2023-08-18T06:56:29-07:00 2022-12-31 814729979 TAYLOR AND WILLIS CPAS AND ADVISORS LLC 3500 N CAUSEWAY BLVD STE 1145 METAIRIE LA 70002 990EZ 2022-01-01 462750063 JEDCO DEVELOPMENT CORPORATION JEDC 5048753908 700 CHURCHILL PARKWAY AVONDALE LA 70094 MICHAEL FAHRENHOLT Chairman 2023-08-18 true MICHAEL FAHRENHOLT 999009999 true Kevin C Willis CPA P00537471 5042674427 2 AAL1 IAL1 FAL1 2022 2023-04-26 12:10:37Z X X N/A X X 128522 X 128201 321 0 0 0 0 128522 134713 134713 -6191 7458 1267 X 186121 220554 186121 220554 178663 219287 7458 1267 TO PROVIDE U S SMALL BUSINESS ADMINISTRATION (SBA)LOANS TO SMALL BUSINESSES LOCATED WITHIN THE GEOGRAPHIC AREA OF THE STATE OF LOUISIANA BY WORKING WITH THE SBA AND PARTICIPATING PRIVATE LENDERS. Certified development companies (CDCS) are non-profit corporations certified and regulated by the small business administration to package, process, close, and service 504 loans. These 504 loans are issued through a partnership with certified development companies (CDC) and private sector, third party lenders. There are a small number of for-profit CDCs that have been grandfathered into the current 504 program. The provisions of this SOP apply to the non-profit and the for-profit CDCS in accordance with the terms of the regulations. JEDCO Development Corporation is a CDC in the SBA 504 loan program.Between 1990 and 2022, JEDCO Development Corporation has approved 178 SBA 504 loans and funded 91 SBA 504 loans.THE FINANCE DEPARTMENT IS CURRENTLY STAFFED BY 4 EMPLOYEES OF THE RELATED GOVERNMENTAL ENTITY, JEFFERSON PARISH ECONOMIC DEVELOPMENT & PORT DISTRICT. THE FINANCE DIRECTOR OR THE BUSINESS DEVELOPMENT OFFICER MEETS WITH APPLICANTS, GATHERS INFORMATION NECESSARY TO COMPLETE APPLICATIONS AND SUBMITS APPLICATIONS TO THE BOARD OF DIRECTORS OF JEDCO DEVELOPMENT CORPORATION FOR APPROVAL. THE FINANCING OPERATIONS MANAGER IS RESPONSIBLE FOR COORDINATING LOAN CLOSINGS WITH BORROWERS AND CLOSING ATTORNEYS AND SUBMITTING CLOSING DOCUMENTS TO SBA. THE LOAN SPECIALIST INPUTS THE LOAN INFORMATION INTO A SOFTWARE PROGRAM USED TO MONITOR LOAN REQUIREMENTS FOR THE LIFE OF THE LOAN, WHICH IS TYPICALLY 20 YEARS. Over the life of JEDCO's SBA loan program, 789.22 job opportunities have been created and 385.38 job opportunities have been retained. SBA requires that a CDC must have a job opportunity average of 1 job for every $75,000 of debenture funding or $85,000 for projects located in special geographic areas (enterprise communities, empowerment zones, labor surplus areas, and opportunity zones). JEDCO has created/retained 1 job for every $40,804.30 of SBA funding.In 2022, 2 loans were funded totaling $1,296,000.00 with anticipated creation of 14 new jobs. 134713 134713 JAMES BAUM MEMBER 0.52 0 BARRY BREAUX MEMBER 0.52 0 ANTHONY DiGEROLAMO Chairman 0.52 0 KENNETH BERTUCCI MEMBER 0.52 0 BRIAN HEIDEN Treasurer 0.52 0 MICHAEL KRAFT Secretary 0.52 0 KEITH MERRITT MEMBER 0.52 0 MICHAEL FAHRENHOLT VICE CHAIRMAN 0.52 0 FLOYD SIMEON MEMBER 0.52 0 MICKAL ADLER MEMBER 0.52 0 JIM MARTIN MEMBER 0.52 0 JIM HUDSON MEMBER 0.52 0 false false false false false false false 0 0 0 false 0 0 false LACEY G BORDELON 700 CHURCHILL PARKWAY AVONDALE LA 70094 5048753919 false false false false false false false false false false false NONE NONE true X 0 82407 170777 100430 168904 128201 650719 0 0 0 82407 170777 100430 168904 128201 650719 0 0 650719 1405 2487 3905 321 8118 0 1405 2487 3905 321 8118 0 0 82407 172182 102917 172809 128522 658837 0.98770 0.01230 X Other Expenses.1 SBA SERVICING FEES $134713 Total Liabilities.1 SBA ESCROW - Beginning $13507 SBA ESCROW - Ending $13507 Total Liabilities.2 DUE TO JEDCO - Beginning $165156 DUE TO JEDCO - Ending $205780