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The Industrial Development Authority
of Russell County, Virginia
Agenda Packet
Thursday, September 8, 2016
Bonanza Family Restaurant
5:00 P.M.
The Industrial Development Authority
of Russell County, Virginia
Agenda Packet
Thursday, September 8, 2016
Bonanza Family Restaurant
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
ny pe
Personnel
Acquisition/Sale of Property
Privacy of Individuals
Prospective Business
Legal
September 8, 2016
AGENDA
The Industrial Development Authority of Russell County Virginia will hold its
regular monthly meeting on September 8, 2016, at Bonanza Family Restaurant, Main
Street, Lebanon, Virginia, and beginning at 5:00 PM.

Call to Order
Roll Call
Welcome Guests

a. David Sutherland, Mayor of Cleveland
b. Charles Willard (tentative)

Approval of  Minutes
Approval of Financial and Treasurer’s Report
Committee Reports
Attorney’s Report
Old Business

a. Review Loans and Leases
b. Daycare
c. Adventure Outdoor – Cleveland
d. DSS Lease
e. Board Compensation


New Business
a. Update from Developer’s Meeting & USDA Roundtable
b. New Member Orientation


Closed Session as permitted by Virginia Code #2.2-3711


Adjourn Meeting


Attachments
a. Debt & Asset Schedule (Page A1)
September 8, 2016
AGENDA
The Industrial Development Authority of Russell County Virginia will hold its
regular monthly meeting on September 8, 2016, at Bonanza Family Restaurant, Main
Street, Lebanon, Virginia, and beginning at 5:00 PM.





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Call to Order
Roll Call
Welcome Guests
a. David Sutherland, Mayor of Cleveland
b. Charles Willard (tentative)
Approval of Minutes
Approval of Financial and Treasurer’s Report
Committee Reports
Attorney’s Report
Old Business
Review Loans and Leases
Daycare
Adventure Outdoor — Cleveland
DSS Lease
e. Board Compensation
New Business
a. Update from Developer’s Meeting & USDA Roundtable
b. New Member Orientation
eooo
Closed Session as permitted by Virginia Code #2.2-3711
Adjourn Meeting
Attachments
a. Debt & Asset Schedule (Page A1)
August 11, 2016
The Regular monthly meeting of the Industrial Development Authority of
Russell County, Virginia was held on  August 11, 2016, at the Holiday Inn,
Lebanon, Virginia, and beginning at 5:00 P.M.
MEMBERS

PRESENT:    Becki Joyce, Chairman
Roger Sword, Vice Chairman
Scott Gilmer, Member
Mike Hincher, Member
David Mullins, Member
Ernie McFaddin, Member
Carlton Elliott, Member
ABSENT:  Richard Lockridge
STAFF:  Katie Patton, Attorney
Lonzo Lester, County Administrator
Joey Gillespie, Advisor
GUESTS:  Lou Ann Wallace, Board of Supervisors
Carl Rhea, Board of Supervisors
Jonathan Belcher, VCEDA
Jamie Oliver, Holiday Inn
David Wallace, Citizen
The Chairman called the meeting to order at 5:04 P.M.
Secretary called the roll and recorded the roll call.
REPORT FROM HOLIDAY INN
Mr. Jamie Oliver reported the Holiday Inn is doing well, and are planning
some capital improvements. The Holiday Inn also wants to implement new
marketing strategies to capture a larger market share.  The Holiday Inn and
VCEDA have reached an agreement on the payment terms of the note with
Lebanon Inn LLC. Mr. Belcher with VCEDA will give the board further details of
the agreement. Mr. Oliver looks for a bright future for the Holiday Inn.
August 11, 2016
The Regular monthly meeting of the Industrial Development Authority of
Russell County, Virginia was held on August 11, 2016, at the Holiday Inn,
Lebanon, Virginia, and beginning at 5:00 P.M.
MEMBERS
PRESENT:
ABSENT:
STAFF:
GUESTS:
Becki Joyce, Chairman
Roger Sword, Vice Chairman
Scott Gilmer, Member
Mike Hincher, Member
David Mullins, Member
Ernie McFaddin, Member
Carlton Elliott, Member
Richard Lockridge
Katie Patton, Attorney
Lonzo Lester, County Administrator
Jocy Gillespie, Advisor
Lou Ann Wallace, Board of Supervisors
Carl Rhea, Board of Supervisors
Jonathan Belcher, VCEDA
Jamie Oliver, Holiday Inn
David Wallace, Citizen
The Chairman called the meeting to order at 5:04 P.M.
Secretary called the roll and recorded the roll call.
REPORT FROM HOLIDAY INN
Mr. Jamie Oliver reported the Holiday Inn is doing well, and are planning
some capital improvements. The Holiday Inn also wants to implement new
marketing strategies to capture a larger market share. The Holiday Inn and
VCEDA have reached an agreement on the payment terms of the note with
Lebanon Inn LLC. Mr. Belcher with VCEDA will give the board further details of
the agreement. Mr. Oliver looks for a bright future for the Holiday Inn.
Page 2
August 11, 2016
REPORT FROM VCEDA
Mr. Belcher reported the lease payment agreement Lebanon Inn, LLC
previously was based on 50% of net profit, which caused some misinterpretation.
The new proposal will increase the regular payment by $1,300.00 per month for a
total of $8,900.00 per month. Mr. Belcher asked for a letter from the IDA
accepting the terms of the new lease.
Upon motion made by Roger Sword, second by Carlton Elliott and duly
approved by the Industrial Development Authority of Russell County, Virginia
approving the new lease agreement with Lebanon Inn LLC upon review by the
Attorney.
The Vote was:
Yea: R. Sword, S. Gilmer, M. Hincher, C. Elliott, E. McFaddin, D. Mullins
Nay: None
Absent: R. Lockridge
Mr. Belcher informed the board the utilities grant and building fund loan, for
the shell building, is close to expiration and needs to be extended.
Upon motion made by Mike Hincher, second by Roger Sword and duly
approved by the Industrial Development Authority of Russell County, Virginia
authorizing the attorney to prepare a letter of extension for the utilities grant and
the building fund loan.
The Vote was:
Yea: R. Sword, S. Gilmer, M. Hincher, C. Elliott, E. McFaddin, D. Mullins
Nay: None
Absent: R. Lockridge
Mr. Belcher gave the IDA board an overview of the purpose and vision of
VCEDA.
PUBLIC COMMENT
Mr. David Wallace reported his desire to install a zip line facility on his
property. This project would be in conjunction with Adventure Solutions US. The
board suggested possible funding avenues; no action was taken at this time.
Page 2
‘August 11, 2016
REPORT FROM VCEDA
Mr. Belcher reported the lease payment agreement Lebanon Inn, LLC
previously was based on 50% of net profit, which caused some misinterpretation.
The new proposal will increase the regular payment by $1,300.00 per month for a
total of $8,900.00 per month. Mr. Belcher asked for a letter from the IDA
accepting the terms of the new lease.
Upon motion made by Roger Sword, second by Carlton Elliott and duly
approved by the Industrial Development Authority of Russell County, Virginia
approving the new lease agreement with Lebanon Inn LLC upon review by the
Attorney.
The Vote was:
Yea: R. Sword, S. Gilmer, M. Hincher, C. Elliott, E. McFaddin, D, Mullins
Nay: None
Absent: R. Lockridge
Mr. Belcher informed the board the utilities grant and building fund loan, for
the shell building, is close to expiration and needs to be extended.
Upon motion made by Mike Hincher, second by Roger Sword and duly
approved by the Industrial Development Authority of Russell County, Virginia
authorizing the attorney to prepare a letter of extension for the utilities grant and
the building fund loan.
The Vote was:
Yea: R. Sword, S. Gilmer, M. Hincher, C. Elliott, E. McFaddin, D. Mullins
Nay: None
Absent: R. Lockridge
Mr. Belcher gave the IDA board an overview of the purpose and vision of
VCEDA.
PUBLIC COMMENT
Mr. David Wallace reported his desire to install a zip line facility on his
property. This project would be in conjunction with Adventure Solutions US. The
board suggested possible funding avenues; no action was taken at this time.
Page 3
August 11, 2016
APPROVAL OF MINUTES
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 minutes of July 21st meetings adding a footnote that only two BOS
members were present simultaneously.
The Vote was:
Yea: R. Sword, S. Gilmer, M. Hincher, C. Elliott, E. McFaddin, D. Mullins
Nay: None
Absent: R. Lockridge
FINANCIAL REPORT
Financial report was presented by Carlton Elliott
Upon motion made by Mike Hincher, second by David Mullins, and duly
approved by the Industrial Development Authority of Russell County, Virginia to
approve the Financial Report of August 11, 2016 as presented and to pay all bills
as presented with the following additions;
Thermco $669.97
The Vote was:
Yea: R. Sword, S. Gilmer, M. Hincher, C. Elliott, E. McFaddin, D. Mullins
Nay: None
Absent: R. Lockridge
ATTORNEY’S REPORT
The Attorney reported on the letter sent to Chuck Lessin of Appalachian
Biofuels. The letter request the Tobacco Grant money to be returned by August 31,
2016.
The Attorney presented a draft of the Industrial Facilities Agreement with
Mrs. Potts of the Daycare facility to be presented to Tru-Point Bank.
COMMITTEE REPORT
The property committee met with DSS to discuss the possibility of
increasing the rent by $300.00 per month. The IDA agrees to update the entrance
to automatic doors for ADA compliance and other minor repairs.
Page 3
‘August 11, 2016
APPROVAL OF MINUTES
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 minutes of July 21" meetings adding a footnote that only two BOS
members were present simultaneously.
The Vote was:
Yea: R. Sword, S. Gilmer, M. Hincher, C. Elliott, E. McFaddin, D. Mullins
Nay: None
Absent: R. Lockridge
FINANCIAL REPORT
Financial report was presented by Carlton Elliott
Upon motion made by Mike Hincher, second by David Mullins, and duly
approved by the Industrial Development Authority of Russell County, Virginia to
approve the Financial Report of August 11, 2016 as presented and to pay all bills
as presented with the following additions;
[ Thermco [ $669.97 |
The Vote was:
Yea: R. Sword, S. Gilmer, M. Hincher, C. Elliott, E. McFaddin, D. Mullins
Nay: None
Absent: R. Lockridge
ATTORNEY’S REPORT
The Attorney reported on the letter sent to Chuck Lessin of Appalachian
Biofuels. The letter request the Tobacco Grant money to be returned by August 31,
2016.
The Attorney presented a draft of the Industrial Facilities Agreement with
Mrs. Potts of the Daycare facility to be presented to Tru-Point Bank.
COMMITTEE REPORT
The property committee met with DSS to discuss the possibility of
increasing the rent by $300.00 per month. The IDA agrees to update the entrance
to automatic doors for ADA compliance and other minor repairs.
Page 4
August 11, 2016
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 revise the lease reflecting the raise to $6,700.00 per
month.
The Vote was:
Yea: R. Sword, S. Gilmer, M. Hincher, C. Elliott, E. McFaddin, D. Mullins
Nay: None
Absent: R. Lockridge
OLD BUSINESS
The Chairman will meet with Mr. Bill Kahl of Steel Fab to discuss their
future.
AT&T is in need of chairs for a training center in order to hire new
employees. The board discussed ways to possibly assist AT&T in meeting this
goal.
CLOSED SESSION
Upon motion made by Roger Sword, second by Scott Gilmer and duly
approved by the Industrial Development Authority of Russell County, Virginia to
go into Closed Session as permitted by, VA Code#2.2-3711 (1) Personnel (3)
Property (7) Legal Counsel.
The Vote was:
Yea: R. Sword, S. Gilmer, M. Hincher, C. Elliott, E. McFaddin, D. Mullins
Nay: None
Absent: R. Lockridge
RECONVENE TO PUBLIC SESSION
Upon motion made by Mike Hincher, second by Scott Gilmer, and duly
approved by The Industrial Development Authority of Russell County, Virginia,
the Chairman called the meeting back into regular session and requested the
“Certification Motion after reconvening in Public Session”.
The Vote was:
Yea: R. Sword, S. Gilmer, M. Hincher, C. Elliott, E. McFaddin, D. Mullins
Nay: None
Absent: R. Lockridge
Page 4
‘August 11, 2016
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 revise the lease reflecting the raise to $6,700.00 per
month.
The Vote was:
Yea: R. Sword, S. Gilmer, M. Hincher, C. Elliott, E. McFaddin, D. Mullins
Nay: None
Absent: R. Lockridge
OLD BUSINESS
The Chairman will meet with Mr. Bill Kahl of Steel Fab to discuss their
future.
AT&T is in need of chairs for a training center in order to hire new
employees. The board discussed ways to possibly assist AT&T in meeting this
goal.
CLOSED SESSION
Upon motion made by Roger Sword, second by Scott Gilmer and duly
approved by the Industrial Development Authority of Russell County, Virginia to
go into Closed Session as permitted by, VA Code#2.2-3711 (1) Personnel (3)
Property (7) Legal Counsel.
The Vote was:
Yea: R. Sword, S. Gilmer, M. Hincher, C. Elliott, E. McFaddin, D. Mullins
Nay: None
Absent: R. Lockridge
RECONVENE TO PUBLIC SESSION
Upon motion made by Mike Hincher, second by Scott Gilmer, and duly
approved by The Industrial Development Authority of Russell County, Virginia,
the Chairman called the meeting back into regular session and requested the
“Certification Motion after reconvening in Public Session”.
The Vote was:
Yea: R. Sword, S. Gilmer, M. Hincher, C. Elliott, E. McFaddin, D. Mullins
Nay: None
Absent: R. Lockridge
Page 5
August 11, 2016
CERTIFICATION AFTER RECONVENING IN PUBLIC SESSION
The Industrial Development Authority of Russell County, Virginia hereby
certifies that, in the closed session just concluded, nothing was discussed except
the matter or matters (1) specifically identified in the motion to convene in closed
session and (2) lawfully permitted to be so discussed under the provision of the
Virginia Freedom of Information Act cited in that motion.
The Roll Vote Was:
Becki Joyce  Yes   Ernie McFaddin Yes
Carlton Elliott Yes       Davis Mullins Yes
Scott Gilmer Yes   Roger Sword Yes
Mike Hincher Yes   Richard Lockridge Absent
ADJOURNMENT
Upon motion made by Mike Hincher, second by David Mullins, and duly
approved by the Industrial Development Authority of Russell County, Virginia to
adjourn this meeting to reconvene August 29, 2016 at 5:00 PM at the VCEDA
conference room.
The Vote was:
Yea: R. Sword, S. Gilmer, M. Hincher, C. Elliott, E. McFaddin, D. Mullins
Nay: None
Absent: R. Lockridge
Page S
‘August 11, 2016
CERTIFICATION AFTER RECONVENING IN PUBLIC SESSION
The Industrial Development Authority of Russell County, Virginia hereby
certifies that, in the closed session just concluded, nothing was discussed except
the matter or matters (1) specifically identified in the motion to convene in closed
session and (2) lawfully permitted to be so discussed under the provision of the
Virginia Freedom of Information Act cited in that motion.
The Roll Vote Was:
Becki Joyce Yes Emie McFaddin Yes
Carlton Elliott Yes Davis Mullins Yes
Scott Gilmer Yes Roger Sword Yes
Mike Hincher Yes Richard Lockridge Absent
ADJOURNMENT
Upon motion made by Mike Hincher, second by David Mullins, and duly
approved by the Industrial Development Authority of Russell County, Virginia to
adjourn this meeting to reconvene August 29, 2016 at 5:00 PM at the VCEDA
conference room.
The Vote was:
Yea: R. Sword, S. Gilmer, M. Hincher, C. Elliott, E. McFaddin, D, Mullins
Nay: None
Absent: R. Lockridge
August 29, 2016
The August 11, 2016 meeting of the Industrial Development Authority of
Russell County, Virginia was reconvened on August 29, 2016, at the VCEDA
Conference Room, Lebanon, Virginia, and beginning at 5:00 P.M.
MEMBERS

PRESENT:    Becki Joyce, Chairman
Roger Sword, Vice Chairman
Scott Gilmer, Member
Mike Hincher, Member
David Mullins, Member
Ernie McFaddin, Member
Carlton Elliott, Member
ABSENT:  Richard Lockridge
STAFF:  Ben Chafin, Attorney
GUESTS:  Jonathan Belcher, VCEDA
Chuck Lessin, Appalachian Biofuels
Payton Johnson, Appalachian Biofuels
Dean Price, Biodiesel 4 Schools
The Chairman called the meeting to order at 5:07 P.M.
Secretary called the roll and recorded the roll call.
REPORT FROM APPALACHIAN BIOFUELS
Mr. Chuck Lessin reported the Tobacco Commission Funds of $210,000.00
have been spent on the project.  Mr. Lessin asked the board to request a six month
extension on his behalf to the Tobacco Commission.  He would like to try to keep
the project alive with a partnership with Biodiesel 4 Schools.
Upon motion made by Carlton Elliott, second by Ernie McFaddin and duly
approved by the Industrial Development Authority of Russell County, Virginia
authorizing the attorney to prepare a letter to Appalachian Biofuels requesting a
letter of credit for the $210,000.00 and a new financial statement.  Once this
August 29, 2016
The August 11, 2016 meeting of the Industrial Development Authority of
Russell County, Virginia was reconvened on August 29, 2016, at the VCEDA
Conference Room, Lebanon, Virginia, and beginning at 5:00 P.M.
MEMBERS
PRESENT: Becki Joyce, Chairman
Roger Sword, Vice Chairman
Scott Gilmer, Member
Mike Hincher, Member
David Mullins, Member
Ernie McFaddin, Member
Carlton Elliott, Member
ABSENT: Richard Lockridge
STAFF: Ben Chafin, Attorney
GUESTS: Jonathan Belcher, VCEDA
Chuck Lessin, Appalachian Biofuels
Payton Johnson, Appalachian Biofuels
Dean Price, Biodiesel 4 Schools
The Chairman called the meeting to order at 5:07 P.M.
Secretary called the roll and recorded the roll call.
REPORT FROM APPALACHIAN BIOFUELS
Mr. Chuck Lessin reported the Tobacco Commission Funds of $210,000.00
have been spent on the project. Mr. Lessin asked the board to request a six month
extension on his behalf to the Tobacco Commission. He would like to try to keep
the project alive with a partnership with Biodiesel 4 Schools.
Upon motion made by Carlton Elliott, second by Ernie McFaddin and duly
approved by the Industrial Development Authority of Russell County, Virginia
authorizing the attorney to prepare a letter to Appalachian Biofuels requesting a
letter of credit for the $210,000.00 and a new financial statement. Once this
Page 2
August 11, 2016
criterion is met, the IDA will then apply for a 6 month extension from the Tobacco
Commission.
The Vote was:
Yea: R. Sword, S. Gilmer, M. Hincher, C. Elliott, E. McFaddin, D. Mullins
Nay: None
Absent: R. Lockridge
COMMITTEE REPORT
Roger Sword reported the glass in the shell building is being repaired.  The
project is 90% complete and is being done under warranty.
The Elliott property on Big Cedar Creek is now available and will be listed
on the Virginia economic web sites.
DAYCARE CENTER
The Industrial Facilities Agreement is final and ready for board approval.
Upon motion made by Roger Sword, second by Scott Gilmer and duly
approved by the Industrial Development Authority of Russell County, Virginia to
approve and authorize the Chairman to sign the agreement with the Daycare
Center.
The Vote was:
Yea: R. Sword, S. Gilmer, M. Hincher, C. Elliott, E. McFaddin, D. Mullins
Nay: None
Absent: R. Lockridge
OLD BUSINESS
AT&T corporate will not allow the IDA to grant chairs for the training
facility. AT&T is still hopeful in hiring new employees.
The Chairman met with Steel Fab and they are moving some jobs from
Wisconsin to Lebanon. The Lebanon plant has priority on all projects, however
there is a hiring freeze.
Page 2
‘August 11, 2016
criterion is met, the IDA will then apply for a 6 month extension from the Tobacco
Commission.
The Vote was:
Yea: R. Sword, S. Gilmer, M. Hincher, C. Elliott, E. McFaddin, D. Mullins
Nay: None
Absent: R. Lockridge
COMMITTEE REPORT
Roger Sword reported the glass in the shell building is being repaired. The
project is 90% complete and is being done under warranty.
The Elliott property on Big Cedar Creek is now available and will be listed
on the Virginia economic web sites.
DAYCARE CENTER
The Industrial Facilities Agreement is final and ready for board approval.
Upon motion made by Roger Sword, second by Scott Gilmer and duly
approved by the Industrial Development Authority of Russell County, Virginia to
approve and authorize the Chairman to sign the agreement with the Daycare
Center.
The Vote was:
Yea: R. Sword, S. Gilmer, M. Hincher, C. Elliott, E. McFaddin, D. Mullins
Nay: None
Absent: R. Lockridge
OLD BUSINESS
AT&T corporate will not allow the IDA to grant chairs for the training
facility. AT&T is still hopeful in hiring new employees.
The Chairman met with Steel Fab and they are moving some jobs from
Wisconsin to Lebanon. The Lebanon plant has priority on all projects, however
there is a hiring freeze.
Page 3
August 11, 2016
NEW BUSINESS
The Board of Supervisors would like to swap the land granted to them, in the
industrial park, for two acres across from the PSA Building. This property would
be used to construct an animal shelter. No board action was taken at this time.
VCEDA reported they have hired four ambassadors to go to trade shows and
bring leads back to the region.
CLOSED SESSION
Upon motion made by Mike Hincher, second by Carlton Elliott and duly
approved by the Industrial Development Authority of Russell County, Virginia to
go into Closed Session as permitted by, VA Code#2.2-3711 (1) Personnel (5)
Prospective unannounced industry (7) Legal Counsel.
The Vote was:
Yea: R. Sword, S. Gilmer, M. Hincher, C. Elliott, E. McFaddin, D. Mullins
Nay: None
Absent: R. Lockridge
RECONVENE TO PUBLIC SESSION
Upon motion made by Roger Sword, second by Scott Gilmer, and duly
approved by The Industrial Development Authority of Russell County, Virginia,
the Chairman called the meeting back into regular session and requested the
“Certification Motion after reconvening in Public Session”.
The Vote was:
Yea: R. Sword, S. Gilmer, M. Hincher, C. Elliott, E. McFaddin, D. Mullins
Nay: None
Absent: R. Lockridge
CERTIFICATION AFTER RECONVENING IN PUBLIC SESSION
The Industrial Development Authority of Russell County, Virginia hereby
certifies that, in the closed session just concluded, nothing was discussed except
the matter or matters (1) specifically identified in the motion to convene in closed
session and (2) lawfully permitted to be so discussed under the provision of the
Virginia Freedom of Information Act cited in that motion.
Page 3
‘August 11, 2016
NEW BUSINESS
The Board of Supervisors would like to swap the land granted to them, in the
industrial park, for two acres across from the PSA Building. This property would
be used to construct an animal shelter. No board action was taken at this time.
VCEDA reported they have hired four ambassadors to go to trade shows and
bring leads back to the region.
CLOSED SESSION
Upon motion made by Mike Hincher, second by Carlton Elliott and duly
approved by the Industrial Development Authority of Russell County, Virginia to
go into Closed Session as permitted by, VA Code#2.2-3711 (1) Personnel (5)
Prospective unannounced industry (7) Legal Counsel.
The Vote was
Yea: R. Sword, S. Gilmer, M. Hincher, C. Elliott, E. McFaddin, D. Mullins
Nay: None
Absent: R. Lockridge
RECONVENE TO PUBLIC SESSION
Upon motion made by Roger Sword, second by Scott Gilmer, and duly
approved by The Industrial Development Authority of Russell County, Virginia,
the Chairman called the meeting back into regular session and requested the
“Certification Motion after reconvening in Public Session”.
The Vote was:
Yea: R. Sword, S. Gilmer, M. Hincher, C. Elliott, E. McFaddin, D. Mullins
Nay: None
Absent: R. Lockridge
CERTIFICATION AFTER RECONVENING IN PUBLIC SESSION
The Industrial Development Authority of Russell County, Virginia hereby
certifies that, in the closed session just concluded, nothing was discussed except
the matter or matters (1) specifically identified in the motion to convene in closed
session and (2) lawfully permitted to be so discussed under the provision of the
Virginia Freedom of Information Act cited in that motion.
Page 4
August 11, 2016
The Roll Vote Was:
Becki Joyce  Yes   Ernie McFaddin Yes
Carlton Elliott Yes       Davis Mullins Yes
Scott Gilmer Yes   Roger Sword Yes
Mike Hincher Yes   Richard Lockridge Absent
FINANCIAL REPORT
The secretary presented the board with a report of the board’s assets and debts.
ADJOURNMENT
Upon motion made by Mike Hincher, second by David Mullins, and duly
approved by the Industrial Development Authority of Russell County, Virginia to
adjourn this meeting at 8:36 PM
The Vote was:
Yea: R. Sword, S. Gilmer, M. Hincher, C. Elliott, E. McFaddin, D. Mullins
Nay: None
Absent: R. Lockridge
The Roll Vote Was:
Becki Joyce Yes
Carlton Elliott Yes
Scott Gilmer Yes
Mike Hincher Yes
Page 4
‘August 11, 2016
Ernie McFaddin Yes
Davis Mullins Yes
Roger Sword Yes
Richard Lockridge Absent
FINANCIAL REPORT
The secretary presented the board with a report of the board’s assets and debts.
ADJOURNMENT
Upon motion made by Mike Hincher, second by David Mullins, and duly
approved by the Industrial Development Authority of Russell County, Virginia to
adjourn this meeting at 8:36 PM
The Vote was:
Yea: R. Sword, S. Gilmer, M. Hincher, C. Elliott, E. McFaddin, D. Mullins
Nay: None
Absent: R. Lockridge
IDA of Russell County VA (IDA)
Bank Recap Report
Document Date Range: From: 080116 To: 083116
For All Document Types
Bank Code:
Document/
Check
Document
Type
Check
Number
Check
Type
Reference
Number
Cleared
Bank
Document
Amount
Bank
Balance
Source
Module
A FB&T Operating Account
Comment/
Check Payee Name
Cleared
Date
Beginning Balance: 270,564.48
8/9/2016 Deposit CASH RECEIPT DEPOSITAR DEPOSIT 7,981.00 278,545.48 8/31/2016Yes
8/9/2016 Deposit DepositGL 132 16,759.69 295,305.17 8/31/2016Yes
8/11/2016 Check Auto Sword, R.PR 000235 000000005 184.70 295,120.47 8/31/2016Yes
8/11/2016 Check Auto Hincher, M.PR 000236 000000011 184.70 294,935.77 8/31/2016Yes
8/11/2016 Check Auto Joyce, B.PR 000237 000000012 184.70 294,751.07 8/31/2016Yes
8/11/2016 Check Auto Elliott, C.PR 000238 000000013 184.70 294,566.37 8/31/2016Yes
8/11/2016 Check Auto Gilmer, S.PR 000239 000000009 184.70 294,381.67 8/31/2016Yes
8/11/2016 Check Auto Carlton ElliottAP 005407 00ELLCAR 116.00 294,265.67 No
8/11/2016 Check Auto Russell County BoardAP 005408 00RCBOS 17,903.33 276,362.34 8/31/2016Yes
8/11/2016 Check Auto Starnes, IncAP 005409 00STARNES 66.00 276,296.34 8/31/2016Yes
8/11/2016 Check Auto Susan’s Cleaning Service IncAP 005410 00SUSCLE 1,516.00 274,780.34 8/31/2016Yes
8/11/2016 Check Auto ThermcoAP 005411 00THERMCO 669.97 274,110.37 8/31/2016Yes
8/14/2016 Deposit DepositGL 133 13,625.00 287,735.37 8/31/2016Yes
8/14/2016 Deposit CASH RECEIPT DEPOSITAR DEPOSIT 740.00 288,475.37 8/31/2016Yes
8/15/2016 Check Manual Internal Revenue ServiceAP W00040 00IRS 356.00 288,119.37 8/31/2016Yes
8/29/2016 Check Manual BonanzaAP 005412 00BONANZA 48.97 288,070.40 No
8/31/2016 Interest Bank StmntBR INTEREST 24.78 288,095.18 8/31/2016Yes
Ending Balance: 288,095.18
Document Type Summary For Bank Code A:
Number Of Document AmountDocument Type
Checks 12 21,599.77
Deposits 4 39,105.69
Interest Earned 1 24.78
Run Date:
B/R Date:
Page:1
8/31/2016
9/7/2016  10:21:20PM
Bank Recap Report
For All Document Types
Document Date Range: From: 080116 To: 063116
IDA of Russell County VA DA)
‘enced A FBR Opwatng Acne
Beaming ence OSA
‘noun sm06 128200 Poa
IDA of Russell County VA (IDA)
Bank Recap Report
Document Date Range: From: 080116 To: 082316
For All Document Types
Bank Code:
Document/
Check
Document
Type
Check
Number
Check
Type
Reference
Number
Cleared
Bank
Document
Amount
Bank
Balance
Source
Module
B FB&T Motel Account
Comment/
Check Payee Name
Cleared
Date
Beginning Balance: 282.74
8/8/2016 Check Auto Cumberland PlateauAP 002465 00CPPD 3,247.30 2,964.56-8/31/2016Yes
8/8/2016 Check Reversal Virginia Coalfield EconomicAP 002466 00VCEDA 7,464.84- 4,500.28 8/31/2016Yes
8/8/2016 Check Auto Virginia Coalfield EconomicAP 002466 00VCEDA 7,464.84 2,964.56-8/31/2016Yes
8/8/2016 Check Auto Virginia Coalfield EconomicAP 002467 00VCEDA 2,599.45 5,564.01-8/31/2016Yes
Motel Payment
8/8/2016 Check Auto Virginia Small BusinessAP 002468 00VSBFA 5,287.86 10,851.87-8/31/2016Yes
8/9/2016 Deposit DepositGL 55 18,599.45 7,747.58 8/31/2016Yes
8/23/2016 Check Auto Virginia Coalfield EconomicAP 002469 00VCEDA 4,779.74 2,967.84 No
8/23/2016 Check Auto Virginia Coalfield EconomicAP 002470 00VCEDA 2,685.10 282.74 No
Ending Balance: 282.74
Document Type Summary For Bank Code B:
Number Of Document AmountDocument Type
Checks 7 18,599.45
Deposits 1 18,599.45
Run Date:
B/R Date:
Page:1
8/31/2016
9/7/2016  10:20:39PM
Bank Recap Report
For All Document Types
Document Date Range: From: 080116 To: 062316
IDA of Russell County VA DA)
‘ean anew: aa
DoamentType __—_Mamberot oat Amount
‘noun 97206 102090 Poot
IDA of Russell County VA (IDA)
Bank Recap Report
Document Date Range: From: 080116 To: 083116
For All Document Types
Bank Code:
Document/
Check
Document
Type
Check
Number
Check
Type
Reference
Number
Cleared
Bank
Document
Amount
Bank
Balance
Source
Module
H FB&T - Steel Fab
Comment/
Check Payee Name
Cleared
Date
Beginning Balance: 7,637.19
8/8/2016 Deposit DepositGL 64 35,145.98 42,783.17 6/30/2016Yes
8/8/2016 Check Auto Town of Lebanon VAAP 002655 00TOL 22,099.16 20,684.01 8/31/2016Yes
8/8/2016 Check Auto Virginia Coalfield EconomicAP 002656 00VCEDA 12,274.38 8,409.63 8/31/2016Yes
8/9/2016 Deposit DepositGL 63 35,145.98 43,555.61 8/31/2016Yes
8/31/2016 Interest Bank StmntBR INTEREST 4.47 43,560.08 8/31/2016Yes
Ending Balance: 43,560.08
Document Type Summary For Bank Code H:
Number Of Document AmountDocument Type
Checks 2 34,373.54
Deposits 2 70,291.96
Interest Earned 1 4.47
Run Date:
B/R Date:
Page:1
8/31/2016
9/7/2016  10:21:46PM
Bank Recap Report
For All Document Types
Document Date Range: From: 080116 To: 063116 sont nara coun VA on)
= “Beginning Balance: 7697.19
eer oemevinm
a vm
Government Center Rents Collected
Date Description Amount
8/14/2016 WIB 740.00
8/14/2016 3B Consulting 3,500.00
9/7/2016 WIB 740.00
9/7/2016 VA Coal 4,530.68
9/7/2016 Social Serv 6,400.00
9/7/2016 DMME 5,763.64
21,674.32
Government Center Rents Collected
Date Description [Amount
8/14/2016|WiB 740.00
8/14/2016|3B Consulting 3,500.00}
9/7/2016|wiB. 740.00]
9/7/2016|VA Coal 4,530.68
9/7/2016] Social Serv 6,400.00)
9/7/2016|DMME 5,763.64
21,674.32
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