AEDC Committees

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.

This Committee has the following duties:

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

This Committee works with staff to develop and recommend annual budgets; reviews and makes recommendations concerning mid-year budget adjustments; and monitors expenditures and revenues.

This Committee will 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.

This Committee has the following duties:

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:

 

© Arcata Economic Development Corporation

AEDC does not discriminate on the grounds of race, color, religion, sex, marital status, age, disability or national origin in services or accommodations offered or provided to our employees, clients or guests.

 

AEDC Stats

AEDC made 19 loans in FY2006 worth $3,617,000.

AEDC loans were responsible for retaining or creating 163 jobs in FY2006.

AEDC's current loan portfolio includes $3.5 million in commercial loans, $3.3 million in housing rehab and first-time buyer loans and over $12.1 million in SBA 504 loans.

 

“I felt AEDC was right for us; we were trying to invest in the community by bringing our business here. And through AEDC, the community was trying to invest in us.”

— Dave Berman, owner of Jessicurl, Arcata, CA

“The loan from AEDC allowed me pursue my passion and work for myself. It's a great feeling to have fulfilled your dream, Tony says. "AEDC was the best in terms of flexibility and working with us.”

— Tony Fraser, owner of
Island Boy Jamaican Sauces and AEDC borrower