Mintesofihe TownofBedord Economic Development, tAuthority The Economic Development Authority held a regular meeting on Friday, May 9, 2025, at 1:00 p.m. in the Council Hall, Town Municipal Building, 215 East Main Street, Bedford, VA 24523. Board members present: Mr. David Sensenig, Vice Chairman; Ms. Lynn Scott, Mr. Kevin Turner, Mrs. Michelle Crumpacker; and Mr. Ryan Kirkpatrick (arrived at 1:10 p.m.) Board members absent: Mr. Jonathan Buttram, Chairman; and Mrs. Liz Brown 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 present: Mr. Theodore Craddock ofCaskie & Frost, Attorney of Record for Economic Development Authority (via Zoom) Meeting Called to Order: Mr. Sensenig called the meeting to order. There was a quorum present for conducting business. The Clerk gave the roll-call: Mr. Turner Present Ms. Scott Present Mr. Kirkpatrick Arrived at 1:10 p.m. Mrs. Brown Absent Mrs. Crumpacker Present Mr. Sensenig Present Mr. Buttram Absent Approval of Minutes: Ms. Scott made a motion to approve the March 14, 2025, minutes and Mrs. Crumpacker seconded. The motion carried 4-0 to approve the minutes as presented. Remarks by Chairman and Members: Mr. Sensenig amended the agenda to allow a presentation by Mr. Ken Parker and moved Old Business for a presentation by Penny Whiteheart before Reports from Town Staff. 5/9/25 EDAI Minutes - Page 1 of 5 Presentation: Mr. Ken Parker ofthe Bedford Boys Tribute Centert thanked the Authority for the $8,000 non-profit/ outside agency organizations grant. He gave an update ofthe recent events pertaining to the Tribute Center and the Bedford Boys. He announced a new movie released about the Bedford Boys and he handed out a DVD copy to each member present at the meeting. He spoke about how a memorial plaque for the Bedford Boys will be dedicated in France. A new military destroyer will be named USS Bedford Boys in honor of those who served from the community. Old Business: Ms. Penny Whiteheart with Creative Economic Development Consultingjoined on Zoom for the Metal Workforce Center Feasibility Plan update. She provided a slide presentation and offered recommendations. She mentioned the support of the Industry Advisory Council and how the Career Awareness offers exposure to K-12 students. She stated that the next steps were to complete a draft report by mid-May, have deliverables by the end of June, and a full report by the July meeting. Ms. Zirkle one comment received from the architect was to be mindful of the first tenant. She told the Authority one of the comments from interviewees was to think big because this will be a world-class facility. Mr. Sensenig suggested being flexible without jeopardizing the project. Mr. Kirkpatrick thanked Ms. Whiteheart for providing the drawing renderings. Reports from Town Staff: Ms. Zirkle gave the financial report on behalf of Mrs. Cantrell. She stated that as of March 2025, the Equity in Pooled Cash Balance was $122,015.88. The Authority reviewed the Balance Sheet and the Year-to-Date Budget Report. She stated that the Authority will get money back and will be reimbursed for the brownfield cleanup project. Ms. Zirkle updated. the Authority on the Business Center Incubator Grant through the Tobacco Commission. Since the March 14 meeting, she was able to get out the Request For Proposals. She stated that the deadline to receive proposals is May 27, 2025. The Authority thanked Ms. Zirkle for her work on the grant. Ms. Zirkle explained that the Authority is overbudget in the "Buildings and Grounds" budget line item due to the roofing issues at the Workforce Development Center building. She is sending out to get bids for mowing the center property. Ms. Scott asked about hotel updates. Ms. Zirkle stated that the infrastructure, stormwater, water and sewer are being installed. She clarified that the main entrance to the hotel will be off of Tiger Trail. Ms. Crumpacker asked would the electrical be underground. Ms. Zirkle stated that only electricity at the transformer will be underground. Ms. Scott asked could she see a new design ofthe hotel. Ms. Zirkle stated that staffjust has the construction plans, but the design is similar to the Hampton Inn being built in Daleville. Reports from Attorney: None. Incentive Applications and Requests - Quarterly: 307 West Main Street: Wright Rental, LLC, the owner made real property improvements at this location to renovate the office building for a construction office. The cost of work done to date totaled over $500,000. The labor was performed by the company's employees that totaled $100,222.83 based on time cards provided. The request is under the Downtown Area incentive with the 10% rebate. The minimum expenditure ofs $15,000 in eligible expenses was met and work exceeded the $100,000 maximum. The 10% incentive on the current expenditures would be based on expenses reaching the cap, which would be $10,000. Mr. Kirkpatrick made a motion to grant $10,000.00 and Ms. Scott seconded. 5/9/25 EDA Minutes Page 2 of 5 The Vice Chair asked for a roll call vote: Mr. Turner Aye Ms. Scott Aye Mr. Kirkpatrick Aye Mrs. Brown Absent Mrs. Crumpacker Aye Mr. Sensenig Aye Mr. Buttram Absent The vote carried 5-0 to grant $10,000.00 incentive to Wright Choice Construction for Real Property Improvement at 307 West Main Street. Ms. Zirkle introduced Mr. John Stewart with Free State Academy who was present in the audience for the next request. 511 East Main Street: Free State Academy, Inc., the owner renovated the building as part of the conversion to a school. The value of work done totaled approximately $119,011.27. Actual expenditures for materials and paid labor totaled $61,734.27. Painting by volunteers totaled $57,277.00 based on hourly rate of $22 per hour. This request is made under the Downtown Area incentive with the 10% rebate. The minimum expenditure of $15,000 in eligible expenses was met and the value ofwork exceeded the $100,000 maximum. The 10% incentive on the current expenditures was $10,000 based on expenses reaching the cap. Ms. Scott made a motion to grant $10,000.00 and Mr. Kirkpatrick seconded. The Vice Chair asked for a roll call vote: Mr. Turner Aye Ms. Scott Aye Mr. Kirkpatrick Aye Mrs. Brown Absent Mrs. Crumpacker Aye Mr. Sensenig Aye Mr. Buttram Absent The vote carried 5-0 to grant $10,000.00 incentive to Free State Academy, Inc. for Real Property Improvement at 511 East Main Street. 307 West Main Street: Wright Rental, LLC, the owner made façade and signage improvements at this location. The cost of the façade work totaled $15,750. The work was performed by an exterior contractor that does not include other work for the sign. The 50% capped rebate incentive on the $15,750 would be $5,000. Mr. Turner made a motion to grant $5,000.00 and Mrs. Crumpacker seconded. The Vice Chair asked for a roll call vote: Mr. Turner Aye Ms. Scott Aye Mr. Kirkpatrick Aye Mrs. Brown Absent Mrs. Crumpacker Aye Mr. Sensenig Aye Mr. Buttram Absent The vote carried 5-0 to grant $5,000 incentive to Wright Choice Construction for Downtown Façade and Signage Grant at 307 West Main Street. 5/9/25 EDA Minutes Page 3 of5 5 511 East Main Street: Free State Academy, Inc., the owner changed the previous signage at this location. The cost of the façade sign totaled $1,740.77. The request applies under the Façade and Signage incentive of 50% of the cost of improvements, up to $5,000. The 50% capped rebate incentive on $1,740.77 would be $870.39. Mr. Kirkpatrick made a motion to grant $870.39 and Mrs. Crumpacker seconded. The Vice Chair asked for a roll call vote: Mr. Turner Aye Ms. Scott Aye Mr. Kirkpatrick Aye Mrs. Brown Absent Mrs. Crumpacker Aye Mr. Sensenig Aye Mr. Buttram Absent The vote carried 5-0 to grant $870.39 incentive to Free State Academy, Inc. for Downtown Façade and Signage Grant at 511 East Main Street. 1102 Turnpike Road: Bedford Area Family Young Men's S Christian Association, 1111 Turnpike Road, constructed a childcare facility at 1102 Turnpike Road. The contract cost ofwork was $1,458,192 for the facility. The request is made under the Childcare Provider Incentive grant. The amount well exceeded the match in order to qualify for the full amount ofincentive. The maximum amount ofreimbursement is $15,000 in a one-to-one match. Ms. Scott made a motion to grant $15,000 and Mr. Kirkpatrick seconded. The Vice Chair asked for a roll call vote: Mr. Turner Aye Ms. Scott Aye Mr. Kirkpatrick Aye Mrs. Brown Absent Mrs. Crumpacker Aye Mr. Sensenig Aye Mr. Buttram Absent The vote carried 5-0 to grant $15,000 incentive to thel Bedford Area YMCA for a Childcare Incentive Grant at 1102 Turnpike Road. Before considering the next childcare incentive, Ms. Zirkle advised the Authority that Free State Academy had applied for "Religious Exemption" certification and the certification request is pending with the Virginia Department of Education. Mr. Stewart told the Authority that the Academy has submitted for final approval. Mr. Sensenig stated that per the child care incentive policy, he was under the assumption that the certification is a requirement of the grant eligibility before approval. Mr. Craddock agreed that the facility must be licensed before the Authority vote. He advised that the Authority delay approval until the license is received. The Authority tabled its decision by acclamation until its next meeting or until the certification is received. New Business: At the March 14 meeting, the Authority approved a budget amendment as an economic development incentive to Waukeshaw Development to assist with the electrical costs. Ms. Zirkle stated this is a pass through and that the total amendment is $47,000.00 for the electrical project costs related to the electrical meter requirements for the property. Mr. Craddock agreed with the need for al budget amendment since the appropriation is from Town Council and pass through the Economic Development Authority funds. 5/9/25 EDA Minutes Page 4 of 5 The Vice Chair asked for a motion to approve the revised amendment. Mr. Turner made a motion to adopt the budget amendment as presented and Ms. Scott seconded. The motion to adopt the revised FY2025 Budget Amendment showing the $47,000 grant to Waukeshaw Development for electric construction was passed with a 5- Ovote as follows by roll call vote: Mr. Turner Aye Ms. Scott Aye Mr. Kirkpatrick Aye Mrs. Brown Absent Mrs. Crumpacker Aye Mr. Sensenig Aye Mr. Buttram Absent Ms. Zirkle mentioned that the new 2026 budget will be adopted July 1 and the Authority is still in a good position financially. She agreed to provide the budget summary at the next meeting. Mr. Kirkpatrick asked about the grant tracking table that staff had been providing to show available funds. Ms. Zirkle noted she appreciated the reminder and would provide that at the next meeting. Adjournment: The meeting adjourned at 1:56 p.m. The next scheduled meeting will be on Friday, June 13, 2025, at 1:00 pm. Respectfully submitted, Cathy Johnson, Secretary Approved on June 13, 2025. hl A 1 - 4 Mr. Jonatlan Buttram, Chairman 5/9/25 EDA Minutes - Page 5 of 5