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Industrial Development Authority – LIVE! (3/8/16)

SouthsideCentral was LIVE! at Danville City Hall for Tuesday’s Industrial Development Authority meeting. This article is now complete, so enjoy the recap.

They’ve already blocked off parking spaces for IDA members.

Before the meeting, Gus Dyer came to Corrie Teague and aggressively questioned her on the process of the sale of a commercial property to Rick Barker. Now we’re underway!

Everyone is here except Max Glass. Michael Adkins goes over the financial reports.

Corrie Teague does the presentation about the economic development strategy for the River District.

Good seats are very much available at today’s meeting.

There’s a brief mention of a refund check received from the Woods Rogers legal firm in the financial reports.

Linwood Wright speaks on how the Danville River District has progressed quickly. Neal Morris reminds everybody tbat the IDA doesn’t negotiate deals with businesses, they just work with the financing.

On to regular business. The first item is spending $80K on the 200 block of the IDA’s N. Union St. properties where businesses are for improvements. Next is painting the old Atrium building before the mural is repainted.

The parking lot being built at the corner of Wilson & Court Streets has ran into a snag because of storm drain problems so the IDA has to allocate another $36K for the project. Next up is $21,500 to fix the sprinkler system at the old Durham Hosiery building.

The IDA grants an easement to have a fiber optic line connect to Ecomnets. And finally, the IDA completes the purchase of the old AVRC building on Stinson Drive for $1.1 million. We’re done with regular business, so it’s time for the closed session.

Closed session time.

12:10 PM – 40 minutes in, the closed session continues.

12:15 PM – Mayor Sherman Saunders comes out of the elevator and heads to the city manager’s office. Not related to the IDA meeting, of course.

12:30 PM – Back to open session. The IDA approves a $10K loan to Southern Ice, the new business of Kathyrn Trakas. The terms are 4% interest over five years.

That’s it. We’re done. Thanks for reading the most comprehensive recap of Tuesday’s Danville Industrial Development Authority meeting. We’ve got more coming up here on SouthsideCentral!

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