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Board asks staff to draft regional facilities authority agreement
Summary
Supervisors authorized county staff to work with three towns and legal counsel to draft a Regional Industrial Facilities Authority (RIFA) participation agreement and governance documents to pursue regional site-development grants and projects; the motion carried by voice vote.
A presenter described a proposed Regional Industrial Facilities Authority (RIFA) intended to create a partnership between Smyth County and three towns to pursue site-development and infrastructure grants. The presenter explained the RIFA would create a mechanism to apply for grant funding and later designate specific properties or projects via participation agreements.
Following questions, the board authorized the county administrator and economic development staff to collaborate with participating localities and legal counsel to draft RIFA governance and participation documents for future review. The motion was made and carried by raised hands; no immediate financial commitments were made.
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