Mindesofthe TwnofBedord Economic Development. Authority - The Economic Development Authority held a regular meeting on Friday, January 10, 2025, at 1:00 p.m. in the Council Hall, Town Municipal Building, 215 East Main Street, Bedford, VA 24523. Board members present: Mr.. Jonathan Buttram; Mr. David Sensenig; Mrs. Liz Brown; Ms. Lynn Scott, Mr. Kevin Turner, and Mrs. Michelle Crumpacker Board members absent: Mr. Ryan Kirkpatrick Staff present: Ms. Mary Zirkle, Director of Planning and Community Development; and Mrs. Anne Cantrell, Director of] Finance Staff absent: Ms. Cathy Johnson, Administrative Assistant Other absent: Mr. Theodore Craddock ofCaskie & Frost, Attorney of Record for Economic Development Authority Meeting Called to Order: Mr. Buttram called the meeting to order. There was a quorum present for conducting business. In the Clerk' S absence, Ms. Zirkle gave the roll-call: Mr. Turner Present Ms. Scott Present Mr. Kirkpatrick Absent Mrs. Brown Present Mrs. Crumpacker Present Mr. Sensenig Present Mr. Buttram Present Election ofOfficers: As this was the annual organization meeting, Ms. Zirkle opened the floor for nominations for Chairman. Mr. Sensenig made a motion to nominate Mr. Jonathan Buttram as Chairman, and the motion was seconded by Ms. Scott. After closing the floor to nominations, Mr. Jonathan Buttram was elected as Chairman by a roll call vote of 6-0 as follows: Mr. Turner Aye Ms. Scott Aye Mr. Kirkpatrick Absent 1/10/25 EDA Minutes - Page 1 of 5 Mrs. Brown Aye Mrs. Crumpacker Aye Mr. Sensenig Aye Mr. Buttram Aye Mr. Buttram opened the floor for nominations for Vice-Chairman. Ms. Scott made a motion to nominate Mr. David Sensenig as Vice-Chair, and Mr. Buttram seconded the motion. The nominations were closed and by a roll call vote of 6-0, Mr. David Sensenig was elected as Vice-Chair as follows: Mr. Turner Aye Ms. Scott Aye Mr. Kirkpatrick Absent Mrs. Brown Aye Mrs. Crumpacker Aye Mr. Sensenig Aye Mr. Buttram Aye Mr. Buttram opened the floor for nominations of Treasurer. Mr. Buttram made a motion to nominate Mrs. Anne Cantrell, and Ms. Scott seconded the motion. The nominations were closed and by a roll call vote of 6-0, Mrs. Anne Cantrell was elected as Treasurer as follows: Mr. Turner Aye Ms. Scott Aye Mr. Kirkpatrick Absent Mrs. Brown Aye Mrs. Crumpacker Aye Mr. Sensenig Aye Mr. Buttram Aye Mr. Buttram opened the floor for nominations of Secretary. Ms. Scott made a motion to nominate Ms. Cathy Johnson as Secretary, and Mr. Sensenig seconded the motion. The nominations were closed and by a roll call vote of 6-0, Ms. Cathy Johnson was elected as Secretary as follows: Mr. Turner Aye Ms. Scott Aye Mr. Kirkpatrick Absent Mrs. Brown Aye Mrs. Crumpacker Aye Mr. Sensenig Aye Mr. Buttram Aye Approval of Minutes: The October 11, 2024, minutes were approved by acclamation as presented. Remarks by Chairman and Members: None. Reports from Town Staff: 1/10/25 EDA Minutes Page 2 of 5 Ms. Zirkle mentioned that she needs to add the child care incentive application to the agenda. She presented a draft copy for the Authority to review. She is finalizing a child care provider incentive application that has garnered interest from local organizations, including the YMCA, and Free State Academy. Mrs. Cantrell gave the financial report and she stated that as of November 30, 2024, the cash balance was $449,093.22. The Authority reviewed the Year-to-Date Budget report and the Balance Sheet. Mrs. Cantrell mentioned that the totaled year-to-date revenues were $412,000 and expenses were $772,000, resulting in a deficit of $360,000. She explained that the report highlighted the purchase of land and building which would be moved from an expense to a balance sheet account at the end of the fiscal year. She announced that there was a budget amendment adopted at the last meeting that will bei reflected on the next report. She recommends that another budget amendment be adopted next month due to the land purchase. Reports from Attorney: None. Incentive Applications and Requests - Quarterly: 895 Blue Ridge Avenue (Route 460 West): Boddie-Noell Enterprises, Inc, developer of 895 Blue Ridge Avenue made real property improvements to construct a new drive-through restaurant for Hardee's. The restaurant opened November 19, 2024. The applicant is submitting a request for the Enterprise Zone Real Property Improvement Grant incentive for eligible work, specifically for contractors. This request is made under the Enterprise Zone incentive with the 5% rebate (outside oft the Downtown area). The minimum expenditure of$15,000 in eligible expenses was met and work exceeded the $100,000 maximum. Proof of payment was provided from contractor's pay applications and final release of the contractor's lien that totaled $1,387,096. The 5% incentive on the current expenditures would be $5,000 based on the $100,000 cap. This project will also be able to apply for the Virginia DHCD Enterprise Zone funds for new construction in 2025. Mr. Sensenig made a motion to grant $5,000 and Mrs. Brown seconded. The Authority awarded an incentive amount of 5% of the expenses at $5,000.00 for the Real Property Investment Grant program. The motion to approve the incentive was passed with a 6-0 vote as follows by roll call vote: Mr. Turner Aye Ms. Scott Aye Mr. Kirkpatrick Absent Mrs. Brown Aye Mrs. Crumpacker Aye Mr. Sensenig Aye Mr. Buttram Aye New Business: A budget amendment related to property purchase was discussed, and the Authority decided to move the 2025 Budget Amendment to the next meeting. Old Business: First item of discussion, Mr. Buttram gave an update on the Workforce Development Center. He led the discussion by highlighting the workforce development initiatives and progress. Ms. Zirkle discussed the grants progress. She mentioned meetings held with stakeholders and education partners, and the need to follow up with local schools and colleges. 1/10/25 EDA Minutes - Page 3 of 5 Next, the Authority discussed the cleanup and maintenance updates at Winoa aka "Workforce Development Center". The facility is undergoing a major cleanup with funding from the Virginia DEQ. Mr. Buttram and Ms. Zirkle shared that the roof leaks at the facility were identified. They emphasized the objective to focus on stabilizing the structure and keeping it dry before considering any major replacements or renovations. Ms. Zirkle mentioned that a quote for replacing the roof damages came in at $14,000. She was hesitant to proceed without further quotes and checking the budget. She suggested the need for cleaning the drains first because clogged drains were the potential cause of the problem. Mr. Buttram stated that Shane Murphy is contracted part-time to help manage the facility. The office area has been successfully cleaned, and work is currently underway in other parts ofthe facility. Mr. Buttram stated that he spoke to Al Beisser who was interested in temporarily leasing a storage area in the facility. Mr. Beisser wanted to lease as long as he could until he has to move out. He suggested that Mr. Beisser wait untilafterthe facility is cleaned in late March. Mr. Buttram stated that he still has not heard from Hunter Allen who was also interested in leasing an area in the facility. Mr. Buttram suggested that renting is not the highest priority but it makes sense if someone wants to lease short-term or use the rail spur. He added that it is certainly something for the Authority to consider. Next, the. Authority was updated on the sewer lift station and the electric department progress. The: sewer lift station is set to have the power cut off in a week or two and Bison Printing will be notified. Rhonda English from the Bedford Regional Water Authority has not provided updates. The Authority wanted a follow up with the Water Authority on the sewer lift station soon. The Town Electric Department has other priorities, SO work on running electrical lines to the Center is delayed. Second item of discussion, the Authority was updated on the Business Class Hotel project. Ms. Zirkle stated that Amit Patel is scheduling a pre-construction conference with the County for the excavation. Mr. Buttram read an email dated January 6, 2025, from Om Patel into the records. The email confirmed that excavation issues for sourcing of dirt have been resolved. The work will stay on schedule as outlined in the performance agreement March 2025 deadline. Mr. Buttram stated that there are still some potential roadblocks. Ms. Zirkle mentioned that a transformer is needed for a Tesla charging station at the hotel, which is still pending. The Authority discussed plans to potentially revise the performance agreement to include the transformer request. Third item of discussion, the Authority discussed the Waukeshaw apartments updates. The construction is ongoing, with drywall installation nearing completion. The project for the apartments is approaching the end of its performance agreement extension. Ms. Zirkle reminded that the Authority was a pass through for Town Council. Ms. Zirkle stated that if Council extends the agreement, it will come before the Authority. Mr. Buttram stated that he will sit down with the Town Mayor and Dave McCormack if needed. He stated that the boutique hotel was supposed to be finished by spring, but the project appears behind schedule. Next, The Authority reviewed the draft child care incentive policy application presented at the start ofthe meeting. Ms. Zirkle outlined the child care incentive policy, noting terms and conditions that would be modified to meet the needs and reviewed by the attorney. The Authority discussed the allocation of funds, with a cap of $15,000 per application, and the requirement for State's license or certification. The Authority emphasized the discretion in fund usage and the importance of maintaining standards for State oversight of facilities. Ms. Zirkle will finalize and distribute the incentive application to those entities that are ready to apply. The Authority discussed downtown business closures and commercial properties for sale. Mr. Buttram asked about the Housing Authority's properties for sale. He suggested a future endeavor were the Authorities can split the revenue. Ms. Zirkle mentioned a grant that was awarded three years ago which she still needs to request for proposals and a feasibility study. The Authority addressed the status and the importance of moving forward. Adjournment: The meeting adjourned at 1:43 p.m. The next scheduled meeting will be on Friday, February 14, 2025, at 1:00 pm. 1/10/25 EDA Minutes - Page 4 of5 Respectfully submitted, Cathy Johnson, Secretary Approved on March 14, 2025. , - A 6s Mr. Jonathan Buttram, Chairman 1/10/25 EDAI Minutes Page 5 of 5