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<br />April 24, 2006 <br /> <br />A special joint meeting of the Council of the City of Martinsville, Virginia <br /> <br />and the Henry County Board of Supervisors was held on April 24, 2006, in <br /> <br />Council Chamber, Municipal Building, beginning at 3:00 P. M. Council <br /> <br />Members present included: Joseph R. Cobbe, Mayor; Kimble Reynolds, Jr., <br /> <br />Vice-Mayor; and Council Members James W. Clark, J. Ronald Ferrill, and Terry <br /> <br />L. Roop. <br /> <br />Henry County Board members present included: H. G. Vaughn, <br /> <br />Chairman; Debra Buchanan, Vice-Chairman; Paula Burnette, Jim McMillian <br /> <br />and Andy Parker. Member Jim Adams was absent due to a death in his family. <br /> <br />The purpose of the meeting was to hear a presentation from the <br /> <br />Martinsville-Henry County Economic Development Corporation relative to their <br /> <br />proposal to construct a new shell building on a revenue-sharing lot In the <br /> <br />Patriot Centre. After a review of the findings of available buildings In the <br /> <br />Martinsville-Henry County area, the M-HCEDC recommended the following: <br /> <br />. Construct a 75,000 sq. ft. manufacturing facility, expandable to <br />150,000 sq. ft. on lot 5 in the Patriot Centre <br />· Tilt-up concrete <br />· 24'-28' ceiling heights <br />. External office design, with glass <br />. No floor, except small pad, balance stone <br />. Fully landscaped around office entrance, including paved parking <br />with curb and gutter <br />· 5% broker fee <br /> <br />The M-HCEDC will design a brochure and will handle the marketing of <br /> <br />the new building. Financing (worst case assumptions) will be as follows: <br /> <br />· Maximum cost 3.5 million <br />. M-HCEDC will ask all local banks to share construction loan, <br />based on market share and service loan at "no cost" <br />