Charlottesville Economic Development Authority (CEDA)
                            Meeting Minutes – May 14, 2019


Members Present            Staff Present        Others Present
Tara Boyd                 Chris Engel           Reid Young
Ed Schmitz                Hollie Lee
Nicole Fernandez          Jason Ness
Paul Beyer                Trish Carpenter
Jay O’Donnell

A meeting of the Charlottesville Economic Development Authority occurred on Tuesday,
May 14, 2019 at CitySpace. The chair, Ms. Boyd, called the meeting to order at 4:01 PM.

Ms. Boyd opened the public comment period and there being no comments from the
public, she proceeded to the next agenda item.

Ms. Boyd called for a motion to approve the items on the Consent Agenda. Mr. Schmitz
moved, second by Chairperson Boyd and all present voted aye. Motion passed.

Mr. Engel presented outgoing board member Mr. Young with a plaque and thanked him
for his years of service on the board. Ms. Shears, also an outgoing member with 8 years of
service, could not be present at the meeting but will also receive a plaque.

Ms. Boyd welcomed the new board members, Nicole Fernandez and Jay O’Donnell and
gave a little background on each of the new members.

Mr. Engel reviewed with the board the key findings related to the Conference Center
Feasibility study that was commissioned by the Charlottesville Convention and Visitors
Bureau. Some of the key findings: hotel inventory is growing in both the City and County;
current venues in the area have limited ballroom space, report evaluated number of
attendees it would attract as well as number of nights for hotel occupancy, the economic
impact and taxes. In conclusion, while the report identifies a demand for a 50,000 square
foot facility, the financial pro forma demonstrates a clear need for a substantial public
subsidy to stabilize the facility during its first decade.

Mr. Engel reviewed the Opportunity Zone joint marketing flyer which highlights four zones,
two each located within the City and the County. The flyer was produced by the city and
county for investment groups interested in reinvesting capital gains in the area.

Mr. Engel shared a marketing flyer for the new Cville Match program. The new program
encompasses the former VJIP match program as well as three additional matching grants
for SBIR, STTR and CRCF grant recipients. The goal is to continue to encourage and assist
high impact enterprises with their growth in the city.
Brown Edwards will once again serve as the auditor for CEDA. The Brown Edwards
engagement letter was presented to the board for informational purposes. The audit
process is due to start in August. Auditors could call upon board members during the audit
process.

There being no further business, Ms. Boyd adjourned the meeting at 4:45 PM.




                                                    _______________
Chris Engel, Secretary                                 Date



Date Approved by CEDA