Latest From the Lee County Industrial Development Authority

The Lee County Industrial Development Authority held their monthly meeting on March 1st 2018.The board members approved the February 1, 2018 meeting minutes, along with the financial report, bills and payments.
In new business, Jeff Cochran, with the Lane Group gave an update on the Dryden Building Project that is ongoing. Cochran stated that advertisements for bids for renovation and repair had been place with a due date of March 20th, 2018.
Following discussions concerning the earliest date that the winning bid could be awarded, Cochran stated that a recommendation could be made quickly, adding that mobilization should happen within twenty days of the awarded bid.
Formal resolution of the addition of $100,000 to a loan from Virginia Coalfield Economic Development Authority the VCEDA was approved although the original loan was for $250,000.
During the old business discussion, Cochran offered that they are waiting for approval by the Virginia Department of Transportation or VDOT for the Constitutional Oaks Preliminary Engineering Report, further adding that VDOT is still reviewing the report.
Afterwards the IDA board entered into a closed session with no further announcements. They are scheduled to meet again on Thursday evening March 22nd at 6pm in the third floor conference room at the Lee County Courthouse.

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