Wednesday PM Daily | June 28, 2017

The Community Foundation of Greater Des Moines named the three recipients of its Leadership Grants. Funded by donations to the Better Together Fund, the grants totaled $350,000.

The largest block of funding, $200,000, went to the streetscape project of the 6th Avenue Corridor. The project is seeking to revitalize the area. "This is a catalytic investment in one of Iowa's most diverse areas that will enhance the quality of life and health for residents," said Breann Bye, executive director of 6th Avenue Corridor.

The Community Foundation also awarded $100,000 to the Food Bank of Iowa and $50,000 to Iowa Homeless Youth Centers. The Food Bank of Iowa's grant will help the Fighting Hunger, Feeding Hope program, helping to expand the Food Bank's infrastructure within the state, doubling the amount of meals the group can provide. Iowa Homeless Youth Center will convert the rooftop of 612 Locust St. into a produce garden. The produce will be sold to local markets to provide the residents of the Iowa Homeless Youth Center with a livable wage and work experience.

CR pledges $5 million for lake project
Cedar Rapids City Council pledged up to $5 million for a $20 million project to turn a former Alliant Energy cooling pond into a 120-acre recreational lake north of downtown, the Cedar Rapids Gazette reported. Studies have shown the lake has minimal contamination and is safe for use. In addition, work to add an observation deck to Mount Trashmore, a 200-foot-tall former landfill, is underway and there is talk of a new suspension bridge over the Cedar River to the Cedar River Trail near the old landfill.

ISU details plans for approved RN-BSN program
Iowa State University hopes to enroll 50 registered nurses in the initial class of its new RN-BSN program that will begin in fall 2018. The program, developed by ISU in partnership with Des Moines Area Community College and Mary Greeley Medical Center, is open to anyone with an associate nursing degree. Jonathan Wickert, ISU senior vice president and provost, said in an ISU article that the program will help meet a statewide need to increase the number of nurses with a bachelor's degree. "It also opens opportunities for research and outreach with local school districts, residential living facilities and other providers focused on improving the health of our community," he said. The program was approved by the Iowa Board of Regents earlier this month, but still requires approval from the Iowa Board of Nursing. Once classes begin, the program will seek accreditation from the Commission on Collegiate Nursing Education.

Galloway to lead new advisory services unit for Bridgepoint
Bridgepoint Merchant Banking announced today it has hired Paul Galloway as a managing principal. Galloway, who most recently was senior investment manager with DuPont Pioneer, will launch Bridgepoint Advisory Services, which will focus on debt, equity, merger & acquisition and corporate finance projects. The new business unit will enable the Des Moines-based firm to provide companies with institutional-grade services in an advisory capacity, even if they aren't immediately considering a transaction, said Managing Principal Adam Claypool. Galloway has more than 23 years of experience across industries in banking, agribusiness, utilities and diversified financial services. Prior to DuPont Pioneer, Galloway held audit, investment and M&A decision making roles at Principal Financial Group, Federal Home Loan Bank of Des Moines and MidAmerican Energy Co. He has advised on nearly 50 capital projects valued at $47 billion over his career. He has an MBA in finance from the University of Iowa and holds the Chartered Financial Analyst designation.

New marathon route brings action to Court Avenue
The IMT Des Moines Marathon unveiled its new race course today, with the most notable change being the start and finish lines moving to Court Avenue. At a press conference held in front of the downtown Hy-Vee, Race Director Chris Burch said the location will also host a block party to celebrate the race festivities. A route map can be found here.

CORRECTION: A KCCI news item in our morning Daily incorrectly stated that the city of Clive had banned bridge jumping on its popular Greenbelt Trail. The Clive City Council voted to make it illegal to congregate, loiter or climb on bridges in the city, but voted against an outright ban on jumping. In addition, the new rule still must pass two additional readings at the July 13 and 27 City Council meetings before it takes effect. Changes can still be made to the ordinance at the planned council meetings.

DeCosters ordered to prison after U.S. Supreme Court declines to hear case
Cedar Rapids Gazette: Egg moguls Austin "Jack" DeCoster and his son Peter have been ordered to serve their prison time after the U.S. Supreme Court declined to hear their appeal of a 2015 food safety conviction. Eggs from the Iowa farms owned by the DeCosters were linked to a 2010 salmonella outbreak that sickened thousands. DeCoster-owned or -affiliated companies recalled 550 million eggs.

Cedar Rapids bridge, lake recreation project gets City Council backing
Corridor Business Journal: The ConnectCR project that combines a dramatic recreational bridge over the Cedar River with major enhancements to Cedar Lake has won critical backing from the Cedar Rapids City Council. The city will fund 25 percent of the cost, up to $1 million per year over five years, contingent on success in raising the remaining 75 percent.

Fed's Yellen expects no new financial crisis in 'our lifetimes'
Reuters: Federal Reserve Chair Janet Yellen says she does not believe there will be another financial crisis for at least as long as she lives, thanks largely to reforms of the banking system since the 2007-09 crash.