MINUTES OF THE REGULAR ANNUAL MEETING OF THE BOARD OF DIRECTORS OF THE ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF SUFFOLK SEPTEMBER 11, 2024 AT 4:00 P.M. AT THE SUFFOLK MUNICIPAL CENTER BUILDING, 442 WEST WASHINGTON STREET, CONFERENCE ROOM: 3 MEMBERS PRESENT Mary Snyder, Chair Wesley King, Vice-Chair Anthony Harper Chris Rice Simon Stevenson William Webb BJWillie, Secretary-Treasurer Karminal Lockwood MEMBERS ABSENT: STAFF PRESENT: Kevin Hughes, Deputy City Manager Deanna Trimyer, Assistant Director of Economic Development Terry Smith, Senior Business Development Manager Sheena Idlette, Economic Development Associate Charles Meek, Director of Finance Chris Briardy, Financial Reporting and Compliance Manager Darius Davenport, Crenshaw, Ware & Martin OTHERS PRESENT: CALL TO ORDER Ms. Snyder called ther meeting to order at 4:00p p.m. OLD BUSINESS Mr. King moved to approve an amendment to the published meeting agenda. The motion was seconded by Mr. Willie and carried thet following recorded vote: Ayes: Nays: Abstain: Motion Passed Harper, King, Rice, Snyder, Stevenson, Webb, Willie (7) None (0) None (0) Minutes. Mr. Webb moved to approve the minutes of the regular meeting of August 14, 2024. The motion was seconded by Mr. Willie and carried thef following recorded vote: Ayes: Nays: Abstain: Motion Passed Harper, King, Snyder, Stevenson, Webb, Willie (6) None (0) Rice (1) Board of Directors Meeting September 11, 2024 Page 2 Financial Report. Ms. Snyder acknowledgedi thei inclusion of thef financial reports for the period ending July 31,2024. Mr. Briardy shared with the Board the. July3 31, 2024 financial report was not complete, due toi the Finance Department preparing fort their annual audit. NEW BUSINESS Financel Liaison-Truist & TowneBank, Accounts Mr. Briardy briefed the Board ont the requestf for "Review Only" access to the EDA's online bank statements. Mr. Webb moved to approve A RESOLUTION OF THE ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF SUFFOLK TO AUTHORIZE A FINANCE LIAISON FOR TOWNEBANK, AND TRUIST ONLINE BANKING STATEMENTS. The motion was seconded by Mr. King and carried thef following recorded vote: Ayes: Nays: Abstain: Motion Passed Harper, King, Rice, Snyder, Stevenson, Webb, Willie (7) None (0) None (0) Small Business Improvement Grant-1400 Bridgeport Way Ste. 103 (Sojourn Fermentory)Mrs. Trimyer gave the Board an overview on Small Business Grant/ 1400 Bridgeport Way Ste. 103 (Sojourn Fermentory). Sojourn Fermentory was previously awarded a Small Business Improvement Grant in the amount of $10,000 but the deadline expired on the terms of completion. They are resubmitting their grant application. Mr. Rice moved to approve Small Business Grant (Sojourn Fermentory). A RESOLUTION OF THE ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF SUFFOLK TO AUTHORIZE THE AWARD OF A SMALL BUSINESS IMPROVEMENT GRANT TO SOJOURN FERMENTORY. The motion was seconded by Mr. Harper and carried thet following recorded vote. Ayes: Nays: Abstain: Motion Passed Harper, King, Rice, Snyder, Stevenson, Webb, Willie (7) None (0) None (0) Façade Grant Completion-181/1851 N. Main Street (Elliott Apartments) Mrs. Trimyer providedt the Board witha asummary oft the completion of thei façade grant previously approved byt the Board for 181/185 N. Main Street, Elliott Apartments. Small Business Improvement Grant Completion- 1330 Holland Road (Conner's Deli & Catering LLC) - Mrs. Trimyer provided the Board with as summary of the completion of the Small Business Improvement Grant previously approved 2024 Comprehensive Plan Update-EDA's Role -Mr. Hughes gave an overview of the EDA's role for the 2024 Hampton Roads Alliance Monthly Newsletter. Ms. Snyder presented the August 2024 Hampton Roads Alliance Suffolk Marketing Activity Report. Ms. Snyder presented the August 2024 Suffolk Marketing Activity Report. Downtown E-Newsletter. Ms. Snyder presented the September 2024 Downtown E-Newsletter. Suffolk E-Newsletter. Ms. Snyder presented the September 2024 Suffolk E-Newsletter. by the Board for 1330 Holland Road, Conner's Deli & Catering LLC. Comprehensive Plan. Hes stated the EDA plays a role through land sales and acquistions. Monthly Newsletter. Board of Directors Meeting September 11, 2024 Page 3 Motion for Closed Meeting. Mr. Rice moved to reconvene in a closed meeting for the purposes of "A discussion concerning ap prospective business ori industry or the expansion of an existing! business or industry where no previous announcement has been made of the business' or industry's interest in locating or expanding its facilities in the community" specifically concerning, Project Thor and Project Trident, pursuant to Virginia Code Section 2.2 -3711 (A)(5); "Adiscussion or consideration of acquisition ofr real property for aj public purpose, or of the disposition of publicly held real property, where discussioni ina an open meeting would adversely affect the bargaining position or negotiating strategy oft the Authority" specifically concerning, Suburban! Drive and Suffolk IndustrialF Park Project pursuantt tol Virginia Code Section 2.2-3711 (A)(3). Ther motion was seconded by Mr. Harper and carried thet following recorded vote. Ayes: Nays: Abstain: Motion Passed Harper, King, Rice, Snyder, Stevenson, Webb, Willie (7) None (0) None (0) AResolution of Certification of the Closed Meeting. Mr. Webb moved to approve a resolution of certification of the closed meeting of September 11, 2024, Pursuant to section 2.2.-3712 oft the Code of Virginia (1950), as amended. Thei motion was seconded by Mr. Harper and carried thei following recorded vote: Ayes: Nays: Abstain: Motion Passed Harper, King, Rice, Snyder, Stevenson, Webb, Willie (7) None (0) None (0) Mrs. Trimyer briefed the Board on several upcoming events which include Taste of Suffolk, Ribbon Cutting / Grand Ms. Snyder reminded the Board that the next meeting will be on Wednesday, October 9, 2024 at 4:00 p.m. at the Opening Event of Elliott Apartments, Downtown Progress Report. Suffolk Municipal Building, 442 West Washington Street, City Council Conference Room. Adjourn. There being no further business, the EDA meeting was adjourned by Ms. Snyder at 5:16p p.m. Approved: kd hphu Teste: B-IIE, Kevin 1kls 4