Economic Development Authority

ECONOMIC DEVELOPMENT AUTHORITY of the CITY OF HAMPTON, VIRGINIA Minutes – Regular Meeting April 21, 2015 – 8:30 a.m. EDA Conference Room CALL Chair Arnold called the meeting to order at 8:30 a.m. TO ORDER DIRECTORS Wallace C. Arnold, Richard M. Bagley, Jr., Dr. Lewis J. Bellinger, PRESENT Michelle T. Ferebee, L. Scott Seymour and Anne W. Shuford. Also present was Secretary-Treasurer Leonard L. Sledge. STAFF Terry O’Neill, Bonnie Brown, Robin McCormick, Daniel PRESENT Girouard, Michael Yaskowsky and Teresa Hudgins GUESTS Jimmy Cerracchio, Downtown Hampton Development Partnership PRESENT Tom Flake, Peninsula Technology Incubator MINUTES Chair Arnold stated the Minutes of the March 17, 2015 EDA board meeting were distributed. A motion was made by Dr. Bellinger and seconded by Ms. Ferebee to approve the minutes as presented. The motion carried. DHDP Mr. Sledge asked Mr. Cerracchio to attend the meeting to provide OVERVIEW a brief presentation on the Downtown Hampton Development Partnership (DHDP). Mr. Arnold asked for a motion from the board to amend the published agenda. A motion was made by Ms. Shuford and seconded by Ms. Ferebee to amend the agenda to include a presentation from DHDP. A roll call vote was taken which resulted as follows: Ayes: Bagley, Bellinger, Ferebee, Seymour, Shuford and Arnold Nays: None Mr. Cerracchio said DHDP launched a new website, is active on social media and is increasing advertising through various media. DHDP is partnering with the Peninsula Pilots, Virginia Air & Space Center and Hampton Convention & Visitor Bureau on various events and activities including Slide the City scheduled for June 20th (showed a short video on this event). Mr. Sledge added the Economic Development Department was looking into hosting a hospitality tent for business appreciation. LOAN Ms. Ferebee reported the Loan Review Committee did not meet in PROGRAM March. The Loan Status Report reflects all accounts are current.  There were no questions or comments on the EDA Statement of Account dated March 1, 2015 through March 31, 2015. There were no questions on the EDA Loan/Grant Program Fund Balance Sheet as of March 31, 2015 which was included in the package. Ms. Ferebee added she would like to work with staff and the Committee to look at a new strategy to utilize the funds to encourage business growth. Mr. Sledge said he is working with the 757 Angel investment group to leverage existing funds to provide financing for tech start-ups in Hampton. Mr. Bagley asked if the programs were too complicated or entailed for businesses to utilize and if there was a simple marketing piece that could be given to small businesses. Mr. Seymour asked if staff could survey the businesses to find out why they were not taking advantage of the programs. ECONOMIC Mr. Sledge stated the updated Status Report on EDA Actions DEVELOPMENT was included in the package. Other items of interest: REPORT  Newport News Shipbuilding leased 500,000 square feet in West Park; Cosentino expanded by 34,000 square feet in Copeland Industrial Park  The City’s FY16 budget hearings start Wednesday; Economic Development proposed budget is $1,183,870 with 12 permanent full time employees  19 companies applied for Enterprise Zone grants totaling $25.6 million in investment; staff has started the process to renew the Hampton Roads Center zone  We completed a building blitz at Hampton Roads Center South  Virginia Aerospace Business Appreciation (VASBA) will hold its 2nd annual gala on May 15th; there are two seats available at our table for EDA members (let Teresa know if you would like to attend)  The Harbor Square RFP has closed; HRHA and city staff reviewed the proposals and will make a recommendation to council  Mr. Sledge will not be at the May meeting due to attending the ICSC conference  Staff is working on guidelines for the new Tourism Zone OTHER Chair Arnold stated members who are on the PIFC, RAISE and BUSINESS FADA boards will report on updates as necessary. 2  Dr. Bellinger mentioned the City of Newport News being in the paper announcing a new grocery store and asked how Hampton is remaining competitive in the current economic development atmosphere. Mr. Sledge said he is working on the strategic plan and there is activity underway that cannot be announced at this time; however, the EDA and City Council have been briefed. ADJOURNMENT There being no further business, the meeting was adjourned at 9:30 a.m. Respectfully submitted, Leonard L. Sledge Secretary-Treasurer LLS/tbh 3