AGENDA DATE: 7/13/2016
TITLE:
Title
The Powers, Duties, and Role of the Albemarle County Economic Development Authority
BODY
SUBJECT/PROPOSAL/REQUEST: Consideration of the powers, duties and role of the Economic Development Authority; schedule a public hearing to consider proposed amendments to County Code ? 2-600 et seq.
ITEM TYPE: Regular Action Item
STAFF CONTACT(S): Foley, Kamptner, McClintic
PRESENTER (S): Greg Kamptner and Faith McClintic
LEGAL REVIEW: Yes
REVIEWED BY: Thomas C. Foley
BACKGROUND: County Code ? 2-605 requires that all by-laws, standards, and priorities of the EDA, and any amendments to those documents, be approved by the Board of Supervisors prior to their adoption by the EDA. The EDA's By-laws and Rules and Procedures (Attachments E and F), along with its Fiscal Services Agreement with the County (Attachment G), each include provisions that implement County Code ? 2-605 by requiring either Board approval or County agreement before the EDA may act on many matters (e.g., By-laws, Article VIII, Section 1; Rules and Procedures, Section 4.3(c); Fiscal Services Agreement, Section 6).
Since the EDA was created by the Board on May 12, 1976, its primary role has been to serve as a conduit issuer of bonds. More recently, it also has served as a conduit for providing grants to businesses (Route 29 Solutions, and those under the Board's Economic Opportunity Fund in conjunction with State programs) and a loan to a non-profit organization (Lewis & Clark Exploratory Center).
STRATEGIC PLAN: Goal 4: Economic Prosperity: Foster an environment that stimulates diversified job creation, capital investments, and tax revenues that support community goals.
DISCUSSION: The purpose of this work session is to discuss the powers, duties, and role of the EDA and whether the County Code should be amended to lift the restrictions in County Code ? 2-605.
Over the past several years, the Board has taken steps to promote economic development....
Click here for full text