Lee County Industrial Development Authority Board Meeting

The Lee County Industrial Development Authority Board recently approved a funding application to the Virginia Tobacco Commission for “Company A” after an executive session meeting that was conducted jointly with the Lee County Board of Supervisors.
Aaron Fee, Community Development Director announced to the board that a Virginia Tobacco Commission grant for the Constitutional Oaks Industrial Park access road would soon expire. Fee further added that he would be seeking a one year extension.
Jeff Cochran, of the Lane Group, related that information pertaining to the road had been submitted to VDOT in February and that he was still waiting for remarks. Noting additionally that VDOT had commented in regards to establishing a conservation easement, which had been discussed at the June, July and August meetings.
Under New Business, the electric bill for the Dryden Building was discussed with the July bill totaling $6,806.58 and the IDA portion of the bill is $4,660.55 and that England Furniture would pay the remaining balance. Payment was approved from the Economic Development Funds.
Also approved for payment was an invoice from the Lane Group for the amount of $6,400 with the funds to be paid from the Virginia Coalfield Economic Development Authority and the Economic Development Funds.
The Board then voted and entered into Executive Session in order to discuss acquisition or disposition of real property, prospective business and consultation with legal counsel.
The IDA Board then adjourned until their next meeting to be held Thursday evening, October the 4th and 6p.m.

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