Council unanimously backs EDA application for Industrial Revitalization Fund loan for East Main property

Waynesboro City Council adopted a resolution supporting an application by the Waynesboro Economic Development Authority (EDA) for a Virginia Industrial Revitalization Fund (IRF) loan to support redevelopment of the former Virginia Metal Crafters building at 110 East Main Street. The council voted unanimously to adopt the resolution.

Mister Hitchen, City staff, told council the IRF is a competitive, annual state program that can provide up to $1 million per project with a required minimum 1:1 private match from the developer. Staff said the EDA would make the application on behalf of the developer but that the city or EDA would not have a financial commitment if the grant is awarded; the EDA would receive the funds and loan them to the developer.

City staff said the applicant is proposing a redevelopment for the former Virginia Metal Crafters building (listed in staff materials as 110 East Main Street) and that the developer is providing a 2.4:1 match, more than double the minimum. The EDA passed a companion resolution at its May 9 meeting. The council asked no substantive questions and adopted the resolution by voice vote; the motion passed with all present voting in favor.

Council members and staff said they would be available to answer follow‑up questions from the EDA or developer, and staff noted that the state IRF program is highly competitive and limited to one application per jurisdiction per program year.