Committees of the Board

As a member you can participate more fully in AEDC's work by serving on a committee.

THE LOAN COMMITTEE is responsible for reviewing and making recommendations to the Board on all lending activity. The Loan Committee may approve loans made by the Corporation and authorize disbursement if such authority is granted through the adoption of loan policies.  Loan Committee Log In

This Committee has the following duties:

  • Review and make recommendations to the Board on all proposed loans.
  • Review and make recommendations to the Board on proposed modifications to existing loans.
  • Review and approve a monthly loan activity report, pipeline report, delinquency report and funds available report.
  • Review and approve an annual loan report.
  • In conjunction with the Finance Committee, review and make recommendations to the Board concerning loan policy and procedures.

THE FINANCE COMMITTEE is responsible for reviewing and making recommendations to the Board of Directors on general financial matters. Finance Committee Log In

This Committee has the following duties:

  • Work with staff to develop and recommend annual budgets
  • Review and makes recommendations concerning mid-year budget adjustments
  • Monitor expenditures and revenues
  • Review periodic financial statements and report to the Board on the financial status of the corporation.
  • This Committee is responsible for assisting the Board of Directors in protecting AEDC’s assets and fiscal health
  • In conjunction with the Loan Committee, review and make recommendations to the Board concerning loan policy and procedures.

THE PROGRAM COMMITTEE is responsible for reviewing and making recommendations to the Board on policy and programs that will enhance economic and community development and will augment revenues for AEDC. This Committee will make recommendations concerning AEDC’s mission, short and long-term goals, and action plans for overall corporate development. Program Committee Log In

This Committee has the following duties:

  • Review and make recommendations to the Board concerning AEDC’s mission and vision.
  • Review the Strategic Plan and make recommendations to the Board concerning an annual action plan.
  • Develop and maintain program evaluation criteria.
  • Review and make recommendations to the Board on economic development programs.
  • Review and make recommendations to the Board on proposed programs and grant opportunities.
  • Review and approve an annual program report.
  • Maintain regular communications with the membership

The Program Committee is responsible for membership development and compliance to assure that appropriate community representation is maintained. The Committee may form an ad-hoc sub-committee to manage the following duties:

  • Recruit new members, review applications for membership and make recommendations to the Board concerning membership.
  • Conduct the annual membership survey and certification process.
  • Conduct the annual Board election, oversee nominations to the Board, count ballots and present the results to the Board for certification.

AEDC Stats

AEDC made loans to 22 businesses in FY2009 worth $1,587,537.

 

AEDC loans were responsible for retaining or creating 178 jobs in FY2009.

 

Through FY2009, AEDC has funded approximately $47 million commercial loans, and an additional $7 million in housing loans through the City of Arcata First Time Homebuyers Program.