Economic Development Authority

INDUSTRIAL DEVELOPMENT AUTHORITY of the CITY OF HAMPTON, VIRGINIA Minutes – Regular Meeting November 20, 2012 – 8:30 A.M. Hampton University Proton Therapy Institute 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 Perry T. Pilgrim. Also present were Secretary-Treasurer Michael A. Yaskowsky and IDA Attorney S. Frear Hawkins, II. STAFF Pete Peterson, Bonnie Brown, Anthony Reyes, Ellen Templeton, PRESENT Susan Borland, Daniel Girouard and Teresa Hudgins MINUTES Chair Joseph stated the Minutes of the October 16, 2012 IDA board meeting were distributed. A motion was made by Mr. Arnold and seconded by Mr. Sledge to approve the minutes as submitted. The motion carried. LOAN Mr. Pilgrim reported the Loan Review Committee met on PROGRAM November 1, 2012. The Loan Status Report reflects three delinquent loans: Avis Fraser Williams: One payment has been made Unique Imaging Solutions: Working on a loan modification Touch of Class Fencing: Paid $8,000 towards the line of credit but the check for the August and September loan payments was returned for insufficient funds The Committee considered a Small/Minority Business Loan application in the amount of $275,000 from Crossfit Hampton, Inc. and agreed the maximum amount it would be willing to recommend for approval is $50,000 with acceptable collateral. Staff has advised the applicant of the decision. INCUBATOR Ms. Shuford reported the Incubator Committee met with the COMMITTEE incubator directors to review strategic plans and quarterly REPORT reports. Ms. Shuford said business retention strategies were also discussed. ECONOMIC Mr. Yaskowsky stated the updated Status Report on IDA Actions DEVELOPMENT was included in the package. REPORT   Staff toured the LeCam project on November 14th; interior improvements are complete; landscaping, signage and exterior lighting remain unfinished; the existing agreement expired on November 10; staff is recommending the agreement be extended for an additional six months. A motion was made by Wallace Arnold and seconded by Perry Pilgrim to extend the agreement for six months. A roll call vote was taken which resulted as follows: Ayes: Arnold, Bellinger, Sledge, Pilgrim, Shuford and Joseph Nays: None  Start! Peninsula will be held November 30 to December 2 at Christopher Newport University  We are sponsoring a table of eight at the Virginia Peninsula Chamber of Commerce 2012 annual meeting and distinguished citizen award which will honor Jack Ezzell. If anyone is interested in attending please let us know.  Staff participated in an aerospace and advanced composites media tour with the Virginia Economic Development Partnership (VEDP)  The Fort Monroe Authority facilitated a tour with staff, VEDP and HREDA on a potential project for 40,000 square feet with 300 new jobs  A call center leased 7,000 square feet in Langley Research & Development Park; 75 new jobs  City Council approved the amendment to the Enterprise Zone boundaries; staff is finalizing the application  The demolition of Harbor Square should be completed in four to six months; courthouse being designed with completion expected in two years IDA NAME Mr. Yaskowsky presented a Resolution of the Industrial CHANGE Development Authority of the City of Hampton, Virginia to change its name to the Economic Development Authority of the City of Hampton, Virginia and to request the City Council for the City of Hampton, Virginia to amend its Ordinance establishing the Authority to provide for the change of name. A motion was made by Mr. Pilgrim and seconded by Mr. Sledge to approve the Resolution as presented. A roll call vote was taken which resulted as follows: Ayes: Arnold, Bellinger, Pilgrim, Sledge, Shuford and Joseph Nays: None OLD Mr. Joseph asked if anyone had any additions/changes/deletions BUSINESS to the list of follow-up and action items from the IDA retreat. The items will be addressed as follows: 2  Item #1 regarding the various loan, grant and incentive programs will be addressed by the Loan Review Committee with a report back to the board. Item #2 is reviewing the Hampton Strategic Plan. A copy of the existing plan was provided for each board member to review so a discussion can take place on how to align IDA and city initiatives. Item #3 (infrastructure projects) will be addressed by various committees. Kimley Horn will be completing a traffic analysis, utilizing VDOT standards, on Commander Shepard Boulevard to recommend approved roadway breaks. Item #4 (science park feasibility study) and Item #6 (incubator next steps) will be addressed by the Incubator Committee. The Committee will look at the study to see what can be implemented with the resources available. Mr. Sledge suggested Tom Osha with the Wexford Group look at the study and offer his perspective. After a discussion, the board did not think it would be a good idea to share the results of the study with this group. Item #5 (marketing) will involve the entire board with items placed on the agenda for multiple meetings. OTHER Mr. Joseph attended a RAISE meeting and reported the fund has BUSINESS $1.5 million available to attract a new airline to the Newport News/ Williamsburg International Airport. Mr. Sledge asked if the Cordish development in downtown Norfolk will impact the development Hampton. Mr. Girouard said he spoke with Cordish and the non-compete clause does not interfere with the Hampton development. ADJOURNMENT There being no further business, the meeting was adjourned at 9:20 a.m. Mr. Keith Gregory with the Hampton University Proton Therapy Institute gave a brief presentation on the center and board members toured the facility. Respectfully submitted, Michael A. Yaskowsky Secretary-Treasurer MAY/tbh 3