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The Industrial Development Authority
of Russell County, Virginia
Agenda Packet
Thursday, January 12, 2017
Jefferson Room @ Higher Education Center
5:30 P.M.
The Industrial Development Authority
of Russell County, Virginia
Agenda Packet
Thursday, January 12, 2017
Jefferson Room @ Higher Education Center
5:30 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
December 8, 2016
The Regular monthly meeting of the Industrial Development Authority of
Russell County, Virginia was held on  December 8, 2016, at 5:30 P.M. at Bonanza
Family Restaurant, Main Street, Lebanon, Virginia.
MEMBERS

PRESENT:    Becki Joyce, Chairman
Roger Sword, Vice Chairman
Richard Lockridge
Jarred Glass, Member
Ernie McFaddin, Member
Carlton Elliott, Member
Scott Gilmer, Member
ABSENT  Mike Hincher, Member
David Mullins, Member
STAFF:  Katie Patton, Attorney
The Chairman called the meeting to order at 5:33P.M.
Secretary called the roll and recorded the roll call.
APPROVAL OF MINUTES
Upon motion made by Scott Gilmer, second by Ernie McFaddin and duly
approved by the Industrial Development Authority of Russell County, Virginia to
approve the minutes of November 10, 2016 meeting.
The Vote was:
Yea: R. Sword, J. Glass, C. Elliott, E. McFaddin, R. Lockridge, S. Gilmer,

Nay: None
Absent: M. Hincher, D. Mullins
December 8, 2016
The Regular monthly meeting of the Industrial Development Authority of
Russell County, Virginia was held on December 8, 2016, at 5:30 P.M. at Bonanza
Family Restaurant, Main Street, Lebanon, Virginia.
MEMBERS
PRESENT: Becki Joyce, Chairman
Roger Sword, Vice Chairman
Richard Lockridge
Jarred Glass, Member
Emie McFaddin, Member
Carlton Elliott, Member
Scott Gilmer, Member
ABSENT Mike Hincher, Member
David Mullins, Member
STAFF: Katie Patton, Attorney
The Chairman called the meeting to order at 5:33P.M.
Secretary called the roll and recorded the roll call.
APPROVAL OF MINUTES
Upon motion made by Scott Gilmer, second by Ernie McFaddin and duly
approved by the Industrial Development Authority of Russell County, Virginia to
approve the minutes of November 10, 2016 meeting.
The Vote was:
Yea: R. Sword, J. Glass, C. Elliott, E. McFaddin, R. Lockridge, S. Gilmer,
Nay: None
Absent: M. Hincher, D. Mullins
Page 2
December 8, 2016
FINANCIAL REPORT
Financial report was presented by Carlton Elliott
Upon motion made by Roger Sword, second by Richard Lockridge, and duly
approved by the Industrial Development Authority of Russell County, Virginia to
approve the Financial Report of December 8, 2016 as presented.
The Vote was:
Yea: R. Sword, J. Glass, C. Elliott, E. McFaddin, R. Lockridge, S. Gilmer,

Nay: None
Absent: M. Hincher, D. Mullins
ADJOURNMENT
Upon motion made by Ernie McFaddin, second by Richard Lockridge, and
duly approved by the Industrial Development Authority of Russell County,
Virginia to adjourn to reconvene at The Holiday Inn Express, Lebanon, VA.
The Vote was:
Yea: R. Sword, J. Glass, C. Elliott, E. McFaddin, R. Lockridge, S. Gilmer,

Nay: None
Absent: M. Hincher, D. Mullins
RECONVENE
The Chairman reconvened the meeting at 7:58PM at the Holiday Inn
Express conference room.
COMMITTEE REPORT
Richard Lockridge reported on the prospect committee meeting. Goals of the
prospect committee and plans to implement these goals were discussed.
Becki Joyce reported Dr. Brown & Mr. Fletcher of Russe1l County Schools
toured the Steel Fab facility. The school system wants to develop a curriculum to
match the employment needs of Steel Fab.
Becki Joyce reported the Legislative Reception will be on January 26, 2017
in Richmond. Plans and meeting schedules were discussed for the event.
Ernie McFaddin reported an estimate for the automatic doors at the DSS
facility would be $10,642.00.
Page 2
December 8, 2016
FINANCIAL REPORT
Financial report was presented by Carlton Elliott
Upon motion made by Roger Sword, second by Richard Lockridge, and duly
approved by the Industrial Development Authority of Russell County, Virginia to
approve the Financial Report of December 8, 2016 as presented.
The Vote was:
Yea: R. Sword, J. Glass, C. Elliott, E. McFaddin, R. Lockridge, S. Gilmer,
Nay: None
Absent: M. Hincher, D. Mullins
ADJOURNMENT
Upon motion made by Ernie McFaddin, second by Richard Lockridge, and
duly approved by the Industrial Development Authority of Russell County,
Virginia to adjourn to reconvene at The Holiday Inn Express, Lebanon, VA.
The Vote was:
Yea: R. Sword, J. Glass, C. Elliott, E. McFaddin, R. Lockridge, S. Gilmer,
Nay: None
Absent: M. Hincher, D. Mullins
RECONVENE
The Chairman reconvened the meeting at 7:58PM at the Holiday Inn
Express conference room.
COMMITTEE REPORT
Richard Lockridge reported on the prospect committee meeting. Goals of the
prospect committee and plans to implement these goals were discussed.
Becki Joyce reported Dr. Brown & Mr. Fletcher of Russel] County Schools
toured the Steel Fab facility. The school system wants to develop a curriculum to
match the employment needs of Steel Fab.
Becki Joyce reported the Legislative Reception will be on January 26, 2017
in Richmond. Plans and meeting schedules were discussed for the event.
Ernie McFaddin reported an estimate for the automatic doors at the DSS
facility would be $10,642.00.
Page 3
December 8, 2016
Upon motion made by Ernie McFaddin, second by Roger Sword, and duly
approved by the Industrial Development Authority of Russell County, Virginia to
send a letter to DSS requesting the lease to be signed. Upon a signed lease, the
IDA authorizes the installation of the automatic doors at a cost of $10,642.00
The Vote was:
Yea: R. Sword, J. Glass, C. Elliott, E. McFaddin, R. Lockridge, S. Gilmer,

Nay: None
Absent: M. Hincher, D. Mullins
ADJOURNMENT
Upon motion made by Richard Lockridge, second by Ernie McFaddin, and
duly approved by the Industrial Development Authority of Russell County,
Virginia setting the next regular monthly meeting for January 12, 2017 at 5:30 PM

located in the Jefferson Room within the Higher Education Center, Lebanon, VA.
The Vote was:
Yea: R. Sword, J. Glass, C. Elliott, E. McFaddin, R. Lockridge, S. Gilmer,

Nay: None
Absent: M. Hincher, D. Mullins
Upon motion made by Scott Gilmer, second by Richard Lockridge, and duly
approved by the Industrial Development Authority of Russell County, Virginia to
adjourn this meeting at 10:22 PM.
The Vote was:
Yea: R. Sword, J. Glass, C. Elliott, E. McFaddin, R. Lockridge, S. Gilmer,

Nay: None
Absent: M. Hincher, D. Mullins
Page 3
December 8, 2016
Upon motion made by Ernie McFaddin, second by Roger Sword, and duly
approved by the Industrial Development Authority of Russell County, Virginia to
send a letter to DSS requesting the lease to be signed. Upon a signed lease, the
IDA authorizes the installation of the automatic doors at a cost of $10,642.00
The Vote was:
Yea: R. Sword, J. Glass, C. Elliott, E. McFaddin, R. Lockridge, S. Gilmer,
Nay: None
Absent: M. Hincher, D. Mullins
ADJOURNMENT
Upon motion made by Richard Lockridge, second by Ernie McFaddin, and
duly approved by the Industrial Development Authority of Russell County,
Virginia setting the next regular monthly meeting for January 12, 2017 at 5:30 PM
located in the Jefferson Room within the Higher Education Center, Lebanon, VA.
The Vote was:
Yea: R. Sword, J. Glass, C. Elliott, E. McFaddin, R. Lockridge, S. Gilmer,
Nay: None
Absent: M. Hincher, D. Mullins
Upon motion made by Scott Gilmer, second by Richard Lockridge, and duly
approved by the Industrial Development Authority of Russell County, Virginia to
adjourn this meeting at 10:22 PM.
The Vote was:
Yea: R. Sword, J. Glass, C. Elliott, E. McFaddin, R. Lockridge, S. Gilmer,
Nay: None
Absent: M. Hincher, D. Mullins
January 12, 2017
Bills Paid
Susan’s Cleaning
CL Dale
Chafin Law
Board of Supervisors
VSBFA
VCEDA
VCEDA
VCEDA
VCEDA
PPD
Town of Lebanon
Bostic, Tucker & Co
Total
Loan 1
Loan 1
Loan 2
Steel Fab
Audit Prep
1,516.00
15,488.00
273.50
14,243.64
5,287.86
2,325.41
4,139.44
3,900.00
12,207.05
6,494.60
22,099.16
1,500.00
89,474.66
Operating Account
12/21/2016 Deposit
12/28/2016 Deposit
411612017 Deposit
4112/2017 Deposit
1112/2017 AP
BOS
Transactions
Beginning Balance $
wie
DMME-Cleaning
Fugate
AEP Bond Fees
DMME-Rent
RCDSS
38 Consulting
WIB Rent
Susan’s Cleaning
CL Dale
Chafin Law
WIB Rent
DMME-Rent
38 Consulting
‘WIB Rent
Bostic, Tucker & Co.
Ending Balance
January 12, 2016
345,165.19
740.00
1,400.00
4,000.00
21,875.00
5,763.64
6,400.00
7,000.00
740.00
(1,516.00)
(15,488.00)
(273.50)
(740.00)
(6,763.64)
(7,000.00)
(740.00)
(1,500.00)
357,062.69
Motel Account
4116/2017 Deposit Lebanon Inn
1112/2017 AP
VSBFA
VCEDA
VCEDA
VCEDA
PPD
Transactions
January 12, 2016
Beginning Balance $
Ending Balance
5,318.46
419,900.00
(6,287.86)
(2,325.41)
(4,139.44)
(3,900.00)
6,494.60
16,060.35
Transactions
Steel Fab Account January 12, 2016
Beginning Balance $ 93,945.17
11612017 Deposit SPV 35,148.98
422017 AP Town of Lebanon (22,099.16)
VCEDA (12,207.05)
Ending Balance 94,787.94