Revolving Loan Fund Award Received
MIDAS has been awarded an Economic Development Administration grant in the amount of $250,000 for the recapitalization of the business revolving loan fund (RLF). The 10% local match requirement has been committed by each of the five disaster declared counties in the MIDAS region; Hamilton, Humboldt, Pocahontas, Webster, and Wright. These funds are available NOW for loans. Businesses in any of the five listed counties that are interested in applying for this low interest loan should prepare and submit an application as soon as possible. Applications may be obtained by writing to MIDAS, C/O RLF, 602 1st Ave S, Fort Dodge, 50501, or by going on-line. Calhoun County businesses should also apply as they are eligible for loans of funds remaining in the original business RLF. All MIDAS business RLF loans are for a maximum of 10-15% of the total project.
City of Roland Becomes MIDAS Member
The City of Roland became MIDAS’s first associate member when the Executive Board approved their application on the 20th of May. Earlier this year MIDAS had established a policy that established associate memberships, set dues, and identified membership benefits. Two membership levels were established, basic and enhanced. Basic memberships provide the monthly MIDAS newsletter, inclusion in all “Blast” (wide broadcast) e-mail alerts and advisories, free technical assistance, free attendance at City Clerks meetings, and invitations to MIDAS hosted training events at member prices. Enhanced memberships include all of the basic membership benefits plus MIDAS member rates on grant applications and on other professional services such as comprehensive plans, land use plans, etc. The City of Roland opted to purchase the enhanced membership.
FOURTH ANNUAL NATIONAL DUMP THE PUMP TO BE HELD ON JUNE 18
Take Public Transportation to Answer America’s Biggest Challenges
As America’s economic challenges continue, MIDAS Transit Systems and DART announced that they will join with other public transportation systems nationwide to participate in the fourth annual National Dump the Pump Day on June 18. Sponsored by the American Public Transportation Association (APTA), the 2009 National Dump the Pump Day is a day that encourages people to ride public transportation to save money, protect the environment, reduce our dependence on foreign oil, and improve our quality of life.
“America is facing a number of significant economic challenges right now,” said Rose Lee, Transit Manager. “People that use public transportation are helping to answer those challenges for themselves and for their country. That’s why we’re asking people to join us and dump the pump on June 18.” Individuals can achieve an average annual savings of over $8,000 by taking public transportation instead of driving and by living with one less car. And for every $1 invested in public transportation infrastructure, $6 is generated in economic returns to communities. “Public transportation also has an important role to play in the energy and environmental debate,” said Ms. Lee. “If you leave your car behind to take public transportation, you will be helping to reduce America’s dependence on foreign energy and combat climate change.” Public transportation saves 900,000 automobile fill-ups each day – 4.2 billion gallons of gasoline per year. And switching to public transportation can reduce individual carbon emissions by 20 pounds per day or 4,800 pounds per year. “By participating in Dump the Pump Day, we hope people who have never used MIDAS Transit or DART will decide to give us a try instead of driving their car,” said Ms. Lee. “We’ll be welcoming new riders and thanking our regular riders with special services and benefits on National Dump the Pump Day, including: