RTM Budget Agenda - DAY 3 (linked)

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TOWN OF WATERFORD
FY2025 BUDGET REQUEST
DEPARTMENT: Economic Development Commission
BUDGET FUNCTION
The Economic Development Commission’s purpose is to support and grow Waterford’s economy. The
Commission is empowered by Town Ordinance and State Statutes to serve as a platform to coordinate
activities and groups that work in support of economic development. Broad responsibilities the
Commission may undertake include market analysis, business recruitment and retention, marketing the
Town, and recommending actions that the Town can take to meet its development goals.
The proposed FY25 EDC budget reflects an 8% decrease over FY24. The Commission voted to continue to
ensure that it has the resources to better support Waterford’s economic development efforts. Key
elements of the budget request include the need for specialized professional services, effective
marketing, and targeted networking.
MEMBERS
Edward Lusher, Chair
Guy Russo
Edward Aledia
Michael Buscetto III
Kathleen Mullen — Kohl
ALTERNATES
Julie Greco
Catherine Lynn Gonyo

TOWN OF WATERFORD
FY2025 BUDGET REQUEST
DEPARTMENT: Economic Development Commission
BUDGET SUMMARY
ECONOMIC DEVELOPMENT CONMISSION: Proposed Fiscal Year 2025
SERVICES:
10113-62010-101-010-13-00-52 ADVERTISING $500
40113-52020-101-010-13-00-52 POSTAGE 
$0
410113-62030-101-010-13-00-52 PROFESSIONAL FEES . $8,000
10113-62050-101-010-13-00-52 DUES,CONFERENCES & EDUCAT © $16,467
10113-62060-101-010-13-00-52 PRINTING $200
10113-62070-101-010-13-00-52 REIMBURSABLE EXPENSES $100
TOTAL 
$25,267
Advertising Line 10113-52010
$500 Requested
The EDC will advertise via print, digital, and social media platforms. Projects such as the
upcoming small business grants, creation of an economic development strategy for the Town,
and marketing to attract businesses and residents would be paid from this line.
Professional Fees Line 10113-52030
$8,000 Requested
In FY24, the EDC received funds to hire a consultant to assist the Commission in drafting an Economic
Development Strategy. The Strategy will include goals and actions necessary to support economic
growth in Waterford and outline the Commission’s action plan for upcoming years. It is anticipated that
implementation efforts will include the need to hire professionals on a limited basis. Examples of
projects for which funding needs are anticipated are graphic design, for branding and marketing
materials, social media content and two meetings with the Strategy consultant to review the
Commission’s progress.
Dues, Conferences and Education Line 10113-52050
$16,467 Requested
The EDC maintains membership with the Southeastern CT Enterprise Region (SeCTer) for the Town.
SeCTer provides access to regional economic data and project support. The Commission also maintains
memberships with professional organizations for the purposes of implementing and maintaining effective
economic development programs. Members attend educational and networking events whenever
possible.
Southeastern CT Enterprise Region (S@CTer) .............cccscssccssscssscessssecesssesscesecesscesscessssesseeesees S 8,807
SeCTer provides the Town with regional business information, regional promotion, and
educational resources.

TOWN OF WATERFORD
FY2025 BUDGET REQUEST
DEPARTMENT: Economic Development Commission
Chamber of Commerce of Southeastern CT ........cccccsccsescssessssescsecsessesesecsesscsececsecsesecsecsesecatseees
Promotes local networking, facilitates communication & collaboration
CT Economic Development Association (CEDAS) .........csssssssssssscccsssssssssscceccesessecssssesssensnsceees S 150
Economic development expertise, educational seminars & forums
Business meeting expenses, including shared costs of facilities and admission costs for economic
Events, MEETINGS ANA SEMINALS...............ccccccesscccsssccseecsssccessscessscesssscecssccesscessssceeceseessecseessensens S 400
International Council of Shopping Centers (ICSC) Conference Attendance..........ssesssesssseee $6,890
ICSC is a member organization supporting retail, dining, entertainment, and other marketplace
industries. The organization provides industry insights and networking opportunities to support
development initiatives. The Economic Development Commission recommends that two
representatives from Waterford be funded to attend an International Council of Shopping
Centers (ICSC) in New York to make connections and promote commercial development
opportunities in Waterford to industry leaders.
Printing Line 10113-52060
$200 Requested
This line will cover the cost of materials related to Economic Development Strategy implementation, such
as drafts of graphic designs or similar items that will require Commission review.
Reimbursable Expenses Line 10113-52070
$100 Requested
EDC members on occasion pay out of pocket for expenses associated with travel to seminars and business
meetings. This line item provides for the reimbursement of funds expended by EDC members in providing
services to the Town.

TOWN OF WATERFORD
FY2025 BUDGET REQUEST
DEPARTMENT: Economic Development Commission
Economic Developmnent Commission
FOR THE FIVE YEARS ENDED JUNE 30, 2023
FY2023 FY2023 -FY2022 FY2022 = F¥2021 FY2021 FY2020 FY2020 FY2019 FY2019
ORIGINAL ACTUAL ORIGINAL ACTUAL ORIGINAL ACTUAL ORIGINAL ACTUAL ORIGINAL ACTUAL
ECONOMIC DEVELOPMENT COMMISSION:
SERVICES:
10113-62010-101-010-13-00-52 ADVERTISING 1,000 0 425 0 425 0 425 0 425 0
10113-62020-101-010-13-00-52 POSTAGE 0 § 0 0 0 0 200 0 200 0
10113-52030-101-010-13-00-52 PROFESSIONAL FEES 16,000 7,500 1,500 1,372 0 0 0 0 0 0
10113-62050-101-010-13-00-52 DUES, CONFERENCES & EDUCAT 10,071 8,508 7,861 7,103 7,861 7,043 8,223 6,831 8,307 7,050
10113-62060-101-010-13-00-52 PRINTING 200 0 150 0 150 0 300 0 300 0
10113-52070-101-010-13-00-52 REIMBURSABLE EXPENSES 200 383 0 0 150 0 160 0 160 0
Total SERVICES 27,4171 16,396 9,926 8,475 8,576" 7,043 9,298 6,831 9,382 7,050

FIFTEEN ROPE FERRY ROAD WATERFORD, CT 06385-2886
WATERFORD ECONOMIC DEVELOPMENT COMMISSION
November 9, 2023
WATERFORD TOWN HALL — LOUISE T. APPLEBY ROOM
5:00 PM
MEMBERS PRESENT: Edward Lusher, Chairman, Guy Russo, Kathleen Mullen-Kohl, Michael Buscetto
MEMBERS ABSENT: Edward Aledia
ALTERNATES PRESENT; Julie Greco, Cathy Gonyo
STAFF PRESENT: Jonathan E. Mullen, AICP, Planning Director, Mark Wujtewicz, Planner, Dawn
Choisy, Recording Secretary
1, CALL TO ORDER/APPOINTMENT OF ALTERNATES
The meeting was called to order at 5:02 pm. Julie Greco was seated for Edward Aledia.
2. APPROVAL OF MINUTES -— September 14, 2023 meeting
MOTION: Motion made by J. Greco, seconded by K, Mullen-Kohl, to approve the minutes of the
October 12, 2023 meeting.
VOTE: 5-0
ai REVIEW OF DRAFT RFP FOR ECONOMIC DEVELOPMENT STRATEGY
J. Mullen stated that there have been no changes to the draft presented at the previous meeting, and the
document will be forwarded to the Town’s Purchasing Agent.
4. REVIEW OF FY2025 PROPOSED BUDGET
MOTION: Motion made by G. Russo, seconded by K. Mullen-Kohl, to approve the FY2025 Budget as
drafted.
VOTE: 5-0
5, REVIEW OF 2022/2023 ANNUAL REPORT
MOTION: Motion made by J. Greco, seconded by G. Russo, to approve the 2022/2023 Annual Report as
drafted.
VOTE: 5-0
6. REVIEW OF DRAFT 2024 MEETING SCHEDULE
MOTION: Motion made by G. Russo, seconded by K. Mullen-Kohl, to approve the 2024 meeting
schedule as drafted.
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VOTE: 5-0 =
7. ADJOURNMENT al —
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MOTION: Motion made by K. Mullen-Kohl, seconded by J. Greco, to adjourn the meeting 2 t
VOTE: 5-0 » WwW 23
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Respectfully submitted, } \ = ‘2
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Dawn Choisy, Recording Secretary