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EDA approves fiscal services memorandum establishing 1% administrative fee for external funds
Summary
The Economic Development Authority approved a fiscal services memorandum of agreement with Albemarle County that establishes a 1% administrative fee on external funds routed through the EDA and outlines core county fiscal and legal services.
The Albemarle County Economic Development Authority approved a fiscal services memorandum of agreement (MOA) that sets a 1% administrative fee on incoming funds received by the EDA when those funds are external to Albemarle County, and defines the core services the county will provide.
County finance staff presented the agreement as a separate fiscal services contract outside the…
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