Report on EDA’s regular meeting of September 25

The EDA Board of Directors met for their regular monthly board meeting. Following a 1-hour Closed Meeting session the Board heard from Committee Chairs and Interim County Administrator Ed Daley.

Executive Committee Strategic Plan
Jeff Browne reminded the Board that the initial work on the EDA’s strategic plan will start October 9-10. Led by new EDA Board member, Jim Wolfe, community leaders are being asked to participate in the October 9th session and share their vision for our community. The session on October 10th will include a series of exercises to help Board members articulate goals and plans.

Finance Committee  – Financial Audits
Chair Jorie Martin’s Finance Committee report noted that the auditors from Brown Edwards are finishing up their examination. The committee is expecting the draft audit for 2018 by the end of October at the latest. The Finance Committee will meet and review the draft audit and present to the board if all goes well at the November meeting to finalize.

Bonds:
Bond payments are up to date: Royal Arms Housing bond fees are due every February. The payment for 2020 was paid. $20,500. Christendom College bond fees are due annually in September.

The 2019 fee was paid and the 2020 was just billed in the amount of $6,567.67. The calculation for payment is 1/8 of 1% of the loan balance.

Asset Management Committee:
Royal Lane Property/Workforce Housing Apartments
Committee Chair Greg Harold reported that there has been considerable interest from developers and investors in this property. Executive Director Doug Parsons has been fielding calls from interested parties as well. The RFDP is available in the EDA office. Please contact Doug at 540-635-2182.

Afton Inn
Harold updated the Board with news that the purchasers, 2 East Main, LLC, will not be closing on a loan in September. It is anticipated that closing will now take place by December.

EDA Office Building 400 Kendrick Lane
The staff has undertaken a clean out of the West Basement area. Warren County General Services department is handling the cleanup. All working tools and maintenance equipment were donated to their department and remaining items will be disposed of. We will be clearing out the effects and disposing of them in the proper fashion.

Kendrick Lane CDL Lot
The EDA has partnered with LFCC to provide the parking lot across the street from the EDA Office Building for their CDL Training program. In return, LFCC designed signs will be displayed in the area. There were two sign mock-ups to review by board members for the Workforce Development CDL Lot.

Executive Director
Doug Parsons reported to the board that the new EDA website development is proceeding and a promotional video of the EDA-owned property at 426 Baugh Drive is now available at https://youtu.be/W1EbBQ4avNs.

Many thanks to Brian Kelly of Randolph Macon Academy for his work in the drone footage and producing the video.

The Town of Front Royal Planning & Zoning Commission held a public hearing and then voted to approve the EDA to rezone two parcels in the Happy Creek Industrial Park to Industrial-2. The request will now be sent to the full Town Council for their approval.

The EDA Board of Directors will have their regular monthly board meeting via Zoom on Friday, October 23, 2020, at 8 a.m.