Northwest Connecticut Economic Development Corporation
333 Kennedy Drive, Torrington, CT 06790
860.567.2204 - firstname.lastname@example.org - www.nwctedc.com
Meeting Minutes - Executive Committee
Monday, October 17, 2016
@ NW CT Chamber of Commerce
Attendees: Erin Wilson, JoAnn Ryan, Don Stein, Mark Lyon, Jocelyn Ayer, Frank Chiaramonte, Rick Lynn, Doug Parker, Leo Paul, Ted Shafer
1. Suggested By-law Revisions:
Article I - Office and Mission Statement
The principal office of the Corporation shall be located at 333 Kennedy Drive, Torrington, Connecticut 06790. The Board shall have the power to change the location of the principal office from time to time as it shall determine in its discretion.
The Northwest Connecticut Economic Development Corporation is organized in order to develop a vehicle for the public and private sectors to channel their resources for the purpose of achieving job creation, strengthening the tax base and improving the economic well being of the region.
- Support existing businesses and industries in NW Connecticut
- Attract new businesses and industries to NW Connecticut
- Create employment opportunities throughout NW Connecticut
- Enhance quality of the workforce
- Implement Comprehensive Economic Development Strategy (CEDS) Action Agenda
The Northwest Connecticut Economic Development Corporation works in close cooperation with the NW CT Chamber of Commerce and the NW Hills Council of Governments.
Article II - Board of Directors
Delete section about Members
Section 2. Change the total number of Directors from 25-40 to between 20 and 30
Section 5. Change Annual Meeting to February, do not specify day or date.
Article III - Officers
Delete Chairman, Vice Chairmen, Assistant Treasurer and Assistant Secretary
Officers: President, Vice-President, Treasurer, Secretary
Article IV - Committees
Executive Committee - between 9 and 11 Directors
The Executive Committee should be equally represented by the public and private sectors with at least four appointed by the NHCOG
Advisory Committees - stays the same
Independent financial audit should be done on a yearly basis if funds exceed a given amount (amount not determined).
2. Overall goal of the NWCTEDC is to develop and implement the CEDS.
3. Long term organizational goals:
- Hire a paid Executive Director
- Determine sustainable funding sources
- Be specific about attracting new businesses and industries
- Need to brand the region for tourism and businesses
4. Leo questioned the way NWCTEDC is currently operating. He did not offer any suggestions for improvement. Doug suggested that a lot of the CEDS objectives/Initiatives were being addressed.
5. Jocelyn will develop a CEDS progress report outlining progress for each of the CEDS Objectives/Initiatives.
6. Rick Lynn will ask Mark Waterhouse to facilitate a meeting to look at our objectives and funding.
Frank Chiaramonte, Secretary
NW CT Economic Development Corporation