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EDA tables West Creek reimbursement agreement; staff reports $1.7 billion in active projects and county receives old elementary school
Summary
The Goochland County EDA tabled a proposed reimbursement agreement that would have paid up to $75,000 per West Creek property owner for due-diligence work, citing questions about repayment and scope. Staff reported $1.7 billion in active leads, $441 million under construction, and that the county accepted conveyance of the former Goochland Elementary School for future reuse studies.
The Goochland County Economic Development Authority tabled consideration of a proposed agreement to reimburse West Creek landowners for due-diligence work, and heard staff updates on active projects including a recent Honda-related groundbreaking and the county's acceptance of the former Goochland Elementary School.
Director described the West Creek request and the mechanics the EDA would use: property owners proposed a performance agreement and asked the EDA to reimburse up to $75,000 of due-diligence work; staff noted the board previously directed $500,000 to help property owners improve site readiness. Director said the reimbursement could be structured to require repayment to the EDA if the land later sells, or as a one-time non-repayable reimbursement; members asked which approach would preserve fairness relative to other landowners who perform due diligence on their own.
Board members questioned how many properties could qualify and whether the EDA should require repayment on sale. One member observed that due diligence is common practice and asked whether the arrangement might be perceived as preferential; Director said the offer would be open to industrial landowners countywide but that only a few sites in West Creek are under active consideration. On whether the potential projects could bring significant investment, Director said the target was large—discussing the possibility of projects worth hundreds of millions or larger—but cautioned it was speculative until a developer committed.
Following questions about legal review and program details, a committee member moved to table the item for further discussion and development; the motion was seconded and carried by voice vote. The Chair said the board would revisit the item at a later meeting after additional work.
During the meeting staff also reported $1.7 billion in active projects and leads (a slight decrease after a state project withdrew), $441 million currently under construction, and noted a recent groundbreaking involving Great Lakes Honda; staff said the county recently received the former Goochland Elementary School from the school board and will pursue community input on potential future uses.
Next steps: staff will continue negotiations on West Creek, pursue additional legal and policy review before returning the item to the board, and move forward on community outreach and site analysis for the former Goochland Elementary School.
