Mnasglelbanglsad Economic DevelopmentAuthonty The Economic Development Authority held a regular meeting on Friday, October 11, 2024, at 1:00 p.m. in the Council Hall, Town Municipal Building, 215 East Main Street, Bedford, VA 24523. Board members present: Michelle Crumpacker Board members absent: Mr. Jonathan Buttram, Chairman; Mr. David Sensenig, Vice-Chairman; Mr. Kevin Turner; and Mrs. Mrs. Liz Brown; Ms. Lynn Scott; and Mr. Ryan Kirkpatrick Staff present: Ms. Mary Zirkle, Director of Planning and Community Development; and Ms. Cathy Johnson, Administrative Assistant Staff absent: Mrs. Anne Cantrell, Director of Finance Other absent: (via Zoom) Meeting Called to Order: Mr. Theodore Craddock of Caskie & Frost, Attorney of Record for Economic Development Authority The Chair called the meeting to order. There was a quorum present for conducting business. The Clerk gave the roll-call: Mr. Turner Ms. Scott Mr. Kirkpatrick Mrs. Brown Mrs. Crumpacker Present Mr. Sensenig Mr. Buttram Present Absent Absent Absent Present Present Approval of Minutes: Mr. Sensenig made ai motion to approve the. August 9, 2024, minutes and Mrs. Crumpacker seconded. The motion carricd 4-0 to approve the minutes as prescnted. 10/11/241 EDAI Minutes - Page 1 of4 Remarks by Chairman and Members: Mr. Buttram gave an update on Winoa. He wanted to start referring to it as the Workforce Development Center until an official name is given for the project. He turned the floor over to Ms. Zirkle to continue the update. Ms. Zirkle gave more details about the project moving forward. She stated that two grants are underway and the facility will be available to show. She stated there is a grant to clean the facility. A North Carolina company very familiar with the type of cleaning was awarded and will start cleaning January 6, 2025. There is a 5-6-week window to meet the Brownfield grant until the March deadline. She referenced the letter from Creative Economic Development Consulting that she handed out before the meeting. She was excited to partner with the consultant team to help to complete a feasibility and facility master plan for the regional metal workforce training center located in the former Winoa facility. She stated that the letter includes the scope of work and terms and provides a signature line ifacceptable by the Town. She mentioned that Bedford County, CVCC, Virginia Tech, and others will join the Town on the advisory team. Mr. Buttram and Ms. Zirkle gave updates on matters regarding the facility's maintenance and security. Reports from Town Staff: Ms. Zirkle gave the finançial report on behalf of Mrs. Cantrell and stated that the Equity in Pooled Cash is $306,622.77. The Authority reviewed the Year-to-Date Budget report and the Balance Sheet as of August 2024. Ms. Zirkle explained that the Winoa acquisition cleared, about the shared pool interest income, and the meal taxes are up, which was higher than budgeted. Mr. Buttram stated that the objective is not to spend big money until funds come in. There was a brief discussion to upgrade the rail spur and Next, Ms. Zirkle advised the Authority that action was needed to adopt the budget amendment to reflect funds carryovers. She stated that Mrs. Cantrell will take it to Town Council in December for official appropriation. Ms. Zirkle stated that the revised budget includes the $20,000 for the outside agency grant. She stated that the total amendment is $484,616 to account for the rollovers and revised appropriations. The Chair asked for a motion to accept the FY2025 Economic Development Authority Adopted and Revised Budget as presented. Mr. Sensenig made a motion to approve the revised budget and Mr. Turner about the status with Hunter Allen. seconded. The Chair asked for a roll call vote and the motion passed 4-0 as follows: Mr. Turner Ms. Scott Mr. Kirkpatrick Mrs. Brown Mrs. Crumpacker Mr. Sensenig Mr. Buttram Aye Absent Absent Absent Aye Aye Aye Lastly, Ms. Zirkle announced that Town Council reappointed Mr. Sensenig and Ms. Scott for: new terms ending 2028. 10/11/24 EDAI Minutes- - Page 2of4 Reports from Attorney: None. Incentive Applications and Requests - Quarterly: 842 Ole Turnpike Road (Department ofCorrections Office) Real Property: Ole Turnpike, LLC, developer of 842 Ole Turnpike Road, made real property improvements to construct a new office building for the Virginia Department ofCorrections. The applicant applied to request an incentive for aj portion ofe eligible work, specifically fori the site work done for grading for utilities, including stormwater management. This project will also be able to apply for the DHCD Enterprise Zone funds for new construction next year. The request is under the Enterprise Zone incentive with the 5% rebate as the project is outside of the Downtown area. The minimum expenditure of $15,000 in eligible expenses was met and work exceeded the $100,000 maximum. Receipts andj proofofpayment: totaled $149,010. The5 5%incentive on the current expenditures would be $5,000 based on reaching the cap. Mr. Turner made a motion to grant $5,000.00 and Mrs. Crumpacker seconded. The Chair asked for a roll call vote: Mr. Turner Ms. Scott Mr. Kirkpatrick Mrs. Brown Mrs. Crumpacker Mr. Sensenig Mr. Buttram Aye Absent Absent Absent Aye Aye Aye The vote carried 4-0, to grant $5,000 incentive to Ole Turnpike, LLC. Old Business: The Authority continued its discussion on funding for community agencies. Mr. Buttram expressed importance that the agency be located inside the Town. After process of elimination, there were six qualifying organizations from requests for which to distribute the grant funds. Mr. Buttram suggested classifying the six organizations in tiers and Mr. Sensenig agreed. Mr. Sensenig took the lead in determining the organizations by rank based on the suggestion and thej policy previously yapproved by the Mr. Turner stated that he was unaware that the Christmas Station would have been eligible for the outside agency grant. The Authority suggested that the Christmas Station could be added next year if the EDA is Mr. Sensenig made a motion to distribute the $20,000 funds to non-profits as follows: Bedford Boys Tribute Center, $8,000; Bedford Get Together Inc, $1,800; Bedford VA Museum, $2,550; Bedford Ride, $4,000; Bedford Urban Garden (BUG), $650; and. Wharton Memorial Foundation, $3,000. Mrs. Authority. still responsible for the community agency funding on behalfof Town Council. Crumpacker seconded. 10/11/24 EDA Minutes Page 3 of4. The Chair asked for a roll call vote: Mr. Turner Ms. Scott Mr. Kirkpatrick Mrs. Brown Mrs. Crumpacker Mr. Sensenig Mr. Buttram Aye Absent Absent Absent Aye Aye Aye The vote passed 4-01 to distribute the community agency funding of $20,000 to the six specified non-profit The Authority asked staffh how would those listed and awarded be notified. Ms. Zirkle suggested that she organizations located in Town ini the amounts noted in the motion. would provide letters on behalfoft the Authority. Adjournment: The meeting adjourned at 1:45 pm. The next meeting will be on Friday, November 8, 2024, at 1:00 pm. Respectfully submitted, Cathy Johnson, Secretary Approved on January 10, 2025. Ohe 10/11/24 EDAI Minutes Page 4of4