Albemarle County commits $3.2M to support redevelopment in Crozet
The Albemarle County Board of Supervisors voted Wednesday to enter into a performance agreement with Crozet New Town Associates in support of the redevelopment of the former Barnes Lumber property in downtown Crozet.
The agreement outlines $3.2 million in commitments to the project, through $1.6 million in direct contributions for the construction of a public plaza and $1.6 million in tax rebates through synthetic tax increment financing (Syn-TIF). The Performance Agreement supports the development of public infrastructure to serve Crozet and the broader community, through additions to the road network and the construction of a public plaza. The road connections include extending The Square and Library Avenue, connecting those roads, and creating a connection to Parkside Village.
The total value of the public infrastructure projects outlined in the Performance Agreement is $8 million.
“The public plaza will be a wonderful amenity for Crozet and the wider community as a place to gather and to enjoy programming. Hundreds of people participated in the community engagement for the design of this project over the past few years, and support for the plaza and road network were overwhelming. We are so glad to participate in this effort”, Supervisor Ann Mallek shared.
The County will also provide in-kind support by providing construction management for the public road, conduct a parking study as part of the Crozet Master Plan process, provide data from a countywide market study for Crozet, and provide long-term maintenance for the public plaza, once constructed.
Doug Walker, Deputy County Executive, explained, “The Crozet Library and the Crozet Avenue Streetscape are examples of public investments that Albemarle County has made in Crozet that were intended to spur other investment in downtown – which we’ve since seen in the development of the Piedmont Place project on Library Avenue, as well as the Crozet Running Shop and Staengl Engineering along Crozet Avenue. This agreement continues our commitment to the vitality of downtown Crozet through a combination of public and private investment.”