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HomeMy WebLinkAbout12/14/1992 - Minutes MINUTES Industrial Development Authority of Roanoke County, Virginia 9 a.m. - December 14, 1992 Members Present: Members Absent: Charles Saul, Chairman Rick Cranwell Bill Branch Wayne Dunman Ron Martin Carson Quarles Darnell Vinyard Timothy Gubala, Secretary Edward Natt, Counsel Others Present: Elmer C. Hodge Paul Mahoney Diane Hyatt Don Myers Brian Duncan Chairman Saul called the meeting to order at 9 a.m. in the Community Room of the Roanoke County Administration Center. He noted that the Authority needed to review and approve minutes of May 21, 1992 . On motion of Carson Quarles, seconded by Bill Branch, minutes of the meeting were approved. New business: Consideration and approval of Industrial Revenue Bond Financing for Roanoke County Board of Supervisors, including adoption of inducement resolution. County Attorney Paul Mahoney presented Roanoke County's proposal to acquire the Travelers building on Route 419. He introduced Diane Hyatt, Director of Finance and Don Myers, Assistant County Administrator. Paul indicated that the request involved a lease transaction.. subject to future appropriations. Don Myers cited several space studies that had shown that the county's functions were located in offices spread around the County and Salem. The County is leasing space on Brambleton Avenue for several offices. Don indicated that the . buildings $2.4 million price was less than its assessed value. Carson Quarles inquired as to why the acquisition of the Travelers building wasn't placed on the County's recent (November 1992) bond referendum. Diane Hyatt responded that the timing issue was the reason. The building issue 1 came up after the bond referendum was structured. She noted that other financial initiatives are approved without voter approval (i.e. , VPSA Bonds for schools) . There was a question about the future use of the County Administration Center. Don Myers indicated that there were several options being considered. Charles Saul inquired about the parking situation at the Travelers building. Don Myers reported that the building had approximately 100 more spaces than at the Administration Center and Brambleton Corporate Center combined. Ron Martin inquired about the total square footage to be leased. Don Myers reported that the Traveler's building had 52, 000 square feet total versus 44, 000 square feet of current occupancy for the various County offices to be moved. Darnell Vinyard inquired about the amount of taxes currently received from the Travelers property. Don Myers stated $39, 000. Elmer Hodge indicated that _.other County properties would be available for sale after the relocation and, after sale, would be placed back on the tax rolls. Carson Quarles made a motion to approve the County's request for an inducement resolution. Charlie Saul seconded and the motion passed by a unanimous vote. Bill Branch made a comment that he was concerned that this consolidation of offices would result in an increase in County staff. Elmer Hodge noted that County had reduced total staff by 18 positions last year. Staff levels generally related to the public services requested by the public. Ed Natt advised the Authority that Richfield's request for final bond approval was removed from the agenda. Richfield is investigating the feasibility of having bonds for their retirement building issued through the City of Salem's Authority to avoid a conflict with Roanoke County because of requirements arising from interipretations of the Internal Revenue Code. Valley TechPark Tim Gubala commented about the concept of development, schedule and preliminary budget for the development of Valley TechPark as included in the agenda. He introduced Brian Duncan, Assistant Director of Economic Development. Brian gave an overview of current staff efforts to complete preliminary plans for roads, utilities, and stormwater for Valley TechPark. At 9:30 a.m. , upon motion of Carson Quarles, seconded by Bill Branch, the Authority went into Executive Session pursuant to the 2 Code of. Virginia, Section 2.1-344 (A) (5) to consider the condition, acquisition or use of real property and under Section 2. 1-344 (A) (5) to discuss the location of prospective business or industry. The motion passed unanimously. At 9:34 a.m. , upon motion of Carson Quarles, seconded by Bill Branch, 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. Upon a motion by Bill Branch, seconded by Darnell Vinyard, the Authority voted to endorse the County Economic Development staff's efforts to negotiate with adjacent landowners on property issues and to develop a shell building proposal in response to a request from the Roanoke Valley Economic Development Partnership. The motion passed by unanimous vote. Ed Natt discussed restrictive covenants. Bill Branch wanted to know how these covenants would work with the County's Zoning Ordinance. Would there be conflicts? Ed explained that the covenants didn't replace zoning regulations. Covenants are intended to control the quality of Valley TechPark. Upon motion by Darnell Vinyard, seconded by Carson Quarles, the Authority voted to adopt the restrictive covenants with minor modifications in language to be made by the Authority's Counsel. The motion passed unanimously. Brian Duncan presented the real estate commission policy. Bill Branch and Carson Quarles noted that the commissions should be higher and proposed a commission schedule to read as follows: Less than 5 acres sold 5% 5-15 acres 4% More than 15 acres 3% Upon motion of Billy Branch, seconded by Carson Quarles, the real estate commission policy was approved by a unanimous vote. Ed Natt reminded the Authority that the Valley TechPark project might require special meetings to handle options and contracts regarding property. There was a consensus from the Authority members that they would like to assist with this project. Ed Natt reported that Sawyer and Company was the qualified low- bidder selected to perform the Authority's audit. The audit was proceeding as scheduled. Tim Gubala reported that money had been transferred from the County to the Authority to pay a tax bill of $1,423 . 15 for five weeks of. 1992 . 3 Ed Natt recommended that the Authority established a separate bank account to receive monies anticipated for Valley TechPark. A two signature system utilizing the Chairman or Vice Chairman, and the Secretary or Counsel was recommended. Tim Gubala reminded the Authority members to complete their real estate disclosure statements and return same to him for filing with the Clerk of the Board of Supervisors. There being no other business, the Authority adjourned at 10 a.m. Respec fully submitted, I tAAlk" \HAl 1A) " Timothy W. Gubala, Secretary 4 AT A REGULAR MEETING OF THE INDUSTRIAL DEVELOPMENT AUTHORITY OF ROANOKE COUNTY, VIRGINIA, HELD AT THE ROANOKE COUNTY ADMINISTRATION CENTER ON DECEMBER 14, 1992. Resolution certifying Executive Meeting was held in conformity with the Code of Virginia Whereas, the Industrial Development Authority of Roanoke County, Virginia has convened an executive meeting on this date pursuant to an affirmative recorded vote and in accordance with the provisions of the Virginia Freedom of information Act; and Whereas, Section 2 . 1-344.1 of the Code of Virginia requires a certification by the Industrial Development Authority of Roanoke County, Virginia, that such executive meeting was conducted in conformity with Virginia law. NOW, THEREFORE, BE IT RESOLVED, that the Industrial Development Authority of Roanoke County, Virginia, hereby certifies that, to the best of each members knowledge: . 1. Only public business matters lawfully exempted from open meeting requirements by Virginia law were discussed in the executive meeting which this certification resolution applies, and 2 . Only such public business matters as were identified in the motion convening the executive meeting were heard, discussed or considered by the Industrial Development Authority of Roanoke County, Virginia. f On motion of Carson Quarles and carried by the following recorded vote: AYES: Charles Saul, Bill Branch, Wayne Dunman, Ron Martin, Carson Quarles, Darnell Vinyard, Tim Gubala, Ed Natt. NAYS: None ABSENT:, Rick Cranwell A Copy Teste: Timot y W. G ala, Secretary Industrial Development Authority of Roanoke County, Virginia