Economic Development Authority of the City of Richmond
Board Meeting Minutes
June 3, 2010
Members present:
Ms. Jane Ferrara, Executive Director
Mr. Richard Johnson, Chair
Ms. Anne Greever, Vice-chair
Mr. Kelvin Hanson
Mr. Dennis Ryan
Ms. Greta Harris
Mr. Bill Hardy
Others present:
Mr. Alan Reese, A.G. Reese and Associates
Ms. Bonnie Ashley, City Attorneys Office
Mr. Mark Ellison, Economic Development Authority
I. Call to Order
Mr. Johnson called the meeting to order at 4:22 p.m. in the Board Room on the eighth floor of the AdvanTech building at 501 E. Franklin Street. Introductions of new Board Members in attendance, Ms. Greta Harris and Mr. Bill Hardy, were made as well as background information shared from both new members.
II. Public Hearing
There was no public comment.
III. Approval of Minutes of the Previous Meeting
Ms. Greever moved that the Board approve the minutes from the April meeting, held May 4, as presented in the Board Packet. Mr. Hardy seconded the motion, which carried unanimously.
IV. Unfinished Business
A.Update on EDA Revolving Loan Fund Closeout: Mr. Johnson asked Mr. Reese to settle the remaining funds in the account and submit a check for the remaining balance to Ms. Ashley for return to the Federal EDA. Mr. Johnson then instructed Ms. Ashley to coordinate the return of funds to the Federal EDA upon acknowledgement that this action would finalize this matter and remove the issue from the Board Agenda.
B.Status of CARE and Extra CARE loan program: This matter is still with the City.
V. Financial Overview
Mr. Reeses review of accounts assured the Board that all accounts were running smoothly. Reese and Associates has continued entering loan payments.
VI. Report of the Officers
Report of the Chairman: Mr. Johnson addressed the 7th and 17th CARE and Extra CARE loan program funds and stated to the Board that he will be able to better address this matter after a meeting on June 15 with Peter Chapman to discuss the loan program.
Report of the Secretary: Ms. Ferrara reported that four projects are currently underway including Cephas Industries and Crossland which were both voted on by the Authority.
Ms. Ferrara updated the Board on the Charrette being put on by Mayor Jones and Bon Secours. The results will be a foundation for the writing of a Choice Neighborhood Grant. Ms. Ferrara invited all members of the Board to attend and participate.
Ms. Ferrara shared with the Board that Palmer Gosnell has made a trip to Richmond to meet with city planners to discuss a development agreement for the 2nd and Marshall lot, owned by the EDA. Dino Brazianos of the Department of Economic and Community Development and leaders of the Convention Center had a productive meeting with Palmer Gosnell. Mr. Johnson asked that she continue to be kept the Board up-to-date with the status of this project.
Ms. Ferrara told the Board that an underwriter and Senior Loan Administrator will be hired by the Department of Economic and Community Development in order to get loan programs up and running effectively.
Ms. Ferrara announced that the City has executed a contract with the National Council to work with the EDA on various projects.
VII. Committee Reports
No Committee Reports were presented except via minutes of their meetings.
VIII. New Business
A.Check Signing Authority: Mr. Johnson asked Ms. Ashley and Mr. Reese to define terms of Mr. Reeses check signing authority.
B.Cobb Technologies Copier Agreement and Paetec Telephone Agreement: Upon motion of Mr. Ryan, seconded by Ms. Greever, the Board unanimously approved contracts with both Cobb Technologies and Paetec subject to review and contract approval by Board Counsel, Ms. Bonnie Ashley. Mr. Ellison was asked to work with Ms. Ashley to produce contracts and present them to Mr. Johnson for his signature.
C.Election of New Officers: Ms. Greever nominated Mr. Johnson to serve as Chair to the Board. Mr. Johnson nominated Ms. Greever to serve as Vice-chair. By order of the Bylaws, Mr. Hardy was selected as Treasurer and Ms. Ferrara as Secretary.
Ms. Greever moved that the Board elect the nominees. Mr. Ryan seconded the motion, which carried unanimously.
IX. Adjournment
Ms. Greever moved to adjourn the meeting at 6:38 p.m., Motion seconded by Mr. Ryan and carried unanimously.