HomeMy WebLinkAbout4/21/1994 - Minutes MINUTES
Industrial Development Authority of Roanoke County, Virginia
April 21, 1994
Members Present: Others Present:
Charles Saul, Chairman Beth Doughty
J. Richard Cranwell
Ronald Martin Members Absent
W. Darnall Vinyard Bill Branch
Timothy Gubala, Secretary Wayne Dunman
Edward Natt, Counsel J. Carson Quarles
Chairman Saul called the meeting to order at 9:01 a.m. in the Conference Room, 4th Floor,
Roanoke County Administration Center, 5204 Bernard Drive.
The minutes of the January 21 and February 18, 1994 meetings were presented. Upon a
motion by Darnall Vinyard, seconded by Rick Cranwell, both sets of minutes were approved
unanimously.
Old business
Ed Natt reported that the IDA had given a $500 deposit to the Roanoke Valley
Development Foundation and Greater Roanoke Valley Development Corporation in order
to jointly acquire 15 acres of land in the Jack Smith Industrial Park for Hanover Direct. Ed
presented a joint resolution for financing $127,974.67 for approval. Upon a motion by Ron
Martin, seconded by Darnall Vinyard, the resolution passed unanimously.
Ed Natt indicated that the note and deed of trust would be prepared to reflect the
Authority's actions. Closing will occur during the week of April 25-29, 1994.
Tim Gubala reported that a final payment of$17,166.67 had been made to Botetourt County
IDA as part of the 5-year commitment for the regional Tweeds location in 1988.
New business
Tim Gubala reported that he had budgeted $5,975 within the County's FY 94-95 budget for
operating funds for the IDA.
Ed Natt reported that Hugh Sawyer's audit business had been merged into IDS. He
doubted that Mr. Sawyer would complete the remaining two years of his audit contract. Ed
would confirm with Mr. Sawyer and advise the Authority. The audit may need to be rebid.
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At 9:11 a.m. upon motion by Rick Cranwell, seconded by Darnall Vinyard, the Authority
went into Executive Session pursuant to the Code of Virginia, Section 2.1-344(A)(5) to
discuss the location of a prospective business or industry. The motion passed unanimously.
At 9:20 a.m.,upon motion by Ron Martin, seconded by Darnall Vinyard,the Authority voted
to return to open session and certified by resolution (attached) that the Executive Session
was held in conformity with the Code of Virginia. The motion passed unanimously.
There was no action taken, but Chairman Saul informed the Authority members that the
Rhode Island prospect was not coming to Roanoke. There being no further business, the
Authority adjourned at 9:22 a.m.
Respectfully submitted,
C m
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Tim thy Gubala, Secretary
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