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Board authorizes school-debt refinancing, accepts CESF grant, OKs enterprise zone payouts and local appointment
Summary
Supervisors authorized a refinancing plan for the county's Series 2016 school debt, accepted a $49,192 CESF grant for the sheriff’s office, approved $20,369.71 in enterprise zone incentive payouts, and appointed Elyssa Long to the Social Service Advisory Board.
Davenport & Company representative R.T. Taylor presented refinancing options for Lunenburg County’s General Obligation School Project Refunding Note, Series 2016, at the Sept. 10 meeting. Taylor offered analyses of a level-savings structure and a lump-sum, up-front savings option (an estimated $76,433 up front). The board chose the lump-sum option and a 2% net-present-value savings threshold and authorized the chairman to sign the resolution allowing Davenport & Company to move forward.
The board also accepted a $49,192 Coronavirus Emergency Supplemental Funding (CESF) award from the Virginia Department of Criminal Justice Services for the Sheriff’s Office; Major D.J. Penland will use the funds to buy Toughbooks for patrol vehicles and pay CAD user-license fees.
County Planner Glenn Millican shared that preliminary testing in the Old Middle School building found higher-than-expected asbestos, increasing demolition costs. Millican also proposed pursuing an online business-registration module tied to the county’s GIS system with a $1,500 one-time setup fee and $1,500 annual maintenance; the board authorized him to pursue the digital option.
The board approved payout of 2019 Tax Year Enterprise Zone incentives totaling $20,369.71 to four businesses and ordered transfer of funds to the IDA for disbursement. The board appointed Elyssa Long of Victoria to the Social Service Advisory Board to fill an unexpired term ending Dec. 31, 2022.
All motions passed by roll call vote as recorded in the minutes.
