IDA Meeting

Shenandoah County Industrial Development Authority

Meeting Minutes: January 10, 2022

 

Chairman Poling called the meeting of the Shenandoah County IDA to order at 10:01 a.m. on January 10, 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 Mr. Jordan Bowman, Litten & Sipe.

 

Approval of Meeting Agenda:  Having no changes to the agenda as presented, the agenda was approved unanimously.

 

Approval of Meeting Minutes: Mr. Funk made a motion to approve the minutes for the November 16, 2021 meeting, and the motion was seconded by Mr. Koontz. The motion carried on a unanimous voice vote.

 

New Business:

Consideration to return the escrow to Saad Development following installation of the water and sewer infrastructure as outlined in the contract of sale dated August 28, 2020:   Mr. Winkfield made a motion to return the escrow contingent upon the town providing a revised letter to the IDA stating that they agree to take over the ownership and maintenance of the water and sewer infrastructure to the meter serving Saad Development. Ms. Butterfield seconded the motion and the motion carried on a unanimous voice vote.

 

Closed Session: Mr. Winkfield 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 disposition of real property owned by the IDA within the Northern Shenandoah Business Park. 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. Winkfield made the motion, and it was seconded by Mr. Funk. The motion carried on the following roll call vote:

 

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

 

New Business:   Having come out of closed session, Mr. Poling explained the difference between publicly owned property and private property and provided some history of the development of the Northern Shenandoah Business Park and how the IDA came to own its property there. Mr. Poling shared that publicly owned property is often used to enhance the county and can enhance other privately owned property but is paid back through other means such as an enhanced tax base.  In the case of the current property discussions, the county is taking a gamble to get a bridge constructed to open up other privately owned properties but would benefit from the increased real estate and personal property taxes gained by developing those sites.

 

Ms. Walters made a motion to approve the contract presented by Matan Acquisitions II, LLC as substantially presented to the IDA except with only an initial deposit in the amount of $25,000 with such other changes as may be approved by the chairman in consultation with the IDA’s attorney and to authorize the chairman or the vice chairman either of whom may act to sign such documents and take such other actions as may be reasonably necessary to close the sale of the property.  The property is approximately 21.924 acres comprised of parcel 016 A 123 and parcel 016 04 001I.  The motion was seconded by Mr. Koontz and carried on a roll call vote:

 

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

 

Staff Comments:  Ms. French shared the Shenandoah County was awarded a $25,000 AFID Grant through VDACS to assist Jon Henry General Store in purchasing a flash freezer and developing their space to serve as an aggregator for local farms and producers.  The project will help local farms in Shenandoah County and throughout the region to sell directly to other retailers and restaurants.  Ms. French informed the IDA that the IDA will need to serve as the pass through for any funds related to this grant including the $25,000 from the state as well as a $6250 match from the County and $12,500 from the Town of New Market.

 

Ms. French also reminded IDA members to complete their Statement of Economic Interest Forms before the end of the month.

 

A date was set for the Annual Meeting to take place at 2:00 p.m. on Tuesday, January 18 in the Board Room at the County Government Center.

 

There being no further business, the meeting was adjourned at 11:05 a.m.

 

Respectfully submitted,

Jenna French, Director of Tourism & Economic Development