Lancaster County EDA weighs loan programs, bonds and a new website to boost local business and housing

The Lancaster County Economic Development Authority on April 17 reviewed its accounts and spent most of the meeting discussing how to expand its role in county financing, small-business support and housing initiatives.

The EDA received a financial update showing its Community Partnership checking balance and related holdings. A staff member reported the checking account beginning balance as of Jan. 16, 2025, of $40,610.07, noted interest credits of $9.60 and a January grant payment of $2,500 to Rishi Yoga and Wellness, and identified a separate 10-month certificate of deposit carrying interest credited to an April 16, 2025, balance of $42,209.64.

Why it matters: Board members framed the discussion around how the EDA can move beyond small grants toward more sustainable financing tools — including sponsoring lease revenue bonds, creating a revolving loan or microenterprise loan fund, and improving public information through a website — so limited EDA funds can have greater measurable impact.

Most immediate financing question discussed was the county’s planned borrowing. County staff told the EDA that Lancaster County expects a $15 million bond this fall through the Virginia Public School Authority for a school project, and separately is…