Representative Town Meeting Annual Budget Meeting Materials - Day 3 (linked)

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ECONOMIC DEVELOPMENT
COMMISSION
FISCAL YEAR 2022 BUDGET
Town of Waterford
waterfordct.org/economic-development-commission

Economic Development Commission
Fiscal Year 2022
Town of Waterford
CONTENTS
BUDGET
FUNCTION...........
e EDC MISSION......
« FY2019
EXPENDITURES . 3
e BUDGET businesses to address their needs to enable and encourage new
SUMMARY ........... business development, by working with Local and Government
agencies.
e BUDGET
EXPLANTIONS BY
CATEGORY .........
« HISTORY OF
EXPENDITURES . 4
OBJECTIVES
MEMBERS The EDC Members will have monthly duties/tasks that
Kevin Marcks, Chair build relationships with current and new businesses.
Edward Lusher
Ivan Kuvalanka The EDC will update and improve website materials, videos, and
Richard Lacombe information to promote Waterford to prospective investors.
Stephanie Hughes
The EDC members will attend SeCTer meetings and host a bi-annual
ALTERNATES business support meeting.
Eric Palmer
Gregory Attanasio Develop and maintain an inventory of vacant retail sites and available
BUDGET FUNCTION
The Waterford Economic Development Commission engages new
and existing businesses to facilitate establishment and expansion of
commercial enterprise in Waterford, consistent with the Plan of
Conservation and Development. Ultimately, this benefits Waterford
through a robust grand list and availability of commercial services.
ECONOMIC DEVELOPMENT COMMISSION MISSION
Initiate strong partnerships with existing and potential Waterford
VISION
The Economic Development Commission (EDC) Mission
members actively work with the business community to
execute actionable items.
The direct interaction with existing and potential Waterford businesses
to exchange pertinent information to identify and support improvements
that will enhance success in the business community.
Establish a plan that will enhance responsible growth and development
consistent with the Waterford Plan for Conservation and Development.
sites in areas zoned for business development. The EDC will build
partnerships with the commercial real estate community.
Create a marketing strategy to promote available locations and recruit
appropriate businesses.

Economic Development Commission
Fiscal Year 2022
Town of Waterford
BUDGET SUMMARY
The total requested Economic Development Commission Budget for FY2022 is $10,076. The
increase from previous budgets is requested to enable the Commission to engage a
professional videographer to begin updating marketing materials for the Town.
Line Number Description Amount Requested
10113-52010 Advertising $ 425
10113-52050 Dues, Conferences and Education $7,851
101 13-52030" Professional Fees $ 1,500
10113-52060 Printing $ 150
10113-52070 Reimbursable Expenses . $ 150
TOTAL 
$ 10,076
*The professional fees line has not been funded in recent years but does exist in this budget.
BUDGET EXPLANATIONS BY CATAGORY
Advertising Line 10113-52010
$425 Requested
The EDC advertises projects and makes announcements in the New London Day. Advertisements are
placed to solicit participation in EDC initiatives, to invite members
of the community to volunteer as EDC members, and will be used
_ to advertise bi-annual meetings for business owners.
Dues, Conferences and Education Line 10113-52050
$7,851 Requested
Association with professional organizations, attendance at conferences & educational seminars, and
business oriented gatherings for the purposes of implementing and maintaining effective economic
development programs.
Southeastern CT Enterprise Region (S@CTef) .............ccccccccccecsesceseesesecsesecsecsanestsaaesnseeenes $ 6,831
Regional business information, regional promotion, educational resources
Chamber of Commerce of Eastern CT........ccccccccscsccscssecssssssscesseseesessesessesecsusenscausasatsarsase $ 220
Promotes local networking, facilitates communication & collaboration
CT Economic Development Association (CEDAS) ........:::sccssssseserserisestecnensssssstterersoeree $ 150
Economic development expertise, educational seminars & forums
Business meeting expenses, including shared costs of facilities and admission costs for economic
events, Meetings ANd SCMINATS 0.0... ecsecscescsscsssssssscessucsucassrecsseseersensesssesesesstesereverseare $ 650

Economic Development Commission
Fiscal Year 2022
Town of Waterford
Professional Fees Line 10113-52050
$1,500 Requested
The EDC will develop new professional video materials to promote Waterford. The existing Town
video is dated. The EDC plans to hire a professional videographer for a one-year period to create
video and still images of 12 events or places of interest. Each of the 12 segments would be finished to
stand alone as a short video clip. At the end of the year, these would be compiled into a new video
that highlights the Waterford’s amenities and economy.
Printing Line 10113-52060
$150 Requested
The EDC will develop new materials to distribute at seminars, trade shows, conferences and via mail.
These materials include flyers, postcards and business cards with information about the EDC and the
services it provides. Printing is also required to distribute draft and final versions of the strategic plan
currently being drafted and to submit grant applications to leverage funding for EDC projects.
Reimbursable Expenses Line 10113-52070
$150 Requested
EDC members often 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. This includes the cost of providing refreshments with to support bi-
annual meetings with the business community.
HISTORY OF EXPENDITURES AND
PROPOSED BUDGET
10113 ACTUAL BUDGET EXPENDITURES yTD PROPOSED
2015/2016 | 2016/2017 | 2017/2018 | 2018/2019 | 2019/2020 | 2020/2021 | 2021/2022
52010 | ADVERTISING 372 7 0 0 0 0 428
52020 POSTAGE 1 1 1 0 0 0 0
52030 | PROFESSIONAL N/A NIA NA N/A NA NIA 1,500
DUES,
52050 | CONFERENCES | 7,185 7.185 7,185 7,050 | 6,831 7043 7851
& EDUCATION
52060 PRINTING 542 40 Q 0 0 0 150
REIMBURSABLE
52070 SOE NSES 0 282 15 a 0 Q 150
TOTAL 8,100 8,255 7,200 7,050 8,831 7043 10,076

Economic Development Commission 5
Fiscal Year 2022
Town of Waterford
EXPENDITURES
ECONOMIC DEVELOPMENT EXPENDITURES
5 YEAR HISTORY
$9,000
i $7,200
| BE $6,831
FY 2016 FY 2017 FY 2018 FY 2019. FY:2020
Rt
TEAR ea

Economic Development Commission
December 10, 2020
p Lof2 - -
x beg
WATERFORD ECONOMIC DEVELOPMENT connate ,
December 10, 2020 2078 DEL 15 ng
Zoom Virtual Meeting eb PH I: 38
5:00 PM .
MEMBERS PRESENT: Chairman -Kevin Marcks, Stephanie Hughes, Edward Lusher,
MEMBERS-ABSENT: Ivan Kuvalanka,
ALTERNATES:PRESENT: Eric Palmer, Greg Attanasio
“ALTERNATES ABSENT: None
STAFF PRESENT: Abby Piersall, AICP, Planning Director, Mark Wujtewicz, Planner
L CALL TO ORDER/APPOINTMENT OF ALTERNATES
A quorum was established. K. Marcks called the meeting to order at. 5:00PM and appointed G.
Attanasio for I. Kuvalanka.
2: APPROVAL OF MINUTES - November 12, 2020 meeting
MOTION: Motion made by K. Marcks, seconded by E, Lusher to approve the minutes of the
November 12, 2020 meeting.
VOTE: — 5-0 to approve the minutes.
3. COMMISSION PROJECTS AND INITIATIVES:
a. Review and approve FY22 Budget
XK, Marcks informed the members of the Commission of a phone meeting he had with 8. Hughes
and the contact for creating potential video recordings to be published on the Town’s Website and
: also the EDC Webpage. He explained that the estimated costs for producing the videos were
ineluded in the Budget request.
K. Marcks reviewed the budget with the members of the Commission noting that the only
increase in the budget request from last year’s budget was the $2500.00 for the videographer as
stated eatlier.
A. Piersall discussed with the Commission the timing of the budget approval piocess.
G. Attanasio questioned whether the EDC could add an item to the agenda to review events and
activities that can be included in the EDC discussions for each meeting. K, Marcks agreed and
tasked the members of the Commission to come to the next meeting with items, events in Town
for review.
MOTION: Motion made by G. Attanasio, seconded by E. Lusher to approve the Budget Request
as written.
VOTE: = 5-0
4. TOWN DEVELOPMENT PROJECT AND PERMITTING STATUS
M. Wujtewicz reviewed ongoing development projects with the Commission.
5. PAYMENT OF BILLS ~ None
6. CORRESPONDENCE — None

Economic Development Commission
December 10, 2020
p. 20f2
7. OTHER BUSINESS — None
8 ADJOURNMENT
MOTION: Motion by E. Lusher, seconded by 8. Hughes to adjourn at 5:30PM.
VOTE: 5-0
Respectfully Submitted,
Matk Wujtewicz
Planner