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HomeMy WebLinkAbout4/2/2003 - Minutes Minutes of Industrial Development Authority of Roanoke County 10:00 AM April 2, 2003 • MEMBERS PRESENT: GUESTS: Bill Branch, Chairman Beth Doughty* • Steve Musselwhite, Vice-Chairman John Williamson* Carole Brackman. Elmer Hodge Neil Gallagher Paul Mahoney Craig Sharp Rosemary Trussell Linwood Windley Ed Natt, Counsel MEMBER ABSENT: Doug Chittum, Secretary-Treasurer Allan Robinson *Representing the Greater Roanoke Valley Development Foundation Chairman Bill Branch called the meeting to order at 10:05 AM in the conference room of the Roanoke County Administration Building. A motion to approve the minutes of January 8, 2003 and February 19, 2003 was made by Steve Musselwhite and seconded by Craig Sharp-'and approved with a unanimous voice vote New Business Doug Chittum updated the board members on the progress Novozymes Biologicals has made H to_date._. e presented Novozyines'request that the additional 13 acres for'Phase 2 of their development be conveyed-to them by the Industrial_Development Authority per Performance-Agreement dated November 29, 2001._ A-motion_was made by Steve _- Musselwhite authorizing the execution of the deed and modification agreement and othef "documents that may be required to convey this property to Novozymes. Neil Gallagher seconded the-'notion and-it was approved-bq a unanimous voice vote. ,: Doug Chittum opened discussion of Integrity Windows and Doors and the land purchase contract currently held by Roanoke County. After Doug answered questions from the board members, Carole Bradman made the motion to approve the assignment of the.land purchase contract to Integrity Windows, Inc. The motion was seconded by Craig Sharp and approved with a unanimous voice vote. The issue of an industrial revenue bond lease agreement entered into in the 1970's with Mitchell Distributing, located in west Roanoke County, was brought up by Ed Natt. He wanted to let the board know that the bond was paid off in 1993, however,the bond trustee failed to notify all parties. During a refinancing process, failure to receive the deed was brought to the attention of Mitchell Distributing. They have requested the deed and Ed Natt is handling their request. Discussion of the Valley Gateway Shell Building and the Greater Roanoke Valley Development Foundation's request for a six month extension on repayment of a note due the County of Roanoke was opened by Doug Chittum. Doug reviewed the history of the Shell Building. Beth Doughty, Secretary-Treasurer, and John Williamson, board member, of the Greater Roanoke Development Foundation, informed the IDA that they have accepted a contract from an investment group that allows the potential buyer six months to close on the building. An earnest money deposit of$50,000 will be retained by the Foundation should the buyer terminate the contract after sixty days from the date of the contract. Should the buyer close on the building, the deposit is credited towards the sales price. They further explained the losses the Foundation has incurred over the years and asked the board's consideration to extend this note for an additional six months to coincide with the timing of the sales contract. Elmer Hodge, County Administrator, explained the Roanoke County Board of Supervisors' recommendation not to renew this note stating that the County needed the money for other County projects and board members did not feel it was in the best interest of the county to extend the note. Mr. Hodge suggested the IDA board members may want to meet with the Board of Supervisors for further discussion. Request for Closed Session pursuant to the 1950 Code of Virginia, Sec. 2.2-3711 (A.7), as amended, to discuss legal matters requiring the provision of legal advice by the County Attorney and briefings by staff pertaining to probable litigation, namely, collection of the debt owed by The Greater Roanoke Valley Development Foundation. Craig Sharp made a motion to go into Executive Session, Steve Musselwhite seconded, and the motion was passed by a unanimous voice vote. At this time,Neil Gallagher left the meeting. The board members entered into Executive Session at 10:55AM. Craig Sharp made the motion to return to open session at 11:18 AM and certified that only matters pertinent to the session were discussed. Linwood Windley seconded and the motion passed by unanimous voice vote. A motion was made by Craig Sharp to extend the note on the Shell Building provided the following conditions are met: 1. That the Purchaser under the existing Contract deposit in escrow, on or before May 20, 2003, the sum of$50,000.00 which represents its earnest money deposit. 2. That the Purchaser under said Contract has indicated that it is-not going to terminate the Contract but, rather, is going to proceed to closing on or before September 20, 2003. 3. That on or before May 25, 2003,the Foundation deliver the sum of $50,000.00 in good funds to the Industrial Development Authority. If the above items are accomplished,the Authority agrees to extend the due date under the Note to September 20, 2003. If the above conditions are not met, the entire sum of $260,440.50 shall be due and payable in accordance with the terms of the Note. The motion was seconded by Linwood Windley and passed with a unanimous voice vote. O1d_Business None 2 Treasurer's Report Ms. Trussell asked if everyone had received a copy of the 2001-2002 IDA Audit and suggested that they refer to page 8 listing outstanding incentive agreements. Rosemary Trussell handed out the IDA Revenues and Expenditures report for the period ending 3/31/03. There were no questions. There being no further business, the meeting was adjourned at 11:25 AM. Respectfully submitted: E. Douglas hittum Secretary-Treasurer Next Scheduled Meeting: May 7,2003 3 AT A REGULAR MEETING OF THE INDUSTRIAL DEVELOPMENT AUTHORITY OF ROANOKE COUNTY,VIRGINIA,HELD AT THE ROANOKE COUNTY ADMINISTRATION CENTER ON APRIL 2, 2003 RESOLUTION CERTIFYING CLOSED MEETING WAS HELD INCONFORMITY WITH THE CODE OF VIRGINIA WHEREAS, the Industrial Development Authority of Roanoke.County, Virginia has convened a closed meeting on this date pursuant to and in accordance with the Code of Virginia, • Section 2.2-3711(A.5)requiring a certification that such closed 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 member's knowledge: 1. Only public business matters lawfully exempted from open meeting requirements by Virginia law were discussed in the closed meeting which this certification resolution applies, and • 2. Only such public business matters as were identified in the motion convening the closed meeting were heard, discussed or considered by the Industrial Development Authority of Roanoke, Virginia. On motion of Craig Sharp to adopt the Certification Resolution for a Closed Meeting and carried by the following recorded vote: AYES: Bill Branch, Steve Musselwhite, Carole Brackman, Linwood Windley NAYS: None • ABSENT: Neil Gallagher, Allan Robinson A COPY TESTE: /04 e6L E. Douglas Chittum Secretary-Treasurer April 2, 2003 Staff requests the IDA to adopt a motion to enter into closed session within the provisions of the Virginia Freedom of Information Act as follows: (A) to discuss legal matters requiring the provision of legal advice by the County Attorney and briefings by staff pertaining to probable litigation in accordance with Section 2.2-3711 A 7 of the 1950 Code of Virginia,as amended,namely,collection of the debt owed by The Greater Roanoke Valley Development Foundation.