Economic Development Authority

INDUSTRIAL DEVELOPMENT AUTHORITY of the CITY OF HAMPTON, VIRGINIA Minutes – Regular Meeting October 19, 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 Pete Peterson, Vanessa Valldejuli, Bruce Sturk, Terry O’Neill, PRESENT Ellen Templeton, Daniel Girouard, Jessica Spencer, Angela Freeman, Michael Yaskowsky and Teresa Hudgins MINUTES Chair Benson stated the Minutes of the September 21, 2010 IDA board meeting were distributed. A motion was made by Mr. Arnold and seconded by Mr. Pilgrim to approve the minutes as submitted. The motion carried. LOAN Mr. Pilgrim reported the Loan Review Committee met on October PROGRAM 7, 2010. The Loan Status Report reflects several loans as 30 days delinquent. Mr. Pilgrim reported those loans are now current. EDL, LLC owes the September payment. A copy of the Old Point Statement of Account dated September 1, 2010 through September 30, 2010 was included in the package. There were no questions or comments. The Committee considered a Neighborhood Retail Revitalization Program application from St. John’s Episcopal Church for improvements to a multi-story free standing building located at 120 W. Queens Way in the amount of $2,518. A motion was made by Mr. Williams and seconded by Mr. Arnold to approve the request as submitted. A roll call vote was taken which resulted as follows: Ayes: Arnold, Bellinger, Joseph, Shuford, Williams, Pilgrim and Benson Nays: None  Mr. Pilgrim reported the Committee considered two loan applications and requested the applicants provide additional information. ECONOMIC Mr. Eason stated the updated Status Report on IDA Actions was DEVELOPMENT included in the package. REPORT Mr. Eason asked Mr. Girouard to provide a brief update on the Virginia Tech-National Institute of Aerospace project. Mr. Girouard reported the IDA Design Review Committee received a second set of plans for review. Mr. Hawkins reported the Deed and Amendment to the Protective Covenants have been forwarded to Virginia Tech. Other items of interest: • The grand opening of the Proton Therapy Institute is scheduled for Thursday, October 21 at 4:00 p.m. • Staff met with Steve Mallon with Craig Davis Properties to discuss development concepts in Hampton Roads Center North. Mr. Mallon will respond to issues we identified. • We met with Bob Lindberg and Calvin Lowe with the National Institute of Aerospace to discuss future development potential in HRC North. We asked Dr. Lindberg to submit a proposal to create an action plan for HRC North. It should focus on what he and others believe to be the real potential for the Park. • Ellen Templeton provided a report on the Modeling and Simulation Conference held in Hampton. • Michael Yaskowsky reported on the ODU State of the Region meeting and the Virginia Economic Developers Association meeting. • Daniel Girouard reported on a meeting he attended in Washington on High Impact Entrepreneurial Outlook. 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. A motion was made by Mr. Joseph and seconded by Dr. Bellinger 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 2 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 recorded in the Minutes. Chair Benson asked for any statements. There were none. A motion was made by Mr. Williams and seconded by Mr. Pilgrim 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 A motion was made by Mr. Arnold and seconded by Mr. Williams to approve the Resolution of the Industrial Development Authority of the City of Hampton, Virginia approving the terms of the Crossroads Parcel Ground Lease (Lease #1) with the Developer’s affiliate Hampton Crossroads Holdings, LLC and the Cooperation Agreement and authorizing the Chair or Vice Chair to execute and deliver said documents on behalf of the IDA, subject to formal approval by the City Council of a Cooperation Agreement between the IDA and the City, and the Developer’s affiliate having 60 days to respond to said documents. A Roll Call vote was taken which resulted as follows: Ayes: Arnold, Bellinger, Joseph, Shuford, Williams, Pilgrim and Benson Nays: None ADJOURNMENT There being no further business, the meeting was adjourned at 9:55 a.m. Respectfully submitted, James L. Eason Secretary-Treasurer /tbh 3