County EDA Sets Operational Parameters Including Officer Re-Appointments, Approves 2nd Recent Small Business Loan

The Warren County Economic Development Authority (EDA, WCEDA) held its monthly meeting for June 2026 on Friday, June 13, at the Front Royal Volunteer Fire Department headquarters across Commerce Avenue from the Warren County Government Center (WCGC). It was announced the previous Tuesday, June 16, that the meeting would be moved from its originally scheduled date and time of June 26th due to scheduling conflicts for some of the EDA Board’s five current members. The location change for June 19 was due to the WCGC being closed in observance of Juneteenth.

Due to some logistical issues, including establishing a remote hookup with Board attorney G. Rodney Young of the Timberlake-Smith legal team of Staunton, Virginia, the meeting scheduled for 9:15 a.m. was officially convened at 9:45 a.m.

The agenda included the Election of Officers, as well as Executive Committee, Asset Committee, and Board member updates, before adjourning to Closed Session for discussion of “the Award of Public Contracts Involving the Expenditure of Public Funds”. That latter item concerned a Small Business Loan Application by Vinicola.

Two perspectives of the now 4-member FR-WC EDA Board meeting at Fire & Rescue Company 1 headquarters on June 19th. They are from left to right in 1st photo: James Fox with head turned, Robert Cullers, Bruce Townshend, and Rob MacDougall. Royal Examiner Photos Roger Bianchini

The now County-overseen EDA also got an Executive Committee Update on the recent appointment of new Warren County Economic Development Director Patrick Barker. As pointed out during the introduction of Barker at a recent board of supervisors meeting, he brings an extensive background and knowledge of regional economic development trends. It should also be noted that former County Economic Development Director and current Front Royal Town Manager Joe Petty has been a frequent attendee at the County-overseen EDA meetings. Perhaps that is a positive sign of the eventual reuniting of the Town and County economic development efforts.

Following the Closed Session, convened at 10:14 a.m., the regular meeting was reconvened at 10:40 a.m.

The EDA Board faced three Action items out of Closed Session. They were:

8-A. Motion to Approve Board Officers for FY27. All sitting officers terms were extended by unanimous votes. Those included Chairman Rob MacDougall, and other officers Bruce Townshend, James Fox, and Robert Cullers. It was noted during discussion that both MacDougall and Townshend plan on leaving the board in February of 2027 when their terms expire. The FR-WC EDA Board of directors continues to operate three members short. As noted on the EDA website, “Three seats on the board have recently seen turnover due to resignations and the passing of a former member.”

8-B. Consideration and approval of Resolution regarding approval of FB&T Fourth Forbearance Agreement. See the agenda summary for updated details of the 4th Forebearance Resolution. — Approved by a unanimous vote below.

8-C. Consideration and approval of Resolution approving RBDG loan to Discerning Sommelier LLC (DBA: Vinicola Wine Bar and Bottle Shop, $25,000). — Approved by a unanimous vote.

We asked Chairman Rob MacDougall about the EDA’s Economic Development oversight moving forward, as the town and county governments continue discussion of a reuniting of their economic development oversight efforts. In response, he focused on the positive impacts of the re-establishment of the Small Business Loan program, as well as the necessity of appointing interested citizens to the EDA Loan Committee.

“The EDA is proud to announce it approved another small business loan at today’s regular meeting, and this is the second small business loan issued since the EDA recently restarted the loan program,” MacDougall began, adding, “These EDA-administered ‘USDA’ funds are helping our small businesses invest in business expansion and make key improvements. The EDA is actively seeking Warren County residents to serve on the small business loan committee, and the application for this committee can be found on the EDA website (frwceda.com).”

Citizen Sterling Whitedhead, who is interested in becoming involved in EDA business, is seated at table to far left of photo. Below, EDA Board members mingle with F&R Company 1 staffer following adjournment of the June 19 meeting at Company 1 headquarters in downtown Front Royal.

It might be noted that one citizen, Sterling Whitehead, attended the meeting as a citizen spectator. Discussion prior to the meeting’s convening appeared to indicate that Whitehead has expressed an official interest in appointment to both the EDA Small Business Loan Committee and to fill one of the three current vacancies on the EDA Board.

We wish the still legally named Front Royal/Warren County Economic Development Authority good luck moving forward, including toward a reuniting of Town and County economic development efforts. That is because the great majority of those initiatives have dual impacts on this community’s future developmental outlook, both inside and outside the Town of Front Royal limits.

Resolution of the Board of Directors of the Industrial Development Authority of the Town of Front Royal & the County of Warren, Virginia (the “EDA”) Approving Fourth Forbearance Agreement with First Bank and Trust Company (“FB&T”).

WHEREAS, the EDA is the borrower and FB&T is the lender regarding two Loan Agreements, one dated March 2, 2022 (the “Line of Credit Note”) and one dated December 16, 2015 (the “Industrial Development Note”); and

WHEREAS, the EDA is currently in default on the Line of Credit Note and the Industrial Development Note; and

WHEREAS, the EDA and FB&T previously negotiated in good faith and agreed that FB&T would forbear from exercising its rights and remedies under the Line of Credit Note and the Industrial Development Note upon the terms and conditions set forth in an agreement (the “Forbearance Agreement”); and

WHEREAS, the EDA and FB&T previously negotiated in good faith and agreed that FB&T would extend the Forbearance Agreement upon the terms and conditions set forth in an agreement (the “Second Forbearance Agreement”); and

WHEREAS, the EDA and FB&T previously negotiated in good faith and agreed that FB&T would extend the Second Forbearance Agreement upon the terms and conditions set forth in an agreement (the “Third Forbearance Agreement”); and

WHEREAS, the EDA and FB&T have negotiated in good faith and agreed that FB&T would extend the Third Forbearance Agreement upon the terms and conditions set forth in an agreement (the “Fourth Forbearance Agreement”); and

WHEREAS, the parties have agreed it is in the best interests of both to enter into a Fourth Forbearance Agreement to facilitate the EDA’s payment of debt to FB&T, as set forth in the Fourth Forbearance Agreement; and

NOW, THEREFORE, BE IT RESOLVED THAT:

The EDA Board of Directors does hereby agree to enter into and execute the Fourth Forbearance Agreement as negotiated by the parties and as attached hereto; and

The EDA Board of Directors authorizes its Chair and Secretary to execute on behalf of the EDA the Fourth Forbearance Agreement and any other related documents required by FB&T pursuant to the terms and conditions of the Fourth Forbearance Agreement, and the Secretary is authorized and directed to affix or to cause to be affixed the seal of the EDA to the Forbearance Agreement.

Adopted: June 19, 2026: June 19, 2026 Resolution Approving Fourth Forbearance Agreement with FB&T