Economic Development Authority

Minutes City of Radford Industrial Development Authority Special Called Meeting 09-16-2015 City Manager’s Office, 10 Robertson Street Members Present: Dr. Flo Graham, Dr. Bruce Chase, Mr. Steve Harvey, Mr. Jeff Irby, Mr. Richie Davis, Mr. Albert Mah Staff & Visitors: Mr. Basil Edwards, Mr. Keith Weltens, Mr. David Ridpath, Ms. Melissa Skelton • Mr. Irby called the meeting to order at 12:05 pm. • A quorum was established. 1) Approval of the Minutes of September 10, 2015. Motion: Dr. Graham moved that the IDA approve the Minutes from September 10, 2015. Mr. Harvey seconded the motion. Action: The motion carried. 2) New Business a) Microbrewery Mr. Weltens presented his business plan related to a proposed microbrewery (Fraternal Brewing Co.) locating in Radford. Much discussion took place related to the IDA buying property and leasing to Fraternal Brewing or simply loaning the money at no interest for a period of 4 to 5 years. Due to the departure of several of the members, another meeting will be held next week in order to garner all members input prior to a decision being made. Adjourn Being no further business the meeting was adjourned at 1:30 pm. Basil Edwards Director, Economic Development