Economic Development Authority

INDUSTRIAL DEVELOPMENT AUTHORITY of the CITY OF HAMPTON, VIRGINIA Minutes – Regular Meeting April 17, 2012 – 8:30 A.M. IDA Conference Room CALL Vice Chair Shuford called the meeting to order at 8:30 a.m. TO ORDER SWEARING IN Linda Smith, Clerk of Circuit Court for the City of Hampton, CEREMONY attended the meeting to swear in Anne W. Shuford and Perry T. Pilgrim DIRECTORS Anne W. Shuford, Dr. Lewis J. Bellinger, Perry T. Pilgrim, PRESENT Leonard L. Sledge 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, Anthony Reyes, Susan Borland, PRESENT Ellen Templeton, Michael Yaskowsky, Daniel Girouard and Teresa Hudgins GUESTS Amory LeCuyer – LeCam, LLC PRESENT Thomas Flake – Peninsula Technology Incubator MINUTES Vice Chair Shuford stated the Minutes of the March 20, 2012 IDA board meeting were distributed. A motion was made by Mr. Sledge and seconded by Dr. Bellinger to approve the minutes as submitted. The motion carried. LOAN Mr. Pilgrim reported the Loan Review Committee met on March PROGRAM 26, 2012. The Loan Status Report reflects one loan over 30 days past due, Hampton Roads Charter, which is now current. The Committee also considered a request from Unique Imaging Solutions to extend the loan term and reduce the interest rate. The Committee agreed to extend the loan term for five years and reduce the interest rate to three percent. A copy of the Old Point Statement of Account dated March 1, 2012 through March 31, 2012 was included in the package. There were no questions or comments. DOWNTOWN Ms. Borland stated Mr. LeCuyer is requesting an extension to the HAMPTON & Grant Agreement and provided a brief update on the project PHOEBUS progress. Mr. LeCuyer reported there had been several RETAIL renovation issues due to the age of the building and asked for a six INCENTIVE month extension. PROGRAM Mr. Williams said he spoke to Mr. Arnold and the Committee recommends the extension subject to Mr. LeCuyer providing monthly updates on the project and, if another extension is necessary, that it be done prior to the termination of the extension period. Dr. Bellinger asked about placement of building signage. Mr. LeCuyer said the sign package would have to be approved by the city but tenant signs would face Settlers Landing Road and Old Hampton Lane. A motion was made by Mr. Williams and seconded by Mr. Pilgrim to approve the extension with the above-mentioned conditions. A roll call vote was taken which resulted as follows: Ayes: Bellinger, Pilgrim, Sledge, Williams and Shuford Nays: None ECONOMIC Mr. Eason acknowledged the unfortunate death of Mr. Jopseh’s DEVELOPMENT mother and our thoughts were with him and his family during this REPORT difficult time. The updated Status Report on IDA Actions was included in the package:  Liberty Property Trust paid the note payment and deposit on the option for Pad Site B  C & D Store Development will be discussed in Closed Session  Awaiting final DEQ notice on the HRC North wetlands permit  Anticipate receiving the Peninsula Technology Incubator agreement before May 1 for the term July 1, 2012 to June 30, 2013; a director has been hired and the Incubator Committee met with him. Mr. Eason asked Ms. Shuford and Dr. Bellinger if they had any comments. Ms. Shuford added they toured the new facility and discussed the vision for the incubator. Dr. Bellinger also added they discussed strategic thoughts and where the identified entrepreneurs would come from. 2  Ms. Shuford introduced Thomas Flake, the new incubator director, and he provided a brief overview of his background. Mr. Flake mentioned the “Start Norfolk” event being held on April 25th and thought this would be a good event to duplicate here. He also said the incubator’s web site is up – ptincubator.org.  The dedication for the NIA building was held last Thursday  We have seen the first significant spinoff from the Proton Therapy Institute; Proton Systems from Jacksonville, Florida purchased a building in Langley Research & Development Park; $1.2 million initial investment in equipment; six employees with high wage salaries  There will be a meeting on unmanned aerial vehicles with representatives from the Virginia Economic Development Partnership at Eagle Aviation on May 3 to include a tour of the new NIA building  Staff participated in a meeting at Howmet with elected officials to improve understanding on how Howmet meets community needs related to jobs and the tax base CLOSED Vice Chair Shuford stated a Closed Meeting will now be held in MEETING accordance with Section 2.2-3711 A.3 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. Pilgrim and seconded by Mr. Williams to go into the Closed Meeting. A roll call vote was taken which resulted as follows: Ayes: Bellinger, Pilgrim, Sledge, Williams and Shuford Nays: None CERTIFICATION Vice Chair Shuford 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. Vice Chair Shuford asked for any statements. There were none. A motion was made by Mr. Sledge and seconded by Mr. Williams to conclude the Closed Meeting and return to the Meeting. A roll call vote was taken which resulted as follows: 3  Ayes: Bellinger, Sledge, Williams and Shuford Nays: None Note: Mr. Pilgrim left the meeting early and was not present for the vote A motion was made by Mr. Williams and seconded by Mr. Sledge to approve the points outlined in the memorandum from James L. Eason dated April 10, 2012 regarding C & D Store Development, LLC, authorize staff and the IDA attorney to draft the necessary legal documents and authorize the Chair to sign said documents. A roll call vote was taken which resulted as follows: Ayes: Bellinger, Sledge, Williams and Shuford Nays: None Mr. Eason will communicate the decision to Little Zion Baptist Church regarding use of property owned by the IDA for vehicle parking. Staff will advise the Hampton University Small Business Incubator that an acceptable strategic plan is due by June 30, 2012. ADJOURNMENT There being no further business, the meeting was adjourned at 10:20 a.m. Respectfully submitted, James L. Eason Secretary-Treasurer 4