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Economic Development Authority
Meetings
- 5:30 pm
- Third Thursday of every month
- Town Hall
121 Thompson St.
P.O. Box 1600
Ashland, VA 23005
Members
The seven directors of the EDA are appointed by Town Council to four-year staggered terms.
Serving Since: June 2015
Term Expires: December 2022
Serving Since: April 2015
Term Expires: December 2022
Service Since: January 2012
Term Expires: December 2024
Serving Since: April 2015
Term Expires: December 2022
Serving Since: March 2019
Term Expires: December 2022
Serving Since: November 2020
Term Expires: December 2024
Serving Since: January 2021
Term Expires: December 2024
Purpose
The EDA meets to consider requests for approval of tax exempt borrowing for economic development purposes. The EDA administers loan, grant and bond programs which support economic growth and vitality.
Economic Development Authority (EDA) Loans & Grants
The Infrastructure program is designed to assist business and property owners with costs associated with site-readiness infrastructure such as water and sewer. The loan can be forgiven if the awarded applicant satisfies all goals and objectives set forth in the approved plan.
In appropriate circumstances, funds for demolition can be granted from the EDA. As with the Infrastructure program, the loan can be forgiven if the awarded applicant satisfies all goals and objectives set forth in the approved plan.
This program is designed to support reinvestment in distressed or historic properties. Scoring priority is given to those projects considering a scope of significant restoration or for properties in a high-visibility corridor. This is a rolling grant program with no deadline for submission.
This program is designed to help offset the cost to redevelop restaurant sites in the appears to be an empty link with target https://www.ashlandva.gov/DocumentCenter/View/1592 An incentive of up to $550,000 in total over up to 6 years is available to restaurant projects which meet the program requirements.
This program is designed to help defray the cost to redevelop hotel sites in the Interstate 95 Hospitality Incentive Area. An incentive of up to $550,000 in total over up to 6 years is available to qualifying hotel projects.
The Ashland Economic Development Authority is offering a grant program to assist businesses along the US 1 corridor (Washington Highway) within the Ashland Town boundaries. This Grant is for improvements for enhancing and revitalizing the visual appearance and appeal of their commercially zoned property, buildings, and entrances.
This grant program is for businesses supporting outdoor recreation and the use of the Fall Line Trail within the Ashland Town boundaries to stimulate the growth of Outdoor Recreation and Tourism, The Economic Development Authority (EDA) will award projects that meet these criteria along the Fall Line Trail Corridor. Suggested businesses are outdoor outfitters, outdoor guides, sporting goods stores including athletic shoe stores, snack shops, restaurants, provision providers, bicycle sales and rentals, bed and breakfasts, and other businesses catering to outdoor recreation or users of the Fall Line Trail.
For more information, contact Kelly Franke, Business Development Coordinator at (804) 798-1073 or kfranke@ashlandva.gov.