Annual report (1980)

              ment for a Self-Help Grant in the amount of $150,000. This grant was to be used
as part of the Broadway Commercial Revitalization Project. A portion of the grant
was for a revolving loan fund to improve building facades and the remainder was to
be used for capital improvements. Competition was keen and unfortunately, the Near
West L.D.C. did not receive grant approval. The Near West will continue to seek
other methods of financing for Broadway.
Th~ Near South East Development Corporation (NSEDC) had the greatest amount of
loan activity of the three L.D.C.'s. During 1980, nine (9) loans were made to
small businesses in the older southeastern neighborhoods of Fort Wayne. Of the
businesses obtaining loans, there were four restaurants, one service station,
a building contractor, a building supply company, a tool and die firm, and a peat
moss operation.
These loans within all of the L.D.C. boundaries made it possible for 51 jobs to
be preserved and 54 new jobs to be created. Seven of the nineteen loans were
for minority-owned businesses.
Bank Commitment Program
One reason for the dramatic increase in loan activity over 1979 was the Bank
Commitment Program. In July, 1980 five commercial banks collectively committed
6.5 million dollars to be loaned to small businesses who met bank credit standards.
These loans were guaranteed 90% by the Small Business Administration. The publicity
received through two newspaper articles and radio newscasts generated numerous
applications. Since July, nine (9) bank loans secured with guarantees by the SBA
have been made citywide.
Industrial Visitation Program
An industrial visitation program was established during the past program year
and has since been utilized as a business development tool. The staff initiated
the project by completing a report on comparative visitation programs in several
cities. The report outlining details of how the program should work in Fort
Wayne was also prepared.
PLANNING ACTIVITIES
Overall Economic Development Program (O.E.D.P.)
Preparation of the Allen County Overall Economic Development Program was a major
element of the 302(a) staff during the spring quarter. Beginning in February,
data sources were researched and the data from previous years was updated. By
April, the research was completed and results were compiled for analysis by the
staff and the Allen County O.E.D.P. Task Force.
Several meetings were held by a staff committee represented by planners from
the Redevelopment Commission, Allen County Plan Commission, Northeastern
Indiana Regional Coordinating Council, Indiana Employment Security Division,
and Community Development and Planning Department. This committee insured the
technical participation of several units of government in the planning process.
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