• Message from the Board Chair
• About Community Futures
• Loan Portfolio
• Community Economic Development Projects
• Outlook for 2007-08 Operating Year

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Much has been said in past reports of the “impending” development of a major destination ski resort on Mt Mackenzie. With the sale of condominiums and metal on the mountain, the resort is fast becoming reality with all the very real promises and pitfalls that major resort development brings to a small community.

As always, Community Futures stands ready to assist entrepreneurs with support and expertise in business development. Our loan portfolio currently has the capacity to lend $3.1 Million to local businesses. The Self Employment Benefit Program is experiencing increased interest with very promising business ideas.

We are also cognizant of Revelstoke’s Vision which speaks of balancing environmental, social and economic values and the importance of this in creating a sustainable, healthy and resilient community. For example, surely Revelstoke will be a better place with affordable housing and with conservation of our natural heritage. One of our challenges as a proactive Community Futures Board will be to continue to assist the community in developing workable strategies that also address social and environmental concerns.

Early this year, Revelstoke was the proud recipient of the first Excellence in Partnership Award presented by the Economic Development Association of British Columbia and Community Futures British Columbia. The award recognizes the best example of a joint initiative by an economic development organization and a Community Futures Development Corporation in British Columbia. Many successful economic development programs and initiatives which have provided clear benefit to Revelstoke, have resulted from our long history of collaboration and cooperation.

On behalf of the board, thank you to all the volunteers of the loan, self employment, business mentorship and special project committees and to the staff for their continued dedication to Revelstoke’s future.

The board also wishes to say a special thank you to Carol Palladino for her nineteen years of exemplary service to Community Futures. We wish her ‘bon voyage’ and all the best in the future where ever her many talents may lead her.

Respectfully submitted,
Mike Cummings, Chair

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The corporation operated with an annual budget of $458,000 which includes $257,708 core funding support from Western Diversification. Forty volunteers were actively involved with Community Futures providing 240 hours of volunteer time.

During the year 1,332 advisory services were provided to clients. Fifteen loans were approved totalling $895,500. Fifteen clients were accepted to the Self Employment Benefit Program. Six businesses were assisted through the Business Mentorship Program. Seventy eight jobs were created or maintained through these business service activities.
 

Staff:

• Darryl Willoughby,
  General Manager
   
• Margaret Pacaud,
  Administrative Assistant
   
• Carol Palladino,
  Loans Analyst
   
• Kevin Dorrius,
  Self Employment Coordinator
   
• Debra Wozniak,
  Special Projects Coordinator
   
• David Royce,
  Business Mentorship Facilitator
   
• Andree Rioux,
  Reception
   

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Current value of loans receivable is $1,994,000. Since 1988, $14.14 million has been loaned to 519 business loan applicants creating or maintaining 1,351 jobs.

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Business Mentorship Program
After almost seven years of providing business facilitation and mentorship services the program was concluded on March 31, 2007. During that time a total of 293 contacts were made with prospective entrepreneurs of which 195 became active clients resulting in 58 businesses that were either initiated or improved.

New Resident Survey
A new resident survey was initiated to assist with determining who our new residents are, where they came from and what brought them here. Twenty one responses were received and the emerging trends are:

• 40% from BC, 40% from Alberta
• 50% aged 30 – 49 and 10% are children
• Most found out about Revelstoke from either family/friends or having vacationed or drove through here.
• 50% moved here for employment / business reasons
• 50% moved for lifestyle / retirement reasons.

Volunteer Fair
A Volunteer Fair was held September 19, 2006, in an attempt to encourage volunteerism. 24 participating clubs/organizations set up displays & 50 recognition certificates were awarded to outstanding community volunteers. Mike Cummings was nominated as Community Futures’ Volunteer of the Year. A website was launched at www.revelstokecf.com/volunteers to help raise awareness about volunteering in Revelstoke.

Secondary Suites & Accessory Dwelling Units
In partnership with the City of Revelstoke planning was initiated for hosting a community forum to inform residents about the need for developing rental housing stock utilizing existing residential properties. The regulating bylaws and building codes will also be explained at the public meeting.

Revelstoke Community Foundation
CFDC provided administrative support to the Foundation during the year. Darryl Willoughby is CFDC’s representative to the Foundation Board. At December 31, 2006, the Foundation reported total endowment contributions of $1,011,097.

CFDC Scholarship Fund
In June 2006, Derrick Murray was awarded a $500 scholarship for a student planning to enter into small business following completion of post secondary education.

Community Connections Assistance
Staff continue to work with this organization to ensure it becomes a sustainable community service. $1,900 from our Endowment Fund on deposit with the Revelstoke Community Foundation was granted to their Bear Necessities program.

Community Futures Association
The Association completed a common brand program resulting in the development of a new Community Futures logo, colour scheme and tagline “Growing communities one idea at a time” that presents a unified profile for Pan West Community Futures organizations.

Museums & Gallery Collective
Staff continue to work with Collective members to market Revelstoke’s Cultural attractions.

Mount Begbie ASCENTennial
To help celebrate the 100th anniversary of the first recorded ascent of the Mount Begbie Summit on June 11, 1907, staff is working closely with a dedicated committee to organize a community event. A time capsule containing a collection of items from the current times as well as some historical records pertaining to Mount Begbie will be buried on the mountain and recovered in 100 years time.

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The development of the Revelstoke Mountain Resort and anticipated installation of Turbine #5 at the Revelstoke Hydroelectric Dam, coupled with recent positive economic results in both tourism and forestry, position the community to benefit through continuing economic prosperity over the next few years. The recent growth has exposed some challenges particularly with affordability and availability of housing, and attracting and retaining sufficient skilled workers. Resolving these issues as well as addressing other emerging socio-economic needs will be the focus of our organization’s community development initiatives over the foreseeable future.

The corporation had positive results in business advisory, loan fund and self employment activities during the past year and expects to have even better results in the upcoming year. The initial months of this fiscal year indicate better than average activity for both loans and self employment. Last year our loan volume and numbers where down marginally from the previous year while our self employment contract volume increased. This year we plan on loaning $900,000 to 20 clients and signing 20 people on to the self employment benefit program. Our community development activity has slowed over the past year as funding has dried up from Western Economic Development for the types of projects favoured by our community. We hope to get involved with more community development initiatives during the next year as stakeholder support for projects becomes evident or as priorities are established in the new Community Development Strategy currently underway.

Operationally we will face a year of transition with Carol Palladino leaving our organization and the community to go on another extended motorcycle journey. Carol started with Futures in March of 1988, our first year of operations. She played a major role in building the loan fund and the integrity of our lending and business advisory services. She leaves big shoes to fill. Her attitude, smile and sense of humour will be greatly missed by all staff on both a personal and professional basis. Kevin Dorrius is taking Carol’s place in lending and we welcome Kyla Schell as our new self employment coordinator. As much as we will miss Carol I am confident that the corporation will be well served and prosper with the new and advancing staff.

This coming year we will roll out the Community Futures common brand program with a new logo and look to our marketing materials that will be applied to all participating Pan West Community Futures organizations to create a unified profile.

We plan on continuing our support and participation with the Revelstoke Community Foundation, Community Connections, Railway Museum and the Visual Arts Centre as well as actively trying to attract new people to our organization and its endeavours.

The passion, dedication and hard work of our many volunteers are the key to our success. In addition our skilled and committed staff provides the necessary support to ensure that activity proceeds as planned.

Darryl Willoughby, General Manager

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