Below is a proposed structure for the re-formation of the group that had managed Community Development Block Grant (CDBG) funds for small business loans in town. Those funds have been full circulated and so there is opportunity to move beyond the original purpose and limitations established through the CDBG program. There is also a growing interest in supporting economic development in Readfield in other ways and the Readfield Select Board has set economic development as an ongoing goal for the community. The proposed structure is based on the original committee composition recommended for the CDBG program, but also reflects the present environment and need for clear committee organization and directives.
The purpose of the Readfield Enterprise Committee is to manage the Readfield Enterprise Fund using uniform program-appropriate lending practices, as well as provide guidance to the Select Board on matters of economic development. The Committee is formed pursuant to a vote of the Select Board. The Committee is advisory to the Select Board.
Organization and Administration
Committee Term - The committee shall be in effect indefinitely until disbanded by the Select Board
Membership - The Committee shall consist of seven members who shall serve without compensation and shall be appointed by the municipal officers. The Select Board will consider the following recommended representation in making appointments, whenever possible, with the understanding that this representation is not a requirement:
- One member of the Select Board
- One Readfield businessperson
- One CPA or finance specialist
- One attorney of legal professional
- One at large Readfield Resident
- Two non-voting ex officio members in the Town Manager and Finance Officer
Appointment - The Committee shall be appointed by the Board of Selectmen in consideration of the Procedures for Application and Appointment. Appointments may be terminated without cause by a majority vote of the Board of Selectmen.
Member Term - Members shall serve for terms of three years. Terms shall be initially staggered as follows:
- One - one-year term
- Two - two-year terms
- Two - three-year terms
Chairperson - The Committee shall elect a Chairperson from among its members. The Chairperson shall call meetings as necessary or when so requested by a majority vote of the Select Board. The Chairman shall preside at all meetings.
Vice Chairperson - The Committee shall elect a Vice Chairperson from among its members to serve in the absence of the Chairperson.
Secretary - The Committee shall elect a Secretary from among its members. The Secretary shall maintain a record of all proceedings including all correspondence of the Committee and regularly submit the records to the Town Clerk.
Notice - All meetings shall be held in a public place and scheduled through the Town Manager or Clerk who shall provide reasonable notice to the public.
Quorum - A quorum necessary to conduct business shall consist of at least a majority of voting members.
Committee Support - The municipal officers and town staff shall cooperate with and provide the Committee with such information as may be reasonably necessary and available to enable it to carry out its duties. The town staff shall also provide assistance updating electronic records as necessary.
Public Meetings and Records - All meetings and records shall be subject to the Maine Freedom of Access Act, 1 M.R.S.A. Sections 401-410 and the Town of Readfield FOAA Policy.
The Committee shall, in no particular order:
- Review and revise current lending guidelines and programs.
- Manage current and future lending programs.
- Hold public meetings and pursue other outreach to solicit input from the community on matters of economic development.
- Involve relevant committees, organizations, institutions, and interested parties in developing economic development strategies.
- Make recommendations to the Budget Committee and Select Board regarding revenues and expenditures related to economic development activities as a part of the regular budget process.
- Report to the Select Board a minimum of semi-annually, generally in January and July.