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L'SC
LOCAL INITIATIVES SUPPORT CORPORATION (LISC)
1825 K Street, N.W., Suite 1100
Washington, DC 20006
FAX
Date:
June 14, 1999
Number of pages including cover sheet:
3
To:
Lisa Green
From:
Stephanie Mathews O'Kecfe
Fax phone: (202) 456-2223
SVP, External Affairs
Phone:
(202) 739-9265
Fax phone: (202) 861-1294
REMARKS:
Urgent
For your review
Reply ASAP
Please comment
Bank one
10'd 67:60 66-41-90
4671 TQQ 707 !'ON VHJ
USA
SC
LOCAL INITIATIVES SUPPORT CORPORATION
for
Green
504 Broadway, Mezzanine Level
Gary, IN 46402
219.881.2341
Fax: 219.881.2343
Abcouwer to chair board of region's premier
community development group
Two new members also join committee
For Immediate Release
Thursday, June 3, 1999
Contact: Carl Jenkins (LISC) 219.881.2341
Bruce Dahltorp (Bank One) 219.738.4130
Northwest Indiana Local Initiatives Support Corporation (LISC), the area's leading
community development support organization, appointed Jim Abcouwer, Senior Vice
President of NiSource, Inc. (parent corporation of NIPSCO), as chairman of its advisory
board.
Abcouwer will replace Bruce Dahltorp, President of the Northwest Indiana Region of
NBD Bank, who has served as chairman since LISC's establishment in Northwest
Indiana in 1990. The group also elected Bob Tonkovich, chief financial officer of
Mercantile National Bank, as vice chairman, and attorney Judith Stanton as secretary.
"I look forward to maintaining an active role on the board knowing that Jim will provide
excellent leadership to the most effective neighborhood revitalization vehicle in the
region," said Dahltorp.
The board also welcomed M. Eileen Brown, Editor of the Post-Tribune, as a new
member. Brown's appointment, along with newcomer Sister Peg Spindler of the
Sojourner Truth House in Gary, fills two vacancies on the 14-member board.
Northwest Indiana LISC provides private-sector funding and technical expertise to
community development corporations (CDCs) to create housing for working families in
Gary, Hammond, and East Chicago neighborhoods. The all-volunteer advisory board,
comprised of business and civic leaders, approves investment proposals and provides
P.02
62:60 66-14-69
1294 198 202 :'ON FAX
0517
FROM:
strategic direction for the program. In the past nine years, LISC has invested more than
$11 million for the development of about 605 homes.
Northwest Indiana LISC is embarking on its most ambitious effort to date with Horace
Mann 2000, a comprehensive redevelopment plan for the Horace Mann Community in
Gary. Working in conjunction with the City of Gary and the Horace Mann Ambridge
Neighborhood Improvement Organization (HMANIO), this effort will begin with the
development of more than 300 new homes for mixed-income families. The development
will establish a model for neighborhood redevelopment in Northwest Indiana.
"We hope HMANIO can break ground before the year is up," said Carl Jenkins, LISC
Program Director. "Horace Mann 2000 will bring new life to one of Gary's most vital
neighborhoods."
Through its 43 program sites across the country, LISC has invested more than $3 billion
to help 1,600 CDCs create more than 93,000 homes since being founded in 1979. The
Northwest Indiana program has provided financing for developments such as the
Madison Avenue Townhomes in Gary, developed and owned by the Broadway Area
Community Development Corporation, and the Cardinal Terrace Apartments in East
Chicago, developed and owned by the Community Reinvestment Project of East
Chicago.
20'd 62:60 66-41-90
1294 198 202 :'ON XAB
0517 EROM:
+
CONLON
312 855-0488
TO: 13126292655
P. 001 005
70 East Lake, Suite 1700
Chicago, IL 60601
(312) 855-8500
(312) 855-0488 fax
Wilhelm and Conlon
Public Strategies
Fax
Fax: (202) 456-5360
To: John Kaplan Pages: From: David 5 Wilhilm/
KAREN
MAT
Phone: (202) 456 - 2223
Date: 6/7/99
Re: PRESIDENT'S POSSIBLE
VISIT TO APPALACHIAN OHIO
CC: Millicent Hodge
Urgent
For Review
Please Comment
Please Reply
Please Recycle
Comments: This fax is intended for the sole use of the recipient and may not be duplicated,
authorized. forwarded or referred to without the authorization of David Withelm, Kevin Conlon or an associate so
ATTACHED HERE IS A COPY OF A
MEMO FROM LYNN GELLERMAN OF BANK ONE
TO SANDERS MILLER AT THE SBA
REGARDING BANK ONE'S INITIATIVES IN
APPALACHAN OHIO, AND A VERY BRIEF/DRAFT
OVERVIEW OF SOME LOCAZ STATISTICS. A
MEMO FROM WILHELMECONCON PUBLIC STRATEGIES
WILL FOLLOW IN THE NEXT HOUR WITH
MORE "ANNOUNCEMENT OPPORTUNITIES", SOME
HISTORICAL CONTEXT, AND CONNECTIONS TO THE
PRESIDENTS NEW MARKETS INITIATIVES d IT'S
VARIOUS COMPONENTS.
FRUM:WILHELM
+
CONLON
312 855-0488
TO: 13126292655
P.002/005
David Wilhelm
From:
Lynn R Gellermann [[email protected]]
Sent:
Friday, June 04, 1999 1:02 PM
To:
[email protected]
Cc:
[email protected]; [email protected]:
[email protected]
Subject:
President's Trade Mission to America
Saunders,
Since our discussion in Dallas, a number of very positive "New Markets" developments have
unfolded in Appalachia. I wanted to follow-up with you on these developments by providing more
specific information, and to again suggest Appalachia - more specifically Athens, OH - as a stop
for the President's Trade Mission to America. The loans, investments and partnerships described
below really cover the "financing continuum" you and I discussed in Dallas, and reflect well on all
involved. Here is a glimpse of what is happening in Appalachia to provide small businesses with
more choices for financing their growth:
Microenterprise: Bank One is ready to close a $600,000 credit facility to Enterprise
Development Corporation (EDC), one of the oldest and most productive microenterprise
development organizations in the country. This will be fourth loan extended by Bank One
under the SBA Microloan Program. Bank One will also be providing EDC with a $45,000
grant to help establish their loan loss reserve account. The closing event is scheduled to
take place in Athens, OH, and could be timed to match the President's schedule.
SBIC: Bank One is getting ready to close on a $5 million investment in DCC Growth Fund, a
holding company which will comprise two drop down SBICs - one debenture SBIC and one
participating securities SBIC. This will be a large national fund with a regional office in Akron,
OH. Bank One and DCC Growth Fund have agreed to an MOU which calls for special efforts
to invest in women and minority owned firms, and to firms located in LMI zones. The timing
of this closing, or announcement of Bank One's investment in this new fund could be made in
Athens during the President's visit as well.
Community Development Venture Capital: Bank One is working with the founding principals
of the Appalachia Ohio Development Fund which will provide equity financing and technical
assistance to small businesses southern Ohio. Wilhelm and Conlon, Ohio University, the
Appalachian Regional Development Commission, Hocking Technical College, Kentucky
Highlands Investment Corporationand ACE-net are all involved in the formation of this new
fund. Although this fund is not yet ready to open for business and a number of details need to
be ironed out. Bank One would be willing to accelerate its investment process and publicly
announce its intent to become a leading investor (for discussion purposes, say $1 million). If
something of this nature could be done in conjunction with the President's visit, it would
generate a lot of enthusiasm and support for this new fund.
Wornen-owned businesses: As you know, Bank One is the lead investor (at $3 million) in
Capital Across America, the first SBIC in the nation to focus on women-owned firms. Capital
Across America is headquartered in nearby Nashville, TN and does serve Ohio. Bank One
would be more than happy to fly Whitney Johns to Athens if this would be something the
Administration and the SBA would like to highlight.
[ These "New Markets" investments by Bank One total nearly $10
million - a figure that will be significantly leveraged by our public
and private partners]
There is a tremendous amount of "money, market and talent" emerging in Appalachia. A visit by
the President and the CEOs accompanying him would help ensure that the enthusiasm and
capital continue to flow. Hopefully, this information will prove helpful as you work with the
+
CONLUN
312 855-0488
TO: 13126292655
P. 003/005
Administration to plan the President's trip. Please let me know if Bank One can be of any further
assistance in bringing the Trade Mission to Appalachia. Have a great weekend!
Lynn Gellermann
Bank One Corporation
614-244-0344
CLOSING THE GAPS in APPALACHIAN OHIO
GAP
NAT'L
RURAL VS. URBAN
APPALACHIA
INCOME
Specific Issues
AVERAGE
Metro
Non-metro
DISTRI-BUTION
Poverty Rate
13.8%
13.2%
15.9%
Ohio (1993): 20.5%
Income Gap
Athens County: 33.3%
*
Very Poor/Distressed
25% of the poorest counties in America are
*
counties
located in Appalachia, where:
Poverty and unemployment are far worse (150%)
than the national average
Income is less than 67% of the nat'l average
Unemployment rate, '972
4.9%
4.9%
5.2%
Ohio (93): 6.5%
CUNLUM +
Job Gap
Appalachian Ohio: 9.2%
*
(unemployment)
5 OH App. Cntys: 11-15%
*
Percent without health
15.6%
(Correlated to above figure of
52% of poor, full
Health Care Gap
insurance coverage
33% of Appalachian counties
time workers
312 855-0488
with average incomes less
33% of those
than 15K, it follows that
earning less than
MORE than 33% of THOSE
$25K
POOR COUNTIES have
only 5% of
citizens that can't get
people earning
coverage)
more than 50K
have difficulty
getting coverage
Health Professional
Appalachian Ohio: 25 out of
TO: 13126292655
*
*
Shortage Areas (HPSAs)
29 counties, over 86%, are
(inadequate access to
gov't designated HPSA's
primary care physicians)
Cancer Deaths per 1000
Ohio: 226.5
deaths ('92)
Appalachian OH: 240.8
I Economic Research Service, US Dept of Agriculture, figures from 95-96: June 26. 1998 Accessed online at www.ccon.ag.gov/epubs/.
2 Ibid.
P. .004/005 005
Av. per capita
$27.50
$13.59
Charitable
breakdown
Contribution
Total Grants, 1996
$296 million for Appalachia, though Pittsburgh received a
Gap³
disproportionate 44% share
% of domestic grants,
4.1% share for Appalachian region does not correspond to
1996
region's 8.2% share of population
Children w/out health cov.
14.6%
23.3% among poor
Child
Child (under 6) poverty
20% (96)
WV: 36.3%
Care/Service Gap
rate
(90-92)
4 of the top 10
counties with
the highest
child poverty
NON.WILAELT T CONLUN
rates are located
in Appalachia
(55-65%)
Educational Attainment
Education Gap
% of adults not
4.7%
Ohio: 8%
finishing 9th grade
App. OH: 12%
*
312 855-0488
Ohio: 42%
% of adults (over 25)
33.8%
App. OH: 36%
finishing highschool
Ohio: 17%
% of adults with a BA
23.8%
App. OH: 10%
or higher degree
Educational Expenditures
OH (91): $4390
($ per pupil)
App OH: $2822
Highschool Dropout rate
4.7%
App OH: 12
TO: 13126292655
counties where
dropout rate
exceeds 33%
P.005/005 P. 005
3 Appalachian Reporter. April-June 1998. Accessed online at www.arc.gov/inforpubs/reporter
[email protected]
06/04/99 05:22:37 PM
Record Type:
Record
To:
[email protected], Lisa Green/OPD/EOP
CC:
[email protected]
Subject: FW: President's Trade Mission to America
I just received this email for your evaluation.
Saunders
202.205.3646
Original Message
From: Lynn R Gellermann mailto:[email protected]
Sent: Friday, June 04, 1999 2:02 PM
To: [email protected]
Cc: [email protected]; [email protected];
[email protected]
Subject: President's Trade Mission to America
Saunders,
Since our discussion in Dallas, a number of very positive "New
Markets" developments have unfolded in Appalachia. I wanted to
follow-up with you on these developments by providing more specific
information, and to again suggest Appalachia - more specifically
Athens, OH - as a stop for the President's Trade Mission to America.
The loans, investments and partnerships described below really cover
the "financing continuum" you and I discussed in Dallas, and reflect
well on all involved. Here is a glimpse of what is happening in
Appalachia to provide small businesses with more choices for
financing their growth:
Microenterprise: Bank One is ready to close a $600,000 credit
facility to Enterprise Development Corporation (EDC), one of the
oldest and most productive microenterprise development
organizations in the country. This will be fourth loan extended
by Bank One under the SBA Microloan Program. Bank One will
also be providing EDC with a $45,000 grant to help establish their
loan loss reserve account. The closing event is scheduled to take
place in Athens, OH, and could be timed to match the President's
schedule.
SBIC: Bank One is getting ready to close on a $5 million
investment in DCC Growth Fund, a holding company which will
comprise two drop down SBICs - one debenture SBIC and one
participating securities SBIC. This will be a large national fund
with a regional office in Akron, OH. Bank One and DCC Growth Fund
have agreed to an MOU which calls for special efforts to invest in
women and minority owned firms, and to firms located in LMI zones.
The timing of this closing. or announcement of Bank One's
investment in this new fund could be made in Athens during the
President's visit as well.
Community Development Venture Capital: Bank One is working with
the founding principals of the Appalachia Ohio Development Fund
which will provide equity financing and technical assistance to
small businesses southern Ohio. Wilhelm and Conlon, Ohio
University, the Appalachian Regional Development Commission,
Hocking Technical College, Kentucky Highlands Investment
Corporationand ACE-net are all involved in the formation of this
new fund. Although this fund is not yet ready to open for business
and a number of details need to be ironed out, Bank One would be
willing to accelerate its investment process and publicly announce
its intent to become a leading investor (for discussion purposes,
say $1 million). If something of this nature could be done in
conjunction with the President's visit, it would generate a lot of
enthusiasm and support for this new fund.
Women-owned businesses: As you know, Bank One is the lead
investor (at $3 million) in Capital Across America, the first SBIC
in the nation to focus on women-owned firms. Capital Across
America is headquartered in nearby Nashville, TN and does serve
Ohio. Bank One would be more than happy to fly Whitney Johns to
Athens if this would be something the Administration and the SBA
would like to highlight.
[ These "New Markets" investments by Bank One total nearly $10
million - a figure that will be significantly leveraged by our public
and private partners]
There is a tremendous amount of "money, market and talent" emerging
in Appalachia. A visit by the President and the CEOs accompanying
him would help ensure that the enthusiasm and capital continue to
flow. Hopefully, this information will prove helpful as you work
with the Administration to plan the President's trip. Please let me
know if Bank One can be of any further assistance in bringing the
Trade Mission to Appalachia. Have a great weekend!
Lynn Gellermann
Bank One Corporation
614-244-0344