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- EIN 84-1043508
- (719) 348-5596
- 128 Colorado Ave Stratton CO 80836-1152 USA
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Nonprofit Overview
Causes: Economic Development
Mission: Loans for low-income housing to individuals and businesses. Low-income loans and loan guarantees for housing rehab, business start-up and related support services.
Programs: Economic development programs - guaranteed and direct loans up to 150,000 to businesses; prairie development corporation may loan 20,000 per each fte position of which 51% must be offered or filled by low-moderate income qualified people. Prairie development corporation is not a primary lender and many loans are made in partnership with banks and/or other financial institutions in the local area. In addition, prairie development corporation is involved with the marketing of tourism to the region to bring dollars to the communities and to help support job stability. During 2017 six business loans were completed; one from community development block funds, two from revolved loan funds and three bil loans.
community housing programs - low or no interest loans to low-moderate income persons for rehabilitation of owner occupied housing. Prairie development corporation also has an emergency home repair loan program and down payment assistance loan program for first time homebuyers meeting low-moderate income guidelines. Prairie development corporation also purchases vacant single family homes in need of rehabilitation, making needed repairs and reselling them to first time homebuyers. Housing loans in 2017 consisted of five new loans comprised from one emergency loan, one rehab loan and three down payment assistance loans.
office and apartment rental - prairie development leases two apartments and sublets office space to the east central council of governments and the home agency (insurance company).