HomeMy WebLinkAbout12/22/1994 - Minutes sOANO4
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o ` �' z 1 D l 1 Charles R. Saul Chairman
J 4 q .ate
(703) 985-2623
1838 Industrial Development Authority Timothy W. Gubala, Secretary
(703) 772-2069
of Roanoke County, Virginia - Edward A. Natt, Counsel
(703) 774-1.197
MINUTES
December 22, 1994
Members Present: Absent:"
Charles-Saul, Chairman _ Wayne Duncan
Bill "Branch Darnall Vinyard _ - _
Rick Cranwell
Ron Martin
- =Carson Quarles Others present:
T-imothy -Gubala,. Secretary - Brian Duncan
Edward Natt, Counsel _ =
Chairman Saul called the , meeting to order at 8:30 "a.m. in the
Conference Room of" the Roanoke County. Administration Center, 5204
Bernard Drive The minutes of the October 18, 1994 meeting_were__
approved upon a motion by. Carson Quarles, seconded by Ron Martin.-
New business:
Ed Natt presented an option agreement that had been negotiated_with
Charles and Irene Beahm. They own an approximate 50.8 acre tract
of industrial; zoned land adjacent to Ingersoll-Rand in north _
Roanoke County. = Tim Gubala has been negotiating with them and -
their agent Joe Ramsey to obtain an option. The site is rail
accessible according to a study done by Norfolk-Southern Railroad
The `option will extend _.until - December- 15,. 1998. During that -
• period, the Authority will undertake engineering, geological and
g g,other tests to determine the feasibility of this site for future
industrial" buildings and development. Upon a motion by Bill
Branch, seconded by Carson.Quarles, the Chairman of the Authority
was unanimously authorized to execute the option. Funds would be.
requested from Roanoke County to reimburse the Authority for the
option fee.
Ed Natt presented a letter from First Union requesting :;a
certificate of consent to legally transfer the industrial revenue
bond `_ previously issued in: the
name of Dominion Bankshares
Corporation to First Union Corporation. Upon motion by Carson
Quarles, seconded by Rick -Cranwell, the:.Chairman and Secretary of
the Authority were unanimously authorized to execute the
certificate prepared by First Union.
Brian Duncan gave an update on a prospect for Valley TechPark. Two
sites in the industrialpark have. been identified as
- - potential
P.O. Box 20068, 1919 Electric Road,Roanoke,VA 24018 • (703) 774-1197 FAX(703) 774-0961
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sites. Brian requested that the Authority authorize soil borings
and subsurface investigations to determine the feasibility of
constructing an industrial building on those sites. It is
estimated that these costs will be less than $10,000 with one-half
the funds to be paid for by the prospect. -
Upon a motion by Carson Quarles, seconded by Bill Branch, the
Authority authorized the Roanoke County Economic Development staff
to secure proposals and select the most qualified engineering firm
to undertake soil borings and subsurface investigations for two
sites in Valley TechPark. The motion passed unanimously.
Treasurer's Report:
Tim Gubala reported that the Authority had $3, 035.80 in their
regular savings account and $100.27 in their special savings
account. Three companies are outstanding for -payment of annual
audit/attorney's fees. A follow-up contact will be made to each.
An invoice is due from Wayne Heslep for members' attendance at two
IDA meetings for the Dominion Lodging bond refinancing. Ed Natt
indicated that the bonds were not marketable--the project is "on
hold. "
Final attendance checks will be sent to the members for the
meetings held on October 18 and December 22, 1994. Ed Natt asked
for an invoice for today's meeting to send to First Union.
There being no further business, the Authority adjourned at 8:45
a.m.
Respectfully submitted,
I/' -0 `
Timo by W. Gubala
Secretary-Treasurer
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