HomeMy WebLinkAbout11/6/2003 - Minutes 1 f
Minutes
The Industrial Development Authority
Thursday, November 6, 2003, 10:00 AM
MEMBERS PRESENT GUESTS
Bill Branch, Chairman Elizabeth Atkinson, Roanoke County Finance
Carole Brackman Jill Loope, Roanoke County Economic Development
Neil Gallagher Randall Robinson, Virginia Baptist Homes-"The Glebe"
Craig Sharp
Linwood Windley MEMBERS ABSENT
Ed Natt, Counsel Steve Musselwhite
Doug Chittum, Secretary-Treasurer Allan "Cap" Robinson
Terrie Cochran
Bill Branch, Chairman called the meeting to order at 10:05 A.M.
Moved to approve the minutes as of the October 2, 2003 meeting. After general discussion the
minutes was filed and received.
Treasurer's Report
Elizabeth Atkinson, Roanoke County Finance Analyst presented the Treasurer's Report through
the month of October 31, 2003 and the Industrial Development Authority budget for the Year
ending June 30, 2004. Robinson-Farmer-Cox will be sending a final draft of the audit by the
weekending November 14, 2003. After general discussion the audit was filed and received.
Old Business
Doug Chittum gave an update on Cardinal Glass. The Town of Vinton and Roanoke County will
share in the new revenue from Cardinal Glass. Roanoke County will gain 20-25 percent in tax
revenue; the Town of Vinton will gain 70-75 percent. Upon the completion of the Performance
Agreement Doug requested the Board to give the Chairman authority to sign the Performance
Agreement for Cardinal Glass, Linwood Windley made the motion to authorize Chairman to sign
the Performance Agreement between Cardinal Glass, Roanoke County, The Town of Vinton
and The Roanoke County Industrial Development Authority upon approval from Ed Natt,
Counsel, seconded by Neil Gallagher, carried by unanimous voice vote.
Doug Chittum briefed the board on the Lowes Performance Agreement. The County
Administrator now is asking for an amendment to the Lowes Performance Agreement due to the
facility not complying with the intent of the agreement. Due to "Contractor Error" only two sides
of the building will be split face block instead of all four sides as required ih the original
agreement. The Chairman was given authority to sign the Performance Agreement at the
October 2, 2003 meeting. (Attachment: Performance Agreement).
Doug Chittum gave an update on the Hampton Property. The Industrial Development Authority
has a contract with Owens Realty and the owner of the property Jane Hampton. Contract is for
$500,000.00. On October 21, 2003 a check was written to Owens Realty in the amount of
$5000.00 to secure the purchase of the land, and set a closing date as of December 1, 2003.
The purchase of this property will cost The Industrial Development Authority $260,000.00, the
reminder $240,000.00 will be paid by Roanoke County. The land will be used for a buffer with
possible development. After discussion from Craig Sharp on environmental and soil borings
issues, a motion was made by Neil Gallagher to purchase the land upon Roanoke County
appropriating sufficient funds for soil borings, seconded by Craig Sharp, carried by unanimous
voice vote.
Craig Sharp made a motion to table the discussion of By-Laws until all board members
reviewed, seconded by Carole Brackman, carried by unanimous voice vote.
New Business
A Public Hearing was convened with Mr. Randall Robinson representing Virginia Baptist
Homes-"The Glebe", concerning an Industrial Development Bond application for Glebe. After
receiving questions from Board Members, Chairman, Mr. Bill Branch asked if there were any
comments from the Public. Hearing none the Public Hearing was closed. After the reading of
the resolution a motion was made by Neil Gallagher to accept the resolution as read, subject to
a letter from Diane Hyatt, Chief Financial Officer, seconded by Carole Brackman, carried by
unanimous voice vote. (Attachments: Resolution, Public Hearing Notification from Bond Counsel
issuance of the Virginia Baptist Homes IDA bonds through Roanoke County IDA, letter from
County of Roanoke, Chief Financial Officer, Diane D. Hyatt, CPA)
Craig Sharp gave an update on the Capital Improvement Plan Committee; Craig is representing
the Industrial Development Authority throughout this process. Several projects being discussed
that will effect economic development are the Stormwater Management and Road Improvement _
Plans. To determine priority, projects will be based on a on a point system 1-10. Craig will
report back to Industrial Development Authority as to the progress of this committee.
Oath of Office
As of November 6, 2003 all Industrial Development Authority Board members are current on
their Oath of Office. (Attachment)
Being no further business, the meeting was adjourned at 11:20 A.M.
Respectfully,
E. Douglas Chittum
Secretary-Treasurer
Next Scheduled Meeting: Wednesday, December 3, 2003