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HomeMy WebLinkAbout2/19/2014 - Minutes The Economic.Development Authority of.Roanoke.County., Roanoke County Administration Center 5204 Bernard Drive Roanoke, Virginia 24018 Minutes : Wednesday, February 19,2014,9:00 A.M. ANNUAL MEETING Members Present Steve Musselwhite, Chairman Woody Windley, Vice Chairman Billy Branch Greg Apostolou Paul Henkel : Steve Anderson Ssunny Shah Kirtesh Patel Daniel Toti Leon McGhee Jill Loope, Secretary Treasurer . Paul Mahoney,Legal Counsel Members Absent None Guest Brian Carter, Finance Manager Rebecca Owens, Director of Finance :: Diana Rosapepe The Economic Development Authority of Roanoke County, Virginia met this day at the Roanoke County Administration Center, this being their annual meeting CALL TO ORDER Mr. Musselwhite called the meeting to order at 9:00 a.m. APPROVAL OF DECEMER 18,2013 MINUTES A motion was made by Steve Anderson, second by Greg Apostolou to approve the minutes as written. The motion.carried by unanimous voice vote EDA Minutes Page 2 February 19,2014 FINANCIAL REPORT Brian Carter presented the financial report for the period ending January 31, 2014. He reported the equity in pooled cash to be $641,232.52. A motion approving the financial report was made by Woody Windley, and seconded by Greg Apostolou. The motion carried by unanimous voice vote. A copy of the financial report is attached. AUDIT REPORT Brian Carter, Finance Manager, presented and reviewed the annual audit for the EDA. 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 also 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. 2). The Edward Rose Properties must construct a new mixed use commercial development by December 31, 2017. No reimbursement has been made on this agreement to date. 3). Varsity Landscaping & Grounds, LLC Anderson Properties of Virginia, LLC was reimbursed $15,000 for the year ending June 30, 2013. One year remains on this agreement. 4.) Hypergen shall construct an approximately 10,000 square foot office building by March 31,2014. No reimbursement has been made on this agreement to date. Note: Ms. Loope pointed out that Hypergen was granted an extension on their current agreement and will be reflected in the audit ending 2014. Also, The Ardagh agreement will be included in the audit for the year ending 2014. Bill Branch made a motion to accept the audit report. Ssunny Shah seconded the motion which carried by a unanimous voice vote. A copy of the audit is attached. NEW BUSINESS New Member Ms. Loope introduced Mr. Daniel A. (Dan) Toti, newly appointed member representing the Catawba Magisterial District. Mr. Toti is employed with BB&T. Everyone welcomed Mr. Toti. EDA Minutes Page 3 February 19, 2014 Election of Officers Ms. Loope stated the floor is open for nominations for Chairman, Vice-Chairman and Secretary- Treasurer of the Economic Development Authority. A motion was made by Kirtesh Patel to nominate Steve Musselwhite as Chairman. Hearing no further nominations, the nomination was seconded by Woody Windley. The motion carried by a unanimous voice vote. A motion was made by Bill Branch nominating Woody Windley as Vice-Chairman. Hearing no further nominations, the nomination was seconded by Steve Anderson. The motion carried by unanimous voice vote. A motion was made by Ssunny Shah, seconded by Greg Apostolou nominating Jill Loope as Secretary-Treasurer. There were no further nominations. The motion carried by unanimous voice vote. Yearly Audit Discussion Rebecca Owens, Director of Finance was present and stated that a vote of the Board is not required to approve payment of the EDA portion of the annual audit, as this is included as a line item in the annual budget. The EDA covers one-half of the cost of its portion of the county budget with bond holders sharing the balance of the expense. That total cost of the EDA audit is $3,376. BRIEFINGS Update and Presentation on Roanoke County's Library Systems At this time, Ms. Loope introduced Diana Rosapepe, Director of Library Services who presented a PowerPoint presentation of the Roanoke County Library System. She gave an overview of the library operations, the services offered and a comprehensive update of new and existing facilities. She noted that the Roanoke County library system offers a variety of opportunities for businesses and citizens and that there has been an increasing demand for community meeting space. Mr. Musslewhite requested that staff forward a copy of the presentation to the Authority members to share with others. A copy of the presentation is attached. r ; ECONOMIC DEVELOPMENT UPDATES Prospect Activity Jill Loope stated that activity had picked up as she is currently preparing proposals for three different prospects; however, she stated that these are early stage projects and there are no commitments at this time. Edward Rose Properties She stated that Edward Rose Properties, a mixed use commercial development on Cove Road, is currently getting ready to do a press announcement as they are planning to move forward with construction very soon. The site plans for the project have been approved. Ms. Loope stated she would keep everyone informed as this project moves forward. Western Virginia Regional Industrial Facility Authority Ms. Loope gave an update on Western Virginia Regional Industrial Facility Authority. She stated the first organization meeting is scheduled for February 20, 2014. The creation of the Authority was an effort to spur economic activity across the Roanoke Valley. Officials from seven local governments joined the new regional authority in order to share resources to create new large tracts of industrial property to lure new business into the region. She will report more information on the work of the WVRIFA following the organizational meeting. Re-accreditation Mr. Loope stated the department is currently going through a re-accreditation process. The department was first awarded accreditation through the AEDO program in 2004. The AEDO program is a comprehensive peer review process that measures economic development organizations against commonly held standards in the profession. The program consists of two phases: documentation review and an onsite visit. Each phase is designed to evaluate information about the structure, organization, funding,program, and staff of the organization. Ms. Loope stated the documentation review is complete and the onsite visit is being scheduled for late April. She stated she may be calling up members during this visit. Stormwater Management Steve Musselwhite gave a brief update on the work of the Stormwater Advisory Committee. The Committee has been meeting over the last few months and was scheduled to have their last meeting February 12th to evaluate/modify committee recommendations, however, was postponed due to bad weather. The rescheduled meeting will be held February 27 at the Glenvar Library from 6:00— 8:00 p.m. The draft recommendations of the Advisory Committee will be evaluated at this meeting. EDA Minutes Page 5 February 19, 2014 Discussion ensued regarding the stormwater issues as this is a huge expense and will place a significant cost on developers. Mr. McGhee stated the regulations were already expensive and with new and more stringent regulations will prove to be a hardship in many areas of development. Mr. Musselwhite urged all members to attend the meeting on February 27 if possible. REPORTS AND INQUIRIES OF BOARD MEMBERS None ADJOURNMENT The meeting was adjourned at 10:00 a.m. NEXT MEETING The next regularly scheduled meeting is March 19, 2014 at 9:00 a.m. Respectfully submitted, Jill Loore Secretary-Treasurer