Terms of Reference – Opportunity Olds Committee

Opportunity Olds Committee Terms of Reference

Terms of Reference October 9, 2013

Vision

Opportunity Olds Committee (OOC) is recognized for enabling sustainable, vibrant investment relationships focusing on regional development.

 Mission

Opportunity Olds unleashes local capital for investment opportunities in our regional community.

 Mandate

The mandate of Opportunity Olds Committee is to link local capital to local projects. The committee would facilitate the investor and the Alberta Community and Co-operative Association process.

 Guiding Principles

The OOC actions are guided by:

 

  1. Integrity: We act in a trustworthy manner.
  2. Transparency: We will communicate progress clearly to project stakeholders.
  3. Community Focus: We embrace projects that are beneficial to the community
  4. Discussion: Ensure each Board member has an opportunity to contribute to the discussion and decisions.
  5. Conflict Resolution: We treat conflict as an opportunity for growth.

 

Membership

Membership will consist of seven (7) to eleven (11) members. The Committee is made up of an executive, being the Chair and Vice-Chair. There will be representation from the Business Attraction and Retention Committee and remaining members will be at large. The Olds Institute would provide a recording secretary.

 Meeting Terms

The OOC will meet as opportunities are identified as well as at the call of the Chair.

Budget

The forming body has recommended a budget for 2014 as operating in the amount of $2,500.00.

 Governance

The OOC will support sustainable projects that:

  1. Project a financial return on investment for the member/investor plus community development benefit, which may be economic, environmental, social or cultural, or a blend of these dimensions.
  2. Adhere to OOC processes and structures to ensure accountability, including fiscal, administrative and legal accountability.
  3. Address sustainability in all assessments of projects, including environmental, economic, social, cultural and governance dimensions.
  4. Have a proactive preference to fill gaps in community economic, social and cultural development as well as responding to crisis situations.
  5. Require varying degrees of resources and/or support structures.
  6. Are local and/or regional in nature.
  7. Develop comprehensive business plans that demonstrate long term viability, which include mitigation of risk.
  8. We exercise due diligence in decision-making.

Strategy

Target new dollars

Outcome Statements

  • Enable movement of dollars in our community in order to decrease dependence on government dollars.
  • Provide balance between investor expectation and community good.
  • Leverage community/OI committee projects (i.e., Olds Foundation)

Download a PDF version of Opportunity Olds Committee Terms of Reference