Economic Development Authority of the City of Richmond
Board Meeting Minutes
November 18, 2010
Members present:
Ms. Anne Greever, Vice-chair
Mr. Dennis Ryan
Mr. Kelvin Hanson
Others present:
Ms. Jane Ferrara, Executive Director
Mr. Alan Reese, A.G. Reese and Associates
Mr. Haskell Brown, City Attorney’s Office
Ms. Justine Roberts, Department of Economic and Community Development
Mr. Mark Ellison, Economic Development Authority
I. Call to Order
Ms. Greever called the meeting to order at 4:09 p.m. in the Board Room on the eighth floor of the AdvanTech building at 501 E. Franklin Street.
II. Public Comment
There was no public comment.
III. Minutes of the Previous Meeting
Approval of the Minutes from the October Board meeting was deferred until the December Board meeting because of the lack of a quorum.
IV. Unfinished Business
A. Update on EDA Revolving Loan Fund Closeout
Mr. Haskell reported, on Ms. Bonnie Ashley’s behalf, that Ms. Ashley is waiting on confirmation from the Federal EDA that all disputed issues are now resolved.
B. Status of CARE and Extra CARE loan program
Ms. Ferrara noted that Ms. Ashley and Ms. Denise Lawus were working together on this item. They hope to introduce this matter to City Council in December. A public hearing will be held on January 24th at the earliest.
V. Financial Overview
Mr. Reese reviewed the financial reports and told the Board that all accounts were running smoothly. Reese and Associates has continued entering loan payments until notice from Mr. Ron Johnson with the DECD. Mr. Reese also told the Board that adjustments to the financials will be made in January.
VI. Report of the Officers
A. Report of the Chairman
No report was given.
B. Report of the Secretary
Ms. Ferrara explained that Gosnell-Palmer, the development group chosen by the Board to enter into a development agreement to build a hotel at 2nd and Marshall Streets, is not presently ready to move forward with the project. Her department has made numerous efforts to get the project underway, without success. Ms. Greever said that the Development Committee would meet to discuss next steps for the project and would report its recommendations to the Board.
Ms. Ferrara invited Ms. Justine Roberts, of the Department of Economic and Community Development, to attend the Board meeting to share several examples of how other cities’ EDAs and economic development departments have jointly created websites to market themselves to the public. Of the Board members present, all were in favor of moving forward with the combined website concept.
Ms. Ferrara told the Board that the Shockoe Bottom Phase 1 charette was complete. The next phase will be the development panel. The study is planned for completion in the first quarter of next year.
VII. Committee Reports
A. Executive Committee - Did not meet in November.
B. Development Committee - Did not meet in November.
C. Finance Committee - Committee report presented via minutes.
D. Incubator Committee - Did not meet in November.
VIII. New Business
There was no new business.
IX. Executive Session
There was no Executive Session.
X. Adjournment
The meeting was adjourned at 4:58 p.m.