City of Alexandria, Virginia
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MEMORANDUM
DATE: JUNE 5, 2019
TO: THE HONORABLE MAYOR AND MEMBERS OF CITY COUNCIL
FROM: MARK B. JINKS, CITY MANAGER /s/
DOCKET TITLE:
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Consideration of Acceptance and Allocation of $30,000 from the Governor's Agriculture and Forestry Development Fund.
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ISSUE: Consideration of acceptance and allocation of $30,000 from the Governor's Agriculture and Forestry Industries Development (AFID) Fund to support an economic development incentive grant to Lost Boy Cider.
RECOMMENDATION: That City Council authorize the City Manager to:
1. Sign a Performance Agreement between the City of Alexandria, the Alexandria Economic Development Partnership (AEDP), and Virginia Ciderworks Company, LLC dba Lost Boy Cider (LBC) that outlines the disbursement and management terms and conditions of the AFID grant and the Alexandria Investment Fund (AIF) grant, on behalf of the Alexandria City Council;
2. Accept a $30,000 grant from the AFID Fund that will be transferred to AEDP and then to Lost Boy Cider, subject to the terms and conditions of the Performance Agreement among the City of Alexandria, the AEDP, and LBC;
3. Approve a $30,000 Alexandria Investment Fund Match to the State AFID $30,000 grant; and
4. Allocate the $30,000 received from the AFID Fund for inducing the company to locate and initiate operations in Alexandria, invest $668,800, and create 5 new jobs and 2 full-time equivalents (FTEs), subject to the terms and conditions of the Performance Agreement among the City of Alexandria, the AEDP, and Lost Boy Cider[SL1].
BACKGROUND: Over the last two years, Alexandria Economic Development Partnership staff has been working with start-up operator Lost Boy Cider to identify real estate, financing and potential grant funding for a new cidery to be located in the City. The operation will produce artisanal hard cider, which is all natural, gluten ...
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