Community: Farnam Population: 227
Name of Project: Blighted and Substandard
Contact Person: Dan Widick
Day Phone: 308-569-2333
Email: dwidick@atcjet.net
Category: Economic Development
Subcategory: Business Assistance and Development
Annual/Ongoing: No
Date Project Began: May 1, 2010
Date Completed: June 2010
Number of Volunteers: 5
Volunteer Hours: 10
Nominated for Special Awards: No
1. Give a brief description of the project.
The All-Points Co-op Elevator Division wanted to build new grain storage to supplement what they already had. In order to help financially with the project, the Co-op wanted to apply for Tax Increment Financing for 14 years. Before this could happen, the town had to be declared blighted and substandard. The Co-op volunteered to pay for the costs for the study to be done to see if the community would qualify for this designation.2. Identify the planning and implementation of the project
a) Describe methods used to plan and implement the project.
The management of the Co-op met with the town board to see if they would be interested in having the business build a 1.3 million bushel storage facility costing 4.2 million dollars. The village board was very interested in the project and agreed to have the blighted and substandard study done.
The Co-op then paid to have the study done. The results were that the town was declared blighted and substandard. As a result of the study, the elevator qualified for the tax increment financing program. The construction of the addition on the facility is underway.
b) Describe how the project relates to the communities overall goals (including the goals identified by the community on its Intent to Enter form).
One of the ongoing goals of the community is to acquire new businesses and encourage the expansion of the businesses that we already have. This project allows for a huge expansion of the elevator to take place which will increase the amount of business that will occur within the community.
c) Describe how the project was identified as a priority for the community.
3. Describe volunteer involvement in planning and implementing the project.The goal of business expansion has been a long time goal of the community and the Farnam Economic Development Corporation. This project fits in with that goal very well as it allows for the expansion of the elevator. It also may open doors for other businesses in the future to take advantage of this program and encourage business expansion and recruitment and possibly job creation.
a) Describe how responsibilities were delegated among volunteers.
The volunteers involved in the program were the village board and the management of the All-Points Co-op. As this was a business decision between the town and the elevator, they were the principle entities responsible for the completion of this project.
b) Describe how volunteers were recruited for the project.
4. Identify Project OutcomesThe only volunteers needed for this project were the All-Points Co-op managers and the village board and they were already in a position to carry this project to completion.
a) What did the community intend to change as a result of the project?
The community intended to make Farnam a more business-friendly community. To not only encourage present business owners to expand, but also make Farnam more attractive as a possible location for businesses that are looking to relocate or as a location for a business start-up.
b) Describe community-wide support behind the project.
The community seemed to support the project and there was no opposition to the project once everyone understood what was going to happen.
c) Describe how the final project impacted the community, including measurable data (Measurable data include both qualitative and quantitative information)
The project allowed the co-op to expand its grain handling facility and the construction is seen going on today. This is a very large project and will not be completed until well into the second half of 2011.
5. Describe how resources were identified and used to successfully implement the project.The town is also now positioned to allow other projects to be eligible for Tax Increment financing.
a) Monetary (grants, fund-raising, bonds, etc.)
The cost of the study was paid for by All-Points Co-op.
b) Materials and supplies (purchased and donated)
There were none of these.
c) Labor (volunteer, in-kind, and paid services).
6. Future PlansThe only volunteer labor involved was that done by the village board and the management of the Co-op as they help meetings to work out the details of the project.
a) How will the community build upon or follow-up with this project in the future?
The community will now be able to use the fact that a business may be able to use tax increment financing if it comes to Farnam. This will help us to possibly recruit new businesses to our town. Other businesses already located in town might possibly be able to use this program if they should desire to expand.
b) What has the community learned from this project that can be applied to future development efforts?
7. Please describe what aspects (if any) of the project were especially unique or creative?If business and community can work together, both entities can benefit.
The most unique aspect of the project was having All-Points Co-op pay for the Blighted and Substandard study.
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