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File #: 19-238    Version: 1 Name:
Type: Agreement/Contract Status: Action Items
File created: 3/25/2019 In control: Board of Supervisors
On agenda: 4/17/2019 Final action:
Title: Potter's Craft Cider Performance Agreement
Attachments: 1. Att. A - Draft Agreement, 2. Att. B - Resolution
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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AGENDA DATE: 4/17/2019

TITLE:
Title
Potter's Craft Cider Performance Agreement
BODY

SUBJECT/PROPOSAL/REQUEST: Approval of an Economic Development Performance Agreement between the County of Albemarle, the Economic Development Authority of Albemarle County, and Potter's Craft Cider

ITEM TYPE: Regular Action Item

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

PRESENTER (S): J.T. Newberry

LEGAL REVIEW: Yes

REVIEWED BY: Jeffrey B. Richardson

BACKGROUND: Potter's Craft Cider was founded in Albemarle County in 2011. In October 2018, staff learned of Potter's Craft, LLC's intention to expand its production facility and open a tasting room. Staff contacted the Virginia Department of Agriculture and Consumer Services (VDACS) to determine if such an expansion could be supported by a grant from the Governor's Agriculture and Forestry Industries Development Fund (AFID). In November 2018, staff from VDACS and the County visited property owned by Potter's Craft, LLC to gather additional information. Based on a projected capital investment of $1,560,000, the creation of 12 full-time equivalent jobs (FTE), and a commitment to purchasing 2,572,060 pounds of Virginia-grown apples, VDACS informed the County that the company's expansion plans qualified for a grant of up to $50,000 (see Attachment A).

AFID grants are performance-based incentives that are subject to claw-back provisions over a three-year performance period. AFID grants require a dollar to dollar match from the locality where the business investment will be located. Recipients of AFID grants must submit annual progress reports to document their progress towards estimated growth targets for three categories: capital investment, job creation, and purchase of Virginia-grown products.

STRATEGIC PLAN: Develop an Economic Development Program: Project ENABLE will implement strategies that create an economy driven by business, industry, and institutions in a way that compleme...

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