MINUTES OF THE REGULARANNUAL MEETING OF THE BOARD OF DIRECTORS OF THE ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF SUFFOLK, MAY 14, 2025, AT 4:00 P.M., AT THE SUFFOLK MUNICIPAL CENTER BUILDING, 442 WEST WASHINGTON STREET, CITY COUNCIL CONFERENCE ROOM MEMBERS PRESENT Wesley King, Chair William Webb, Vice-Chair BJ Willie, Secretary-Treasurer Anthony Harper Karima Lockwood Justin Nelson (non-voting) Simon Stevenson MEMBERS ABSENT: Leslie Martin 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 Chris Briardy, Financial Reporting and Compliance Manager Wendy Warfel, Assistant Director of Finance OTHERS PRESENT: Darius Davenport, Crenshaw, Ware & Martin John Rector, Council Member Timothy Johnson, EDA Council Liaison CALL TO ORDER Mr. King called the meeting to order at 4:00 p.m. Mr. King welcomed Justin Nelson to the EDA Board Meeting as the new Holy Neck Borough representative. Mr. Davenport reminded the Board of the Oath of Office they took when swom into their elected positions and gave a brief overview of the Oath. Mr. King discussed with the Board the need to amend the agenda to include the Peanut Crossing Phase II-EDIP Agreement. Mr. Willie made ar motion for the Board to accept the amendment. The motion was seconded by Mr. Harper and carried the following recorded vote: Ayes: Harper, King, Lockwood, Stevenson, Webb, Willie (6) Nays: None (0) Abstain: None (0) Motion Passed Board of Directors Meeting May 14, 2025 Page 2 OLD BUSINESS Minutes Mr. Webb moved to approve the minutes of the regular meeting of April 9, 2025. The motion was seconded by Mr. Stevenson and carried the following recorded vote: Ayes: Harper, King, Lockwood, Stevenson, Webb, Willie (6) Nays: None (0) Abstain: None (0) Motion Passed Financial Report Mr. King acknowledged the inclusion of the financial reports for the period ending March 29, 2025. Mr. Briardy gave a brief overview oft the financial report to the Board. NEW BUSINESS Proposed FY25-26 EDA Budget Mr. Briardy provided the Board with an overview of the proposed FY 25-26 EDA budget. Mr. Webbi moved to approve Al RESOLUTION APPROVING THE ECONOMIC DEVELOPMENT AUTHORITY OPERATING BUDGET AND APPROPRIATING FUNDS FOR EXPENDITURES CONTEMPLATED DURING THE FISCAL YEAR BEGINNING JULY 1, 2025 AND ENDING JUNE 30, 2026, AND REGULATING THE PAYMENT OF THE MONEY. The motion was seconded by Mr. Willie and carried the following recorded vote: Ayes: Harper, King, Lockwood, Stevenson, Webb, Willie (6) Nays: None (0) Abstain: None (0) Motion Passed Virginian-Pilot Building Mr. Hughes gave an update on the Virginian-Pilot Building. He discussed the space reallocation and renovation for the Commonwealth Attorey's Office. The Godwin Court Building will also be renovated to include a new courtroom. Facade Grant Application-1742 Coffee Co.(155 E. Washington St.) Ms. Trimyer gave the Board an overview of an application submitted by 1742 Coffee Co. for a Facade Grant in the amount of $10,000.00 for the business located at 155 E. Washington St. Mr. Webb moved to approve the grant. The motion was seconded by Mr. Willie and carried the following recorded vote: Ayes: Harper, King, Lockwood, Stevenson, Webb, Willie (6) Nays: None (0) Abstain: None (0) Motion Passed Small Business Improvement Grant Application - 1742 Coffee Co. (155 E. Washington St) Ms. Trimyer gave the Board an overview of an application submitted by the Addison Group for a Small Business Improvement Grant in the amount of $ 10,000.00 for the business located at 155 E. Washington Street. Mr. Webb moved to approve A RESOLUTION OF THE ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF SUFFOLK TO AUTHORIZE THE AWARD OF A SMALL BUSINESS IMPROVEMENT GRANT TO THE ADDISON GROUP. The motion was seconded by Mr. Willie and carried the following recorded vote: Ayes: Harper, King, Lockwood, Stevenson, Webb, Willie (6) Nays: None (0) Abstain: None (0) Motion Passed Board of Directors Meeting May 14, 2025 Page 3 Small Business Improvement Grant Completion - Baron's Pub (185 N. Main St.) Ms. Trimyer provided the Board with a summary of the completion of the Small Business Improvement Grant previously approved by the Board for 185 N. Main St, Baron's Pub. Façade and Small Business Improvement Grants Board Liaison Ms. Trimyer gave the Board an overview of an application submitted by White Multi-Purpose Center for a Façade Grant in the amount of $9,497.00 for the business located at 6142 Whaleyville Blvd. Mr. Willie moved to approve the grant. The motion was seconded by Mr. Webb and carried the following recorded vote: Ayes: Harper, King, Lockwood, Stevenson, Webb, Willie (6) Nays: None (0) Abstain: None (0) Motion Passed Peanut Crossing Phase II = EDIP Agreement Mrs. Days briefed the Board on the Peanut Crossing Phase II EDIP Agreement. Phase Il includes redeveloping 10 buildings on the 273 S. Saratoga St. property into 90 additional multi- family residential units. Suffolk Marketing Activity Report: Mr. King presented the April 2025 Suffolk Marketing Activity Report. Downtown E-Newsletter: Mr. King presented the May 2025 Downtown E-Newsletter. Suffolk E-Newsletter: Mr. King presented the May 2025 Suffolk E-Newsletter. 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 Polka and Project Goober at Suffolk Industrial Park pursuant to Virginia Code Section 2.2 - 3711 (A)(3) The motion was seconded by Mrs. Lockwood and carried the following recorded vote: Ayes: Harper, King, Lockwood, Stevenson, Webb, Willie (6) Nays: None (0) Abstain: None (0) Motion Passed AF Resolution of Certificationoft the Closed Meeting Mr. Webb moved to approve A RESOLUTION OF CERTIFICATION OF THE CLOSED MEETING OF MAY 14, 2025 PURSUANT TO SECTION 2.2-3712 OF THE CODE OF VIRGINIA (1950), AS AMENDED. The motion was seconded by Mr. Willie and carried the following recorded vote: Ayes: Harper, King, Lockwood, Stevenson, Webb, Willie (6) Nays: None (0) Abstain: None (0) Motion Passed Board of Directors Meeting May 14, 2025 Page 4 1802 N. Main Street. A motion was presented for the EDA to sign an application of rezoning as the property owner of 1802 N. Main Street to be included as part of the redevelopment and rezoning application for the property located at 1700 N. Main Street. Mr. Willie moved to approve the motion. The motion was seconded by Mr. Harper and carried the following recorded vote: Ayes: Harper, King, Lockwood, Stevenson, Willie (5) Nays: Webb (1) Abstain: None (0) Motion Passed Mr. King reminded the Board that the next meeting will be on Wednesday, June 11, 2025, at 4:00 p.m. in the City Council Conference Room at the Suffolk Municipal Building, 442 West Washington Street. Adjourn. There being no further business, the EDA meeting was adjourned by Mr. King at 5:53 p.m. A - K Approved: Wesley King, Chair 3 Teste: BJ Willie, Secretary-Treasurer