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HomeMy WebLinkAbout1/25/2021 - Minutes The Economic Development Authority of Roanoke County Zoom Meeting Minutes Roanoke, Virginia 24018 Wednesday, January 25, 2021 Economic Development Authority of Roanoke County, Virginia met remotely by Zoom Members Present Steve Musselwhite, Chair Woody Windley, Vice-Chair Greg Apostolou Michael Cagle Kirtesh Patel Steve Anderson Ssunny Shah Barry Thompson Max Beyer Jill Loope, Secretary-Treasurer Peter Lubeck, Counsel Absent Kyle Richardson Guests Scott Tate, with Virginia Tech, Dan O'Donnell, County Administrator, Tom Rowley, Economic Development Manager, Laurie Gearheart, Director of Finance and Management Services, Jessica Beemer, Assistant Director of Finance and Management Services, Evan Malone, Financial Analyst, and Allison Fay, Recording Clerk. CALL TO ORDER Chairman Steve Musselwhite called the meeting to order at 2:01 p.m. REQUEST TO POSTPONE, ADD TO, OR CHANGE THE ORDER OF THE AGENDA ITEMS Staff requested moving item F. 2- Request from County of Roanoke to the EDA for the Broadband Initiative to be heard first after the minutes. APPROVAL OF October 21, 2020 MINUTES On motion by Barry Thompson to approve the minutes of October 21, 2021 as presented, seconded by Greg Apostolou, the motion carried by unanimous voice vote. Page 2 of.6 January 25, 2021 Economic Development Authority Minutes County of Roanoke to.the EDA for the Broadband Initiative Dan O'Donnell, County Administrator thanked the EDA Board for all their assistance and initiatives that we have been able to accomplish together. He stated that the Administration is asking for one more year of assistance to fulfill the commitment to the Roanoke County Broadband Authority Initiative for FY 2022 and would like to request $386,875.00. Laurie,Gearheart, Finance and Management Services Director presented a PowerPoint presentation and reviewed the following items to the Board; reviewed the EDA's cash balance as of. 1-15-21, Roanoke County Broadband Authority Initiatives and Wood Haven's acquisitions and improvements costs for FY's 2020, 2021 and 2022. Ms. Gearheart stated the following items were the Broadband Authority's initiatives; constructed a core fiber network of approximately 25 miles to serve Roanoke County, capital construction project costs totaled $3.85 million, financed over ten years with final payment in.FY2027, payments for FY2023 through FY2027 total $1.92 million. Ms. Gearheart stated the next steps in the process would be approval from the EDA to appropriate funds to fulfill the commitment to the Roanoke County Broadband Authority Initiative for FY2022. She said if that is approved this item wouldbe brought before the Board of Supervisors for approval as part of the FY 2022 2031 proposed Capital Improvement Program. She said the Countylooks forward to continuing to work together and find ways to grow economy and tax base. She thanked the Board for their time. Mr. Apostolou asked who the current competition in the area was. Mr. O'Donnell said it was Comcast, Lumos, and Cox. He also discussed potential grants that might become available to assist with the costs. Mr. Beyer said he was happy to hear the County and Broadband Authority would be pursuing grants. Mr. Windley asked if the EDA had any upcoming projects that could be affected if we provided the funding. Ms. Loope stated the EDA has a lot coming up in the future, but if the Board approved this funding it would not affect any upcoming projects. Mr. Kirtesh asked how long it will take to replenish the money. Ms. Loope reviewed the money coming and the potential increases in the future. The Authority's primary source of income currently is the fee assessed for the Richfield bond issue, which is approximately$60,000+/- per year. Mr. O'Donnell stated it would be approximately three or more years to recoup the money. On motion by Kirtesh Patel to-approve the request.from Roanoke County to the EDA Board for the Broadband Initiative in the amount of $386,875.00, seconded by Ssunny Shuh, the motion carried by unanimous-voice vote. Page 3 of 6 January 25, 2021 Economic Development Authority Minutes FINANCE REPORT Mr. Evan Malone, Finance Manager of Accounting for Department of Finance, reviewed the information provided on the financial report through December 31, 2020. Ms. Laurie Gearheart, Director of Finance and Management Services stated the report she reviewed in her presentation was January 15th so the Board might see some differences. On motion by Barry Thompson to accept and approve the financial report, seconded by Woody Windley, the motion carried by unanimous voice vote. OLD BUSINESS 1. Presentation & Final Analysis of the Roanoke County Small Business Recovery Grant Program Summary of Awards Round 3. Mr. Rowley, Economic Development Manager, reviewed the Small Business Recovery Grant. He stated $1.6 million had been awarded in the first round and $345,000 awarded through the 2nd round. Mr. Rowley reviewed a PowerPoint presentation and discussed the following items; 302 businesses have received the grant and 71 businesses have received the 2nd grant, the percentage of grants awarded to home based and non-home based business, percentages of business located in the County and Town of Vinton. Mr. Rowley also reviewed the usage of the grant money and stated the money was mostly used for payroll, rent, utilities and PPE. 2. Overview of Virtual Fair Mr. Rowley reviewed the Virtual Career Fair, which was designed to help businesses more easily recruit, vet,and hire workers. He stated that the County used approximately $5,000 of its CARES Act funding to purchase online advertising in target markets across 12 states for the October 28 event focused on higher-level, tech/engineering talent from outside the region. The effort resulted in 3.8 million web impressions and nearly 40,000 clicks--building the region's brand awareness. Thirteen County businesses (and Roanoke County Comm/IT) participated in the event, with 95 job seekers registered and 60 applications submitted. Chairman Musselwhite thanked staff for all their work and help to the businesses. 3. Vineyard Station Update Ms. Loope discussed and reviewed the current Vineyard Station project in the Town of Vinton. She stated they were requesting an extension of their Performance Agreement to March 31, 2021. Ms. Loope stated this would be their 2nd extension Page4of6 January 25, 2021Economic Development Authority Minutes and a grand opening of Joe Goodpies, the first new tenant is expected soon. The consensus of the Board was to grant the extension. NEW BUSINESS 1. Election of Officers At this time, Chairman Musselwhite stated the floor was open for nominations for Chairman and Vice- Chairman of the EDA. A motion was made by Barry Thompson, seconded by Kirtesh Patel to reappoint Mr. Steve Musselwhite as Chairman. The motion carried by the following voice roll call vote: AYES: Mr. Windley, Mr. Apostolou, Mr. Beyer, Mr. Thompson, Mr. Anderson, Mr. Richardson, Mr. Shah, Mr. Patel and Mr. Cagle ABSTAIN: Mr. Musselwhite NAYS: None ABSENT: None A motion was made by Kirtesh Patel, seconded by Max Beyer to reappoint Mr. Woody Windley as Vice-Chairman.. The motion carried by the following recorded vote: AYES: : Mr. Musselwhite, Mr.Windley, Mr. Apostolou, Mr. Beyer, Mr. Thompson, Mr. Anderson, Mr. Richardson, Mr. Shah and Mr. Cagle ABSTAIN: Mr. Windley NAYS: None ABSENT: None A motion was made by Steve Anderson to reappoint Ms. Jill Loope as Secretary/Treasurer. A second was not needed. The motion carried by the following-voice roll call vote: AYES: Mr. Musselwhite, Mr.Windley, Mr. Apostolou, Mr. Beyer, Mr. Thompson, Mr. Anderson, Mr. Richardson, Mr.Shah, Mr. Patel and Mr. Cagle ABSTAIN: None NAYS: None ABSENT: None 2. Request from the County of Roanoke to the EDA for the Broadband Initiative This item was heard under Agenda Item D. 3. Overview of the Economic Development Strategic.Plan Process Presented by Scott Tate, Ashley Posthumus & ZACH JACKSON Ms. Loope introduced Mr. Tate to the Board. Page 5 of 6 January 25, 2021 Economic Development Authority Minutes Mr. Tate reviewed a PowerPoint presentation and gave an overview on how the Virginia Tech Economic Development offices will assist the County with developing a strategic plan. He stated Mr. Cagel would be representing the EDA Board on the Steering Team that will provide guidance and oversight to the planning process. Mr. Tate said it would be a one-year process and that the project funded by AEP grant. money and the office of Economic Development leveraged resources. Mr. Tate also discussed the following items; the purpose of the plan, components need for the plan, project time line and the iterative process. He also reviewed the work that would be done in each quarter for the project. Ms. Loope thanked Mr. Tate for the presentation and said this will be the first Board adopted Strategic Plan and that it is very exciting to be able to move this project forward. 4. Valley TechPark Estoppel Agreement Ms. Loope stated this estoppel has been requested by the purchaser's title insurance company with regards to the sale of the "Mack Trucks" property (6450 Technology Drive) and is routine. In this document, the Authority is certifying that the present use of the property is in accordance with the protective covenants that apply to Valley Techpark. We are also certifying that Sections 6 and 7 of the Park's protective covenants no longer apply (they do not; these sections only apply to unimproved property). Mr. Windley signed the Agreement on behalf of the Authority. ECONOMIC DEVELOPMENT UPDATES Ms. Loope provided updates to the Board on the following items; Valley TechPark covenants, current projects underway, recent ribbon cuttings and Tanglewood Mall new leases that will be announced soon. She stated the Board of Supervisors is holding a Goal Setting Retreat on January 31 st Ms. Loope stated that a new program called Restaurant Week in Roanoke County is being held February 15th to the 26tn Chairman Musselwhite thanked Ms. Loope for her leadership. REPORTS AN INQUIRIES OF THE BOARD MEMBERS Mr. Apostolou inquired about recently purchased land off Old Mountain Road. Mr. Loope stated this property was purchased by a federal grant procured by the Department of Parks Recreation and Tourism to expand Read Mountain Preserve. Page 6 of 6 January 25, 2021 Economic Development Authority Minutes ADJOURNMENT On motion by Barry Thompson and second by Sunny Shah, the meeting was adjourned a 3:03 p.m. NEXT SCHEDULED MEETING February 17, 2021 Respectfully submitted, Ji Loope Secretary-Treasurer