Our Greeter today was Chuck Ehninger and he did a marvelous job.
President Jeanne Shipe rang the bell at 7:30 A.M. to open the meeting. Jeanne again projected a series of photos from last week and before in a continuous loop for our viewing as we ate breakfast.
Jeanne began the meeting having the members recite the 4 Way test, Then we said the Pledge of Allegiance to the U.S.A.
GUESTS:
Our Speaker and our Student of the Month and family.
Pres. Jeanne reviewed upcoming events and asked for other announcements.
STUDENT of the MONTH:
Rev. Jeff Kistler conducted the award to Parkland H.S. Senior Sriyaa Suresh. Sriyaa was joined at the presentation by her parents, Dad Suresh Santanam, Mom Kumudaa Suresh, and by Dr. Jude Sandt, Assistant Principal at Parkland. Dr. Sandt praised Sriyaa for her many accomplishments. And Sriyaa thanked Rotarians for the honor today. See separate article.
KINGDOM LIFE DATE CHANGES:
Jean Masiko reports that we are changing the date for stocking shelves at Kingdom Life Family Center Food Bank for the next two months, November and December to the second Friday of the month.
LOWHILL FOOD PANTRY:
Please remember that the Collection jar is at the registration desk for cash and check contributions.
THE NEXT THURSDAY EVENING MEETING will be TOMORROW, October 25th at 5:30 PM at the Holiday Inn in Breinigsville.
Then at the Nov 8th Thursday evening meeting our District Foundation Committee Chair, PDG Mike McCarthy, will be our program.
DESTINATION MEETING:
November 7th at LCTI. The breakfast fee is $12 pp.
DO NOT COME TO LUTHER CREST.
AWRC OPEN HOUSE MEETING is our regular Luther Crest meeting on November 14th. There are color flyers to use and the registration site is listed.
PAUL HARRIS RECOGNITION AWARDS:
On Nov 21st we will recognize our AW Rotarians who have reached another level in donations to the RI Annual Fund. NOVEMBER IS FOUNDATION MONTH !
PURPLE PINKIE SPONSORS:
Pres. Jeanne thanks all of the sponsors of her and Daisy dog for the $1,200 to go to Polio Plus.
ANNUAL FOUNDATION SEMINAR is on November 10th at MONTCO CC in Blue Bell. Grant Training and certification will be conducted after lunch. Register on-line with EventBrite.
DICTIONARY PROJECT:
P-E Amir Famili has launched this year’s project and now has about 1,000 dictionaries in his garage. There will be a “Label Pasting” Party at Amir’s home on October 26th.from 3 to 5 P.M.
TT5 PLANING MEETING:
November 16, 2018 – TT5 Planning Meeting at the Holiday Inn
7:00AM for breakfast; meeting from 7:30-8:30AM
MIRACLE LEAUGUE HALOWEEN PARTY:
The Northwestern Interact students will volunteer at the party again this year --- TONIGHT.
RI FOUNDATION REPORT:
Barbara Kistler, our Foundation Chair reviewed the following:
“November is Rotary Foundation Month. To celebrate we are:
1. Encouraging members to be part of a Rotary Foundation Committee with Barbara.
2. Giving out Rotary piggy banks to our newest members as a way to encourage them to get in the habit of contributing to the Rotary Foundation
3. Evening Meeting speaker, November 8, at the Holiday Inn is PDG Mike McCarthy, District Foundation Committee chair.
4. Matching dollars or “Recognition Points” will be offered as incentives so more members obtain a Paul Harris Fellow award. Start working toward our yearly giving goal of $12,000.
5. Celebrating Paul Harris Fellows day on Wed. Nov. 21. Paul Harris Fellows wear medallions/pins and we learn about Paul Harris. Hopefully some new Paul Harris Fellows will be named.
ANNUAL AWRC CHRISTMAS PARTY:
Dec. 7th at Brookside CC in Macungie. Seth Witcher, son of Ralph, will entertain with his marvelous singing talents.
VOTING for NEXT YEAR’S OFFICERS:
At our Dec 12th morning meeting we will be voting for AW officers for the 2019-2020 RY.
JANUARY DINING OUT:
January 24, 2019 – Dining Out at Curious Goods 6PM
NEXT MEETING -- October 31st -- Our Greeter will be Ralph Witcher. And our program will be Gary Heller sharing “One Man's Passion--Photographing Old Homes.”
Pres Jeanne introduced S-a-A Mitch Huston who conducted the drawings and picked up the Happy and Frustration Dollars.
The door prize bottle of Wine donated by Chuck Ehninger-was won by Bill Palmer -- two weeks in a row.
The 50:50 pot of $138 was NOT WON .by Al Lewis whose ticket was drawn. He picked the white marble and left the black one. ONLY ONE MARBLE LEFT -- AND IT IS BLACK.
HAPPY DOLLARS:
Bill Palmer is happy to be celebrating his birthday tomorrow. And we all sang “Happy Birthday” to him.
Dan Crane is frustrated about something.
Dottie Bloom is very happy to be back at our meetings. Their new puppy is growing up. And she said that the Meals On Wheels merger changes are frustrating.
Jeff Kistler says that he is happy to have retired on 9-1, and now has time to do many household chores.
Amir Famili is happy to be back and they had a fabulous trip to Iran. One highlight was climbing 500 steps to view the Zoroastrian symbol of their Mecca.
Jerry Frank and Sally just returned from a great trip to Phoenix, AZ where they drove to Tucson and met up with Ernie and Sandy Boll.
Jean Masiko is happy to have avoided a serious auto accident yesterday at a bad intersection.
Ron Coleman is happy to be going to visit with his son in Louisville, KY.
PROGRAM:
Our program today was David Dunn (Emmaus RC) of the Allentown Economic Development Corp. discussing Financing Growing Businesses in Allentown, i.e. Access to Capital.
David Dunn is the Loan Program Manager at AEDC. His career has been multi-faceted. He has worked as an Investment Banker for 20 years…Goldman Sachs, Shearson Lehman and then as a senior executive at Canadian Imperial Bank of Commerce in Toronto.
Moving to Vermont in the 90’s, David bought and sold two manufacturing businesses. And after that, he ran an Emergency Medical service.
About 7 years ago, David became a Program Director at Lehigh University helping small businesses and Lehigh faculty commercialize patients and IP.
David reviewed the Economic Development Loan Programs he manages and the Pennsylvania Minority Business Development Authority. These programs are designed to stimulate business development in the region and Allentown in particular. The funds hold millions in loans and they often fill the gap between traditional lenders loan packages and a borrower’s actual needs.
AEDC is a 501(c)(3) nonprofit corporation formed in 1979.
What they offer?
✓Blighted Property Management
✓Land Development and Property Management Services
✓Participation in Business Recruitment & Retention
✓Business & Manufacturing Incubation Space
✓Economic Development Financing
AEDC Manage Five Loan Programs:
✓ City of Allentown Economic Development Loan Fund (‘COAEDLF’)
✓ City of Allentown Neighborhood Revitalization Fund (‘COAEDLF’)
✓ City of Allentown Enterprise Zone Loan Fund (‘EZ’)
✓ Pennsylvania Minority Business Development Authority Fund
(‘PMBDA’) For Lehigh & Northampton County
✓ ADCO Loan Fund
Where the $$$ Came From:
COAEDLF: City approved arm’s length funds earmarked for economic redevelopment - $$$ is protected from budget pressures.
COA – EZ Fund: Two separate grants from the State to the City to be used for a revolving loan fund.
PMBDA: Funds borrowed under contract from the State are used for this minority loan program (we have three tranches of funds).
ADCO: CRA Funds in 1990’s - donation made in exchange for stock ownership by multiple banks.
The goal is self-perpetuation: Using the interest spread to add capital for new loans.
What Do They Look For?
✓ MANUFACTURING OR SERVICE businesses with…
Early stage rapid growth
Problems that $$$ can fix
Gap financing to seed blighted property development
❖ Goal…Increase economic development through…
- Increased employment
- Conversion of blighted property onto tax rolls
- Stimulation of business growth (obviously!)
They do not touch retail or restaurants…
David finished by answering some questions. And he distributed some flyers about the loan programs.
CLOSING:
We closed our meeting by reciting the saying “One profits most who serves best.”
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