AGENDA DATE: 4/16/2025
TITLE:
Title
Board of Supervisors and Economic Development Authority Memorandum of Understanding
BODY
SUBJECT/PROPOSAL/REQUEST: Approve the revised Memorandum of Understanding between the Board of Supervisors and the Economic Development Authority
ITEM TYPE: Consent Action Item
STAFF CONTACT(S): Richardson, Henry, Kilroy
PRESENTER (S): N/A
LEGAL REVIEW: Yes
REVIEWED BY: Jeffrey B. Richardson
BACKGROUND: In August 2024, the Board and the Economic Development Authority (EDA) met for a joint session to discuss the EDA's interest in adopting a revised Memorandum of Understanding (MOU) to facilitate the County's current economic development priorities, especially as it related to the Rivanna Futures project. Based on the discussion during that session, in December 2024, the EDA presented the Board with a draft term sheet and the Chair of the EDA facilitated a work session with the Board to gain additional feedback to inform the development of a draft MOU.
STRATEGIC PLAN: Quality of Life - Encourage a vibrant community with economic and recreational opportunities that serve all community members
DISCUSSION: Using the draft term sheet and the feedback provided by the Board of Supervisors, a draft MOU has been prepared (Attachment A). The terms included on the MOU closely parallel the term sheet, with one exception - in discussion with staff, the matter of administrative fees to paid by the EDA would be detailed in a Fiscal Services Agreement, to be drafted and entered into as a separate agreement at a later date. The EDA approved the draft MOU at its March meeting.
BUDGET IMPACT: There is no budget impact associated with adoption of the MOU. When the Fiscal Services Agreement is drafted, however, it will include an administrative fee to be paid by the EDA to Albemarle County, which will generate revenue for Albemarle County.
RECOMMENDATION:
Recommendation
Staff recommend that the Board approve the MOU provided as Atta...
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