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New Business   Item #: B.
Amendment to Enterprise Zone 1
Business Meeting: 11/15/2022
The Office of Economic Development and Tourism 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 1,822 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 32 acres currently in the EZ and add 19.71 acres of commercial property with identified commercial development projects in process or in the near future. Once approved, the amended zone will total approximately 1,809.34 acres.
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.
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