Subject:
Title
Consider a supplemental appropriation for the Economic Development Department in the amount of $500,000 for funds received from the Virginia Commonwealth Opportunity Fund
Body
Presented By: City Staff
Recommendation and Review
The City was awarded Commonwealth Opportunity Funds in 2021 in the amount of $500,000 from the Commonwealth of Virginia to be passed through to Shenandoah Valley Organic (SVO)/Farmer Focus to incentivize construction of their production facility on Acorn Drive and for the creation of new production jobs. This funding must be appropriated into the City’s budget in order for the funds to be distributed to SVO/Farmer Focus.