REDERICKSBURG ECONOMIC DEVELOPMENT AUTHORITY 706 Caroline Street Fredericksburg, VA 22401  (540)372-1216 (540)372-6587 Fax  ECONOMIC DEVELOPMENT AUTHORITY (EDA) MINUTES  September 4, 2024 8:00: a.m. o Special Meeting Executive Plaza 601 Caroline! St., Third Floor Fredericksburg, VA 22401  Thel Economic Development Authority oft the City ofF Fredericksburg, Virginia meti in special session on' Wednesday, September 4, 2024 beginning at 8:00 a.m. at the Executive Plaza, 601 Caroline St., Third Floor. EDA MEMBERS. PRESEN7. Beth Black Chair, presiding. Suzy Stone, Mitzi Brown, Meredith Schatz, Kevin  Hughes, Joel Griffin (8:02am) and Anita Crossfield.  ABSENT. None.  ALSO. PRESEN7. Fredericksburg Advance: Adele Uphaus; Hyperbole: John Simms; Member of the Public: Jackie Embrey; EDA Counsel: Jackson Key; Department of Economic Development and' Tourism: Josh Summits, Director; MCI Morris, Assistant Director ofTourism; Amy Peregoy, Economic Development  Manager.  DETERMIMATIONOFE QUORUM. Anita Crossfield.  AGENDA.  MOTION by Suzy Stone, seconded by Mitzi Brown, the agenda was approved: Ayes (6); Nays (0); Absent  from Meeting (1-Griffin). PUBLICCOMMENIS. None.  OLD. BUSINESS. Data Center Feasibility Study Discussion. Chair Black presented ai request to discuss the EDA's desire to fund al Dominion Energy Load Study to determine the overall feasibility for providing sufficient electrical capacity to support potential data center development at select parcels in Celebrate Virginia South. A load study by Dominion! Energy is defined as' "studies that provide information on typical load profiles for specific classes of customers." Thej profiles are based on annual load research and can helpe energy suppliers with their preparation. Supporting this study is the same sort oft thing thel EDA did many years ago when the City pitched to be thel home ofthe VAI Hospital. Becauset the job oft thel board ist to assist as needed ini the promotion and expansion of economic growth opportunities within the City of Fredericksburg. This is within the EDA board's purview and should be considered. In order to fund the study, she recommended reallocating funds tot the Opportunity Fund as follows: $61,600 from thel InvestFXBG budget, which leaves funds in the line item, $30,000: from the Grant budget, which leaves money ini thel linei item, and cash in one CD worth $50,000. Combined with the current balance int the  line item, it would cover the cost oft the study.  Mr. Hughes was called upon to explain thei infrastructure and use of data centers.    Page 20 of2  EDA Meeting - September 4, 2024  MOTION by Suzy Stone, seconded by. Joel Griffin to move $61,600 from the InvestFXBG linei item, $30,000 from the grant linei item and $50,000: from one CD to the Opportunity Fund. The money in the fund, now totaling $225,000, would be allocated to support new large development opportunities, including working ADJOURMMENT: There being no further business to come before the Economic Development Authority at this  with Dominion Energy for al load study: Ayes (7); Nays (0). time, Chair Black declared the meeting officially adjourned at 8:05a a.m.  EEE Anita Crossfield, Secretary