HomeMy WebLinkAbout2/1/2024 - Minutes The Economic Development Authority of Roanoke County
Meeting Minutes
Thursday, February 1. 2024, the Economic Development Authority met at the Roanoke
County Administration Center
Members Present
Woody Windley, Chair
Michael Cagle, Vice Chair
Greg Apostolou
Jeremy Carroll
Todd Ross
Ssunny Shah
Barry Thompson
Megan Baker, Secretary-Treasurer
Rachel Lower, Counsel
Absent
Kirtesh Patel
Kyle Richardson
Don Sowder
Guests
Doug Blount, Assistant County Administrator, Roanoke County
Jessica Beamer, Assistant Director of Finance and Management Services, Roanoke County
Paul Workman, Accounting Manager, Roanoke County
Danielle Poe, Assistant Economic Development Director, Roanoke County
Karli Foster, Economic Development Specialist, Roanoke County
CALL TO ORDER
Chairman Woody Windley called the meeting to order at 9:04 a.m.
ROLL CALL
Megan Baker called the roll.
REQUEST TO POSTPONE, ADD TO, OR CHANGE THE ORDER OF THE AGENDA ITEMS
There were no requests to postpone, add to, or change the order of the agenda items.
INTRODUCTION OF NEW MEMBER JEREMY CARROLL
Woody Windley introduced Todd Ross, the newest member of the EDA, who is representing the
Vinton Magisterial District to the Authority.
APPROVAL OF DECEMBER 7, 2023, MEETING MINUTES
On a motion by Barry Thompson to approve minutes of the December 7, 2023, EDA meeting,
seconded by Ssunny Shah, the motion carried unanimously.
FINANCE REPORT
1. Financial Report through December 31, 2023
Paul Workman reviewed the statements of revenue, expenditures, and changes in the fund
balances ending November 30, 2023, and December 31, 2023. The current year-to-date
activity includes an investment income of$18,044, which exceeds the projected revenue
budget by$9,244 as we continue to see favorable returns on pooled funds. The largest
budgeted revenue item of Bondholder Assessments usually arrives in the March/April
timeframe. Cash available for use is $1,291,866. This is a significant increase over the
October report provided at the last committee meeting and is due to the receiving of
proceeds for the sale of land on Old Cave Spring Road to Publix. You do not see revenue
from the sale of land in this report because the EDA recognized the revenue when this land
was donated by the County. The recent sale transaction reduced the Asset for Land on the
books of$655,000 and increased the EDA's cash balance for the proceeds of$653,568.50
with the difference being recorded as a loss of$1,432 on the income statement. There have
been no changes in grant funds available since the last report.
NEW BUSINESS
1. Election of Officers
a. Chairman
Barry Thompson nominated Woody Windley to serve as Chairman, which was
seconded by Jeremy Carroll.
Mr. Windley was elected by the following recorded vote:
AYES: Apostolou, Cagle, Carroll, Ross, Shah, Thompson
ABSTAIN: Windley
b. Vice-Chairman
Woody Windley nominated Michael Cagle to serve as Vice-Chairman, which was
seconded by Barry Thompson.
Mr. Cagle was elected by the following recorded vote:
AYES: Apostolou, Carroll, Ross, Shah, Thompson, Windley
ABSTAIN: Cagle
c. Secretary and Treasurer
Barry Thompson nominated Megan Baker to serve as Secretary and Treasurer,
which was seconded by Michael Cagle.
Mrs. Baker was elected by the following recorded vote:
AYES: Apostolou, Cagle, Carroll, Ross, Shah, Thompson, Windley
2. Meeting Schedule
Megan Baker proposed a meeting schedule for 2024, with meetings set for the first
Thursday of every month at 9:00 a.m. On a motion by Jeremy Carroll, seconded by Barry
Thompson, the Authority voted unanimously to approve the proposed 2024 meeting
schedule.
BRIEFINGS
1. Director's Update
Megan Baker provided a Director's Update and briefed the Authority on several topics,
including staff participation in the Virginia Economic Developers Association's Legislative
Day at the General Assembly on January 17, The Salem-Roanoke County Chamber of
Commerce's Annual Meeting on January 19, and recent and upcoming ribbon cuttings.
2. Upgrades to Glenmary Dr. to bring the road into the Virginia Department of
Transportation (VDOT) System
Doug Blount briefed the Authority on upgrades to Glenmary Dr. to bring the road into the
Virginia Department of Transportation (VDOT) System. Glenmary Dr., located in the Center
of Research and Technology, is currently a private road owned by the EDA. With the sale of
Lot 3 to SunCap, a distribution use, the road will have the daily vehicle count to qualify for
acceptance into the VDOT system. The total cost to repair the road to meet VDOT
standards is around $300,000 plus $15,000 for surveying. Staff recommends the EDA
consider repairing the road for acceptance into the VDOT system and will formally present
the item for a vote at the next meeting.
CLOSED SESSION
On a motion by Woody Windley and seconded by Ssunny Shah, the present Authority Directors
unanimously voted to meet in closed session, pursuant to Section 2.2-3711(A)(5) of the Code of
Virginia, for discussion concerning the expansion of an existing business or industry that is
located in the County of Roanoke, where no previous announcement has been made of the
business's or industry's interest in expanding its facility in the community. Specifically, this
business expansion is anticipated to take place in the Catawba District.
On motion by Woody Windley and seconded by Jeremy Carroll, the motion carried unanimously
that pursuant to Section 2.2-3712(D) of the Code of Virginia, that in the closed session just
concluded, nothing was discussed except the matter or matters which were identified in the
motion to convene in closed session, and that only those matters lawfully permitted to be
discussed under the Virginia Freedom of Information Act were discussed.
REPORTS AND INQUIRIES OF DIRECTORS
Greg Apostolou asked staff for an update on former Old Valley Cleaners on Williamson Road
and Wood Haven Technology Park.
ADJOURNMENT
On a motion by Michael Cagle and seconded by Ssunny Shah, and a unanimous vote, the
meeting adjourned at 9:45 a.m.
Respectfully Submitted,
Megan Baker
Secretary-Treasurer