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Lincoln Trail ADD honored with NADO 2024 Impact Award


Elizabethtown, KY (Oct. 30, 2024)—The Lincoln Trail Area Development District (LTADD) has gained national recognition for its groundbreaking Local Government Revolving Loan Fund, a first-of-its-kind initiative in Kentucky that provides significant cost savings to local governments through low-interest loans.

 

Lincoln Trail Area Development District Executive Director Daniel London, left, presents Washington County Sheriff Jerry Pinkston and Washington County Judge/Executive Timothy Graves a check for $70,986 to purchase a new sheriff’s cruiser and necessary emergency equipment. The funding is available through LTADD’s Local Government Revolving Loan Fund.

The program’s innovative approach and substantial impact recently earned it a 2024 Impact Award from the National Association of Development Organizations (NADO), which recognizes outstanding efforts in regional economic and community development across the nation.

 

“Our Local Government Revolving Loan Fund demonstrates what can be achieved when we think creatively about how to support our communities,” LTADD Executive Director Daniel London said. “Receiving the 2024 NADO Impact Award is a tremendous honor and a testament to the dedication of our team and partners, who work tirelessly to provide local governments with the resources they need to serve residents effectively and sustainably.”

 

Launched in 2023, LTADD created the Local Government Revolving Loan Fund using $400,000 from the net sale of its former office on Elizabethtown’s College Street Road and $350,000 from savings. The program provides loans at 4% below the prime rate to local governments and their affiliates in emergency situations or when grant funding is unavailable.

 

In its first eight months, the program disbursed $358,596.23, saving recipients over $56,000 compared to traditional borrowing options. The fund’s flexibility allows for quick approvals by senior staff, making it particularly valuable in emergencies or catastrophic events.


Since its inception, two of the eight counties in LTADD’s service area (Breckinridge, Grayson, Hardin, LaRue, Marion, Meade, Nelson and Washington) have benefited from the program. LaRue County purchased $287,700 in road repair equipment, which would have otherwise exhausted its county road equipment budget. Additionally, the Washington County Sheriff’s Office received $70,896 through the program to purchase a new sheriff’s cruiser and necessary emergency equipment.


LTADD’s Local Government Revolving Loan Fund is one of 98 projects from across 21 states to receive a NADO Impact Award at its Annual Training Conference held in New Orleans Oct. 21-24. The NADO Impact Awards are presented in honor of the late Aliceann Wohlbruck who served as NADO’s first executive director for 24 years as a tireless champion for regional approaches to economic development in rural communities.

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