A four year roadmap for Fredericksburg's economy will be the subject of a joint session of the Economic Development Authority and the EDA Citizen's Advisory Committee. On the same morning, the EDA will also hear presentations on the Virginia Main Street program and Tax Increment Financing, or TIF.
The doubleheader set of meetings will start at 8 a.m. on Mon., Feb. 14. in the conference room.
From 8 to 9:15 a.m., the EDA and the EDA Citizen's Advisory Committee review the EDA strategic plan for 2011 through 2015. Immediately following that meeting, the EDA will hear presentations from two guest speakers: Jeff Sadler and Ken Powell.
Sadler is the program manager for the Virginia Main Street program. The EDA , which provides assistance to historic downtown areas looking to revitalize.
Powell is the managing director of public finance from the firm Stone & Youngberg. He'll be speaking about Tax Increment Financing, which allows a portion of new taxes from a development project to be plowed back into the financing of the project.
"It's really an incentive program that the EDA supports and wants to see implemented," said Economic Development Manager Richard Tremblay in a December interview with Patch. "That would be one piece of the puzzle...to spur mixed use developments."
Included with this article are two PDFs of a draft versions of the 2011-2015 economic strategic plan. One version contains goals and an action plan, the other eschews the action plan. No word yet on which one will be presented at the meeting.
Editors Note: This article has been edited since it was published. The time of the meeting was incorrectly listed and has been updated. -MT