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File #: 19-354    Version: 1 Name:
Type: Information Only Status: Agenda Ready
File created: 6/6/2019 In control: Board of Supervisors
On agenda: 6/18/2019 Final action:
Title: Joint Board of Supervisors and Economic Development Authority Consideration of Economic Development Policies
Attachments: 1. Att.A - Summary of Feedback and Revisions, 2. Att.B - Revised Draft ENABLE Grant Policy, 3. Att.C - Revised Draft Virginia Jobs Investment Program (VJIP) Policy, 4. Att.D - Revised Draft Commonwealth Development Opportunity Fund (COF) Policy, 5. Att.E - Revised Draft Agriculture Forestry Industries Development Fund (AFID) Policy, 6. Att.F - Meeting Agenda for June 18th, 7. Att.G - Existing MOU between the Board of Supervisors and Economic Development Authority, 8. Att.H - Resolution for ENABLE Grant Policy, 9. Att.I - Resolution for VJIP Grant Matching Policy, 10. Att.J - Resolution for COF Grant Matching Policy, 11. Att.K - Resolution for AFID Grant Matching Policy, 12. Att.L - Signed Perrone Performance Agreement, 13. Att.M - Co.EDA.Perrone.Agrmnt
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AGENDA DATE: 6/18/2019

TITLE:
Title
Joint Board of Supervisors and Economic Development Authority Consideration of Economic Development Policies
BODY

SUBJECT/PROPOSAL/REQUEST: Joint Discussion and Adoption of Four Economic Development Policies to Assist with the Implementation of Project ENABLE

ITEM TYPE: Regular Action Item

STAFF CONTACT(S): Richardson, Walker, Kamptner, DeLoria, Johnson, Newberry, Schmack

PRESENTER (S): Roger Johnson, J.T. Newberry

LEGAL REVIEW: Yes

REVIEWED BY: Jeffrey B. Richardson

BACKGROUND: Following the adoption of Project ENABLE in December 2018, staff began working on several short-term initiatives, including the creation of County policies for at least three economic development tools by the middle of 2019 (Goal 3 - Lead the County's Readiness to Accommodate Business).

Staff received feedback from the Economic Development Authority (EDA) on the draft policy for individual economic development tools at each of its regular meetings from February to May 2019. The Board of Supervisors provided feedback on all four drafted policies in a work session on May 15, 2019. The four economic development tools reviewed by each body are a local capital investment grant ("ENABLE Grant") as well as three state grants: Virginia Jobs Investment Program (VJIP), Commonwealth Development Opportunity Fund (COF), and Agriculture Forestry Industries Development Fund (AFID). Staff prioritized policy development for these state grants because they are already being utilized by the County and additional County businesses could soon become eligible to apply for one (or more) of these grants.

STRATEGIC PLAN: Economic Prosperity: Foster an environment that stimulates diversified job creation, capital investments, and tax revenues that support community goals

DISCUSSION: Staff received diverse feedback during the review of the four proposed economic development policies. Staff observed the feedback broadly fell into two categories: areas of co...

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