Economic Development Authority

Minutes City of Radford Economic Development Authority Regular Meeting December 1, 2022 Sal’s Restaurant Members Present: Mr. Abram Williams, Mr. Steve Harvey, Dr. Bruce Chase, Mr. Jeff Cumberland, Mr. Keith Weltens, Mr. Justin Mosby, Ms. Carolina Gaskins (Call in) Staff & Visitors: Ms. Kim Repass, Executive Director Mark Williams, Price Williams Realty Mr. Abram Williams called the meeting to order at 12:07 p.m. A quorum was established. 1) Old Business o Mr. Mark Williams, Price Williams Realty, discussed with the board his intentions for the New River Fitness building that is now owned by Price Williams. There is a potential lease option currently in place and Price Williams would like to purchase the parking lot which is currently owned by the EDA. The parking lot would have to be purchased in order to secure the potential lease. i.) Motion: Mr. Steve Harvey made a motion to move forward with an option agreement for the purchase of the parking lot located at 51 West Main Street. The price of the property would be $75,000 to Price Williams contingent upon acceptance of the Lease Option by the Virginia Employment Commission. Mr. Justin Mosby seconded the motion. ii.) Action: The motion carried. 2) Review of October 2022 Financials o Dr. Bruce Chase reviewed the financials and reported no irregularities. Financials will be filed as presented. 3) POP Program  Terry McCraw - $28,000 for façade improvements, signage and awning. i.) Motion: Mr. Jeff Cumberland moved that the EDA approve the POP Application from Terry McCraw and reimburse in the amount of $5,000 under the POP Grant guidelines. Mr. Steve Harvey seconded the motion. ii.) Action: The motion carried.  Meg’s - $28,627.00 for front façade and roof improvement behind façade.  i.) Motion: Mr. Jeff Cumberland moved that the EDA approve the POP Application from Meg’s and reimburse in the amount of $3,500 under the POP Grant guidelines. Mr. Justin Mosby seconded the motion. ii.) Action: The motion carried. 4) Election of Officers i.) Motion: Mr. Justin Mosby moved that the EDA Officers remain as follows: Abram Williams, Chair; Steve Harvey, Vice Chair; Bruce Chase, Treasurer. Mr. Jeff Cumberland seconded the motion. ii.) Action: The motion carried. 5) Old Business  The Director updated the Board on the status of the Foundry. Conversations with DEQ and Haley Aldrich are continuing and testing should begin in January 2023.  The planters for our businesses have been replanted with flowers for the winter months.  We are in the process of having a joint meeting with the EDA and Planning Commission in January 2023. Meeting Adjourn Being no further business the meeting was adjourned at 1:10 p.m. Director, Economic Development Interim Director, Tourism