MEETING. AGENDA MONDAY,JULY: 29, 2024 ROOM: 229; 2:00 P.M.  EÇONOMIC DEVELOPMENT AUTHORITY OF BOTETOURT COUNTY, VIRGINIA  57SOUTHCENTER DRIVE, DALEVILLE, VA: 24083  1. Call to Order 2. Public Comment  3. Approval of March 7, 2024. and March: 15. 2024. Minutes  Financial Report:  Bank! Statements Ending June 30,2 2024 Financial Statements as of June: 30, 2024 Transfer of VCCS Annual Rent to County for BTEC Welding Lab Reimbursement #2 e. Viasat Memorandum of Lease Agreement  d. Request to Transfer GO Virginia Grant Funds to Botetourt County Education Foundation  5. Virginia Telecommunications Initiative (VATI) Updates  6. Motion to go into closed session to discuss the acquisition and disposition of real property for purposes ofe economic development, in the Amsterdam district (including Greenfield) and' Valley districts where discussion in an open meeting would adversely affect the Authority's bargaining position or negotiating strategy, pursuant to Section 2.2-3711 (A)( (3) of the Code of Virginia of 1950, as amended. 7 Motion to go into closed session to discuss prospective businesses or industries or the expansion of existing businesses or industries, ini the Amsterdam (including Greenfield) and Valley districts where no previous announcement has been made of the businesses' or industries' interest in locating or expanding facilities in the community, pursuant to Section 2.2-3711 (A) (5) of the Code of Virginia of 1950, as 8. Motion tos go into closed session to discuss thei investment of public funds where competition or bargaining is involved, int the Amsterdam (including Greenfield), Fincastle, and' Valley districts, where discussion in an open meeting would adversely affect the Authority's financial interest, pursuant to  amended.  Section 2.2-3711 (A)(6) of the Code of Virginia of 1950, as amended.  Convene in Closed Session  10. Return to open session and adopt the following resolution by roll call or other recorded vote: BEI IT RESOLVED, it is certified that toi the best of each Authority member's knowledge only public business matters lawfully exempt from open meeting requirements and only such matters as were identified in the motions to goi into closed session were heard, discussed, or considered during the  closed session.  11. Action Items / Old & New Business- ncluding FY24 Small Business Grants Update    12. Adjournment - Next Regular Meeting is scheduled for August 16, 2024    A meeting oft the Botetourt County Economic Development Authority was held on" Thursday, March7, 2024, at 2:00  p.m. at the Botetourt County Administration Center at Greenfield in Room: 229.  Members Present:  Mr.John Kilby - Chairman Mr. David Bryan Mr.Jeff Emry  Mrs. Mary Bess Smith Mr.John Alderson Mr.Lynk Hayth(remote)  Members Absent: Others In Attendance:  Mr.JohnGriffin - Vice Chairman  Mr. Gary Larrowe Mr. David Moorman (remote) Mr. Ken McFadyen  Mr. Mike Lockaby Mr. Luke Campbell Ms. Kim Stewart  Call to Order and Public Comment  Mr. Kilby called the meeting to order and asked if anyone would like to make public comment. Hearing none, he  moved to the approval of meeting minutes of February: 16, 2024. Approval of Meeting Minutes of February16.2024  Mr. Kilby askedi if everyone had reviewed the minutes from the February 16, 2024. meeting. With alli int favor, the  minutes were approved. AYES: NAYES: ABSENT: Closed Session  Mr. Kilby, Mr. Hayth, Mr. Emry, Mr. Bryan, Mr. Alderson, Mrs. Smith  None Mr. Griffin  ABSTAINING: None  Mr. Kilby then called for a motion to go into Closed Session:  Motion to goi into closed session to discuss the acquisition and disposition of real property for purposes of economic development, ini the Amsterdam district (including Greenfield) where discussion in an open meeting would adversely affect the Authority's bargaining position or negotiating strategy, pursuant to Section 2.2-3711 (A)(3) Motion to go into closed session to discuss prospective businesses ori industries or the expansion of existing businesses ori industries, in the Amsterdam (including Greenfield) districts where no previous announcement has been made of the businesses' or industries' interest inl locating or expanding facilities in the community, pursuant to Motion to go into closed session to discuss thei investment of public funds where competition or bargaining is involved, in the Amsterdam (including Greenfield) and' Valley district, where discussion in an open meeting would adversely affect the. Authority's financial interest, pursuant to Section. 2.2-3711 (A)(6) of the Code of Virginia of 1950, Mrs. Smith made the motion and Mr. Emry seconded. And with all in favor and none opposed, the motion carried.  of the Code of Virginia of 1950, as amended.  Section 2.2-3711 (A)(5) of the Code of Virginia of 1950, as amended.  as amended.  AYES:  Mr. Kilby, Mr. Hayth, Mr. Emry, Mr. Bryan, Mr. Alderson, Mrs. Smith  1    NAYES: ABSENT:  None Mr. Griffin  ABSTAINING: None  Return to Open Session Mr. Kilby read the following resolution:  BE IT RESOLVED, iti is certified that toi the best of each Authority member's knowledge, only public business matters lawfully exempt from open meeting requirements and only such matters as were identified ini the motions to goi into Mr. Kilby called for a motion the Authority return to open session. Mrs. Smith made the motion and Mr. Emry  Closed Session were heard, discussed, or considered during the Closed Session.  seconded. The EDA then returned to Open Session with Roll Call:  AYES: NAYES: ABSENT:  Mr. Kilby, Mr. Hayth, Mr. Emry, Mr. Bryan, Mr. Alderson, Mrs. Smith  None Mr. Griffin  ABSTAINING: None  Mr. Kilby then called for a motion to allow Mr. Hayth to participate in the meeting remotely. Mrs. Smith made the  motion, seconded by Mr. Emry, and with all in favor the motion passed.  AYES: NAYES: ABSENT: Closed Session  Mr. Kilby, Mr. Hayth, Mr. Emry. Mr. Bryan, Mr. Alderson, Mrs. Smith  None Mr. Griffin  ABSTAINING None  Mr. Kilby then called for a motion to go backi into Closed Session:  Motion tos goi into closed session to discuss the acquisition and disposition ofr real property for purposes of economic development, int the Amsterdam district (including Greenfield) where discussion in an open meeting would adversely affect the Authority's bargaining position or negotiating strategy, pursuant to Section 2.2-3711 (A)(3) Motion to goi into closed session to discuss prospective businesses or industries or the expansion of existing businesses or industries, int the Amsterdam (including Greenfield) and' Valley districts where no previous announcement has been made of the businesses' or industries' interest in locating or expanding facilities in the communty.Pursuant to Section 2.2-3711 (A)( (5) of the Code of Virginia of 1950, as amended. Motion to goi into closed session to discuss the investment of public funds where competition or bargaining is involved, ini the Amsterdam (including Greenfield) and' Valley districts, where discussion in an open meeting would adversely affect the Authority's financial interest, pursuant to Section: 2.2-3711 (A)(6) of the Code of Virginia of 1950, Mrs. Smith made the motion and Mr. Bryan seconded. And with alli in favor and none opposed, the motion carried.  oft the Code of Virginia of 1950, as amended.  as amended.  AYES: NAYES: ABSENT:  Mr. Kilby, Mr. Hayth, Mr. Emry, Mr. Bryan, Mr.. Alderson, Mrs. Smith  None Mr. Griffin  ABSTAINING: None  2    Return to Open Session Mr. Kilby read the following resolution:  BE ITI RESOLVED, iti is certified that to the! best of each. Authority member's knowledge, only public business matters lawfully exempt from open meeting requirements and only such matters as were identified ini the motions to go into Mr. Kilby called for a motion the. Authority return to open session. Mrs. Smith made the motion and Mr. Emry  Closed Session were heard, discussed, or considered during the Closed Session.  seconded. The EDA thenr returned to Open Session with Roll Call:  AYES: NAYES: ABSENT:  Mr. Kilby, Mr. Hayth, Mr. Emry, Mr. Bryan, Mr. Alderson, Mrs. Smith  None Mr. Griffin  ABSTAINING: None  Resolution Authorizing Quitclaim of Certain Rights to the Economic Development Authority of Botetourt County, Mr. McFadyen explained that at the last Board of Supervisors meeting, the Board approved a resolution stating interest in a piece of property owned by the Virginia Department of Transportation, should the Commonwealth and VDOT declare itt tol be surplus, andi that the Board would take and transfer ownership of the property to the Economic Development. Authority. The! property directly north of this loti is the property with the water tank that the EDAI received title to fromi the Board of Supervisors in December 2023. The EDA will then take the resolution witha letter stating interest in this piece of land, should' VDOT ever declare it surplus and wish to dispose ofit.  Virginia  Adiournment adjourned. AYES: NAYES: ABSENT:  Hearing no further questions or comments and having no other business presented, Mr. Kilby called for a motion to adjourn. Mr. Emry made the motion, which was seconded by Mrs. Smith, and with all in favor, the meeting was  Mr. Kilby, Mr. Hayth, Mr. Emry, Mr. Bryan, Mr. Alderson, Mrs. Smith  None Mr. Griffin  ABSTAINING: None  Mr. Kilby then reopened the meeting and called it to order.  Mr. Kilby called for a motion to accept the resolution approving and authorizing execution of al limited liability company operating agreement. Mr. Alderson motioned and Mr. Emry seconded, and with all in favor, the resolution  was accepted. The meeting was then re-adjourned.  AYES: NAYES: ABSENT:  Mr. Kilby, Mr. Hayth, Mr. Emry. Mr. Bryan, Mr. Alderson, Mrs. Smith  None Mr. Griffin  ABSTAINING: None  3    Ameeting of the Botetourt County Economic Development Authority was held on Friday, March 15, 2024, at 2:00  p.m. at the Botetourt County Administration Center at Greenfield in Room 229.  Members Present:  Mr. John Kilby- - Chairman Mr.. John Griffin - Vice Chairman Mr.. Jeff Emry Mr.John Alderson Mr. Gary Larrowe Dr. Mac Scothorn Mr. Ken McFadyen Mr. David Moorman  Mr. Lyn Hayth Mr. David Bryan Mrs. Mary Bess Smith  Members Absent: Others In Attendance:  Mr. MikeLockaby Mr. Luke Campbell (remotely) Ms. Kim Stewart  Call to Order and Public Comment  Mr. Kilby called the meeting to order and asked if anyone would like to make public comment. Hearing none, he  moved toi the consideration of financial statements. Consideration of Financial Statements for February 2024  Thel EDA reviewed the bank statement and financial statements for February 2024. Mr. Kilby called for a motion the bank: statement andi financial statements be approved and Mrs. Smith made the motion. Mr. Griffin seconded, and  with all in favor, the motion passed.  AYES: NAYES: ABSENT:  Mr. Kilby, Mr. Hayth, Mr. Emry, Mr. Bryan, Mr. Griffin, Mrs. Smith  None Mr. Alderson  ABSTAINING: None  Consideration of Rodefer Moss Pre-Audit Services for Fiscal Year Ending June 30.2024  Mr. McFadyen reminded the Authority that they have worked with Mary Earhart fori the last couple ofy years, who had her own accounting business. Her business has merged with Rodefer Moss & Co., PLLC, and they have sent their letter of engagement fori this upcoming fiscal year for pre-auditing work. The new firm's fees arel higher than Mrs. Earhart's were but also the preparation work that is required fort the audit is probably also responsible for the increase. Mr. Kilby called fora a motioni the EDA approve the pre-audit services letter of engagement and Mrs. Smith  made the motion. Mr. Emry seconded, and with all in favor, the motion passed.  AYES: NAYES: ABSENT:  Mr. Kilby, Mr. Hayth, Mr. Emry. Mr. Bryan, Mr. Griffin, Mrs. Smith  None Mr. Alderson  ABSTAINING: None  Update for Bookkeeping Services REP  Mrs. Smith provided an update on behalf of the Audit Committee to let the EDAI know that Campbell & Lineberry was chosen fort the new bookkeeping/auditing firm based on cost and ability to provide all the services necessary for and requested by the EDA. Mr. Kilby then called for a motion that Campbell & Lineberry be appointed as the bookkeeping service for the EDA. Mr. Bryan motioned: and Mr. Griffin: seconded. With alli ini favor and none opposed,  the motion passed.  1    AYES: NAYES: ABSENT:  Mr. Kilby, Mr. Hayth, Mr. Emry, Mr. Bryan, Mr. Griffin, Mrs. Smith  None Mr. Alderson  ABSTAINING: None  Committee Recommendation for Banking and Investment Services  Mr. Kilby said that five banks responded to the RFP. The proposals were rated on a weighted scale based on several factors including each bank's capabilities and experience with a governmental entity, their proposed interest rates and fees, and their understanding of the mission and needs of the EDA. AlL the banks are backed by the FDIC and the Commonwealth of Virginia with the pledging of their assets. Bank of Botetourt scored the highest ont the scoring and the recommendation oft the committee is to move the EDA's accounts to the Bank of Botetourt. The motion came from the audit committee, seconded by Mr. Bryan. Mr. Hayth and Mrs. Smith abstained from voting. All others were in approval with none opposed and so the motion passed. Mr. Hayth also stated fori the record that hel had no  participation in any oft the RFP process.  AYES: NAYES: ABSENT:  Mr. Kilby, Mr. Emry, Mr. Bryan, Mr. Griffin  None Mr. Alderson  ABSTAINING: Mr. Hayth, Mrs. Smith  Greenfield! Lot3 3Streams and Wetlands Impact - "Permittee Responsible Mitigation (PRM)" Alternative Mr. McFadyen explained that there are no stream or wetland credits available in the watershed Greenfieldis located int to allow for Lot 3t to be mass graded. The EDA's engineering firm Dewberry hasi identified the company RES, who provides Permittee Responsible Mitigation (PRM).". After many conversations with the Department of Environmental Quality and Dewberry, staff believes RES, as a consultant, could provide an alternative to purchasing stream and wetlands credits. It would involve the EDA creating their own mitigation site. Thei initial feei to create the concept plan is $177,000. Staff will need to work on thati in terms oft the budget for the current Business Ready Sites Program grant and alsoi to see where we are: with the upcoming BRSP grant where the cost for stream and wetlands mitigation is located int the grant wel have requested but have not yet received. Mr. McFadyen said that this proposal from RES for $177,000 to prepare a concept plani is good for 60 days fromi the date of the proposal, which was received this week. Staff will come back in April with morei information and a recommendation. Mr. McFadyen reminded the EDA that VisionFirst Advisors visited in December 2023t to conduct a market study on Lot 3 and the market study isi important for environmental quality permitting. The market study will bep part oft the permittee responsible mitigation alternative for the stream and wetlands credits. VFAI has provided the draft of the market study for staffs review and the market study will be closed out by the end oft this month. He stated that if the EDA would bei interested in VFA presenting the market study virtually at the next meeting, that it can! be  Update onl Lot 3Market Study  arranged. Closed Session  Mr. Kilby then called for a motion to goi into Closed Session:  Motion to goi into closed session to discuss the acquisition and disposition of real property for purposes of economic development, ini the Amsterdam (including Greenfield). and' Valley districts where discussion in an open meeting would adversely affect the Authority's bargaining position or negotiating strategy, pursuant to! Section2.2-  3711 (A)(3) of the Code of Virginia of 1950, as amended.  2    Motion to goi into closed session to discuss prospective businesses or industries or the expansion of existing businesses or industries, int the Amsterdam (including Greenfield): and' Valley districts where no previous announcement has been made of the businesses' or industries' interest in locating or expanding facilities int the community, pursuant to Section. 2.2-3711 (A) (5) of the Code of Virginia of 1950, as amended. Motion to go into closed session to discuss the investment of public funds where competition or bargainingi is involved, int the Amsterdam (including Greenfield) and' Valley districts, where discussion in an open meeting would adversely affect the Authority's financial interest, pursuant to Section 2.2-3711 (A) (6) of the Code of Virginia of 1950, Mr. Griffin made the motion and Mr. Hayth seconded. And with all ini favor and none opposed, the motion carried.  as amended.  AYES: NAYES: ABSENT:  Mr. Kilby, Mr. Hayth, Mr. Emry, Mr. Bryan, Mr. Griffin, Mrs. Smith  None Mr. Alderson  ABSTAINING: None  Return to Open Session Mr. Kilby read the following resolution:  BEI IT RESOLVED, it is certified that tot the best of each. Authority member's knowledge, only public business matters lawfully exempt from open meeting requirements and only such matters as were identified in the motions to goi into  Closed Session were heard, discussed, or considered during the Closed Session.  The EDA then returned to Open Session with Roll Call:  AYES: NAYES: ABSENT: Adiournment  Mr. Kilby, Mr. Hayth, Mr. Emry, Mr. Bryan, Mr. Griffin, Mrs. Smith  None Mr. Alderson  ABSTAINING: None  Hearing no further questions or comments and having no other business presented, Mr. Kilby called for a motion to adjourn. Mr. Hayth motioned, which was seconded by Mr. Griffin, and with all in favor, the meeting was adjourned.  AYES: NAYES: ABSENT:  Mr. Kilby, Mr. Hayth, Mr. Emry, Mr. Bryan, Mr. Griffin, Mrs. Smith  None Mr. Alderson  ABSTAINING: None  3