Alleghany County Virginia and the City of Covington have signed a joint economic development, growth and revenue sharing agreement. The agreement between the two jurisdictions was signed on August 10th, 2017 at a ceremony at Dabney S. Lancaster Community College. The joint agreement provides for the sharing in the costs (development, incentives, property acquisition, required infrastructure, etc.) and revenues of a joint site/sites. The economic development, growth and revenue sharing agreement has received favorable review from the Virginia Commission on Local Government and can serve as a model for other localities in Virginia. The agreement calls for Covington and Alleghany County to share tax revenue generated by joint economic development projects on a 50-50 basis. The Alleghany County-Covington Industrial Development Authority is also part of the agreement.
Karnes Creek Land For Sale
For More Information Contact:
Karnes Creek Investment Company, LLC
P. O. Box 635, Clifton Forge, VA 24422
Email: karnescreekland4sale@gmail.com
Tel: 540-960-1135