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Cayuga County Development Corporation– CCDC FY 2013 Measurement Report CCDC Measurement Report FY2013 Page 1 Cayuga County Development Corporation FY 2013 Measurement Report Introduction This document is being presented as the Measurement Report for the Cayuga County Development Corporation (“CCDC” or the “Corporation”) Fiscal Year ending 12/31/2013 in full compliance with the New York State Public Authorities Law (“PAL”) Section 2824-a and the NYS Public Authorities Accountability Act (“PAAA”). The goal is to provide a written assessment of CCDC’s efforts to accomplish the Corporation’s goals and objectives outlined in the proposed CCDC Mission Statement (adopted March 27, 2012) and to identify proactive, positive actions for continuous improvement in areas, if any, where these goals and objectives have not been fully realized. The goals and objectives proposed by the CCDC, which the Corporation may be measured against are as follows: Performance Goal The CCDC will work to achieve compliance with current obligations and responsibilities with ongoing projects and programs. Performance Measurement: The CCDC has worked to meet this performance goal with regard to compliance with current obligations with ongoing projects and programs – those that are internal to the operations of the Corporation. For example, the CCDC has met its obligations with regard to administration and management of the various initiatives under its authority, including working with USDA Rural Development to revise and improve the Policy and Procedures Manual for the CCDC Small Business Loan Fund. The work was finalized in March 2014. The Corporation, through the efforts of its staff and partners, also met its program obligations related to outreach and marketing economic development assistance to business entities and developers on its own accord and in partnership and cooperation with other local agencies and organizations. This marketing and outreach resulted in the CCDC working closely with Auburn Community Hospital (ACH) in 2013 when the hospital identified an opportunity to secure considerable saving s and improve overall cash flow by refinancing a 2004 debt using the CCDC as a conduit for tax-exempt revenue bonds. While this work was ongoing, the upstate NY economy continues to lag behind the rest of NYS and the nation and the Corporation was unable to provide any additional projects with loan funds- which will be a primary goal for 2014 – the time of this writing. Still, the CCDC continues to be an active voice in local economic development and job creation initiatives. ---PAGE BREAK--- Cayuga County Development Corporation– CCDC FY 2013 Measurement Report CCDC Measurement Report FY2013 Page 2 Performance Goal Facilitating new projects and programs, which have been identified, and that will achieve the agency’s purposes and mission. Performance Measurement: The CCDC has worked to meet this performance goal with increased efforts in FY2013. Within the fiscal year, the Corporation met with USDA Rural Development to finalize revision of the CCDC Small Business Loan Program Management Guidelines in order to provide craft appropriate eligibility and loan limit parameters more in step with local economic conditions. These changes were approved by the Board in March of 2014. The CCDC expended significant effort to reorganize and restructure the CCDC Board of Directors and the corporation bylaws to allow the County of Cayuga to assume sole membership of the Corporation and in doing so, authorize the re-structured CCDC to act as Cayuga County’s “on-behalf-of” issuer of certain civic facilities bonds in support of capital projects and refinancing plans for eligible not-for-profit institutions in Cayuga County. This restructuring also resulted in a new five-member Board of Directors, appointed by the Cayuga County Legislature, and the orientation of the new Board Members to roles and responsibilities, including required PAAA and PARA training for new Board Members. The Staff for the CCDC likewise performed supported overall Cayuga County economic development. The CCDC and its partners identified the following new projects and programs within the reporting period: Support and Coordination with Partners to establish a county-wide Economic Development Agency. The CCDC, along with its partners, have continued to work with the CEDA - a private-sector led economic development organization now acting as a full-time coordinating economic development “One-Stop” agency aligning the efforts and outreach of the CCDC, the CCIDA, the City of Auburn IDA, the work of the Cayuga County Chamber of Commerce, and the Planning & Economic Development staffs at the City of Auburn and the Cayuga County levels. CCDC has been a strong supporter this new organization. Outreach to Small Business with CCDC Assistance. During the reporting period, the CCDC staff conducted outreach to small manufacturing and agri-businesses to explore instances in which CCDC assistance can be brought to bear for eligible small business development to fill the gap between ability to deploy projects and available resources. These efforts will be expanded in 2014. Performance Goal Making every endeavor to comply with all applicable provisions of the PAAA and PARA requirements. Performance Measurement: The CCDC has been committed to making improvements in the area of compliance with PAAA and PARA. The CCDC has worked with outside counsel to assist CCDC’s limited staff resources with organization and compliance reporting. During FY13 we achieved this goal for reporting on FY12 and we are on track for timely compliance with FY13 ---PAGE BREAK--- Cayuga County Development Corporation– CCDC FY 2013 Measurement Report CCDC Measurement Report FY2013 Page 3 reporting. We have established the necessary internal policies – with the necessary resources, to accomplish this. Recognizing that the lack of full-time staff devoted to CCDC overall work and more specifically with regard to PAAA and PARA compliance was a handicap that needed to be addressed, the CCDC worked closely with partner agencies and the County during FY13 to establish a “one- stop”, full-time economic development arm for Cayuga County to be embedded in our partner agency, the Cayuga Economic Development Agency (CEDA). Finally, in separating the sole membership of the Corporation from the Cayuga County IDA, the CCDC continued to work with an independent accountant to insure that the CCDC conduct independent financial audits present subsequent reports within the PAAA and PARA compliance and reporting period. Performance Goal To maintain the highest ethical standards applicable to public officials and public benefit corporations. Performance Measurement: The new CCDC Board of Directors reviewed the CCDC adopted Code of Ethics at their organizational meeting. The document defining the adopted CCDC Code of Ethics is available to the Board, and to the general public online at: http://co.cayuga.ny.us/planning/ccida.htm (please refer to the CCDC FY2013 Annual Operations and Accomplishments Report which includes the Code of Ethics) and at the CCDC offices.