HomeMy WebLinkAbout7/7/1994 - Minutes F ROAN0,
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IDA �� • a? Charles R. Saul,Chairman
( (703)985-2623
Industrial Development Authority paa Timothy W.Gubala,Secretary
(703)772-2069
of Roanoke County, Virginia Edward A.Natt,Counsel
(703)772-1197
MINUTES
Industrial Development Authority of Roanoke County, Virginia
July 7, 1994
Members Present: Others Present:
Charles Saul, Chairman Brian Duncan
Bill Branch
Rick Cranwell
Wayne Dunman
Darnall Vinyard
Timothy Gubala, Secretary
Edward Natt, Counsel
Absent:
Ron Martin
Carson Quarles
Chairman Saul called the meeting to order at 9: 00 a.m. in the
Conference Room of the Roanoke County Administration Center, 5204
Bernard Drive.
The minutes of the April 21, 1994, meeting were approved upon a
motion by Rick Cranwell, seconded by Wayne Dunman. The motion
passed unanimously.
Ed Natt reported that since Hugh Sawyer was hot performing audits,
the Authority's audit needed to be re-bid for three years. Tim
Gubala was asked to assist Ed in drafting a letter to be sent to
local auditors to solicit proposals. The Authority will review
proposals at their next meeting and award the audit.
Ed Natt noted that two parcels of land; the Bruce Hill property and
the Helen Cox Richards parcel had been added to the acreage at
Valley TechPark. Ed asked the Authority to approve the addition of
these two tracts to the restrictive covenants. The Authority voted
to do so. Upon a motion by Rick Cranwell, seconded by Darnall
Vinyard, ":he motion passed unanimously.
Brian DL.°i,an began a discussion of the Authority's current real
estate commission policy noting that the County hoped to net a
"dollar amount" after sale and the deduction of the commission. Ed
P. O. Box 20068, 1919 Electric Road, Roanoke, VA 24018 (703) 774-1 197 FAX (703) 774-0961
Natt reviewed recent real estate law changes which now allowed a
buyer-broker relationship. He stated that he was in favor of
adopting this type of policy rather than a set commission policy.
Bill Branch and Rick Cranwell brought up other points relating to
set commissions and finders fees. After further discussion, it was
determined that a revised policy should be prepared by Ed Natt and
the County Economic Development staff and brought back for
discussion at the August 9 meeting.
Brian Duncan gave a brief overview of ongoing construction
activities at Valley TechPark noting that the industrial access
road is now under construction.
Several items of old business were quickly covered.
- Ed Natt reported that he was working with the Circuit Court
to file a Bill of Complaint to remove the cemetery on the
Hinman site adjacent to Hanover on Hollins Road.
- Brian Duncan said that the County and Authority would
probably negotiate the public-private partnership agreement
with Hanover to extend a water line.
- Ed Natt said that Dominion Lodging is seeking to refinance
a bond issue for the Sleep Inn on Route 419. This will be
presented at the August 9 Authority meeting.
- Tim Gubala reported that the County's approved budget for
FY 94-95 has $7,225 in funds for the Authority to assist in
such items as survey and geotechnical costs for prospects,
advertising, and compensation of members for additional
meetings.
There being no further business, the Authority adjourned at 9: 35
a.m.
Respectfully submitted,
7/7,--;U
Timothy W. Gubala, Secretary
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