July 26, 2017
Seeking business applications for gap financing
For profit businesses with a need for additional financing to complete a capital project, invest in property or equipment, or to shore up their working capital should contact the Red River Regional Council (RRRC). The RRRC, as part of the economic and business development services they provide in Grand Forks, Nelson, Pembina and Walsh counties in North Dakota, operates two revolving loan funds, the Progress Fund and the Revolving Loan Fund (RLF), both of which have money available to loan. Loans can be requested in a range from $10,000 to $100,000 dollars. The funds provide what is referred to as “gap” financing to businesses that have purchases or projects in the works that have received some monetary commitments from primary lenders, but need additional funds to round out the total amount of funding required. According to Dawn Keeley, Executive Director of the RRRC, both funds have been essential to economic and business development in the region. “Since the inception of the funds, we have written 58 loans to businesses that have created 334 jobs in the region,” she said. “Overall, the loan programs have provided over $4.3 million in loans, with more than an additional $59.7 million leveraged from private and other public funds. We encourage any business looking for additional funding for a project or purchase to contact us immediately.” Businesses interested in a loan from this fund are urged to contact Maggie Suda, economic developer at the RRRC 701-352-3550 or maggie@redriverrc.com. Businesses will need to complete an application. All loans are subject to the approval of the RRRC Board of Directors.
June 19, 2017
2016 Annual Reports
The Red River Regional Council (RRRC) released their 2016 annual report in conjunction with the Nelson County Job Development Authority (NCJDA) and Pembina County Job Development Authority (PCJDA) 2016 annual reports. Both the NCJDA and PCJDA contract for professional services with the RRRC. Red River Regional Council 2016 Annual Report Nelson County JDA 2016 Annual Report Pembina County JDA 2016 Annual Report
April 28, 2017
Walsh and Pembina Counties Seeking Applications for Funds for Community Betterment Projects
Walsh and Pembina counties are currently seeking cities interested in funding assistance for community betterment projects. Both Pembina and Walsh counties are accepting applications for projects as part of their Self-Help Programs. There are many ways communities can use these county funds for betterment projects. Examples of projects cities used the funds toward last year include: maintenance and mowing at a city park; baseball diamond repairs; sidewalk and street repairs; Senior Center programs; and City Hall building repair. The main objective is to promote development within communities of Pembina and Walsh counties. The Red River Regional Council manages the program on behalf of the counties. There are four program criteria:
- Requests cannot exceed one-half of the total project cost, nor can the request exceed $1,500.
- The county funds must be matched 1:1. Funds will be released on a reimbursement basis with supporting documentation.
- A copy of a resolution or minutes of the meeting when the applicant authorized the project must be included with the application. The city must include in its minutes that it plans to apply for self-help funds for a specific project.
- Any change in scope of the awarded project or if a City would like to use funds for a different project than awarded, the change must first be approved by the County.
Commissioners in Pembina and Walsh counties recently awarded funds to cities for community betterment projects as part of the ½ Mill “Self-Help” Program. The self-help program is administered by the Red River Regional Council (RRRC) on behalf of the counties. The main objective is to promote development within communities of Pembina and Walsh counties. There are three program criteria:
- ½ Mill requests cannot exceed one-half of the total project cost, nor can the request exceed $1,500.
- The county funds must be matched 1:1. Funds will be released on a reimbursement basis with supporting documentation.
- A copy of a resolution or minutes of the meeting when the applicant authorized the project must be included with the application. The city must include in its minutes that it plans to apply for self-help funds for a specific project.
- Cavalier: City beautification project
- Crystal: Replace sidewalks to comply with ADA requirements
- Drayton: Storm sewer drainage repair project
- Neche: Repair exterior wall of City Hall
- St. Thomas: Continued city beautification project, with concentration on sidewalks
- Adams: Mosquito sprayer/fogger with chemical
- Edinburg: Trimming of trees and shrubs on city property
- Fairdale: Maintenance and mowing of the city park
- Fordville: Updates at Sluke Baseball Field
- Forest River: Cleaning/removing tree pile from June 2016 storm
- Grafton: Assist in covering costs for senior programs at Grafton Senior Citizen Club
- Hoople: Replacement of sidewalks
- Lankin: Costs associated with chip sealing of Main Street
- Minto: Costs to hire contractor to remove trees after June 2016 storm
- Park River: Replace Christmas decorations along city streets
- Pisek: Sidewalk repair on Lovcik Avenue
