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File #: 19-347    Version: 1 Name:
Type: Appointment Status: Action Items
File created: 6/5/2019 In control: Board of Supervisors
On agenda: 6/19/2019 Final action:
Title: Authorization to Execute an Economic Development Agreement for a Public-Private Partnership (PPP) with Crozet New Town Associates, LLC SUBJECT/PROPOSAL/REQUEST: Staff is seeking the Board's authorization to move forward with a performance agreement for Project Patriot ITEM TYPE: Regular Action Item STAFF CONTACT(S): Richardson, Walker, Kamptner, DeLoria, Johnson, Newberry, Stewart, Allshouse, S. PRESENTER (S): Doug Walker, Roger Johnson, Frank Stoner LEGAL REVIEW: Yes REVIEWED BY: Jeffrey B. Richardson BACKGROUND: Under the proposed Development Agreement, Albemarle County would be partnering with Crozet New Town Associates, LLC (Developer) in a specific Public-Private Partnership (PPP) arrangement at the former Barnes Lumber site in Downtown Crozet. The County would be providing financial and in-kind support for the construction of a public plaza, a Main Street road network, and expansion of the Central Business District in Downtown Crozet. This project site has been pl...
Attachments: 1. Att.A - Performance Agreement, 2. Att.B - Resolution
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AGENDA DATE: 6/19/2019

TITLE:
Title
Authorization to Execute an Economic Development Agreement for a Public-Private Partnership (PPP) with Crozet New Town Associates, LLC

SUBJECT/PROPOSAL/REQUEST: Staff is seeking the Board's authorization to move forward with a performance agreement for Project Patriot

ITEM TYPE: Regular Action Item

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

PRESENTER (S): Doug Walker, Roger Johnson, Frank Stoner

LEGAL REVIEW: Yes

REVIEWED BY: Jeffrey B. Richardson

BACKGROUND: Under the proposed Development Agreement, Albemarle County would be partnering with Crozet New Town Associates, LLC (Developer) in a specific Public-Private Partnership (PPP) arrangement at the former Barnes Lumber site in Downtown Crozet. The County would be providing financial and in-kind support for the construction of a public plaza, a Main Street road network, and expansion of the Central Business District in Downtown Crozet. This project site has been planned for redevelopment since 2006 and has not organically happened. As a result, County staff is acting to catalyze the redevelopment of this site. The County is providing investment in infrastructure and support to promote the general redevelopment of this valuable and unique site. The justification for the County's participation in this arrangement includes an assertion that this project:

? Is consistent with the Comp Plan in areas of land use, economic development and transportation
? Supports redevelopment, placemaking, and economic development
? Grows the commercial tax base
? Supports site readiness for growth of a target industry
? Adaptively reuses a central business site
? Creates positive tax revenue growth

STRATEGIC PLAN: Economic Prosperity: Foster an environment that...

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