By Nicole Montesano • Staff Writer • 

Commissioners debate aid to businesses

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Comments

David S. Wall

There are many problems with the aforementioned discussion concerning Yamhill County coming to the aid of distressed businesses. I cannot address them all in this post.

This statement of intent is quite troublesome.

“They also said they’re willing to consider borrowing money from a county fund that holds income from federal timber harvests, with the intention of repaying it later, and from video lottery funds designated for economic development.”

The Office of Regional Solutions is located in the sprawling and growing complex of other “Offices” in the Governor’s Office.

View the “Regional Solutions” here:

https://www.oregon.gov/gov/admin/regional-solutions/Pages/about.aspx

“Regional Solutions” is funded out of “Video Lottery Money.”

“Regional Solutions” gives out “Economic Development Grants” to counties. These “Grants” are funded by “Video Lottery” money. Yamhill is one of those lucky counties. Look for Yamhill County in the “Mid-Valley Region” on Regional Solution’s webpage.

The Board of Commissioners has contracted with SEDCOR [($269,148) until (12.31.21)] to analyze small grant requests from businesses and then recommend the commercial entity for a grant award.

SEDCOR (Strategic Economic Development Corporation) can be viewed here:

https://www.sedcor.com/page/1

The “contract” with SEDCOR can be reviewed here:

https://www.co.yamhill.or.us/sites/default/files/111419%20packet_0.pdf [Pages 1-2]

Go to Post #2

David S. Wall

David S. Wall

Post #2

Now, SEDCOR wants to set up a quasi-revolving loan program having direct access to the “county fund that holds income from federal timber harvests with the intention of repaying it later, and from video lottery funds designated for economic development.”

Now remember, SEDCOR wants to use the “Economic Development Grant” awarded to Yamhill County-which is “Video Lottery money” to repay any monies given away from the “income from federal timber harvests.”

So, SEDCOR, under the aforementioned scenario, would have control of both the “income from federal timber harvests” and the “Video Lottery Grant” money from “Regional Solutions.”

The BOC were elected to make decisions-not to literally, “pass the bucks.”

Personally, I have never supported the notion the County needs SEDCOR in the first place.

Our economy is collapsing and all of us are going to suffer, but handing out small grants to small businesses is a good-hearted idea, I just believe the aforementioned financing is going to collapse as well and we will lose all the money from both funds.

I am a fiscal conservative.

Save the “Economic Development Grant” money and the “income from federal timber harvests.”

I support helping small, medium and large businesses in Yamhill County but, not the way the BOC and SEDCOR are seriously contemplating.

David S. Wall

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