Economic Development Authority

INDUSTRIAL DEVELOPMENT AUTHORITY of the CITY OF HAMPTON, VIRGINIA Minutes – Joint Meeting with Hampton FADA September 20, 2011 – 8:30 A.M. Community Development Conference Room CALL Chair Joseph and Chair Seymour called the meeting to order at TO ORDER 8:30 a.m. 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 Thomas Burcher representing S. Frear Hawkins. HAMPTON L. Scott Seymour, Wallace C. Arnold, W. Scott Arnott, William E. FADA MEMBERS Lewis, Susan Rotkis, Mark Stephens and Kevin VanSloten PRESENT STAFF Pete Peterson, Vanessa Valldejuli, Ellen Templeton, Bruce Sturk, PRESENT Daniel Girouard, Annette Oakley and Teresa Hudgins GUESTS Councilman Donnie Tuck PRESENT MINUTES Chair Joseph stated the Minutes of the August 16, 2011 IDA board meeting were distributed. A motion was made by Mr. Williams and seconded by Mr. Pilgrim to approve the minutes as submitted. The motion carried. Chair Seymour stated the Minutes of the May 9, 2011 Hampton FADA meeting were distributed. A motion was made by Mr. Stephens and seconded by Mr. Arnold to approve the minutes as submitted. The motion carried. IDA Mr. Eason provided an introduction to the IDA including goals, PRESENTATION objectives and strategies for the Economic Development Department and land in Hampton Business Parks with corresponding maps. HAMPTON Mr. Seymour provided a brief introduction to Hampton FADA FADA and Mr. Sturk gave a presentation on the duties and PRESENTATION responsibilities.  The group discussed how they could work together in areas such as Hampton Roads Center North, the National Institute of Aerospace and the air force. The IDA would like to see an outline from Hampton FADA on what a potential project in Hampton Roads Center North would require as to security concerns, etc... Mr. Joseph recommended the NIA feasibility study integrate comments/concerns expressed by members of Hampton FADA. Mike Yaskowsky and Bruce Sturk attend monthly meetings of the respective boards to maintain dialogue. Chair Seymour adjourned the Hampton FADA meeting LOAN Mr. Pilgrim reported the Loan Status Report reflects two loans on PROGRAM the over 30 days past due: Bobby’s Auto Shop and EDL owe one payment. Avis Fraser-Williams is on the over 60 days past due. The Committee considered a Neighborhood Retail Revitalization Program Application from DP Rochelle located at 5 W. Queens Way. The recommended assistance amount is $721.19. A motion was made by Mr. Williams 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 Mr. Joseph suggested the Committee look at loans in the portfolio to determine if terms and/or interest rates should be modified in a manner beneficial to both the lender and the borrower to reflect current interest rates, particularly the loan with Avis Fraser- Williams since the loan is consistently on the 60-90 day delinquent report. ECONOMIC Mr. Eason stated the updated Status Report on IDA Actions was DEVELOPMENT included in the package. He reported the C & D Store/Spectrum REPORT law suit is scheduled for October 11. Other items of interest: ¾ The scientific park feasibility study is underway ¾ Construction on second NIA building is ahead of schedule; the University of Virginia may locate a continuing education center in the building ¾ We are working with 23 active prospects. ¾ The E-Commerce Grant program continues to be successful; we will be asking the city manager for additional funding ¾ The Parade of Homes in Buckroe opened ¾ Ft. Monroe held a base closing ceremony 2  ¾ The Quality Inn is undergoing extensive renovations; the existing Holiday Inn will be totally demolished and another hotel will be built on the site ¾ We are working with a developer on a major hotel project at the former Best site ¾ Terry O’Neill will give a presentation on the Community Plan Update to the IDA board at its October meeting ¾ Staff is determining the city’s involvement in the Sandler/H20/Bank of America note discussions Dr. Bellinger expressed his concern about the empty Target building becoming an eye sore. Mr. Eason said the building is owned by Target and it is being actively marketed, however, Target has restrictions on the site which include it cannot be sold to any of its competitors. Mr. Williams asked if the Mercury Boulevard/I-64 intersection could be cleaned up. Mr. Peterson said the land is owned by the state but the city recently entered into an agreement with the state to maintain this property. CLOSED There was no business for Closed Session. Mr. Williams MEETING reported there was no update on the incubator agreement. OTHER The Bylaws of the Peninsula Industrial Finance Corporation BUSINESS (PIFC) require two members from the Hampton IDA board serve on the board. Mr. Joseph is a member of this board. Mr. Williams agreed to be the other member. ADJOURNMENT There being no further business, the meeting was adjourned at 10:40 a.m. Respectfully submitted, James L. Eason Secretary-Treasurer 3