Economic Development Authority

INDUSTRIAL DEVELOPMENT AUTHORITY of the CITY OF HAMPTON, VIRGINIA Minutes – Regular Meeting October 18, 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, 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 Donald Whipple, Susan Borland, Michael Yaskowsky, Daniel Girouard, Arnelia Hancock, Pam Croom and Teresa Hudgins GUEST Vincent E. Powell with the Commonwealth of Virginia PRESENT Department of Minority Business Enterprise MINUTES Chair Joseph stated the Minutes of the September 20, 2011 IDA board meeting were distributed. Mr. Joseph would like to insert on page 2, Loan Program, last paragraph line 2, … modified “in a manner beneficial to both the lender and the borrower”... A motion was made by Mr. Arnold and seconded by Mr. Sledge to approve the minutes as amended. The motion carried. LOAN Mr. Arnold reported the Loan Status Report reflects one loan on PROGRAM the over 30 days past due: Touch of Class provided an incorrect bank account number but the issue has been resolved. EDL, Bobby’s Auto Shop and Avis Fraser-Williams are on the over 60 days past due. EDL and Bobby’s Auto Shop have moved from the existing Hampton location to the City of Newport News. Mr. Hawkins has provided the required notice to call the loans. The Committee is working on a loan modification agreement with Ms. Williams. Mr. Arnold deferred the discussion on reviewing interest rate and terms of existing loans. The Old Point Statement of Account dated September 1, 2011 through September 30, 2011 was included in the package. There were no questions or comments. ECONOMIC Mr. Eason stated the updated Status Report on IDA Actions was DEVELOPMENT included in the package. The C & D Store Development Company REPORT and incubator agreement will be discussed in Closed Session. Other items of interest: ¾ Mr. Eason introduced Arnelia Hancock as the new Contract Compliance Specialist with the Economic Development Department ¾ Mr. Eason introduced Vincent Powell with the Commonwealth of Virginia Department of Minority Business Enterprise which is leasing one of our offices to advance the city’s minority business development efforts. Mr. Eason asked Mr. Powell to give an overview of his responsibilities. Mr. Powell said he is in this office on Tuesday and Wednesday and meets with small, women and minority owned businesses in addition to providing technical field support. HAMPTON Donald Whipple with the Community Development Department COMMUNITY gave a power point presentation on the update to the Hampton PLAN Community Plan. The next steps include City Council adopting UPDATE the Plan and the City Manager prioritizing the focus areas and goals to move forward with and identifying implementation strategies. A motion was made by Mr. Sledge and seconded by Ms. Shuford to approve the Resolution in support of the Hampton Community Plan Update. A roll call vote was taken which resulted as follows: Ayes: Arnold, Bellinger, Sledge, Williams, Shuford and Joseph Nays: None CLOSED Chair Joseph stated a Closed Meeting will now be held in MEETING accordance with Section 2.2-3711 A.7 of the Code of Virginia to consult with legal counsel regarding specific legal matters requiring the provision of legal advice by such counsel. A motion was made by Mr. Sledge and seconded by Dr. Bellinger to go into the Closed Meeting. A roll call vote was taken which resulted as follows: Ayes: Arnold, Bellinger, 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 2  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 Joseph asked for any statements. There were none. A motion was made by Mr. Williams and seconded by Mr. Arnold 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 A motion was made by Dr. Bellinger and seconded by Mr. Williams to issue a withdrawal letter effective immediately for the contract dated July 1, 2011 by and between the Industrial Development Authority of the City of Hampton, Virginia and Hampton Roads Technology Council d/b/a Technology Hampton Roads. A roll call vote was taken which resulted as follows: Ayes: Arnold, Bellinger, Sledge, Williams, Shuford and Joseph Nays: None Mr. Sledge asked if the board could be notified of any response from the HRTC on this matter. Mr. Joseph instructed staff to explore, with the advice of legal counsel, a Request for Proposal (RFP) for a new incubator manager for the next fiscal year. OTHER Mr. Sledge asked if the IDA package could be distributed BUSINESS electronically. Staff will do so to those individuals who would like to receive it in this manner. ADJOURNMENT There being no further business, the meeting was adjourned at 10:30 a.m. Respectfully submitted, James L. Eason Secretary-Treasurer 3