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The Carolina times. (Durham, N.C.) 1919-current, October 09, 1982, Page 13, Image 13

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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. Subscribe To The Carolina Times It's As Easy As Dialing 682-2913 A , : TV ASSOCIATES , tEATJORS v- Office Hours Monday-Friday 9:C3J:C3 Sunday 2:C3-5:C3 511 Grant Street 633-8711 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, much more. Call for more info. . "; " -'-,;''' -"" . ' 3815 Shrewsbury (Hope Valley North)-2,000 sq. ft., plus 4 BR. Vh bath, fireplace, den; formal DR & LR. Excellent condition. Call for more info. 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 porary is nested among nature on half-acre lot. Custom-built 3 BR. 3 bath. DR & great room wfireplace. $68,000 Southern Durham County (ErwJnwood)-817 Yosemite. New construction with V? acre lot. Brick rancher with 3 bedrooms, 2 baths; den wfireplace. formal LR & DR. 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. Huntersville Rd. (Massey Chapel Rd.)-S. Durham. Miles from Chapel Hill. Research. 3 BR, den. $45,500. 306 Omega Rd. (River Forest) Recently redocorated brick rancher in quiet neighborhood. 3 BR, Vh bath. Must see to appreciate. $41,900. 105 Prince St. (Chapel Hill, NC)- Excellent neighborhood. Spacious fenced-in yard, lots of trees, 3 BR, central heat. $39,500. UMIQI Ueorgia Stephens-Hunter 596-9218 Ralph Hester 544-3020 T7 W "M li H KrairW'Efla FOME YO'OR EA A CHANCE TO WIN 1 m JT 25" Curtis Mathes Color TV Console 1 9 " Curtis Mathes Color TV Portables FROM PALMER TV Kodak & Minolta Cameras Only 2 More W ML - "XiS $500 trivia CASH PRIZES South Square Mall Gift Certificates Album Gift Packs $200 Gasoline FROM PARKVIEW CONVENIENCE CENTER And A Hundred Other Prizes Get Your Window Stickers At These Participating Sponsors Now!!! Parkview Convenience Center 433 W. Pilot St Palmer T.V , 3165 Hillsborough Road Durham Sporting Goods , : NorthgateMall Lily Pad Waterbeds Coggin Plaza On The Chapel Hill Blvd. Pan -A-Rama Beauty Salon 1218FayettevilleSt. The Chamelon Club 117W.ParrishSt. S&E Hair Care Center 2518FayettevilleSt. The Record Bars Durham, Raleigh & Chapel Hill Evelyn King's Hair Design 305 SowellSt. AND LISTEN TO 1490 AM FOR DETAILS ON HOW TO WIN

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