Albemarle County Economic Development Authority
The Albemarle County Economic Development Authority is responsible for promoting and encouraging development in Albemarle County. The Authority was formerly known as the Industrial Development Authority and is an active partner in implementing the Project ENABLE economic development strategy working alongside Albemarle County Economic Development.
The Authority secures bond financing for non-profit organizations with major capital projects and also serves as a conduit for grant funding from various sources.
Economic development projects
Many initiatives that the EDA and the county's economic development office work on have code names such as Turtle, Daffodil, Macintosh, Proton, Patriot, Bronco, and 49ers. Others include Gadget, Puma, and Baja.
- October 19, 2021 – The EDA authorized a performance agreement for the Bonumose demonstration facility in the former State Farm building. This has the code name Project Leopard. [1]
Non-profit examples
- The Westminster Canterbury facility in Pantops
- The Monticello Vistor's Center (2009) and purchase of Montalto property.
- Capital equipment for the University of Virginia (e.g. information technology)
- Albemarle County's public safety and office facilities
The Fitch ratings agency rated the EDA's $78 million in revenue bonds as AA+ in 2011. [2]
History
The Industrial Development Authority was created on May 12, 1976.[3] It is a political subdivision of Virginia and seen as an independent and separate entity from the county government, similar to the Albemarle County Service Authority.
Members
- Donald Long, Chair, At-large (term expires January 19, 2027)
- George Ray, Vice Chair, Rio District (term expires January 19, 2026)
- Andrea Johnson, Secretary/Treasurer, Jack Jouett District (term expires on January 19, 2027)
- Jeff Morrill, Samuel Miller District (term expires on January 19, 2024)
- Stephen McNaughton, Rivanna District (term expires January 19, 2026)
- John Mottola, White Hall District (term expires January 19, 2026)
- Vacant, Scottsville District (term expires on January 19, 2024)
Three members resigned in July 2020 rather than sign conflict of interest forms. [citation needed] ]
External links
- Economic Development Authority's entry on County website
- https://ia2010.albemarle.org/EconDev/eda/default.aspx Meeting schedule]
References
- ↑ Web. Bonumose to set up Hershey Research Plant at former State Farm HQ, Sean Tubbs, News Article, Town Crier Productions, October 15, 2021, retrieved March 13, 2022.
- ↑ Web. [1], Fitch Rates Albemarle County Econ Dev Auth, VA's $78MM Revenue Bonds 'AA+'; Outlook Stable, June 2, 2021, retrieved June 27, 2021.
- ↑ "Boards and Commissions Maintenance." Albemarle County Website. Albemarle County, n.d. Web. 23 July 2009. <http://www.albemarle.org/>.