2007 Annual Report Executive
Summary
Clinch - Powell Enterprise Community
The Clinch-Powell Enterprise Community has leveraged $172,243,829.00 in grants, loans and new investments in the Region since 1999. Significant accomplishments this year are the continuation of the 2003 EC Program Initiatives: Appalachian Quilt Trail, the Home Team EC Affordable Homes and Homebuyers Education, the Boys and Girls Club of Hawkins County, the Small Business Revolving Loan Fund, and the new Tourism Component of the AQT at Kyles Ford.
The Appalachian Quilt Trail is a Tennessee/North Carolina collaboration of painted quilt blocks installed on buildings and businesses for economic development through tourism. Currently there are over 250 blocks in East Tennessee in 19 counties. Clinch-Powell has been the leader in this effort and received a Rural Development RBEG grant for marketing the project for 2006-2007. A marketing director was hired who completed a marketing plan, a comprehensive website (www.vacationaqt.com), and a full color brochure. More than ninety quilt blocks have been installed in the five counties of the Clinch-Powell EC with several more ready to install. The Home Team built and sold 3 houses in Claiborne County in 2006. A total of 4 homes have been built and sold as part of this initiative. We built one home; purchased two other residences we have for sale, and provided $40,000 in down payment assistance. Hawkins County successfully partnered with the Morristown BGC to build a Boys and Girls Club program in Rogersville In 2007 it served over 500 youth ages 7-18. Hancock County chose to expand their current recreation program rather than chartering a BGC. The Hancock program served 1,150 youth ages 4-18.
The Small Business Revolving Loan program funded the last loan of the RBEG grant in 2006, but loan proceeds (money repaid from businesses getting RLF loans) was loaned to a new business that opened a Christian Book Store. We partnered with a different bank, Citizens Bank and Trust of Grainger County, for this loan. These loans are an attractive rate of 2/3 at 90% of prime (2%) and 1/3 at prevailing bank rates giving a blended rate of around 4.5-5.0%. In addition to assisting businesses that have been turned down elsewhere due to credit issues or other reasons the business owners save substantially over the life of the loan with this reduced blended rate.
The Clinch-Powell RC&D Council purchased a defunct store building and dilapidated small house as well as 17 acres along the Clinch River at Kyles Ford in Hancock County. The store was renovated into River Place Market, River Place Café, and has a 2-room apartment on the second floor for a Vista worker. The old two story house was renovated into a charming cottage that sleeps 6-8 people and is beautifully appointed in a rustic country motif. Four cabins were built on the mountain overlooking the Clinch River that sleep 4-6 each. The guest cabins and cottage have wood walls, local hand crafted clay tiles in the kitchens and bathrooms with hand crafted clay sinks in the bathrooms. The Lawson Cabin is a log cabin that was donated to the RC&D and is located a few miles down the road in Hawkins County. It was built in the mid 1800’s and has three rooms downstairs separated by a dog trot and a large loft upstairs. It is in the process of being renovated.