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EDA approves amendment to AgriSpears performance agreement, authorizes year‑2 match payment
Summary
The Albemarle County Economic Development Authority voted to adopt a resolution amending its performance agreement with AgriSpears, allowing capital investments to be counted cumulatively and extending the performance window; the board authorized execution of documents to enable the year‑2 match payment (tally recorded as 5 Aye, 0 No).
The Albemarle County Economic Development Authority voted to adopt a first amendment to its performance agreement with AgriSpears and authorized county executives and authority officers to execute documents necessary to complete the amendment and to process the year‑two match payment.
Staff told the board AgriSpears received a Commonwealth Development Opportunity Fund award of $200,000 in fiscal 2023 and that the county agreed to a 1:1 match divided across three years. Because the company’s capital investments were unevenly timed—an overage in…
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