Community Development Services
An Economic Development Consulting Firm
3895 Main Street
Kelseyville, CA 95451
Phone (707) 279-1540
100 Sunrise Blvd Suite A
Colusa, CA 95932
Phone (530) 632-4725
Date: September 2012
Financing: CDBG $4.6 million and FCW $25.6 million
Client: County of Colusa
Amount: $4.6 million
Business type: Premier is primarily a mushrooms cultivator that specializes in the production of white and brown mushrooms including Portobello and Crimini varieties. Premier now employs over 225 full- time workers.
Services provided: CDS structured the refinancing of the business with Farm Credit West (FCW) and the California Department of Housing and Community Development (HCD). CDBG funds were applied to the principle balance owed by Premier on the existing term debt held by FCW. The debt restructure allowed FCW to provide additional financing for the construction of 16 new grow rooms. In addition, the restructure of existing debt allowed Premier to utilize its Line of Credit (LOC) from FCW for working capital needs and establish working capital reserves for operations. The result has been improved month-to-month cash flow for the business and retention of 166 jobs and the creation of 59 new full-time jobs in Colusa County.
Granzella's Restaurant & Deli
Date: June 2008
Financing: CDGB Over The Counter (OTC)
Client: City of Williams
Amount: $1.3 Million
Business type: A family-owned California Corporation established on Interstate 5 in Williams in 1976 by Jim Granzella. Granzella's is a unique landmark restaurant, sports bar, deli and speciality foods, and bakery. The business employs more than 100 people and generates 10% of the total sales tax for the City of Williams. Total sales exceed $7 million annually.
Services provided: Granzella's was completely destroyed by fire in the fall of 2007. Insurance covered everything but the furniture, fixtures and equipment. CDS prepared a loan proposal in the amount of $962,500 at a 3% fixed rate with a 20-year amortization schedule. We also prepared funding arrangements for a grant in the amount of $250,000 to the City of Williams for water line improvements. Granzella's reopened in early summer 2008.
Date: April 2009
Project: Clark’s Island Redevelopment Study
Clients: California Engineering Company
County of Lake
Project type: CDS performed the study, which included the determination of the feasibility to develop a small island in Clearlake, California, for Redevelopment and Private Sector consideration. The analysis included market feasibility, financial projections, surrounding land use, traffic and environmental concerns.
The evaluated scenarios included a commercial marina, community park, eco-park and a community event and recreation center.
The study has been accepted by the Lake County Redevelopment Agency and will be used as the basis for future site development.
Date: June 2010
Financing: CDBG & ARRA
Client: County of Mendocino
Amount: $2 million
Business Type: A family-owned California C Corporation lumber milling and brokering business established in 1978 and located in Ukiah. Agwood is primarily a redwood lumber mill that manufactures a variety of standard building and specialty wood products. It employs an average of 80 full-time workers.
Services Provided: CDS prepared the debt restructure resulting in conversion of a $2 million portion of an existing line of credit to a 20-year term loan priced at 2% fixed. The result was improved month-to-month cash flow and access to operating capital, as well as the expansion of the business.