MINUTES OF THE REGULAR ANNUAL MEETING OF THE BOARD OF DIRECTORS OF THE ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF SUFFOLKJANUARY 8, 2025 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 BJWille, Secretary Treasurer Anthony Harper Chris Rice William Webb Karima Lockwood Simon Stevenson 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 Erin Dears, Business Development Manager Charles Meek, Director of Finance Chris Briardy, Financial Reporting and Compliance Manager Darius Davenport, Crenshaw, Ware & Martin OTHERS PRESENT: CALLTOO ORDER Ms. Snyder called the meeting to order at 4:02 p.m. OLD BUSINESS Minutes. Mr. King moved to approve the minutes of the regular meeting of December 11, 2024. The motion was seconded by Mr. Harper and carried thet following recorded vote: Ayes: Nays: Abstain: Motion Passed Harper, King, Snyder, Webb, Willie (5) None (0) Rice (1) Financial Report. Ms. Snyder acknowledged the inclusion oft the financial reports for the period ending November 30, 2024. Mr. Briardy gave al brief overview oft thet financial report to the Board. Board of Directors Meeting January 8, 2025 Page 2 NEW BUSINESS Virginia Business Ready Site Program (VBRSP)Ms. Smith briefed the board on the' VBRSP Performance Agreement between Suffolk EDA and' Virginial Economic Development Partnership (VEDP), with regards tol Project Port 460. Mr. Rice moved to approve AI RESOLUTION TO AUTHORIZE THE ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF SUFFOLK TO ENTER INTO A PERFORMANCE AGREEMENT WITH THE VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP. The motion was seconded by Mr. Webb and carried thet following recorded vote: Ayes: Nays: Abstain: Motion Passed Harper, King, Rice, Snyder, Webb, Willie (6) None (0) None (0) Virginia Business Ready Site Program (VBRSP)Ms. Smith briefed the board on the VBRSP Performance Agreement between Suffolk EDA and Port 460 Logistics Group (Matan & Rockefeller Group). Ms. Smith shared with the Board that the Port 460 Group is responsible for reporting and initiating reimbursement requests. Mr. Harper moved to approve A RESOLUTION TO AUTHORIZE THE ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF SUFFOLK TO ENTER INTO A PERFORMANCE AGREEMENT WITH THE PORT 460 LOGISTICS CENTER GROUP. Ther motion was seconded by Mr. Willie and carried thei following recorded vote: Ayes: Nays: Abstain: Motion Passed Harper, King, Rice, Snyder, Webb, Wilie (6) None (0) None (0) Suffolk Marketing Activity Report. Ms. Snyder presented the December 2024 Suffolk Marketing Activity Report. Downtown E-Newsletter. Ms. Snyder presented the. January 2025 Downtown E-Newsletter. Suffolk E-Newsletter. Ms. Snyder presented the. January 2025 Suffolk E-Newsletter. Motion for Closed Meeting Mr. Rice moved to reconvene in a closed meeting for the purpose of" "A discussion or consideration of acquisition of real property for a public purpose, or of the disposition of publicly held real property, where discussion in an open meeting would adversely affect the bargaining position or negotiating strategy of the Authority" specifically concerning, property at" "Suffolk Industrial Park, Northgate Commerce Park, Wiroylndustrial Park and Obici Place" pursuant to Virginia Code Section 2.2-3711(A)(3). The motion was seconded by Mr. King and carried thet following recorded vote: Ayes: Nays: Abstain: Motion Passed Harper, King, Rice, Snyder, Webb, Willie (6) None (0) None (0) Board of Directors Meeting January 8, 2025 Page3 AResolution of Certification of the Closed Meeting Mr. Willier moved to approve. Al RESOLUTION OF CERTIFICATION OF THE CLOSED MEETING OF JANUARY 8, 2025 PURSUANT TO SECTION 2.2-3712 OF THE CODE OF VIRGINIA (1950), AS AMENDED. The motion was seconded by Mr. Rice and carried the following recorded vote: Ayes: Nays: Abstain: Motion Passed Harper, King, Rice, Snyder, Webb, Willie (6) None (0) None (0) Contract for sale of Land to Karis Acquisitions, LLC Mr. Hughes briefed the Board on the sale agreement to Karis Acquisitions, LLC. Mr. Ricei move to approve Al RESOLUTIONTO AUTHORIZE THE CONVEYANCE OF PROPERTY OWNED BY THE ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF SUFFOLKI LOCATED IN SUFFOLK INDUSTRIAL PARK TO KARIS ACQUISITIONS, LLC. The motion was seconded by Mr. Harper and carried the following recorded vote. Ayes: Nays: Abstain: Motion Passed Harper, King, Rice, Snyder, Webb, Willie (6) None (0) None (0) Ms. Snyder reminded the Board that the next meeting will be on Wednesday, February 12, 2025 at 4:00 p.m. at the Suffolk Municipal Building, 442 West Washington Street, City Council Conference Room. Adjourn. There being no further business, the EDAI meeting was adjourned by Ms. Snyder at 4:54 p.m. Approved: Shyg Mary Snyder,Chair Anylw Teste: AW B BJWille, Secretary-Treasurer