Mission, Methods, Objectives, and Vision:       

The driving force or intent of the IDA is to provide Clarke County with an expanded tax base as an added or growing revenue stream. An expanding tax base should benefit the citizens of Clarke County in reducing per capita cost of services, aid in offset of increasing cost of services, and provide a means to enhance services.

In the absence of, or in addition to growth, the objective of the IDA is to preserve assets within the charge and authority of the body to the best benefit of the County. 

The IDA may issue bonds, buy and sell property, and conduct the business of Industrial Development Authority of Clarke County Virginia as set forth in the code of Virginia, Section 15.2-4901 (1950, as amended and the Industrial Development and Revenue Bond Act Chapter 49, Title 15.2 of the code of Virginia 1950 as amended.)

Membership:   

The Board of Supervisors appoints the seven-member Board of Directors from the County at large to four-year terms.   In addition, a member of the Board of Supervisors serves as a liason to the Authority.

Meeting Information:             Meetings are conducted quarterly in Meeting Room AB, Berryville Clarke County Government Center, 2nd Floor, 101 Chalmers Court, Berryville, Virginia 22611

Meeting Material:

Agendas, Packets, Minutes

Staff Representatives: 

Lora B. Walburn - Clerk to the IDA, 540-955-5175; This email address is being protected from spambots. You need JavaScript enabled to view it.

Len Capelli - Economic Development Director, 540-955-5107; This email address is being protected from spambots. You need JavaScript enabled to view it.

 Programs:

 
Bonds

The Bylaws and Rules of Procedure and the Act shall govern submission of applications to the Authority.

Waterloo Area Water and Sewer Availability Fee Subsidy

The Industrial Development Authority of Clarke County, Virginia [IDA], in conjunction with the Clarke County Sanitary Authority [CCSA] and at the direction of the Clarke County Board of Supervisors, have developed this program to assist businesses in locating to the Waterloo Area. Interested owners shall make application to the IDA following the process below.

Application: shall include:

  • Projected timetable for construction and for commencement of business operations.
  • Itemized listing of the local tax revenues that the Owner expects to generate during the contractual period to offset the subsidy amount. The business Owner shall provide detailed documentation to support the tax revenue projections.
  • The amount of the subsidy requested.
  • A financial statement of the Owner. In the case of a closely held corporation, partnership, or limited liability company, financial statements shall be filed for each owner of the entity holding an ownership interest of 10% or more.
  • A description/business plan of the business to be operated.
  • An Application Fee equal to one percent (1%) of the total subsidy requested, plus an Administrative Fee, in an amount established by the IDA, to cover the administrative costs of the IDA, including, without limitation, legal fees and recording costs.

Prior to Application Review: An Owner shall participate in a pre-application meeting with County staff and/or representatives from the IDA and CCSA to receive initial feedback on the application and to develop a draft payment schedule.

Application Review: The IDA shall review and act upon the application.

  • The IDA may deny the application if it finds, in its sole discretion, that the Owner does not have sufficient financial strength to meet its financial commitments under the program or that the local tax revenue projections of the Owner are not reasonably realistic.
  • The IDA may approve a subsidy for an amount less than requested by the Owner.
  • Upon approval of an application, the IDA shall enter into an Agreement with the Owner. The IDA and CCSA may require a letter of credit or other form of surety for the Owner’s obligations under the Agreement, if deemed warranted by the IDA based upon its review of the financial information submitted by Owner.