Board of Selectmen - 446 (02/03/2021)

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COMMISSION
FISCAL YEAR 2022 BUDGET
Town of Waterford
ssion
waterfordct.org/economic-develooment-commi

Economic Development Commission
Fiscal Year 2022
Town of Waterford
CcONTENTS
BUDGET
FUNCTION scosscccces 2
EDC MISSION...... 2
FY2019
EXPENDITURES . 3
BUDGET
SUMMARY ........... 4
BUDGET
EXPLANTIONS BY
CATEGORY ......... 4
HISTORY OF
EXPENDITURES . 4
MEMBERS
Kevin Marcks, Chair
Edward Lusher
/van Kuvalanka
Richard Lacombe
Siephanie Hughes
ALTERNATES
Eric Palmer
Gregory Attanasio
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
businesses to address their needs to enable and encourage new
business development, by working with Local and Government
agencies.
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.
OBJECTIVES
The EDC Members will have monthly duties/tasks that
build relationships with current and new businesses.
The EDC will update and improve website materials, videos, and
information to promote Waterford to prospective investors.
The EDC members will attend SeCTer meetings and host a bi-annual
business support meeting.
Develop and maintain an inventory of vacant retail sites and available
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
10113-52030* 
Professional Fees 
$ 1,500
10113-52060 
Printing 
$ 
150
10113-52070 
Reimbursable Expenses 
$150
TOTAL 
$ 10,076
Pe SS
PENT 
OS
* 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 eaverse: 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.
47 Eugene O’Neill Drive
New London, CT 06320
860-442-2200
www.theday.com
capclassitied Advertising Proof
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@CTer)............c.cccccccsccsseesssecsecesseecesesesseeesneesseeeseees $ 6,831
Regional business information, regional promotion, educational resources
Chamber of Commerce of Southeastern CT oo... .ccccccccccccsscessesessecsseeesssecseeeesessneseneeeeaees $ 
220
Promotes local networking, facilitates communication & collaboration
CT Economic Development Association (CEDAS)..........::::cccsssscsscsseseeseeeseeeeeeeeesesseeeeeeeses $ 
150
Economic development expertise, educational seminars & forums
Business meeting expenses, including shared costs of facilities and admission costs for economic
events, Meetings ANd SEMINAFS ............. cece cescceeseeceeeeeeessceccessesecsuecesaeeecesueeeeesneseenseesensaees $ 
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 
777 
0 
0 
0 
0 
425
52020 
POSTAGE 
1 
1 
1 
0 
0 
0 
0
52030 
PROF SSO NAL 
N/A 
N/A 
N/A 
N/A 
N/A 
N/A 
1,500
DUES,
52050 
| CONFERENCES | 
7,185 
7,185 
7,185 
7,050 
| 6,831 
7043 
7851
& EDUCATION
52060 
PRINTING 
542 
10 
0 
0 
0 
0 
150
REIMBURSABLE
52070 
moet 
0 
282 
15 
0 
0 
0 
150
TOTAL 
8,100 
8,255 
7,200 
7,050 
6,831 
7043 
10,076

Economic Development Commission 
. 5
Fiscal Year 2022
Town of Waterford
EXPENDITURES
ECONOMIC DEVELOPMENT EXPENDITURES 
|
5 YEAR HISTORY
$9,000
. 
38255
$7000 
| 
om
C