MADISON COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY  Date: Location:  6:00PM - Thursday, May 9, 2024 Admin. Building Auditorium, 414 N. Main Street  Atal regular meeting ofthe Industrial Development Authority on Thursday, May 9th at 6:00PM  in the Admin. Building Auditorium:  PRESENT:  Pete Elliott, Chairman Douglas Parsons, Secretary/Ireasurer Paul Utz, Director William Hale, Director Steve Hoffman, Director Mike Snider, Director Hannon Wright, County Attorney  Tracey Gardner, Economic Development & Tourism Director Kimberly Turner, Executive Administrative Assistant/ Deputy Clerk  ABSENT:  Steve Grayson, Director  Jonathon Weakley, County Administrator  ROLL CALL/DETERMINE PRESENCE OF A QUORUMIADOPTION OF AGENDA Chairman Elliott stated he would like to start with the Pledge of Allegiance and a moment of  Chairman Elliott called the Board to order.  silence.  Chairman Elliott advised that a quorum was present.  Director Snider made a motion to approve the agenda, seconded by Director Utz. Aye: Elliott, Parsons, Utz, Hale, Hoffman, and Snider. Nay: (0) Abstain: (0). Absent: Grayson. MINUTES OF PREVIOUS MEETING READ AND ACTION THERON  1. Approve Minutes from March 30, 2023  Director Hale made a motion to approve the minutes from March 30, 2023, seconded by Director Snider. Aye: Elliott, Parsons, Utz, Hale, Hoffman, and. Snider. Nay: (0) Abstain: (0). Absent:  Grayson. None.  REPORT OF THE CHAIRMAN    UNFINISHED BUSINESS  2. Review of] Revalation Vineyards Final AFID Performance Agreement  The Economic Development & Tourism Director briefed the IDA members on the Revalation Vineyards Final AFID Performance Agreement. Director Gardner reported that the agreement and the new tasting room construction are completed. There was consensus from all IDA members to approve the final agreement and disperse the funds to Revalation. It was agreed that Douglas Parsons, Secretary/Ireasurer ofthe IDA, would coordinate with a local bank to establish checking account SO funds to Relevation could flow from Madison County Treasurer's office, through the IDA, and then to Relevation. It was agreed by all IDA members, IDA counsel, and the IDA bylaws that Doug Parsons has the authority to sign for this financial  transaction. NEW BUSINESS  3. Review Extension to the Existing Hidden Pines Meat Processing LLC AFID Performance The Economic Development & Tourism Director reviewed the Extension to the Existing Hidden Pines Meat Processing LLC. AFID Performance Agreement. There was discussion among IDA members on the economic metrics contained in the performance agreement, the limited availability ofcontractors to construct the new building, and the real potential for new jobs to be created at Hidden Pines Meat Processing. It was agreed that Douglas Parsons, Secretary/Ireasurer of the IDA, would coordinate with al local bank to establish checking account SO funds to Hidden Pines could flow from Madison County Treasurer's office, through the IDA, and then to Hidden Pines. It was agreed by all IDA members, IDA counsel, and the IDA bylaws that Doug Parsons has the authority to sign for this financial transaction. Director Hoffman made a motion to approve the extension to the existing Hidden Pines Meat Processing LLC. AFID Performance Agreement, seconded by Director Hale. Aye: Elliott, Parsons, Utz, Hale, Hoffman, and Snider. Nay: (0). Abstain: (0). Absent: Grayson.  Agreement  INFORMATION/CORRESPONDENCE 1. Annual June Meeting  The Executive Administrative Assistant/ Deputy Clerk referenced the IDA bylaws from 1984 and encouraged the IDA to discuss the bylaws and the annual June meeting. The IDA members discussed with counsel about updating the bylaws, and all members agreed that it would be useful to update the bylaws. Counsel asked for comments on the bylaws from IDA members by June 1, 2024. Counsel would then be able to present a draft oft the revised bylaws to the IDA at the June meeting. Director Parsons made a motion to schedule the annual June meeting for the second Monday in June, seconded by Director Snider. Aye: Elliott, Parsons, Utz, Hale,  Hoffman, and Snider. Nay: (0). Abstain: (0). Absent: Grayson.  ADJOURN  2    With there being no further business to conduct, Director Utz made ai motion to adjourn, seconded by Director Snider. Aye: Elliott, Parsons, Utz, Hale, Hoffman, and Snider. Nay: (0)  Abstain: (0). Absent: Grayson. Respectfullys submitted,  Douglas  Secretary/Treasurer  Es  3