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