EDAMinutes2024February1
MINUTES
ECONOMIC DEVELOPMENT AUTHORITY
| THURSDAY, FEBRUARY 1, 2024 |
A meeting of the Frederick County Economic Development Authority was held on
Thursday, February 1, 2024, at 8:00 a.m. in the County Administration Building , First
Floor Conference Room, 107 North Kent Street, Winchester, Virginia.
PRESENT: Rick Till, Judy McCann -Slaughter, Karen Swecker, Bryan Fairbanks and
Gary L ofton. Due to personal reasons, Stan Crockett participated by phone which
was approved by Board members present.
STAFF: Patrick Barker, Shayla Rickard, Wendy May, and Donna McIlwee, Frederick
County Economic Development Authority; Michael Bryan, EDA Attorney; Rod
Williams, County Attorney; and Jay Tibbs, Deputy County Administrator
MEETING CALLED TO ORDER : Chairman Till called the meeting to order at 8:00 a.m.
PUBLIC HEARING—MODIFICATION OF UP TO $17,000,000 OF REVENUE BONDS FOR THE
BENEFIT OF THE LEGACY AT NORTH AUGUSTA, INC.
Mr. Till opened the Public Hearing , held at the request of The Legacy at North Augusta, Inc.
regarding certain modifications to the Authority’s Residential Care Facility Revenue Bonds
(The Legacy at North Augusta project), Series 2011 (the “Bonds”), originally issued in an
aggregate principal amount of $17,000,000. No one spoke during the Public Hearing,
which was then closed by Mr. Till.
RESOLUTION FOR MODIFICATION OF UP TO $17,000,000 OF REVENUE BONDS FOR THE
BENEFIT OF THE LEGACY AT NORTH AUGUSTA, INC.
Mr. Bryan introduced the Legacy’s Bond Attorney, Mike Graff, and Craig Watson, a
representative from Legacy. He explained the resolution was to modify the bonds a s to the
interest rate. There is no obligation placed on the Authority and the Authority is not
indebted on these bonds. The Authority does receive an administrative fee from the
bonds.
EDA Board members were provided a copy of the proposed Resolution prior to this
meeting. On motion of Mr. Fairbanks, seconded by Mr. Lofton, the Resolution was
approved by the following recorded vote:
J. Stanley Crockett Aye
Bryan Fairbanks Aye
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Frederick County EDA Meeting Minutes | February 1, 2024
Gary Lofton Aye
Judy McCann-Slaughter Aye
Karen Swecker Aye
Rick Till Aye
PARTNER SHOWCASE – FREDERICK COUNTY PLANNING DEPARTMENT
Mr. Barker introduced Wyatt Pearson , Director, and Tyler Klein, Senior Planner, to give an
operational overview of Frederick County’s Planning & Development Department.
Mr. Pearson explained how the department interacts with the EDA.
Mr. Klein presented an overview of the proposed Western Frederick Land Use Plan .
APPROVAL OF MINUTES
The minutes from the January 4, 2024 , meeting were presented. On motion duly made by
Mr. Loften and seconded by Ms. McCann-Slaughter, the minutes were approved by the
following recorded vote:
J. Stanley Crockett Aye
Bryan Fairbanks 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 as of December 31, 2023 - $7043.22
Intrafi Account – Bank of Clarke as of December 31, 2023 - $2,898,763.72
On motion of Ms. McCann-Slaughter, seconded by Mr. Lofton, the Treasurer’s
Report was approved by the following recorded vote:
J. Stanley Crockett Aye
Bryan Fairbanks Aye
Gary Lofton Aye
Judy McCann-Slaughter Aye
Karen Swecker Aye
Rick Till Aye
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Frederick County EDA Meeting Minutes | February 1, 2024
PERFORMANCE AGREEMENTS VIRGINIA BUSINESS READY SITE PROGRAM
Mr. Barker distributed a draft Performance Agreement between the EDA and VEDP due to two
minor revisions. Mr. Till stated the Performance Agreement with the Peterson Companies is
ready for signature.
Mr. Lofton asked if there were any questions not resolved in this Agreement. Mr. Barker stated
that Section 13, Final Reimbursement, needs to be discussed more with VEDP. All work must
be completed before Peterson can request reimbursement and VEDP makes the final decision if
work is complete.
On motion of Ms. McCann-Slaughter, seconded by Mr. Fairbanks, the Board voted to move
forward with the Performance Agreement by the following recorded vote:
J. Stanley Crockett Aye
Bryan Fairbanks Aye
Gary Lofton Aye
Judy McCann-Slaughter Aye
Karen Swecker Aye
Rick Till Aye
VIRGINIA BUSINESS READY SITE PROGRAM APPLICATION
Mr. Barker reported that One Logistics Park’s pre -application for $10,000,000 from the 2024
round of VBRSP Grant funding has been accepted for consideration.
STRATEGY MEASUREMENTS UPDATE
Mr. Barker stated that, to ensure proper implementation, staff will provide quarterly updates
on the plan’s performance measures.
Ms. May, Marketing Manager, reviewed Restaurant Week activities and the upcoming
Agribusiness Conference.
Ms. Rickard, Business Retention Manager, announced the Widget Cup competition would be
held on April 11 at Millwood High School and the Employer Expo on May 8 at Shenandoah
University.
GROCERY STORE ATTRACTION
Mr. Barker gave an update on his efforts to encourage grocery stores to locate in Frederick
County. Two have shown moderate interest, 4 have long-term market consideration, and 2
have no interest.
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Frederick County EDA Meeting Minutes | February 1, 2024
SUCH OTHER BUSINESS AS MAY COME BEFORE THIS AUTHORITY
Mr. Barker provided Board members with a recap of key proposed bills in the Virginia
legislature and a full list of proposed bills that VEDA is tracking.
Ms. McCann-Slaughter asked that Board members be made aware of any bills detrimental to
our community or work we are doing so that contact can be made with our legislators.
ADJOURN
There being no further business to come before this Authority, the meeting was adjourned at
8:55 a.m.
________________________________ ____________________________
Richard Till Jay Tibbs
Chairman Secretary