County awarded thousands for revitalization
Published 8:00 am Thursday, December 29, 2022
Charlotte County has been awarded thousands to renovate an abandoned former manufacturing building.
The County will use a $76,000 grant to renovate the former Shaw building in Keysville, which has sat empty for many years, into a ready-to-use, mixed-use building applicable to many different businesses uses.
The funds come as part of the Industrial Revitalization Fund (IRF) grants. IRF grants provide gap financing for construction projects aligned with local and regional economic development strategies, primarily in distressed communities.
The announcement came Tuesday morning, Dec. 27, as Governor Glenn Youngkin announced Charlotte County was one of 22 localities to receive more than $ 24.7 million in IRF grants.
According to a release from the Governor’s office, the funds awarded to Charlotte will help stimulate economic growth and development in the area. The county plans to market the property as various potential uses, including manufacturing, shared support services and workforce development.
“The transformation of older, vacant or blighted structures into productive, usable spaces is crucial to catalyzing economic growth to create thriving communities,” said Governor Glenn Youngkin. “The Industrial Revitalization Fund continues to be an important resource for those redevelopment efforts, spurring regional partnerships, economic development and job growth across the Commonwealth.”
The Industrial Revitalization Fund (IRF) leverages local and private resources to achieve market-driven redevelopment of vacant and deteriorated industrial and commercial properties. The program is targeted toward vacant non-residential structures whose poor condition creates physical and economic blight to the surrounding area in which the structure is located.
Projects were reviewed and evaluated competitively, with an emphasis on those with a high level of blight, identification of impediments to economic development efforts, alignment with regional or local strategies, availability of matching resources, the level of community distress where the property is located and an identified and feasible end-use.
“These funded projects are transforming deteriorated structures that impede future economic development efforts into small businesses, tourism destinations, and sources of community pride,” said Secretary of Commerce and Trade Caren Merrick. “Through IRF grants, we are able to make investments in both Virginia’s infrastructure and vibrancy by supporting impactful projects, encouraging strategic collaborations, and fostering economic development efforts.