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HomeMy WebLinkAbout3/7/2024 - Minutes The Economic Development Authority of Roanoke County Meeting Minutes Thursday, March 7, 2024, the Economic Development Authority met at the Roanoke County Administration Center Members Present Michael Cagle, Vice Chair Greg Apostolou Todd Ross Ssunny Shah Barry Thompson Kirtesh Patel Kyle Richardson Don Sowder Megan Baker, Secretary-Treasurer Peter Lubeck, Counsel Absent Woody Windley, Chair Jeremy Carroll 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 Rhonda Perdue, Chief Deputy Clerk, Roanoke County Philip Thompson, Planning Director, Roanoke County CALL TO ORDER Vice-Chairman Michael Cagle called the meeting to order at 9:00 a.m. - ROLL CALL . Megan Baker called the roll. REQUEST TO POSTPONE, ADD TO, OR CHANGE THE ORDER OF THE AGENDA ITEMS There were norequests to postpone, add to, or change the order of the agenda items. APPROVAL OF FEBRUARY 1, 2024 MEETING MINUTES On a motion by Ssunny Shah to approve minutes of the February 1, 2024, EDA meeting, seconded by Barry Thompson, the motion carried unanimously. FINANCE REPORT 1. Financial Report through January 31, 2024 Paul Workman reviewed the statements of revenue, expenditures and changes in the fund balances ending January 31, 2024. The current year-to-date activity includes investment income of$26,074, which includes $8,030 for the month of January alone. Bondholder's Assessment Fee of$56,925 for the 2019 Bonds has been sent to Friendship Manor. These funds have not yet been received and therefore this revenue is not yet reflected in cash. Cash available for use is $1,299,896. Grant funds available for dissemination remain unchanged at$26,502. We're showing three new Incentive Agreements (IA) in January. We've received and paid $15,000 for the Tacorita IA. Not shown, we've collected $54,646 for Waukeshaw IA, and $50,000 for Vinyard Station IA and these were both paid out in February. Broadband funds received in January include $91,124 for the Craig Botetourt Electric Coop project and $40,000 for the Shentel (Franklin County), which were then paid directly to the vendor by the EDA. Not shown, we collected an additional $494,115 in February for the Cox Communications and 34,131 for B2X contracts. Next month, February, we will see the sale of Land to SunCap reflected in the statements, which reflects a gain on the sale of$810,915. NEW BUSINESS 1. Financing of Improvements of Glenmary Drive Megan Baker presented the financing of improvements of Glenmary Drive to bring the road into the Virginia Department of Transportation (VDOT) System. The total cost is estimated to be $350,000, which includes $25,000 for Architecture and Engineering Services, $15,000 for the survey, and $310,000 for construction. She also presented the draft agreement with Glenmary Drive, LLC (SunCap), the Board of Supervisors, and the EDA to effectuate the improvements. On a motion by Barry Thompson, seconded by Todd Ross, the Authority voted unanimously to authorize the Chairman to enter into an agreement with Roanoke County and Glenmary Drive Roanoke, LLC for said improvements to Glenmary Drive and to authorize the Chairman to take any other actions that may be necessary to effectuate such improvements to Glenmary Drive. 2. EDA April Meeting Megan Baker shared that the April meeting conflicted with the Vinton State of the Town Meeting and proposed April 11th or 18th as an alternative date. On a motion by Don Sowder, seconded by Kyle Richardson, the Authority voted unanimously to reschedule the April EDA meeting to April 18th. BRIEFINGS 1. Director's Update Megan Baker briefed the EDA on the recent Mack announcement, the kickoff of the retail study, and a small business grant program in development. 2. Planning Director's Update Philip Thompson, Director of Planning, discussed the four transportation studies in progress: Starkey Road/Ogden Road Streetscape Improvements, West Main Street at Dow Hollow Road Intersection, Carson Road Safety Improvements, and Peters Creek Road/Williamson Road Multimodal Safety Improvements. He highlighted the expanded McAfee Knob Trailhead Shuttle Service, which adds stops in Salem. Philip also discussed two recent development projects: the rezoning of AEP property from C-2 to 1-2 for a construction yard and the rezoning application for the proposed Sheets on Route 220 to remove proffered conditions. CLOSED SESSION On a motion by Michael Cagle and seconded by Todd Ross, the present Authority Directors unanimously voted to meet in closed session, pursuant to Code of Virginia Section 2.2- 3711(A)(3)for discussion or consideration of the acquisition of real property, located in the Catawba and Hollins Magisterial Districts, where discussion in an open meeting would adversely affect the bargaining position or negotiating strategy of the public body. CERTIFICATION RESOLUTION AND ADDITIONAL NEW BUSINESS On a motion by Michael Cagle and seconded by Ssunny Shah, 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. On a motion by Kirtesh Patel and seconded by Kyle Richardson, the Authority voted to direct the secretary to work with County purchasing staff to retain the services of a real estate agent to assist with the potential acquisition of real property. Kirtesh Patel abstained from the vote. REPORTS AND INQUIRIES OF DIRECTORS None. ADJOURNMENT On a motion by Kirtesh Patel and seconded by Todd Ross, and a unanimous vote, the meeting adjourned at 10:10 a.m. Respectfully Submitted, Megan Baker Secretary-Treasurer