Economic Development Authority

City of Petersburg Economic Development Authority Meeting Special Meeting AGENDA November 19, 2020 5:00 p.m. Petersburg Area Transit 100 W. Washington Street Petersburg, VA 23805 Virtual Meeting Topic: EDA Monthly Meeting Time: Nov 19, 2020 05:00 PM Eastern Time (US and Canada) Join Zoom Meeting https://zoom.us/j/93329767764?pwd=YzZuY1NMdW9LcU0vd1lkbEFtWHVsUT09 Meeting ID: 933 2976 7764 Passcode: 559880 One tap mobile +13017158592,,93329767764#,,,,,,0#,,559880# US (Washington D.C) +13126266799,,93329767764#,,,,,,0#,,559880# US (Chicago) Dial by your location +1 301 715 8592 US (Washington D.C) +1 312 626 6799 US (Chicago) +1 646 558 8656 US (New York) +1 253 215 8782 US (Tacoma) +1 346 248 7799 US (Houston) +1 669 900 9128 US (San Jose) Meeting ID: 933 2976 7764 Passcode: 559880 Find your local number: https://zoom.us/u/adnHDPQV6D 1. Call to order – Vice Chairman Samuel Rue 2. Roll call of members 3. Introductions- New Members Ms. Ahkinyala Abdullah Mr. Raymond Crockett 4. Approval of the Minutes: July 2, 2020 5. Financial Report- Mr. Richard Taylor Secretary /Treasurer 6. Report from the Vice Chairman 7. New Business a. FOIA Training -Francis Poulin, Director of Neighborhood Services, City of Petersburg b. Election of Officers 8. Old Business a. Resolution to Set Regular Meetings b. Update on Hotel Petersburg c. Economic Development Report 9. Announcements a. Next meeting date-December 17, 2020 at 5pm 10. Adjournment A RESOLUTION TO SET REGUALR MEETINGS OF THE ECONOMIC DEVELOPMENT AUTHORITY WHEREAS, the Petersburg Economic Development Authority (hereinafter “EDA”) is a political subdivision of the Commonwealth of Virginia formed by act of City Council (Ordinance No.: 6913 adopted 11/20/1973) in accordance with Code of Virginia §§15.2-4903 et. seq.; and WHEREAS, Section 3.2 of the EDA Bylaws provides that the regular meetings o the EDA shall be held “at such time and place as shall from time to time [be] determined by resolution of the Board of Directors;” and WHEREAS, similar language is included in §15.2-1416 of the Code of Virginia for establishing a schedule of Regular Meetings; and WHEREAS, it is the desire of the EDA to adopt a schedule for its Regular Meetings to occur at 5:00 p.m. on the third Thursday of each month for the remainder of year 2020 and through year 2021 with a new schedule adopted annually at its first meeting beginning in year 2022; and WHEREAS, the location of said meetings shall be the Petesrburg Area Transit, 100 West Washington Street, Petersburg, Virginia 23803. NOW therefore be it RESOLVED that the Petersburg Economic Development Authority does hereby adopt the following Schedule of Regular Meetings to be held at the Petesrburg Area Transit unless otherwise amended or cancelled by majority vote of its Members: December 17, 2020 at 5:00 p.m. January 21, 2021 at 5:00 p.m. February 18, 2021 at 5:00 p.m. March 18, 2021 at 5:00 p.m. April 15, 2021 at 5:00 p.m. May 20, 2021 at 5:00 p.m. June 17, 2021 at 5:00 p.m. July 15, 2021 at 5:00 p.m. August 19, 2021 at 5:00 p.m. September 16, 2021 at 5:00 p.m. October 21, 2021 at 5:00 p.m. November 18, 2021 at 5:00 p.m. December 16, 2021 at 5:00 p.m. January 20, 2022 at 5:00 p.m. *(New Schedule to be annually adopted) BE it further RESOLVED that the EDA shall adopt a new schedule annually beginning at its first meeting of year 2022 and does hereby reserve the right to amend or modify this schedule and call for such additional Special Meetings as may be deemed necessary in accordance with the laws of the Commonwealth of Virginia and the Bylaws adopted and approved by the EDA.  City of Petersburg Economic Development Authority Meeting Special Meeting Minutes July 2, 2020 5:00 p.m. Petersburg Area Transit 100 W. Washington Street Petersburg, VA 23805 Virtual Meeting I. Call to Order: The meeting was called to order by the Chair, Mr. Orlando James and a roll call of members were completed. II. Roll Call of Members: Members present: Mr. Orlando James, Mr. Samuel Rhue, Mr. Michael Packer, Mr. Richard Taylor, Mr. Layfette Jefferson, Mr. Winston Sanders (joined by phone at 5:45pm) City Staff present: Anthony Williams, City Attorney, Carthan Currin, Director of Economic Development, Kelly Evko, Assistant City Manager, Maureen Smith-Scott, Paralegal to City Attorney III. Financial Report: Mr. Richard Taylor reported the EDA account balance was $105,924 as of May 29, 2020. Motion to approve the financial report was passed. Mr. Packer moved approval of the financial report. Mr. Rhue second the motion. The report was passed unanimously by the board. IV. Report from Chairman Mr. James reported the city is working on many positive things. He also informed the board that Mr. Robert Walker submitted his resignation. The board expressed gratitude for Mr. Walker years of service. Mr. Jones recommended that the EDA meet more frequently. He recommended the 3rd Thursday of each month. Mr. Anthony Williams suggested a resolution. Mr. Williams also reminded everyone that the Economic Interest Forms were due by August 4. Also, about the FOIA training available online. V. Economic Development Report Mr. Carthan Currin and Ms. Kelly Evko introduced themselves. Mr. Currin stated the goal of Economic Development is to support and advance existing and new businesses and attract new businesses. The focus is capital investment and jobs. City Council has developed a resolution to support the new Hotel Petersburg Project. Mr. Currin reported that a conversation has taken place with the owner of the former Ramada Inn. The owner is evaluating different use of the. Mr. Packer asked about a potential rezoning of the lot. Mr. Currin discussed the recent AMPAC/ PHLOW announcement. Discussion are continuing to advance the project. It will be a cluster of pharmaceutical companies. VI. New Business Dr. Cuthburt introduced presentation on Hotel Peterburg. Paul Cooper, Retro Management Company Joanne Williams, Williams Media Jeff Sadler, Complete Community Economies, LLC Dr. Cuthbert presented a video on Hotel Petersburg. The video highlighted the history of the hotel and how it was established in 1915. The new hotel will have 68 rooms and include a dining experience with rooftop dining as an option. Ms. Williams presented on the how the hotel will enhance marketing for Petersburg area tourism. She elaborated on the number of visitors to the city to VA Motorsports, VSU, Fort Lee and tourist attractions and the need for a hotel in the city. She stated that the hotel will be a boutique/upscale hotel offering a local experience. Ms. Williams further discussed how according to Smith Travel, that prior to COVID, the area was outpacing the state and surrounding counties in occupancy. This shoes that this area is ripe for tourism. She stated that Petersburg and surrounding region have over 1.5 million tourists yearly. Staff marketing and OTM is $1,186,590 which $38,500 is Petersburg. She stated that the Projected Budget for the project is $13,500,000. Questions arose about the details in the use of the basement and other areas of the hotel. Mr. Cooper was able to explain that the architect is working to design that area. Mr. Cooper also discussed the financial details of the hotel and the need for additional funding. The group plans to work with VA Tourism Gap Program but to do that they must fill a financial void estimated at 3.7 million. Mr. Packer suggested that the EDA may can assist with financing. Mr. Packer suggested that city staff assigned to assist Authority research and, where appropriate, make applications for grants from government and other organizations to the EDA to fund the GAP financing loan for the Hotel Petersburg project and to facilitate other economic development projects in Petersburg. Potential grantors include, but should not be limited to, the following: Virginia Department of Housing and Community Development Industrial Revitalization Fund (IRF) loan/grant; U.S. Economic Development Administrations; FY 2020 EDA Public Works and Economic Adjustment Assistance; Cameron Foundation; Mary Morton Parsons Foundation; John Randolph Foundation and Community Foundation, Richmond. VII. Announcements: It was announced that the next meeting would be August 20. Mr. Packer thanked the city attorney VIII. Meeting Adjourned