HomeMy WebLinkAbout10.16.20 Board Correspondence - Email from C Badenhausen, Public Banking Institute RE October 22nd Town Hall about Public Banking, COVID-19, & Fire Recovery
From:Schuman, Amy
To:Alpert, Bruce;Bennett, Robin;Cook, Holly;Pickett, Andy;Ring, Brian;Rodas, Amalia;Sweeney, Kathleen
Cc:Jessee, Meegan;Taggart, Kevin;Wilson, Joanne;Clerk of the Board;Paulsen, Shaina
Subject:Board Correspondence - Email from C Badenhausen, Public Banking Institute RE October 22nd Town Hall about
Public Banking, COVID-19, & Fire Recovery
Date:Friday, October 16, 2020 8:44:30 AM
Attachments:ERG-OneSheet.pdf
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Good morning,
nd
FYI - The email correspondence below and attachment regarding an invitation for an October 22
Town Hall related to Public Banking, COVID-19, and Fire Recovery was sent to the Supervisors and
other city/town representatives in our County.
Amy Schuman
Associate Clerk of the Board
Butte County Administration
25 County Center Drive, Suite 200, Oroville, CA 95965
O: 530.552.3300 |D: 530.552.3308 | F: 530.538.7120
Twitter | Facebook | YouTube | Pinterest
From: Cimbria Badenhausen <Office@publicbankinginstitute.org>
Sent: Thursday, October 15, 2020 1:38 PM
To: Steve Breedlove <steve@breedloveforchico.com>
Cc: sryan@cityofredbluff.org; Deyestone@cityofredbluff.org; Cparker@cityofredbluff.org;
Kdeiters@cityofredbluff.org; Jjones@cityofredbluff.org; ajenkins@cityofredbluff.org;
TCBOS@co.tehama.ca.us; mbrimm@corning.org; llinnet@corning.org; dhoss@co.tehama.ca.us;
gcboard@countyofglenn.net; boardclerk@countyofglenn.net; TTC@countyofglenn.net;
debbie.presson@chicoca.gov; dani.rogers@chicoca.gov; stina.cooley@chicoca.gov;
molly.marcussen@chicoca.gov; scott.dowell@chicoca.gov; Clerk of the Board
<clerkoftheboard@buttecounty.net>; Teeter, Doug <DTeeter@buttecounty.net>; Connelly, Bill
<BConnelly@buttecounty.net>; Lucero, Debra <DLucero@buttecounty.net>; Ritter, Tami
<TRitter@buttecounty.net>; BOS District 4 <District4@buttecounty.net>; ahatley@cityoforoville.org;
jgoodson@cityoforoville.org; ldraper@cityoforoville.org; esmith@cityoforoville.org;
dpittman@cityoforoville.org; sthomson@cityoforoville.org; creynolds@cityoforoville.org;
finance@cityoforoville.org; bahd@cityoforoville.org; qcrye@gridley.ca.us; ztorres@gridley.ca.us;
rborges@gridley.ca.us; cwilliams@gridley.ca.us; bjohnson@gridley.ca.us; finance@gridley.ca.us;
jdvolenski@townofparadise.com; smiller@townofparadise.com
Subject: Re: "How to Rescue Main Street post COVID-19" presentation
ATTENTION: This message originated from outside Butte County. Please exercise judgment before opening
..
attachments, clicking on links, or replying.
PublicBankingisaviableoptionfor ButteCountytobuild aregenerative
economywhichcanfundyourrecoveryfromthewildfiresand
COVID19.TheBankofNorthDakotaiscurrentlytheonly
publicbankintheContinentalU.S.NorthDakotahascreated
theEconomicResiliencyGrant(seeattachment)forNorth
Dakotabusinesseswithloansforbusinessesupto$50,000,up
to$100,000forbusinesseswithmorethanonelocation.Butte
Countycouldbedoingsomethinglikethis,ifithadapublic
bank!
"BND received $200 million of the $1.25 billion in federal CARES Act funding that was
distributed to the state in March of this year.Of the $200 million, $120 million was
returned to the Emergency Commission and $17 million has been used for interest
buydowns for the Bank’s COVID PACE Recovery I (CPR I) Program. That program
has made 133 loans for $116 million.In addition, the Bank has three other COVID-
recovery programs. The Small Employer Loan Fund (SELF) has distributed 700 loans
totaling $24 million. Three loans totaling $16 million were made through the Ethanol
Recovery Program and 288 loans for $141 million have been made through the
Agriculture Disaster Relief Program. The funds have been accessed by more than
300 industries across the state.
“The dedication of the local banks and credit unions responding to pandemic-related
challenges has been outstanding,” stated Eric Hardmeyer, president/CEO of BND.
“They remain the primary distribution channel for BND programs, assisting with
maintaining and growing their local economies.”
Youcanseethatlocalbanksbenefitgreatlyfromtheirrelationshipwithastate
publicbank,asdothe businesses,andthereforetheresidents.
ButteCounty'sTownHallisonlyaweekaway.Ifyouhavenotregisteredyet,
pleaseclickheretodoso.https://tinyurl.com/ButteCountyPB (I'dliketothank
thoseofyouwhohavealreadyregistered.Welookforwardtohavingyouonthe
call!)
Ifanyonehasquestionsaboutpublicbankingorwouldliketoholdapreliminary
conversationwithanyofourboardbeforethecallpleaseletmeknow.
Hereare4videoswhichmayhelppiqueyourinterest.
Know the Difference
5ThingsStatesCanDo
WhenaCrisisHits
FourWaystoStrengthenStateandCityFinances
Welookforwardtoseeingyouonthe22nd!
CimbriaBadenhausen,MBA,ENVSP
PublicBankingInstitute-EngagementandSupport
(315)228-8652
Become a Supporter!
Want to get involved?Register to join our monthly Coalition Discussions.Once a month,
PBI hosts an hour-long Public Banking Coalition Discussion via Zoomvideoconferencing
software.HereweintroducetheconceptofPublicBanks,discusscurrentissues,andgive
updatesontheadvancesbeingmadeforPublicBanksallacrossthecountry. Callstakeplace
at12:00pmET / 9:00amPT on2ndFridaysofeachmonth.
Connect with us!PBI's Facebook,PBI's Twitter,PBI's Vimeo,PBI's YouTube
OnWed,Oct7,2020at12:22AMSteveBreedlove<steve@breedloveforchico.com>wrote:
Honorable elected officials and executive personnel for the citiesin and counties of Butte,
Tehemaand Glenn:
You are invited to apresentation by the Public Banking Institute on Thursday, October 22, 2020
from 6-7:30pm. Please register here.
Public banks — banks owned by the public — have been shown to respond more rapidly,
effectively and equitably to crises than privately-owned banks. The public is invited to learn how
at an informative Town Hall titled “Bring On the Power of Public Banking: How to Rescue Main
Street Post COVID-19,” hosted by the Public Banking Institute and supporters in Chico, CA.
Even after the CARES stimulus package, states and cities face serious budget crises and
communities are struggling to survive, in the wake of mass unemployment, exploding costs,
and plummeting tax revenues. Interest rates on municipal bonds have shot up, while interest
rates for banks have dropped virtually to zero. What can states and cities do? Form their own
publicly-owned banks.
Town Hall panelists will examine how a public bank could become a real financial lifeline to
struggling Butte County communities desperate for funds, staving off economic disaster and
jump-starting the economy.
Thank you for your consideration on this issue and we look forward to discussing the potential
benefits of a regional public bank in the North State.
Thursday, October 22, 2020 from 6-7:30pm. Register here.Please feel free to forward this to
staff representatives who will attend in your place,or in the case of clerks, please forward to the
officials as appropriate.
Respectfully,
Steve Breedlove
Chico, California
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