AGENDA DATE: 4/20/2022
TITLE:
Title
Barnes Lumber Addendum to Crozet New Town Associates, LLC, Development Agreement
BODY
SUBJECT/PROPOSAL/REQUEST: Provide a comprehensive status update on the Barnes Lumber Project in Downtown Crozet, and approval of an addendum to the development agreement with Crozet New Town Associates, LLC.
ITEM TYPE: Regular Action Item
STAFF CONTACT(S): Richardson, Walker, Hudson, DeLoria, Johnson, Abplanalp
PRESENTER (S): Doug Walker, Roger Johnson, Lance Stewart, Frank Stoner
LEGAL REVIEW: Yes
REVIEWED BY: Jeffrey B. Richardson
BACKGROUND: In 2019, Albemarle County entered into a public-private partnership with Crozet New Town Associates, LLC, to redevelop the former Barnes Lumber site in Downtown Crozet (Attachment A). This site had been planned for redevelopment since 2006 but had not organically happened. The public-private partnership was the result of the Board of Supervisors, Economic Development Authority, and staff acting to catalyze the redevelopment of this site through infrastructure investment and additional support. The public-private partnership was a recognition that this project would likely not move forward in a desirable manner without the County's participation, if at all.
The partnership is governed by a Development Agreement that requires both the County and developer to provide financial and in-kind support. The Development Agreement includes five prominent elements of the overall project: predevelopment, road network, public plaza, financing, and downtown development. Attachment A provides an overview of the Development Agreement.
STRATEGIC PLAN: Thriving Development Areas - Attract quality employment, commercial, and high-density residential uses into development areas by providing services and infrastructure that encourage redevelopment and private investment while protecting the quality of neighborhoods.
DISCUSSION: To complete the Barnes Lumber project under the Development Agreement, ...
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