Columbia Development

The Columbia Development Corporation operates with a 15-member Board of Directors, appointed by the Columbia City Council. Five out of seven members of the City Council are voting members of the CDC Board, providing the CDC with opportunities to develop City Council consensus prior to any official Council vote on a CDC-related issue. The Mayor appo... ints the Chairman of the organization. Other members of the CDC Board are chosen at-large; many are property owners, interested developers, Vista businesspeople, and representatives of community institutions, such as the University of South Carolina. The City Manager and Director of Economic Development are ex-officio members. Two staff members provide day-to-day operations -- an Executive Director and an Executive Assistant, both employees of the City of Columbia and assigned full-time to the Corporation. The CDC Board of Directors holds monthly meetings to discuss funding issues, property purchases and sales, and new partnerships. The Board holds a yearly retreat to review the organizational work plan and to set a flexible work plan for the following year. Committees appointed by the Chairman, Real Estate, Business, and a Neighborhood Relationship Committee provide guidance to the Executive Director on an as-needed basis. The Executive Director and the Board Chairman approve some issues discussed by the Board pending final negotiation. No members of the Columbia City Council sit on individual committees of the CDC Board. The Columbia Development Corporation receives an operating budget from the City of Columbia. The annual general fund appropriation provides salaries, office, and general day-to-day operating expenses. The cost of operating the organization is supplemented by a contribution from the CDC that boosts the organization each year. In addition to the operating budget the Corporation manages a revolving fund used to initiate economic development partnerships, purchase and land-bank property, give loans and grants, and provide development assistance (e.g., ...Read More