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City of Rochester

Rochester Economic Development Corporation

About REDCO

Rochester Economic Development Corporation (REDCO) is a not-for-profit development corporation, established in 1983, dedicated to stimulating and increasing business investment in the City of Rochester, New York. REDCO's purpose is the creation and retention of jobs, as well as providing viable commercial services for city residents. 

REDCO provides technical, financial and other services to support the growth and success of existing businesses, as well as businesses relocating to the city of Rochester. 

Douglass-Anthony bridge from Corn Hill Landing. 

Mission

As a non-profit development company, REDCO has the ability to provide creative solutions for economic development projects. These include the ability to offer low interest rate loans, provide access to New York State and Federal programs, develop and operate commercial/industrial real estate, and offer specialized loan programs, such as the US Small Business Administration 504 loan program.

There are several ways in which REDCO can provide assistance for qualified economic development projects. Available assistance includes:

  • Access to NYS and Federal Programs
  • Commercial Real Estate Development
  • Low Interest Financing
  • SBA 504 Loans
  • Technical Industrial Assistance

REDCO also links businesses with other organizations, such as the City of Rochester, as well as other local economic development agencies.  For more information, please contact David J. Balestiere at (585) 428-6817.

Reports/Documents

REDCO is subject to the provisions of the New York State Public Authorities Law. As a local authority under this law, REDCO is required to make certain information available to the public.  

 2012  

 
2014  

2013  

 
 

About the Board

REDCO has 18 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 18 Directors must be connected to the City of Rochester and must represent the following groups: lending and financial institutions, business organizations, and community organizations.

The 18 Directors include: four (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 include (minimally): one (1) who is a member of City Council; two (2) who are officials of regulated institutions; two (2) with commercial lending experience; seven (7) who are City residents or who own a business in the City; and overall, represent the demographics of the City population.

Board of Directors

REDCO is operated by an experienced board of public officials, business persons, and economic development professionals. Collectively, the board has the experience to evaluate and work with a variety of businesses and developers. 

Charles A. Benincasa
Director of Finance
City of Rochester

David Rodriguez
Principal
Council Rock Enterprises, LLC

Gary Bonadonna, Jr.
Assistant Manager
Rochester Regional Joint Board

Loretta C. Scott
President, City Council
City of Rochester

Keith Cleary
Director
Business Banking
Ruth Scott
CEO
Scott Associates Consulting, Inc

Sergio Esteban, P.E.
President and CEO
LaBella Associates, PC 

Dale K. Trott
President, DG&M Agency
President, Rochester Black Business Association
James Genthner
Executive Vice President
EPIC Advisors, Inc
Julio Vazquez
CEO, Eugenio Maria de Hostos
Charter School
Michelle A. Hutchinson, Esq.
Managing Partner
Brown & Hutchinson Attorneys at Law
David Young
Business Manager-International
Brotherhood of
Electrical Workers Local Union 86
Barbara J. Jones
Retired VP/Regional Mgr, Community Investment     
JP Morgan Chase Bank
Lovely A. Warren
Mayor
City of Rochester
Dana K. Miller
Vice President, City Council
City of Rochester

Kathleen E. Washington
Acting Commissioner, Neighborhood & Business Development
City of Rochester

Richard Mueller
Group VP, - Western NY/Rochester Commercial
Real Estate
M & T Bank          

 

Officers:

  • Kathleen E. Washington        Vice President  
  • Charles A. Benincasa            Treasurer              
  • David J. Balestiere                Secretary

Committees:

Executive Committee:  

  • Sergio Esteban
  • Richard Mueller
  • Loretta A. Scott

Board Meeting Minutes

REDCO's board meets on an as needed basis. Meeting notices are publicized through the New York State Open Meetings Law. Meetings are held at City Hall, 30 Church, Rochester, New York, 14614.

2011 Board Meeting Minutes 

2012 Board Meeting Minutes 

2013 Board Meeting Minutes 

2014 Executive Committee Minutes 


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