2016-08-11 IDA Agenda Packet

2016-08-11 IDA Agenda Packet

Document Date: August 11, 2016 Document: 2016-08-11_IDA_Agenda_Packet.pdf

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The Industrial Development Authority of Russell County, Virginia

Agenda Packet Thursday, August 11, 2016

Holiday Inn Express Conference Room 5:00 P.M.

The Industrial Development Authority of Russell County, Virginia Agenda Packet Thursday, August 11, 2016 Holiday Inn Express Conference Room 5:00 P.M.

Virginia Code Closed Sessions 2.2-3711

Personnel
Acquisition/Sale of Property
Privacy of Individuals
Prospective Business
Legal

Virginia Code

Closed Sessions 2.2-3711

nv py

Personnel

Acquisition/Sale of Property Privacy of Individuals Prospective Business

Legal

August 11, 2016

AGENDA The Industrial Development Authority of Russell County Virginia will hold its regular monthly meeting on August 11, 2016, at Holiday Inn Express Conference Room, 228 Regional Park Rd., Lebanon, Virginia, and beginning at 5:00 PM.

Call to Order
Roll Call
Welcome Guests

a. Jamie Oliver – Holiday Inn Express b. Jonathan Belcher - VCEDA

Approval of Minutes from July 21st
Approval of Financial and Treasurer’s Report
Attorney’s Report
Committee Reports
Old Business

a. Tour of shell building 9. New Business

a. Overview of IDA b. Discussion of additional meetings

Closed Session as permitted by Virginia Code #2.2-3711
Adjourn Meeting

Attachments a. Aspire Appalachia (Page 1A-2A) b. Governor’s Summit (Page 3A-4A) c. VCEDA marketing calendar (Page 5A) d. Lebanon Inn Lease 5th amendment (Page 6A-10A) e. Modification agreement 500k loan (Page 11A-19A) f. Lebanon Inn payment schedule to VCEDA & VSBFA (Page 20A-22A)

August 11, 2016 AGENDA

The Industrial Development Authority of Russell County Virginia will hold its regular

monthly meeting on August 11, 2016, at Holiday Inn Express Conference Room, 228 Regional Park Rd., Lebanon, Virginia, and beginning at 5:00 PM,

enowe

Call to Order Roll Call Welcome Guests

a. Jamie Oliver - Holiday Inn Express

b. Jonathan Belcher - VCEDA Approval of Minutes from July 21* Approval of Financial and Treasurer’s Report Attorney’s Report Committee Reports Old Business

a. Tour of shell building New Business

a. Overview of IDA

b. Discussion of additional meetings Closed Session as permitted by Virginia Code #2.2-3711 Adjourn Meeting

Attachments

Aspire Appalachia (Page 1A-2A)

Governor’s Summit (Page 3A-4A)

VCEDA marketing calendar (Page 5A)

Lebanon Inn Lease 5" amendment (Page 6A-10A)

Modification agreement 500k loan (Page 11A-19A)

Lebanon Inn payment schedule to VCEDA & VSBFA (Page 20A-22A)

pape

July 21, 2016

The Regular monthly meeting of the Industrial Development Authority of Russell County, Virginia was held on July 21, 2016, at the Bonanza Family Restaurant, Main Street, Lebanon, Virginia, and beginning at 5:00 P.M.

MEMBERS
PRESENT: Becki Joyce, Chairman Roger Sword, Vice Chairman Scott Gilmer, Member Mike Hincher, Member

Carlton Elliott, Member

STAFF: Ben Chafin, Attorney Lonzo Lester, County Administrator

GUESTS: David Eaton, Board of Supervisors Carl Rhea, Board of Supervisors Lou Ann Wallace, Board of Supervisors

The Chairman called the meeting to order at 5:07 P.M.

Secretary called the roll and recorded the roll call.

ADJOURN JUNE 9TH MEETING Upon motion made by Roger Sword, second by Scott Gilmer, and duly

approved by the Industrial Development Authority of Russell County, Virginia to adjourn the June 9, 2016 meeting.

The Vote was: Yea: R. Sword, S. Gilmer, M. Hincher, C. Elliott Nay: None

ADJOURN JUNE 29TH MEETING

Upon motion made by Scott Gilmer, second by Mike Hincher, and duly approved by the Industrial Development Authority of Russell County, Virginia to adjourn the June 29, 2016 meeting.

July 21, 2016

MEMBERS PRESENT: Becki Joyce, Chairman Roger Sword, Vice Chairman Scott Gilmer, Member Mike Hincher, Member Carlton Elliott, Member STAFF: Ben Chafin, Attorney Lonzo Lester, County Administrator GUESTS: David Eaton, Board of Supervisors

Carl Rhea, Board of Supervisors Lou Ann Wallace, Board of Supervisors

The Chairman called the meeting to order at 5:07 P.M. Secretary called the roll and recorded the roll call.

ADJOURN JUNE 9™ MEETING Upon motion made by Roger Sword, second by Scott Gilmer, and duly approved by the Industrial Development Authority of Russell County, Virginia to adjourn the June 9, 2016 meeting.

The Vote was: Yea: R. Sword, S. Gilmer, M. Hincher, C. Elliott Nay: None

ADJOURN JUNE 29" MEETING Upon motion made by Scott Gilmer, second by Mike Hincher, and duly approved by the Industrial Development Authority of Russell County, Virginia to adjourn the June 29, 2016 meeting.

Page 2 July 21, 2016

The Vote was: Yea: R. Sword, S. Gilmer, M. Hincher, C. Elliott Nay: None

APPROVAL OF MINUTES Upon motion made by Mike Hincher, second by Carlton Elliott and duly

approved by the Industrial Development Authority of Russell County, Virginia to approve the minutes of June 9th, June 22nd, and June 29th meetings as presented.

The Vote was: Yea: R. Sword, S. Gilmer, M. Hincher, C. Elliott Nay: None

FINANCIAL REPORT

Financial report was presented by Carlton Elliott

Upon motion made by Mike Hincher, second by Roger Sword, and duly

approved by the Industrial Development Authority of Russell County, Virginia to approve the Financial Report of June 30, 2016 as presented and to pay all bills as presented with the following additions;

Bailey Engineering $4000.00 Chafin Law Firm $2799.50

The Vote was: Yea: R. Sword, S. Gilmer, M. Hincher Nay: None Abstain: C. Elliott

ATTORNEY’S REPORT

The plat for the shell building has been completed and the contract with Newmark Grubb Frank Hart Industrial Group has been updated and ready to sign.

Upon motion made by Roger Sword, second by Scott Gilmer and duly approved by the Industrial Development Authority of Russell County, Virginia authorizing the Chairman to sign the contract with Newmark Grubb Frank Hart Industrial Group.

Page 2 July 21, 2016

The Vote was: Yea: R. Sword, S. Gilmer, M. Hincher, C. Elliott Nay: None

APPROVAL OF MINUTES Upon motion made by Mike Hincher, second by Carlton Elliott and duly approved by the Industrial Development Authority of Russell County, Virginia to approve the minutes of June 9", June 22, and June 29" meetings as presented.

The Vote was: Yea: R. Sword, S. Gilmer, M. Hincher, C, Elliott Nay: None

FINANCIAL REPORT Financial report was presented by Carlton Elliott

Upon motion made by Mike Hincher, second by Roger Sword, and duly approved by the Industrial Development Authority of Russell County, Virginia to approve the Financial Report of June 30, 2016 as presented and to pay all bills as presented with the following additions;

Bailey Engineering $4000.00 Chafin Law Firm $2799.50

The Vote was:

Yea: R. Sword, S. Gilmer, M. Hincher Nay: None

Abstain: C. Elliott

ATTORNEY’S REPORT The plat for the shell building has been completed and the contract with Newmark Grubb Frank Hart Industrial Group has been updated and ready to sign.

Page 3 July 21, 2016

The Vote was: Yea: R. Sword, S. Gilmer, M. Hincher, C. Elliott Nay: None

Mrs. Potts with the daycare center has been given a letter of intent for the land grant.

Mr. Chafin reported Appalachian Biofuels is in default with the Tobacco Commission grant and suggests taking a more aggressive approach with collections.

Upon motion made by Roger Sword, second by Scott Gilmer and duly approved by the Industrial Development Authority of Russell County, Virginia authorizing the Attorney to take necessary action in collecting Tobacco Commission Funds due from Appalachian Biofuels.

The Vote was: Yea: R. Sword, S. Gilmer, M. Hincher, C. Elliott Nay: None

Mr. Chafin reported 3B Consulting is in default with the Tobacco Commission grant and suggests preparing an extension request due to delays in construction of the 3B office building.

Upon motion made by Roger Sword, second by Mike Hincher and duly

approved by the Industrial Development Authority of Russell County, Virginia authorizing the Attorney to prepare an extension request to the Tobacco Commission for 3B Consulting.

The Vote was: Yea: R. Sword, S. Gilmer, M. Hincher, C. Elliott Nay: None

COMMITTEE REPORT The Chairman appointed Roger Sword and Carlton Elliott to the Buildings Committee.

The Chairman appointed Mike Hincher and Carlton Elliott to the Finance Committee.

Page 3 July 21, 2016

The Vote was: Yea: R. Sword, S. Gilmer, M. Hincher, C. Elliott Nay: None

Mrs. Potts with the daycare center has been given a letter of intent for the land grant.

Mr. Chafin reported Appalachian Biofuels is in default with the Tobacco Commission grant and suggests taking a more aggressive approach with collections.

The Vote was: Yea: R. Sword, S. Gilmer, M. Hincher, C. Elliott Nay: None

Mr. Chafin reported 3B Consulting is in default with the Tobacco Commission grant and suggests preparing an extension request due to delays in construction of the 3B office building.

Upon motion made by Roger Sword, second by Mike Hincher and duly approved by the Industrial Development Authority of Russell County, Virginia authorizing the Attorney to prepare an extension request to the Tobacco Commission for 3B Consulting.

The Vote was: Yea: R. Sword, S. Gilmer, M. Hincher, C. Elliott Nay: None

COMMITTEE REPORT The Chairman appointed Roger Sword and Carlton Elliott to the Buildings Committee.

The Chairman appointed Mike Hincher and Carlton Elliott to the Finance Committee.

Page 4 July 21, 2016

The Chairman appointed Roger Sword and Scott Gilmer to the Prospect

Committee.

The Chairman directed the building committee to meet with the director of DSS in reference to obtaining a renewed lease.

NEW BUSINESS

Election of Officers: The Chairman relinquished the Chair to the Attorney.

Nomination of Becki Joyce made by Roger Sword, second by Scott Gilmer for Chairman.

No further nominations.

The Vote was: Yea: R. Sword, S. Gilmer, M. Hincher, C. Elliott Nay: None

The Attorney returned the Chair to the Chairman

Nomination of Roger Sword made by Scott Gilmer, second by Carlton

Elliott for Vice-Chairman. No further nominations.

The Vote was: Yea: S. Gilmer, M. Hincher, C. Elliott Nay: None

Nomination of Carlton Elliott made by Mike Hincher, second by Scott Gilmer for Secretary/Treasurer

No further nominations.

The Vote was: Yea: S. Gilmer, M. Hincher, R. Sword Nay: None

Page 4 July 21, 2016

The Chairman appointed Roger Sword and Scott Gilmer to the Prospect Committee.

The Chairman directed the building committee to meet with the director of DSS in reference to obtaining a renewed lease.

NEW BUSINESS Election of Officers:

The Chairman relinquished the Chair to the Attorney.

Nomination of Becki Joyce made by Roger Sword, second by Scott Gilmer for Chairman. No further nominations.

The Vote was: Yea: R. Sword, S. Gilmer, M. Hincher, C. Elliott Nay: None

The Attorney returned the Chair to the Chairman

Nomination of Roger Sword made by Scott Gilmer, second by Carlton Elliott for Vice-Chairman. No further nominations.

The Vote was: Yea: S. Gilmer, M. Hincher, C. Elliott Nay: None

Nomination of Carlton Elliott made by Mike Hincher, second by Scott Gilmer for Secretary/Treasurer No further nominations.

The Vote was: Yea: S. Gilmer, M. Hincher, R. Sword Nay: None

Page 5 July 21, 2016

Upon motion made by Mike Hincher, second by Roger Sword and duly

approved by the Industrial Development Authority of Russell County, Virginia recognizing the resignations of Tony Dodi, Jay Boyd, Mike Duty, Sam Whited, and Tom Cook.

The Vote was: Yea: R. Sword, S. Gilmer, M. Hincher, C. Elliott Nay: None

Upon motion made by Roger Sword, second by Scott Gilmer and duly approved by the Industrial Development Authority of Russell County, Virginia authorizing the Attorney and Carlton Elliott to prepare a RFP for bookkeeping services for the IDA.

The Vote was: Yea: R. Sword, S. Gilmer, M. Hincher, C. Elliott Nay: None

ADJOURNMENT

The Chairman announced the regular August meeting will be held at the Holiday Inn Express conference room August 11, 2016 at 5:00 P.M.

Upon motion made by Mike Hincher, second by Roger Sword, and duly

approved by the Industrial Development Authority of Russell County, Virginia to adjourn this meeting at 9:23 P.M.

The Vote was: Yea: R. Sword, S. Gilmer, M. Hincher, C. Elliott Nay: None

Page 5 July 21, 2016

Upon motion made by Mike Hincher, second by Roger Sword and duly approved by the Industrial Development Authority of Russell County, Virginia recognizing the resignations of Tony Dodi, Jay Boyd, Mike Duty, Sam Whited, and Tom Cook.

The Vote was: Yea: R. Sword, S. Gilmer, M. Hincher, C. Elliott Nay: None

ADJOURNMENT The Chairman announced the regular August meeting will be held at the Holiday Inn Express conference room August 11, 2016 at 5:00 P.M.

Upon motion made by Mike Hincher, second by Roger Sword, and duly approved by the Industrial Development Authority of Russell County, Virginia to adjourn this meeting at 9:23 P.M.

The Vote was: Yea: R. Sword, S. Gilmer, M. Hincher, C. Elliott Nay: None

6,000.00 0.82

463.93 319.40 184.70 184.70 184.70 184.70 184.70 184.70 184.70 184.70

1,516.50 134.00

1,516.00 386.53

25.00 19,147.00

4,000.00 154.88

2,799.50 25.59

Ending Balance:

270,564.48

270,538.89 7/31/2016 Interest Bank Stmnt 270,564.48 7/22/2016 Check 005405 Chafin Law Firm, PC

273,493.27 7/22/2016 Check 002458 Bonanza 273,338.39 7/21/2016 Check 005404 Bailey Engineering

296,640.27 7/21/2016 Check 005403 VACORP 277,493.27 7/21/2016 Check 005402 The University of Virginia’s

297,051.80 7/21/2016 Check 005401 Tyco Simplex Grinnell 296,665.27 7/21/2016 Check 005400 Susan’s Cleaning Service

298,701.80 7/21/2016 Check 005399 Starnes, Inc 298,567.80 7/21/2016 Check 005398 Carlton Elliott

300,403.00 7/21/2016 Check 000234 Joyce, B. 300,218.30 7/21/2016 Check 000233 Hincher, M.

300,772.40 7/21/2016 Check 000232 Cook, E. 300,587.70 7/21/2016 Check 000231 Gilmer, S.

301,141.80 7/21/2016 Check 000230 Boyd, J. 300,957.10 7/21/2016 Check 000229 Whited, S.

301,511.20 7/21/2016 Check 000228 Sword, R. 301,326.50 7/21/2016 Check 000227 Duty, M.

302,015.30 7/21/2016 Check 000226 Dodi, N. 301,695.90 7/15/2016 Check W00039 Internal Revenue Service 7/15/2016 Deposit Close Contribution 302,479.23

Beginning Balance:

308,478.41

7/11/2016 Check 005397 Sign Shop 302,478.41

Comment/ Document Amount

Bank BalanceCheck Payee Name

Document/ Check

Docume nt Type

Check Numbe r

Bank Recap Report For All Document Types Document Date Range: From: 070116 To: 073116

IDA of Russell County VA (IDA)

Bank Code: FB&T Operating Account

Bank Recap Report For All Document Types Document Date Range: From: 070116 To: 073146

IDA of Russell County VA (IDA)

Bank Code: FB&T Operating Account

Document’ Docume Check Comment! Document Bank ‘Check rt Numbe Check Payee Name ‘Amount Balance Tye or Beginning 308,478.41 Balance:

7/1112016 Check 005397 Sign Shop 6,000.00 302,478.41 7/1512016 Deposit Close Contribution 0.82 302,479.23, 7/1512016 Check W0003! _Internal Revenue Service 463.93 302,015.30 7/2112016 Check 000226 Dodi, N. 319.40 301,695.90 712112016 Check 000227 Duty, M 184.70 301,511.20 712112016 Check 000228 Sword, R. 184.70 301,326.50 712112016 Check 000229 Whited, S. 184.70 301,141.80 712112016 Check 000230 Boyd, J 184.70 300,957.10 7/2112016 Check 000231 Gilmer, S. 184.70 300,772.40 7/2112016 Check 000232 Cook, E. 184.70 300,587.70 7/2112016 Check 000233 _-Hincher, M. 184.70 300,403.00 712112016 Check 000234 Joyce, B. 184.70 300,218.30 712112016 Check 005398 Carlton Elliott 1,516.50 298,701.80 712112016 Check 005399 Starnes, Inc 134,00 298,567.80, 7/2112016 Check 005400 Susan’s Cleaning Service ‘1,516.00 297,051.80 7/2112016 Check 005401 Tyco Simplex Grinnell 386.53 296,665.27 7/2112016 Check 005402 The University of Virginia’s 25.00 296,640.27 7/2112016 Check 005403 VACORP 19,147.00 277,493.27 712112016 Check 005404 Bailey Engineering 4,000.00 273,493.27 712212016 Check 002458 Bonanza 154.88 273,338.39, 712212018 Check 005405 Chafin Law Firm, PC 2,799.50 270,538.89 7/3112016 Interest Bank Stmnt 25.59 270,564.48,

Ending 270,564.48 Balance:

3,247.30 2,599.45

4,779.74

2,685.10

5,287.86 18,599.457/14/2016 Depos Deposit 282.74

13,028.85-

6/30/2016 Check 002463 Virginia Small Business 18,316.71-

6/30/2016 Check 002462 Virginia Coalfield Economic

5,564.01-

6/30/2016 Check 002461 Virginia Coalfield Economic 10,343.75-

6/30/2016 Check 002460 Virginia Coalfield Economic

Beginning Balance: 282.74

6/30/2016 Check 002459 Cumberland Plateau 2,964.56-

Comment/ Document Amount

Bank BalanceCheck Payee Name

Document/ Check

Docum ent Type

Check Number

e c

Bank Recap Report For All Document Types Document Date Range: From: 063016 To: 073116

IDA of Russell County VA (IDA) Bank Code: FB&T Motel Account

Bank Recap Report For All Document Types Document Date Range: From: 063016 To: 073146

IDA of Russell County VA (IDA)

FB&T Motel Account

Document) Docu Check Comment! Document Bank Check ent” —-Number_— Check Payee Name ‘mount alence Beginning Balance 282.74 6/3012016 Check 002459 Cumberland Plateau 3,247.30 2,964.56. 6/30/2016 Check 002460 Virginia Coalfield Economic 2,599.45, 5,564.01- 6/30/2016 Check 002461 Virginia Coalfield Economic 4.77974 10,343.75. 6/30/2016 Check 002462 Virginia Coalfield Economic 2,685.10 13,028.85- 6130/2016 Check 002463. Virginia Small Business 528786 18,316.71-

7/42016 Depos Deposit 18,599.45, 282.74

22,099.16 12,266.19

5.64 Ending 7,637.19

7,631.55 7/31/2016 Interest Bank Stmnt 7,637.19 7/21/2016 Check 002654 Virginia Coalfield

Beginning Balance:

41,996.90

7/21/2016 Check 002653 Town of Lebanon VA 19,897.74

Comment/ Document Amount

Bank BalanceCheck Payee Name

Document/ Check

Document Type

Check Number

Bank Recap Report For All Document Types Document Date Range: From: 070116 To: 073116

IDA of Russell County VA (IDA) Bank Code: FB&T - Steel Fab

Bank Recap Report For All Document Types Document Date Range: From: 070116 To: 073146

BakCods: FB&T - Steel Fab Document) Document” Check Comment Cheek Type” Number Ghack Payee Name

712112016 Check 002653 Town of Lebanon VA 7/2112016 Check 002654 Virginia Coalfield 7/3112016 Interest Bank Stmnt

IDA of Russell County VA (IDA)

Document

Beginning

Balance: 22,099.16 12,266.19 5.64 Ending

Bank

41,996.90

19,897.74 7,631.55 7,637.19 7,637.19

Government Center Rents Collected

17903.33

[SUSANS CU

EANING SERVICE

7261 WARNER SUB-DIVISION RD -

= LEBANON-VA 21766

Dmme AMOUNT: Cleaning ely Bore July daly Sg

[duly ’ 19 -iaus aa . 1 Spor _cuean casper TOTAL a 8 510° Drank you

Surew y Bakery

STARNES, INC.

Phone:276 889-2410 Fax: 276 889-2246 www. stamesinc. com [email protected],

Date: 08/01/16

Bill To: Russell County IDA Customer No.: Rus Co IDA P.O. Box 2378 : Lebanon, VA 24266 Invoice No.: 63754

Attention:Carlton Elliott

Department Tams “Due Dale P.O. Number ‘Technician Maintenance Due in 30 Days 08/31/16 August Quantity | Item 1D Description Unit Price Extended Amount 1.00 Maintenance — Social Services, Health Dept €6.00 66.00 Invoice Total 66.00 Less Payments Received 0.00 Total Due $ 66.00

Remit with one copy of invoice to:

Starnes, Inc. THANK YOU! PO. Box 2259

Lebanon, VA 24266

Service Address:

Carlton Elliott PO Box 1396 Lebanon, VA 24266

Invoice July 31, 2016 Russell County IDA PO Box 2378 Lebanon, VA 24266

| am requesting reimbursement for the PO Box Rent in the amount of $116.00 The receipt is attached.

Sincerely,

Carlton Elliott

LEBANON 304 ¥ MAIN ST LEBANON i) 24266-9998 5150521266

9:12 AM

Product Sale Final Description ary’ Price i-¥r Box $110.00

(Box ZIP Code: 24266)

(Box Number :2378)

(Box Size:Size 3 - 11 in x 5.5 in) (Rental Period: Annual)

(Rental Start Date:07/30/2016) (Next Renewal Date:07/31/2017)

Key Fee $0.00 (Keys Del ivered:2)

Key Deposit $6.00 ‘(Key Count:2) (Key Nunber 06678)

Total $116.00

Cash $116.00

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