Economic Development Authority

ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF HAMPTON, VIRGINIA AGENDA – REGULAR MEETING Tuesday, February 21, 2017 8:30 A.M. Ruppert Leon Sargent Memorial Administration Building EDA Conference Room – Sixth Floor Call to Order Roll Call of Directors Introduction of Guests Approval of Minutes: January 17, 2017 ______________________________________________________________________ 1. Loan & Grant Review Committee (Michelle Ferebee – 5 Minutes) • Chair Report • EDA Active Loan Status Report – January 20, 2017 • EDA Loan/Grant Program Fund Balance Sheet as of January 31, 2017 • Resolution of the Economic Development Authority of the City of Hampton, Virginia (“EDA”) authorizing the Chair or Vice-Chair to execute a Debt Forgiveness Agreement, authorizing the Chair or the Vice-Chair to release vehicle titles held as collateral and authorizing staff to file UCC releases for equipment held as collateral for debt owed by Touch of Class Fencing, Inc. to the EDA pursuant to a loan agreement 2. Economic Development Department Report (Leonard Sledge – 5 Minutes) • Status Report on EDA Actions 3. Resolution of the Economic Development Authority of the City of Hampton, Virginia (“EDA”) (1) approving the conditions and restrictions for granting a revocable license agreement to Advanced Aircraft Company for the use of a parcel of land owned by the EDA in Hampton Roads Center North for flight testing of unmanned aerial systems (“UAS”); and (2) authorizing the Chair or Vice-Chair to prepare and execute the revocable license agreement in substantial conformance of the conditions and restrictions recommended by staff (Michael Yaskowsky – 5 Minutes) 4. Resolution of the Economic Development Authority of the City of Hampton, Virginia (a) approving the award of a contract between the Economic Development Authority and Fun Tours, Incorporated, (b) approving a Cooperation Agreement between the City of Hampton and the Economic Development Authority and a Memorandum of Understanding by and among the City, the Economic Development Authority and Hampton University, and (c) authorizing the Chair or the Vice-Chair to negotiate the terms and conditions of the contract with Fun Tours, Incorporated for the purpose of providing limited bus shuttle with a card reader system for Hampton University students from Hampton University to Downtown Hampton and the Coliseum Central Area (Amy Jordan – 5 Minutes) 5. Resolution of the Economic Development Authority of the City of Hampton, Virginia (“EDA”) to extend the Governor’s Development Opportunity Fund Grant and City of Hampton, Virginia Local Job Creation and Capital Investment Grant for performance agreement for Liberty Source PBC Corp. (Leonard Sledge – 5 Minutes) 6. Hold a Closed Meeting pursuant to (1) Virginia Code Section 2.2-3711.A.3 for consideration of the disposition of publicly held real property in Hampton Roads Center North, where discussion in an open meeting would adversely affect the bargaining position or negotiating strategy of the Authority and (2) 2.2-3711.A.7 to consult with legal counsel pertaining to actual or probable litigation, where such consultation in an open meeting would adversely affect the negotiating or litigating posture of the Authority (Leonard Sledge, Vanessa Valldejuli and Patricia Melochick for matter (1) and Vanessa Valldejuli and Patricia Melochick for matter (2) – 15 Minutes) 7. Old Business • EDA Retreat follow-up 8. Other Business 9. New Business 10. Adjournment 2