Business Committee Closes First Resort Loan

On January 29, 2001 Chairman Jack announced the receipt of the first loan of $6 million from Miller & Schroeder Investments Corporation of Minneapolis, MN to the Big Valley Rancheria.

This loan for the Konocti Vista Casino allows for the purchase of 350 Nevada style coin slots that meet the requirements of the State Gaming Compact, installation of a computerized tracking system for the implementation of a Players Club, upgrades to the existing facility, architect/general contractor/engineering fees for design and bidding for the new resort facility and the purchase of licenses for additional slot machines for the new Resort to be built in the future.

Upon confirmation of the loan disbursement, Chairman Jack stated,

"This is just one more step in a journey towards the implementation of our lakefront resort approved by the Tribal Members in Spring of 2000. This loan process has been a learning experience for the Tribal Business committee and staff but will allow us now to move quickly towards the larger construction loan for our new 130,000 sq. ft. Resort that will include an expanded casino, 250 seat buffet restaurant, 100 seat 24-hour restaurant , 100 room motel and marina. We are pleased with the services of our lender, Miller & Schroeder, Westamerica Bank of Lakeport in their commitment as our collection bank, and our Attorney, Anthony Cohen of Santa Rosa."
Steve Erickson, Managing Director of Miller & Schroeder said,

"We are quite pleased with our relationship with the Big Valley Band of Lake County. They have good tribal staff/leadership capacity; they are building a good management team at their existing Casino and will soon be ready for their big expansion. We look forward to a long term relationship with the Tribe and are very excited about the Resort Project."

February, 2001