| Looking Out for Your Community |
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As Chief Financial Officer and Executive Vice President of the Bank of the Cascades, Greg Newton values his relationships with the community. It was at the heart of the bank's beginnings in 1975 when a group of 15 local business people recognized the need for local ownership in banking. And it was included in the company mission statement to "strive to build customer relationships by identifying needs and providing solutions."
So when the Bank of the Cascade was asked to partner with Central Oregon Community College (COCC), on a Business Energy Tax Credit, Newton was pleased to help. "It's hard for us to say 'no' to people doing great things for this community," said Newton. "And Central Oregon Community College does great things. It's a valuable resource for the region."
COCC, Oregon's oldest community college, is situated on 200 acres on the western slope of Awbrey Butte in Bend. The location affords spectacular views of the mountains from nearly every point, but little space for parking. There are 3,500 full-time students, another 6,500 part-time students, faculty and staff and only 1,850 parking spots. Only 115 students live on campus in a residence hall and there is no bus service.
The college has two shuttles to transport students around the hillside campus according to COCC Director of Student Services Gene Zinkgraf. One has special equipment to transport students in wheel chairs from class to class. The other 16-seat van, the "Campus Cruiser," makes three trips an hour from 7:40 a.m. to 4:40 p.m. five days a week around the campus and down to the bottom of the hillside to a designated pick-up spot.
The cost of providing the shuttle services qualified for a Business Energy Tax Credit. The shuttles are estimated to reduce vehicle miles by nearly 22,000 miles annually. The Bank of the Cascades stepped up to accept the tax liability for the shuttles. The cost of providing the two shuttles was $24,000 for a year. Bank of the Cascades presented the college with a check for $8,040 (33.5 percent of the eligible costs) and received the 35 percent tax credit.
"The Department of Energy has many other opportunities for banks and other businesses to partner with their non-profits and public entity customers in Bend and other Oregon communities," said Kathy King with the Oregon Department of Energy. "It's a great way for businesses to help their communities and save energy during this tight economy. We hope others will call us to learn more."
Visit the Department of Energy Web site at www.energy.state.or.us/bus/tax/pass-through.htm or call 1-800-221-8035.
Central Oregon Community College (COCC) Director of Student Services Gene Zinkgraf (standing left) accepts a check from Bank of the Cascades Chief Financial Officer Greg Newton (standing right) at a COCC Board meeting. The college transferred a Business Energy Tax Credit to the Bank in exchange for the cash payment using the Tax Credit Pass-through Option. The Tax Credit program is managed by the Oregon Department of Energy.
One of the campus shuttles at Central Oregon Community College in Bend reduces student driving by an estimated 22,000 miles a year. The shuttle qualified for a Business Energy Tax Credit that the college transferred to the Bank of the Cascades in exchange for a cash payment.
Central Oregon Community College (COCC) Director of Student Services Gene Zinkgraf (left) and Assistant Julie Mosier with the Campus Shuttle. The popular shuttle helps students leave their cars behind and get to the hillside campus easily.
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