I've been getting more responses by email than posts on the blog. For those who will allow me to do so I'll post their comments here.
Steve
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- Steve Fox
- I'm a real estate agent with Network Real Estate in Wilmington NC. Although musing on the problems of the production community is interesting it doesn't pay the rent. So, if you feel inclined to show some support, and you have any real estate needs, I wouldn't discourage you in the least from getting in touch. Steve Fox 910 262 1332 sfox@ec.rr.com
Hello Steven
ReplyDeleteGreat to read your email. WE are on the same page and I am doing something similar but from a different angle, I am just plain building a fund on the back of The Rusty Bucket Kids Club, not a kids show. Its a tween to teen show that already has support for broadcast.
The concerns you voice are real, and yet, there is an underground of business men who see the opportunity that the economic collapse has brought to the industry, my friend who is the COO at Think Film and Capital Films, too, sees the opportunities ahead. but NC has not always looked to localized production but rather placed most of its eggs in one basket and that was brining productions into the state. It is time that we now offer another option and that is to create the idea here, then the develop the business plan then execute the plan, as a part of the plan we go local on distribution. As a member of NAPTE, NAB and one who attends all the distribution events around he world this past year may have created the best opportunity for film makers to find distribution. That if the filmmaker has a good attorney or producer keeping the paperwork for chain ot title straight.
Would love to chat more bout this, but the Peak City International Film Festival is in full swing for November 20-22, Jerry Mathers from Leave it to Beaver is coming in for the three days at this family friendly festival. My time is really consumed now by finishing touches for the festival.
Best to you
John M. Demers
Executive Producer
RBKC, Inc.
Peak City Film Festival, Inc.
Steve,
ReplyDeleteMy name is Jay Gallagher, a sound supervisor and re-recording mixer relocated to Raleigh after Katrina. My facility in New Orleans, Swelltone Labs, is where Stephen Soderberg's films, including Traffic, Ocean's 11, Solaris, and Oceans 12 were mixed. I have now built up an new sound editorial and mixing company in Raleigh, "UltraFilmSound", and am interested in building up the film industry here.
I have met with Aaron Syrett and talked to most of the regional film comisssioners.
I will be at your meeting next Thursday, but would also like to offer any help you need for your project. Just let me know if I can help. My schedule is flexible.
Jay Gallagher
UltraFilmSound.com
"I couldn't agree with you more as to the need for sustainable film financing in North Carolina - both for the purposes you mention and for the purposes of above-the-line individuals in NC being taken seriously by the superstructure of the industry rather than every writer, producer and/or director feeling that he or she has to move to L.A. in order to succeed.
ReplyDeleteI do find your plan to be a good one. It is very ambitious, and I hope you will find plenty of support for it and that it works out well as things develop. We all really have to rally and work hard to build the infrastructure that we are lacking in terms of actual project development and financing. Thanks for your efforts."
William Mullins
Writer, Director, Producer
I am hopeful and enthusiastic about your efforts to facilitate the flow of investment capital into North Carolina productions.
ReplyDeleteI am exploring options to move a script into production.
The State of North Carolina recently held a Webcast about accessing new ‘Recovery Zone Bonds,’ which you may find helpful.
An announcement about the Recovery Zone Bonds in North Carolina Webcast is at:
http://www.ncrecovery.gov/News/PressReleaseDetail.aspx?newsItemID=69
The Webcast, which includes Powerpoint, will be available on the site in a few days.
FYI –
Forms for verifying use of allocation, wavier of allocation and requesting reallocation will be available at www.nccommerce.com under Business Services – Financial Incentives.
If bonds are not issued and no form is received on or before 12/15/2009, allocation will be deemed waived for reallocation by the State.
RZFBs are a new category of “exempt facility bonds” under IRC 142
- 95% or more of the net proceeds must be used for “recovery zone property”
- “Recovery Zone Property” is depreciable property that is located and first used in the active conduct of a “qualified business” in a “recovery zone.”
- Property must be constructed, reconstructed, renovated or acquired by the borrower after the date of the recovery zone was designated.
- Important: A used building can only be acquired with RZFB proceeds if the borrower spends money on renovation, rehabilitation, improvement, and expansion that doubles the basis of the building within 24 months after the zone is designated.
- “Recovery Zone” for RZFBs is the same as the recovery zone for RZEDBs
- Qualified Business” means any trade or business other than:
- Residential rental property or
- Facilities described in IRC 144©(5)(b) (I.e., commercial golf course, country club, massage parlor, hot tub, suntan, racetrack, gambling facility, or business that sells alcoholic beverages for off-premises consumption)
Examples:
- Shopping centers or other retail
- Manufacturing
- Distribution or warehouse facilities
- Hotels
- Restaurants
- Office buildings
RZFBs Allocation
Total allocation: North Carolina received $617,231,000
RZEDs Allocation
North Carolina received an allocation of $418,154,000
- U.S. Treasury then made sub-allocations of that amount to large municipalities (Cary, Charlotte, Fayetteville, Greensboro, High Point, Raleigh, Winston-Salem) and to counties based on the ratio of employment losses compared to the state’s losses.
Notes from Webcast:
Education bonds are taxable.
Facility bonds are not.
No cap on facility bonds.
Industrial bonds have cap.
Better rate on facility bonds.
Here is the specific contact for more information:
James.baker@nctreasurer.com
www.nctreasurer.com
919-807-2350
My contact info:
Linda ‘Red’ Young
Steve, Ever heard of a lawyer named Jim O'Brien who works at PoynerSpruill in Raleigh? He is engaged in independent film finance, and I have pointed out your proposal to him. I would like to introduce the two of you. You can see his profile at www.poynerspruill.com
ReplyDeleteper my earlier message..
http://www.poynerspruill.com/people/Pages/JamesMOBrien.aspx
Daniel Wilson
Steve, I applaud you for finally getting this out there. There is no doubt of the need for sustainable film (and TV) financing in NC. I tried back in the day and there is no quick fix. We are more than just talented and experienced crew members...We are talented, dedicated and creative producers, directors and writers who just do not want to live in LA! I will be there at the State of the State. See you soon.
ReplyDeleteJanet Gaino
Producer.Director.Writer
Bless Your Heart Productions
Bless Your Heart Productions
Steven,
ReplyDeleteI'm all for bringing production back to N.C.
What could help is a film grant program, like in New Mexico.
Are you familiar with the program?
Robert Scott Fort
Although I think it is a good idea to ask the state and the university system for support, I also think they will be too slow to respond, and waiting for them is the wrong strategy. This really requires starting a film finance corporation divorced from artistic pursuits that is set up for profit, for film /business/, and then we go looking for serious investors who can back not just one feature film, but ten or twenty. Having a strong business plan and going after people who can bring in a capital investment is the only way to get this rolling and keep it rolling. The research you're talking about is already done, it's in a drawer at every major studio. We need a high level film finance person to take an interest here, someone who can bring that knowledge to North Carolina and put it to work. The money is in the state, the will is in the state, we just have to define an informed business plan and sell it.
ReplyDeleteThanks Charles,
ReplyDeleteThere could be a middle path as well where the state might provide some development money for an ad hoc committee to put a business plan together. My underlying point is this. The old economy of the state is fading away. Tobacco and textiles are in their last throws. It’s in the states interest to help industries which will be part of the new economy to develop. Production clearly has a claim to be one of those industries. If we can identify what are the key missing components to our success and effectively lobby the state for assistance in developing those key components then we can flourish.
Sure the universities would be slow but the private sector has failed to deliver and we have to get on the right path somehow.
Many other states are now vying for a position in future production markets. But, thanks to Dino we have some great advantages we can capitalize on. We need to press our advantage now. If there are faster solutions, I’m all ears.
This comment has been removed by the author.
ReplyDeleteHello Steven
ReplyDeleteGreat to read your email. WE are on the same page and I am doing something similar but from a different angle, I am just plain building a fund on the back of The Rusty Bucket Kids Club, not a kids show. Its a tween to teen show that already has support for broadcast.
The concerns you voice are real, and yet, there is an underground of business men who see the opportunity that the economic collapse has brought to the industry, my friend who is the COO at Think Film and Capital Films, too, sees the opportunities ahead. but NC has not always looked to localized production but rather placed most of its eggs in one basket and that was brining productions into the state. It is time that we now offer another option and that is to create the idea here, then the develop the business plan then execute the plan, as a part of the plan we go local on distribution. As a member of NAPTE, NAB and one who attends all the distribution events around he world this past year may have created the best opportunity for film makers to find distribution. That if the filmmaker has a good attorney or producer keeping the paperwork for chain ot title straight.
Would love to chat more bout this, but the Peak City International Film Festival is in full swing for November 20-22, Jerry Mathers from Leave it to Beaver is coming in for the three days at this family friendly festival. My time is really consumed now by finishing touches for the festival.
Best to you
John M. Demers
Executive Producer
RBKC, Inc.
Peak City Film Festival, Inc.