Economic Development Authority

INDUSTRIAL DEVELOPMENT AUTHORITY of the CITY OF HAMPTON, VIRGINIA Minutes – Regular Meeting May 15, 2012 – 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 Pete Peterson, Vanessa Valldejuli, Susan Borland, Ellen PRESENT Templeton, Michael Yaskowsky, Daniel Girouard and Teresa Hudgins GUEST Thomas Flake – Peninsula Technology Incubator PRESENT MINUTES Chair Joseph stated the Minutes of the April 17, 2012 IDA board meeting were distributed. A motion was made by Mr. Arnold and seconded by Mr. Williams to approve the minutes as submitted. The motion carried. LOAN Mr. Pilgrim reported the Loan Review Committee met on April PROGRAM 23, 2012. The Loan Status Report reflects two loans over 30 days past due: Touch of Class Fencing is now current and Avis Fraser- Williams will make a payment before the end of the month. The Committee also considered a request from Green Apple Concepts to purchase a color copier. The Committee voted not to recommend the loan for approval based on insufficient cash flow to repay the debt. ECONOMIC Mr. Eason stated the updated Status Report on IDA Actions was DEVELOPMENT included in the package. REPORT  The agreements with C & D Store Development will be signed today and the loan will be closed tomorrow  Received a draft wetlands permit from DEQ for HRC North which was unacceptable; working with our representatives to resolve concerns  Received the Peninsula Technology Incubator proposal; the Incubator Committee will meet prior to the June meeting to review and make recommendations   The science park feasibility study is underway and should be completed by the end of June  On May 3rd there was a meeting on unmanned aerial vehicles with representatives from the Virginia Economic Development Partnership at Eagle Aviation which included lunch and a tour of the new NIA building  There will be a sensors networking lunch today in the Veterans Conference Room  We are meeting with a major employer in Langley Research & Development Park tomorrow  Mr. Eason is meeting with representatives from Little Zion Baptist Church on Monday regarding the request to use IDA property for parking Mr. Eason asked Mr. Flake to give a brief update on the Peninsula Technology Incubator. Mr. Flake provided board members with a copy of his bio and an incubator report detailing accomplishments. He also said there is interest in holding an event similar to Start Norfolk on the Peninsula. HAMPTON Mr. Girouard presented proposed changes to the Hampton MANUFACTURING Manufacturing Assistance Grant Program. After a brief ASSISTANCE discussion the board members agreed to table any decision until GRANT the next meeting. In the meantime, staff will identify if there is PROGRAM a need for the program, and if so, will simplify the program guidelines. OTHER Mr. Joseph announced Mr. Eason was retiring at the end of June. BUSINESS ADJOURNMENT There being no further business, the meeting was adjourned at 9:10 a.m. Respectfully submitted, James L. Eason Secretary-Treasurer 2