in linn r
U'lLiiy uii
r UDI Comrnunity
Development ' Corpora
tion (UDICDQ receiv
ed a grant of 1400,000
from, the U.S. Depart
ment of Commerce,
Economic Development"
i Administration, accor
ding to R. Edward
Stewart, executive direc
tor for the local develop
ment corporation. -"
Stewart said that the
grand funds will be used
to provide financial
assistance through a
Revolving Loan Fund
(RLF) program to
businesses - located ; or
planning to locate in the
UDI Industrial Park, if
they,- meet certain
criteria. The criteria in
clude the company's
track record (unless it is
new), a sound develop--ment'
plan, and the
potential for success.
"Historically small
businesses have always
had difficulty in obtain
iqg development and
growth capital," Stewart
said. The RLF grant is
designed to address the
situation by serving as a
means to ' leverage
private-sector financing
for industrial develop
ment projects by small
and medium-sized .in
dustrial firms. The RLF
can be effective in bridg
ing the financial gap in
the local capital market
creating a feasible ap
proach for the small
business man to acquire
adequate funds for
growth and expansion."
The RLF project will
have an advisory com
mittee of nine : 'persons
knowledgeable in finan
cial and business
management, real estate,
construction, banking
and government policies
as they relate to
economic practices. This
committee will do an
analysis of all applicants
and make recommenda
tions f to the staff and
board of UDICDC.
The grant represents a
total Of over $2 million
invested in the Industrial
Park during the last 12
months from federal and
private financial sources.
This ; involves $1.5
million, a mixture of
private and federal
dollars, ' designated for
acquisition of an addi
tional 50 ". acres, and
infra-structure develop
ment to enlarge the In
dustrial Park to 91 acres4 '
possessing 'i water . , and
sewer lines, underground
electric, gas, v paved
streets and gutters and a
rail spur.
UDI Industrial Park
has a five-year develop
ment 'plan. Upon its
completion, the park is
projected to - contain
.W Hi! I.
SATURMY CCTC2EP 1S3Z-THE CAHOLM Ti:.:$-U
25-30 office v.. and
manufacturing facilities
with a value of $25
million, and 1000 jobs
: creating annual income
Of $10-$1 2,000,000. The
job-creatjon - v factor
exists,", he said,, "even but wants to be nearby ;
during these times of v because it si definitely a
economic - decline, growth area," he said.
because of severaj fac
'tors: (1) support of the
Chamber of Commerce,
(2) industrial recruitment.
should bring the govern- by the state developers.
ment a 12-1 return on its.v and (3) prime location of
investment, Stewart con- thei Industrial Park.'V
eluded, ' - The location is a major
i UDI Industrial Park ' V factor; Stewart said,
. currently contains two because it is only three
industries: ; i Northern
Telecom and Hydro Ser
vices. Stewart projects
the Park to contain nc
less than five operations
by the end of 1983,
employing 350-400 per
sons. "This optimism
Stewart acknowledged.
that $400,000 is not a
large amount v for a
Revolving loan program
rdesigned to attract in
dustry. . "One million
dollars is considered the
amount needed, but with
the cutback in . federal
programs, we are pleased
minutes away from the we were able to get what
Research Triangle Park.
"This makes it a major
attraction because it is
our effort to recruit in
dustry that does not have
the sophistication or
desire to locate in the
Research Triangle Park,
we did.
Additional ; publicity
will be given' the pro
gram. The UDI Revolv
ing Loan Fund commit
tee should begin review
ing applications . in
November.
Darryl
Smith Named Outstandina
Younq Man Of America
When
Durham
he came to
in 1977, Darryl
Washington-Smith
wasted no time before in
volving himself in com
munity affairs.
Almost immediately
after unpacking his bags,
he not only joined two of
Durham's major black
organizations, but also
took active leadership
roles in them, serving on .
the executive committee":
of both the local
NAACP branch and the
Durham Committee on
the Affairs of Black Peo
ple. He ( soon became a
member of the N!C.
Association of Black
Lawyers and a charter
member of the Durham
Chapter of the National
Black Child Develop
ment Institute.;
With these and many
other notches ijr his com
munity outreach belt.
Smith, , an .. assistant
district attorney for
Durham County, was
recently selected to be in
cluded in the 1982 edi
tion of Outstandina
Young Men of America,
a publication listing with
biographical sketches.
c - iviii ' run
SMITH
young men who have
contributed "beyond the
call of duty" to the im
provement of their com
munity, state and nation.
. "I'm pleased," Smith
said during a brief inter
view, "that my activities
have been recognized;
that I was selected for
his award. Hopefully, it
will be a positive role
model for young people,
a catalyst" to spur them to
become more involved.'
Smith is among several
young men across the
country named
"Outstanding Young
Men of America". The
award is sponsored by
Outstanding Americans,
Inc., an Alabama-based
organization that pro
motes community and
civic involvement by
young professionals.
According ' to
organizational literature,
selections were made
from the nation's gover
nors, congressmen,
lawyers, senators; col
lege i presidents, among
other professionals, who
branch out beyond their
daily occupations to con
tribute to the nation's
well-being.
The publication, ac
cording to literature, will
be complete later this
month and will be
available in public
libraries across the coun
try. Smith, who has been
with the local district at
torney's office ' since
1978, received his
undergraduate degree
from Boston University
and his'law degree from
Catholic University in
Washington, D.C.
He is also a member of
the American Bar
Association, the young
lawyers section of the
N.C. Bar, and the 14th
Judicial District Bar
Association.
He has served on the
Advisory Committee for
WTVD-Channel 11, and
organized a conference
entitled "Justice and the
Poor" while working
with the Central Legal
Assistance Program o
Durham.
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5201 Peppercorn (Old Farm Area) Brick rancher w8 VA assumable loan. 3
BR. 2 bath, LR, den. gararge. Call for more info. $53,500.
1544 Burlington Ave Brick splitrancher in central Ideation. Over 1550 sq. ft., in
cluding 3 BR, den wfireplace, study. LR. DR, kitchen wbreakfast area; 2 baths,
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3633 Shrewsbury (Hope Valley North) Beautiful contemporary on a nice corner lot
in the Durham County School District. Formal LR & DR. 3 BRs. 2 BAs. den. deck.
$15,000.00 and assume FHA 245 loan with payments $539.23. A great buy!
$65,000.
815 Yosemite Contemporary (Southern Durham County). This lovely contem
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great room wfireplace. $68,000
Southern Durham County (ErwJnwood)-817 Yosemite. New construction with V?
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with eat-in kitchen.
1303 Willowdale (Beechwood Area) Brick rancher in excellent condition with
many features. 3 BR. LR, Dr ,& kitchen combination. Call today. $40,950.
4100 Five Oaks-Condominium. New Listing ,3 BR. LR, DR. kitchen wbreaktast
area, 2Y?,baths, and rock garden. Call for appointment. $74,500.
902 Cook Rd Great starter home. 3 BR, LR, kitchen, very spacious. $32,000.
1404 Rosewood A great buy with a super loan assumption at 11. Monthly pay
ment $396.39. Excellent area.
2213 Wlntergreen-GREAT LOAN ASSUMPTION. This 3 BR rancher can be yours
with only $12,250 down & assume. 10 loan wmortgage payments of only $335.
$38,250.
610 Dunbar St.-Lovely older hnm with lots of potential, 3 BR, 1 bath. LR. DR. on
large lot. Good loan assumption. $5250 down payment, $392.97 mo. payment.
NCCU Area 820 Ridgeway 2 BR frame rancher. $26,500.
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Research. 3 BR, den. $45,500.
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UMIQI
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596-9218
Ralph Hester
544-3020
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