AGENDA DATE: 7/20/2022
TITLE:
Title
Building Reuse Grant Policy Update.
BODY
SUBJECT/PROPOSAL/REQUEST: Request Board Support for adding the Town of Scottsville as an eligible area for the Building Reuse Grant administered by the Economic Development Authority
ITEM TYPE: Consent Action Item
STAFF CONTACT(S): Richardson, Walker, DeLoria, Johnson, Newberry, Perry
PRESENTER (S): Roger Johnson, J.T. Newberry
LEGAL REVIEW: Yes
REVIEWED BY: Jeffrey B. Richardson
BACKGROUND: At the Board of Supervisors and Economic Development Authority (EDA) joint meeting on October 19, 2021, both bodies expressed support for creating a Building Reuse Grant to assist growing businesses that could not find suitable commercial or industrial space within the County and adaptively reuse existing buildings in the development area. Each body recognized that the limited supply of commercial and industrial space created a barrier to economic vitality and undermined the goals of Project ENABLE, the County’s Economic Development Strategic Plan. This grant would support businesses or property owners making capital investments in previously vacant commercial or industrial space to make business expansion possible. Staff was directed to develop a policy for the grant such that its criteria could be informed by the Board, but the review process could be administered by the EDA.
STRATEGIC PLAN: Economic Prosperity - Foster an environment that stimulates diversified job creation, capital investments, and tax revenues that support community goals.
DISCUSSION: The Board approved the first draft of the Building Reuse Grant Policy on May 18, 2022. Shortly thereafter, staff recognized the approved policy unintentionally omitted commercially or industrially-zoned properties within the Town of Scottsville. Eligible properties were limited to “commercially or industrially-zoned space within the Development Areas.” The Town of Scottsville is not identified as a Development Area within the Comprehensive Plan.
Staff revised the proposed policy to include eligible properties within the Town of Scottsville (see Attachment A). At their meeting on June 21, 2022, the EDA supported the revised policy.
BUDGET IMPACT: No budget impact is anticipated. If approved, the Economic Development Office will reserve a portion of the Economic Development Investment Pool for Building Reuse Grant opportunities.
RECOMMENDATION:
Recommendation
Staff recommends the Board adopt the Resolution (Attachment B) approving the updated Building Reuse Grant Policy.
ATTACHMENTS:
A - Updated Building Reuse Grant Policy (dated June 1, 2022)
B - Resolution