News

A pandemic made the 50th year of Midwest Minnesota Community Development Corporation a memorable one, necessitating service in unprecedented ways.

At the 2021 annual meeting, MMCDC President Julia Nelmark noted swift action by the staff and board to allow clients to weather negative impacts without potential loss of home or business. This included:

Modifying $14.5 million in existing loans, and providing $7.4 million in Paycheck Protection Program and small business emergency loans, Prioritizing resident safety and support in rental housing, and Delivering workforce housing despite supply chain and other barriers as well as free volunteer tax preparation using socially distanced models.

We really have a great staff – a lot of skill, many years of experience in a lot of cases, a lot of drive to help the people in the communities, so it is really thanks to those staff that we accomplish what we do. – MMCDC President Julia Nelmark

Highlights of the June 17 event in Detroit Lakes included a congratulatory video from U.S. Sen. Amy Klobuchar and in-person remarks by former Congressman Collin Peterson. Peterson recalled working together with MMCDC following creation of the Low-Income Housing Tax Credit (LIHTC) program. The program ultimately delivered new investment in affordable housing around the country, including seven apartment buildings now owned by MMCDC.

Calvin Benson, District Outreach Representative for U.S. Rep. Michelle Fischbach (R-Minn.) delivered in-person remarks, and Gov. Tim Walz issued a Certificate of Recognition.

Former MMCDC President Arlen Kangas, Ph.D., was recognized for his 25-year tenure as company president, in particular for work with the White Earth Investment Initiative, a subsidiary company. In turn, he noted the support of Collin Peterson, and the contributions of longtime staff member Doris Kohler and the late John Masog, board director. Both began service to the company in the 1970s. Also recognized was Kathy Misson, retired MMCDC Vice President, Mortgage Lending, and retiring board director Janet Green. 

Incoming board director Lisa Weber was elected to represent Becker County. Directors adopted restated bylaws and elected the following officers: Chairman Paul Ihle, Vice Chairman Gary Thibert, Treasurer Jeff Haukebo and Secretary Breanna Adams.  Additional previous staff and board members in attendance at the event included: Ida McDougall, Detroit Lakes; Judy Quam (Becker County Director); Germaine Riegert (Mahnomen County); Larry Roed (Polk County); Kathy Henry (Hubbard County); and Dale Macklanburg (Hubbard).

 

MMCDC President Julia Nelmark reports on company performance. Treasurer Jeff Haukebo, Hubbard County, delivers a financial summary; at left is Chairman Paul Ihle, Pennington County. Collin Peterson served as congressman for 30 of MMCDC’s 50 years. Former MMCDC President Arlen Kangas, who served in that role for 25 of MMCDC’s 50 years. More than 70 people attended the June 17, 2021, MMCDC annual meeting and 50th anniversary celebration, held at the Historic Holmes Theater in Detroit Lakes, Minn. Calvin Benson sends greetings from U.S. Rep. Michelle Fischbach.

 

 

Where children live, learn and play have a significant impact on their health and development. It’s why improving neighborhood conditions is a critical strategy for improving child well-being. Read a new report from NeighborWorks America and the Center for the Study of Social Policy to learn how organizations and leaders in community development and early childhood can partner together to improve outcomes for young children and their families.

Click Here for the Link to the Full Report

 

The Small Business Administration recently announced its new free learning platform for women entrepreneurs, Ascent. Go to our Women in Business page to view resources for women in business, including a link to the Ascent website.

The platform is designed for women who are beyond the start-up phase of their business and are seeking future growth.

 

 

 

 

 

Detroit Lakes, Minn.–Midwest Minnesota Community Development Corporation is poised to deploy $60 million in targeted investment in four states after finalizing its most recent federal New Markets Tax Credit allocation agreement.

These projects have the power to change lives. This is why the tax credit typically garners bipartisan support, and we applaud our elected officials – including Minnesota Sens. Amy Klobuchar and Tina Smith, 7th District Congressman Collin Peterson and 8th District Congressman Pete Stauber – for helping direct new investment to rural areas. — MMCDC President Julia Nelmark

“Today’s action demonstrates the Administration’s commitment to promoting economic growth and jobs in distressed communities, and to ensuring that every American can get back to work as quickly as possible,” Treasury Secretary Steven T. Mnuchin said when announcing the latest $3.5 billion in federal allocation nationwide.

As in the past, manufacturing centers, medical providers and community organizations top MMCDC’s list of potential financing recipients, with special emphasis on rural and Native American projects and highly distressed communities. The list includes potential projects in Wyoming, a state that is historically underserved by the NMTC, and in South Dakota, North Dakota and Minnesota. 

Using allocation authority, MMCDC connects low-cost financing with hard-to-finance projects that create new and better jobs, services and facilities in underserved areas.

The program is administered by the federal Community Development Financial Institutions Fund, working in partnership with Community Development Entities such as MMCDC. For more information or a financing application, go to Commercial Lending.

Looking for decent, low-cost housing with room for your family? Are you in need of a yard and a garage? Take advantage of this opportunity and join the waiting list for Becker County Public Housing.

MMCDC, which administers the program on behalf of Becker County, is taking rental applications for the 25 single-family homes scattered throughout Becker County, many in our small towns. When vacancies occur, people on the waiting list will be contacted.

Ideal applicants have a need for a larger rental unit of three bedrooms or more. While all homes are income restricted, public housing allows a higher income. Applicants generally pay 30 percent of their gross income on rent, pay their own utilities and care for the property through snow removal, lawn care, and basic cleaning and maintenance.

Call 847-5641 or 888-847-7404 for details.

MMCDC is an equal housing provider, employer and lender. 

MANNA Food Co-op has surpassed its phase one capital campaign goal for a planned expansion and has signed a lease at its new storefront.

Financing and technical assistance from MMCDC helped the co-op to open in 2018 at its current Detroit Lakes, Minn., location. When a larger space became available downtown, MANNA saw an opportunity to connect more community residents and visitors with local producers. MMCDC supported the co-op’s phase one fund-raising goals by converting a portion of its debt to equity financing via preferred co-op shares.

“The membership is strongly committed to the future success of the store, and so are we,” MMCDC President Julia Nelmark said.

The co-op continues working toward its ultimate fund-raising goal of $400,000.

Welcome home to Menahga, a small, lakeside community in Northern Minnesota. Whether you are a senior citizen or a young family, we have an affordable apartment for you. Pine Villa Apartments features a park-like setting and secure entry with walk-in showers, A/C and a community room for socializing with other elderly or disabled adults. Meadow Run Townhomes is in an attractive neighborhood and features spacious 2- and 3-bedroom units with A/C, dishwashers and garages. Call 1-888-847-7404 or go to Affordable Rental Housing for more information. Income restrictions apply.

Kitchen at Meadow Run Townhomes

 

 

MMCDC Note: Roy Jorgenson helped found MMCDC during his service as Director of Inter-County Community Council of Oklee, Minn., from 1966-1984. Prior to that, he served his country in World War II. He passed away this spring just short of his 100th birthday. His life is honored in this video, produced as a joint project of the Minnesota Department of Veterans Affairs and Twin Cities PBS in recognition of a very different type of Memorial Day in 2020. He also is remembered in a story on the state website. 

Roy’s son-in-law, Ron Lindberg, later served as MMCDC’s Board Chairman. We extend our gratitude and our condolences to Roy’s family.

 

The Armory Arts and Event Center in Park Rapids held a celebration on Memorial Day. Read all about their big day in the Park Rapids Enterprise.  Read our congratulatory remarks below.

Midwest Minnesota Community Development Corporation congratulates the many individuals and organizations responsible for re-imagining the former Armory building as an arts and events center. Your dedication has preserved a historic facility and helps ensure a thriving downtown neighborhood for future generations. We would like to acknowledge the Headwaters Regional Finance Corporation, Northwest Minnesota Foundation, the City of Park Rapids, and Armory Square Management Corporation for their participation in financing the project, alongside MMCDC. We look forward to working together with the Park Rapids Economic Development Authority and the Armory Arts and Event Center in managing the property in the best interests of the community. — MMCDC President Julia Nelmark