EDA Asset Committee Discusses Property Strategies Moving Forward

Friday morning, February 16, the Front Royal-Warren County Economic Development Authority Asset Committee, down one of three members (Hayden Ashworth), met to discuss the status of and strategies moving forward on EDA-owned properties under contract in which the three properties are still on schedule for settlements later this year.

Present to form a two-out-of-three members present quorum to allow the meeting to proceed were Committee Chairman Jorie Martin and Rob McDougall. Also present were EDA Board member Jim Wolfe observing and County Director of Economic Development Joe Petty.

From left, EDA Asset Committee member Rob McDougall, WC Director of Economic Development Joe Petty, EDA board member Jim Wolfe, and Asset Committee Chairman Jorie Martin, get down to EDA asset business Friday morning, Feb. 16.

The 9 a.m. open meeting discussion included the 23-acre property in Stephens Industrial Park, which is under contract with Plein Smith Ventures, LLC. It is heading to the Board of Supervisors in March as the company is requesting a Conditional Use Permit (CUP) for a Contractor Storage Yard. Other discussions involved the 53-acre property in Stephens Industrial Park with Executive Land Holdings IV, LLC, and the 1321 Happy Creek Road property with Rappahannock HC, LLC. Both are still underway with due diligence, according to the meeting discussion.

The Committee also discussed finalizing a plan to address the current and future maintenance of the park signage at Happy Creek Technology Park, Kelley Industrial Park, and Stephens Industrial Park. The committee also got some good news on the old EDA Office and rental space in the old Avtex Admin building complex at 400 Kendrick Lane. Responding to Martin’s question on its status in the wake of some recent maintenance issues, Petty told the committee that the building had stayed dry during recent rains. Mold had become an issue due to some past leakages.

There seems to be a positive movement in solving some maintenance issues in the EDA office complex at 400 Kendrick Lane.

The committee convened to Closed/Executive Session around 9:30 a.m. to discuss potential disposition of real property to business prospects and receive legal advice as necessary. Subject properties listed in the motion into closed session included the Stephens Industrial Park, the Avtex Redevelopment Area, Happy Creek Technology Park, 1321 Happy Creek Road, 1325 Progress Drive, and 934 Happy Creek Road.

No new business followed the closed session.

(From information provided by the County Economic Development Director and Asset Committee)