The Board of Directors of Midwest Minnesota Community Development Corporation announces the appointment of Julia Nelmark as company President.
Ms. Nelmark started at MMCDC in 2004 as an Investment Analyst and was promoted to Director of New Markets Tax Credit Financing. She led the deployment of $544 million of NMTC allocation across Minnesota and surrounding states, for dozens of projects ranging from $250,000 to $20 million.
Originally from Illinois, Ms. Nelmark received her bachelor’s degree from Benedictine University, where she was Accounting Major of the Year. She received her CPA certification and went on to receive a master’s of management degree from Kellogg Graduate School of Business at Northwestern University. She held a number of accounting, finance and analyst positions for Amoco Corp. and subsidiaries, and managed the budgeting – strategic planning area for Advance Transformer Company before she and her husband purchased an interest in the family dairy farm near Wolf Lake, Minn.
“I am excited to be chosen as the next leader for MMCDC. We have a strong team of people providing affordable financing, housing and other development work to communities and reservations in and around Minnesota,” Ms. Nelmark said. “I look forward to advancing our impact in new ways.”
She replaces Kevin Shipley, who will continue as special projects director during a transition period following his retirement.
“We are appreciative of Kevin’s many years of service to the company, and we look forward to a new chapter in company growth under Julia’s direction,” said Janet Green, who was reelected to the position of MMCDC Board Chairperson for 2018-2019. She represents Becker County.
Also elected as board officers were Vice Chairperson Gary Thibert, representing Red Lake County; Treasurer Jeff Haukebo, Hubbard County; and Secretary Breanna Adams, Becker/Otter Tail counties.
Lori Guenther was elected as a new board member representing Mahnomen County, replacing Karen Ahmann. Jim Dagg was elected to his first three-year term as a Pennington County representative.
Other board members include Lester Liljedahl, Clearwater County; Tara Wolff, Hubbard County; Lorna LaGue, Mahnomen County; Paul Ihle, Pennington County; David Burggraf, Eastern Polk County; and Dan Stevens, White Earth Reservation.
In 1971, MMCDC began by serving the counties of Mahnomen, Hubbard, Becker, Red Lake, Pennington, Clearwater and Eastern Polk, including the White Earth Reservation. Today, MMCDC lends and invests statewide and beyond.