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Centralina <br />Development <br /> <br />I 5 o · ]Corporation <br />Financing That Makes Your Busit~ess Work <br /> <br />Post Office Box 35008 <br /> <br />· Chartotte. NC 28235 <br /> <br />April 6, 1999 <br /> <br />Mr. Frank W, Clifton, Manager <br />Cabarrus County Board of Commissioners <br />Post Office Box 707 <br />Concord, NC 28026 <br /> <br />Dear Frank: <br /> <br />Each year, Centralina Development Corporation (CDC) requests that your Board of <br />Commissioners appoint three persons from your county to be members of the CDC. <br /> <br />On the second Wednesday in August, we will hold our annual meeting to elect two of the three <br />members from your county to the Board of Directors for a one-year term <br /> <br />Of the three members appointed by each Board of County Commissioners, one needs to be a <br />person designated as the representative of local government ( provided that such person may, but <br />need not be, a local elected official), one shall be a representative of a business or community <br />organization and one shall be a full-time employee ora private lending institution. <br /> <br />The CDC provides fixed asset financing to small businesses throughout the region, and we would <br />appreciate the appointment of members who are familiar with business financing and other <br />business policies and procedures. <br /> <br />Some counties have instituted a policy requiring that appointees may not serve more than six <br />consecutive years on any board. We would like to ask that an exception be made for CDC <br />appointme:,ts. Some ofoul' iilOst tall:h~.Ui <br /> a.u io~yat ~ recro;-s nave served on our ~,ua, u for ,cn, <br />eleven or twelve years. Two of our present members served six years, retired for one year and <br />asked to be reappointed. It does require time for new directors to learn to be effective, so we <br />;vould appreciate your reappointment of ali members for as long as they actively participate and <br />se~'e with the CDC. <br /> <br />During the past nine months, we have received 20 SBA approvals for loans of $7,347,000 on <br />projects valued in excess of $20,992,250 with job creation at 281. <br /> <br />The Board of Directors meets on the second Wednesday of each nqonth as needed, and approves <br />or denies loan applications. It is imperative that the member, if elected to the Board, be willing to <br />actively participate and attend the monthly meetings on a regular basis. <br /> <br />An SBA Certified Development Company <br /> <br />Midlow~ Plaza · ]301} Baxter Street [28204) www charweb org/business/cogcdc <br /> -4-- <br /> (704) 372 2416 Fax [70zO 372 1280 [_ _ E mail: cdc. charweO org <br /> <br /> <br />