Seeking to promote economic vitalization and community development, the leaders of the Jamestown S’Klallam tribe established an Aboriginal community development financial institution.
And they have a local resident to run it.
Johanna Bartee, former Investment Banker, Commercial Lending Officer and Project Manager with a background in technology solutions serving government clients, has been selected by the Jamestown S’Klallam Tribe’s Economic Development Authority to lead the new Jamestown entity in as executive director, tribe officials announced in September.
Community Development Financial Institutions (CDFIs) are financial intermediaries that provide credit and financial services to underserved markets and populations, said Bartee.
In addition to promoting the region’s economy and community, the Jamestown CDFI is designed to support the tribe’s overall economic development strategy by creating and supporting business opportunities that benefit the people of Jamestown as well as the community. Olympic peninsula as a whole.
A regular in the area, Bartee grew up in Sequim and graduated from high school in Port Angeles. She completed her undergraduate studies at Washington University in Seattle and Stockholm University in Sweden, and obtained an MBA from Columbia University in New York.
Bartee has over 14 years of professional experience in project management, investment banking and most recently institutional banking. His banking career has served non-bank financial institutions such as brokers, insurance companies, registered independent advisers, hedge funds and private equity firms, with alternative asset lending products and high value business loan applications.
Bartee will work closely with the Board of Directors of the Economic Development Authority: Jack Grinnell (Chairman), Matthew C. Adams (Secretary / Treasurer), Celeste Dybeck, Louis Kardonsky and LaTrisha Suggs.
“I am proud to join them,” said Bartee.
Incentives to invest locally have recently increased, tribe officials noted, when Governor Jay Inslee announced that much of the Olympic Peninsula is eligible for investment in the Opportunity Zone.
“Some census tracts of low to middle income people qualify for special tax benefits for people who invest in them,” Bartee said, making the peninsula a more attractive location for investors.
Bartee is responsible for the creation and development of the indigenous tribal CDFI; the first step, according to tribal officials, is to work with the Board of Directors of the Economic Development Authority and the tribal council on the form the institution will take, before applying for certification from the US Department of the Treasury .
CDFI can begin serving communities with services before it is certified by the Treasury, noted Bartee. With certification – a process that could take three to four years, Treasury officials note – the Jamestown CDFI would be eligible for various funding channels. This funding includes not only federal grants but also investment capital, including Community Reinvestment Act funding, tribe officials said. This funding encourages commercial banks to invest in local communities where their customers have bank accounts.
For more information on NCDFI, contact Bartee at jbartee @ james towntribe.org or 360-681-4650.
Jamestown Networks Adds Staff
Jamestown Networks recently announced the arrival of Debbie Madden as the new Account Manager.
A longtime Pacific Northwest resident with 35 years of professional and technical experience, Madden is active in the community as a volunteer, consultant or board member of several nonprofit organizations. She is also the general manager and organizer of the Sequim Lavender Festival.
Jamestown Networks (JNET) is an Internet service provider providing business and enterprise class broadband services throughout Washington State. JNET is a Jamestown S’Klallam tribal company wholly owned in Sequim.
In his role as Account Manager, Madden will manage and serve clients as well as marketing projects to grow the business. It will focus on rural and tribal communities with access to the Northwest Open Access Network (NoaNet), a nonprofit wholesale telecommunications company in Washington state.
Many rural entities in the state, especially tribes, are looking to organize and fund broadband installation projects in their communities, representatives of the Jamestown S’Klallam tribe said. JNET helps them not only as an internet service provider with broadband services, but also in grant writing, project organization, community engagement / marketing, and planning.
JNET’s clients include schools, libraries, city and county governments, tribal governments, commercial enterprises, and state agencies.
For more information, see www.jamestownnetworks.com or call Madden at 360-582-5796.