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TRANSCRIPT
Southeast Texas EDFANNUAL REPORT
2015
L E T T E R F R O M T H EE X E C U T I V E D I R E C T O R
JIM RICH
This has been a milestone year as we completed organizational changes to reconstitute the Board of Directors
and meet new governance regulations to maintain our status as a certified development corporation with the
U.S. Small Business Administration. We expanded the board to fifteen and eliminated our former membership.
Most of our former members, if they are not Directors, are now Advisory Directors, and we added other
community leaders to facilitate our mission. When government regulations are proposed and implemented
there are broader reasons for them. We are now able to provide larger loan amounts with fewer restrictions so
we are poised for a period of growth with additional loans. The tradeoff is more oversight requirements for the
Board of Directors and the potential for increased oversight by the SBA. The federally guaranteed loans we
market and service are aimed at providing long term fixed rate financing for small business expansions. They
are real estate loans or loans for large equipment. Together the fees generated allow the Southeast Texas
Economic Development Foundation to coordinate and/or finance broader economic development activities. I
am proud that of all SBA loan programs, our program is backed by zero subsidies from the SBA or federal
budget. Congress places an annual cap on the volume of loans and establishes the allowable fees to fund the
program.
We have enjoyed a multiple decade relationship with Scott Actkinson and the staff at Statesman Business
Advisors in Houston, Texas to underwrite and submit our loans for SBA approval. Eric Hird with the law firm
Hird, Chu, & Lawji, PLLC located in the Woodlands, Texas ably closes our loans. Jessica Hill and Cheryl Kizer
provide outstanding efforts to market and service the loans on a daily basis. Our unique relationship with the
Greater Beaumont Chamber of Commerce has provided management support for decades and I have
performed the Executive Director role in excess of sixteen years in conjunction with my role as President of
the Greater Beaumont Chamber of Commerce. That changed on June 30 when I retired from the Chamber
with plans to only serve as the Executive Director of the Southeast Texas Economic Development Foundation.
This change further satisfies the new governance requirements implemented this year.
Let me close with an expression of appreciation to the outstanding volunteers who serve on the loan, audit,
portfolio review, and REDI committees. We must have an engaged and competent board to complete our
work, and we have great contributors. Let me especially thank Board Chairman Steve Grantham who guided
us through the bylaw revisions and changes in governance. This report highlights a year of accomplishments
and progress, and a great outlook for the future.
PH: 409.838.6585 | WEB: SETEDF.ORG
Jim RichExecutiveDirector
SOUTHEAST TEXAS ECONOMIC DEVELOPMENT FOUNDATION
THETEAM
Over 35 years of experience
Cheryl KizerVP CDC
Operations
Jessica HillVP EconomicDevelopment
Jim Rich oversees the managerial responsibilities of the Certified DevelopmentCompany by developing strategic objectives, facilitating cooperative relationships,
maintaining compliance, and encouraging Board participation.
Cheryl Kizer services the CDC's loan portfolio including payoffs, liquidations andchange actions. She ensures the CDC's compliance with SBA regulations and
manages the financial business of the Foundation. Cheryl also participates in business
development and loan origination.
Jessica Hill coordinates business development and loan origination efforts for theCDC. She also acts as liaison to the Foundation's Regional Economic Development
Initiative, responding to prospect leads on behalf of the three county region.
Gene ArnoldBobby FillyawWayne HollandJohn MorrellJames RichDean RobinsonNada Rogers
B O A R D O F D I R E C T O R S
Gene Arnold EnterprisesOrange County EDCCommunityBank of TexasBBVA CompassSETEDFState Farm InsuranceCity of Beaumont
Ann ScogginRobert TurnerRobert KocotBob HamerLarry KellyRep. Joe Deshotel
Coldwell BankerJK Chevrolet SubaruFirst Financial BankMobiloil Credit UnionPort of Port ArthurState of Texas
Chairman: Steve Grantham Vice Chairman: Charlie Foxworth
A D V I S O R Y D I R E C T O R SMike AlbaneseWade BillingsleyConnie BrowningJared ByrdKeat ChiassonGerald CondonConrad CooperChristina CrawfordBob DickinsonJeff DysonTodd GaudinJonathan HaskettShawn Hurley
Will JacksonJohn JohnsonPaul LatiolaisDavid MayBill McCoyWendall MeauxTed MoorDave MulcahyDan ParkerIda SchossowKarl SeguraJosh Smith
Albanese Cormier HoldingsState Farm Insurance First Financial BankDuGood Federal Credit UnionThird Coast BankGerald Condon PropertiesSBDC Lamar Port ArthurThe Beaumont ClubSouth East Texas RPCLamar UniversityGulf Credit Union Mobiloil Credit UnionScallon Controls
Wells Fargo BankGMJ & AssociatesLamar UniversityCommunityBank of TexasGreater Port Arthur COCCommunityBank of TexasHigginbotham Insurance SBDC Lamar UniversityCommunityBank of Texas Greater Orange Area COCEntergy Texas, Inc.Bill Clark Pest Control
E X - O F F I C I O A D V I S O R Y D I R E C T O R SMayor Becky Ames Judge Jeff BranickJudge Brint CarltonBlake HopperJudge Wayne McDanielRepresentative Dade Phelan
City of BeaumontJefferson CountyOrange CountyCongressman Randy WeberHardin CountyState of Texas
3ORANGE COUNTY
EDC
SOUTHEASTTEXAS RPC
WORKFORCESOLUTIONS
GREATERBEAUMONT COC
GREATER PORTARTHUR COCENTERGY TEXAS KOUNTZE EDC
PORT ARTHUR EDC PORT NECHES EDCNEDERLAND EDC
LAMARUNIVERSITY
SABINE RIVERAUTHORITY
OFFICE OF THEGOVERNOR
billion
$
committed capital investmentRyze Renewables | TOTAL | Phillips 66 800+ JOBS
REDIsoutheast texas
Regional Economic Development Initiative: Fulfillingthe vision of regional economic growth through thecollaboration of ideas brought forth by its members
membership
GIScapabilities
RegionalMarketing
Video
LEADtracking system
ComingSoon
CICE Center for Innovation
Commercialization and
Entrepreneurship @ LU
December 2016
January 6, 2015attendance:
+230Dr. Ray Perryman
Prepared by the South East Texas Economic
Development District in cooperation with the
South East Texas Regional Planning
Commission and the South East Texas
Economic Development Foundation to meet
requirements set forth by the United States
Economic Development Administration.
REALReal Estate Advantage Loan
US Small Business Administration
AUTHORIZATIONS:$1,865,000
Burkeshire Plantation, Boutte's Boudin,Bushi Ban, Compassion Hospice
2015 brought significant regulatory change to theSBA loan program requiring more board
oversight, CDC accountability and improved duediligence. SETEDF is one of the first CDC's in the
country to satisfy the new regulations.
Lender of the Year: Steve Grantham, JP Morgan ChaseNewcomer of the Year: Jonathan Haskett, Mobiloil Credit Union
Loan Closings
$3,874,000Burkeshire Plantation
Tri-Supply, Inc.Triangle Therapeutics
Portfolio Status
loans35
$18,184,275BALANCE
$11,176.81Monthly Servicing:
200+ attendeesCyber Security
Snap Sessions
Small Business AwardsLender Matchmaking
1110 Park StreetBeaumont, Texas 77701
409.838.6585
setedf.org
Southeast Texas Economic Development Foundation
2015 Annual Report