Albemarle Supervisors talk $2.5 million in funding for Crozet project, $4.4M in affordable housing projects
The Albemarle County Board of Supervisors meets at 1 p.m. in Lane Auditorium but there is also a hybrid option. (agenda)
The first item deals with a key component for the future of Crozet. Albemarle County entered into a public-private partnership with an entity known as Crozet New Town Associates to inject new life into a plan to redevelop the former Barnes Lumber site. Part of the plan is to create a road network and public space on which to build new town space. The cost of doing so has increased and now $2.5 million more in public money is suggested.
“The proposed addendum enables the County to complete the road network, whereas the developer will provide additional contributions to include paying for water and sewer utility installation, building a public restroom in a development adjacent to the public plaza, providing seed money to fund an Executive Director for the Downtown Crozet Initiative (a community development organization supporting the project), donating Right of Way (land) in the amount of approximately $300,000, and covering expenses exceeding the new project budget,” reads the staff report.
One million of the funding would come from the American Rescue Plan Act and $1.5 million would come from the county’s Economic Development Investment Pool.