HomeMy WebLinkAbout9/27/1996 - Minutes Minutes of
Industrial Development Authority of Roanoke County
9 a.m.
September 27, 1996
Members Present: Other guests:
Bill Branch, Chairman Al Knighton
Carole Bradman
Guy Byrd
Rick Cranwell Members Absent:
Darnall Vinyard Ron Martin
Ed Natt, Counsel Carson Quarles, Vice Chairman
Tim Gubala, Secretary-Treasurer
Bill Branch called the meeting to order at 9:02 a.m. in the conference room of the Roanoke County Administration
Building and asked for approval of the minutes of the September 10, 1996 meeting. Upon a motion by Rick
Cranwell, seconded by Darnall Vinyard, the minutes of the September 10 meeting were approved unanimously.
Old Business -Richfield Retirement Community, Industrial Revenue Bond resolution
Ed Natt introduced Al Knighton who was representing Richfield Retirement Community. Al presented a
resolution authorizing the Authority to issue up to $4,500,000 of industrial revenue bonds for the consruction of
an Alzheimers Center. Guy Byrd asked several questions relating to the purpose of the bond,the current interest
rate and the use of IRB's by 501 (c)(3) organizations such as Richfield. Upon a motion by Darnall Vinyard,
seconded by Rick Cranwell,the Authority voted to approve the resolution by unanimous voice vote.
Old Business -Discussion of Authority/Board of Supervisors Agreement
Ed Natt reported that he and County Attorney Paul Mahoney had discussed the status of the proposed agreement.
Paul indicated that he would be meeting with County Administrator Elmer Hodge to clear up a few minor points.
Ed Asked the Authority to continue this matter to the October 8, 1996 meeting for action. Bill Branch stated that
he thought this agreement would clarify some of his questions. Bill asked that the Authority members each receive
a copy of the Code of Virginia sections that covered the roles and responsibilities of the Authority members. Ed
said that he would provide that information to the Authority members.
Tim Gubala informed the Authority that the Williamson Road project had been approved by the Board of
Supervisors and handed out copies of the project agreement. No applications have been received for mini-grants
at this time.
There being no further business,the Authority adjourned at 9:35 a.m. and agreed to meet at 10 a.m. on October
8, 1996, at the County Administration Building.
Respectfully submitted
VW-AlTimo y W. Gubala
Secretary-Treasurer