Economic Development Authority

ECONOMIC DEVELOPMENT AUTHORITY of the CITY OF HAMPTON, VIRGINIA Minutes – Special Meeting September 9, 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, Richard M. Bagley, Jr., Eleanor W. Brown, L. PRESENT Scott Seymour and Anne W. Shuford. Also present was Secretary- Treasurer Leonard L. Sledge. STAFF Mary Bunting, Vanessa T. Valldejuli, Pete Peterson, Patricia PRESENT Melochick, Terry O’Neill, Steven Lynch, Susan Borland, Daniel Girouard, Selene Guerrero and Teresa Hudgins CLOSED Chair Brown stated a Closed Meeting will now be held in MEETING accordance with Section 2.2-3711.A.7 for consultation with legal counsel regarding specific legal matters pertaining to certain performance, development and related agreements contemplated by the Authority. A motion was made by Mr. Bagley and seconded by Mr. Arnold to go into the Closed Meeting. A roll call vote was taken which resulted as follows: Ayes: Arnold, Bagley, Seymour and Brown Nays: None Note: Ms. Shuford arrived at 8:33 a.m. after the roll call vote 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. Arnold and seconded by Mr. Seymour to conclude the Closed Meeting and return to the Meeting. A roll call vote was taken which resulted as follows: Ayes: Arnold, Bagley, Seymour, Shuford and Brown Nays: None  A motion was made by Mr. Seymour and seconded by Mr. Bagley to approve the Resolution of the Economic Development Authority of the City of Hampton, Virginia (“EDA”) (i) approving the Development Agreement between the EDA, the City of Hampton (the “City”) and Hampton Lodging Partners, LLC (“Developer”) for the sale and redevelopment of the 1905 Coliseum Drive parcel LRSN: 7001266 and adjacent parcel located at 1910 Commerce Drive LRSN: 13003968 (“Pump Station Site”) for construction of a hotel under the Hyatt Place flag, (ii) approving an Economic Development Incentive Grant Performance Agreement (“Grant Agreement”) between the EDA and Developer, (iii) approving a Cooperation Agreement between the EDA and the City of the hotel project, subject to City Council approval, and (iv) authorizing the Chair or the Vice-Chair to execute the Development Agreement, the Grant Agreement, the Cooperation Agreement and any and all agreements, deeds and other instruments that are in substantial compliance with the Development Agreement, Grant Agreement and Cooperation Agreement with such modifications as agreed to by the staff with the concurrence of the City Attorney. A roll call vote was taken which resulted as follows: Ayes: Arnold, Bagley, Seymour, Shuford and Brown Nays: None ADJOURNMENT There being no further business, the meeting was adjourned at 9:15 a.m. Respectfully submitted, Leonard L. Sledge Secretary-Treasurer LLS/tbh 2