FOR IMMEDIATE RELEASE
Gary Madrzykowski
419-882-8313, ext. 33

June 19, 2008

SCIC Elects Board Members; Begins Link Deposit.

The Sylvania Area Community Improvement Corporation (SCIC) elected four new Board of Trustee members at its June 2008 Board meeting, and approved the application process to activate its new Link Deposit Program.

New SCIC Board of Trustees are Joshua Mudse, John Rentner, Dick Wandtke, and Aaron Weimer. They will serve through the end of the 2009 term.

Mr. Mudse is Vice President and a financial consultant at Charles Schwab & Company. Mr. Rentner owns Rentner Lumber & Supply Company, a long-time Sylvania business. Mr. Wandtke, a former SCIC Executive Committee member, is with Louisville Title, the last locally-owned title agency in Lucas County. Mr. Weimer is with the State Bank and Trust Company, which will host a public open house later in 2008.

In a related matter, the SCIC Board initiated the application process for its new Link Deposit Program. This allows Sylvania area companies to access business loan assistance to expand facilities, increase employment, and enhance economic activity. The SCIC allocated $250,000 to the fund for the balance of 2008.

Linked Deposits work as follows: the SCIC will receive 3% reduced earnings on its Certificates of Deposit at area banks as long as the bank passes along the 3% savings to the company or participant via a reduced loan interest rate. The program has a $50,000 maximum allocation per project, with special consideration to proposals leading to job creation and economic impact in the Sylvania area. Companies receive emphasis if they apply in partnership with the Lucas County or State of Ohio Linked Deposit Program.

For information or to apply, contact the SCIC office at 419-842-8108.  You may also access the flyers and applications from our financing information page here.

The SCIC serves the Sylvania School District, City of Sylvania, Sylvania Township, private businesses, and development projects since 1968. The non-profit organization formed to benefit the tax base of the Sylvania School District. Its long-term philosophy is strong schools equate to a strong community for business purposes and quality of life. The Sylvania Area Community Improvement Corporation – Staying Strong for Sylvania!

Print Friendly Version

30