City Council Regular Meeting


Print

Return to the Search Page Return to the Agenda
CL-2392 New Business   Item #: I.       
Meeting Date: 09/01/2020  
Subject:    Tobacco Commission Southside Allocation: SVMP Site Improvement Grant Support
From: Corrie Bobe

COUNCIL ACTION
Business Meeting:  09/01/2020
SUMMARY
The Danville Office of Economic Development is requesting the support of City Council for a potential grant through the Virginia Tobacco Region Revitalization Commission's Southside Economic Development program to prepare a 50-acre, shovel-ready pad on Lot 2, and install infrastructure that will meet the needs of modern day manufacturing clients. Site improvements included within the scope of this request include the demolition of an existing slab, clearing of debris, grading, erosion control, the installation of a storm drainage system, and other improvements. SR RIFA is already in advanced stages of discussions with several prospects interested in the potential future site.

The City of Danville is requesting $742,875 from its Allocation for this project with a 1:1 required match of $742,875.  This will be a joint project between Pittsylvania County and the Town of Hurt.  Pittsylvania County is also requesting funding through its Southside Allocation to go towards this $3.24 million project.
BACKGROUND
On May 8, 2020, the Staunton River Regional Industrial Facility Authority (SR RIFA) celebrated the announcement of its first tenant at the Southern Virginia Multimodal Park (SVMP) - Staunton River Plastics. To build on this momentum, the City of Danville and Pittsylvania County continue to aggressively market this industrial park to prospective businesses in order to attract new jobs and investment in the extremely distressed community of Hurt. The SVMP is considered a high priority site for both localities, and is located in State and Local Enterprise Zones, an Opportunity Zone, and a designated New Market Tax Credit area.
 
Member localities of the SR RIFA include Pittsylvania County (61%), the City of Danville (35%), and the Town of Hurt (4%). Each locality has signed a cost and revenue sharing agreement for this industrial park. This Authority also has the ability to provide discretionary incentives to companies locating within the SVMP.  The City of Danville is applying for grant funding from the Commission to support and partner on this project; each is providing their respective match. This is truly a regional project, which will create a marketable 50-acre graded site.
 

 
RECOMMENDATION
Economic Development staff recommends the approval of this resolution.
 

Attachments
Resolution
SVMP Lot 2 - 50 acre pad


    

Level double AA conformance,
                W3C WAI Web Content Accessibility Guidelines 2.0

AgendaQuick ©2005 - 2020 Destiny Software Inc. All Rights Reserved.