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Home My WebLink About12-20-89December 20, 1989 8664 Minutes of the special meeting of the Pulaski Town Council held December 20, 1989, at 4:00 p.m. in the County Administration Building. Meeting held jointly with the Pulaski County Board of Supervisors and the Industrial Development Authority. There were present from the Town: Mayor Gary C. Hancock Council Members: James M. Neblett, Mary Lou Copenhaver, James R. Neighbors, Andrew L. Graham, W. H. Schrader, Jr., Alma H. Holston J. R. Schrader, Jr. Also Present: Frank Terwilliger, Town Attorney Anne Burgess, Interim Town Manager Ruth A. Harrell, Clerk Pulaski County Board of Supervisors Industrial Development Authority Representatives from Renfro Corp. Visitors: Wayne Quesenberry, Madelyn Rosenberg, Channel 7 of the news media The purpose of the special meeting was a press release issued jointly by the Town Council, The Board of Supervisors and the Induffitrial Development Authority. 1 A copy of the press release follows: g Chairman Vaughan, Mayor Hancock and James Dix Miller welcomed ~ Renfro Corporation visitors, and they were wished every success in their p new venture.' N p Mr. Robert Merritt, Chairman of Renfro Corp., stated they were M delighted to be in Pulaski and felt their new expansion would create 250 I new jobs. He also stated they enjoyed working with the staffs involved ~ and they expect to keep growing. D At this time, a Resolution concurring in the proposed financing of g the Renfro facility by the Industrial Development Authority of Pulaski p County and an Ordinance authorizing execution of an agreement with g Renfro Corporation and the Industrial Development Authority of Pulaski L County were presented. Councilman Neblett so moved that reading of the p resolution and ordinance be waived, seconded by Vice Mayor Neighbors and p carried. M g Councilwoman Holston so moved that Resolution be adopted, seconded N by Vice Mayor Neighbors and carried on the following recorded votes T James M. Neblett - Aye Andrew L. Graham - Aye 8665 December 20, 1989 J. R. Schrader, Jr. - Aye W. H. Schrader, Jr. - Aye Mary Lou Copenhaver - Aye Alma H. Holston - Aye James R. Neighbors - Aye Ira S. Crawford - Absent RESOLUTION RESOLUTION ADOPTED Concurring in the proposed Financing of the Renfro Facility By the Industrial Development Authority of Pulaski County BE IT RESOLVED by the Town Council of the Town of Pulaski, Virginia, sitting in special session on December 20, 1989, that the T n Council does hereby concur with the resolution of the Industrial Development Authority of Pulaski County dated December 20, 1989, relating to the proposed construction of a facility to be leased to Renfro Corporation. This resolution is intended to satisfy the requirements of S15.1- 1378 of the Code of Virginia, as amended, and to evidence the Town Council's consent to said Authority's participation in a project within the Town boundaries. This resolution is effective upon its adoption. Councilman W. H. Schrader so moved that Ordinance be adopted, seconded by Councilman J. R. Schrader and carried on the following recorded vote: James R. Neblett - Aye Andrew L. Graham - Aye J. R. Schrader, Jr. - Aye W. H. Schrader, Jr. - Aye Mary Lou Copenhaver - Aye Alma H. Holston - Aye James R. Neighbors - Aye Ira S. Crawford - Absent ORDINANCE ORDINANCE ADOPTED Authorizing Execution of an Agreement with Renfro Corporation and the Industrial Development Authority of Pulaski County BE IT ORDAINED by the Town Council of the Town of Pulaski, Virginia, that the Town Council does hereby authorize and direct the Honorable Gary C. Hancock, Mayor, to execute an agreement with Renfro Corporation and the Industrial Development Authority of Pulaski County, for the purpose of undertaking a joint industrial development project in the Town of Pulaski which will result in increased jobs and an increased tax base in the Town. The Town Manager and Town Treasurer are authorized to expend funds necessary to fulfill the Town's obligations under said agreement; provided, however, that such funds shall be drawn from the Pulaski Furniture UDAG repayment funds and not from the General Account of the Town; and, provided, further, that in no event shall more than $300,000.00 be so expended. This Ordinance is conditioned upon the restriction that in no event will the contract or any obligation there under be deemed a pledge of the full faith and credit of the Town or a general obligation of the Town of Pulaski, Virginia. This Ordinance is effective upon adoption and is adopted this 20th day of December, 1989. December 20, 1989 8666 Resolutions were then adopted by the Board of Supervisors on Motion made by Mr. White, seconded by Mr. Vaughn and carried by recorded vote. The Industrial Development Authority then adopted the contract and resolution authorizing the officers to sign on motion made by Mr. Elmore, seconded by Mr. Mayberry and carried. At this time, the contract was signed by all parties. Mayor Hancock stated we had enjoyed working with the officiald from Renfro, and thanked the Board of Supervisors and the Industrial Development Authority for their cooperation. At 4:20 p.m. Chairman Vaughan adjourned the meeting. APPROVED: / Attest `" ~~~(((/// Mayor Clerk of Counci NEWS RELEASE Renfro Corporation Chairman Robert Merritt and President Warren Nichols announced today an expansion of its hosiery manufacturing facilities in Pulaski, Virginia. The announcement came at a joint meeting of the Pulaski County Board of Supervisors, Pulaski Town Council and the Industrial Development Authority of Pulaski County. The new 100,000 square foot manufacturing plant will be located on Bob White Boulevard in the Town of Pulaski adjacent to the new Appalachian Power Company Service Center. The plant site is expected to occupy more than fifteen acres and the building expected to cost $2.5 million. Equipment valued at more than $1 million will bei installed in the building. This facility will be Renfro's second Pulaski facility. Renfro purchased the former Virginia Maid Hosiery Mill in Pulaski in 1986. Renfro currently employs approximately 400 persons in Pulaski. The new facility is expected to expand the Renfro employment by at least 250 new jobs. The Mount Airy, North Carolina based corporation is a major national hosiery manufacturer, producing primarily ladies and girls fashion socks. Renfro markets largely through major retail chain stores. Many of its products are sold under itsr "Gitano" label. The expansion is made possible through a joint effort of the Pulaski Town Council and the County Board of Supervisors. The Town Council will acquire and prepare the site for the new building. The Board of Supervisors will authorize the' County Industrial Development Authority to construct the building to suit Renfro's needs. Renfro will lease the building for a five year term, with an option to purchase the building"during the five year lease period. In addition to lease payments, Renfro will pay an additional rent on the building equal to all town and ' county taxes that would be owed if the building was privately owned. Rent payments.,., will be increased should Renfro not meet its employment goal of fifty new jobs per year during the five year lease term. Preliminary design work is underway on the facility by Draper Aden Associates, Inc., engineers, and Rogers and Reynolds, architects, of Blacksburg. The new plant is scheduled for occupancy by late summer of 1990. The announcement marks the completion of a cooperative effort between the town and county to encourage the company to expand its facilities in Pulaski. That effort has been underway over the past year. Mayor Gary Hancock and County Board of Supervisors Chairman Mason Vaughan, Sr. commended the cooperation between the Board and the Council to encourage this major manufacturing expansion to become a reality. An Alliance to tM Pro~wsiw D~wlopnNnt Of Pu1~Nci OouiKy December 20, 1989 8667 WAIVER OF NOTICE OF SPECIAL MEETING We, the undersigned, duly elected members of the Council of the I Town of Pulaski, Virginia, hereby waive notice of a Special meeting of i said Council at 4:00 p.m. on the 20th day of December, 1989, for the f purpose of a joint press release with the Pulaski County Board of Supervisors and the Industrial Development Authority. WITNESS our signatures this 20th day of December, 1989. i G`'!• ~/J 1 ~.. 4