AGENDA DATE: 10/19/2021
TITLE:
Title
Project ENABLE Review and Economic Development Authority Work Session
BODY
SUBJECT/PROPOSAL/REQUEST: Review progress on Project ENABLE goals and consider two new economic development tools: Economic Development Authority control of land and a Building Reuse Grant
ITEM TYPE: Regular Action Item
STAFF CONTACT(S): Richardson, Walker, Kamptner, DeLoria, Johnson, Newberry
PRESENTER (S): Walker, Johnson, Newberry
LEGAL REVIEW: Yes
REVIEWED BY: Jeffrey B. Richardson
BACKGROUND: In December 2018, the Board of Supervisors approved the County's first economic development strategic plan, Project ENABLE (Attachment A). Prior to the adoption of Project ENABLE, the Board and the Economic Development Authority (EDA) agreed to a memorandum of understanding (MOU) to guide the EDA's activities and ensure alignment with the County's other policies, goals, and objectives. The MOU continues to serve as a guide to the Board and EDA in their intent to work closely and cooperatively to achieve the County's goals for economic development.
The BOS and EDA last met jointly in June 2019. At that meeting, each body approved matching policies for several state grants, including the Commonwealth Development Opportunity Fund (COF), Virginia Jobs Investment Program (VJIP), and the Agriculture and Forestry Industries Development Fund (AFID). Each body also approved the County's first local incentive, a synthetic tax increment financing tool called the ENABLE grant.
STRATEGIC PLAN: Economic Prosperity - Foster an environment that stimulates diversified job creation, capital investments, and tax revenues that support community goals.
DISCUSSION: The Economic Development Office (EDO) continues to work diligently under the guidance of Project ENABLE. Despite ongoing impacts from the pandemic, the EDO has made significant progress toward each of the plan's seven strategic goals. A summary of activities since late 2019 is found in Attachme...
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