2015 MEDC Annual Report

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Milwaukee skyline (circa 1970s)

Corporation (MEDC) is a non-stock, not-for-

lender in thousands of projects in the Milwaukee area. All together, these projects have generated over $1.7 billion of new investment and tens of thousands of jobs for Milwaukee area residents.

1971

1972

1974

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1978

The City of Milwaukee, using funding from its Community Development Agency, provided MEDC with $200,000 of match funding to use with the SBA 502 Loan Program.

Since 1971, MEDC has been a participating

The Small Business Administration (SBA) approves MEDC to participate in the SBA 502 Loan Program. The program provided funding to MEDC to increase its lending capacity.

Milwaukee.

Changed name from Milwaukee Model Cities Development Corporation to Milwaukee Economic Development Corporation (MEDC).

seek to expand or retain jobs within the City of

The Milwaukee Model Cities Development Corporation receives initial funding of $350,000 in federal funds.

market interest rate loans to businesses that

MEDC founded as the Milwaukee Model Cities Development Corporation. The corporation was organized by city and business leaders to promote business development in Milwaukee.

profit 501(c)(3) corporation that provides below

1979

Since its inception in 1971, MEDC has provided financing assistance for nearly 2,200 projects, lending nearly $309 million.

These projects have totaled over $1.7 billion in total investment into the community.

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MEDC and the City of Milwaukee’s Department of City

The Milwaukee Economic Development

1

MEDC partners with the Milwaukee Redevelopment Corporation on a pilot program to use $200,000 in order to provide bonding for Minority Business Enterprise contractors that are unable to obtain bonding on their own. This allows contractors to bid on jobs they previously could not participate in.

SBA approves MEDC as a Certified Development Corporation under the 503 Debenture Loan Program.

1980

1980

1981

MEDC funded its first tech company loan in 1984 to Tyton Corporation. Today, the manufacturer is known as Hellerman Tyton, and MEDC has assisted with additional financing for a $25 million, 200,000 sq. ft. building. The company provides more than 250 jobs in the Milwaukee market.

MEDC Board of Directors establishes its Loan Loss Reserve policy at a minimum of 5% of outstanding loan balances.

MEDC and the City of Milwaukee’s Department of City Development partner to receive a $1.82 million Urban Development Action Grant from HUD, which is lent to a downtown development project.

with the SBA 502 Loan Program.

970s)

Serving on the loan committee in 1986 for MEDC and MMEC were ( front row, left to right): Richard Weiss, Edward Stevens and Anthony DiCastri, and (back row) Wesley Scott and Robert Banner.

1982

In addition, MEDC has closed and funded over $175

continue its important work in leveraging and

million in New Markets Tax Credit transactions,

facilitating new business development projects well

on.

which have provided financing for more than 50

into the future.

on

businesses in Milwaukee. Working together with our many partners around the region, MEDC will

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Established a joint venture with the Redevelopment Authority of the City of Milwaukee (RACM) for redeveloping the Schlitz Brewery Complex.

Partnering with the City and RACM, MEDC launched the Job Opportunity Bond Fund Program.

Launched the Capital Access Program, which has assisted over 1,000 small businesses.

Celebrated 25 years, having served over 800 businesses to date that have in turn invested $626.4 million in total project financing in Milwaukee.

Merger of Milwaukee Economic Development Corporation and MMEC. By assisting a developer with financing, MEDC participates in its first real estate development project.

1985 1988 1989 1991 1996 1997 1998

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MEDC provides the City of Milwaukee and its Redevelopment Authority with a $1.55 million contribution to the redevelopment efforts in the Menomonee Valley Industrial Center.

Creation of a two-tiered corporate entity known as MEDC for direct lending and Metropolitan Milwaukee Enterprise Corporation (MMEC) for SBA loans.

1984 Launched the MEDC website (www.medconline.com).

MEDC launches a loan program for businesses called the Second Mortgage Program using funds obtained from a variety of federal grant programs.

Helwig Carbon Products and A .L. Schutzman Co. were early recipients of the City’s Job Opportunity Bond Fund Program.

M Pr of an ad gr

2000 2003

Through a joint venture with the Redevelopment Authority of the City of Milwaukee (RACM), MEDC assisted in providing $10.4 million in total financing for the initial phases of the redevelopment of the Schlitz Brewery Complex into office and retail space.

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In 1993, MEDC provided a loan to Will’s Roadside Farm Market.

Today, we know the business as Growing Power.

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Reached milestone of assisting in $1 billion in total project investment.

Received first New Markets Tax Credit allocation for $18 million.

MEDC, with the assistance of the CohnReznick Group, creates a revolving loan fund using New Markets Tax Credits. M&I Bank (BMO Harris Bank) purchased the tax credits. The fund made 22 loans ranging from $100,000 to $6 million.

3

Assisted RACM in securing $2 million in U.S. EPA Brownfields Grants to be used for assessment and remediation efforts on brownfields sites throughout the City.

Menomonee Valley Industrial Center.

MEDC provided a loan to El Rey Mexican Products in 1994 to assist with the opening of a new store location. Since 1981, El Rey and its related businesses have received eight additional loans from MEDC to assist with growth in various segments of the business.

2004

2005

2006

MEDC provided financing of $450,000 in 1997 to Alterra Coffee Roaster to purchase a new building and equipment.

As the company continued to expand over the years, MEDC provided additional financing of $1.4 million.

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MEDC awarded a $50 million allocation of New Markets Tax Credits. The allocation assists M&I Bank, U.S. Bank, and Citizens Bank of Mukwonago in funding projects for: Discovery World, Palermo’s Pizza, and the P.H. Dye building.

MEDC awarded a $25 million allocation of New Markets Tax Credits. The allocation assists the City of Milwaukee, the Redevelopment Authority, and U.S. Bank in funding projects at the Century City Business Park and the Villard Library. MEDC receives first Financial Assistance grant from the U.S. Treasury for $750,000.

MEDC awarded a $14 million allocation of New Markets Tax Credits. The allocation assists JPMorgan Chase Bank in funding Ingeteam’s new facility in the Menomonee Valley.

MEDC receives second Financial Assistance grant from the U.S. Treasury for $750,000.

MEDC receives third Financial Assistance grant from the U.S. Treasury for $1.5 million.

MEDC awarded a $40 million allocation of New Markets Tax Credits. The allocation assists Johnson Bank and PNC Bank in funding Rexnord/Falk’s plant reconfiguration, as well as MEDC’s second revolving loan fund.

MEDC receives fourth Financial Assistance grant from the U.S. Treasury for $1,053,806.

In 2007, Gestra Engineering expanded their business and moved from Waukesha to Milwaukee. MEDC provided financing for the new building and for renovations.

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W l D t i P M

Miller Bakery first borrowed from MEDC in 1975. Since 2002, MEDC has provided five additional loans to the company supporting its growth into the pretzel bun market with its own brand name, Pretzilla.

2008 2009 2010 2011 2012

In 2013, MEDC provided financing to Argon Industries to install a $1.5 million powder coat system in its new facility in Milwaukee at 11500 W. Brown Deer Road.

MEDC provided $6 million in direct financing to Palermo’s Pizza, a local manufacturer and distributor of frozen and private label pizzas nationwide and the first business to go into the City’s Menomonee Valley Industrial Center, for the building of a manufacturing and office facility. In 2010, MEDC assisted in financing part of the $22 million expansion of the building.

Today, Palermo’s employs over 700 people.

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MEDC awarded a $28 million allocation of New Markets Tax Credits. The allocation assists EB-5 investors and PNC Bank in funding the first new building in the former Pabst Brewery complex, the Pabst Professional Building.

MEDC utilizes NMTCs to assist JPMorgan Chase Bank in financing an expansion at Charter Wire. MEDC’s annual loan volume exceeds $30 million for the first time in its history.

MEDC utilizes its remaining NMTCs to fund third revolving loan fund with the assistance of PNC Bank. Annual loan volume exceeds $20 million for the second consecutive year.

Treasury for $1,053,806.

With the assistance of a loan from MEDC, Purple Door Ice Cream was able to open its first scoop shop in the historic Walker’s Point neighborhood of Milwaukee in April 2014.

2013

2014

2015

Our approach to lending and our commitment to supporting Milwaukee area businesses will remain steadfast.

MEDC will continue to provide the financial resources companies need to grow. Our investments benefit Milwaukee through new employment opportunities, job retention, and neighborhood stabilization.

2016 James, Clifton and Jalin Phelps purchased a commercial building on MLK Drive for the new headquarters for JCP Construction. MEDC provided financing for the building and the renovations in 2015.

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TO THE

FRIENDS, PARTNERS, & INVESTORS OF MEDC 2016 marks an important year for MEDC as we celebrate 45 years of serving Milwaukee businesses. Thank you to all who have helped MEDC reach this point.

In 1971, local government, lenders, and businesses came together to form the Milwaukee circa 1970s

Model Cities Development Corporation (MMCDC). Led by Daniel Boyce and Richard Cecil from the City of Milwaukee, Wesley L . Scott from the Milwaukee Urban League, John H. Kelly from Midland National Bank, and John D. Finerty from the law firm Samson, Friebert, Sutton, and Finerty, the public-private partnership was born. Its purpose was to provide a flexible funding source in the form of at-risk capital which under normal circumstances, is supplied by the owners of a business in a nimble manner. In 1974, MMCDC changed its name to the Milwaukee Economic Development Corporation (MEDC). Today this public-private partnership has grown to become a $200 million nonbank business lending agency.

In 2015, MEDC’s direct lending activity exceeded $20 million, including closing a $15.5 million New Markets Tax Credit transaction for a new building in the former Pabst Brewery, the Pabst Professional Building. These projects retained over 1,400 permanent FTE’s and anticipated creating over 450 new permanent FTEs. We continued our focus on manufacturing, with 42% of the loans being made to manufacturers. We further continued our focus on lending to businesses located in targeted geographic areas as defined by the U.S. Treasury, with 90% of our loans being made in these areas.

circa 1970s

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2015 marked the year our loan portfolio exceeded $80 million, with a remarkable charge off rate of 0.07%. This is a clear indication of the partnership that is formed by MEDC, the borrower, and the lead lender when a loan is closed. The key to success is ensuring that all parties are focused on minimizing losses by keeping businesses operating.

Activity continues to be brisk in 2016. We continue to see loan requests from manufacturing businesses that are seeking to expand or upgrade equipment and facilities. The businesses range from traditional manufacturing to breweries, distilleries, and food production, all which are significant contributing industries for the Milwaukee 7 Region.

In 2016, we were deeply saddened by the passing of one of our long-time board members, Fred Luber, the Chairman of Super Steel. Fred served MEDC for nearly 37 years. His dedication to MEDC, as well as the dedication of all of our board members, is the reason MEDC has grown and made the impact it has to the community over the past 45 years.

We would like to take a moment to recognize all the people who have helped MEDC become the resource it is today. Without the help of our organizers, past and current board members and employees, current and future lenders, and the businesses that contribute to the economic growth of the Milwaukee 7 region, we would not have been successful the past 45 years. We look forward to what the future will bring with all your help. Thank you.

David E. Latona M ED C P R ES I D EN T

Timothy Sheehy MEDC Board Chairman President of the MMAC

For 45 years, the Milwaukee Economic Development Corporation has partnered with growing businesses and local financial institutions to make our economy stronger. MEDC is invested in our community, and that means more Milwaukee residents have good jobs, more business owners are earning profits, and the entire community enjoys more commercial activity.

MEDC team members, including its board and its staff, share a vision for a thriving local economy. Their work is making a difference right now – and will

circa 1970s

continue to make a difference for decades to come.

Tom Barrett m ayo r

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GROWTH

IN OUR COMMUNITY

2015 In 2015, MEDC continued to diversify its growing loan portfolio. By helping to expand the Milwaukee business base, there is a positive ripple effect throughout the entire community and region.

GROWTH IN OUR BUSINESS Since 1971, MEDC has worked with over 100 local, regional, and national banks.

Some have come and gone, many have changed names and the landscape continues to change today. Here are some of the banks MEDC has partnered with in its 45 years.

Commerce State Bank

Legacy Bank

PNC Bank

Community Bank & Trust

Liberty Bank

Port Washington State Bank

Continental Savings Bank

Lincoln Neighborhood

PyraMax Bank

Cornerstone Community Bank

Redevelopment Corp.

Ridgestone Bank

Delafield State Bank

Lincoln Savings & Loan

Securant Bank & Trust

F&M Bank

Lincoln State Bank

Silicon Valley Bank

First Bank

M&I Marshall & Ilsley Bank

South Milwaukee Savings Bank

1st Federal S&L

First Bank Financial Centre

M&I Northern Bank

Southport Bank

1st Interstate Bank

First Business Bank

M&I Bank

Spring Bank

1st Wisconsin National Bank

First Interstate Bank of Wisconsin

Marine Bank

St. Francis Bank

American Chartered Bank

Firstar Bank

Maritime Administration

State Bank of Chilton

American National Bank

Fleet Capital Corp.

MB Financial Bank

State Financial Bank

Anchor Bank

Foundations Bank

Milwaukee Western Bank

Summit Credit Union

Associated Bank

Grafton State Bank

Mitchell Bank

Sunset Bank

Bando McGlocklin Capital Corporation

InvestorBank

MW Bank

TCF National Bank

Bank Mutual

Investors Community Bank

National Bank of Canada

The Private Bank

Bank One

Ixonia Bank

North Mill Capital

Town Bank

Biltmore Investors Bank

Johnson Bank

North Milwaukee State Bank

Tri City National Bank

BMO Harris Bank

JP Morgan Chase Bank

North Shore Bank

University National Bank

Chase Bank

Kilbourn State Bank

Northbrook Bank & Trust Co.

US Bank

Citizens Bank

KK Federal S&L Assoc

Northern Trust Bank

Valley Bank

Citizens Bank of Mukwonago

Landmark Credit Union

Norwest Bank

Waterstone Bank

Citizens First State Bank

LaSalle National Bank

Ozaukee Bank

Waukesha State Bank

Colonial Bank

Layton State Bank

Park Bank

Wells Fargo Bank

Columbia Savings & Loan

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41.2%

29.4%

11.8%

5.9%

service

food & beverage

29.4%

construction retail

202,098

224,043

197,150

152,073

171,107

159,016

178,822

TOTAL ASSET AND FUND BALANCE GROWTH

216,595

tenant

MEDC has grown significantly since its inception in 1971 with

which includes its New Markets Tax Credit entities, surpassed the

TOTAL ASSETS (IN THOUSANDS)

53,100

In 2014, MEDC’s Total Assets,

$200 million mark. In 2015, its

49,700

its original funding of $350,000.

also exceeded the $200 million level. Fund balance, also referred

FUND BALANCE

31,900

New Markets Tax Credit entities,

(IN THOUSANDS)

and liabilities, which is generally considered a key indicator of a

1972

2,900

between a non-profits’ assets

4,600

to as Net Assets, is the difference

29,500

Fund Balance, also including the

350

Bank

11.8%

41.2% MANUFACTURING

350

nk

5.9%

1982

1992

2002

2012

2013

2014

2015

company’s strength.

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2

3

PROJECT HIGHLIGHTS

2015

2

The businesses we supported in 2015 range from traditional manufacturing to breweries, distilleries, and food production, all of which are significant contributing industries for Milwaukee and the region.

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3

5

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JCP CO NSTRUCTI O N LLC JCP Construction LLC, was founded in January 2008 by the Phelps brothers, James, Clifton, and Jalin.

The company’s initial focus was multi-family home renovations. In 2009, the company matured into a commercial construction company with a focus on self-performing, selective demolition, cast-in-place concrete, and carpentry projects. MEDC, along with Pyramax Bank, financed the purchase and renovations of the company’s new building on MLK Drive for its day-to-day operations, as well as to provide tenant space for a long-established Milwaukee non-profit entity. JCP currently employs 16 people, and plans to hire two more full-time and one part-time position over the next two years.

MILWAUKEE BREWING COMPANY Started in 1997 by James McCabe, Milwaukee Brewing Company is located in Milwaukee’s Walker’s Point neighborhood. After years of steady growth, Milwaukee Brewing Company had the opportunity to purchase the property in which the brewery operates under the real estate holding company, MBC Properties, LLC. MEDC and Spring Bank financed the purchase, which also included adding additional cooler equipment.

Currently, Milwaukee Brewing Company employs 35 people with anticipated growth of nine employees in the coming years.

O RCHARD STREET PRESS, LLC Orchard Street Press was started by owners Julie and Whitney Teska in 2008 in a small farmhouse on Milwaukee’s Orchard Street. The company provides highquality and environmentally-conscious screen printing to the Milwaukee area. In 2010, Orchard Street Press moved to an industrial building to begin its screen-printing business full-time. In 2014, to accommodate further expansion, the company leased an 11,000 sq. ft. building in Saint Francis. MEDC financed the demolition and leasehold improvements to this new space. Orchard Street Press currently employs 10 full-time employees, with plans to add 10 full- and two part-time employees in the next two years.

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4

M I DWEST STAI RS & I RO N, I N C.

5

H I LM OT, LLC

Midwest Stairs & Iron, Inc. was founded by Howard Wurgler in 2006. Midwest Stairs & Iron specializes in fabricating self-supporting bolt on aluminum balconies, steel stairs and railings, and miscellaneous architectural metal products. Steady growth created the need for expansion. The company, 8111 Bradley, LLC, an entity with common ownership to Midwest Stairs & Iron, purchased a second location on 81st and W. Bradley Road using a combination of bank debt and MEDC financing. The second location allowed the company to segregate steel work and aluminum work, as the processes and material handling needs are different for each product line. Midwest Stairs & Iron employs over 30 individuals, with expectation to increase its workforce by nearly 30 percent in the upcoming years.

Hilmot was founded in 2005 by Tony Hill and Mark King after they purchased the assets of Midwest Conveyor Systems. The company designs and builds Motorized Drive Roller (MDR) conveyor systems, primarily for the manufacturing and distributing industries. The company moved its headquarters and operations from multiple Waukesha facilities to a single Milwaukee location because the new building provided a more efficient space for the company to grow. MEDC, along with BMO Harris Bank, assisted in financing the purchase and renovations of Hilmot’s new location. The company currently employs 113 full- and 15 part-time employees, and has plans to hire 30 more full-time employees in the next two years.

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wo rldwi d e market LLC Historic Mitchell Street Retail Center LLC purchased the real estate and adjacent parking lot located at 1101-1113 W. Mitchell Street to open a full-service specialty grocery store. The building is a former Walgreens store that had been vacant for five years.

MEDC financing was used to assist with purchasing equipment, leasehold improvements, and working capital. The loan is guaranteed by the SBA under its Community Advantage program. The project provided 16 full-time jobs and 16 part-time jobs. In two years, the company is projecting to add another 10 parttime jobs.

K-3 CENTERLESS GRINDING, LLC/MILWEST PRECISION MACHINING, INC. K-3 Centerless and Milwest Precision, owned by Walter Kowalczyk, are metal grinding and metal machining businesses respectively. K-3 Centerless has been in business for 17 years, and does metal grinding work for Milwest and other local manufacturers.

Milwest, a CNC machining business that produces a variety of metal machined parts, was purchased

by Mr. Kowalczyk in 2011. MEDC, along with First Bank Financial Centre, financed the purchase and renovations to a building that allows for both companies to operate under one roof, and also affords some room for growth. The companies employ nine people, with plans to hire four full- and two part-time positions over the next two years.

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saz's cateri n g, i n c./ saz's festivals, llc Saz’s has been a Milwaukee staple since owner Steve Sazama opened Saz’s State House in 1976.

Since the restaurant’s inception, Saz’s has also grown into the state’s largest off-premise catering company via Saz’s Catering, Inc. In 2015, Saz’s had the opportunity to purchase and renovate a 28,000 sq. ft. building in Walker’s Point to house the operations of Saz’s Catering, Inc. and Saz’s Festivals, LLC. The new property has multiple functions, serving as a commercial kitchen and providing over 16,000 sq. ft of warehouse and storage space. The property was also renovated to include 7,000 sq. ft. of office space. MEDC and Bank Mutual financed the property purchase and renovations. Globally, Saz’s employs 215 people with plans to hire 35 more employees in the coming years.

scAthai n, llc Scátháin, created in 2008, is the result of a 23-year career as a painting contractor by its principal owner, John McWilliams. Experiments with metal patinas, mirror silvering techniques, along with an Iron Horse Hotel project in 2008, helped Mr. McWilliams transition from painter to furniture manufacturer.

The product lines developed are high-end pieces with certain uniqueness in each, based on materials and techniques used. The company specializes in mirrors, handmade one-of-a-kind furniture, and unconventional metal patinas and artistic accents.

MEDC and Ixonia Bank provided working capital and financed the equipment needed to expand Scátháin’s product line and grow the business. The company has seven full- and 14 part-time artisans, with plans over the next two years to hire 10 full-time and 10 parttime employees.

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MEDC

LOANS financed IN

2015

MEDC provides financing through the following programs: the Second Mortgage Program, the Capital Access Program, the Venture Debt Program, the New Markets Tax Credit Program, the Milwaukee County Revolving Loan Fund and the SBA Community Advantage.

MEDC continues to offer below market interest rate financing to businesses in the City of Milwaukee.

In return, our loan customers create jobs and add to the vitality of the economy and the region. We have consistently increased our loan volume each year due to our strong partnerships with the lending community.

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MEDC second mortgage program HK VENTURES, LLC/hilmot, llc $1,160,000 Real Estate Purchase BMO Harris Bank

century city 1, llc $3,500,000 New Construction Park Bank

2701 investments, llc/ grover corporation $120,000 Real Estate Purchase Bank Mutual

hispanic chamber of commerce of wisconsin, inc.

mti connect, llc $700,000 Equipment Purchase North Mill Capital

225 E. MICHIGAN ST, LLC $1,980,000 Building Renovation Pyramax Bank

SCATHAIN, LLC $220,000 Equipment Purchase Ixonia Bank

sdi holding co, llc/pierce engineers, inc. $500,000 Real Estate Purchase Waukesha State Bank

GNA.WLZ LLC

$50,000 Revoloving Loan Fund WEDC/Associated/Town Bank

$150,000 Leaseholds/Equipment Associated Bank

new canaan international academy, inc.

milwaukee cOUNTY REVOLVING LOAN FUND

$195,000 Real Estate Purchase Park Bank

saz's catering, inc./ saz's FESTIVALS, LLC $1,084,000 Real Estate Purchase Bank Mutual

integrated mail industries, ltd. $1,500,000 Working Capital Town Bank

quantam technologies 2 llc $55,000 Working Capital Associated Bank

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ivancevic re llc/ midwest fiber networks, llc $600,000 Real Estate Purchase Park Bank

nEW MARKETS TAX CREDIT mlk 1849 llc/ jcp construction llc $250,000 Real Estate Purchase Pyramax Bank

cbb investments llc/ antiques on pierce llc $600,000 Real Estate Purchase Marine Bank

k3 companies, LLc/k3 centerless grinding, llc $190,000 Real Estate Purchase First Bank Financial Centre

E.R. wagner manufacturing company $2,000,000 Equipment Purchase BMO Harris Bank

8111 bradley, llc/midwest stairs & iron, inc. $360,000 Real Estate Purchase Westbury Bank

S&A oil marT, llc/ A&s oil mart inc.

SIC lazaro u.s. inc. $400,000 Real Estate Purchase Banco Sabadell

susio, llc/EL bodegon , llc $272,000 Real Estate Purchase Tri-City National Bank

malena hawley llc/ ultra incorporated $104,000 Real Estate Purchase Park Bank

sba COMMUNITY ADVANTAGE orchard street press, llc $175,000 Leaseholds/Equipment

top tier properties llc

$260,000 Real Estate Purchase State Bank of Chilton

$122,000 Real Estate Purchase

mbc properties, llc/ milwaukee brewing company

$240,000 Real Estate Purchase

$241,200 Real Estate Purchase Spring Bank

SIC lazaro u.s. inc. $700,000 Working Capital Banco Sabadell

Maynard steel casting company $650,000 Refinance Term Debt Ixonia Bank

wyeast pizza llc

historic mitchell street retail center llc $250,000 Equipment Purchase Wisconsin Bank & Trust

venture debt motivo, inc. $150,000 Working Capital

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2 0 1 5 CAPital access PROGRAM The MEDC Capital Access Program provides financing to start-ups and small businesses through a flexible loan-loss reserve that allows lenders to fund projects traditionally considered too risky for conventional lending.

Kettle Moraine Emergency Medical Services, Inc. $20,000 John Meehean DBA John’s Drive-In $5,000 Church and Chapel Funeral Services, Inc. $65,000 Jon M. Archimede DBA Jest for Fun Joke Shop $10,000 WEMB Enterprises LLC $24,870 E & H Services LLC $40,000 Carter Williams Charities, Inc. $12,000 Partners Protection Systems, LLC $100,000 J&M Services, LLC $8,000 Colordyne Technologies, LLC $400,000 D&J Culver, Inc. $6,000 La Quesadilla Co. $15,000

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Steven T. Kron $5,000 Flattop Transport LLC $40,900 Patriot Products, Inc. $100,000 Hank’s Transportation Co., Inc. $75,000 Moreland Medical Laboratory, LLC $50,000 Moreland Medical Laboratory, LLC $75,000 Flattop Transport LLC $70,000 J & M Services, LLC $3,700 Muskego Tire & Auto LLC $63,530 Frantl Industries, Inc. $74,895 Fischer Construction LLC $107,500 The Mudjackers, LLC $10,000 Kettle Moraine Health Center, S.C. $25,000

Midwest Accounting of West Bend, Inc. $50,000 First Star Media, LLC $18,270 Cooperating Churches of Sussex, Inc. $15,000 Badger Orthotics, LLC $50,000 The Mudjacker LLC $15,000 We Haulin’ LLC $31,129 Ray-Mar Corp. $54,000 Orion Hardwood Floors, Inc. $30,000 The Mudjackers LLC $20,000 John Meehean DBA John’s Drive-In $5,000 KCJ Lighting & Electric Supply Inc. $50,000

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2 0 1 5 BOARD MEMBERS David E. Latona

Timothy R. Sheehy (1)

President, Milwaukee Economic Development Corporation

MEDC Board Chairman President, Metropolitan Milwaukee Association of Commerce

Mark Lemke (1, 2, 3, 4)

Tom Barrett (1)

President – Wisconsin Market, The PrivateBank

Mayor, City of Milwaukee

Fred Luber (1) Chairman, Super Steel Products

Steve Barth (2)

Amelia E. Macareno (2)

Attorney at Law, Foley & Lardner, LLP

Private Banking Relationship Manager, US Bank, N. A.

Martha Brown Deputy Commissioner Dept. of City Development, City of Milwaukee

David D. Clark (2, 4)

Richard "Rocky " Marcoux Commissioner Dept. of City Development, City of Milwaukee

Robert B. Monnat (4)

Retired Senior Vice President, Real Estate, Northwestern Mutual

Partner/Chief Operating Officer, Mandel Group, Inc.

Carla Y. Cross (4)

Martin Matson (1, 3)

President/CEO, Cross Management Services, Inc.

Comptroller, City of Milwaukee

Joe Davis, Sr. (1, 4)

Tom O'Neill (1)

Alderman, 2nd District, City of Milwaukee

Consultant, BMO Financial Group

Samuel D. Dickman (4)

Julie A. Penman (4) President, Penman Consulting

Chairman, The Dickman Company, Inc./Corfac International

Perfecto Rivera (2)

Michael J. Dwyer (4)

Retired, Wisconsin Housing and Economic Development Authority

Attorney at Law, Godfrey & Kahn, S.C.

Robin Talbott (2)

John Galanis (3)

Vice President, Tri City National Bank

Attorney at Law, Galanis, Pollack, Jacobs & Johnson, S.C.

Patrick G. Walsh (2)

Michael Murphy (1)

Retired President, Milwaukee Economic Development Corporation

Common Council President Alderman 10th District, City of Milwaukee

Thomas D. Zale (1) Vice President, Real Estate, Northwestern Mutual

Paul Kleiner (2) Lending Consultant, Milwaukee Economic Development Corporation

COMMITTEES: 68875_AnnualReport.indd 19

1

Executive Committee

2 Loan & Finance Committee

3

Audit Committee

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