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Tazewell County IDA approves VCEDA deadline extensions, ACH payment with AEP and check-order authorization
Summary
The IDA voted to seek VCEDA deadline extensions for Richlands Power and Project Ponderosa, approved establishing ACH payments with AEP to avoid late fees, and authorized staff to purchase new checks from the most competitive vendor.
At its Feb. 11 meeting the Industrial Development Authority of Tazewell County approved several administrative and finance actions intended to keep active projects on schedule and reduce operational friction.
The Authority authorized staff to apply for deadline extensions from the Virginia Coalfield Economic Development Authority (VCEDA) for two items: a loan/forgivable-loan renewal for the Richlands Natural Gas/Power Project and a grant extension for Project Ponderosa’s meat-packing facility. Both extension motions were made by Melanie Protti‑Lawrence and carried 6–0.
To reduce recurring late fees on utility bills, the board approved establishing an automated clearing-house (ACH) payment arrangement with American Electric Power (AEP). Economic Development Director Tim Danielson said bills arrive on staggered dates and the IDA has incurred late fees; the motion to set up ACH (with staff to provide statements to the IDA for later ratification) was moved by Rick Chitwood, seconded by Melanie Protti‑Lawrence and passed 6–0.
On routine financial operations, the Authority approved January 2026 General and Grant account bank statements and authorized Economic Development staff to purchase new preprinted checks from the most competitive vendor. Staff reported the IDA averages roughly 200 checks per year; two vendor options were noted (a local vendor, Venture Printing, and QuickBooks online pricing) and the board favored sourcing based on competitiveness and, where practical, a local vendor preference. Motions approving the bank statements and the check-purchase authorization passed unanimously among members present when voted.
No public comments were recorded and the minutes show the actions were adopted without recorded dissent. The board recessed briefly and later reconvened to conduct further executive-session business and subsequent votes.
