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Regional Revolving Loan Fund

 

RLF Workbook (Adobe PDF)

 

Agenda    

 

Friday, January 24th, 2003

1 pm - 4:30 pm

  

Genesee/Finger Lakes Regional Planning Council

City Place

50 West Main Street

2nd Floor Atrium

Rochester, New York 14614

585-454-0190

 

Lunch

Welcome/Introductions

 

Objective of this Roundtable:  To bring various regional stakeholders together to discuss how they feel about the current and future status and performance of G/FL’s Revolving Loan Fund. This will be done by:

  • Creating consensus on the importance of the G/FL RLF program as a tool for economic development in our region.

  • Identifying the highest and best use of the G/FL RLF program.

  • Identifying criteria to measure the success of the G/FL RLF program.

  • Identifying what regional stakeholders are willing to commit to in order to expand the resources available through the program.

  • Establishing a process to gauge successes.

Groundrules for this Roundtable:

  • Do not interrupt others while they are speaking

  • Do not devalue input you do not agree with

  • Speak if you feel comfortable, submit your feelings in writing if you so choose to.

Wrap Up & Next Steps

  • Final thoughts

  • Main points

  • Establish a date and time for follow up

 

 

Minutes

 

Welcome: Margaret M. DelPlato, Regional Planner in Economic Development and Revolving Loan Fund Relationship Coordinator

 

Attendee Introductions:

Margaret M. DelPlato (Genesee/Finger Lakes Regional Planning Council), Steve Griffin
(Genesee County IDA), Barb Harper (Wayne County IDA), Roberta Hutchinson (Ontario County IDA), Don Kennedy (Orleans County IDA), Julie Marshall (Livingston County IDA), Dennis Pelletier (Monroe County Legislature President and Genesee/Finger Lakes Regional Planning Council Chair), Will Poppe (Genesee/Finger Lakes Regional Planning Council & New York State Energy and Research Development Authority), Robert Radell (Village of Fairport and Genesee/Finger Lakes Regional Planning Council Member), Richard Rudolph (Genesee/Finger Lakes Regional Planning Council Member), Judy Seil (Monroe County), Larry Stid (City of Rochester Planning Department), Fred Swain (Seneca County and Genesee/Finger Lakes Regional Planning Council Executive Committee Member), Dana Sumner (Consultant/Facilitator)James Townsend (Counsel for Genesee/Finger Lakes Regional Planning Council) David Zorn (Genesee/Finger Lakes Regional Planning Council).

 

Created consensus on the importance of the G/FL RLF program as a tool for economic development in our region.

  • What is Economic Development/How do we measure the success of regional Economic Development?

    • The creation, retention, expansion and attraction of quality jobs.

    • Increasing the number of small businesses.

    • The sustainability of jobs and small businesses.

    • Facilitating an environment that supports the stability and diversification of our employees and employers.

    • The creation and maintenance of community wealth and quality of life.

  • Identified the highest and best use of the G/FL RLF program.

    • Investing in our regional business community.

    • Providing technical assistance and guidance to our county leadership who serve our nine counties and the City of Rochester.

    • Providing technical assistance and guidance to our local leadership who are the front line contact in our localities for new and existing businesses.

    • Measuring performance can make the perception of the fund better.

  • Can an effectively administered RLF contribute to successfully addressing all of the above listed items?

    • YES!

Identified criteria to measure the success of the G/FL RLF program/Establishing a process to gauge successes.

  • Outreach, outreach, outreach!

    • Make regional Economic Developers aware of your RLF parameters, the importance of their buy in and make sure your marketing is consistent.

  • Review the RLF as a portfolio – look at the big picture, not just individual files, or problem loans.

  • Examine if the fund has grown (client numbers, funds dispersed = increase in monies for administration.)

  • Has the regional tax base improved as the RLF funds were used to stimulate small business?

  • Establish a risk rating system to benchmark the portfolio.

Identified what regional stakeholders are willing to commit to in order to expand the resources available through the program.

  • G/FL will clarify EDA guidelines for regional Economic Developers.

    • A bulleted list will be forwarded to stakeholders via e-mail or USPS mail.

  • Regional Economic Developers will communicate challenges to G/FL.

    • Consideration will be given to make the RLF perform in compliance with EDA guidelines while improving its functionality in the region.

    • Mutual expectations will be established at a future meeting.

  • Follow up will be made to reconcile concerns.

  • Regional Economic Developers will promote the use of the G/FL RLF.

 

Conclusion: A utilized loan fund has the potential to create quality jobs and community wealth, diversify employment in a region and stabilize the employment market.

If you have any further questions regarding the Genesee/Finger Lakes Regional Planning Council Revolving Loan Fund and/or the Genesee/Finger Lakes Regional Planning Council Economic Development work program and projects please contact us at:

 

Genesee Finger Lakes Regional Planning Council

50 West Main Street, Suite 8107

Rochester, New York 14614

Phone: (585) 454-0190

e-mail: gflrpc@gflrpc.org

www.gflrpc.org

The Genesee/Finger Lakes Regional Planning Council would like to gratefully acknowledge the Regional Development Corporation/Economic Development Advisory Committee for contributing to the cost of the roundtable’s lunch.

 
 

50 West Main Street, Suite 8107
Rochester, New York 14614
tel:  585.454.0190
fax:  585.454.0191

 

Last Modified:  May 01, 2007