Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Development topic
No spam. Unsubscribe anytime.
EDA approves incentive releases and directs property studies, including cell‑tower valuation
Summary
The authority approved release of a $280,000 incentive to Bosch/Lam (company exceeded capital investment but did not meet original job targets) and a $250,000 partial release to Delta Star for completed infrastructure milestones; members also authorized staff to investigate an independent valuation/site‑impact analysis for an SBA communications tower at 929 Wigington Road.
At its April 16 meeting the Economic Development Authority approved multiple committee recommendations on business incentives and property matters.
Incentive committee members recommended full release of a previously authorized $280,000 local incentive to Bosch and Lam. Committee materials said the company did not meet the original job‑creation target but exceeded capital investment projections and generated a positive fiscal return; the authority approved the release by voice vote.
The authority also approved a partial release of $250,000 to Delta Star tied to completed infrastructure milestones that staff verified. Staff noted those dollars come from the city's road/water/sewer infrastructure funds rather than the EDA's strategic initiative budget; committee members explained the partial release reflects work such as a driveway and cul‑de‑sac improvements at Cohen Place.
On property matters, the property committee updated the authority on multiple sites — including continued due diligence for Wigington Road, pending specs on Albert Langford Drive (the former Genworth building), and work at Ivy Creek Innovation Park, where the authority has a pending $4 million Virginia Business Ready Sites Program (VBRSP) grant and anticipated bids in late May or June. The board voted to authorize staff to explore procuring an independent valuation and site‑impact analysis for the SBA communications tower at 929 Wigington Road and return with recommendations; the motion was carried to allow staff to determine scope and costs (staff discussed an estimated range of $6,000–$12,000).
The meeting record shows the authority handling these items by motion and voice votes; staff will follow up with documentation and bring detailed contract or procurement requests back to the board as needed.
