REDCO has 25 members, 18 of whom are designated as directors. The corporation is committed to stimulating and increasing business investment within the City and operates under the following primary public objectives:
- Supporting commercial, industrial and manufacturing growth within the City;
- Creating employment opportunities, particularly for low and moderate income persons, and improving the quality of employment and the condition of life in the City of Rochester;
- Providing technical and financial assistance to new and expanding City businesses, and to businesses relocating to the City; and
facilitating real estate development projects that result in a significant benefit to the community. REDCO's loan and grant programs are funded through Federal, State and local funding sources.
The 25 members must include 13 City residents and must fairly represent the following groups: lending and financial institutions, business organizations, and community organizations.
The 18 Directors include 4 who are ex-officio by virtue of their position in City government, including the: Mayor, Commissioner of Neighborhood and Business Development, Finance Director, and President of City Council. The remaining Directors, selected from the Membership include (minimally): 1 who is a member of City Council; 2 who are officials of regulated institutions; 1 with commercial lending experience; 7 who are City residents or who own a business in the City; and overall, represent the demographics of the City population.
Additional information is available at REDCO .