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HomeMy WebLinkAbout6/4/2003 - Minutes Minutes of Industrial Development Authority of Roanoke County LOAM June 4,2003 MEMBERS PRESENT: GUESTS: Steve Musselwhite, Vice-Chairman Rebecca Owens Carole Brackman Jill Loope Craig Sharp • Cap Robinson MEMBERS ABSENT: Ed Natt, Counsel Bill Branch Doug Chittum, Secretary-Treasurer Linwood Windley Neil Gallagher Prior to the meeting being called to order, Doug Chittum briefed those in attendance on the Valley Gateway shell building that has been under contract for several months. The contract closing date will most likely be within thirty days and not in September as previously indicated. He noted the Greater Roanoke Development Foundation had been very accommodating in working with the County staff. Doug Chittum informed the Board members that Novozymes recently purchased three businesses and has accelerated their plans for expansion. He noted this is a very good company for Roanoke County. Treasurer's Report Rebecca Owens was present to give the Treasurer's Report to the IDA members through the month of May. She noted the revenues and expenditures and asked if there was discussion of any particular line item expenditure. There has been no significant activity in the IDA account. She also noted that an account had been established for Integrity Windows, Inc. and that certain budgeted items would be carried over into the 2003-2004 budget year. Steve Musselwhite called the meeting to order at 10:20 a.m. Carole Brackman moved to approve the minutes of the April 2, 2003 meeting. Craig Sharp seconded the motion that carried by unanimous voice vote. New Business Doug Chittum updated the board members on the Fink's Jewelers, Inc. project relocating to Route 419 in Roanoke County from downtown Roanoke. He noted the decision to leave downtown Roanoke was made by Fink's Corporate Headquarters and it was the firm's desire to be in a safer, more prominent location which will be beneficial for the company. He noted that he had received very few negative comments regarding the move to Fink's Jeweler's from downtown. Most response from the community has been very positive. North Cross School has had concerns as to what type of businesses might be constructed close to them and they seem especially pleased about the proposed Fink's relocation to that area. - 6 There is no public water or sewer on the proposed site and it is estimated to cost approximately$300,000 in order to prepare the site for construction, noting drainage problems and VDOT's required road improvements to Route 419. Normally, under the County's Public Private Partnership funding, only one year backing is given to prospective retail companies seeking to locate in Roanoke County. In Fink's case, $75,000 a year in new local taxes will be generated. And, Fink's will also be providing public infrastructure to surrounding tracts of land in addition to the site they have chosen for their headquarters that will make the remaining property readily available for future construction. The cost to run water and sewer to Fink's proposed site is estimated to be $150,000. The Board of Supervisors approved a two-year incentive for the project. Cap Robinson moved to approve authorization for the IDA Chairman to execute a Performance Agreement with Fink's Jewelers,Inc. Carole Brackman seconded the motion that carried by unanimous voice vote. Ed Natt discussed an administrative matter regarding Integrity Windows, Inc. An approval is needed by the IDA to release a lien it holds on the shell building property (land) so that a storm drainage easement can be granted to the County by the current or subsequent owners of the shell building. He noted that the three current property owners would sign an agreement so that VDOT can do what is required for road improvements. Craig Sharp moved to approve the authorization for the IDA Vice Chairman's signature on legal documents releasing a lien as it pertains to the proposed drainage easement to be located on the shell building property. Carole Brackman seconded the motion that carried by unanimous voice vote. Cap Robinson moved to approve the budget as presented by Rebecca Owens earlier in the meeting. Motion was seconded by Carole Brackman that carried by unanimous voice vote. Old Business None There being no further business,the meeting was adjourned at 10:44 AM. Respectfully submitted: E. Douglas hittum Secretary-Treasurer Next Scheduled Meeting: July 2,2003 - 0 2