Qiarlottesville
             ECONOMIC DEVELOPMENT AUTHORITY


                Charfottesvtlle Economic Development Authority (CEDA)
                            Meeting Minutes - July 1 0, 2019


Members Present Staff Present Others Present
E+han Dunstan Chris Engel Stephen Davis, President CIC
Ed Schmitz Hoilie Lee
Adrian Felts Jason Ness
Paul Beyer Trish Carpenter
JayO'Donnell

A meeting of the Charlottesville Economic Development Authority occurred on
Wednesday, July 10, 2019 in the City Council Chambers. The vice-chair, Mr. Dunstan,
called the meeting to order at 4:04 PM.

Mr. Dunstan opened the public comment period and there being no comments from the
public/ he proceeded to the next agenda item.

Mr. Dunsfan called for a motion to approve the items on the Consent Agenda. Mr. Schmitz
moved, second by Mr. Beyerand oil present voted aye. Motion passed.

Mr. Engel gave an overview on the Resolution to support the Business Equity Fund Loan
Program. The program was initially funded by council and is in partnership with the
Community Investment Collaborative (CIC). The CIC underwrites, reviews and administers
the loans, OED interviews and refers eligible businesses. Three quarters of the funds have
been distributed and at this time there is an opportunity for CEDA to provide additionai
support through a one-time funding request of $50,000. Ms. Lee and Mr. Davis provided
additional information about the distribution of funds and other avenues to assist wi+h
replenishing the fund. Questions by the Board were asked in regards to the financials.
Vice-chair Dunstan requested a motion to approve $50,000 to go to the equity loan
program. Mr. Feits moved the motion, Mr, Schmitz second the motion, all present voted
aye. Motion passed.


Mr. Engel shared the letter regarding the upcoming Brown Edwards FY19 audit. The letter
is for informational purposes and outlines their process. Mr. Engel also informed the board
member$ present that the auditors could call upon them during the audit process.

Mr. Engel shared a copy of the Cville Match Program press release that was released on
June 1 A, 2019. Mr. Engel has been meeting with business owners to review the opportunity
available to them and vetting potential eligible businesses.

Mr. Engel also shared a copy of the Catalyst Program press release that was also recently
released. This program is a collaboration between GO VA, UVA, the County and the City
EDAs. It will begin in September.
There being no further business/ Mr. Dunstan adjourned the meeting at 4:30 PM.




Chris EngeL Secretary
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Date Approved by CEDA