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Board approves first performance incentive grant payment for Codes at Monticello housing project
Summary
The board approved a $63,208.33 semiannual performance incentive grant to the EDA for remittance to the Codes at Monticello developer after staff confirmed the project met contract milestones and calculated the payment from the assessed value increase.
The Fluvanna County Board of Supervisors approved a performance incentive grant payment July 2 of $63,208.33 for the Codes at Monticello affordable workforce housing complex, to be paid to the Economic Development Authority (EDA) for remittance to the developer, Monticello Coast Realty Partners, L.P.
The payment follows a development and performance agreement the board approved in March 2022. Under that agreement the county agreed to semiannual grants based on the incremental…
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