AGENDA DATE: 11/9/2016
TITLE:
Title
Economic Development Authority Ordinance Amendment
BODY
SUBJECT/PROPOSAL/REQUEST: Public hearing regarding an ordinance to amend County Code Chapter 2, Administration, Article 6, Economic Development Authority, to restate the Economic Development Authority's creation, powers, duties, and procedures
ITEM TYPE: Regular Action Item
STAFF CONTACT(S): Foley, Kamptner, McClintic
PRESENTER (S): Greg Kamptner
LEGAL REVIEW: Yes
REVIEWED BY: Thomas C. Foley
BACKGROUND: Since the Economic Development Authority (EDA) was created by the Board of Supervisors on May 12, 1976, its primary role has been to serve as a conduit issuer of bonds. 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).
Over the past six years, the Board has taken a more proactive perspective toward economic development, recognizing several community needs, particularly in the County's Development Areas. In 2010, the Board adopted an Economic Vitality Action Plan which translated the purpose and goals of the Economic Development Policy in the Comprehensive Plan at that time into concrete and measureable actions, being very mindful of the need to adhere to already established growth management objectives and natural resource protections. In 2012, the Board received the Albemarle County Existing and Target Industry Analysis prepared by the Thomas Jefferson Partnership for Economic Development, which analyzed target industry groups and sectors identified for the County. In 2015, the Economic Development Office was established and the director for that office was appointed. An Economic Development Strategic Plan is currently being developed and is expected to be presented to the Board in December.
The Board also has recently adopted several general pol...
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