2003 Annual Report Executive Summary
Beadle/Spink Enterprise Community (BASEC)
BASEC has completed the ninth year of this ten-year initiative and is a successful and self-sustainable organization. Additionally, as of December 2003, BASEC has met and or exceeded 100% of all the benchmarks that were set forth. Increasing outputs on the majority of benchmarks will continue to be a goal as these benchmarks are integral to BASEC’s strategic plan. Access to affordable capital for four main sectors of the community and building leadership capacity are the cornerstones of BASEC’s strategic plan. This is being accomplished with the revolving loan fund (RLF) program that encompasses the areas of business, rural development, farm income development and housing development. BASEC has made low interest affordable loans totaling $2.8 million of the $2.95 million initial SSBG EZ/EC funding for the RLF. As of 12/31/03, $2.1 million of the revolved SSBG EZ/EC funds have been reloaned. Additionally, BASEC has leveraged over $2.5 million from other sources and have loaned those funds for the various RLF programs. Specifically for the year 2003, $780,280 was loaned out. This is a 105% increase from fiscal year 2002. 268 loans totaling $7.5 million have been made since 1996 with interest rates ranging from 1% to 6% to BASEC residents and projects located within the BASEC boundaries. The interest received on the loans is used to pay for administrative costs. The principle replenishes the RLF. Thus, BASEC is a self- sustaining organization that is viewed as a valuable resource in community development.
Over $25 million have been leveraged from other sources for projects that BASEC was directly involved in since this EC designation. Because BASEC is self-sustainable through the RLF programs, more efforts are being directed toward other community needs such as building leadership capacity at all age levels. BASEC hosted its 5th Annual Community Leadership Workshop in November 2003. Attendance at this year’s workshop was down by 25%. Approximately 30% of the participants were first time participants. However, participants still evaluated the workshop as being very beneficial and felt strongly that it should be continued. Due to economics, BASEC was not in the position to provide as much funding in community pass through grants in prior years but was able to commit a total of $2500.00 for community projects submitted. A community newsletter published by area youth in the Iroquois school district received the top mini-grant award of $750.00. Other projects funded were renovating Doland senior center, new community street banners for Yale, grass seed for new park in Cavour, new concession stand at the Frankfort softball field and new sign and landscaping for historic site in Tulare. An overall total of $39,500.00 in pass through mini-grants has been awarded for over 120 community projects since 1999. There is not a dollar amount that can measure the value and the merit of the efforts in this leadership capacity building. BASEC is reaching far more people with the leadership efforts than if BASEC were content with only the RLF program. Every resident of the EC has benefited from the EZ/EC initiative.
$515,450 in Housing Preservation Grant (HPG) funds has been passed on to very low and low-income residents for home repair and removal of health and safety hazards. The average grant passed on was $6,000 per home. In 2003, 18 homes were repaired and updated to remove health and safety issues with HPG grant funds. Since August 1997, BASEC’s HPG program assisted 100 very low and low-income family homes with grant funds. Additionally, BASEC has complimented the HPG grants and made $113,887 in home repair loans. BASEC has several other housing loan programs that financed the construction of 13 new homes and provided for the purchase of 17 existing homes and the remodeling of 26 homes.
Currently BASEC employs three full time employees; the executive director, housing director and fiscal manager and one part time receptionist. BASEC’s Strategic Plan was reviewed and updated in 2003 according to the desires and direction given to the BASEC Board of Directors and staff by the EC residents at the annual Continuous Improvement Council held April 8, 2002.