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Home My WebLink About8/16/2023 - Agendas A. CALL TO ORDER 1. Roll Call Chairman Windley B. REQUEST TO POSTPONE, ADD TO, OR CHANGE THE ORDER OF THE AGENDA ITEMS Chairman Windley C. APPROVAL OF JUNE 21, 2023 MINUTES Chairman Windley D. FINANCIAL REPORT 1. Financial Report through June 30, 2023 Jessica Beamer E. BRIEFINGS 1. Director’s Report F. NEW BUSINESS 1. Ordinance authorizing the execution of an amendment to the Economic Development Grant Agreement for fixed, wireless broadband service between Roanoke County and B2X Online (B2X) 2. Meeting Schedule Megan Baker Megan Baker G. CLOSED SESSION It is proposed that the Authority meet in closed session, pursuant to Section 2.2-3711(A)(5) of the Code of Virginia, for discussion concerning the expansion of an existing business or industry that is located in the County of Roanoke, where no previous announcement has been made of the business's or industry's interest in expanding its facility in the community. Specifically, this business expansion is anticipated to take place in the Cave Spring and Catawba Districts. Megan Baker H. WORK SESSION 1. Marketing Plan Interview Megan Baker I. REPORTS AND INQUIRIES OF BOARD MEMBERS Chairman Windley J. ADJOURNMENT Chairman Windley K. NEXT SCHEDULED MEETING September 20, 2023 AGENDA The Economic Development Authority of Roanoke County Wednesday, August 16, 2023 9:00 a.m. Roanoke County Administration Center The Economic Development Authority of Roanoke County Meeting Minutes Wednesday, June 21, 2023, the Economic Development Authority met at the Roanoke County Administration Center Members Present Woody Windley, Chair Michael Cagle, Vice Chair Barry Thompson Don Sowder Greg Apostolou Kirtesh Patel Ssunny Shaw Steven Anderson Megan Baker, Secretary-Treasurer Peter Lubek, Counsel Absent Kyle Richardson Guests Alexander Jones, Principal Planner, Roanoke County Karli Foster, Economic Development Specialist, Roanoke County Richard Caywood, County Administrator, Roanoke County CALL TO ORDER On motion by Ssunny Shaw, seconded by Barry Thompson, Chairman Woody Windley called the meeting to order at 9:00 am, the motion carried by a unanimous vote. ROLL CALL Megan Baker called the roll. APPROVAL OF MAY 24, 2023 MINUTES On motion by Michael Cagle to approve minutes of May 24, 2023, seconded by Ssunny Shaw, the motion carried by unanimous vote. FINANCE REPORT 1. Financial Report through May 31, 2023 Megan Baker reviewed the statements of revenues, expenditures, and changes in the fund balances ending May 31, 2023. The current available cash balance is $559,231. On motion by Barry Thompson to accept and approve the financial report as presented, seconded by Steven Anderson, the motion carried unanimously. BRIEFINGS 1. Director’s Report Megan Baker presented her major initiatives for the Department of Economic Development. These included targeted business recruitment, proactive outreach, business and community engagement, a strategic marketing plan, and incentive review. CLOSED SESSION On motion by Kirtesh Patel, and seconded by Steven Anderson, the present Authority Directors unanimously voted to meet in closed session, pursuant to Section 2.2-3711(A)(5) of the Code of Virginia, to discuss the expansion of two existing businesses or industries that are located in the County of Roanoke, where no previous announcement has been made of the business's or industry's interest in expanding its facilities in the community. Specifically, this business expansion is anticipated to take place in the Catawba Magisterial District. On motion by Ssunny Shaw to accept and seconded by Steven Anderson, the motion carried unanimously that pursuant to Section 2.2-3712(D) of the Code of Virginia, that in the closed session just concluded, nothing was discussed except the matter or matters which were identified in the motion to convene in closed session, and that only those matters lawfully permitted to be discussed under the Virginia Freedom of Information Act were discussed. On motion by Gregory Apostolou, seconded by Don Sowder, the Authority agreed to give Woody Windley, Chairman, the authority to sign the Purchase and Sale Agreement and rezoning application, the motion carried by a unanimous vote. REPORTS AND INQUIRIES OF THE BOARD MEMBERS Greg Apastolou updated the Board on various business topics including the apartments that have officially been torn down in the Hollins Magisterial District. Mr. Apastolou asked for an update on the Gish Mill revitalization in Vinton. Barry Thompson shared with the Board that Gish Mill is currently waiting on historical designations. He also shared an update on new Vinton businesses including that Pok-E-Joes is doing great and 107 South Pollard should be opening soon. Kirtesh Patel requested an update on the Starbucks in the Hollins Magisterial District. ADJOURNMENT On motion by Steven Anderson, and seconded by Ssunny Shaw, the meeting was adjourned at 9:53 a.m. NEXT SCHEDULED MEETING Megan Baker stated the next meeting would be July 19, 2023. Budget Actual Variance to Budget Revenues EDA Administration Investment Income 1,200$ 9,336$ 8,136$ Charges for Services 4,860 4,860 - Bondholders' Assessments 62,706 65,562 2,856 Total Operating Revenue 68,766 79,758 10,992 Expenditures EDA Administration Salary and Benefits 6,460 3,014 3,446 Professional Fees 3,425 3,425 - Other Insurance 1,728 1,728 - Total Operating Expenditures 11,613 8,167 3,446 Net change in fund balance attributable to operations: 57,153 71,591 14,438 Non-Operating Beginning Balance 581,611 - Unappropriated Balance (638,764) - Net Change in Fund Balanc -$ 71,591$ Current Cash Balanc 568,864$ Restricted by Roanoke County/Town of Vinton: Grant Funds (26,502) Deferred Revenue - Earnest Money held for Old Cave Spring Road (45,000) Other Adjustments: Broadband Funding Transfer from County (American Rescue Plan Act) 119,984 Accrued Payroll (646) Available Cash Balanc 616,700$ Revenu Investment Income Earned 785$ Expenditure Board Member Salaries 1,022$ Vinton Façade Grant 1,406$ Change in Use Incentive Grant 25,000$ Commercial Corridor Matching Grant 96$ Mack Truck 80,131$ Waukeshaw (Billy Byrd)53,439$ Old School Partners (Roland E Cook) 22,619$ Vinyard Station 85,869$ Vindos LLC 50,000$ Cox Communications 144,392$ COUNTY OF ROANOKE, VIRGINIA Economic Development Authority of Roanoke County, Virginia Statement of Revenues, Expenditures, and Changes in Fund Balances (Unaudited) For the 12 months ended June 30, 2023 PRELIMINARY Broadband Projects - American Rescue Plan Act (ARPA) Incentive Agreement Activity - Pass Through Amount Remaining Grant Detail Cash Balance Detail Operating Activity Since Last Reported Period AMENDMENT TO ECONOMIC DEVELOPMENT GRANT AGREEMENT FIXED WIRELESS BROADBAND SERVICE – ROANOKE COUNTY / B2X ONLINE, INC. ROANOKE COUNTY, VIRGINIA (the “County”), a political subdivision of the Commonwealth of Virginia, the ECONOMIC DEVELOPMENT AUTHORITY OF ROANOKE COUNTY, VIRGINIA (the “Authority”), a political subdivision of the Commonwealth of Virginia, and B2X ONLINE, INC. (“B2X”), a Virginia stock corporation, entered into an Agreement dated September 22, 2022, for the purpose of providing grant funding from the Virginia Telecommunications Initiative (“VATI”) and the Virginia Department of Housing and Community Development (“DHCD”) to B2X in an effort to expand and improve broadband services to the citizens of Roanoke County, Virginia. Subsequent to that 2022 Agreement, B2X has identified a method by which it can enhance the services to be offered to citizens , and the parties wish to amend the 2022 Agreement to reflect certain changes in the project. Such changes are set forth below and shall memorialize the first Amendment to the September 22, 2022 VATI broadband expansion agreement among the parties. WHEREAS, during the course of the B2X broadband expansion that is the subject of the 2021 VATI application and subsequent 2022 VATI award, B2X has identified an opportunity to provide service to an additional fifty passings not originally identified. Such passings are in the Bent Mountain area (Windsor Hills Magisterial District) and are not served by any other internet service provider; and WHEREAS, B2X identified different sites for location of towers and equipment than those outlined in its original proposal, which is attached hereto as Exhibit 1; and WHEREAS, the location of the equipment and additional passings is depicted on the attached Exhibit 2, which shall be incorporated by reference herein; and WHEREAS, the changes in the location of equipment and the ability to serve additional customers has caused the overall price of the pending project to increase; and WHEREAS, B2X has proposed sharing the excess cost of $56,131, with the County to pay $34,131 of such total and B2X to bear the remaining cost of $22,000, and the County has agreed to this cost-sharing; and WHEREAS, Carl Caudill, Broadband Project Manager for DHCD, has reviewed the B2X proposal to amend the Sepember 22, 2022 Agreement and does not object to this Amendment. This Amendment shall not affect any other terms or conditions of the September 22, 2022 VATI Agreement among the parties. ROANOKE COUNTY, VIRGINIA: Richard L. Caywood, P.E. County Administrator Approved as to legal form: Peter S. Lubeck County Attorney ECONOMIC DEVELOPMENT AUTHORITY OF ROANOKE COUNTY, VIRGINIA: Linwood P. Windley Chairman B2X ONLINE, INC.: Warren Kane President/CEO