Mission: To promote the comprehensive growth and sustainability of the Village and its businesses.
Overview: The Montgomery Development Fund (MDF) was established in 2017 to replace and expand upon the former Revolving Loan Fund. The program was capitalized with proceeds from a former Community Development Block Grant after the funds were turned over to the Village from the state. The MDF was established to provide financial assistance to new or expanding businesses in the Village.
This Committee considers requests from businesses seeking financial assistance through the Village's Development Fund and makes recommendations to the Board of Trustees.
Commitment: Serving on the Montgomery Development Fund Committee is a long-term commitment with duties that include meetings and reviews proposals as needed.
Montgomery Development Fund Committee meetings are held at Village Hall on an as-needed basis.
Membership and Term: Committee membership shall be appointed by the Board of Trustees and be comprised of at least four (4) resident electors of Montgomery to serve an initial term of four (4) years starting May 1, 2024. The Board of Trustees has the authority to appoint additional members and/or alternate members as appropriate to facilitate the work of the Committee.