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HomeMy WebLinkAbout1/20/2016 - Minutes The Economic Development Authority of Roanoke County Roanoke County Administration Center 5204 Bernard Drive Roanoke,Virginia 24018 Minutes Wednesday,January20,2016,9:00 A.M. ANNUAL MEETING Members Present Chairman-Steve Musselwhite Woody Windley,Vice-Chair Dan Toti Greg Apostolou Leon McGhee Steve Anderson Max Beyer Jill Loope, Secretary-Treasurer Jay Brenchick,Economic Development Manager Ruth Ellen Kuhnel,Counsel Recording Clerk,Glenna Ratcliffe Members Absent Ssunny Shah Bill Branch Kirtesh Patel Guest Rebecca Owens,Director of Finance Brian Cartel, Finance Manager Megan Cronise, Community Development Principal Planner Dan O'Donnell,Assistant County Administrator Bart Smith.Director,Small Business Development Center The Economic Development Authority of Roanoke County,Virginia met this day at the Roanoke County Administration Center,the annual meeting of the Economic Development Authority CALL TO ORDER Chairman, Steve Musselwhite, called the meeting to order at 9:05 a.m. Page 2 January 20,2016 Economic Development Authority Minutes INTRODUCTION OF NEW MEMBER,MAX BEYER. At this time, Chairman Steve Musselwhite, introduced Max Beyer and welcomed him to the Economic Development Authority. Mr. Beyer resides in the Hollins District. REQUEST TO POSTPONE, ADD TO, OR CHANGE THE ORDER OF THE AGENDA ITEMS None APPROVAL OF OCTOBER 21 ,2015 MINUTES After a motion by Dan Toti and second by Woody Windley,the minutes of October 21, 2015 were approved by unanimous voice vote. FINANCE REPORT AND AUDIT REPORT Finance Report Brian Carter, Finance Manager,presented the financial report for the month ending December 31,2015. He noted that the actual revenues were$991,798.67 and actual expenditures were $991,418.98. The cash balance at the end of December was $649,817.67. (copies attached) A motion was made by Max Beyer and seconded by Steve Anderson to accept the financial report for December 31, 2015 as presented. The motion carried by unanimous voice vote. Audit Report Brian Carter, Finance Manager, presented and reviewed the EDA annual audit for the year ending June 30, 2015. The EDA audit was again presented as a component of the county audit. Mr. Carter reviewed the balance sheet, the statement of revenues, expenditures and changes in fund balances as well as the schedule of revenue bonds and notes outstanding. Mr. Carter reviewed the following outstanding Performance Agreements: 1) The. English Construction, Inc. agreement is currently on hold pending resolution of infrastructure obligations and no reimbursement has been made on this agreement. He pointed out that this agreement is now complete and will be reflected in the audit ending June 30, 2016. 2) The Edward Rose Development Company, LLC agreement provides for the Authority to grant funds not to exceed $300,000 for the Economic Development Incentive Grant, based on new local tax revenues in any two calendar years at the company's choice from tax years 2013-2017. A modification agreement was approved on April 22, 2014, extending the completion date for the mixed use commercial development to December 31, 2019 and extending the company's - choice of tax years for the Economic Development Incentive Grant to include the 2018 and 2019 calendar years. No reimbursement has been made on this agreement. Page 3 January 20,2016 Economic Development Authority Minutes. 3) On January 25, 2013, the Authority, in conjunction with the County approved an agreement with Hypergen,Inc. whereby the Company shall construct an approximately 10,000 square foot building originally by March 31,"2014, The agreement provided for the Authority,,with funds from the County, to grant an amount estimatedto be $37,500 a year for two years based solely on new local tax revenues generated by the project. The amount of this grant shall not exceed $75,000 and reimbursement will begin in 2014-15. A modification agreement was approved on December 18, 2013, extending the completion date for the office building construction to March 31, 2017 and changing the years for reimbursement to 2016-2017. No reimbursement has been made on this agreement. 4) On August 13, 2013, the Authority, in conjunction with the County, approved an agreement with Ardagh Metal Packaging USA, Inc., whereby the company shall acquire 56 acres of land and acquire, renovate, and equip an existing 524,600 approximate square foot industrial foot industrial facility by December 31, 2014. It is also anticipated that the company will create and maintain 96 new jobs. The agreement provides for funding of$750,000 from a Governor's Opportunity Fund Grant. The agreement also provides for the Authority, with funds from the county,by way of a grant estimated at$2,300,000, for the Economic Development Incentive Grant based on new local tax revenues in calendar years 2015- 2017. In addition, the agreement provides for a local match of$150,000 should the company receive a Rail Industrial Access Program Grant. The $750,000 Governor's Opportunity Fund Grant was received by the County and paid to the Company for the year ended June 30, 2014. 5) On August 26, 2014, the Authority, in conjunction with the County,approved an agreement with Allstate Insurance Company, whereby the company shall construct an approximately 70,000 square foot new office and call center building by January 1, 2016. After construction, the company agrees to employ approximately 515 full-time employees at the property. This agreement provides for the Authority, with funds provided by the County, to grant funds not to exceed $300,000 for the Economic Development Incentive Grant, based on new local tax revenues collected for the.18 month period following the date of project completion. Payments will be made over a two-year period starting the date of project completion or January 1, 2016. The County has agreed to pay up to $30,000 for costs of a new water line to the property. Any excess costs will be paid by the company. No reimbursement has been made on this agreement. Mr. Carter pointed out that the County has.three Revenue Bonds, 1) Public Facility Project for Roanoke County,Richfield Retirement Community, and an office building for Roanoke County. A motion was made by Greg Apostolou and seconded by Leon McGhee to accept the Audit Report. The motion carried by a unanimous voice vote. (copy attached) NEW BUSINESS - - - Election of Officers - - Mr. Musselwhite stated the floor is open for nominations for Chairman, Vice-Chairman and Secretary-Treasurer of the Economic Development Authority. Page 4 January 20,2016 - Economic Development Authority Minutes A motion was made by Woody Windley to nominate Steve Musselwhite as Chairman. Hearing no further nominations, Mr. Musselwhite's nomination was seconded by Dan Toti. The motion carried by a unanimous voice vote. A motion was made by Greg Apostolou nominating Woody Windley as Vice-Chairman. Hearing no further nominations, Mr. Windley's nomination was seconded by Leon McGhee. The motion carried by unanimous voice vote. A motion was made by Steve Anderson; seconded by Dan Toti nominating Jill Loope as Secretary-Treasurer. There were no further nominations. The motion carried by unanimous voice vote. - BRIEFINGS Roanoke Regional Small Business Development Center (RRSBDC) At this time, Bart Smith, RRSBDC Director, gave a PowerPoint presentation on the Roanoke Regional Small Business Development Center. The Roanoke Regional SBDC is a partnership between U.S. Small Business Administration, George. Mason University, Roanoke Regional Chamber, regional governments and sponsors. The mission of the RRSBDC is to promote small business creation, growth and development by providing no cost professional business counseling, affordable training opportunities and information resources. RRSBDC assists existing small businesses, aspiring business owners and not-for profit organizations. Mr. Smith reviewed the services of the SBDC, areas of assistance and locations in Virginia, and service statistics specific to Roanoke County. Steve Musselwhite thanked Mr. Smith for his presentation. (Copy of presentation attached) Strategic Planning Presentation Dan O'Donnell, Assistant County Administrator, gave a PowerPoint presentation regarding the Community Strategic Plan. He provided 'a definition of the plan; the purpose, process and timeline for adoption. Mr. O'Donnell stated that creating a community strategic plan is a process that needs active participation from Roanoke County's leaders and citizens, and is an opportunity for people to voice their opinions and make a difference in the community. He stated that residents can take part in the process by joining focus groups organized around 'broad topics such as Economic Development, Education, Public Safety, Transportation, Quality of Life, and Health and Well-Being. Focus group participants will work with Board of Supervisors' members and County staff to create a plan that will shape Roanoke County's future. t Page 5 January 20,2016 Economic Development Authority Minutes Mr. O'Donnell stated that staff would like a commitment from EDA members to serve on the focus groups which would require attendance at four meetings. Jay Brenchick added that each member would need to visit the Roanoke County website and sign up to be a part of the focus groups. ECONOMIC DEVELOPMENT UPDATES WFXR Fox 21-27 Ms. Loope stated on December 15, 2015, WFXR Fox 21-27 held a grand opening of their expanded facility located at 5305 Valley Park Drive. The new $3.0 million 15,000 sq. ft. facility features a dynamic news studio outfitted with the latest HD news production resources and technologies including enhanced meteorological forecasting technology, advanced weather equipment and full high definition broadcast technologies. In addition,the new Roanoke facility will include a unique news content center featuring innovative equipment that allows the stations' to transcend the traditional news presentation by providing local viewing audiences exclusive access to the news gathering and technical process. She stated that thirty-three new employees were added to support the expansion. Catawba Hospital Ms. Loope stated that efforts are being made to prevent the closure of Catwaba Hospital which would have an economic impact of$26 million dollars and loss of up to 380 jobs. She stated that she and Howard Hall, Police Chief and Dan O'Donnell, Assistant County Administrator testified before the Senate Finance Committee and House Appropriations Committee on January 7, 2016 to request that the hospital remain open. The Roanoke County Board of Supervisors and Roanoke City Council both adopted resolutions in favor of leaving the Hospital open. Realtor Outreach Strategy Ms. Loope stated that on January 14, 2016, the Office of Economic Development presented a demonstration to the Roanoke Valley commercial and residential realtors on the new Site Selector application. The Site Selector application leverages new technology to provide users with a one-stop-shopping experience when researching a property and a tool to learn how to keep listings up-to-date with the Economic Development Office. Site Selector provides more advanced and comprehensive data on business properties than ever before. It also gave economic development staff an opportunity to schedule meetings with Commercial Realtors. Page 6 • January 20,2016 Economic Development Authority Minutes The HIVE Annette Patterson, President of the Advancement Foundation, recently announced receipt of a new grant award in the amount of $60,000 to support small business start-ups and expansion within the Town of Vinton/Roanoke County area. The program will culminate with judged presentations, business plan evaluations and ultimately the GAUNTLET Business Competition awards event on April 23, 2016. This competition is the region's largest business competition with more than$50,000 in awards. REPORTS AND INQUIRIES OF BOARD MEMBERS In response to a query by Greg Apostoulou, Ms. Loope stated she understood that Allstate had originally planned to move some jobs away from Roanoke but their plans changed,which is why those jobs were moved to downtown Roanoke. ADJOURNMENT Steve Musselwhite, Chairman,adjourned the meeting at 10:20 a.m. NEXT SCHEDULED MEETING February 17, 2016 Respectfully submitted, Jil Loope, Secretary-Treasurer