Doing Business in Nelson County: June 2004

June 2004

Nelson County Industrial Development Authority
June 3, 2004

Present:
Natt Hall
Barbara Powell
Tom Wheaton
Stu Armstrong
Allen Hale

Chairperson Allen Hale called the meeting to order.

There were no public comments

Motion: To approve the April 1 and May 6, 2004 minutes. Hall-Wheaton (5-0)

Stu Armstrong reported the IDA on fund balances and recent expenditures. (Total funds $201,622.)On August 23, 2004, one certificate of deposit in the amount of $50,692.22 matures (rate of interest is 3.85%) It was suggested that a list of future expenditures be created to help decide whether to re-invest the certificate of deposit. Stu Armstrong will contact the County about the budget allocation for the IDA.

The proposals for design for the gateway signs were reviewed. Staff will contact the sign companies for more detailed information (materials) and a plan for installation of the signs will be formulated.

Maureen Corum reported on the business prospect process. She is creating a policy document for the process. She is also drafting a proposal for County incentives.

The judge has entered the final decree for the Rutherford vs IDA case.
Staff will arrange for the bush hog contract for the Callohill property.
A marketing plan for the Callohill property will be created.

Allen Hale invited the group to the Historical Society meeting on June 6th to hear about the plans for the society and the museum of rural living.

Dates for the target business study were discussed. The best date for the IDA is August 5. This date will be discussed by the Board of Supervisors at their next meeting.

Closed Session
Motion: To end regular session and move into closed session to discuss a business prospect under the Virginia Freedom of Information Act 2.2-3711-A5 Hall-Armstrong. Roll Call Vote (3-0)

Motion: To end closed session. Hall-Armstrong. Roll Call Vote. (3-0)

Motion: To return to regular session. Hall-Armstrong. Roll Call Vote. (3-0)

Motion: To adopt the following resolution: Be it hereby resolved, the Industrial Development Authority of Nelson County does hereby return to regular session having only discussed a business prospect. Hall-Armstrong. Roll Call Vote. (3-0)

There being no further business, the meeting was adjourned.