Doing Business in Nelson County: August 2004

August 2004

Nelson County Industrial Development Authority
August 5, 2004

Present:
Allen Hale
Tom Wheaton
Barbara Powell
Natt Hall
Stu Armstrong (attended the joint meeting with the Board of Supervisors)

Absent:
Montie Pritchett
John Spencer

Allen Hale called the meeting to order.

Motion: To approve the minutes of the July 1, 2004 meeting. Wheaton-Powell (4-0)

Allen Hale updated the Authority on the gateway sign project. The sign at the northern entrance of the County on Route 29 should be installed by Labor Day. Staff is working with VDOT to arrange for the sign to be installed in the median. The sign design was presented to the Chamber of Commerce Board of Directors at their July meeting.

Tom Wheaton noted that the Callohill property has been mowed.

Motion: To authorize the Chairman of the Authority to execute the deed and bill of sale conveying the property described therein to Leisure Products, Inc. and deliver the deed and bill of sale to Leisure Products, Inc. in consideration of the Leasee paying the Authority a sum equal to the remaining principal balance and all accrued interest due on the bond (and any premiums to be paid on redemption thereof) to allow the deed of trust trustees to release in full the deed of trust and relieve the Authority of any and all liability with respect to the bond, plus $1.00 and any amounts due the Authority pursuant to the terms of the lease agreement and all other bond documents. Powell-Hall. Roll Call Vote (4-0)

The meeting was continued.

Joint Meeting with the Board of Supervisors
Supervisors present: Connie Brennan, Tommy Harvey, Gary Wood, Tommy Bruguiere, Harry Harris
Staff: Steve Carter and Maureen Corum

The group reviewed the 2003 strategic plan for the IDA. The IDA has systematically worked through the goals, and has plans for the implementation of those goals not yet attained.

The group reviewed the policy document for handling economic development prospects. Steve Carter noted that the proposed process is a policy document to guide staff to deliver a prospect to the IDA and Board of Supervisors. The two boards would then make the decisions on specific incentives.

Both boards agreed by consensus to go forward with a final document, with the following changes to be made ö lowering the investment amount to $50,000, changing the full time equivalent for number of employees to 2 and change the wording of the paragraph stating that ãNelson County may offer·ä the list of basic and enhanced incentives.

Allen Hale reported that the IDA has contracted for two signs - the first to be installed at the northern entrance on Route 29 by Labor Day and the second sign to be installed at the southern entrance on Route 29 thereafter.

Allen Hale reported that the lawsuit involving the IDA's Callohill property has been settled. The group discussed marketing the property. The property totals 16.572 acres with a lot of waste material on the site from the Food Lion project ö it is estimated that there is 5 acres of usable land and 11 acres of steep land or land covered by the rock pile. Gary Wood noted that the parcel is the only piece of industrial property that the county has sole control over. The road maintenance agreement was identified as a potential hindrance to the sale of the property. Stu Armstrong suggested advertising for proposals for the property which could bring
forth new ideas for the use of the parcel.

Motion: To authorize the Treasurer to liquidate the $50,000 certificate of deposit and transfer those funds to the IDA operating budget. Armstrong-Powell (5-0)

There being no further business, the meeting was adjourned.