> <div> <B>Enhanced Rural Enterprise Zone Areas-2005 and 2006</b></div> <div> Jo Downey reported that Kit Carson County has been added to the list of Enhanced Rural Enterprise Zone counties for the next two years,   which makes taxpayers in that county eligible to receive increased “new business facility” state income tax credits for job creation. Cheyenne and Lincoln counties, already designated as Enhanced Rural Enterprise Zone counties for the past two years, also continue on the list for 2005 and 2006. That portion of Elbert County in the East Central Enterprise Zone will continue to receive the basic “new business facility” job tax credits ($500 per job) as in the past.</div> <div> <B>Heritage Tourism Project</b></div> <div> Jo Downey said the region's heritage tourism facilities had all expressed support for the new project, but were slow in submitting materials for the brochure inserts. She sent a follow-up letter, asking the museums to submit their information and photos for the inserts. The only response has been from the Cheyenne Wells Jail Museum. A preliminary media plan prepared by Brian Hawkins required revision, and the revised plan will be available December 1. Also, due to the low cost involved, Jo said PDC would be including inserts listing area antique shops and Bed & Breakfast businesses. The information will be beneficial to the heritage tourism sites. Information for these listings would come from local Chamber of Commerce and Economic Development groups. Another insert will include a list of all state and nationally designated historic sites in the region.</div> <div> <B>Web Site Updates and “Stats”</b></div> <div> Elwin Boody told the Board that the monthly web site statistics report is being redesigned, with the redesign being completed by the end of the year. Some information previously included in the report will no longer be available due to the change in servers.</div> <div> <B>PDC “Real Estate” Update</b></div> <div> Jo Downey told the Board that PDC's defaulting renter has moved out of her apartment in Stratton, and her damage deposit has been retained by PDC for cause. She said she has discussed the problems with the former tenant, who has agreed to make payments to PDC until all costs are covered.</div> <div> <B>Dickinson House</b></div> <div> Terry Blevins said the Dickinson House project is completed, except for the “punch list,” work items required by the architect before final payment is approved. He said he would provide a project cost total for the Board at the next meeting. Jo Downey said she hopes the PDC can recover potential losses on this project through “creative marketing” of the property to prospective buyers.</div> <bR> <div> <B>Section House Projected Timeline </b></div> <div> The effective date of the State Historic Fund grant contract for the Section House project is December 1. Jo Downey said a meeting of PDC, State Historic Fund staff and the architects would be held after that date to “walk through” the project and the proposed scope of work. The architects then will complete project designs and bid specifications, and a request for bids will be issued. Jo said she hopes to have the project under construction by May. </div> <div> <B>January Meeting Date/Location</b></div> <div> The next meeting of the PDC Board of Directors will be Wednesday, January 26, 2005 at the Dickinson House in Hugo. There will be no meeting held in December.</div> <div> <B>Other </b></div> <div> There being no other business, Brett Legg declared the meeting adjourned at 9:04 p.m.</div> <bR> <div> <A HREF="#pdc_2004" TITLE="PDC 2004 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 ALIGN="LEFT"></DIV> <div>  <A NAME="december_2004"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="1" ALIGN="bottom" WIDTH="1" HSPACE="0" VSPACE="0" ></A></div> <div> <B>Prairie Development Corporation</b></div> <div> <B>Board of Directors Meeting Minutes</b></div> <div> <B>December 2004</b></div> <div> The Prairie Development Corporation Board of Directors did not meet in December.</div> <bR> <bR> <div> <A HREF="#pdc_2004" TITLE="PDC 2004 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>