HomeMy WebLinkAbout2/1/2006 - Minutes t
- The Economic Development Authority of Roanoke County
Roanoke County Administration Center
5204 Bernard Drive
Roanoke, Virginia 24018
Minutes for
Wednesday, February 1, 2006 10:00 A.M.
Members Present Members Absent
Chairman-Billy Branch Neil Gallagher
Vice Chairman-Steve Musselwhite Allan "Cap" Robinson
Carole Brackman
Craig Sharp
Woody Windley
Ed Natt, Counsel Guest
Doug Chittum, Secretary-Treasurer Jill Loope, Assistant Director for Economic Development
Terrie Cochran, Recording Clerk Elizabeth Atkinson-Financial Analyst, Roanoke County
The Economic Development Authority of Roanoke County, Virginia met this day at the Roanoke
County Administration Center. This being the regularly scheduled monthly meeting.
Chairman, Billy Branch, called the meeting to order at 10:00 A.M.
Minutes
A motion was made by Carole Brackman to approve the November 2, 2005 minutes, seconded
by Craig Sharp, carried by unanimous voice vote.
Finance Report
Elizabeth Atkinson, Roanoke County Finance Analyst presented the Finance Reports for the
current period through January 31, 2006. Elizabeth also presented the audit cost increase for
2006, in the amount of $3731.00 if conducted by Foti, Flynn Lowen & Company. A motion was
made by-Woody Windley to accept the financial reports, seconded by Steve Musselwhite,
carried by unanimous voice vote.
New Business
Execution of Performance Agreements
Cox Communications: Cox Communications Roanoke has agreed to construct a building
expansion of 27,000 square feet and to renovate the existing facility on their property located on
Fallowater Lane in Roanoke County. The estimated investment of building construction and
purchase of equipment is in excess of $5 million with 40 additional jobs. The Roanoke County
Board of Supervisors has approved a three party Performance Agreement, which allows for a
yearly Economic Development Grant for three years new taxes to be granted to the company
through the Economic Development Authority.
A motion was made by Craig Sharp to give Chairman, Billy Branch authority to execute the
Performance Agreement between Cox Communication, Board of Supervisors, and Economic
Development Authority, seconded by Vice Chair, Steve Musselwhite.
ITT Night Vision Division: The company has been awarded a $700,000 grant from the
Governor's Opportunity Fund, which requires a local match by Roanoke County, and a
$150,000 training grant from the Virginia Division of Business Assistance Workforce Services
Program, which will provide training assistance for the new employees. The $700,000 local
match will be in the form of an economic development grant which will be administered by the
Roanoke County Economic Development Authority. This grant is equal to four years of new tax
revenue generated by this expansion/renovation project and shall begin in fiscal year 2007. The
grant will not exceed $700,000. The Roanoke County Board of Supervisors approved a three
party Performance Agreement at their last scheduled meeting.
A motion was made by Vice-Chairman, Steve Musselwhite to give Chairman, Billy Branch
authority to execute the Performance Agreement between ITT Night Vision Division, Board of
Supervisors, and Economic Development Authority, seconded by Carole Brackman.
Mennel Mill: Mennel has decided to construct a 73,480 square foot state-of-the-art flour mill on
26.96 acres off Benois Road and Commonwealth Drive in Roanoke County. The new mill will
more than double the capacity of the current mill. Mennel is planning a $30.8 million investment
in state-of-the-art equipment and a new modern facility to move the company's manufacturing.
The Roanoke County Board of Supervisors approved a three party performance agreement
between Roanoke County, Roanoke County Economic Development Authority, and Mennel
Milling. The agreement allows for an economic development grant in an amount equal to three
years of new local tax revenue to be reimbursed to the company after the new facility is built,
not to exceed $900,000 in total.
A motion was made by Vice-Chairman, Steve Musselwhite to give Chairman, Billy Branch
authority to execute the Performance Agreement between Mennel Milling, Board of Supervisors,
and Economic Development Authority, seconded by Woody Windley.
Briefing
Capital Improvement Program (CIP)
Woody Windley briefed the board; There are approximately 60 projects for the CIP committee to
review, with Libraries and Parks being rated number one. On February 2, 2006 a final meeting
will be held by the CIP committee, in which all recommendations from that meeting will be
submitted to the Board of Supervisors.
Williamson Road Facade Mini Grant Program
Doug Chittum briefed the board; this program provides funding to assist businesses with
improvements to building facades, landscaping, signage, parking lot, and other exterior
features. This grant program matches the investment made by small businesses on a 50/50
basis and the current maximum grant amount is $5,000. The Board of Supervisors requested
that the match be raised to $15,000, with a review in ninety days, and a final review of the
program within one year.
Reports and Inquires of Board members
Craig Sharp requested that for future meetings he would like maps displayed of Project areas
that we are discussing such as Center for Research and Technology, and Vinton Business
Center.
- Chairman, Billy Branch adjourned the meeting with unanimous voice vote.
Respectfully submitted
E. Douglas Chittum
Secretary-Treasurer
Next Scheduled Meeting:
Wednesday, March 1, 2006
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