Economic Development Authority

ECONOMIC DEVELOPMENT AUTHORITY of the CITY OF HAMPTON, VIRGINIA Minutes – Regular Meeting February 19, 2013 – 8:30 A.M. EDA 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 Michael A. Yaskowsky and EDA Attorney S. Frear Hawkins, II. STAFF Pete Peterson, Bonnie Brown, Bruce Sturk, Terry O’Neill, PRESENT Anthony Reyes, Ellen Templeton, Daniel Girouard and Teresa Hudgins GUESTS Thomas Flake – Peninsula Technology Incubator PRESENT Mike Lehmkuhler – Virginia Economic Development Partnership Robert Brauchle – Daily Press MINUTES Chair Joseph stated the Minutes of the January 15, 2013 EDA board meeting were distributed. A motion was made by Dr. Bellinger and seconded by Mr. Sledge to approve the minutes as presented. The motion carried. LOAN Mr. Pilgrim reviewed the Loan Status Report as follows: PROGRAM Unique Imaging Solutions: Need to obtain signatures from two Guarantors on the Loan Modification Agreement; payments have been made in accordance with the agreement Touch of Class Fencing: Did not receive payments as specified in Mr. Hawkins’s letter; will proceed to secure collateral Avis Fraser-Williams made a partial payment Sunset Creek Properties signed a Loan Modification Agreement Unitech, LLC is current I Love Your Style: Provided notice to have consignment shop re-opened in the City of Hampton within 90 days A copy of the Old Point Statement of Account dated December 1, 2012 through December 31, 2012 was included in the package. There were no questions or comments. INCUBATOR Ms. Shuford reported the Committee met with the incubator COMMITTEE mangers. The PTI has nine clients and is at 40% capacity and the REPORT HUSBI has nine clients with one space available. The managers are complying with the report matrix. ECONOMIC Mr. Yaskowsky stated the updated Status Report on EDA Actions DEVELOPMENT was included in the package. Anticipate closing on the SEI REPORT contract soon. Other items of interest:  LeCam is working on a landscape plan  Staff will present its recommendations on incentives to the Loan Review Committee at its meeting tomorrow  The Incubator Committee met to discuss implementing items in the Science Park Feasibility Study; a sub-committee will be formed to collaborate on opportunities with the NIA and PTI  11 companies attended the Enterprise Zone Workshop on February 8th  Brochures from Aerospace Day 2013 were distributed  As a follow-up to the financial statements, Finance prepared a Projects Only schedule  Letters of support were sent to the General Assembly supporting encroachment funding for Langley Air Force Base  City Council re-appointed Dr. Bellinger to another 4 year term  The EDA meeting in March will be at the NIA with a tour of the Peninsula Technology Incubator The board discussed the effects of sequestration at NASA and Langley Air Force Base and the impact on the local community. PRESENTATION Mike Lehmukler gave a presentation on the business attraction VEDP mission and organizational structure. Mr. Sledge asked what the City of Hampton could do to be in a better position to attract businesses. Mr. Lehmukler said companies are looking for a trained workforce. OTHER Mr. Peterson reported the Economic Development Department BUSINESS Director’s position will close on February 28th. The interview panel will consist of staff, one person from the EDA and one person from the business community. ADJOURNMENT There being no further business, the meeting was adjourned at 10:15 a.m. Respectfully submitted, Michael A. Yaskowsky Secretary-Treasurer MAY/tbh 2