Authority meeting set for October
Published 8:26 am Friday, August 2, 2019
The Virginia Heartland Regional Industrial Facility Authority (VHRIFA) is set to have its next meeting on Tuesday, Oct. 22, at 2 p.m. at the Heartland Industrial Park.
The meeting initially scheduled for Tuesday, July 23, was canceled due to representatives of the authority being away for vacation, according to Charlotte County Financial Director Norma Tuck.
Recent activity that has taken place related to the VHRIFA includes a collaboration with VHRIFA and the Virginia Economic Development Partnership (VEDP) reported in May with a prospective business known only as project Peanut.
The Charlotte County Board of Supervisors, during its May 8 meeting, considered a generic incentive letter submitted by the VHRIFA that Charlotte County can send to prospective businesses.
The incentives included in the letter, according to the Charlotte County Board of Supervisors board packet, include a three-year Machinery and Tool Tax Reinvestment Grant in an amount of 100 percent of the tools tax paid to the county, a three-year Real Estate Tax Reinvestment Grant, based on the appraisal of the property once all of the work is completed and Fast Tract Permitting, based on accrual of actual billed cost and required permits. The incentives are based on whether the Enterprise Zone for the area will be renewed at the end of 2019.
Supervisor and VHRIFA President Gary Walker said, according to the audio recording of the May meeting, that the most recent prospective businesses at the park have sought out incentives.
Aspen/Phenix Supervisor Donna Fore said the incentives would be unfair to older businesses that did not receive the incentives that newer businesses would under this letter.
Wylliesburg/Red Oak Supervisor Kay Pierantoni said after speaking with constituents that the incentives would need to depend on the businesses being considered, and whether they would have a long-term impact on the county’s economy.
Vice Chair and Keysville Supervisor Robert L. “Butch” Shook recommended that the Charlotte County Industrial Development Authority (IDA) investigate incentives in other counties and report their findings back to the county.
Former Cullen/Red House Supervisor Dr. Nancy Carwile asked if the other counties involved with the VHRIFA receive tax benefits. If that’s the case, she said the other counties may need to be consulted.
Members of the board of supervisors decided to allow the IDA to provide a report, according to the audio recording of the May meeting.