MINUTES OF THE REGULAR ANNUAL MEETING OF THE BOARD OF DIRECTORS OF THE ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF SUFFOLK MARCH 12, 2025 AT 4:00 P.M. AT THE SUFFOLK MUNICIPAL CENTER BUILDING, 442 WEST WASHINGTON STREET, CONFERENCE ROOM 3 MEMBERS PRESENT Wesley King, Chair William Webb, Vice-Chair BJ Willie, Secretary-Treasurer Anthony Harper Karima Lockwood Leslie Martin Simon Stevenson MEMBERS ABSENT: Chris Rice STAFF PRESENT: Kevin Hughes, Deputy City Manager Janet Days, Director of Economic Development Deanna Trimyer, Assistant Director of Economic Development Terry Smith, Senior Business Development Manager Sheena Idlette, Economic Development Associate Erin Dears, Business Development Manager Julia Hillegass, Agricultural Specialist Charles Meek, Director of Finance Chris Briardy, Financial Reporting and Compliance Manager OTHERS PRESENT: Darius Davenport, Crenshaw, Ware & Martin John Rector, Council Member Timothy Johnson, EDA Council Liaison CALL TO ORDER Mrs. Days called the meeting to order at 4:00 p.m. Ms. Trimyer discussed with the Board that Mr. King would be joining the meeting by phone. Mr. Willie made a motion that the Board allow Mr. King to participate in the meeting via. Phone. The motion was seconded by Mr. Harper and carried the following recorded vote: Ayes: Harper, Lockwood, Martin, Stevenson, Webb, Willie (6) Nays: None (0) Abstain: None (0) Motion Passed Board of Directors Meeting March 12, 2025 Page 2 OLD BUSINESS Minutes Mr. Webb moved to approve the minutes of the regular meeting of February 12, 2025. The motion was seconded by Mr. Harper and carried the following recorded vote: Ayes: Harper, Lockwood, Martin, Stevenson, Webb, Willie (6) Nays: None (0) Abstain: None (0) Motion Passed Financial Report. Mrs. Days acknowledged the inclusion of the financial reports for the period ending January 31, 2025. Mr. Briardy gave a brief overview of the financial report to the Board. NEW BUSINESS Election of Officers Mr. Davenport motioned that the Board elect the following Officers for 2025. Chair-Wesley King, Vice-Chair- William Webb, Secretary-Treasurer- BJ Willie, Deputy Secretary-Treasurer- Janet Days. The motion was secounded by Harper and carried the following recorded vote: Ayes: Harper, King, Lockwood, Martin, Stevenson, Webb, Willie (7) Nays: None (0) Abstain: None (0) Motion Passed Following the recorded vote, Mr. Davenport turned the meeting facilitation over to Mrs. Days. EDA Annual Meeting,2024 Year in Review Ms. Trimyer provided the Board with an overview of the economic development activities that took place in 2024. Small Business Improvement Application - Baron's Pub (185 N. Main St.) - Ms. Trimyer gave the Board an overview of an application submitted by Baron's Pub for a Small Business Improvement Grant in the amount of $9,755.00 for the business located at 185 N. Main Street. Mrs. Lockwood moved to approve the grant. The motion was seconded by Mr. Webb and carried the following recorded vote: Ayes: Harper, Lockwood, Martin, Stevenson, Webb, Willie (6) Nays: None (0) Abstain: None (0) Motion Passed Façade Grant Completion-1222 Carolina Rd. Ms. Trimyer provided the Board with a summary of the completion of the façade grant previously approved by the Board for 1222 Carolina Rd, Weeks Construction of Virginia Suffolk Marketing Activity Report Mr. Webb presented the February 2025 Suffolk Marketing Activity Report. Downtown E-Newsletter Mr. Webb presented the March 2025 Downtown E-Newsletter. Suffolk E-Newsletter Mr. Webb presented the March 2025 Suffolk E-Newsletter. Board of Directors Meeting March 12, 2025 Page 3 Motion for Closed Meeting Mr. Willie 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, Project Storage at Northgate Commerce Park pursuant to Virginia Code Section 2.2 - 3711 (A)(3) The motion was seconded by Mr. Harper and carried the following recorded vote: Ayes: Harper, Lockwood, Martin, Stevenson, Webb, Willie (6) Nays: None (0) Abstain: None (0) Motion Passed AF Resolution of Certification of the Closed Meeting Mr. Willie moved to approve A RESOLUTION OF CERTIFICATION OF THE CLOSED MEETING OF MARCH 12, 2025 PURSUANT TO SECTION 2.2-3712 OF THE CODE OF VIRGINIA (1950), AS AMENDED. The motion was seconded by Ms. Lockwood and carried the following recorded vote: Ayes: Harper, Lockwood, Martin, Stevenson, Webb, Willie (6) Nays: None (0) Abstain: None (0) Motion Passed Purchase and Sale Agreement -Hampton Roads Moving & Storage Mr. Hughes briefed the Board on the Purchase and Sale Agreement for Hampton Roads Moving & Storage. Mr. Harper moved to approve A RESOLUTION TO AUTHORIZE THE CONVEYANCE OF PROPERTY AND OWNED BY THE ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF SUFFOLK LOCATED IN NORTHGATE COMMERCE PARK TO HAMPTON ROADS MOVING & STORAGE. The motion was seconded by Mr. Stevenson and carried the following recorded vote: Ayes: Harper, Lockwood, Martin, Stevenson, Webb, Willie (6) Nays: None (0) Abstain: None (0) Motion Passed Mr. Webb reminded the Board that the next meeting will be on Wednesday, April 9, 2025 at 4:00 p.m. at the Suffolk Municipal Building, 442 West Washington Street, Conference Room 3 Adjourn, There being no further business, the EDA meeting was adjourned by Mr. Webb at 4:37 p.m. 1 Approved: Wesley King, Chair Teste: X - wlg BJWlie, Secretary-Treasurer