null Skip to main content.
Phelps County Development Corporation Logo
  • Facebook
  • Linkedin
  • X-twitter
  • Youtube
    • Site Selectors
      • Available Properties
      • Iron Horse Industrial Park
      • Location Advantages
      • Target Industries
      • County Profile
      • Community Profiles
      • Major Employers
      • Workforce & Talent
      • Market Research
      • Incentives
      • Why Nebraska?
    • Business Services
      • GO! Programs
      • Workforce Development
      • High Demand Job Scholarships
      • Business Education
      • PCDC Builders Bureau
      • Retail Opportunities
    • Phelps County
      • Why Phelps
      • Relocation Assistance
        • GO! Home Programs
        • Quality of Life
        • Community Guide
        • Community Resources
        • Community Profile: Snapshot
        • Local Media
        • Why Nebraska
      • Workforce & Careers
        • Start your Career
      • Community Guide
      • DG Fuels
    • About PCDC
      • PCDC Strategic Plan
      • PCDC Board of Directors
      • PCDC Professional Staff
      • Contact
      • Accomplishments & Reports
        • Economic Indicators
      • Partners
    • In the News
      • Phelps County Business Journal
      • GO! Newsletter
      • Video/Audio Gallery
      • Sign Up for Updates
    Phelps County, NE In the News
    1. Home
    2. In The News
    3. Investment Club Gives Return On Community Projects
    • Facebook
    • Twitter
    • LinkedIn
    • Email
    • Print
    Investment Club Gives Return on Community Projects main photo

    Investment Club Gives Return on Community Projects

    April 1, 2020

    Local residents learned about community investment clubs at a February gathering organized by PCDC.

    Cliff Mesner, an attorney and developer from Central City, shared the history and success of the Central City investment club.

    Mesner said he and a group of investors started the club more than 25 years ago when they realized they needed venture capital to attract projects to town. Central City already had city sales tax funds through LB840 and tax increment financing options (Holdrege has these as well), but sometimes that wasn’t enough.

    Venture capital is often needed for start-ups and emerging companies that have a high probability of success but not enough funds to launch. Central City wanted to have money ready and available because it is more difficult to raise the funds in a hurry.

    The Central City investment club members each committed to giving $100 a month to set aside and have available when a project was proposed. It started with 23 investors, and they intended to make investments in the community that would benefit both the investors and the community as a whole.

    The first large investment was bringing a Super 8 Motel to town. The hotel was a success and was sold after 13 years to a new owner.

    The club also invested in a local farm store building to keep a business in town, an assisted-living facility and several single-family spec homes to boost the housing supply in town. After successfully building and selling several homes, local contractors were inspired to take on the projects themselves, and the investment club backed off.

    The home investments kept the local construction industry alive and resulted in $3.2 million added to the local tax base and an additional $45,000 a year in property taxes generated.

    Mesner has shared the investment club idea with other communities, and several of those communities have started clubs as well. Each one has a different process and different investment amounts but the same philosophy of growing their town while generating a profit on their investments.

    “People invest like it’s a long-term mutual fund,” Messner said. “This is not a donation. It’s an investment.”

    Mesner said he has averaged about a 5 percent return on his investment over the years.

    “I am personally happy with the way things have gone,” Mesner said. “You can do better investing in Berkshire-Hathaway, but Berkshire-Hathaway isn’t going to do anything for the community.”

    For more information about the investment club, please contact PCDC Executive Director Ron Tillery at Ron@PhelpsCountyNE.com or by calling (308) 995-4148.

    Fast Fact Photo
    1. Title

    Phelps County Communities

    1. Title
    Fast Fact Photo
    2. Atlanta

    Atlanta

    2. Atlanta
    Fast Fact Photo
    3. Bertrand

    Bertrand

    3. Bertrand
    Fast Fact Photo
    4. Funk

    Funk

    4. Funk
    Fast Fact Photo
    5. Holdrege

    Holdrege

    5. Holdrege
    Fast Fact Photo
    6. Loomis

    Loomis

    6. Loomis

    #phelpshelps

    Contact Us Today!

    Phelps County Development Corporation Icon Nebraska Economic Certified Community
    Phelps County Development Corporation 502 East Avenue P.O. Box 522 Holdrege, NE 68949Phone: (308) 995-4148 pcdc@phelpscountyne.com
  • Contact Us
  • Private
  • Site Map
  • © 2025 Phelps County Development Corporation. All rights reserved. Economic Development Websites by Golden Shovel Agency.
    Add to Report
    View Custom Report
    Sign Up to Receive News & Updates! Click to go to news and updates