BLDC reports $474,900 in Anaconda Arco loan fund, six grants awarded; Praxis extension set for Feb. 18

Kelly Sullivan, a representative of the Butte Local Development Corporation (BLDC), told the Butte-Silver Bow Economic Development Committee on Feb. 4 that the Anaconda Arco loan fund has "$474,900 and some change" available and that BLDC clients recently received six grants.

Sullivan said three Rural Business Development grants submitted to the U.S. Department of Agriculture in February 2025 were finally awarded, and three Montana Department of Commerce rural-economies planning grants were also approved, together totaling about $100,000. "We got 6 grants awarded for our clients," she said, and she noted one Butte business received a $9,000 award for marketing and website work.

The report outlined BLDC outreach to industry: Sullivan said she attended the Photonics West conference with the Headwaters Tech Hub consortium to recruit photonics companies to the region, collecting a large stack of contacts though "nothing seemed concrete at the conference." She framed workforce partnerships as part of recruitment, saying she has met with the Butte School District about pathways programs to prepare students for incoming employers.

On loan programs, Sullivan described the Anaconda Arco fund as a revolving lending pool managed by BLDC under contract with Butte-Silver Bow. "It's a revolving loan fund," she said, explaining that repaid loans replenish capital for future borrowers. She added BLDC manages additional relending capital and said the organization currently has "a couple of million dollars in relending capital." Sullivan said loan requests outside normal parameters would be reviewed by the BLDC loan committee.

Sullivan cited the Praxis Center as an example borrower: she said Praxis has roughly $200,000 outstanding from the Anaconda Arco fund and is on an interest-only payment schedule. "He's making interest only payments, and he is coming before our committee on February 18," Sullivan said; if the loan committee grants an extension, she said BLDC would bring that decision before the county council as required.

Sullivan also reported BLDC's internal work: a Jan. 29 board retreat finalized a strategic plan, and she rescheduled a planned council presentation to March 4, when BLDC will also bring the Brownfields coordinator. She said BLDC's board will submit a letter supporting the Sabey data center ad hoc committee's request that the council consider extending a purchase-and-sale agreement; Sullivan said she would read that letter into the public record during the meeting's public-comment period.

Commissioners asked clarifying questions about Project Janicki site options, the Anaconda Arco fund's geographic limitations, and the mechanics of past loan extensions and construction financing; Sullivan said she would check loan-committee minutes and report back at the March meeting. The committee made a motion to adjourn and ended the session.

The BLDC will present the strategic plan on March 4 and the loan committee will hear the Praxis extension request on Feb. 18.