Economic Development Authority of the City of Richmond, VA
Board Meeting
July 30, 2009
Members present:
Mr. Richard S. Johnson, Chair
Ms. Anne Gordon Greever, Vice-chair
Mr. Dennis Ryan
Ms. Helen T. Alli
Others present:
Ms. Dara Glass, Department of Economic Development
Ms. Betty-Anne Teter, Department of Economic Development
Mr. Alan Reese, Reese & Associates
Mr. Kevin Brown, Economic Development Authority
Mr. Karl Holsten, City Attorneys Office
Mr. Mark A. Ellison, Economic Development Authority
I.Call to Order
The Executive Board Committee meeting was called to order at 4:04pm in the 8th Floor Conference Room of the Advantech building at 501 E. Franklin Street.
II.Public Comment
No public comment.
III.Approval of Minutes of the Previous Meeting
Motion to approve with corrections from Ms. All then seconded by Mr. Ryan.
IV.Unfinished Business
A.Update on the EDA Revolving Loan Fund Close Out
B.Status of CARE, Extra CARE and EZIL loan Program
Ms. Alli asked for a decision on collections. The process is moving slowly and asked to discuss chain of command with loans. Ms. Greever asked Mr. Brown to please follow-up with Ms. Ashley to get started on collections.
C.RFQ 2nd and Marshall
Ms. Greever asked for a report from Ms. Teter on the RFQ preparation process. Ms. Teter had prepared a draft and was ready to move forward with advertising and mailing the RFQ to potential developers. Ms. Greever moved that the Board authorize the RFQ as proposed by the Development committee. Mr. Ryan Seconded and the Board approved the motion/
V.Financial Overview
Mr. Reese discussed the loan account information as well as the overall budget. Mr. Reese commented that we were waiting for 7th and 17th. Mr. Reese shared with the board that we are in line with the fiscal budget.
VI.Reports of the Officers
A.Report of the Chairman
•Mr. Johnson stated that the previous approved $7,500 expense account for incubator business will not be on the budget. Mr. Johnson also added that the Board should set-up a meeting with the new Deputy Administrator.
B.Report of the Secretary
•Ms. Glass was asked by Mr. Currin to see if the Board would permit a full presentation to the Board. Ms. Greever stated that this would disrupt the RFQ process and potentially allow a specific developer an advantage.
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VII.Advantech Operations Report
Mr. Ellison shared with the board that 4 new tenants have been added to the rent roll.
VIII.Committee Reports
A.Executive Committee
•No report other than minutes of meetings.
B.Development Committee
C.Finance Committee
D.Incubator Committee
E.Loan Committee
•Mr. Brown would like to be reimbursed for business related mileage expense.
IX.New Business
Board approved Sharon Dabney-Woolridge as a Voting Director or Atmore Corporation.
X.Executive Session
No executive session held.
XI.Announcements
No announcements.
XII.Adjournment
Meeting Adjourned at 5:03pm.