Wells Fargo Building Purchased by KIC
May 03, 2012
Patton said this is a good long term income producing investment for Ketchikan Indian Community and continues with our intention of preparing for the inevitable federal budget cuts. KIC’s goal is to continue the high level of service to its members. The prudent course of action is to insure funding for our various programs by moving into conservative income producing enterprises, Patton said.
Wells Fargo Building located in downtown Ketchikan at 306 Main Street
“Helping Alaskans succeed is our area of expertise,” said First National Bank Alaska Vice President Luke Fanning. “We are proud to have the financial strength and resources available locally to help businesses and Tribal Governments such as KIC.”
The Wells Fargo building which has over 26,000 square feet of commercial rental space has been a cornerstone of the downtown business district for over 90 years. Construction of the building started in 1920 and officially opened as the Miners and Merchants Bank building in April of 1921 according to a feature article that appeared in SitNews by June Allen.
Ketchikan Indian Community (KIC) is a federally recognized Indian Tribe, incorporated in 1940 under Section 16 of the Indian Reorganization Act of 1934, as amended for Alaska in 1936.
According to information provided on the KIC website, Ketchikan Indian Community serves a membership of over 5,700 Alaska Native and American Indians through the Bureau of Indian Affairs (BIA) and Indian Health Service (IHS) programs.
An eight-member Tribal Council, elected by the KIC membership, serves as the governing body and sets policy for programs and administration. KIC currently represents the largest Tribal membership in Southeast Alaska.
Edited by Mary Kauffman, SitNews
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