Economic Development Authority

INDUSTRIAL DEVELOPMENT AUTHORITY of the CITY OF HAMPTON, VIRGINIA Minutes – Regular Meeting August 16, 2011 – 8:30 A.M. IDA Conference Room CALL Chair Joseph called the meeting to order at 8:30 a.m. TO ORDER DIRECTORS James R. Joseph, Anne W. Shuford, Wallace C. Arnold, Dr. Lewis PRESENT J. Bellinger, Perry T. Pilgrim, Leonard L. Sledge 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, Terry O’Neill, PRESENT Ellen Templeton, Susan Borland, Michael Yaskowsky, Jessica Spencer, Pam Croom and Teresa Hudgins GUESTS Representing Technology Hampton Roads PRESENT Randy Gilliland, Tim Early, Lang Nguyen, Todd Lynn and Kathy Langlitz Steve Goad with On the Road with Hampton Roads Jacky Walton with Marton Technologies Vice Mayor George Wallace Geoff Owens with the James River Journal MINUTES Chair Joseph stated the Minutes of the July 19, 2011 IDA board meeting were distributed. A motion was made by Dr. Bellinger and seconded by Mr. Sledge to approve the minutes as submitted. The motion carried. LOAN Mr. Pilgrim reported the Loan Status Report reflects one loan on PROGRAM the over 30 days past due: EDL owes one payment. Avis Fraser- Williams is on the over 90 days past due. Since the report was prepared Ms. Williams has made a payment and is now on the loans over 60 days past due. The Committee considered a Neighborhood Retail Revitalization Program Application from Old Hampton Ice Cream Parlor, LLC located at 5 E. Queens Way. The recommended assistance amount is $7,869.00.  Mr. Hawkins disclosed he owns the property located at 5 E. Queens Way. A motion was made by Mr. Pilgrim and seconded by Mr. Arnold to approve the request as presented. A roll call vote was taken which resulted as follows: Ayes: Arnold, Bellinger, Pilgrim, Sledge, Williams, Shuford and Joseph Nays: None ECONOMIC Mr. Eason stated the updated Status Report on IDA Actions was DEVELOPMENT included in the package. REPORT Other items of interest: ¾ The consulting team for the scientific park feasibility study met on August 5. ¾ There was a meeting on August 3 at the Hampton Roads Convention Center to discuss maximizing technology assets. ¾ The Economic Development Department reported to City Council last Wednesday on job development and creation. ¾ We are working with several new prospects with the state. CLOSED Chair Joseph 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. Pilgrim and seconded by Mr. Arnold to go into the Closed Meeting. A roll call vote was taken which resulted as follows: Ayes: Arnold, Bellinger, Pilgrim, Sledge, Williams, Shuford and Joseph Nays: None CERTIFICATION Chair Joseph 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 2  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 Joseph 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, Sledge, Williams, Shuford and Joseph Nays: None Note: Mr. Pilgrim left the meeting at 9:40 and was not present for the vote A motion was made by Mr. Williams and seconded by Ms. Shuford to accept and approve the modification to the Ground Lease Agreement with Cordish. A roll call vote was taken which resulted as follows: Ayes: Arnold, Bellinger, Sledge, Williams, Shuford and Joseph Nays: None Mr. Hawkins will prepare a Resolution to ratify the modification and contract date. OTHER Mr. Hawkins reported he received a notice of a potential sale of the BUSINESS Johnny Carino’s property to a new purchaser. The IDA will not exercise its first right of refusal option and will not respond as to the request to certify no outstanding restrictions against restaurant uses at the Power Plant. ADJOURNMENT There being no further business, the meeting was adjourned at 10:15 a.m. Respectfully submitted, James L. Eason Secretary-Treasurer 3