AGENDA DATE: 6/18/2019
TITLE:
Title
Joint Board of Supervisors and Economic Development Authority Consideration of Economic Development Policies
BODY
SUBJECT/PROPOSAL/REQUEST: Joint Discussion and Adoption of Four Economic Development Policies to Assist with the Implementation of Project ENABLE
ITEM TYPE: Regular Action Item
STAFF CONTACT(S): Richardson, Walker, Kamptner, DeLoria, Johnson, Newberry, Schmack
PRESENTER (S): Roger Johnson, J.T. Newberry
LEGAL REVIEW: Yes
REVIEWED BY: Jeffrey B. Richardson
BACKGROUND: Following the adoption of Project ENABLE <http://www.albemarle.org/navpages.asp?info=business> in December 2018, staff began working on several short-term initiatives, including the creation of County policies for at least three economic development tools by the middle of 2019 (Goal 3 - Lead the County’s Readiness to Accommodate Business).
Staff received feedback from the Economic Development Authority (EDA) on the draft policy for individual economic development tools at each of its regular meetings from February to May 2019. The Board of Supervisors provided feedback on all four drafted policies in a work session on May 15, 2019. The four economic development tools reviewed by each body are a local capital investment grant (“ENABLE Grant”) as well as three state grants: Virginia Jobs Investment Program (VJIP), Commonwealth Development Opportunity Fund (COF), and Agriculture Forestry Industries Development Fund (AFID). Staff prioritized policy development for these state grants because they are already being utilized by the County and additional County businesses could soon become eligible to apply for one (or more) of these grants.
STRATEGIC PLAN: Economic Prosperity: Foster an environment that stimulates diversified job creation, capital investments, and tax revenues that support community goals
DISCUSSION: Staff received diverse feedback during the review of the four proposed economic development policies. Staff observed the feedback broadly fell into two categories: areas of consensus and topics for further discussion. Attachment A provides a summary of the feedback received and identifies topics where additional discussion is needed. Staff revised each of the drafted policies according to the feedback characterized as areas of consensus. The revised policies can be found in Attachments B-E.
The topic of minimum wages and “career ladder opportunities” received significant discussion throughout the review of each policy and is a topic where staff is seeking additional direction. Staff invited Ridge Schuyler, Dean of Community Self-Sufficiency Programs at Piedmont Virginia Community College, to present wage information relevant to our community. This information about wages is aimed to inform the joint discussion on this topic. The final meeting agenda is found in Attachment F.
Following the policy discussion, staff is seeking feedback about priorities for Economic Development in the second half of 2019. Staff is expecting to advance the County’s prior work on tourism zones, continue promoting federally-designated Opportunity Zones, consider the adoption of technology zones, and bring forward strategies to maximize the effectiveness of the EDA and sustainably fund its activities. Finally, in conjunction with updating the EDA’s Bylaws and Rules of Procedure, staff envisions updating the memorandum of understanding between the Board and the EDA as directed in Section 3B (see Attachment G).
BUDGET IMPACT: No budget impact is anticipated with the adoption of these policies.
RECOMMENDATION:
Recommendation
Staff recommends that the Board and EDA adopt the drafted policies for each of the four economic development tools. Staff is also seeking input on the prioritization of additional economic development policies and future revisions to the existing memorandum of understanding.
ATTACHMENTS:
A: Summary of Feedback and Revisions
B: Revised Draft ENABLE Grant Policy
C: Revised Draft Virginia Jobs Investment Program (VJIP) Policy
D: Revised Draft Commonwealth Development Opportunity Fund (COF) Policy
E: Revised Draft Agriculture Forestry Industries Development Fund (AFID) Policy
F: Meeting Agenda for June 18th
G: Existing MOU between the Board of Supervisors and Economic Development Authority
H: Resolution for ENABLE Grant Policy
I: Resolution for VJIP Grant Matching Policy
J: Resolution for COF Grant Matching Policy
K: Resolution for AFID Grant Matching Policy
L: Signed Perrone Performance Agreement
M: Co.EDA.Perrone.Agrmnt