Newsletter - The South Eastern Council of Governments

2012 Issue #3
Newsletter
South Eastern Council of Governments, Dakota BUSINESS Finance,
and South Eastern Development Foundation
Phone: (605) 367-5390
Fax: (605) 367-5394
Web: www.secog.org or
www.dakotabusinessfinance.com
Director’s Corner
The South Dakota Housing and Development Authority
(SDHDA) has implemented several new positive changes to
the Governor’s House. Partial excerpts from the press release are listed below. We applaud SDHDA and Governor
Daugaard and his staff for the changes.
INSIDE THIS ISSUE
SAM Route Study Completed………....….2
Recent Funding in SECOG Region……….2

Annual income limits have been increased to $42,280 for
households of one or two people and $48,320 for households
of three or more, in recognition of the ongoing gap in affordable housing.
2013 - 2017 TIP Completed..….………….2
Heyd & Knutson Join SECOG Staff….......2
DBF Annual Awards……………….……..3
DBF & SEDF Approved Loans...............4-8
SDHDA Rate………......................….........9
SECOG Calendar.......................................11
SECOG
EXECUTIVE BOARD
Chairman
Mike Broderick
Vice-Chair
Bruce Odson
Secretary/Treasurer
Reed Ramstad
Executive Director
Lynne Keller Forbes
Board Members:
Sue Aguilar
Kenny Anderson, Jr.
Jeff Barth
Vernon Brown
Ralph Dybdahl
Bill Hansen
Jeff Holcomb
Senator Shantel Krebs
Craig Lloyd
Dennis Olson
Phyllis Packard
Farron Pratt
John Prescott
Bryan Roth
Marvin Schempp
Senator Todd Schlekeway
Jim Schmidt
Kevin Smith
Lyle Van Hove
 School districts in rural communities may now purchase
Governor’s Houses as a tool to recruit and retain quality teachers. The staff living in
these houses DO NOT have to meet the income guidelines listed above. A letter outlining this change was mailed to all of SECOG’s school districts last summer.

Developers will be allowed to purchase Governor’s Houses for rental purposes
when financed under programs that require long term affordable rent limits targeting
low-income families

Private developers will be allowed to purchase a Governor’s House, develop the
lot and foundation, place the home and offer it for sale to qualified buyers. This private industry partnership can make the process of buying a Governor’s House simpler for buyers. Before the rule change, the buyer had to contract separately for the
land, foundation, sidewalks and other site work. Now they can purchase a home that
is ready to move into directly from a builder, if they prefer, which can greatly reduce
not only challenges but also costs to the qualified buyer.
The houses will continue to be constructed by medium-security inmates at the Mike
Durfee State Prison in Springfield, and then moved to home sites across South Dakota. Since it began in 1996, the program has made home ownership a reality for
1,985 South Dakota families. It has also taught a useful trade to thousands of prisoners as they prepare to reenter society.
Governor’s Houses are moderately priced at $35,500 for a two-bedroom, one bath,
1,008-square-foot home which includes delivery to the customer’s site. The houses
are well-built, low-maintenance, energy-efficient alternatives for South Dakotans
with limited means. No tax dollars are spent to build, sell or deliver the Governor's
Houses.
If you have an interest in purchasing a Governor’s House, please contact Betty Gates
at [email protected] or by calling 367-5390.
3
Route Study Completed for SAM
2013-2017 TIP Completed
The Sioux Falls Metropolitan Planning Organization
(MPO), in partnership with the City of Sioux Falls and
Sioux Area Metro (SAM), recently worked with URS Corporation to complete a study on the SAM route system in
Sioux Falls. The purpose of the study was to determine
whether a grid fixed route system could improve service
efficiency over the current hub-and-spoke route system.
Improvements were measured as an increase in the percentage of the city within a ¼ mile walk distance of fixed route
service, a decrease in the average travel time for transit riders, and a decrease in the number of transfers required for
the riders to complete their trips.
The 2013-2017 Transportation Improvement Program (TIP)
has been completed. To see a list of the multi-modal transportation projects planned for the next five years in the Sioux
Falls MPO planning area, visit: http://
www.siouxfallsmpo.org/Planning%20Documents.htm.
The results of the study were that the grid system could not
provide the same or better service than the current hub-andspoke route system unless the transit budget is increased
substantially. The grid system would not cover as much of
the city with even a minimum level of service with existing
resources. Transfers, wait times, and walk distances would
also be greater for a majority of riders than they are with the
current route system. For riders that would experience decreased travel times, their improvement would only be approximately 1/3 of the average travel time increase for riders
experiencing longer travel times. Thus, the benefits did not
outweigh the costs.
As a result, the study was further expanded to include potential improvements that should be made to the route system
as the City continues to grow. Recommendations included
the addition of new routes, and the modification and combination of existing routes. It also included a recommendation
to add three new transfer centers similar to the existing
Southwest Transfer Center on South Louise Avenue. Next
steps will include developing an implementation and action
plan.
Further details on the results of this study can be found in
the Sioux Area Metro Route Analysis posted at: http://
www.siouxfallsmpo.org/Studies&Other%20Projects.htm.
Recent Funding in SECOG Region
Project Sponsor
Sioux Falls
CW SRF Loan
$
12,464,000
Alli Heyd Joins SECOG Staff
Alli Heyd is a new staff member
for Dakota BUSINESS Finance
and the South Eastern Council of
Governments. As the Closing Officer, she will close loans financed
through Dakota BUSINESS Finance and the South Eastern Development Foundation.
Alli has a Bachelor of Arts degree
in English from Concordia College
in Moorhead, MN. Prior to joining
SECOG, she worked as an escrow
officer in the title industry and as a realtor.
Mandi Knutson Joins SECOG Staff
As a Servicing Analyst, Mandi
is responsible for working with
SECOG staff, lenders, and
business owners to service
business loans financed through
Dakota BUSINESS Finance
and the South Eastern Development Foundation. She is also
responsible for liquidation and
post-debenture purchase workouts.
Mandi has a Bachelor of Science degree in Hotel, Restaurant & Hospitality Management with a Business/
Economics Minor from South Dakota State University
in Brookings, SD. Prior to joining SECOG, she worked
in the commercial lending department at a commercial
bank in Minneapolis. She eventually made her way
back to her roots in South Dakota and continued her
career in the commercial lending department at a local
bank.
4
Dakota BUSINESS Finance Annual Awards
2012 Asset Builder: Dakota BUSINESS Finance was
presented with both of the SBA Asset Builder Awards
for being the #1 Loan Volume CDC for SBA 504
loans in South Dakota and #1 Dollar Volume for SBA
504 loans in South Dakota in FFY 2012. Dakota
BUSINESS Finance had 27 approved SBA 504 loans
in South Dakota last year, as well as three loans outside South Dakota. The total economic impact of
these loans totaled over $61 million. The award was
presented by John Brown, SBA District Director. Pictured (left to right), Alli Heyd, staff; Jessica Evans,
staff; John Brown, SBA District Director; Lynne Keller Forbes, Executive Director; and Trisha Viss, staff.
Lender of the Year: The lender that has the highest
number of loans with Dakota BUSINESS Finance approved by SBA in each federal fiscal year is awarded
the “Lender of the Year” award. This year’s winner is
CorTrust Bank.
Friend of Dakota BUSINESS Finance: The “Friend
of Dakota BUSINESS Finance” award was awarded
to Mike Hauck with HJN Team Real Estate. One of
the criteria used in evaluating this award is the number of referrals made to Dakota BUSINESS Finance
this federal fiscal year that were approved by SBA.
Individual Lender of the Year : The individual lender
that has the highest number of loans with Dakota
BUSINESS Finance approved by SBA this federal
fiscal year is awarded the “Individual Lender of the
Year” award. This year’s winner is Tony Nour with
First Premier Bank.
4
Dakota BUSINESS Finance and SEDF Approve Additional Loans
Muller Auto Parts & Service,
Financing Source: Dakota BUSINESS Finance SBA
504 loan program
Purpose: Purchase Building & Remodeling
Community: Beresford
Participating Lender: First Savings Bank
Hilton Garden Inn
Financing Source: Dakota BUSINESS Finance
SBA 504 loan program & SEDF
Purpose: New Construction
Community: Sioux Falls
Participating Lender: Home Federal Bank
Builder’s Millwork & Window
Financing Source: Dakota BUSINESS Finance
SBA 504 loan program
Purpose: Purchase Existing Building
Community: Tea
Participating Lender: CorTrust Bank
Frankman Motor Company
Financing Source: Dakota BUSINESS Finance
SBA 504 loan program
Purpose: Refinance Real Estate Debt
Community: Sioux Falls
Participating Lender: Cortrust Bank
5
Dakota BUSINESS Finance and SEDF Approve Additional Loans
Ameriprise Financial Services
Financing Source: Dakota BUSINESS Finance
SBA 504 loan program
Purpose: Purchase Building & Renovations
Community: Dakota Dunes
Participating Lender: First Bank & Trust
Fonder Sewing Machine Company
Financing Source: Dakota BUSINESS Finance
SBA 504 loan program & SEDF
Purpose: Refinance Real Estate Debt
Community: Sioux Falls
Participating Lender: First Premier Bank
Midwestern Mechanical
Financing Source: Dakota BUSINESS Finance
SBA 504 loan program
Purpose: Refinance Real Estate Debt
Community: Sioux Falls
Participating Lender: First Premier Bank
Canton Quilt Corner, LLC
Financing Source: Dakota BUSINESS Finance
SBA 504 loan program
Purpose: Refinance Real Estate Debt
Community: Canton
Participating Lender: First Bank & Trust
6
Dakota BUSINESS Finance and SEDF Approve Additional Loans
Super Washes
Financing Source: Dakota BUSINESS Finance
SBA 504 loan program
Purpose: Refinance Real Estate Debt
Community: Sioux Falls
Participating Lender: First Dakota National Bank
Golf Addiction
Financing Source: Dakota BUSINESS Finance
SBA 504 loan program
Purpose: Leasehold Improvements & Equipment
Community: Sioux Falls
Participating Lender: First Dakota Bank
Bargain Bytes
Financing Source: Dakota BUSINESS Finance
SBA 504 loan program
Purpose: Purchase Existing Building
Community: Sioux Falls
Participating Lender: First National Bank of
Sioux Falls
7
Dakota BUSINESS Finance and SEDF Approve Additional Loans
JP Denmark
Financing Source: SEDF
Purpose: Purchase & Renovations
Community: Viborg
Participating Lender: Merchants State Bank
Jones’ Ace Hardware of Vermillion, Inc.
Financing Source: SEDF
Purpose: Leasehold Improvements
Community: Vermillion
Parker Pharmacy, LLC
Financing Source: SEDF
Purpose: Purchase Business
Community: Parker
Participating Lender: First Savings Bank
8
Dakota BUSINESS Finance and SEDF Approve Additional Loans
McCook Therapy, LLC
Financing Source: SEDF
Purpose: FF&E & Working Capital
Community: Canistota
Addy Disposal, Inc.
Financing Source: SEDF
Purpose: Purchase Vehicle & Equipment
Community: Canistota
Participating Lender: Dacotah Bank
Zing, Inc.
Financing Source: Dakota BUSINESS Finance
SBA 504 loan program & SEDF
Purpose: Leasehold Improvements
Community: Sioux Falls
Participating Lender: Plains Commerce Bank
9
SD Housing Development
Authority’s Current Rates
SDHDA current interests rates are:
 3.00% Fixed Rate with 1% Discount Point
 3.25% Fixed Rate Option
Please call SDHDA at 605-773-5157 or visit
www.sdhda.org with questions.
Jensen Insurance
& Real Estate
Mark
Jensen
Brad
Bak
Zach
Jensen
Brad
Antonson
Beresford, South Dakota 57004
605-763-2675 ~ 800-658-3539
10
Whe
n
as-
11
SECOG STAFF
500 N. Western Ave., Suite 100
Sioux Falls, SD 57104
SECOG Calendar
BWNR
November 8
CAC
November 14
TAC & UDC
November 15
DBF Board Meeting
November 15
SEDF Board Meeting
November 15
SECOG
December 5
DBF Board Meeting
December 19
SEDF Board Meeting
December 19
Phone: (605) 367-5390
FAX: (605) 367-5394
www.secog.org
Lynne Keller Forbes, Executive Director
E-Mail: [email protected]
Toby Brown, Planner II
E-Mail: [email protected]
Jessica Evans, Senior Loan Officer
E-Mail: [email protected]
BWNR-Board of Water & Natural Resources
Betty Gates, Office Supervisor
E-Mail: [email protected]
Amber Gibson, Planner
E-Mail: [email protected]
Janice Gravning, Planner
E-Mail: [email protected]
Alli Heyd, Closing Officer
E-Mail: [email protected]
Seth Hyberger, Planner
E-Mail: [email protected]
Mandi Knutson, Servicing Analyst
E-Mail: [email protected]
Jim Sampson, GIS Intern
E-Mail: [email protected]
Trisha Viss, Credit Analyst
E-Mail: [email protected]
********************************************
CAC-Citizens Advisory Committee
DBF-Dakota BUSINESS Finance
DOT-Department of Transportation
SECOG-South Eastern Council of Governments
SEDF-South Eastern Development Foundation
TAC-Technical Advisory Committee
UDC-Urbanized Development Commission