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IDA asks tobacco panel for $1.1 million for Green View
SoVaNow.com / October 21, 2013Halifax County Industrial Development Authority members on Friday approved the submission of a request to the Tobacco Indemnification and Community Revitalization Commission for $1,140,535 to continue the rehabilitation, Phase III, of the former Daystrom Furniture facility in the Sinai community now known as the Green View Advanced Manufacturing Center.
The request, if granted, would require a non local match of $427,465 from the USACIP (USA Community Adjustment and Investment Program).
Approval of the request for submission came on a 5-0 vote with member Chris Lumsden abstaining from the vote since as CEO of Halifax Regional Hospital System, he felt he had a possible conflict of interest with the hospital’s also applying for competing Tobacco Commission financial support for the expansion of its two nursing homes.
Board members also approved two change orders for Phase II of the Green View rehab project brought to them by Executive Director Matt Leonard. The first of those changes was for $22,800 for additional roof repair and the second was for $248,552 for replacement of all roof metals.
Leonard said the changes mean that 140,000 square feet of the roof has all new materials. He added that the changes will not cause the project to go over budget.
Leonard also advised board members that he is continuing to work with Courtney Fisher of Dominion Power to plan for a redundant permanent power feed to Riverstone that could allow it to become Dominion Data Center Certified. Fisher has suggested four possible plans for the power feed which would provide continuous back-up power that would not allow for interruption.
The director, along with Finance Chairman Garland Ricketts, reported on the closure of the ABB refinancing which took place on September 30. He said the refinancing saved the IDA two monthly payments as well as eliminating a sizeable balloon payment five years down the road and improved the Authority’s cash flow. The Board approved the opening of a saving account at American National Bank with whom the refinancing was carried out. Leonard said he expects to deposit $6,000 a month at American National in escrow funds to cover the quarterly repayments to the bank.
Board members also accepted the recommendation of their Operations and Personnel Committee to eliminate the two term limit for board members, noting that the appointments come from the Board of Supervisors which has placed no limit on the length of service for Authority members.
The matter of making donations to outside organizations, which arose from the request of the Virginia Coalition for funding to keep the ban on uranium mining, was tabled until members of the Finance Committee and the Operations and Personnel Committee could review state law together.
Following their regular session, Authority members heard a report from Mark Estes, Director of the Halifax County Service Authority, about its work with water and sewer operations in the urban area of the county.
CommentsWhat a waste of money. Farmers here in halifax, this is your money that they are wasting.
- By allpolitical2 on 10 / 22 / 13
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