INDUSTRIAL DEVELOPMENT AUTHORITY
OF THE
COUNTY OF PRINCE WILLIAM
January 7, 2019
Approved Minutes
The Regular Meeting of the Industrial Development Authority of the County of Prince William was called to order by the Chairman at 6:35 pm in the Potomac Board Room of the Prince William County Government Center (McCoart Building) located at One County Complex Court, Prince William, Virginia 22192.
Present were: Patrick O’Leary, Chairman
Lorna Wallen, Vice Chairman
Laurie Wieder, Secretary/Treasurer
Steve Dawson, Assistant Secretary/Treasurer
Brian Gordon
Paul O’Meara
Andrew Taylor
None were absent.
Donna Flory and Scarlett Barbee attended to provide administrative support.
Andrew Grossnickle, CPA, CFE, with Robinson, Farmer, Cox Associates attended to present the IDA’s FY18 audit.
PLEDGE OF ALLEGIANCE
CITIZEN’S TIME: Brad Norris, CFA, Financial Analyst Manager with the Prince William County Department of Finance, updated IDA members on the financial progress of the proposed expansion of the County’s Adult Detention Center. Prince William County has completed the RFP process and selected a contractor. Contract negotiations are underway. The County’s Finance Department representatives anticipate the project being on the agenda for the January 22, 2019 Board of County Supervisors meeting. Based on this timeframe, Mr. Norris anticipates bringing the resolution before the IDA at the February 4, 2019 meeting. Mike Graff, the IDA’s bond counsel, is aware and has been involved in the process. Mr. O’Leary clarified that this project will not go through the Department of Economic Development but is between the IDA and County. Mr. Norris indicated that Mr. O’Leary is correct. Mr. Norris needs to obtain the Secretary/Treasurer’s signature on a financial disclosure form for the bank. Laurie Wieder will sign the form tonight. Mr. Norris stated that the County will be responsible for the ongoing payment on the note and the draw requests related to construction. The project is structured in a manner that the operational burden on the IDA members is limited. It is similar to the bond that the IDA approved for the Central District Police Station in 2016. Ms. Wieder advised Mr. Norris that it is important to the IDA to include language in any formal agreement that states that the IDA’s obligation to transfer funds to the recipient is contingent on the BOCS transferring the funds to the IDA. Mr. Norris believes that language similar to what Ms. Wieder is requesting will be included. Mr. O’Leary noted that the IDA’s bond counsel, Mike Graff, is reviewing all documents associated with this project. Mr. Norris concurred, noting that the County Attorney and her staff have been in regular contact with Mr. Graff. Mr. O’Leary suggested that Ms. Wieder may wish to contact Mr. Graff with her concerns regarding the inclusion of language to protect the IDA. Following Mr. Norris’ report, Ms. Wieder signed the financial form the Mr. Norris provided.
Doug Taggart introduced himself to the members of the IDA. Mr. Taggart anticipates that Supervisor Maureen Caddigan will finalize his appointment to the IDA at the Board of County Supervisors meeting tomorrow, January 8, 2019. Mr. Taggart will be replacing Brian Gordon as the Potomac District representative to the IDA. Mr. Gordon has resigned pending a move to the Richmond area.
TREASURER’S REPORT: Laurie Wieder stated that the IDA’s audit for July 1, 2017 through June 30, 2018 has been completed. The FY18 draft audit was provided to IDA members via email in advance of tonight’s meeting. Ms. Wieder introduced Andrew Grossnickle, CPA, CFE, with Robinson, Farmer Cox Associates (RFC) to discuss the audit in further detail. Ms. Wieder also noted that RFC has provided a new draft document, Management Discussion and Analysis, which also was provided to IDA members in advance of tonight’s meeting. This document is one that the IDA may want to consider adopting now or in the future. Mr. Grossnickle began his report by noting that the field work for the FY18 audit was completed in November and that IDA members have received the draft financial statements that he will discuss tonight. He also provided those present with a draft communication letter, also known as a governance letter, which is required to be presented at the end of an audit engagement. He continued to explain that an engagement letter sets forth the responsibilities of the auditor and the IDA at the beginning of the audit process. At the end of the process, the auditor utilizes the governance letter to communicate any significant disagreements with management or any significant accounting estimates or misstatements that had to be adjusted. There were no disagreements with management. Any misstatements were corrected by management, and the only adjustments were for very minor amounts. They included a small fee on both revenues and expenses that was reclassified as well as an adjustment to a small bank fee that was charged as a result of the wrong bank account number being provided by a recipient. Additionally, some of the CDs were brought up to fair market value as many banks do not provide monthly interest information. In these cases, the banks were contacted for up-to-date information on interest. In summary, the IDA’s books were in good order. The independent auditor’s statement provides an unmodified opinion on the financial statements; an unmodified opinion is a clean report. Testing that was performed supported the balances in the accounting system. The second report provided is what is also known as the Yellow Book Report Internal Controls and Compliance Report, which would note any compliance-related issues or deficiencies in controls. Again, none were found. Finally, the numbers reported in the draft financial statements are in line with what IDA members have been receiving in their monthly reports. The financial statements show that the total net position on June 30, 2018, was $1,136,497, an increase of $11,505 from June 30, 2017. Cash and cash equivalents increased by $9,675 to $428,744 as of June 30, 2018. IDA members will remember that a disclosure footnote was added to the FY17 audit disclosing the pass-through funds for the Flory Small Business Center and the Economic Development Opportunity Grant recipients. That disclosure footnote is also included in the FY18 audit report. For FY17 there was a discussion of a Management Discussion and Analysis document, that had not been included in the past and that the IDA might want to consider providing such a document in the future. For FY18, Mr. Grossnickle provided a template for a basic Management Discussion and Analysis, which Ms. Wieder forwarded to each member of the IDA in advance of tonight’s meeting. It is a document that an organization may use to explain basic increases and decreases in financial position and changes in revenues. Beyond that, the organization can expand its narrative to discuss financial initiatives and organization priorities. The template provides very basic information, but the IDA can expand on it, if it chooses. The IDA’s finances are simple when compared with larger organizations; it does not have a lot of revenue categories or expenditures and all items are already shown in the revenue statements so the Management Discussion and Analysis would not necessarily add to or aid in the reading of the audited financial statements. In the future, the summary paragraph, “future economic outlook,” could provide information on future economic initiatives if the IDA thinks it is useful to the reader of the audit. Other organizations have described the unemployment rate for their jurisdiction and compared it to the state or national unemployment rate, for example. Or, the next year’s budget for the general fund may be compared to the current budget. If the IDA wanted to include this document, the IDA would update the template and provide it to RFC. For FY18, it can be added if desired and it will be included in the draft provided by RFC.
Following this review, Mr. Grossnickle asked if there were any questions. Ms. Wieder responding by thanking Mr. Grossnickle for putting together the Management and Discussion Analysis template. She said she has no issue with including it this year but she wonders if it is necessary. Ms. Wieder is interested in the summary section on page 2 as it offers an opportunity to discuss the IDA’s vision in a narrative form in the future. Currently, the IDA is in the process of determining its future vision so she does not know that there is anything of value that could be added this year. For next year, the IDA could include its vision and goals. She asked if others wished to include a Management and Discussion and Analysis. Mr. Dawson agrees with Ms. Wieder that it is not needed this year but is willing to accept the consensus of the group if others feel it should be included. Mr. Grossnickle agreed that the reader of the audit report would learn little new information from the Management and Discussion Analysis as full information is included in the financial statements. He continued with an example of when a Management Discussion and Analysis document would be helpful: when a city audit report is 250 pages, for example, the Management Analysis document can condense the information to a 10-page summary with charts and graphs that provide a concise financial picture of the locality for that year. Readers of those audits may be bond issuers or bond holders who need a quick analysis. For the Prince William County IDA’s audit, the financial statements are only a few pages so it can easily be read without a summary. Ms. Wallen noted that the IDA’s mission is not as broad as a locality’s so she wonders if it is really necessary to include the Management Discussion and Analysis document this year. Mr. Grossnickle agreed that the only thing that would be different from the financial statements would be something included in the summary paragraph. Mr. O’Leary stated that he agreed with omitting the Management Discussion and Analysis report for the FY18 audit but including one next year as the IDA’s financial investments will change as it will no longer be funding the Flory Center and can explain that and other changes. Mr. O’Leary asked each member of the IDA if they were in agreement with omitting the Management Discussion and Analysis for the FY18 audit and each member responded affirmatively. Ms. Wieder thanked Mr. Grossnickle for providing the template as it helps the IDA consider what to include next year. Mr. Grossnickle stated that, next year, the IDA could draft a Word document with whatever it wished to include in the summary paragraph. The remainder of the document would be largely the same from year to year except for the addition of the current year’s financial numbers. Mr. O’Leary asked if there was any discussion on the audit report. Ms. Wieder stated that the draft audit report needs to be accepted and she needs authorization to sign the Management Representation Letter. Mr. O’Leary asked each member of the IDA if they had any questions on the draft audit report and each member responded negatively. Mr. O’Leary asked Mr. Grossnickle when the IDA could expect the final audit report. Mr. Grossnickle responded that it could be provided in about one week via email as a PDF document. Mr. O’Leary called attention to page 8, note 2, “Deposits and Investments.” It states deposits with banks are collateralized in accordance with the Virginia Securities and Public Deposits Act. He noted the line that says all public deposits are considered fully collateralized. He asked if it is true that the funds that the PWC IDA has in the bank are fully collateralized as of this audit period or if it is something the IDA will need to address in the future. Mr. Grossnickle responded that he believes that, by nature, the IDA’s funds should be public deposits. However, the banks are supposed to report the funds to the Virginia Department of Treasury as public deposits on a quarterly basis. If there were a catastrophic event, such as a run on the banks, and the bank had not reported the funds as public deposits, Mr. Grossnickle is not sure if the state would pay or if the bank’s liability insurance would pay since the bank did not properly report the funds to the state. It would be his hope that the state would step in, but the IDA would need to get a legal opinion as to what would happen if there were a run on the banks and the bank had not fulfilled its responsibility to report the IDA’s accounts as public funds. Ms. Wieder stated that Donna Flory is working with each bank to make sure our funds are reported to the state. However, there seems to be some confusion on the part of the banks as to what they need to do. Mr. Grossnickle has agreed to provide Ms. Wieder with a basic worksheet on how to make sure organization funds are public funds. This worksheet will give the bank specific instructions. Ms. Wieder noted that the ultimate proof that the IDA’s funds have been reported is to see that the IDA’s accounts are listed on the Virginia Treasury’s website. Every quarter, Ms. Wieder and/or Ms. Flory can go on the website and input each of the IDA’s accounts; if they have been properly reported by the bank to the state, the balance will be listed on the website. Ms. Wieder emphasized that regardless of whether the IDA’s funds are currently considered public funds, the IDA has taken great care to ensure that IDA funds are distributed among various banks and no single bank holds more than the FDIC’s legal limit. She also noted that she and Ms. Flory are in the process of ensuring that each account is categorized as public funds. Mr. Grossnickle stated that the public depository insurance would not be an issue if none of the accounts contain more that the FDIC legal limit. The only time that public depository insurance is an issue is if there is a deposit over $250,000. Ms. Flory noted that the IDA was previously working with a larger number of banks but with many mergers and acquisitions, the IDA is currently only working with four banks. No more than $250,000 is kept in accounts and SWEEP accounts are utilized for accounts that could receive funds that would put total deposits with that bank above $250,000. Ms. Flory stated that three of the banks are reporting the funds properly. Each time there is a change in signature cards, the funds are reviewed. The only account of which she is unsure of is the Local Government Investment Pool (LGIP). Mr. Grossnickle stated that public depository insurance does not apply to LGIP because it is an investment account rather than a deposit account. Ms. Flory stated that the other three banks --First Virginia Community Bank, Fauquier Bank and United Bank -- are visible on the Virginia Treasury website as public funds. Ms. Wieder asked about the SWEEP accounts and Mr. Grossnickle responded that the SWEEP accounts are technically not deposit accounts. Mr. O’Leary asked Mr. Grossnickle if the December 20, 2018 Representation Letter is largely the same as the one Ms. Wieder signed six months ago for the previous audit. The previous Representation Letter was discussed in great detail when Mr. Grossnickle attended the September 10, 2018 IDA meeting. Mr. Grossnickle responded affirmatively that it is virtually the same letter. The only time the Representation Letter changes is when there is a change in accounting or governmental accounting changes. Since the IDA’s last letter was in September, the current letter is almost identical. Laurie Wieder made a motion to accept the draft audit report as provided by Robinson Farmer Cox for the fiscal year ended June 30, 2018. The motion was seconded by Steve Dawson and passed unanimously with Pat O’Leary, Lorna Wallen, Laurie Wieder, Steve Dawson, Paul O’Meara and Andrew Taylor each voting aye.
Laurie Wieder made a motion authorizing her, as Secretary/Treasurer of the Industrial Development Authority of the County of Prince William, to sign the Representation Letter as provided by Robinson Farmer Cox and Associates. The motion was seconded by Lorna Wallen and passed unanimously with Pat O’Leary, Lorna Wallen, Laurie Wieder, Steve Dawson, Paul O’Meara and Andrew Taylor each voting aye.
Ms. Wieder signed the Representation Letter and provided it to Mr. Grossnickle. She stated that it is a pleasure to work with Mr. Grossnickle and she appreciated his professionalism and expertise and thanked him for attending the meeting tonight. Mr. Grossnickle stated that is his pleasure to work with the IDA.
MINUTES OF THE DECEMBER 3, 2018 PWC IDA MEETING: Mr. O’Leary asked if there were any questions or concerns regarding the Proposed Minutes from the December 3, 2018 meeting. Hearing none, Steve Dawson made a motion to approve the December 3, 2018 Minutes, as presented, seconded by Andrew Taylor. The motion passed with Lorna Wallen, Laurie Wieder, Steve Dawson, Paul O’Meara and Andrew Taylor, each voting aye. Pat O’Leary and Brian Gordon abstained from the vote as they were absent from the December 3, 2018 meeting.
TREASURER’S REPORT: Ms. Wieder reported that all bond administrative fees due to date have been collected. Ms. Flory is diligent to ensure that the fees are paid on time. The third installment payment for the Neabsco Creek Dredging Project was wired into the IDA’s account on December 20, 2018 and wired out to Neabsco Creek, LLC on the same date. Completing the payment was a collective effort. Ms. Wieder noted that she and Ms. Flory were scheduled to meet with the County’s Department of Economic Development last week to discuss procedures for the incentive transfers. However, the meeting had to be rescheduled as one of DED’s representatives could not attend on the originally scheduled date. The meeting was rescheduled for the end of January. Ms. Wieder telephoned a representative in the County’s Department of Finance regarding the transfer of the Neabsco Creek funds and she was impressed with how quickly he was able to obtain the approvals. There are many different signatures that are required in order to transfer the Neabsco Creek Dredging Project funds. She asked Mr. O’Meara to relay to Terry Hill of Neabsco Creek, LLC that he needs to be aware that each transfer is taking about a week to obtain all signature approvals and complete the wire transfer of funds. Ms. Flory noted that submitting the invoice on a Thursday or Friday delays payment as it cannot be accomplished before the weekend. Ms. Wieder noted that she and Ms. Flory had to be personally involved making phone calls to ensure that the payment was processed. Ms. Wieder mentioned that Gerry Clemente, Finance Manager with Prince William County, and Nancy at United Bank were both instrumental in completing the payment. Mr. O’Leary asked if there was one remaining draw for the Neabsco Creek project and Ms. Flory responded that there was at least one more. Mr. O’Meara stated that there was about $110,000 in County funds remaining to be paid. Ms. Wieder noted that there is a receivable in the Treasurer’s Report for $6,500 that was advanced to Neabsco Creek LLC as payment for several buoys. It was her understanding that the money would be repaid once Neabsco Creek LLC received a draw. However, Ms. Flory learned from Ben Eib with Prince William County that the IDA cannot be repaid those funds until the project is done because 10% must be retained until the last payment is made. Mr. O’Leary stated that he and several others were in agreement that the IDA would pay for the buoys if it is necessary. Ms. Wieder will keep it on the report as a receivable for now. Continuing with her report, Ms. Wieder noted that the Director’s fees and mileage have been paid for the preceding quarter. 1099s have been prepared and will be filed on January 10, 2019. Shortly thereafter, IDA members should receive their individual copy in the mail. The financial report reflects a $50,000 credit because the Flory Small Business Center returned the $50,000 that IDA had contributed towards a new facility for the Flory Center. Ms. Wieder clarified that the IDA’s insurance with the Virginia Municipal League is not just Directors and Officers insurance but rather it is Liability Insurance that covers a range of activities. The financial report has been corrected to note that it is Liability Insurance. Mr. O’Leary asked if any members of the IDA had any questions regarding the Treasurer’s Report. Hearing none, Steve Dawson made a motion to accept the Treasurer’s Report, seconded by Brian Gordon. The motion passed unanimously with Pat O’Leary, Lorna Wallen, Laurie Wieder, Steve Dawson, Paul O’Meara and Andrew Taylor each voting aye.
CHAIRMAN’S REPORT: Neabsco Creek Dredging Project Mr. O’Leary asked Paul O’Meara to provide an update. Mr. O’Meara stated that 12,000 cubic yards of dirt have been removed from Neabsco Creek. The main channel has been dredged to 5 feet. There are two high spots that need to be cleared based on the intermediate survey that was completed. The marinas have completed their part of dredging the marinas with the exception of EZ Cruz Marina. EZ Cruz Marina, the marina closest to the mouth of the creek, needs one more day to complete its dredging. EZ Cruz spent approximately $74,000, Pilot House spent approximately $55,000, Hampton’ Landing spent approximately $48,000 and the fourth marina, which has not yet opened, spent approximately $45,000. Mr. O’Leary clarified that the new marina, closest to Route 1, had dredged its marina and Mr. O’Meara responded affirmatively. Mr. O’Meara reported that Supervisor Frank Principi recently met with Deputy County Executive Chris Price regarding state money that may be available for the dredging. The County has been told that it is going to receive an additional $250,000 for the project and the County is working on a plan for how to best utilize those funds. One of the topics that arose in the conversation between Supervisor Principi and Mr. Price was the fairways that run from the main channel to the public access ramps that catch the overflow from Leesylvania State Park. These fairways are considered to be public rights of way as they are used for fire boats. The $250,000 may be applied to those fairways. There is a tight window to complete the dredging as the permits run out on February 15, 2019 due to fish spawning. Additional time will be requested from the Virginia Marine Resources Commission (VMRC). Mr. O’Meara mentioned to Mr. Price that the IDA’s Performance Agreement expires January 31, 2019. Mr. O’Meara believes that the expenditure of state funds is outside of the IDA’s authority. Therefore, if dredging extends beyond January 31, 2019 utilizing state funds, Neabsco Creek LLC has met its commitment to the IDA in spending County money. Mr. O’Meara does not believe that state funds will come through the IDA. Mr. Gordon asked if Mr. O’Meara knew the source of the funds. Mr. O’Meara did not know the specific source, but Virginia Senator Surovell delivered the news that the funds were going to be provided. Mr. Gordon was interested in whether the funds were already authorized or if it was something that was being added into the state budget. Mr. O’Meara concluded his report by noting that it appears the Neabsco Creek Dredging Project will be completed on time and within the budget the County allocated. Mr. O’Leary noted a lot of people have worked together to ensure that the project is completed beginning with Terry Hill, who organized the project; the marina owners; and Ms. Wieder and Ms. Flory, who have worked to ensure that payments are made in a timely manner. It is Mr. O'Leary's hope that the IDA's involvement in this project demonstrates that the different government agencies, in this case, the IDA, the Finance Department, the Department of Public Works, and the Department of Economic Development, can all work together to produce the desired result with a minimum of friction and wasted time. Mr. O’Leary will not be here in February and has asked Vice Chairman Lorna Wallen to lead the meeting in his absence. Ms. Wieder would like to delay discussion of the IDA’s future vision until a meeting where the Chairman will be present.
Rules and Procedures 6.2 Report – The IDA received $50,000 refunded from the Flory Center but no other bond administrative fees have been received since the December meeting.
Flory Small Business Center, Inc. Update – The Flory Center has cancelled its memoranda of understanding and its administrative agreement with the IDA. At the last meeting of the Flory Center Board of Directors, it was agreed that Linda Decker would send notification to Prince William County, the IDA, and the Cities of Manassas and Manassas Park terminating any agreements. There is no longer any legal connection between the Flory Center and the IDA, including funding or administrative support. Mr. O’Leary signed the Independent Contractor Agreements with Donna Flory and Scarlett Barbee.
IDA Records – Physical records are being temporarily housed in the Flory Center’s building and electronic data is being stored on two computers, one used by Donna Flory and one used by Scarlett Barbee as well as on back-up drives.
Meeting with Deputy County Executive Chris Price – Mr. O’Leary is scheduled to meet with Deputy County Executive Chris Price this Friday, January 11, 2019. Mr. O’Leary plans to discuss three topics: 1) a location for the IDA’s records; 2) the Agreement between the IDA and BOCS; 3) Any future plans the County has to replace the functions of the Flory Center. If the County has plans, then the current Flory Board of Mr. O’Leary, Ms. Wallen and Frank Jones may decide to close down the Flory Center in the next 6 to 12 months. If the County doesn’t have plans, then the current Flory Board will look at resurrecting the Flory Center.
PWC IDA’s Rules and Procedures 3.4(b) – Mr. O’Leary circulated a proposed change to paragraph 3.4(b) of the IDA’s Rules and Procedures via email on December 21, 2018. In consultation with IDA bond counsel, Mike Graff, Mr. O’Leary suggests striking the last three sentences of 3.4(b) which state:
“Each person, firm or organization submitting a written request to receive copies of the Authority's agenda must renew such request in writing every six months during the months of June and December for the next succeeding six-month period. The Authority’s Secretary shall advise the requesting person or organization of this six-month renewal requirement in every communication with the requester. The Authority’s Secretary shall automatically stop sending an agenda copy to any person, firm, or organization, which fails to comply with this six-month renewal requirement.”
Mr. O’Leary proposed replacing the three stricken sentences with the sentence, “The Secretary shall regularly ask those receiving the Agenda to notify the Authority when they no longer want to receive the Agenda.”
Mr. O’Leary noted that Mr. O’Meara has proposed posting the IDA’s Agenda on its website each month. The IDA’s current website does not allow members or administrative personnel to make changes to it. Rather, changes are provided to Christie Jackson at MDA Technologies and she posts the changes. Ms. Jackson estimates the cost to be $42.00 a month. Ms. Wieder asked if the IDA also wants to post the Minutes each month. Mr. O’Meara noted that a new website can be created that would cost only about $400 to maintain for the entire year and changes could be made in a matter of minutes. Mr. O’Meara noted that adding copies of the old Minutes might take a little time depending on how far back in time the IDA wishes to post Minutes. Mr. O’Meara is in favor of posting the Agenda and the Minutes to the website. He noted that a website can be created through Square Space at a very reasonable cost. Mr. O’Leary is in favor of posting the Agendas and Minutes to the website particularly if it is something the IDA can do without relying on a third party. Mr. O’Meara stated that there are funds budgeted for a new website so it makes sense to get it updated so that the IDA members or their designee can post items and update it monthly without using a third party. Ms. Wieder stated that she has been delaying creation of a new website as she wants it to be in line with the IDA’s vision. However, she understands that it may be time to create a new website and it can then be updated with additional materials related to vision at a later date. She noted that Mr. O’Meara has already put together most of the structure for a new website. Mr. O’Meara stated that the only major piece that is still needed is to have Mike Graff write up a narrative about the bond process. It was generally agreed that it is time to spend the funds to get a new IDA website up and running so that members and administrative personnel can access the website and post relevant documents without going through a third party.
Following this discussion, Laurie Wieder made a motion to approve the revision to Section 3.4(b) of the Industrial Development Authority of the County of Prince William’s Rules and Procedures to strike the last three sentences in Section 3.4(b) and replace them with the sentence, ““The Secretary shall regularly ask those receiving the Agenda to notify the Authority when they no longer want to receive the Agenda.” The motion was seconded by Steve Dawson and passed unanimously with Pat O’Leary, Lorna Wallen, Laurie Wieder, Steve Dawson, Paul O’Meara and Andrew Taylor each voting aye.
Mr. O’Meara brought a CD with him that contains the Word Documents for the website structure as well as the photographs purchased from Roger Snyder. Mr. O’Meara showed IDA members Mr. Snyder’s photographs of Westminster at Lake Ridge, Sentara Potomac Hospital, Freestate Farms Recycling facility on Balls Ford Road, St. John Paul the Great Catholic High School, Novant Prince William Hospital, Innovation Park, Novant Haymarket Medical Center, George Mason University’s SciTech Campus student apartments and Biomedical Research Lab, and Glen Arbor Apartments. He then showed the aerial photographs of the Neabsco Creek Dredging project. Mr. O’Meara made a video discussing the achievements of the IDA. IDA members enjoyed the video and thanked Mr. O’Meara for his detailed work on the website project. Mr. O’Leary noted that Mr. O’Meara did an excellent job of creating the materials for a new website. Mr. O’Meara provided the CD to Ms. Barbee. Ms. Wieder clarified that Ms. Barbee and Ms. Flory will be able to post items to the new website but they are not designing and creating the website. The IDA has $5,000 allocated in the current budget for the website. Mr. Gordon asked if the next step is to solicit bids. Ms. Wieder asked who the Flory Center utilized for its website and Ms. Flory responded that Joe Marshall of Sire Studios created the Flory Center website using Square Space. Mr. O’Leary asked if IDA members are in agreement to seek bids on development of a new website. Ms. Wieder noted that Andrew Taylor had previously mentioned Patrick King of Imagine, Inc. He is someone that should also be asked to submit a bid. She suggested also asking MDA Technologies, the current provider, to submit a bid. Mr. O’Meara will email the video to all IDA members. Ms. Wieder noted that the basic outline prepared by Mr. O’Meara could be provided to the three providers and see what is received from each of them. Mr. O’Leary suggested holding a second meeting on Monday, January 14, 2019. Steve Dawson will be out of town but could call in to give his ideas. Doug Taggart anticipates being formally appointed tomorrow and he can participate on January 14, 2019. Mr. O’Leary asked that everyone come prepared to discuss the website and the vision of the IDA. Mr. O’Leary would like to hear each member’s ideas. The IDA now has available roughly $235,000 a year that was being allocated to the Flory Center, plus the $50,000 recently refunded and the $500,000 self-insurance that does not need to be in reserve now that the IDA has Liability Insurance. Mr. O’Leary wants members to consider what should the IDA be doing in terms of economic development? A few weeks ago, Mr. Taylor made a point that the IDA is not really allowed to be in business and Mr. O’Leary agrees. However, the Flory Center was a separate corporation. Mr. O’Leary encouraged each member to bring their ideas.
OLD BUSINESS: Agreement between the IDA and Prince William County: Mr. Taylor received an email from Jeff Kaczmarek on December 21, 2018 that stated that he was retiring as of December 31, 2018 and that Deputy County Executive Chris Price would be the point of contact for discussing the agreement between the IDA and Prince William County. The email was copied to the BOCS and the County Attorney. Mr. O’Leary stated that he will set up a meeting to talk with Chris Price. Mr. O’Meara suggested a work session between the IDA and BOCS. He realizes the budget will take up the Supervisors time until April or May but believed a meeting could be established at a later date. Mr. O’Leary stated that the IDA and the BOCS met in a similar session many years ago and it was very helpful. Ms. Wieder will send IDA members a summary of the IDA’s finances in terms of how much funding is received, what amount is expended, and what is the amount available now. Mr. Taggart noted that he has a business and has been an active member of the community, so he is very familiar with audits, website development and RFPs and is able to be immediately involved in these discussions.
OTHER MATTERS TO COME BEFORE THE AUTHORITY:
Steve Dawson asked if any of the IDA members had received their financial disclosure forms and no one had.
Mr. O’Leary wished Brian Gordon much success in his future endeavors as he moves to Richmond.
Ms. Wallen asked IDA members to remember Supervisor Jenkins who had a double knee replacement and subsequently developed pneumonia during his recovery and has been quite ill.
The next meeting of the Prince William County IDA is Monday, January 14, 2019 at 6:30pm. The place will be determined.
There being no further business to come before the Authority, the meeting was adjourned at 8:08pm on the motion of Lorna Wallen seconded by Steve Dawson.
APPROVED February 4, 2019