HomeMy WebLinkAbout5/8/2020 - 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 in the Council Chambers, 114 North Broad Street, on May 8, 2020 at 12:00 p.m. The
following members of the Authority were present: Cindy Shelor, C. Wayne Adkins, Dave
Robbins, David Thornhill, Macel Janoschka and William Q. Mongan. Rob Robinson was
absent. There, also present was James E. Taliaferro, II, City Manager, Melinda Payne, Director
of Economic Development, Steve Yost, City Attorney and Crystal L. Williams, Assistant to
the City Manager and Secretary to the EDA.
The Chair called the meeting to order at 9:00 a.m. This electronic meeting is being held
in accordance with a Resolution of the EDA of the city of Salem Virginia dated April 30, 2020,
adopting procedures for electronic meetings to ensure the continuity of government during the
COVID-19 pandemic.
The first item of was to approve the minutes from the April 30, 2020 meeting.
Motion: Adkins
Second: Janoschka
All aye
The second item was to consider what the City can do to assist our businesses. Mr.
Taliaferro turned the meeting over the Mr. Yost to discuss the open loan agreement the EDA has
with the West Salem Body Shop, LLC. Mr. Yost stated that currently the developer does not have a
firm ask to defer their regular monthly payments, but it is possible they may later. The City is
currently working with two other developers’ projects, 2 West Main, LLC and Dev Om, LLC.
They too could be considered for this same option. At this time neither of these developers have
closed their loans. For the current loan, a modification agreement could be done with an extension
to the repayment timeframe and reflecting how the payment extension would be made. A
discussion was held, and a motion was made for to consider a three-month deferment, with an
option for the EDA to extend for West Salem Body, LLC, as well as for the potential loans for 2
West Main, LLC and Dev Om, LLC. In doing so, a modification agreement would be brought
before the EDA and Council to negotiate the request.
Motion: Thornhill
Second: Janoschka
All aye
Mr. Taliaferro stated as far as business retention and assistance there is not a lot of
consistency across the state/ He asked if they had interest in putting into place some sort of loan or
grant program?
The Chair asked if the city had reached out to businesses to get a pulse on what was
happening with businesses?
Ms. Payne stated the Knitting Coop was on CBS expressing her difficulties, she has a call
into her. Charlotte’s Web has secured funding under the SBA, and Glenn Angelle was able to get
his final payment from the city. As for the overall climate, what some businesses are losing
Walmart, Kroger and Lowe’s is picking up. In the manufacturing area, Integer is hiring, Graham
White is doing well. Yokohama is the only business struggling. She has been in contact with
Annette Lewis at Total Action for Progress and they have a program they are offering to
businesses. A discussion was held, and it was decided to get an idea on what TAP is doing before
making any decisions. Ms. Payne stated she would reach out and get the info to Mr. Taliaferro.
There being no further business the meeting adjourned.