CHARLOTTESVILLE, VA (CVILLE RIGHT NOW) – The Albemarle County Economic Development Authority voted unanimously to allow the Board of Supervisors to move forward with a $156.55-million bond issuance to fund capital improvement, a refund of the bonds for the Rivanna Station Futures Property, and a refinancing of a 2015 bond issuance, on Tuesday.
The Board of Supervisors is expected to vote on the plan at its Wednesday meeting. Rivanna District Supervisor Bea LaPisto-Kirtley attended Tuesday’s EDA session.
Using a financing framework that has been in place in the county since 2003, the new bonds would cover $118.14 million in capital improvement projects, $26.36 million for the refund portion of the 2023 bonds for the Rivanna Stations Futures property, and $12.05 to refinance the 2015 bond issuance, according to a presentation to the EDA by the county’s chief financial officer, Jacob Sumner…