Economic Development Authority

INDUSTRIAL DEVELOPMENT AUTHORITY of the CITY OF HAMPTON, VIRGINIA Minutes – Regular Meeting September 18, 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, Leonard Sledge, and Ben A. Williams, III. Also present were Secretary-Treasurer Michael A. Yaskowsky and IDA Attorney S. Frear Hawkins, II. STAFF Mary Bunting, Pete Peterson, Vanessa Valldejuli, Bonnie Brown, PRESENT Terry O’Neill, Anthony Reyes, Donald Whipple, Mike Hodges, Lynn Allsbrook, Susan Borland, Daniel Girouard and Brenda Bailey GUESTS George Wallace – Hampton City Council PRESENT Stephen Mallon – Craig Davis Properties Dr. Douglas Stanley – National Institute of Aerospace Gary Evans – Axcel Innovations Bob Rea – Axcel Innovations Robert Brauchle – Daily Press MINUTES Chair Joseph stated the Minutes of the August 21, 2012 IDA board meeting were distributed. A motion was made by Mr. Arnold and seconded by Ms. Shuford to approve the minutes as submitted. The motion carried. LOAN Mr. Arnold reported the Loan Review Committee did not meet in PROGRAM August. The Loan Status Report reflects two delinquent loans: Unique Imaging Solutions owes July and the Touch of Class Fencing line of credit note is in default. A payment has been made to Mall Properties in accordance with the grant agreement. ECONOMIC Mr. Yaskowsky stated the updated Status Report on IDA Actions DEVELOPMENT was included in the package. REPORT  Staff is working on average 30 leads/prospects; Intelligence Software Solutions renewed its lease, Intergraph signed a 13,000 square foot lease in Olympia Place and the IRS renewed its 17,000 square foot lease  Staff continues to work numerous minority business and master plan initiatives   Amendments to the Enterprise Zone boundaries will be presented at the next meeting  There is a VIP reception at the Virginia Air & Space Center on Thursday from 5:00 – 7:00 to celebrate the 95th anniversary of NASA Langley Research Center  The NIA will celebrate its 10th anniversary next week with a VIP reception on Monday at 5:00  I attended a meeting with VEDP regarding its focus to become more engaged with allies and local communities with an emphases on business recruitment  The Hampton Roads Center Owners Association is working on repairing/replacing monument signs and looking at alternate designs and locations to mitigate vehicular impacts Donald Whipple with the Community Development Department gave a briefing on commercial land uses allowed in Hampton Roads Center (HRC). HRC South and Central have identical commercial land uses with limited retail. HRC North has the same land uses with expanded retail aspects. Mike Hodges and Lynn Allsbrook with Public Works provided an update on the expansion of Commander Shepard Boulevard. Phase II is expected to be complete in October 2013 with a cost of $9.5 million. Mr. Joseph asked staff to come up with a strategy to engage the City of Newport News in discussions to continue the expansion project into its locality. SCIENCE Mr. Yaskowsky stated Phase 1 of the study was presented to the PARK board in February and the decision was made to proceed with FEASIBILITY Phase 2. He introduced Gary Evans and Bob Rea with Axcel STUDY Innovations who presented the report which included the business model, infrastructure requirements, type of organizational structure and building as well as financial requirements. At the conclusion of the discussion Mr. Joseph asked board members to provide additional questions for the consultant to Mike. He asked Mike to share the list of questions and answers with the entire board. Mr. Joseph said this was an item for greater discussion at the upcoming retreat. The goal will be to have a brainstorming discussion and leave the retreat with a concise recommendation to take to the city manager. 2 OTHER The proposed IDA retreat date is October 16th which is the regular BUSINESS meeting date. Mr. Joseph said the meeting would be abbreviated to include action items only. Staff prepared a proposed agenda which was included in the package. Dr. Bellinger and Mr. Sledge said they both have conflicts and would not be able to attend. Mr. Joseph asked staff to look at other possible dates. Mr. Joseph stated he and Mr. Williams were the IDA representatives on the Peninsula Industrial Finance Committee and asked Mr. Williams to give an update on action taken at the last meeting. Mr. Williams reported the Committee approved a loan to Second Street to open a restaurant in an existing restaurant building on an out parcel at Kiln Creek. Mr. Joseph said he serves as the IDA representative on the Regional Air Service Enhancement Fund Committee. He reported the Committee agreed to spend $50,000 on a fall marketing campaign to support Frontier flights. As a follow-up to a suggestion made by Mr. Sledge to hold IDA meetings at other locations, Mr. Yaskowsky proposed meeting at the Hampton University Proton Therapy Center in November and the Peninsula Technology Incubator in March. Mr. Sledge reported he attended the grand opening of a business in the Hampton University Small Business Incubator which created 10 new jobs. ADJOURNMENT There being no further business, the meeting was adjourned at 10:04 a.m. Respectfully submitted, Michael A. Yaskowsky Secretary-Treasurer MAY/tbh 3