Ian, the way the LDC is structured will have a major impact on the opportunities or challenges that will be faced in creating sustainable funding streams. Short answer to that point is that an LDC that is structured as a 501c3 nonprofit corporation will have far more options for pursuit of funding and funding streams than a quasi-governmental entity created through statute or similar law with a defined purpose. One increasingly used funding stream can be found in the creation and operation of non-traditional revolving loan funds especially aimed at financing small businesses. Common practice is that interest charged and fees assessed for applications are used as ongoing funding streams for the corporation's operation with the principle repaid then reissued as new loans. There are some communities in some form that will partner with LDC type of operations to manage Tax Increment Financing agreements and/or districts with a portion of TIF payments going to the LDC for operational ends or with TIF recipients paying an annual management fee as part of the TIF agreement with the payment going to the LDC. Finally, the advantage of a LDC that is 501c3 is that it has the ability to pursue Foundation grants, corporate philanthropy funding, individual and corporate donations, and state and federal grants.

The way the City Of Columbia raises revenue for our Local Development Corporation Funding would be that we save more money by determining first if the project is feasible or not. If the project is determined to be feasible then it is approved and they are then given a one million dollar grant from EPA, which covers phase I and phase II of the project. The City Of Columbia gets the grants from the Congaree Coalition which gives out the grants to businesses in Columbia. The way revenue is raised would be first acquiring a grant from the EPA which is the Environmental Protection Agency, and after they have gotten these Brownsfield sites back into use then great revenue is generated and the money is then put to use for another business that needs a grant.