Economic Development Authority

INDUSTRIAL DEVELOPMENT AUTHORITY of the CITY OF HAMPTON, VIRGINIA Minutes – Regular Meeting September 21, 2010 – 8:30 A.M. IDA Conference Room CALL Chair Benson called the meeting to order at 8:30 a.m. TO ORDER DIRECTORS William H. Benson, Perry T. Pilgrim, Wallace C. Arnold, Dr. PRESENT Lewis J. Bellinger, James R. Joseph, Anne W. Shuford and Ben A. Williams, III. Also present were Secretary-Treasurer James L. Eason and IDA Attorney S. Frear Hawkins, II. STAFF Mary Bunting, Pete Peterson, Vanessa Valldejuli, Bruce Sturk, PRESENT Ellen Templeton, Daniel Girouard, Jessica Spencer, Angela Freeman, Michael Yaskowsky and Teresa Hudgins GUEST Councilman Donnie Tuck PRESENT Craig Davis and Steve Mallon with Craig Davis Properties Clay Culbreth with Thalhimer Commercial Real Estate MINUTES Chair Benson stated the Minutes of the August 17, 2010 IDA board meeting were distributed. A motion was made by Mr. Joseph and seconded by Mr. Williams to approve the minutes as submitted. The motion carried. LOAN Mr. Pilgrim reported the Loan Review Committee met on August PROGRAM 30, 2010. The Loan Status Report reflects several loans as 30 days delinquent. Staff reported those loans are now current. EDL, LLC owes the August payment. The Cawthorns Cut & Fitness Center loan has been moved to worthless securities on the Statement of Account and will no longer appear on the Loan Status Report. Staff is liquidating collateral securing the Brazilian Bronze note. The Committee considered a Neighborhood Retail Revitalization Program application from LaBodega for the replacement of interior shelving in the amount of $510. A motion was made by Mr. Arnold and seconded by Mr. Williams to approve the request as submitted. A roll call vote was taken which resulted as follows: Ayes: Arnold, Bellinger, Joseph, Williams, Pilgrim and Benson Nays: None Note: Ms. Shuford was not present for the vote ECONOMIC Mr. Eason said the updated Status Report on IDA Actions was DEVELOPMENT included in the package and there were no changes since the last REPORT meeting. Mr. Eason asked Mr. Girouard to provide a brief update on the Virginia Tech-National Institute of Aerospace project. Mr. Girouard reported the Land Donation Agreement has been executed and Mr. Hawkins is working on amendments to the covenants and deed. The IDA Design Review Committee reviewed the preliminary plans and forwarded comments to Virtexco. Mr. Eason said staff sent a letter to approximately 35 businesses that may be affected by the JFCOM closing. We received five responses that no serious impact was expected due to the potential closure. Mr. Joseph asked if the Lang wetlands parcel could be added to the Status Report for tracking purposes. CLOSED Mr. Benson stated a Closed Meeting will now be held in MEETING accordance with Sections 2.2-3711 A.3 & A.7 of the Code of Virginia to discuss or consider the disposition of publicly held real property in the Coliseum Central area where discussion in an open meeting would adversely affect the bargaining position or negotiating strategy of the Authority and to consult with legal counsel regarding specific legal matters requiring the provision of legal advice by such counsel and Section 2.2-3711 A.5 to discuss a prospective business or industry where no previous announcement has been made of the business or industry’s interest in locating or expanding its facilities in the community. A motion was made by Mr. Williams and seconded by Mr. Pilgrim to go into the closed meeting. A roll call vote was taken which resulted as follows: Ayes: Arnold, Bellinger, Joseph, Shuford, Williams, Pilgrim and Benson Nays: None CERTIFICATION Chair Benson stated it was now appropriate to take a Roll OF CLOSED Call vote and that to the best of our knowledge (i) only public MEETING business matters lawfully exempted from open meeting requirements under this chapter, and (ii) only such public business matters as were identified in the motion by which the Closed Meeting was convened were heard, discussed, or considered in the Closed Meeting. Any member who believes there was a departure from the requirements of subdivisions (i) and (ii) shall so state prior to the Roll Call vote, indicating the substance of the departure that, in his/her judgment has taken place. Such statements shall be 2  recorded in the Minutes. Chair Benson asked for any statements. There were none. A motion was made by Mr. Arnold and seconded by Ms. Shuford to conclude the Closed Meeting and return to the meeting. A Roll Call vote was taken which resulted as follows: Ayes: Arnold, Bellinger, Joseph, Shuford, Williams, Pilgrim and Benson Nays: None OTHER Mr. Benson asked if there was a report from the Grant Committee. BUSINESS Mr. Arnold said there was no report at this time. Mr. Benson asked if there was an update on the joint HRHA and IDA meeting. Staff reported HRHA has not communicated a meeting date. ADJOURNMENT There being no further business, the meeting was adjourned at 10:15 a.m. Respectfully submitted, James L. Eason Secretary-Treasurer /tbh 3