HomeMy WebLinkAbout4/19/2023 - Minutes The Economic Development Authority of Roanoke County
Meeting Minutes
Wednesday, April 19, 2023, the Economic Development Authority met at the Roanoke
County Administration Center
Members Present -
Woody Windley, Chair
Michael Cagle, Vice Chair
Greg Apostolou •
Kirtesh Patel
Don Sowder
Barry Thompson
Kyle Richardson
Ssunny Shaw
Megan Baker, Secretary-Treasurer
Peter Lubek, Counsel
Absent
Steve Anderson
Guests
Richard Caywood, County Administrator
Jessica Beamer, Assistant Director of Finance and Management Services
Doug Blount, Assistant County Administrator
Phillip Thompson, Planning Director
Marshall Stanley, Economic Development Specialist, Town of Vinton
Nathan McClung, Assistant Planning & Zoning Director, Town of Vinton
Pete Peters, Town Manager, Town of Vinton
CALL TO ORDER
Chairman Woody Windley called the meeting to order at 9:00 am
REQUEST TO POSTPONE, ADD OR CHANGE THE ORDER OF THE AGENDA ITEMS
Megan Baker stated she added an agenda item under new business to provide an update on
the Department of Economic Development projects.
APPROVAL OF February 15, 2023 MINUTES
On motion by Barry Thompson to approve minutes of February 15, 2023, seconded by
Ssunny Shaw, the motion carried by unanimous vote.
FINANCE REPORT
1. Financial Reports
Jessica Beamer reviewed the statements of revenues, expenditures and changes in the
fund balances ending March 31, 2023. The current cash balance in the EDA account is
$558,093. Jessica noted that interest income is up year over year.
On motion by Greg Apastolou to accept and approve the financial report as presented,
seconded by Kyle Richardson, the motion carried unanimously.
2. FY 24 Budget
Jessica Beamer presented the FY 2024 EDA Budget. On motion by Kyle Richardson to
accept and approve the FY 2024 budget, seconded by Ssunny Shah, the motion carried
unanimously.
NEW BUSINESS
1. Performance Agreement for Pollard 107 South
Marshall Stanley presented the Pollard 107 South project and performance agreement. The
former Star City Playhouse building will be redeveloped into a restaurant. The developer will
invest $1.2 million and receive $205,000 in total assistance (fire suppression system and
plumbing). There will be 2000 SQ FT of interior dining space, 1,000 SQ FT of outdoor dining
space, and 20 new FTE. The expected completion is May/June 2023.
2. Performance Agreement for E. Cleveland Ave.
Marshall Stanley presented the E. Cleveland Ave. project and performance agreement. The
former Cleveland Mart space will be redeveloped into 7 new multi-family residential units
and 1350 SQ FT of commercial space. The developer will invest $1.1 million and receive
$250,000 in total assistance. The expected completion date is July 1, 2024. The project has
also received federal grant funding.
On motion by Mike Cagle to approve the performance agreements for Pollard 107 South
and E. Cleveland Avenue and to authorize the chairman to sign the agreements on behalf of
the Authority, seconded by Barry Thompson, the motion carried unanimously.
3. Vinton Housing Study
Nathan McClung presented Vinton's housing study. The Town's housing market is healthy
with higher home prices and rent rates and low vacancy rates. There is demand for smaller,
multifamily units.
4. Proposed amendment to EDA bylaws pertaining to the scheduling of regular
meetings
Peter Lubek discussed amending the EDA by-laws to allow the Chairperson or Secretary to
cancel meetings, as needed. Kirtesh Patel recommended that there should also be a
provision that sets a minimum number of EDA meetings in a calendar year. The members of
the EDA discussed meeting at least quarterly in the calendar year.
On motion by Kirtesh Patel to approve amending the EDA bylaws to allow for the
Chairperson or Secretary to cancel meetings and to set a minimum quarterly meeting
requirement, seconded by Kyle Richardson, the motion carried unanimously.
5. Adoption of the meeting schedule for the remainder of 2023
Peter Lubeck discussed that Article Ill of the EDA bylaws requires the Authority to adopt an
annual schedule of meetings at its annual meeting. He presented the proposed schedule of
meetings for the remainder of 2023. All occur on the third Wednesday of each month with
the exception of May since Megan Baker will be out of town. The proposed May meeting
day is May 24.
On motion by Kirtesh Patel to adopt the meeting schedule for the remainder of 2023,
seconded by Mike Cagle, the motion carried unanimously.
ECONOMIC DEVELOPMENT UPDATES
Megan Baker provided an economic development update for the EDA. The sale of Tanglewood
Mall to Hackney Real Estate was finalized in early April. Megan also discussed several
departmental projects including a marketing study, a site evaluation study (almost complete),
and amendments to the Zoning Ordinance to include additional industrial use types.
REPORTS AND INQUIRIES OF THE BOARD MEMBERS
None.
ADJOURNMENT
On motion by Kirtesh Patel, and seconded by Kyle Richardson, the meeting was adjourned at
10:12 a.m.
NEXT SCHEDULED MEETING
Megan Baker stated the next meeting would be May 24, 2023
Respectfully Submitted,
17/C
Megan aker
Secretary-Treasurer