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File #: 21-230    Version: 1 Name:
Type: Agreement/Contracts Status: Action Items
File created: 3/15/2021 In control: Board of Supervisors
On agenda: 4/21/2021 Final action:
Title: Amendment to WillowTree Virginia Jobs Investment Program Match Grant Funding Agreement.
Attachments: 1. Att.A - Current VJIP Agreement (9/18/18), 2. Att.B - WillowTree VJIP Extension Request Letter, 3. Att.C - VEDP Extension Request Approval Letter, 4. Att.D - Amended VJIP Amendment, 5. Att.E - Resolution
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AGENDA DATE: 4/21/2021

TITLE:
Amendment to WillowTree Virginia Jobs Investment Program Match Grant Funding Agreement

SUBJECT/PROPOSAL/REQUEST: Approval of the First Amendment to the Virginia Jobs Investment Program (VJIP) Match Grant Funding Agreement between the County, the EDA, and WillowTree, Inc. to extend the performance date

ITEM TYPE: Regular Action Item

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

PRESENTER (S): Roger Johnson

LEGAL REVIEW: Yes

REVIEWED BY: Jeffrey B. Richardson

BACKGROUND: In 2018, Albemarle County and its Economic Development Authority (EDA) partnered with the Commonwealth of Virginia to support the redevelopment of the historic Woolen Mills site and the retention and expansion of WillowTree, Inc. The partnership with the Commonwealth utilized two different state grant programs - the Commonwealth Development Opportunity Fund (COF) and the Virginia Jobs Investment Program (VJIP).

The VJIP program provides funding to companies creating new jobs or experiencing technological change to reduce the human resource development costs for new companies, expanding companies, and companies retraining their employees. Unlike the COF grant program, the VJIP grant program does not require a match from the local government where the business is located.

STRATEGIC PLAN: Economic Prosperity - Foster an environment that stimulates diversified job creation, capital investments, and tax revenues that support community goals.

DISCUSSION: On September 18, 2018, the Board authorized the County Executive to execute a performance agreement allowing the County and the EDA to provide a combined maximum of $200,000 to match the Commonwealth's VJIP grant. For each new full-time job created in Albemarle County, the Commonwealth provides a $1,000 grant. To match it, the County provides $500 per job and the Albemarle County EDA provides $500 per job. The agreement provides a match for a maximum of 200 jobs (s...

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