[{"_1":2,"_87":-5,"_88":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,75],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},"mediaId",6484520,"mediaKeyId","5681140-d21e748aa146c5f928103ef4ce778523","parentId",5681140,"title","EDA staff report: strategic plan finalized; Rivanna Futures wins $9.7M in state funding; biotech initiatives advance","audioSeconds",476,"startMs",693000,"endMs",1169000,"viewUrl","/Search/View?dp=1&key=5681140-d21e748aa146c5f928103ef4ce778523&start=693&end=1169","thumbnailUrl","https://assets.pipeline.soar.com/5681140-d21e748aa146c5f928103ef4ce778523/thumbnail_693000.jpg","articleUrl","/articles/6484520/Albemarle-County/Virginia/EDA-staff-report-strategic-plan-finalized-Rivanna-Futures-wins-97M-in-state-funding-biotech-initiatives-advance","mediaUrl","https://secure.pipeline.soar.com/6484520-0153fa2b8a552e77efe37d8bd3568883/orig.mp4?Expires=1770506099&Signature=LPT0NlT4OistNn6~DQUa~-8w8KdIKIhLLoGHOCZ5YlWbyyCqyBsDSjnliL3MZNTiLDw0IMpVg9aHcIxNHcgaY2DDojAAGd4RrZlLwjbq0Ogl1oK40d1PLXy6TzGxY-E8OcaM413YVHaelGiL8s7P8l~T1xWcC0J6IzrZ3qbufI-qQcOWjA6yNU2w47x14YD4l8G1sKwpOPF6fky0Ya4cVwoDABqgeCtltgcO9f7ZqhsONLNmxqSvfR9Rm3JCkNQHtKjCX9ySzp4krsh9ePDC~ndzy1S4NPQ7jenxOmIbOovFdc7kQEFJ1XpmiHh7c7TrSPgicXkp7Cj2M-EkyBR02g__&Key-Pair-Id=KUT5TJCACFTXG","author","Albemarle County","date","2025-08-26T19:32:54.943Z","article","Albemarle County economic development staff told the authority that the county's economic development strategic plan has been finalized and that the office is shifting to implementation work, including metrics, website updates and partnership outreach.

Staff reported that the Rivanna Futures project received a $9,700,000 award from the Virginia Economic Development Partnership's Business Ready Sites program. The EDA had applied for $14,000,000; the program's total budget this year was $40,000,000 and staff said applicants requested about $250,000,000 in total. Staff said it is now working with VEDP to finalize the scope of work that $9.7 million will deliver.

County staff also said they are pursuing design funding through the Virginia Department of Transportation's Economic Development Access Program for a road extension of Boulders Road. The design application is for \"just under $700,000,\" staff said, and the Commonwealth Transportation Board will take a second reading of the application at its September meeting (staff indicated the board's September meeting occurs on the third Wednesday).

Staff highlighted several bioeconomy initiatives: participation in the BioBridge Talent Pathways steering committee, coordination on the Central Virginia Innovation Corridor planning grant (Go Virginia funding), and the Commonwealth Bio Accelerator expansion. Staff said the Siebel Biohub-led BioBridge effort is on track to finish data and stakeholder work by the end of the calendar year. The county also welcomed a $15,000,000 state commitment to expand the wet-lab accelerator at North Fork following a three-year pilot funded locally and regionally.

Chair Long and staff noted the EDA's recent presence at community events and regional partnership activities, including participation in a change-of-command event at the National Ground Intelligence Center and county fair engagements. Staff said business retention and expansion outreach and targeted company tours with the Commonwealth are planned for September.

Staff did not present formal motions on these items during the meeting; rather, updates were provided and staff outlined next steps for finalizing plan edits, publishing the strategic plan, and advancing grant and design applications.","mediaType","Video","parentTitle","Economic Development Authority - Regular Meeting, August 19, 2025","oneSentenceSummary","Albemarle County economic development staff reported adoption of the county's economic development strategic plan, a $9.7 million Virginia Business Ready Sites award for the Rivanna Futures project, a pending VDOT Economic Development Access Program design application, and $15 million in state support for a bio-accelerator expansion.","taxTitle","Albemarle County, Virginia","taxId",4417,"location","headline","","shortSummary",{"_33":76,"_35":36,"_37":38,"_39":77,"_41":78,"_43":79,"_45":80,"_47":81,"_49":82,"_51":83,"_53":84,"_55":56,"_57":58,"_59":85,"_61":62,"_63":64,"_65":86,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6484525,"Albemarle EDA adopts $1,000 refinancing application fee, approves amendment to Thomas Jefferson Foundation bond",526,156000,682000,"/Search/View?dp=1&key=5681140-d21e748aa146c5f928103ef4ce778523&start=156&end=682","https://assets.pipeline.soar.com/5681140-d21e748aa146c5f928103ef4ce778523/thumbnail_156000.jpg","/articles/6484525/Albemarle-County/Virginia/Albemarle-EDA-adopts-1000-refinancing-application-fee-approves-amendment-to-Thomas-Jefferson-Foundation-bond","https://secure.pipeline.soar.com/6484525-2cbf1e3250f613e6c5cabae816d5ced8/orig.mp4?Expires=1770506099&Signature=kJbVWVNOaf5gXv1b8GsvJJAcE92unqw8R0K7-tRUj7DNE4nYIHP7pkaeLWCG7ub2jt-vnOHoXSKJ3vGekzyHy1khv8932kc2Y7Jhg3c7HFNNvWanEf4IdozblRH45FQTLdOhohna2fsGaAZBLJDvpEgiDNwyke-qvFEgsxktz06j43FC~LgxxPNZ4CHXtBrsqzoM2kImZ8Duk69i6o9fjJLkGRAr2IaP27R-NOlNamN-0uHkzyZEUI1pk20YMRM2c6wYxd8m3YBs495J9B0dCeMOUdhuv7TmL1tP0mgSqcqHAik6qaZJp7b9Jpg5WMwEGRFCCZDVCClkdV9MHIM26w__&Key-Pair-Id=KUT5TJCACFTXG","The Albemarle County Economic Development Authority approved a $1,000 application fee for refinancing requests and authorized amendments to a revenue refunding bond issued for the Thomas Jefferson Foundation, the authority voted.

The fee — described by staff as intended to cover legal costs and staff time for handling refinancing applications — was adopted as a temporary application fee while staff researches fee schedules used by other development authorities. The board then approved a resolution authorizing an amended and restated bond for the Thomas Jefferson Foundation to change the bond's interest-rate mechanics and extend the underlying credit relationship with the lender.

Jim Bowling, bond counsel, described the bond as long-standing. \"The bond... goes back to 2011 and was issued to refinance some existing bonds,\" Bowling said, and said the amendment primarily changes how the interest rate is set rather than the foundation's substantive obligations. He added that the amended bond would be \"substantially similar\" to the existing bond aside from interest-rate mechanics and that the foundation remains solely obligated on the debt.

Board members moved and seconded the application-fee resolution and the bond amendment resolution; votes were taken by voice and recorded as \"Aye.\" The board also agreed to an amendment allowing the assistant secretary to sign closing documents for the Thomas Jefferson Foundation transaction. In response to that proposed administrative change, DW Bruno, counsel for the foundation, said, \"you can add that the assistant secretary can sign that. That's fine with me.\"

Under the action the authority will: (1) apply an immediate $1,000 application fee for consideration of the Thomas Jefferson Foundation refinancing while staff surveys other authorities' fee schedules, and (2) adopt the amended and restated revenue refunding bond and related amendment to the bond purchase and loan agreement that adjusts interest-rate mechanics and the put date with the existing lender. Board members said the change does not create liability for the authority or its directors.

The EDA did not specify a schedule for publishing the staff's comparative fee research. The assistant secretary was authorized to sign the transaction documents as amended at the meeting.

Votes at a glance: The authority approved (a) a motion to adopt a $1,000 application fee for refinancing consideration and to seek to amend Article 4 of the rules and procedures regarding the bond issuance fee schedule; and (b) a resolution approving certain modifications to terms of the revenue refunding bond issued for the Thomas Jefferson Foundation, Inc. Both motions were seconded and approved by voice vote (recorded as \"Aye\").","The Albemarle County Economic Development Authority voted to adopt a $1,000 application fee for refinancing requests and approved an amended and restated revenue refunding bond for the Thomas Jefferson Foundation to change interest-rate mechanics; the authority added authority for an assistant secretary to sign closing documents.","actionData","errors"]

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EDA staff report: strategic plan finalized; Rivanna Futures wins $9.7M in state funding; biotech initiatives advance

Albemarle EDA adopts $1,000 refinancing application fee, approves amendment to Thomas Jefferson Foundation bond