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You are here: Home / Departments / Department of Development / Local Development Corporation

Local Development Corporation

The Jamestown Local Development Corporation (JLDC) is a not-for-profit corporation created by the Jamestown City Council in April 1981 which serves as the lending agency of the City of Jamestown’s Department of Development. No taxpayer dollars are used as loan money. Seed money for this revolving loan fund was provided by repaid loan proceeds from Urban Development Action Grant (UDAG), Community Development Block Grant (CDBG), and Jamestown Urban Renewal Agency (JURA) projects.

The JLDC offers fixed, low interest rate loans, (currently 5% – 6.5%), for a variety of purposes including;

  • business start-up,
  • real estate acquisition and renovation,
  • machinery and equipment purchases,
  • local artisan development,
  • downtown restaurant development,
  • technology based business development,
  • and energy efficiency improvements to commercial and industrial buildings.

The JLDC, by policy, cannot provide loans for projects that involve only working capital or inventory nor refinance loans.

JLDC loan maximums range from $35,000 to $350,000 based upon various loan programs and varying percentage participation levels.

Loan reviews and decisions are made by a nine (9) member Board of Directors who meet on the first Monday of each month. In addition, loans over $100,000 must be ratified by the Jamestown City Council.

The JLDC requires a minimum ten percent (10%) cash equity infusion by all project applicants and requires all loans to be personally guaranteed by principals within the business.

Since its inception, the JLDC has made and administered over 250 loans, totaling more than $13,500,000, which has leveraged in excess of $60,000,000 in private investment. This has resulted in the creation of more than 2,296 new jobs while preserving 2,379 positions. The JLDC currently has $4,577,359.06 in totals assets with $2,773,304.33 in loans receivable.

Local Development Corporation Pages:

  • JLDC Mission/Bylaws/Certificate of Incorporation
  • JLDC Meeting Minutes
  • JLDC Budgets
  • JLDC Financial Statements
  • JLDC Measurements
  • Loan Programs

Mission Statement

The JLDC is the lending arm of the City of Jamestown and seeks to foster economic development through the provision of low interest rate loans to Jamestown businesses and industry as a means to encourage private sector investment via the expansion of existing firms and the establishment of new businesses with the ultimate goal of preserving or increasing the real property tax base and retaining and creating jobs.

Board of Directors

2017 JLDC_Board of Directors (PDF)
2016 JLDC Board of Directors (PDF)

Polices

Conflict of Interest and Whistleblower Policies (PDF)

For More Information

Stephanie Wright, Economic Development Coordinator

Department of Development
Third Floor, Municipal Building
Jamestown, NY 14701

Phone: (716) 483-7541
Fax: (716) 483-7772

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Municipal Calendar

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    City Council Closures Human Rights Commission Information Session JLDC Parks Commission Planning Commission Public Hearings Riverfront Management Strategic Planning Veteran's Commission Zoning Board
Agenda
Agenda
Day
Month
Week
February 2021 Feb 2021
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Feb
1
Mon
Veterans Commission @ Municipal Building, 4th Floor, Mayor's Conference Room
Tickets
Feb 1 @ 5:00 pm – 6:00 pm
Read more
Tags: Veteran's Commission
City Council Work Session @ Via Zoom
Tickets
Feb 1 @ 7:30 pm – 9:30 pm
Read more
Tags: City Council
Feb
2
Tue
Jamestown Parks, Recreation & Conservation Commission @ See the Agenda in this Event for Location
Tickets
Feb 2 @ 5:00 pm – 6:00 pm

THE UPDATED AGENDA IS POSTED ONE WEEK PRIOR TO THE MEETING. PLEASE VERIFY AGENDA DATE MATCHES THE MEETING OF YOUR INTEREST

** Per NYS guidelines, the public is still not allowed to attend the meeting in person. The meeting will be livestreamed on the City of Jamestown website **

CITY PARKS, RECREATION AND CONSERVATION
COMMISSION MEETING

AGENDA
TUESDAY, November 3, 2020
5:00 P.M.

Police Training Room, 4th Floor, Municipal Building
***Mask will be required***

I. ROLL CALL
II. APPROVAL OF MINUTES OF September 1, 2020 Meeting
III. OPPORTUNITY FOR PERSONS TO ADDRESS COMMISSION
IV. REPORTS OF COMMITTEES AND PROJECTS
• Report from Riverfront Management Council/Riverwalk
• Christmas Tree/Decorations
• Tree Planting
• Budget
VII. GOOD OF THE ORDER
VIII. Adjournment

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Tags: Parks Commission
Feb
3
Wed
Zoning Board of Appeals @ Via Zoom
Tickets
Feb 3 @ 5:00 pm – 6:00 pm
Read more
Tags: Zoning Board
Feb
8
Mon
City Council Work Session
Tickets
Feb 8 @ 7:30 pm – 9:30 pm
Read more
Tags: City Council
February 2021 Feb 2021
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Copyright © 2021 · City of Jamestown · Municipal Building · 200 East Third St · Jamestown NY 14701
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The City of Jamestown has been and will continue to be an equal opportunity organization. The City is committed to complying with New York State Executive Law §296 and New York State Civil Service Laws, and is committed to Equal Employment Opportunity (EEO) for all persons regardless of age, race, creed, color, national origin, sexual orientation, military status, sex, disability, predisposing genetic characteristics, familial status, marital status, or domestic violence victims. This Equal Employment Opportunity Policy (EEOP) applies to all employment practices including recruitment, selection, promotion, termination, transfer, layoff, compensation, training, benefits and other terms and conditions of employment. Successful achievement of EEO benefits the City through fuller utilization and development of human resources which may be otherwise underutilized.