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EDAMinutes2023May8 MINUTES ECONOMIC DEVELOPMENT AUTHORITY | THURSDAY, MAY 8, 2023 | A meeting of the Frederick County Economic Development Authority was held on Monday, May 8, 2023, at 8:00 a.m. in the County Administration Building, First Floor Conference Room, 107 North Kent Street, Winchester, Virginia. PRESENT: Rick Till, Karen Swecker, Diane Kearns, Judy McCann-Slaughter, Bryan Fairbanks, Stan Crockett, and Gary L ofton STAFF: Patrick Barker, Shayla Rickard, Wendy May and Donna McIlwee, Frederick County Economic Development Authority; Michael Bryan, Attorney; and Jay Tibbs, Deputy County Administrator MEETING CALLED TO ORDER: Chairman Till called the meeting to order at 8:00 a.m. APPROVAL OF MINUTES The minutes from the April 6, 2023, meeting were presented. On motion duly made by Ms. Kearns and seconded by Ms. McCann-Slaughter, the minutes were approved by the following recorded vote: J. Stanley Crockett Aye Bryan Fairbanks Aye Diane Kearns Aye Gary Lofton Aye Judy McCann-Slaughter Aye Karen Swecker Aye Rick Till Aye TREASURER'S REPORT Mr. Barker submitted the following report: Checking Account - Bank of Clarke County as of March 31, 2023 - $30,864.19 Savings Account - Scott & Stringfellow as of March 31, 2023 - $1,487,791.33 On motion of Ms. McCann-Slaughter, seconded by Mr. Fairbanks, the Treasurer’s Report was approved by the following recorded vote: Page 2 of 4 Frederick County EDA Meeting Minutes | May 8, 2023 J. Stanley Crockett Aye Bryan Fairbanks Aye Diane Kearns Aye Gary Lofton Aye Judy McCann-Slaughter Aye Karen Swecker Aye Rick Till Aye INVESTMENT OPTIONS FOR SCOTT & STRINGFELLOW FUND BALANCE Mr. Tibbs reviewed a spreadsheet showing investment alternatives with four local banks. Ms. McCann-Slaughter stated she felt the Intrafi Insured Cash Sweep with Bank of Clarke was the best option and saw no reason not to make the change. Mr. Till stated, for clarification purposes, that consideration was being given to moving the entire amount now invested with Scott & Stringfellow to another account. On motion of Ms. McCann-Slaughter, seconded by Mr. Crockett, the Board voted to move the investment account to the Intrafi Insured Cash Sweep with the Bank of Clarke by the following recorded vote: J. Stanley Crockett Aye Bryan Fairbanks Aye Diane Kearns Aye Gary Lofton Aye Judy McCann-Slaughter Aye Karen Swecker Aye Rick Till Aye CLOSED SESSION Upon Motion duly made by Ms. McCann-Slaughter, seconded by Mr. Crockett, the Authority unanimously RESOLVED to go into a closed meeting pursuant to Section 2.2-3711(A)(3) for the discussion and consideration of the acquisition of real property for a public purpose, or of the disposition of publicly held real property, where discussion in an open meeting would adversely affect the bargaining position or negotiating strategy of the Authority, and pursuant to Section 2.2-3711(A)(5) for discussion concerning a prospective business or industry where no previous announcement has been made of the business or industry’s interest in locating or expanding its facilities in the community. Page 3 of 4 Frederick County EDA Meeting Minutes | May 8, 2023 RETURN TO OPEN MEETING At the conclusion of the closed meeting concerning the discussion concerning the acquisition of real property for a public purpose, or of the disposition of publicly held real property, where discussion in an open meeting would adversely affect the bargaining position or negotiating strategy of the Authority, and the discussion concerning a prospective business or industry where no previous announcement has been made of the business or industry’s interest in locating its facilities in the community, the following Resolution was unanimously adopted upon roll call vote as set forth below: WHEREAS, the Economic Development Authority of the County of Frederick, Virginia has concluded its “closed meeting” at a meeting held on May 8, 2023, and desires return to an “open meeting”; and WHEREAS, the adoption of this Resolution is intended to serve as the “Certificate” described in Section 2.2-3712(D) of the Code of Virginia (1950, as amended). NOW THEREFORE, BE IT RESOLVED that the Economic Development Authority of the County of Frederick, Virginia does hereby reconvene in an “open meeting” at its meeting held on May 8, 2023; and BE IT FURTHER RESOLVED that each and every Member of said Authority who votes in the affirmative for this Resolution does thereby certify to the best of each Member’s knowledge that only public business matters lawfully exempted from open meeting requirements of the Virginia Freedom of Information Act were heard, discussed or considered during the closed meeting, and that only such public business matters as were identified in the Motion which convened the closed meeting were heard, discussed or considered during the course of said closed meeting by the Authority: Roll Call Vote J. Stanley Crockett Aye Bryan Fairbanks Aye Diane Kearns Aye Gary Lofton Aye Judy McCann-Slaughter Aye Karen Swecker Aye Rick Till Aye Page 4 of 4 Frederick County EDA Meeting Minutes | May 8, 2023 Upon motion duly made by Ms. McCann-Slaughter and seconded by Mr. Lofton, the Board unanimously RESOLVED that the Economic Development Authority of the County of Frederick, Virginia (the “EDA”) hereby terminates that certain Purchase and Sale Agreement effective January 13, 2023, by and between the EDA and Todd S. Jenkins, Co-Executor, and Teresa L. McFarland, Co-Executrix of the Estate of Oscar Junior Jenkins, Deceased, for the sale and purchase of that certain parcel of land containing 6.85 acres, more or less, situate on the North side of Route 37 in Stonewall Magisterial District, Frederick County, Virginia, designated as 425 Lenoir Drive, Winchester, Virginia 22603, Frederick County Tax Map No. 43-A-23. The EDA hereby directs Counsel to give Notice of Termination to the Sellers in accordance with the terms of the Purchase and Sale Agreement by the following recorded vote: J. Stanley Crockett Aye Bryan Fairbanks Aye Diane Kearns Aye Gary Lofton Aye Judy McCann-Slaughter Aye Karen Swecker Aye Rick Till Aye OTHER BUSINESS Mr. Barker encouraged Board members to visit the Employer Expo on May 10. Ms. McCann-Slaughter asked about the status of a “Boot Camp” for students to provide core training to meet the needs of local employers. Mr. Barker stated that those employers driving the idea are not interested right now. ADJOURN There being no further business to come before this Authority, the meeting was adjourned at 8:25 a.m. ________________________________ ____________________________ Richard Till Jay Tibbs Chairman Secretary