EDA reviews 2024 incentives report; Hardywood repayment lowers its award

The Houston County Economic Development Authority heard its annual incentives report for taxes paid in 2024 and was briefed on the status of several performance agreements and grants.

The economic director told the board the county expects the final year of reimbursements on a 2003 water-and-sewer line extension to Capital One next year and noted an outstanding broadband performance agreement with Central Virginia Electric that staff is still verifying; the county is obligated under that agreement up to $125,000, the director said.

On individual projects, staff reported Greenswell Growers requested deactivation of a previously awarded APID grant and had not received state or county funds under that agreement. Hardywood Brewery met 83% of its capital-investment performance goal and 91% of its job-creation target; because the capital-investment threshold was short of the required 90%, Hardywood repaid a proportional share of its prior grants. "We have reduced the incentive amount by the same, which is $55,250 so now their total incentive that go to them is 944,750," the economic director said on the record.

The report also noted the Notch Hotel (Residence Inn) has met its obligations and is paid in full; Oak Hill East met its performance agreement for road work and its incentive is complete. Staff said checks from county funds will be deposited into the appropriate EDA account and the EDA will cut and distribute checks to the listed entities.

Board members asked timing questions and staff provided an estimate that remaining payments on specific agreements would continue through the awards' scheduled terms (one agreement noted through 2030). The board did not take a separate vote on the report; it was presented as an informational item and staff will proceed with the routine processing of checks.