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New Business   Item #: B.
Amendments to Enterprise Zone #1 and #57B
Business Meeting: 11/04/2021
The Office of Economic Development is requesting a resolution authorizing the City Manager to sign and submit an application to the Virginia Department of Housing and Community Development (DHCD) to amend the geographic boundaries and incentives for the City's Enterprise Zone Program known as City Enterprise Zone #1. The amendment will allow the City to encourage and incentivize new capital investment and job creation in this developing area of the City. By amending the zone, any business, property owner or developer will qualify for state and local Enterprise Zone incentives.
Enterprise Zone #1 consists of approximately 1,800 acres throughout the City of Danville and includes the Central Business District, Tobacco Warehouse District, Cyber Park, Goodyear Boulevard, Dan River Schoolfield Complex, Riverview Industrial Park, and the former Corning Plant. This proposed amendment will delete approximately 50.93 acres and will add 69.95 acres of commercial property with identified commercial development projects in process or in the near future. Once approved, the amended zone will total approximately (TBD) acres.
Enterprise Zone 57B is shared with Pittsylvania County, that provides a combination of state and local incentives to promote and incentivize new capital investment and job creation in the area. The City’s portion of the zone consists of 1,679 acres including the Kentuck corridor, Airside Industrial Park, Gypsum Road Industrial corridor and portions of Cane Creek Centre. There are no proposed changes to the boundaries of the City’s portion of Zone #57B.
This amendment will only amend the boundaries of Enterprise Zone #1 but will also amend the current incentives for Zone 1 and 57B to encourage capital investment and job creation in each respective zone.
City Staff recommends City Council approve a resolution authorizing the City Manager to submit to the Department of Housing and Community Development all the necessary documentation to amend the boundaries in the City's Enterprise Zone # 1, and to amend the incentives offered in Enterprise Zone #1 and #57B.
Enterprise Zone Map
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