08-12-2014 IDA MinutesINDUSTRIAL DEVELOPMENT AUTHORITY
OF PITTSYLVANIA COUNTY, VIRGINIA
Pittsylvania County Board of Supervisors' Conference Room
1 Center Street
Pittsylvania County Industrial Development Authority
6:00 P.M.
Minutes
August 12, 2014
IDA Members Present
Eddie L. Hite, Jr., Chairman
Randy Anderson
Stanley Simpson, Secretary/Treas.
Charlie Mahan, Vice-Chairman
Ron McMahon
Ronnie Haymore
Dr. Joey Faucette
Staff Present
J. Vaden Hunt, Esq. (County Attorney/IDA Attorney), Gregory L. Sides, (Assistant County
Administrator/Planning), and Brenda O. Robertson (Legal Secretary/IDA Clerk).
Guest Present
Greg L. Anderson (Senior Vice President; Market President; BB&T Banking & Trust Company),
Clarence C. Monday, Pittsylvania County Administrator
Call to Order
The meeting of the Industrial Development Authority of Pittsylvania County, Virginia (the "IDA"),
was called to order by Mr. Hite-Chairman at 6:00 P.M. in the Pittsylvania County Board of
Supervisors' Conference Room, 1 Center Street, Chatham, Virginia, 24531.
Roll Call
IDA roll call by Ms. Robertson (IDA Clerk). All IDA members present.
Approval of Agenda
Motion was made by Mr. Haymore, seconded by Mr. Anderson, to approve the Agenda for the
meeting. Motion carried unanimously by IDA members.
August 12, 2014
IDA Minutes
Page 2
Approval of the Minutes
Motion was made by Dr. Faucette, seconded by Mr. Anderson, to approve the June 10, 2014, Meeting
Minutes. There were no minutes for July 8, 2014, meeting cancelled. Motion carried unanimously by
IDA members.
Financial Reports
The IDA Checking Account balance as of July 8, 2014, was $145,411.29. The IDA Checking Account
Balance as of August 8, 2014 is $145,111.19. The Axxor Debt Reserve Account balance as of July 8,
2014, was $218,537.63, and the Axxor Debt Reserve Account balance as of August 8, 2014, is
224,227.49. Motion by Mr. Simpson, seconded by Dr. Faucette, to approve the financial reports.
Motion carried unanimously by IDA Members.
New Business
Presentation by Gre L. Anderson (Senior Vice President; Market President; BB&T
Bankin & Trust Comqany)
Mr. Anderson was introduced to the board members, by Mr. Sides, and his business cards were
handed out. Mr. Anderson explained to the board members that the bank may be able to offer a few
cents more on the IDA's regular checking account. Also, Mr. Anderson informed the board that online
banking should be utilized, which he set up, and made available for the Clerk the following day. After
completion of presentation, Mr. Anderson accepted questions; there were no questions from board
members, or staff.
Introduction of/and Discussion with Clarence C. Mondav, Pittsylvania Countv Administrator
Mr. Monday was introduced to the board members. There was no discussion or questions for the new
County Administrator.
Approve Letter to Intertaae, Re arding Final Pavment of Closin Cost
Mr. Hunt gave a brief explanation about the history of the initial closing cost paid by the IDA for
Intertape. The reimbursement cost by Intertape, has now been satisfied to date. Future payments will
be $45,859.24. Chairman Hite authorized Ms. Robertson to send a letter to Intertape informing them
of the final reimbursement cost and revised monthly amount due.
Updates
Gregory L. Sides (Assistant County Administrator/Planning & Develoqment)
Discussion and update on Ringgold Industrial Park Rail, Dan River Plant property, and Brosville
Industrial Park grading. Mr. Sides also gave a presentation and slide show of the Berry Hill Mega
Site grading.
Mr. Sides discussed a future Joint Meeting with the IDA and the Board of Supervisors, the date will
be announced.
With there being no further business, motion by Mr. Haymore, seconded by Mr. Mahon, to adjourn
meeting. Chairman, Mr. Hite, adjourned meeting at 6:55 P.M.
Respectful y Submitted, . Ap d:
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W. Stanley Sim s n IDA, S cretary Eddie L. Hite, Jr., IDA, Chairman