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Friday, April 19, 2024 |
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MMF RAISING INVESTMENT FUNDS |
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Vivian Moon
MUSA Council Joined: May 16 2008 Location: Middletown, Ohi Status: Offline Points: 4187 |
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Posted: Dec 22 2014 at 3:04pm |
Posted: 7:00 a.m.
Monday, Dec. 22, 2014
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Vivian Moon
MUSA Council Joined: May 16 2008 Location: Middletown, Ohi Status: Offline Points: 4187 |
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Oh, I have a lot of comments about this
article as soon as I pull all my research. |
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acclaro
Prominent MUSA Citizen Joined: Jul 01 2009 Status: Offline Points: 1878 |
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Its bridge funding, not 'gap'.
No private equity nor vc would ever pass on funding any venture providing a good multiplier, 3x-5x or >. A non profit such as MMF, or a non profit such as Grassroots Ohio, borrows capital or needs capital, because there business model and capital investment needs, are poor and raising issues associated with ROI and risk. Pretty simple. Capital flows to high return. Capital gets held when the return is questionable. How does a non profit like Grassroads Ohio qualify as a non profit when its stated goal, is to lease high end property, or what is the benefit of operating a lease property as a non profit? Same with micro-brewery. Greenville needed $50 Mm in capital. Don't see $ Mm coming from private investors nor a bank. Stste and fed provide tax credits, not capital. Plans.... not execution seems consistent outcome. |
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'An appeaser is one who feeds a crocodile, hoping it will eat him last.' - Winston Churchill
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Vivian Moon
MUSA Council Joined: May 16 2008 Location: Middletown, Ohi Status: Offline Points: 4187 |
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Updated: 6:06 p.m.
Friday, Dec. 7, 2012 | Posted: 8:00 a.m. Sunday, Dec. 9, 2012 By Michael D. Pitman The Liberty Restaurant —
once a long-time institution in downtown but
has opened and closed three times since 2000 — has a new owner who believes she
has the right recipe to have sustained success in fulfilling her dream thanks
to an economic development program. Sally Hollon is the first business owner to be
accepted for a micro loan, a program of Downtown
Middletown Inc. and First Financial Bank. “I basically had no money to open this place,”
said Hollon, who worked 14 years at Stefano’s and nearly four decades in the
business before trying her hand as an owner. “They came up with this loan … and
the money they gave me is what I’m using to get my food and everything in this
building.” Downtown In
September, the downtown champion
partnered with First Financial to offer $100,000 in micro loans to current or
potential downtown businesses to
help spur local economic development. Hollon was granted by First Financial the
maximum loan amount of $10,000, said DMI Director Patrick Kay. “We’re here to make sure that businesses fit
within downtown,” he said. Interested businesses submit plans to Downtown Middletown Inc., and if
they approve of the plan, the business owner makes the loan application to the
bank — though there’s no guarantee the one-time loan will be approved. Restaurants will be a key component in the
downtown’s success, Kay said. By this spring, he said there will be seven
restaurants in the downtown between
ones that exist now and those that will be open by early 2013. “When you’re bringing economic development
anywhere, you’ve got to start with your anchors,” he said. “Restaurants are the
anchors for the downtown, any downtown.” Hollon will be the face of the Liberty
Restaurant as the new owner, but the musical instruments and pictures of
musical icons that adorn the warm, bright red walls of the restaurant won’t be
the reason she believes she will be successful. Several
restaurant-industry friends who will work for her preparing and serving the
made-from-scratch menu items with Amatulli Produce products. But what probably
will drive people to the Liberty Restaurant, Hollon said, is what the
restaurant has been known for: the famous Liberty Hot Dogs. “We have the original chili recipe,” she said.
“It will be the same hot dogs they served 50 years ago.” But Hollon hopes the “down-home cookin’” will
also keep people coming back. Her menu’s specialty, stuffed burgers, will be
complimented by various plate specials, including meatloaf, chicken and
dumplings, pork chops and stuffed peppers. The When the restaurants reopens, which is expected
to be on Dec. 17, Hollon hopes it will last as long — if not longer — as its
eight-decade first run. “I’ve worked in restaurants all my life, and
it’s been a dream to own one,” said Hollon, who started in the business as a
teenager in her home state of |
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Vivian Moon
MUSA Council Joined: May 16 2008 Location: Middletown, Ohi Status: Offline Points: 4187 |
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Downtown Middletown
Inc. http://www.downtownmiddletown.org/wp-content/uploads/2014/02/Annual-Report-2013-1.pdf |
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Vivian Moon
MUSA Council Joined: May 16 2008 Location: Middletown, Ohi Status: Offline Points: 4187 |
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Agenda Page 2 5. Fiscal
Officer’s Certificate. In
connection with proposed issue of $10,590,000 bonds to pay costs of the reestablishment of a substantial part
or all of Central Avenue and Broad Streets, for acquisition of property, for
demolition and removal of a substantial part or all of the City Centre Mall,
renovation thereof and all costs necessary or incidental thereto; that the
estimated life or period of usefulness of the improvement is at least five
years, and the estimated maximum maturity of the Bonds, calculated in
accordance with Section 133.20 of the Revised Code 6. Ordinance
No. , an ordinance providing
for the issuance and sale of not to exceed $10,590,000 bonds for the
purpose of paying costs of the construction of street improvements and the
necessary demolition, property acquisition and other activities related
thereto implementing the Downtown Urban Renewal Plan, as amended from time
to time, and declaring an emergency. Question: After 16 years what
is the current balance of this debt? |
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Vivian Moon
MUSA Council Joined: May 16 2008 Location: Middletown, Ohi Status: Offline Points: 4187 |
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The goal is to raise a total pot of $5 million worth of commitments from financial institutions, community foundations or other sources, said the group’s Interim Director Calista Smith. City government has not pledged any taxpayer dollars at this time for the investment fund, Smith said.
Miss Smith you're kidding, right? Miss Smith, since you have so much faith in this Downtown Investment Plan, how much of your own hard cash are you going to invest? |
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acclaro
Prominent MUSA Citizen Joined: Jul 01 2009 Status: Offline Points: 1878 |
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To my knowledge, it doesn't even appear MMF has ever submitted an annual report to the state since their initial founding.
Foundations would provide capital to start-ups downtown for what reason----do they not expect a return? This whole downtown picture appears to be a spin. We are doing something, lots of buzz, but little occurring. Years to get tax credits, lots of non profits involved. Didn't know First Financial was able to give 100,000 out at low interest or no review of risk. The Land of Oz----smoke, mirrors, and pulleys. |
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'An appeaser is one who feeds a crocodile, hoping it will eat him last.' - Winston Churchill
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Vivian Moon
MUSA Council Joined: May 16 2008 Location: Middletown, Ohi Status: Offline Points: 4187 |
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Ah yes that dirty little four letter word RISK … In other words...time for a better plan...Middletown is going broke |
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over the hill
MUSA Citizen Joined: Oct 19 2012 Location: middletown Status: Offline Points: 952 |
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I think i'll just go set down by our lovely river front entertainment venue and have my self a nice Merlow and watch the sunset. Care to join me.
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Vivian Moon
MUSA Council Joined: May 16 2008 Location: Middletown, Ohi Status: Offline Points: 4187 |
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Over the Hill
Sorry I can't join you right now I'm busy playing with the brandy and rum bottles this morning. Merry Ho! Ho! Ho! |
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