Albemarle County Economic Development Authority

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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.

The Authority secures bond financing for primarily non-profit organizations with major capital projects. Examples include:[1]

The Fitch ratings agency rated the EDA's $78 million in revenue bonds as AA+. [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, 2023)
  • George Ray, Vice Chair, Rio District (term expires January 19, 2022)
  • David Shreve, Secretary/Treasurer, Jack Jouett District (term expires on January 19, 2023)
  • Kat Imhoff, Samuel Miller District (term expires on January 19, 2024)
  • Stuart Munson, Scottsville District (term expires on January 19, 2024)
  • Stephen McNaughton, White Hall District (term expires January 19, 2022)
  • John Mottola, Rivanna District (term expires January 19, 2022)


Three members resigned in July 2020 rather than sign conflict of interest forms. [citation needed] ]

External links

References

  1. "Interview with John Lowry, Chairman, Albemarle County Economic Development Authority." Personal interview by Brian A. Wheeler. Charlottesville Tomorrow. 8 September 2009.
  2. Web. [1], Fitch Rates Albemarle County Econ Dev Auth, VA's $78MM Revenue Bonds 'AA+'; Outlook Stable, June 2, 2021, retrieved June 27, 2021.
  3. "Boards and Commissions Maintenance." Albemarle County Website. Albemarle County, n.d. Web. 23 July 2009. <http://www.albemarle.org/>.