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EDA approves extension for Jefferson Ridge due diligence to Jan. 23, 2026; staff updates on site work and grants
Summary
The Lynchburg Economic Development Authority approved a short extension of the due-diligence period for Jefferson Ridge to Jan. 23, 2026, and heard staff updates on the 109 Ramsey Place closing, RFPs for city-owned property, Virginia Business Ready Sites work, an Enterprise Zone redesignation and park covenant updates.
The Lynchburg Economic Development Authority voted to approve an extension of the due-diligence period for the Jefferson Ridge property to Jan. 23, 2026, after staff said some reports and committee briefings were not yet complete.
Chair explained the deadline for the due-diligence period was approaching and staff asked the Authority to memorialize an extension that had been granted informally. Staff member (Speaker 2) said the party granting the extension — referenced in the meeting as “L3 Harris” — agreed to the additional time. Members discussed a momentary confusion over the year and exact countdown; Speaker 3 clarified the extension runs to Jan. 23, 2026.
The Authority approved the extension by motion and voice vote.
During the staff report, Speaker 2 provided additional updates: 109 Ramsey Place closed on Nov. 3; staff issued two RFPs for 1800 Garnett Street and 805 Court Street; the office is coordinating with Public Works and the Virginia Economic Development Partnership on a performance agreement under the Virginia Business Ready Sites program for sites A and B; staff are drafting consolidated covenants for the industrial parks; and Public Works selected Heard and Profit to assist with Airport Commerce Park design. Speaker 2 also highlighted the museum’s Vietnam exhibit as notable local programming.
Votes at a glance: The motion to extend the Jefferson Ridge due-diligence period to Jan. 23, 2026 was approved by voice vote. The meeting also approved minutes and the covenant-waiver resolution earlier in the session.
What happens next: Staff will continue due-diligence work, brief the property committee and full Authority on findings, and report back as needed. The Authority adjourned the open meeting and entered a closed session to discuss prospective property acquisition and business expansion under the cited Virginia statute.
