Economic Development Authority of the City of Richmond, Virginia
Board Meeting
April 30, 2009
Members present:
Richard Johnson, Chair
Anne Gordon Greever, Vice-chair
Helen Alli
Kelvin Hanson
Tonya Scott-Hickman
Others present:
Betty-Anne Teter, Department of Economic Development
Brendan Williamson, Department of Economic Development
Bonnie Ashley, Assistant City Attorney
Alan Reese, Reese and Associates
Sandra McNinch, Virginia Economic Development Partnership
David Saunders, Madison and Main Advertising + New Media
Ben McDearmon, Economic Development Authority
I. Call to Order
Mr. Johnson called the meeting to order at 4:11 pm in the boardroom on the eighth floor of the AdvanTech building at 501 E. Franklin Street.
II. Public Comment
No members of the public were present.
III. Approval of the Minutes of the Previous Meeting
Ms. Greever moved that the Board approve the minutes from the March Board meeting as drafted. Mr. Hanson seconded the motion, which carried unanimously.
IV. Presentation by Sandra McNinch, General Counsel for Virginia Economic Development Partnership
Ms. McNinchs presentation discussed VEDPs mission and the role of the Authority within VEDPs efforts to attract and retain businesses in the Commonwealth of Virginia.
Ms. Scott-Hickman entered the meeting at 4:32 pm.
Ms. McNinch exited the meeting at 4:44 pm.
V. Unfinished Business
A. EDA Staffing: The Board discussed the process by which the Authority would review candidates for both the Loan Manager and Building Manager positions. The decision to advertise and hire for these positions had previously been approved by the Board.
Mr. Saunders entered the meeting at 4:51 pm.
B. Proposal for Website Upgrades and Internet Marketing, Madison and Main: Mr. Saunders discussed the proposal from his firm to make changes and improvements to the AdvanTech website and to implement an internet search engine optimization marketing campaign. The proposal had been circulated to Board members at the previous months meeting. The final decision on the contract was deferred to Executive Session.
Mr. Saunders exited the meeting at 5:20 pm.
The Board went into closed session at 5:23 pm to discuss Mr. Saunders proposal and to make a decision whether to hire Madison and Main to perform the proposed work.
The Board came out of closed session at 5:58. Mr. Johnson read the Certification of Closed Meeting and circulated it for Board members signatures.
Ms. Greever moved that the Board act on the recommendation by the Incubator Committee to accept the proposal from Madison and Main. Ms. Scott-Hickman seconded the motion, which carried 3-2, with Ms. Alli and Mr. Hanson opposed.
Ms. Greever moved that the Board authorize Mr. McDearmon to execute the agreement on behalf of the Authority. Ms. Scott-Hickman seconded the motion, which carried 4-1, with Ms. Alli opposed.
Ms. Alli moved that the Board approve an advertising budget not to exceed $1,000 total for listing both the Loan Manager and Building Manager positions. Mr. Hanson seconded the motion, which carried unanimously.
C. CARE and Extra CARE Cooperation Agreements: The Board delegated Ms. Alli to contact the Citys Acting Chief Administrative Officer to inquire about the status of the outstanding agreements for FY 2008 and FY 2009.
Mr. Currin entered the meeting at 6:31 pm.
D. Update on Federal EDA Revolving Loan Fund Termination: Mr. Currin reported that he had spoken with the Economic Development Administrations Regional Director, in which the termination of the project was confirmed.
Ms. Greever moved that the Board take the following steps: 1) vote to accept the termination decision by the Administration since the program had been unilaterally terminated and since the appeal process did not seem practical; and 2) authorize and instruct Mr. Reese to prepare whatever is necessary in his reasonable business judgment and, with the help of Mr. Currin or his staff as needed, to engage in talks with the Administration to find out what is needed to close out the account, and to give a monthly report on his progress. The motion failed due to lack of a second.
Ms. Scott-Hickman moved that the Board accept the termination of the project without taking further steps to authorize Mr. Reese to act on behalf of the Board in discussions with the Administration. Ms. Greever seconded the motion, which carried 3-2 with Ms. Alli and Mr. Hanson opposed.
Ms. Greever moved that the Board authorize Mr. Reese to contact the Administration and work out a closeout of the fund, but that any agreement or disbursement of funds would require additional Board approval. Ms. Scott-Hickman seconded the motion, which carried unanimously.
Mr. Johnson stated that he would draft a letter the next day as a follow up to the Authoritys last letter, dated April 17, which would explain that the Board had taken action to authorize Mr. Reese to handle the closeout procedures.
VI. Financial Overview
Mr. Reese stated that he and the Finance Committee met with the auditors the previous week and that a cleanup of the financial statements following the auditors suggestions could be made for the May Board meeting. Mr. Reese distributed a draft loan activity report covering the months of January through March 2009. Mr. Reese suggested that the next step for the loan program would be to contact delinquent borrowers.
VII. New Business
Ms. Ashley recommended that the Board go into Executive Session to discuss a legal matter regarding collection of a delinquent loan.
The Board went into closed session at 7:19 pm.
The Board came out of closed session at 7:26 pm. Mr. Johnson read the Certification of Closed Meeting and circulated it for Board members signatures.
Ms. Alli moved to authorize Ms. Ashley to enter into a settlement with Effective Business Services for the amount of $1,300. Ms. Scott-Hickman seconded the motion, which carried unanimously.
VIII. Report of the Officers
A. Report of the Chairman: Mr. Johnson reported that he had worked on efforts previously covered, including staffing and the termination of the Federal Revolving Loan Fund. He had also attended another meeting of the Mayors real estate task force, but no particular action was taken at that meeting. Mr. Johnson noted that he would be out of town during the real estate groups May meeting, and he delegated Mr. Hanson to attend in his place as the Authoritys representative.
B. Report of the Secretary: Mr. Currin left a written report of his activities for the month, all of which had been covered previously. He also noted that there may be a potential bond deal which could involve the Authority, but that there were no details available at that time.
IX. Committee Reports
All of the months committee meeting minutes were adopted as the official reports of those committees in the interest of saving time.
X. Announcements
Ms. Scott-Hickman asked when the Board needed to elect new officers. Ms. Ashley referred to the by-laws, which stated that officers are to be elected at the January Board meeting each year. Mr. Johnson instructed Mr. McDearmon to place the issue on the Agenda for the May Board meeting and to advise him on the nominating process in advance of that meeting.
Ms. Greever reported that she had received an electronic copy of a draft of the Urban Land Institutes report from the 2nd and Marshall Technical Assistance Panel, and that the final version was still not available. Ms. Greever stated that she would forward the draft report to all Board members.
XI. Adjournment
The meeting was adjourned at 7:36 pm.