HomeMy WebLinkAbout6/15/2022 - Minutes The Economic Development Authority of Roanoke County
In Person Meeting
Minutes
Roanoke, Virginia 24018
Tuesday, June 15, 2022, the Economic Development Authority of Roanoke
County, Virginia met at the Roanoke County Administration Center
Members Present
Woody Windley, Chair
Michael Cagle, Vice-Chair
Greg Apostolou
Ssunny Shah
Kirtesh Patel (arrived at 9:07 a.m.)
Kyle Richardson
Barry Thompson
Max Beyer (arrived at 9:08 a.m.)
Jill Loope, Secretary-Treasurer
Rachel Lower, Counsel
Absent
Steve Anderson
Guests
Catherine Hall, Finance Manager
CALL TO ORDER
Chairman Woody Windley called the meeting to order at 9:05 a.m.
REQUEST TO POSTPONE, ADD TO, OR CHANGE THE ORDER OF THE AGENDA
ITEMS
Ms. Loope stated she has added an item to the agenda under Old Business to consider
an easement adjustment to the stormwater detention facility for Technology Drive 1 LLC
in support of the Lowe's Distribution project in Valley TechPark.
APPROVAL OF APRIL 6, 2022 MINUTES
On motion by Barry Thompson to approve the minutes of April 6, 2022, seconded by Mike
Cagle, the motion carried by unanimous voice vote.
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June 15, 2022 Economic Development Authority Minutes
FINANCE REPORT
Ms. Hall reviewed the information provided in the statement of revenues, expenditures
and changes in fund balances ending April 30, 2022. The current cash balance in the
EDA account is $487,137.
On motion by Kyle Richardson to accept and approve the financial report as presented,
seconded by Ssunny Shah, the motion carried unanimously.
Me. Hall also reviewed the FY23 Budget and noted that there was only $57,153 of net
change in the fund balance.
On motion by Ssunny to accept and approve the FY23 budget, seconded by Kyle
Richardson, the motion carried unanimously.
OLD BUSINESS
1. Easement location adjustment in Valley TechPark
Ms. Lower noted that the County Attorney's office was contacted by the attorney for
the Lowes' distribution center project to request an easement adjustment to the
stormwater detention facility owned by the County for Technology Drive 1 LLC in
Valley TechPark. She indicated that all parties are in agreement with the adjustment
as noted on the easement plat, which will allow the County unencumbered access
to the pond for future maintenance.
On motion to approve the easement adjustment by Mike Cagle and seconded by
Ssunny Shah, the motion carried unanimously.
ECONOMIC DEVELOPMENT UPDATES
Marshall Stanley delivered a presentation on economic development updates during the
past year in each magisterial district of the County. Transportation and economic
development projects were highlighted to demonstrate the ongoing progress with
infrastructure projects and the outcomes for each area. Board members asked several
questions about specific project updates; Mr. Thompson asked about the Vinton hotel
project status. Ms. Loope stated that there have been several delays due to supply chain
and franchise issues, and anticipated that the project will move forward this year. Mr.
Apostolu asked about the status of the Old Cave Spring Road project. Ms. Loope
informed the board that the developer has completed the Traffic Impact Analysis and is
currently undergoing additional due diligence for the project. The developer has renewed
their option agreement and have paid the option fee as they are further evaluating the
site.
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June 15, 2022 Economic Development Authority Minutes
ECONOMIC DEVELOPMENT UPDATES
Ms. Loope noted that Mr. Thompson and Mr. Cagle's term expired September of 2021
and they will be considered for reappointment soon. The Clerk to the Board will notify the
Board members when the reappointment is approved and an oath of office will need to
be administered. She also informed Mr. Shah, Mr. Richardson and Mr. Beyer that their
terms will be expiring in September of 2022 and the Board will be notified of this so that
they can consider the reappointments.
Ms. Loope shared that she recently delivered a presentation on the Reimagine 419 Plan
at the VEDA summer membership meeting in Wytheville. There were many questions
and several economic development leaders from across Virginia wanted additional
information on our program. Additional follow up has been provided to various
communities that wish to implement similar programs in their community.
Staff continues to interview candidates for the. Assistant Director position for the
Department, with the goal of hiring someone in the near future. Ms. Loope noted that the
Wood Haven Technology Park continues to attract strong prospect activity. The Vinton
Business Center and the CRT are also generating new prospect interest. She noted that
there are several expansion projects with County businesses in the works that she is
currently assisting.
REPORTS AND INQUIRIES OF THE BOARD MEMBERS
ADJOURNMENT
On motion by Chairman Windley and second by Ssunny Shah, the meeting was
adjourned at 10:15 a.m.
NEXT SCHEDULED MEETING
July 20, 2022
71ae_ctfully submitted,
oope
Secretary-Treasurer