Doing Business in Nelson County: July 2004

July 2004

INDUSTRIAL DEVELOPMENT AUTHORITY
Thursday, July 1, 2004

Present:
Allen Hale
Montie Pritchett
Natt Hall
Barbara Powell
Tom Wheaton   Absent:
John Spencer
Stu Armstrong
Chairperson Allen Hale called the meeting to order.

There was no public comment.

Four bids were presented for entrance corridor signs with estimates ranging from $3,200 to $8,066.38 and materials ranging from soapstone to a synthetic stucco.
Motion: To authorize Allen Hale to negotiate a contract for two signs, the north and south ends of Route 29, with Byrd Enterprises of Nelson County with a price not to exceed $5,000/sign and with a design to be presented for final approval at the IDA's August meeting.   (5-0)
Mr. Hale will also request a proposal from Byrd Enterprises to repair or replace the remaining gateway signs.

A joint meeting with the Board of Supervisors is set for Thursday, August 5 at 6:00 pm. Members agreed to meet for a short business meeting at 5:30 pm on that date.

Two bids were received for bush hogging the Callohill property with both estimating the time required as 8-10 hours for 4-5 acres of land as follows:
Smith Enterprises - $50.00/hour
Danny Ferguson - 45.00/hour
Motion: To accept the Ferguson bid. (5-0)

The resolution that will be presented at the July 13 Board of Supervisors meeting changing the name of the Nelson County Industrial Development Authority to the Nelson County Economic Development Authority was reviewed.

Allen Hale reported that an area businessman had asked to remove approximately 3 loads of rock from the pile on Callohill property.
Motion: To allow this person and any other responsible party to remove the material. (5-0)

Natt Hall suggested that the Callohill property be advertised for sale by bid with brokers allowed to participate. Allen Hale suggested that the proposed marketing plan be presented to the Board of Supervisors prior to any advertising. Members requested that the item be added to the August 5 agenda

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-Powell. Roll Call Vote (5-0)

Motion: To end closed session. Hall-Powell. Roll Call Vote. (5-0)

Motion: To return to regular session. Hall-Powell. Roll Call Vote. (5-0)

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-Powell. Roll Call Vote. (5-0)

Motion: To loan the prospect $20,800 for a market feasibility study. The loan is contingent on the prospect's agreement that:

1. The loan will be repaid at 4% interest within two years; and
2. A copy of the market feasibility study will be made available to the IDA.
(5-0)

There being no further business, the meeting was adjourned.