Industrial Development Authority – LIVE! (7/14/15)

We’re LIVE! at Danville City Hall for today’s Danville Industrial Development Authority meeting. This article is now complete.

This is what the 4th Floor conference room looks like when empty.

Ok. So we’re here early. Heh.

Let’s get this meeting started.

We’re underway. The first step today is to elect officers. City Attorney Clarke Whitfield leads the meeting. Neal Morris is chairman. C.G. Hairston is vice-chairman, Shirley Primiano is secretary and Richard Turner is treasurer. After the election, Neal Morris talks about what the IDA does, what it has done and how it works. A lot of people are suspicious of what the IDA does, and the IDA could do a lot more when it comes to transparency. Now that I’ve learned a lot about what happens, I’m not suspicious of them anymore.

Mike Adkins knows where the money is.

Finance Director Mike Adkins goes over the financial reports. Lou’s Antique Mall withheld their $4000 November 2014 rent payment due to a dispute over light fixtures. That situation is being worked out.

Ken Jones’ Urban Fitness is buying 308 Court St. & 521 Loyal Street for expansion and more parking. He’ll pay the IDA $25K for both properties.

The IDA will spend around $79K to build a 18 space public parking lot at the corner of Wilson St. & Court St.

18 more parking spaces for downtown.

Next, the Atrium building is going to need $103,360 to upgrade the electrical service to 400 amps and to put a fire alarm system in. They’re also going to paint and upgrade plumbing in the space to be occupied by Bobby Carlsen’s photography studio.

Next comes a $50K loan to River District Lofts LLC. This will be for developing the 549 High St. property (the building that was crumbling down and the reason the street was blocked off) into apartments. 10 year loan, 4% interest. Nice terms, eh?

Closed session now.

I see this at every IDA meeting.

We’re back from closed session, and the board approves a new subtenant when Chestnut Lane moves out. They also approve a reduced legal from the firm that handles tax credit work.

Thanks for reading the most detailed coverage of local government meetings… only here on SouthsideCentral!