PEOPLE PROPEL CATALOG

Attached (on the bottom) is CVRF's People Propel Catalog. The deadline to apply is January 31. CVRF residents are encouraged to apply for this program.

The following is the overview message from John O. Mark:

People Propel™ Overview
The new Coastal Villages “People Propel™” Program was created by the CVRF Board of Directors to meet the demand of the residents of our 20 member villages for safer, more fuel efficient and environmentally cleaner outboards and boats. The People Propel™ Program will also assist CVRF residents in buying new fishing nets and commercial fishing permits. By bulk-purchasing boats, motors and nets, CVRF is achieving economies of scale and bringing down prices for our residents. Additionally, Coastal is contributing CVRF resources to make the prices lower. Residents can expect prices for the People Propel™ boats, motors and nets to be significantly below retail prices and to include transportation to their villages. Fishing permits will not be subsidized, but the People Propel™ Program low-interest loans will be available to purchase permits.

The CVRF Board has approved $1 million in People Propel™ Program low-interest loans to enable qualified applicants from our region to buy boats, motors, nets and permits. Subject to credit approval, the loans are open to all residents of CVRF’s member villages, whether a commercial fisher or not. For commercial fishers, the loans can be paid back through deductions from fish tickets for deliveries to Coastal Villages Seafoods. For others, the loans must be paid back in regular installments. The interest rate on the loans will be 3% annually, and the loans must be paid back over no more than seven years.

This catalog describes the key terms of the People Propel™ Program, including the prices for the new boats, outboard motors and fishing nets, and the terms for the loans. Fishing permits prices can be checked on the State of Alaska’s website or with private brokers. This catalog also has information about new commercial fishing opportunities that Coastal will be making possible in 2013, including in the herring fishery. It is worthwhile to consider these new opportunities in deciding whether to participate in the People Propel™ Program.

It is also important to consider the expected reduction in the 2013 halibut catch level -- perhaps as much as 67% -- before purchasing new equipment. Until the CDQ allocations are changed so that our residents get an equal share of CDQ halibut, Coastal’s residents will feel the anticipated halibut reduction even more acutely.

A People Propel™ application is provided for CVRF residents in this catalog for the purchase new nets, boats, motors or permits. Residents do not necessarily have to use the loan program to participate and may instead use other means to pay for People Propel™ boats/motors/nets, including other lending sources or use of personal funds. Residents may also use the People Propel™ loans for boats, motors and nets from other vendors not listed in this catalog or for used equipment from private parties, although Coastal is only able to provide the discounts on the products in this catalog.

As with other Coastal Villages programs in our region, the People Propel™ Program is made possible by Coastal’s participation in the Bering Sea fisheries, particularly the Bering Sea pollock fishery. We are hopeful the new People Propel™ Program will be well-received and we are grateful that the Bering Sea resources continue to make new initiatives like this possible for our people.

Applications for the first round of the People Propel™ Program are due on Thursday, January 31, 2013. Please review the particulars in this catalog carefully and feel free to talk with your local CVRF Community Service Representative or call Coastal at 888-795-5151 or 907-278-5151 if you have any questions.

Quyana,

John O. Mark, President
Coastal Villages Region Fund