From Press, Staff Reports

The Tennessee Valley Authority cites these as "Key elements of successful public/private partnerships." Handouts listing them were distributed at the Oct. 18 economic development meeting in Eupora:

€ Agreement by public and private leaders that a unified local development program is needed.

€ A commitment by local leaders to provide continuing support to the partnership and to work as a team toward a common, realistic vision of the community's future.

€ Leadership which understands the nature of economic development and the short- and long-term investments required for success.

€ A flexibile, action-oriented structure which combines the best features of public and private development agencies and builds on the strengths of local organizations.

€ A representative governing body which may include representatives of government, business, banks, labor, educational institutions, utilities, minorities, women and community organizations.

€ An action orientation which allows it to respond rapidly to economic development opportunities and problems while achieving operational efficiencies.

€ A governing and operating structure which provides for a wide range of citizen involvement.

€ A unified (or centrally developed or administered) budget which focuses resources on selected priorities and ensures coordinated program development and implementation.

€ A strong and continuing financial commitment by the local public and private sectors to support the partnership (either through memberships, contributions and/or project revenues).

€ A commitment to, and public involvement in, program development project implementation.

€ A strong public information and membership recruitment program.

€ A broad-based development program which allows the partnership to address a wide range of economic opportunities (such as targeted recruitment, expansion and retention of existing businesses, retail and service sector development, entrepreneurship, tourism, downtown revitalization, education and workforce development, infrastructure improvement, leadership training, community finance and community development) and issues, including community consensus building and mediation and competing interests.

€ A commitment to strategic and business planning, targeted investment, and measurement and public reporting of results and return on investment.

€ Ability to provide continuity and consistency of service delivery in the development process.

€ A focus on targeted projects (with detailed action plans) which achieve visible results (such as jobs, capital investment, payroll, improvement in community support systems).

€ Ability to coordinate public and private resources (including political influence) to assist projects.

Ş Ability to provide creative, deal-closing technical assistance and project financing.

€ Evidence of a strong commitment to a philosophy of continuous improvement.

€ Professional staff committed to, and capable of, implementing the partnership's initiatives.