2000 Annual Report Executive Summary
Beadle/Spink Enterprise Community (BASEC)
BASEC has completed the sixth year of this ten-year initiative. However, BASEC plans to continue to operate far longer than the initiative. Self-sustainability was one of the key principles in the Round I EZ/EC program. BASEC residents took that concept seriously in program development and in the overall strategic plan. This concept continues to be important to the residents as evidenced by direction received from BASEC's Continuous Improvement Council participants. Access to affordable capital for four main sectors of the community was the cornerstone of BASEC's strategic plan. Hence, came the development of a revolving loan fund (RLF) program that encompasses the areas of business, rural development, farm income development and housing development. BASEC loaned $2.7 million of the $2.95 million SSBG EZ/EC funding for the RLF. As of 12/31/00, $1 million of the revolved SSBG EZ/EC funds have been reloaned. Additionally, BASEC has leveraged over $2 million from other sources and have loaned those funds for the various RLF programs. Specifically for the year 2000, $485,539 was loaned out, equal to the amount dispersed in 1999. One hundred eighty-two loans totaling $5.5 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 $15 million have been leveraged from other sources for project that BASEC was directly involved in since this EC designation. Now that BASEC is self-sustainable through the RLF programs, more efforts are being directed toward other community needs. Building leadership capacity at all age levels is one area that BASEC focused on in 2000. BASEC received funds from the Annenburg Rural Challenge Program through South Dakota State University for leadership development. $19,500 in pass through mini-grants has been awarded for over 70 community projects since 1999. Town beautification, cemetery maintenance and repairs, park improvements, community computer classes, fire safety education and heritage projects such as making a video documentary depicting life in a rural community are among the many projects. Additionally, BASEC sponsors youth leadership projects such as the Fifth Grade Business Fair and Student Extravaganza events that highlight how school curriculum can be community focused. 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.
$348,065 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 2000, 24 homes were repaired and updated to remove health and safety issues with HPG grant funds. Since August 1997, BASEC's HPG program assisted 59 very low and low-income family homes with grant funds. Additionally, BASEC has complimented the HPG grants and made $75,000 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 14 existing homes with the initial SSBG Enterprise Grant money. $100,000 of revolved SSBG funds has been reloaned to 13 residents for home rehabilitation projects.
As projected, BASEC assumed all administrative responsibility from the Northeast South Dakota Community Action Program (NESDCAP). BASEC staff implemented a loan software system to track, record and analyze loan programs. Currently there are three full time employees; the executive director, housing director and administrative coordinator. BASEC's Strategic Plan will be reviewed and updated in 2001 according to the desires and direction given to the BASEC Board of Directors and staff by the EC residents. Executive Director Lori Hintz, Housing Director Andrea Torgerson and four board members attended the National USDA Rural Development Training Conference in Silver Springs, Maryland this summer. BASEC hosted a two-day workshop/meeting for 10 EZ/EC's of the Upper Midwest in April of 2000. The EZ/EC Consortium, Washington DC, assisted with the majority of expenses for the participants. A tour of the BASEC area including the BASEC office was given. Executive Director Hintz continues to assist as a mentor for many of the Round II Rural EC sites and for new EC directors.