Economic Development Authority

ECONOMIC DEVELOPMENT AUTHORITY of the CITY OF HAMPTON, VIRGINIA Minutes – Annual Meeting January 20, 2015 – 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 and Michelle T. Ferebee. Also present was Secretary- Treasurer Leonard L. Sledge. STAFF Pete Peterson, Vanessa Valldejuli, Tony Reyes, Denise Howard, PRESENT Robin McCormick, Bonnie Brown, Daniel Girouard, Michael Yaskowsky and Teresa Hudgins GUESTS Councilman Donnie Tuck PRESENT Tom Flake, Peninsula Technology Incubator Robert Brauchle, Daily Press MINUTES Chair Joseph stated the Minutes of the December 16, 2014 EDA board meeting were distributed. A motion was made by Ms. Ferebee and seconded by Mr. Arnold to approve the minutes as submitted. The motion carried. NOMINATING Ms. Ferebee reported the Committee met and puts forth the COMMITTEE following slate of officers for the 2015 calendar year: REPORT Wallace C. Arnold, Chair Eleanor W. Brown, Vice Chair Leonard L. Sledge, Secretary-Treasurer Business Development Team Leader (to be determined), Assistant Secretary-Treasurer Mr. Joseph asked if there were any other nominations from the floor. There were none. A roll call vote was taken which resulted as follows: Ayes: Arnold, Bellinger, Ferebee, Shuford and Joseph Nays: None Mr. Arnold thanked the board for the nomination and expressed his appreciation to Mr. Joseph for his leadership. FINANCIAL Denise Howard with the Finance Department gave a presentation STATEMENTS on the EDA Fund Financial Statements for year ended June 30, 2014. COIA This item was deferred to the February meeting when there is a full UPDATE Board. LOAN Ms. Ferebee reported the Loan Review Committee met on PROGRAM December 22, 2014. The Healthy Connection has not signed the Loan Modification Agreement. There were no questions on the EDA Loan/Grant Program Fund Balance Sheet as of December 31, 2014 which was included in the package. The Committee considered a Hampton Manufacturing & Innovation Grant Program application from Teledyne Hastings and recommends the grant for approval in an amount not to exceed $7,000 based on program guidelines. A motion was made by Ms. Ferebee and seconded by Mr. Joseph to approve the grant as presented. A roll call vote was taken which resulted as follows: Ayes: Bellinger, Ferebee, Joseph, Shuford and Arnold Nays: None The Committee also considered a Downtown Hampton and Phoebus Retail Incentive Grant application from Club Forest Buckroe, LLC but does not recommend the grant for approval because staff is working with the applicant to apply through a different program. ECONOMIC Mr. Sledge stated the updated Status Report on EDA Actions DEVELOPMENT was included in the package. Other items of interest: REPORT  City Council appointed Rick Bagley to the EDA. He will be sworn in at the February meeting.  The Hampton Urban Zone has been extended.  Search process continues for the Business Development Team Leader; will be finalized by the end of next week  The HREDA Annual Meeting will be held on February 5th; we have purchased a table and reserved a seat for an EDA member; if anyone would like to attend please let me know  Darryl Gosnell will no longer serve as President and CEO of HREDA effective January 31st  Craig Read is proceeding with a project on his site in Langley Research & Development Park  The Unitech auction was held and contents sold to one buyer for $40,000; proceeds applied to the outstanding loan balance; we are identifying potential purchasers for the patents  The FY16 CIP and budget developments are underway  The Coliseum Central Master Plan update starts today  Faneuil ribbon cutting was last week; announced $700,000 in additional investment and 40 new employees 2 RESOLUTION Mr. Sledge presented a Resolution accepting the transfer of two NORTH lots from the City of Hampton in Phoebus: Parcel 12001979 also MALLORY known as 42 North Mallory Street and Parcel 13000219 also STREET known as 50 North Mallory Street to the Economic Development PARCELS Authority of the City of Hampton, Virginia. A motion was made by Mr. Joseph and seconded by Ms. Ferebee to approve the Resolution as presented. A roll call vote was taken which resulted as follows: Ayes: Bellinger, Ferebee, Joseph, Shuford and Arnold Nays: None OLD Chair Arnold asked Mr. Sledge about a follow-up meeting with BUSINESS Marty Kaszubowski. Mr. Sledge said he and Mr. Girouard were meeting with Mr. Kaszubowski to discuss the incubators and the loan/grant programs. ADJOURNMENT There being no further business, the meeting was adjourned at 9:00 a.m. Respectfully submitted, Leonard L. Sledge Secretary-Treasurer LLS/tbh 3