Burleigh County Stimulus | KXNet.com North Dakota News
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Burleigh County StimulusAug 6 2009 7:09PM
KXMBTV Bismarck It's the amount of money that has become available for Burleigh County. It's part of the American Recovery and Reinvestment Act of 2009. But does the money come with strings attached? Brad Feldman looks into the requirements needed to accept the money. You've seen it in the headlines.. North Dakotas success story is now well known throughout the country (Kelvin Hullet/ Bismarck Mandan Chamber of Commerce) "There were some very good strategic decisions made really in the last three years. First of all our banks did not get into the subprime loan issues so we dont have people upside down on our houses. Our employers have continued to grow at a steady rate and we have a very diversified economy." Now, a local attorney is trying to spur more economic development activity Jaclin Wike is asking the Burleigh County commission to accept money to be used as a Recovery Zone loan program from the American Recovery and Reinvestment Act of 2009 Nearly six million dollars is available to qualified businesses in the county for private investment It can be used to help a business build a new facility or help a business get started Another almost four million dollars would be available to the county for public use such as roads, bridges and courthouses Wike declined multiple requests for an on camera interview for this story. However, off camera, she says the money is there and if not used by Burleigh County it will be reallocated to other counties But there are certain requirements for the loan program A recovery zone is defined as an area approved by the county commission as having significant povery, unemployment rate, rate of home foreclosures or general distress So does this describe Burleigh County? On unemployment.. (Michael Ziesch/ Job Service of North Dakota) "I think right now at todays date you would have to compare yourself to what the national rate is and the national rate is 9.7%. So the state at 4.6 percent is a very favorable rate and Burleigh County at 3.6% is a low unemployment rate." On home foreclosures...the national average is three-point eight-five percent.. The west north central region which consists of seven states is at three-point-five-nine percent.. North Dakota's home foreclosure rate is at point-nine-four percent (Dave Flohr/ ND Housing Finance Agency) "Just because we have not been as affected up to this point things are turning around this could be the worse we are going to see. You don't know." About ten million dollars in available money is at stake.. More ecoonomic development...but is it worth the price? It's a question Burleigh County Commissioners will have to decide Brad Feldman KX News The Burleigh County Commission took up the proposal at its meeting Monday evening. The commission tabled the subject until it's next meeting on August 17th. Wike says Cass County and Grand Forks County have already accepted their portion of the Recovery Zone loan money available.
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