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EDA reviews performance matrix for Rooftop project; pricing, senior housing and infrastructure remain unresolved
Summary
Board members received an update on a proposed sale to Rooftop subject to performance metrics, including senior‑housing requirements, an acreage estimate, and a price‑per‑acre to be negotiated; water and sewer upgrades and city involvement were discussed but no action taken.
Authority staff updated board members on a proposed agreement that would sell a parcel to a developer identified in the meeting as Rooftop, subject to meeting a performance matrix and other metrics.
Staff said the arrangement under discussion would have the City of Galax and Grayson County sell property to Rooftop with conditions: the developer must achieve specified metrics within a fixed time frame (including senior‑housing components). If Rooftop fails to meet those benchmarks, the property would revert to control of the authority and any public funds would be returned, staff said.
Board members discussed the parcel size and likely development footprint; staff referenced roughly 19 acres in total and estimated the developed footprint could be about 4 acres, with detailed acreage and engineering work to be completed. Pricing per acre is being determined and will be part of an agreement between Galax, Grayson County and Rooftop.
Members raised infrastructure questions: whether Grayson County would participate in extending water or sewer and whether the property sits in city limits; staff said the answer depends on grant processes and interlocal negotiations and that the City of Galax currently supplies water purchases to the locality. No decisions were made; staff said pricing, engineering and contract drafts will be returned for future consideration.
Ending: Staff will continue to work with Galax and Rooftop to define price, detailed engineering and contract terms and will report back to the board.
