3CORE

Cultivating healthy businesses because people matter

Marc Nemanic893-8732 x 204 or mnemanic@3coreedc.org

Core Assets

Federally-Designated Economic Development District

501 (c) (3) Charitable Tax Exempt Corporation

Certified State and Federal Community Development Financial Institution (CDFI)

Licensed California Finance Lender

Technical Advisor/Project Manager

Formed in 1985—began work in 1986-1987

Economic Development District

Federally Designated Economic Development District (EDD) 378 Nationally 5 California

Service Region = Butte, Glenn & Tehama County and the incorporated cities 3 Counties 9 Cities

$30,198,262 funded projects 1996-2009

Where are the Districts?

Economic Development Projects in Tehama County

County 2 Planning & Technical Assistance grants = $70,000 $150,000 Enterprise grant

Red Bluff 1 Planning & Technical Assistance grant = $35,000

Corning 2 Planning & Technical Assistance grants = $70,000

Total (2006-2011) = $325,000

Tehama County Enterprise Grant (Business Mentoring Program)

January 2010-May 2011 3 clients—in-depth business

assistance 1 pending client enrollment 19 applications/incomplete or did not

qualify by income 4 Business Training Workshops held

in Red Bluff & Corning

Business Development Workshops

11/3—Red Bluff—11 businesses

12/8—Red Bluff—5 businesses

2/2– Red Bluff—4 businesses

2/9—Corning—8 businesses

Total => 28

Workshop costs underwritten in part by Wells Fargo Bank

501 (c) (3) Non-Profit Status

Private tax deductible charitable contributions authorized

$326,450 contributed 1996-2010

Raised $2.65 million private capital investments=> $167,000 loans made in Tehama County

Licensed California Finance Lender Manage 12 loan funds with $4.1 million

capital base

$2.991 million current active loan portfolio (73%)

1987-2011

-280 loans -$14,010,109 loans closed

-average 4:1 leverage of private investment

-2008-2010 loan loss % (Valley of Death) = .0098%

Lending Volume 2006-2011

Total = $4,785,472

Tehama County = $1,105,811 (23%)

2006-2009 average = $916,000

2010-2011 average = $560,000 (-39%)

Community Development Financial Institution (CDFI)

Purpose-> CDFI is a specialized financial institution that works in market niches that are underserved by traditional financial institutions

CDFI certification is a requirement for accessing financial and technical assistance for the US Treasury

Leveraging CDFI Asset

Expand financial readiness training and technical assistance

Establish Loan Accelerator to prepare businesses to borrower effectively

Expand capital base prudently Identify financing gaps for future

product development Partner with local banks

Governance

5-person Board of Directors

Oversees the general operations of the 501 c 3 corporation

Private sector members from the tri-county region

25-member CEDS Advisory Board

Membership prescribed by EDA

Responsible for developing area regional plan

Regional plan called the CEDS

2 Tehama County non-governmental appointments open

CEDS Advisory Board functions Help develop the regional plan (CEDS) Represent the economic interests of the

region Advise professional staff on coordinating

and implementing CEDS priorities Overseeing research, planning,

implementation, and advisory functions under the CEDS

Meets 2 times a year with additional meetings as necessary