Economic Development Authority

ECONOMIC DEVELOPMENT AUTHORITY of the CITY OF HAMPTON, VIRGINIA Minutes – Regular Meeting March 15, 2016 – 8:30 a.m. EDA Conference Room CALL Chair Brown called the meeting to order at 8:30 a.m. TO ORDER DIRECTORS Wallace C. Arnold, Eleanor W. Brown, Richard M. Bagley, Jr., Dr. PRESENT Lewis J. Bellinger, Michelle T. Ferebee, L. Scott Seymour and Anne W. Shuford. Also present was Secretary-Treasurer Leonard L. Sledge. STAFF Mary Bunting, Vanessa Valldejuli, Patricia Melochick, Terry PRESENT O’Neill, Robin McCormick, Steven Lynch, Susan Borland, Daniel Girouard, Jocelyn Boyer and Teresa Hudgins MINUTES Chair Brown stated the Minutes of the February 16, 2016 EDA board meeting were distributed. A motion was made by Mr. Arnold and seconded by Dr. Bellinger to approve the Minutes as presented. A roll call vote was taken which resulted as follows: Ayes: Arnold, Bagley, Bellinger, Seymour, Shuford, Ferebee and Brown Nays: None LOAN & GRANT Ms. Ferebee reported the Loan and Grant Review Committee met REVIEW on February 22, 2016 and reviewed the Loan Status Report dated COMMITTEE February 19, 2016. There were no questions or comments. There were no questions or comments on the EDA Loan/Grant Program Fund Balance Sheet as of February 29, 2016. The Committee is recommending approval of a Façade Improvement Grant to WBH109, LLC in the amount of $1,991.75 for exterior improvements to the property located at the corner of Mellen & Mallory Streets. Ms. Brown asked if there were any controls in place for the proposed improvements. Ms. Borland said yes with selections provided to the Committee with the application. Mr. Seymour added the Authority Advisory Committee utilizes the services of Q Design if needed. A roll call vote was taken which resulted as follows: Ayes: Arnold, Bagley, Bellinger, Seymour, Shuford, Ferebee and Brown Nays: None  Mr. Sledge reported there was a high level conversation with the Committee about how to best utilize the funds to meet strategic objectives and to expedite the application/approval process. Mr. Sledge added there are on-going conversations with DHDP to engage property owners along Queens Way for a comprehensive façade improvement plan. Ms. Bunting said the loan program was expanded to include grants to provide more flexibility. Ms. Valldejuli said the current loans are over collateralized and the loans in collection are taking a lot of staff time. Mr. Bagley’s comment was to have banks underwrite the loans to free up staff time. Mr. Sledge said staff will benchmark other successful programs and report back to the Committee. ECONOMIC Mr. Sledge stated the updated Status Report on EDA Actions DEVELOPMENT was included in the package and introduced Jocelyn Boyer as REPORT the new member of the Economic Development team. Ms. Boyer is the Business Development Coordinator – Research & Marketing focusing on marketing, social media and research. EXTENSION OF Mr. Girouard stated PTI and HUBI have provided notice to request PTI & HUBI a monthly extension of the respective operating agreements for the AGREEMENTS month of April. Staff recommends the EDA approve the request for both incubators. A motion was made by Mr. Seymour and seconded by Ms. Ferebee to approve the requests as presented. A roll call vote was taken which resulted as follows: Ayes: Arnold, Bagley, Bellinger, Seymour, Shuford, Ferebee and Brown Nays: None RESOLUTION Ms. Valldejuli presented a Resolution approving a Cooperation COOPERATION Agreement between the City of Hampton and the Economic AGREEMENT Development Authority of the City of Hampton and authorizing KB RIVERDALE execution of same for the KB Riverdale, LLC project and added City Council has approved its part. A motion was made by Ms. Ferebee and seconded by Dr. Bellinger to approve the Resolution as presented. A roll call vote was taken which resulted as follows: Ayes: Arnold, Bagley, Bellinger, Seymour, Shuford, Ferebee and Brown Nays: None CLOSED Chair Brown stated a Closed Meeting will now be held in MEETING accordance with Section 2.2-3711.A.1 of the Code of Virginia for discussion, consideration, or interviews of prospective candidates for appointment, Section 2.2-3711.A.3 for discussion or consideration of the disposition of publicly held real property in areas of Coliseum Central and Shell Road where discussion in an 2  open meeting would adversely affect the bargaining position or negotiating strategy of the Authority, Section 2.2-3711.A.5 to discuss a prospective business or industry or the expansion of an existing business or industry where no previous announcement has been made of the business’ or industry’s interest in locating or expanding its facility in the community, Section 2.2-3711.A.6 for the discussion or consideration of the investment of public funds where competition or bargaining is involved, where, if made public initially, the financial interest of the Authority would be adversely affected and Section 2.2-3711.A.7 for the consultation with legal counsel regarding specific legal matters requiring the provision of legal advice by such counsel. A motion was made by Mr. Seymour and seconded by Ms. Shuford to go into the Closed Meeting. A roll call vote was taken which resulted as follows: Ayes: Arnold, Bagley, Bellinger, Seymour, Shuford, Ferebee and Brown Nays: None CERTIFICATION Chair Brown stated it was now appropriate to take a roll OF CLOSED call vote and that to the best of our knowledge (i) only public MEETING business matters lawfully exempted from open meeting requirements under this chapter, and (ii) only such public business matters as were identified in the motion by which the Closed Meeting was convened were heard, discussed, or considered in the Closed Meeting. Any member who believes there was a departure from the requirements of subdivisions (i) and (ii) shall so state prior to the roll call vote, indicating the substance of the departure that, in his/her judgment has taken place. Such statements shall be recorded in the Minutes. Chair Brown asked for any statements. There were none. A motion was made by Mr. Bagley and seconded by Mr. Arnold to conclude the Closed Meeting and return to the Meeting. A roll call vote was taken which resulted as follows: Ayes: Arnold, Bagley, Bellinger, Seymour, Shuford, Ferebee and Brown Nays: None Ms. Brown tabled the remainder of the Agenda due to the time. ADJOURNMENT There being no further business, the meeting was adjourned at 10:30 a.m. Respectfully submitted, Leonard L. Sledge Secretary-Treasurer LLS/tbh 3