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HomeMy WebLinkAbout12/10/2020 - Economic Development (EDA) - Minutes - SpecialMINUTES OF A SPECIAL MEETING OF THE ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF SALEM, VIRGINIA A meeting of the Economic Development Authority of the City of Salem, Virginia, was held at City Hall in Council Chambers on December 10, 2020 at 8:30 a.m. The following members of the Authority were present: Cindy Shelor (remote participation), Wayne Adkins, Macel Janoschka, Dave Robbins (remote participation), Rob Robinson, Quinn Mongan (remote participation) and David Thornhill. There, also present was James Taliaferro, City Manager, Rob Light, Assistant City Manager, Rosie Jordan, Director of Finance, Sidney Kuzmich, Deputy Commissioner and Mike Lockaby, Guynn, Waddell, Carroll & Lockaby, P.C. The meeting was called to order at 8:33 a.m. Mr. Lockaby stated we have some members that would be participating remotely, which is allowable by the state code and local policy should a medical or personal issue arise, if approved by the Board. A motion was made to allow the following members to participate electronically; Cindy Shelor (personal), Quinn Mongan (medical) and Dave Robbins (medical). Motion: Thornhill; Second: Janoschka All aye The Chair called for a motion to approve minutes from the November 17, 2020 meeting. Motion: Adkins; Second: Robbins All aye A motion was made to convene in Closed Session pursuant to Section 2.2-3711A (39), to consider proprietary information provided by business applicants for grants under the COVID-19 Disaster Grants for Small Businesses Program in that such proprietary information was voluntarily provided by such applicants pursuant to a promise of confidentiality to be considered by the EDA in making monetary grants to foster business retention in the City of Salem. Motion: Robinson; Second: Adkins All aye The EDA reconvened at 9:06 a.m. in accordance with Section 2.2-3712D of the Code of Virginia, 1950 as amended to date, the EDA hereby certified that in Closed Session only items lawfully exempted from open meeting requirements under the Virginia Freedom of Information Act and only such items identified in the motion by which the Closed Session was convened were heard, discussed, or considered by the EDA. Motion: Robinson; Second: Robbins All aye A motion was made to award the following non-profit organizations grants to be designated specifically for the citizens of Salem to assist with needs related to food, clothing, necessities, and childcare: Salem/Roanoke County Food Pantry $10,000; Salem Area Ecumenical Ministries $7,000; Salem Family YMCA $5,000; Feeding Southwest Virginia $6,000; College Lutheran Church $5,000; Salem Rotary Club Foundation $6,000; Family Promise $6,000; St. Paul’s Episcopal Church $5,000; and Bethel Baptist $5,000. Motion: Robbins; Second: Thornhill All aye A motion was made to move the remaining $45,000 in grant funds, previously set aside for non- profits to be redesignated for the Small Business Assistance program for the for-profit businesses. Motion: Mongan; Second: Adkins All aye Mr. Lockaby reviewed the documents related to the request to extend the maturity date for the loan on the EDA loan on the Valleydale building with Indiana Street, LLC. The current loan is scheduled to mature on January 31, 2021 and the request is to extend it to January 31, 2022. The three parties to the current agreement are the City of Salem EDA, Indiana Street, LLC, and Ed Walker, as Mr. Walker gave a personal guarantee. A motion was made to approve the extension, authorize the Chair to sign the documents on behalf of the EDA and to authorize a substitution of trustee from Steve Yost to Mike Lockaby. Motion: Robbins; Second: Adkins Aye: Adkins, Janoschka, Mongan, Robbins, Robinson and Shelor Abstain: Thornhill A motion was made to approve the Performance Agreement extension for the Parkway Brewing Company, LLC for a 15-month period. This is the maximum period allow by the state. Motion: Mongan; Second: Robbins All aye Mr. Lockaby gave an update on the Oak Park Apartments. The requested bond documents will be redeemed on January 15, 2020, releasing the debt off our books. Per the contract they can do so. There being no further business the meeting adjourned.