Economic Development Authority

Economic Development Authority (EDA) Meeting Minutes Tuesday, May 2, 2023  7:00 pm City Hall, Dogwood Room, 300 Park Avenue, Falls Church VA 22046 1. Call to Order: at 7:05 PM by EDA Chairman Bob Young 2. Meeting Attendees: EDA Board Members Present: In Person: Chairman Bob Young, Ross Litkenhous, Sandy Kiersz, Jim Coyle Virtual: Ed Saltzberg Council Liaison Present: Letty Hardi City Staff Present: Jim Snyder, Becky Witsman, Naomi Goodwin Public Attendees: Debbie Hiscott, Michael Graff, Nicholas Benton, Tim Stevens, Jimmy, Alan Brangman Bob Young motioned that the EDA approve remote participation by Ed Saltzberg in tonight’s meeting due to work reasons, Sandy Kiersz seconded. Unanimous approval. 3. Approval of April 11, 2023 EDA Meeting Minutes: April 11, 2023 EDA Meeting Minutes Jim Coyle motioned to approve the minutes, Sandy Kiersz seconded. Unanimous approval. 4. PNC Bank request of EDA for modification to 2013 financing agreement for Series 2013A Industrial Revenue Bonds and Deed of Trust for the Tax Analysts building. This includes (1) documenting the January 1, 2018 reissuance, (2) transitioning 2013A Bond’s interest rate index from LIBOR to SOFR, and (3) reissuing the Series 2013A Bond in 2023 with a modified interest rate multiplier. Legal counsel [Michael Graff – (Maguire Woods)] provided background, led discussion and responded to questions. Jim Coyle motioned to authorize the amendment and reissuance of the remainder of the Economic Development Refunding Revenue Bond Tax Analysts Project Series 2013A to the SOFR interest rate index, Sandy Kiersz seconded. Unanimous approval. 1|Page  5. Introduction of new EDO Business Development Analyst New EDO Business Development Analyst (Naomi Goodwin) was introduced by staff and welcomed by the EDA. 6. Mixed use ground floor voluntary concessions Continuation of discussion in re: providing input to City Council in re: a policy for future ground floor voluntary concessions in mixed use projects (uses, duration, revenue expectations, etc.). Advantages seen with narrow list of prohibited uses for voluntary concessions so as not to block potentially beneficial, novel future uses. For example: maker spaces and co-working spaces. Discussion to be continued at a future meeting Staff advised that: a. City planning staff will also explore this issue so future discussion can be informed by that staff work b. Small area plans will provide guidance c. A retail real estate expert currently in the process of being engaged will provide further input d. The City’s Zoning Code is also a key consideration regarding land use EDA expressed interest in combining future EDC and EDA potential retail use discussions with different brokers presenting at each meeting with Lisa Benjamin (retail real estate consultant) flagged as a potential presenter at the next meeting. 7. Updates/discussion led by staff: a. Virginia Village Memorandum of Understanding/closings: i. Late July 2023 closing now anticipated ii. Delays related to additional VA Housing cost related scope requirements iii. Approximately $80,000 in 302 Shirley St checking account to be refunded to the EDA b. Parklets: i. S Washington St alley parklet being prioritized as per previously indicated EDA preference. Other parklet projects currently on hold. ii. The City has received two cost estimates for the draft design proposals for the S Washington St alley parklet to ensure final design is affordable. iii. Revised draft design for the S Washington St alley parklet incorporating ADA and other amendments following site meeting with the City Building Official presented iv. Draft design has been shared with local property owners, the socialization of the concept will continue to get feedback and more bids will be sought to ensure final design falls within budget. 2|Page  v. Clarification provided re: project scope does not include an upgrade of the adjacent parking lot. vi. Site name possibility ‘Tinner Hill Plaza’ floated. vii. Maintenance program to be determined but to be undertaken by contract. ARPA funds likely to be used for this initially. viii. Construction start not anticipated until fall 2023 at the earliest as it is dependent on the contracting process. c. Commercial district amenities: i. Flowers to be planted in street pole baskets soon ii. Staff met with Brightview today and expect estimate for spring clean up of Mr. Brown’s Park soon. iii. Regarding banners. Installation of new/replacement banners under consideration. Discussion regarding possibly waiting for installation of 75th Anniversary banners in July. d. Hiring/managing a market research consultant: i. Contracting process underway. ii. Consultant will attend next meeting. b. Hiring/managing a marketing/advertising consultant: i. Staff are in discussions with a marketing consultant. ii. Next step is to create a ‘Scope of Work’. iii. This work will follow retail market research. iv. More information will be provided at the next meeting. e. Restaurant week and mini-tourism web site: i. Staff meeting with Tricia Barba (Preservation Biscuit) tomorrow. ii. Anticipated that the marketing consultant will assist with the mini-tourism web site. iii. More information will be provided at the next meeting. 8. Updates on new business openings and City projects/retail Overview of progress on numerous commercial projects in the City provided by staff with a focus on major developments. 9. Update on Levine Music School and City Dance Bob Young provided an update. Anticipated to provide synergy with the schools. 10. EDO staff vacancy update 3|Page  Staff advised many resumes have been received for the Marketing Specialist position. Review of resumes and interviews to follow. Discussion regarding non-permanent nature of the position. John Coyle asked why the position had not been made permanent. Letty Hardi advised this was because there were insufficient City funds available this year for many unmet City needs. Staff advised that there would be more hotel tax incoming as rooms open in new developments, which may be able to pay for a permanent position. 11. Other member issues Ross Litkenhous provided information regarding a May 8 real estate focused event (Hilton Garden Inn 9 am – 3 pm). Invited Letty Hardi to provide a ‘Welcome’ and City staff to talk to the group. Staff provided an overview of upcoming NOVA Economic Development Alliance FAM tour with representatives of the Virginia Economic Development Partnership. 12. Adjournment at 8:33 PM 4|Page