Community Development Corporation of Sault Ste. Marie & Area
Monday, July 24, 2017

Committees

Investment Committee

The Investment Committee is comprised of as many members as the board sees fit to carry out the duties of the committee. At least 60% of the members of the committee shall be directors of the corporation. The remaining committee members will be members of the Corporation. In all cases, members of the Investment Committee are deemed to have investment and business experience within the community. The chair of the Investment Committee is determined by the Board of Directors of the Corporation and is a director of the Corporation.

The Investment Committee will consider the following types of investments on behalf of the Corporation:

• Demand loans;
• Term loans;
• Loan guarantees; and
• Equity investments

The role of the Investment Committee is to advise the board of directors with respect to loan applications made to the Corporation and in accordance with the terms of reference, policies and guidelines as specified by the board of directors from time to time.

The Investment Committee also looks to further enhancement of the investment fund and recommends activities to the board of directors to carry out this mandate.

The Investment Committee is also responsible to foster the establishment, expansion and stabilization of small business in the community through the provision of counselling and referral services to small business and/or persons seeking to establish new businesses within the community.


Community Development Committee

The Community Development Committee is comprised of as many members as the Board sees fit to carry out the duties of the committee. At least 60% of the members of the committee are directors of the corporation. The remaining committee members are drawn on from the members of the corporation or from the community at large. The make–up of the committee shall address a cross section of the community at large. The chair of the Community Development Committee is determined by the board of directors of the Corporation and is a director of the corporation.

The Community Development Committee co–ordinates the strategic planning activities of the Corporation. The committee identifies the causes of the community’s labour market problems; assesses the community’s potential for change and recovery; and identifies the immediate and longer term employment adjustment needs of the community. The committee works with and facilitates with other organizations to design and co–ordinate community–based development strategies that clearly outline a realistic plan of action. The Community Development Committee recommends activities to the board of directors to carry out this mandate.