IDA Annual Meeting

Shenandoah County Industrial Development Authority

Meeting Minutes: January 18, 2022

 

Chairman Poling called the meeting of the Shenandoah County IDA to order at 2:00 p.m. on January 18, 2022. The following IDA members were present: Chairman Vince Poling, Vice Chairman Jay Winkfield, Ms. Bev Butterfield, Mr. Michael Funk, Mr. Mike Koontz, and Ms. Abby Walters. Others in attendance included: Ms. Jenna French, Director of Tourism and IDA Treasurer/Secretary, and Ms. Mandy Belyea, IDA Secretary and Treasurer.

 

Approval of Meeting Agenda:  Mr. Winkfield made a motion to approve the agenda as presented which was seconded by Mr. Koontz.  The motion carried by unanimous vote.

Mr. Poling also reminded the IDA that this is our required annual meeting.

 

Approval of Meeting Minutes: Mr. Winkfield made a motion to approve the minutes for the January 10, 2022 meeting, and the motion was seconded by Ms. Butterfield. The motion carried on a unanimous voice vote.

 

Reports:

Financial Report: Ms. Belyea shared that Ms. French distributed an updated copy of the financial report before the start of the meeting.  The revised agenda reflected the closure of the VDOT CD which had matured.  Ms. Belyea also pointed out that we have an RBEG CD which will be maturing in February.  She also reported that we closed out the CDBG Checking Account and refunded the County the money they had advanced the IDA for the small business grant along with the interest earned on the account.   Mr. Winkfield inquired about the $25,000 deposit made to the general checking account.  Ms. French indicated that the Board of Supervisors voted earlier in the year to allocate up to $25,000 to the IDA and another $25,000 to the Conservation Easement Authority from rollback taxes collected from the prior fiscal year.  This $25,000 represents the first allocation of funds from rollback taxes incurred in FY21.  Ms. Belyea also shared that staff reconciled the funds for the Small Business Loan and determined that two businesses had overpaid when paying off their loans.  Ms. French shared that the financial report reflected refunds to both of those businesses.

 

Annual Chairman’s Report:  Mr. Poling indicated that a copy of the chairman’s report was presented within the Annual Meeting Packet.  Having no questions or amendments from other IDA members, he asked that a copy be presented to the Board of Supervisors.

 

Old Business:

Discussion and consideration to adopt a resolution regarding procurement procedures for the Industrial Development Authority. Ms. Belyea shared that the County is required to follow the Virginia Public Procurement Act but that localities can create their own procurement policy within the guidelines set forth by the State.  The resolution presented would allow the IDA to adopt the County’s procurement policy except for items exempt by the IDA under such policy.

Mr. Funk motioned to adopt the resolution as presented which was seconded by Mr. Winkfield.  The motion passed by unanimous vote.

 

New Business:

Election of Officers for 2022-2023:   Mr. Poling indicated that he renewed his term on the IDA for another four years but did not wish to continue to serve as Chairman and that Mr. Winkfield would be willing to serve as chairman.  Mr. Poling opened the floor to other nominations and hearing none Mr. Funk made the motion to close nominations and appoint Mr. Winkfield as chairman.  The motion was seconded by Ms. Walters and all approved.

 

Mr. Winkfield asked if Mr. Poling would be willing to serve as vice-chair.  Mr. Koontz made a motion to nominate Mr. Poling as vice-chair and Mr. Funk seconded the motion which was approved unanimously.

 

Ms. French said that she was willing to serve as secretary and Ms. Belyea as treasurer so long as no one else was interested.  Ms. Butterfield made the motion to approve Ms. French as secretary and Ms. Belyea as treasurer which was seconded by Mr. Funk.  All approved the motion by voice vote.

 

Closed Session: Mr. Poling made a motion to enter into closed session in accordance with Section 2.2-3711(A)(3) of the Code of Virginia to discuss or consider the disposition of publicly held real property, where discussion in an open meeting would adversely affect the bargaining position or negotiating strategy of the public body. The subject matter of the closed session is the possible purchase of real property by the IDA. The motion was seconded by Mr. Funk and carried on the following roll call vote:

 

Poling – Aye; Winkfield – Aye; Butterfield – Aye; Funk – Aye; Holtzman – Absent; Koontz – Aye; Walters – Aye

 

Ms. Butterfield made a motion to return to open session, and it was seconded by Mr. Koontz. The motion carried on a unanimous voice vote.

 

Ms. French read aloud the following: “with respect to the just-concluded closed session, and to the best of each member’s knowledge, (i) only public business matters lawfully exempted from open meeting requirements under the Virginia Freedom of Information Act and (ii) only such public business matters as were identified in the motion by which the closed meeting was convened were heard, discussed, or considered in the meeting by the Board.” Mr. Funk made the motion, and it was seconded by Mr. Winkfield. The motion carried on the following roll call vote:

 

Poling – Aye; Winkfield – Aye; Butterfield – Aye; Funk – Aye; Holtzman – Absent; Koontz – Aye; Walters – Aye

 

Mr. Winkfield announced that there was no consensus in closed session to take any action at this time.

 

There were no Directors Comments at this time.

 

Staff Comments:  Ms. French reminded the IDA that financial disclosure forms are due at the end of the month for anyone who has not already turned their forms in.

 

Mr. Winkfield asked when we would receive funds for the Jon Henry General Grant announced at the last meeting.  Ms. French shared that the County has just signed its contract with the state and believes the state funds will be distributed as Jon Henry submits eligible receipts for reimbursement but that the County and Town will be disbursing their matching contributions to the IDA soon.  The IDA will need to open a new checking account to hold these funds for disbursement as receipts are received from Jon Henry General Store similar to how we handled the small business grants.

 

Mr. Winkfield also inquired about the status of the Mt Jackson escrow account and if the Town of Mt Jackson has signed off on approving the installation of water and sewer for the Saad Development project on Dish Drive.  Ms. French said that the Town Manager has indicated that there are two spots along the sewer line with lower elevation that needs to be corrected before they will sign off.  Ms. French has passed this along to the developer informing them that this needs to be corrected before we will release the escrow back to them and the developer has indicated that they are working on it.

 

There being no further business, the meeting was adjourned at 2:54 p.m.

 

Respectfully submitted,

Jenna French, Director of Tourism & Economic Development