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..CEN'IF. AUNA <br /> DEVELOPMENT <br /> CORPORATION <br /> <br />POST OFFICE BOX 35008 · CHARLOTI'E, NORTH CAROUNA 28235 <br /> <br />April 8, 1996 <br /> <br />Mr. Frank W. Clifton, Jr., Manager <br />Cabarms County Board of Commissioners <br />Post Office Box 707 <br />Concord, NC 28026 <br /> <br />Dear Mr. Clifton: <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 last Tuesday in August, we will hold our annual meeting and elect two of the three <br />members from your county to the Board of Directors for a one-year tenn. <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 ora business or community <br />organization and one shall be a full-time employee of a 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 />appointments. Some of our most faithful and loyal directors have served on our Board for ten, <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 />would appreciate your reappointment of all members for as long as they actively participate and <br />serve with the CDC. <br /> <br />During the past nine months, we have received 29 SBA approvals for loans of $9,820,000 on <br />projects valued in excess of $29,815,000 with job creation at 412+. This year, in nine months, we <br />have already exceeded 1995% record year. <br /> <br />The Board of Directors meets on the last Tuesday of each month as needed, and approves or <br />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 />ONE CHARLOTTETOWN CENTER · 1300 BAXTER STREET (282041 <br />(704) 372-2416 FAX (704) 34%4710 <br /> <br /> <br />