1 • Wednesday, April 17, 2019 - Shopper’s Guide
Serving the communities in Stephenson County
Lena Community Park District and Evangelical Free Church
Shopper’s Guide
VOL. 81 • NO. 16
YOUR FREE HOMETOWN NEWSPAPER
Lena Retreat undergoes a ‘changing of the guard’ EDITOR
After more than 20 years of offering a quality lifestyle the Lena Retreat, is experiencing a restructuring. The first residents moved into the facility in 1997, immediately following construction, which began in 1996. The Retreat was a long-envisioned, and purposefully planned residential housing project meant to provide for lower income residents of Lena needing affordable housing. Ben Mayer, former director and president of Lena State Bank, along with many others, was instrumental in making the project a reality all those years ago. Much of the projects’ success is due to the community members, such as Mr. Mayer, who have served on the Lena Special Properties Board and the Lena Community Trust Fund board over the years; always giving of their time and talent to help ensure that the property represented Lena well. Indeed, the project has been a proven success with an occupancy rate of over 98% over the past 10 years. Since inception of the project, ownership has been structured as follows: The Lena Community Trust Fund; the General Partner with 1% ownership is a non-for-profit 501C3 entity, Citizen’s State Bank; a limited partner with 49.5% ownership, and Lena State Bank; a limited partner with 49.5% ownership. “The Lena Community Trust Fund is filling in as the other limited partner, so as Lena State Bank transitions away from being a limited partner Citizens State Bank and the Lena Community Trust Fund will step in,” said Lena Retreat Board President Jason Kemple. “I think the actual change will be pretty seamless. I don’t think the change will alter, shake-up, or limit anything we are doing as we move forward.” He said the Lena Retreat has been operating well and continues to serve its originally intended purpose. “Lena State Bank has been a proud partner in the 24 unit Lena Retreat project for 22 years, said current
Lena State Bank director and President Curtis Derre.” “And, we’re even more proud to gift our 49.5% ownership interest in the project to the Lena community. Bank management and directorship believe a major part of our mission as a community bank is to invest in our community to help it grow and thrive, similar to Lena residents and businesses investing in their community banks, so that they may grow and thrive.” On last Wednesday, at a celebratory luncheon, in addition to gifting their ownership share back to the community, with Lena Community Trust Fund (LCTF) being the benefactor of the gift, Lena State Bank donated $45,000 to the LCTF to be used as the Lena Special Properties board sees fit in maintaining and improving the property into the future. “Lena State Bank has had the benefit of tremendous community support as it relates to our business, with 2018 being one of our best years ever,” Derrer said. “Lena State wants to be able to continue its long history of supporting and assisting this community – a community that shares our goals and dreams for what we can accomplish together. What better way to do that than to make an additional investment in a project that has provided such significant benefits to such a large number of Lena community residents over the last 20+ years? While the management and directors of the bank are excited to be able to return this project to the community, we also wanted to be able to do so while being able to offer a tangible gift that can be used into the future. It’s very important to us that this community project – started 22 years ago by visionaries here in Lena – be viable and beneficial long into the future and this donation is one way we can help to do that. Kemple said Lena Retreat is very appreciative of the donation. “I think we will be able to set aside the monies donated by Lena State Bank, so that we will have the
Over 6,000 Eggs • Ages 3 - 6th Grade Bring your Easter Basket and join us for a fun filled afternoon!
Saturday, April 20, 2019 • 1 p.m. Evangelical Free Church 720 N. Freedom St., Lena
343547
WEDNESDAY, APRIL 17, 2019
Accelerated reader recognized
COURTESY PHOTO Shopper’s Guide
Sally Monigold earned the honor of Assistant Principal of the Day at Lena-Winslow Elementary by reading books and accumulating 300 AR points this school year.
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