stafford county venture business park presentation

Stafford County, Virginia

and

R Income Properties, LLC

are pleased to present

Venture Business Park

A high quality, developing office park 56.0 acres of flat land B-2 zoning Infrastructure accommodates the needs of corporate

offices, data centers, and other high technology uses College campuses nearby Easy access to U.S. Route 1, Interstate 95, and

airports with national and international connections

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Contents Site Location ......................................................................................................................................3

General Site Information ....................................................................................................................4

Site Name and Address ............................................................................................................................. 4

Site Owner Information ............................................................................................................................ 4

Asking Sale Price ....................................................................................................................................... 4

Site Attributes ........................................................................................................................................... 4

Utilities ...................................................................................................................................................... 5

Taxes ......................................................................................................................................................... 5

Transportation .......................................................................................................................................... 6

Educational Sources .................................................................................................................................. 6

Incentives .................................................................................................................................................. 7

General Site Information Contact ............................................................................................................. 7

Infrastructure ....................................................................................................................................8

Electrical .................................................................................................................................................... 8

Fiber .......................................................................................................................................................... 9

Water and Sewer .................................................................................................................................... 10

Water Quality Report .......................................................................................................................... 13

Stafford County Regional Airport ...................................................................................................... 16

Takeoff and Landing Patterns ................................................................................................................. 20

Meteorological ................................................................................................................................ 22

Earthquake .............................................................................................................................................. 22

Earthquake History, Eastern United States ......................................................................................... 22

Earthquake History, Virginia (1973-Present) ...................................................................................... 23

Top Earthquake States ........................................................................................................................ 24

Hurricane ................................................................................................................................................ 25

Hurricane Strikes in the Eastern United States (1900-2010) .............................................................. 25

Tornado ................................................................................................................................................... 26

Tornadoes in United States (1991-2010) ............................................................................................ 26

How Virginia Compares .................................................................................................................... 27

Comparison of Counties ................................................................................................................... 30

Incentives ........................................................................................................................................ 31

Data Center Sales Tax Exemption ..................................................................................................... 58

Technology Zone Ordinance ............................................................................................................. 62

By Right Use Ordinance .................................................................................................................... 67

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Site Location

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General Site Information Site Name and Address Site Name: Venture Business Park

Site address 1: Bradburn Place and Wyche Road

Site address 2:

City:

County: Stafford

State and Zip Code: VA, 22554

Site Owner Information Name: R Income Properties, LLC/ Kendall Bennett/ Landmark Comm. R.E.

Address 1: 1856 Old Reston Av.

Address 2: Suite 301

City: Reston

County:

State and Zip Code: VA, 20190

Telephone: (703) 437-1440

Email Address: [email protected]

Asking Sale Price Asking sale price: $15,855,840

Site Attributes Site is a: Green field

Site topography: Flat

Soil type (s): Sandy loam

Lot size (in acres): 56.0 acres

Zoning classification: B-2

All permissible uses:

Location relative to flood zone: Outside a 500- year flood plane

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Utilities Fiber providers serving this site (list all): Verizon

Nearest fiber to the site: Verizon

What is the distance of this fiber from the site? Adjacent to site

Power provider name: Dominion Virginia Power

Power provider representative contact information:

Kent Hill Phone number: (804) 771-4987 Email address: [email protected]

Power rate for heavy industrial user: 5.37 cents/kwh

Power capacity at site:

~10MW* *Significant capacity available at site with transmission line extension. Please note that available capacity is subject to change. Contact the Dominion representative for the most current information.

Water provider name: Stafford Department of Utilities

Water Quality Report: Follows in document.

Water provider representative contact information:

Harry L. Critzer, Director Phone number: (540) 658-8630 Email address: [email protected]

Size of main serving site: 10 inches 400 GPM

Sewer provider name: Stafford Department of Utilities

Sewer provider representative contact information:

Harry L. Critzer, Director Phone number: (540) 658-8630 Email address: [email protected]

Permitted sewer capacity: 97,920 GPD

Taxes Real Estate Tax: $1.07/ $100

Personal Property Tax: $5.49/$100

BPOL Tax: No BPOL Tax

Does the BPOL Tax apply to data centers? N/A

Other taxes and rate of tax: N/A

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Transportation Nearest road (name and/or number): Jefferson Davis Highway, US 1

Distance from site: 2.0 miles

Nearest interstate: I-95

Distance from site: 0.0 miles

Nearest airport (commercial and general aviation):

Stafford Regional, Reagan National

Distance from site: 10.0/ 35.0 miles

Nearest railroad: N/A

Distance from site: N/A

Educational Sources

Colleges, universities, and trade schools within fifty (50) miles of the site:

George Mason University - Fairfax Campus 27,740 Northern Virginia Community College - Annandale Campus 20,708 Northern Virginia Community College - Woodbridge Campus 9,701 Northern Virginia Community College - Manassas Campus 6,641 Germanna Community College - Fredericksburg Campus 6,213 University of Mary Washington - Fredericksburg Campus 5,170 Northern Virginia Community College – Med. Education Campus 2,655 Germanna Community College - Locust Grove Campus 2,518 Lord Fairfax Community College - Fauquier Campus 2,265 George Mason University - Prince William Campus 2,213 University of Mary Washington - Stafford Campus 929 Germanna Community College - Daniel Technology Center

Germanna Community College - Stafford County Center

ECPI University - Northern Virginia Campus

ITT Technical Institute - Springfield Campus

Stafford Technology and Research Center Stratford University - Woodbridge Campus

Strayer University - Fredericksburg Campus

Strayer University - Manassas Campus

Strayer University - Woodbridge Campus University of Maryland – Stafford Campus

University of Northern Virginia - Annandale Campus

University of Northern Virginia - Centreville Campus

University of Northern Virginia - Manassas Campus †

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Incentives Potential state statutory and discretionary incentives:

Follow in document.

Potential local statutory and discretionary incentives:

Follow in document.

Is this site in an enterprise zone? No

Is this site in a hub zone? No

Is this site in a technology zone? Yes

Identify and define distress factor. None

General Site Information Contact

Contact information of person completing this form:

Bethany Miller Phone number: (540) 658-4580 Email address: [email protected]

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Infrastructure

Electrical

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Fiber

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Water and Sewer

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Water Quality Report

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Stafford County Regional Airport

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Takeoff and Landing Patterns

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Meteorological

Earthquake

Earthquake History, Eastern United States

Based on USGS map, above, this property has no history of earthquake activity nor has it sustained any earthquake damage.

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Earthquake History, Virginia (1973-Present)

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Top Earthquake States

1. Alaska 1

2. California

3. Hawaii 2

4. Nevada

5. Washington

6. Idaho

7. Wyoming

8. Montana

9. Utah

10. Oregon

Virginia is not listed in the top ten states with earthquake activity.

http://earthquake.usgs.gov/earthquakes/states/top_states.php#alaska

http://earthquake.usgs.gov/earthquakes/states/top_states.php#hawaii

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Hurricane

Hurricane Strikes in the Eastern United States (1900-2010)

Based on information obtained from NOAA, this site is not subject to hurricane activity or related flooding.

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Tornado

Tornadoes in United States (1991-2010)

Based on NOAA information from 1991 through 2010, Virginia and this site have one of the lowest averages of tornado activity. Virginia is lowest in southeastern United States.

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How Virginia Compares

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Comparison of Counties

Image captured July 2012.

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Incentives

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Data Center Sales Tax Exemption

VIRGINIA ACTS OF ASSEMBLY -- 2012 SESSION CHAPTER 655

An Act to amend and reenact § 58.1-609.3 of the Code of Virginia, relating to sales and use tax

exemption; computer equipment.

[H 216]

Approved April 6, 2012

Be it enacted by the General Assembly of Virginia:

1. That § 58.1-609.3 of the Code of Virginia is amended and reenacted as follows:

§ 58.1-609.3. Commercial and industrial exemptions.

The tax imposed by this chapter or pursuant to the authority granted in §§ 58.1-605 and 58.1-606

shall not apply to the following:

1. Personal property purchased by a contractor which is used solely in another state or in a foreign

country, which could be purchased by such contractor for such use free from sales tax in such other

state or foreign country, and which is stored temporarily in Virginia pending shipment to such state or

country.

2. (i) Industrial materials for future processing, manufacturing, refining, or conversion into articles of

tangible personal property for resale where such industrial materials either enter into the production of or

become a component part of the finished product; (ii) industrial materials that are coated upon or

impregnated into the product at any stage of its being processed, manufactured, refined, or converted for

resale; (iii) machinery or tools or repair parts therefor or replacements thereof, fuel, power, energy, or

supplies, used directly in processing, manufacturing, refining, mining or converting products for sale or

resale; (iv) materials, containers, labels, sacks, cans, boxes, drums or bags for future use for packaging

tangible personal property for shipment or sale; or (v) equipment, printing or supplies used directly to

produce a publication described in subdivision 3 of § 58.1-609.6 whether it is ultimately sold at retail or

for resale or distribution at no cost. Machinery, tools and equipment, or repair parts therefor or

replacements thereof, shall be exempt if the preponderance of their use is directly in processing,

manufacturing, refining, mining or converting products for sale or resale. The provisions of this

subsection do not apply to the drilling or extraction of oil, gas, natural gas and coalbed methane gas. In

addition, the exemption provided herein shall not be applicable to any machinery, tools, and equipment,

or any other tangible personal property used by a public service corporation in the generation of electric

power, except for raw materials that are inputs to production of electricity, including fuel.

3. Tangible personal property sold or leased to a public service corporation engaged in business as a

common carrier of property or passengers by railway, for use or consumption by such common carrier

directly in the rendition of its public service.

4. Ships or vessels, or repairs and alterations thereof, used or to be used exclusively or principally in

interstate or foreign commerce; fuel and supplies for use or consumption aboard ships or vessels plying

the high seas, either in intercoastal trade between ports in the Commonwealth and ports in other states

of the United States or its territories or possessions, or in foreign commerce between ports in the

Commonwealth and ports in foreign countries, when delivered directly to such ships or vessels; or

tangible personal property used directly in the building, conversion or repair of the ships or vessels

covered by this subdivision. This exemption shall include dredges, their supporting equipment, attendant

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vessels, and fuel and supplies for use or consumption aboard such vessels, provided the dredges are used

exclusively or principally in interstate or foreign commerce.

5. Tangible personal property purchased for use or consumption directly and exclusively in basic

research or research and development in the experimental or laboratory sense.

6. Tangible personal property sold or leased to an airline operating in intrastate, interstate or foreign

commerce as a common carrier providing scheduled air service on a continuing basis to one or more

Virginia airports at least one day per week, for use or consumption by such airline directly in the

rendition of its common carrier service.

7. Meals furnished by restaurants or food service operators to employees as a part of wages.

8. Tangible personal property including machinery and tools, repair parts or replacements thereof,

and supplies and materials used directly in maintaining and preparing textile products for rental or

leasing by an industrial processor engaged in the commercial leasing or renting of laundered textile

products.

9. (i) Certified pollution control equipment and facilities as defined in § 58.1-3660, except for any

equipment that has not been certified to the Department of Taxation by a state certifying authority

pursuant to such section and (ii) effective retroactive to July 1, 1994, and ending July 1, 2006, certified

pollution control equipment and facilities as defined in § 58.1-3660 and which, in accordance with such

section, have been certified by the Department of Mines, Minerals and Energy for coal, oil and gas

production, including gas, natural gas, and coalbed methane gas.

10. Parts, tires, meters and dispatch radios sold or leased to taxicab operators for use or consumption

directly in the rendition of their services.

11. High speed electrostatic duplicators or any other duplicators which have a printing capacity of

4,000 impressions or more per hour purchased or leased by persons engaged primarily in the printing or

photocopying of products for sale or resale.

12. From July 1, 1994, and ending July 1, 2016, raw materials, fuel, power, energy, supplies,

machinery or tools or repair parts therefor or replacements thereof, used directly in the drilling,

extraction, or processing of natural gas or oil and the reclamation of the well area. For the purposes of

this section, the term "natural gas" shall mean "gas," "natural gas," and "coalbed methane gas" as

defined in § 45.1-361.1. For the purposes of this section, "drilling," "extraction," and "processing" shall

include production, inspection, testing, dewatering, dehydration, or distillation of raw natural gas into a

usable condition consistent with commercial practices, and the gathering and transportation of raw

natural gas to a facility wherein the gas is converted into such a usable condition. Machinery, tools and

equipment, or repair parts therefor or replacements thereof, shall be exempt if the preponderance of their

use is directly in the drilling, extraction, refining, or processing of natural gas or oil for sale or resale, or

in well area reclamation activities required by state or federal law.

13. Beginning July 1, 1997, (i) the sale, lease, use, storage, consumption, or distribution of an orbital

or suborbital space facility, space propulsion system, space vehicle, satellite, or space station of any kind

possessing space flight capability, including the components thereof, irrespective of whether such

facility, system, vehicle, satellite, or station is returned to this Commonwealth for subsequent use,

storage or consumption in any manner when used to conduct spaceport activities; (ii) the sale, lease, use,

storage, consumption or distribution of tangible personal property placed on or used aboard any orbital

or suborbital space facility, space propulsion system, space vehicle, satellite or space station of any kind,

irrespective of whether such tangible personal property is returned to this Commonwealth for subsequent

use, storage or consumption in any manner when used to conduct spaceport activities; (iii) fuels of such

quality not adapted for use in ordinary vehicles, being produced for, sold and exclusively used for space

flight when used to conduct spaceport activities; (iv) the sale, lease, use, storage, consumption or

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distribution of machinery and equipment purchased, sold, leased, rented or used exclusively for

spaceport activities and the sale of goods and services provided to operate and maintain launch facilities,

launch equipment, payload processing facilities and payload processing equipment used to conduct

spaceport activities.

For purposes of this subdivision, "spaceport activities" means activities directed or sponsored at a

facility owned, leased, or operated by or on behalf of the Virginia Commercial Space Flight Authority.

The exemptions provided by this subdivision shall not be denied by reason of a failure,

postponement or cancellation of a launch of any orbital or suborbital space facility, space propulsion

system, space vehicle, satellite or space station of any kind or the destruction of any launch vehicle or

any components thereof.

14. Semiconductor cleanrooms or equipment, fuel, power, energy, supplies, or other tangible personal

property used primarily in the integrated process of designing, developing, manufacturing, or testing a

semiconductor product, a semiconductor manufacturing process or subprocess, or semiconductor

equipment without regard to whether the property is actually contained in or used in a cleanroom

environment, touches the product, is used before or after production, or is affixed to or incorporated into

real estate.

15. Semiconductor wafers for use or consumption by a semiconductor manufacturer.

16. Railroad rolling stock when sold or leased by the manufacturer thereof.

17. Computer equipment purchased or leased on or before June 30, 2011, used in data centers

located in a Virginia locality having an unemployment rate above 4.9 percent for the calendar quarter

ending November 2007, for the processing, storage, retrieval, or communication of data, including but

not limited to servers, routers, connections, and other enabling hardware when part of a new investment

of at least $75 million in such exempt property, when such investment results in the creation of at least

100 new jobs paying at least twice the prevailing average wage in that locality, so long as such

investment was made in accordance with a memorandum of understanding with the Virginia Economic

Development Partnership Authority entered into or amended between January 1, 2008, and December

31, 2008. The exemption shall also apply to any such computer equipment purchased or leased to

upgrade, add to, or replace computer equipment purchased or leased in the initial investment. The

exemption shall not apply to any computer software sold separately from the computer equipment, nor

shall it apply to general building improvements or fixtures.

18. Beginning July 1, 2010, and ending June 30, 2020, computer equipment or enabling software

purchased or leased for the processing, storage, retrieval, or communication of data, including but not

limited to servers, routers, connections, and other enabling hardware, including chillers and backup

generators used or to be used in the operation of the equipment exempted in this paragraph, provided

that such computer equipment or enabling software is purchased or leased for use in a data center that

(i) is located in a Virginia locality, (ii) results in a new capital investment on or after January 1, 2009,

of at least $150 million, and (iii) results in the creation on or after July 1, 2009, of at least 50 new jobs

by the data center operator and the tenants of the data center, collectively, associated with the operation

or maintenance of the data center provided that such jobs pay at least one and one-half times the

prevailing average wage in that locality. The requirement of at least 50 new jobs is reduced to 25 new

jobs if the data center is located in a locality that has an unemployment rate for the preceding year of at

least 150 percent of the average statewide unemployment rate for such year as determined by the

Virginia Economic Development Partnership or is located in an enterprise zone. This exemption applies

to the data center operator and the tenants of the data center if they collectively meet the requirements

listed in this section. Prior to claiming such exemption, any qualifying person claiming the exemption,

including a data center operator on behalf of itself and its tenants, must enter into a memorandum of

understanding with the Virginia Economic Development Partnership Authority that at a minimum

provides the details for determining the amount of capital investment made and the number of new jobs

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created, the timeline for achieving the capital investment and new job goals, the repayment obligations

should those goals not be achieved, and any conditions under which repayment by the qualifying person

data center or data center tenant claiming the exemption may be required. In addition, the exemption

shall apply to any such computer equipment or enabling software purchased or leased to upgrade,

supplement, or replace computer equipment or enabling software purchased or leased in the initial

investment. The exemption shall not apply to any other computer software otherwise taxable under

Chapter 6 of Title 58.1 that is sold or leased separately from the computer equipment, nor shall it apply

to general building improvements or other fixtures.

2. That this act shall be effective for purchases or leases of computer equipment or enabling

software made on or after July 1, 2012, for use in a data center that (i) meets the requirements of

subdivision 18 of § 58.1-609.3 of the Code of Virginia on or after January 1, 2009, and (ii) enters

into a memorandum of understanding on or after January 1, 2009, with the Virginia Economic

Development Partnership Authority prior to claiming such exemption.

3. That the provisions of this act shall expire on June 30, 2020.

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Technology Zone Ordinance

O12-

BOARD OF SUPERVISORS

COUNTY OF STAFFORD

STAFFORD, VIRGINIA

ORDINANCE

At a regular meeting of the Stafford County Board of Supervisors (the Board) held in the Board

Chambers, Stafford County Administration Center, Stafford, Virginia, on the day of , 2012:

----------------------------------------------------------------------------------------------------------

MEMBERS: VOTE:

Susan B. Stimpson, Chairman

Robert “Bob” Thomas, Vice Chairman

Gary F. Snellings

Cord A. Sterling

Paul V. Milde III

Ty Schieber

Jack Cavalier

----------------------------------------------------------------------------------------------------------

On motion of, seconded by, which carried by a vote of, the following was adopted:

AN ORDINANCE TO AMEND CHAPTER 23A OF THE STAFFORD

COUNTY CODE, “TECHNOLOGY ZONES”

WHEREAS, a technology zone can be a valuable tool for the encouragement of new and

expanding technology businesses in the County; and

WHEREAS, establishment of a technology zone allows localities to create special

incentives for qualified businesses locating or expanding operations in the technology zone; and

WHEREAS, the creation of a technology zone was recommended as part of the 2006

Economic Development Strategic Plan adopted by the Board; and

WHEREAS, on January 19, 2010, the Board amended the Stafford County Code to add

Chapter 23A, entitled “Technology Zones,” by its adoption of Resolution R10-02; and

WHEREAS, certain amendments to the technology zone ordinance are necessary to

further encourage investment within the technology zone;

NOW, THEREFORE, BE IT ORDAINED by the Stafford County Board of Supervisors

on this the ___ day of ________, 2012, that Chapter 23A of the Stafford County Code be and

hereby is amended and reordained as follows, all other portions remaining unchanged:

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O12-

Page 2

Chapter 23A. Technology Zones

Sec. 23A-1. Purpose.

The Board finds that the creation of local technology zones, with incentives for economic

growth, will foster the development, maintenance, and expansion of commercial and industrial

businesses engaged in technological research and design.

State law references: Similar provisions, Virginia Code § 58.1-3850.

Sec. 23A-2. Administration.

This chapter shall be administered and enforced by the County Administrator or his

designee. The County Administrator or his designee shall determine and publish the procedures

for obtaining the benefits created by this chapter. The County Administrator or his designee

shall be responsible for determining whether a business is a qualified technology business as

defined below or an existing qualified business and, when necessary, shall interpret the extent

and boundaries of the technology zone as set out in this chapter. Final incentive benefit

packages shall be approved by the Board in its discretion.

Sec. 23A-3. Definitions.

For the purpose of this chapter, the following words and phrases shall have the following

meanings, unless clearly indicated to the contrary:

Base year means the calendar year beginning from the date of the first capital investment

claimed in association with of the technology zone project. The base year is also the first

calendar year in which incentives are awarded.

Board means the Board of Supervisors of Stafford County.

Capital investment means it is measured as the change in the most recent assessed value,

as determined by the Commissioner of the Revenue, of real property, personal property, and

machinery and tools. This does not include an increase in real property values based upon

market increase due to any general reassessment. Capital investment also includes the assessed

value of leased office space when the total lease equals one million dollars ($1,000,000.00) spent

in a two-year period.

County means Stafford County.

Existing business means one that was actively engaged in the conduct of trade or business

in the County prior to an area being designated as a technology zone.

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New business means a business not previously located in and actually engaged in the

conduct of business in the County and that begins operation in a technology zone after the

technology zone was designated.

Qualified technology business means a technology business that has met the

qualifications set forth in section 23A-4.

Technology business includes, but is not limited to, research, development, manufacture,

or associated training of: biotechnology, chemicals, computer hardware, computer security,

computer software, data centers, energy, environmental, homeland security, manufacturing

equipment, advanced materials, medical, finance related companies, pharmaceuticals, photonics,

subassemblies and components, test and measurement, telecommunications, or transportation. In

no case shall the use of computers or telecommunication services by a business in its

administrative operations, by itself, qualify the business as a technology business.

Sec. 23A-4. Qualifications.

(a) Existing business. For an existing technology business to become a qualified

technology business, the firm must add a minimum of ten (10) net new full-time employees

whose combined average salary is at least one hundred fifty (150) one hundred (100) percent of

the average annual wage countywide based on the most recent quarterly data as prepared by the

Virginia Employment Commission. In addition, the firm must increase capital investment in the

technology zone by at least five hundred thousand ($500,000.00) dollars.

(b) New business. For a new technology business to become a qualified technology

business the firm must create a minimum of twenty (20) net new full-time job positions whose

combined average salary is at least one hundred (100) percent of the average annual wage

countywide based on the most recent quarterly data as prepared by the Virginia Employment

Commission. In addition, the firm must increase capital investment in the technology zone by at

least one million dollars ($1,000,000.00) dollars.

(c) Existing and new businesses. The following requirements shall apply to all businesses

seeking the incentives provided in this chapter:

(1) Businesses must be engaged in a technology business as set forth in

Section 23A-3.

(2) The increase in capital investment required to qualify must occur within

twelve (12) months of the date on which the Board approves the incentives package.

The base year shall be the first calendar year beginning on the date of the first capital

investment claimed in association with the technology zone project.

(3) Newly-created or additional full-time jobs required to qualify must be

created within eighteen (18) months of the start of the base year and be maintained for

the duration of the incentive package approved by the Board.

(4) Any assets owned by a business which are moved into a technology zone

from another location within the County shall not be included in the increased new

investment.

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(5) Within thirty (30) days of submitting a technology zone application, the

business shall furnish to the Commissioner of the Revenue company records, audits

and/or other pertinent documentation prepared by a certified public accountant to verify

ownership of business equipment, as requested by the Commissioner of the Revenue.

(6) Prior to the acquisition of new business equipment for which Machinery

and Tools and/or Tangible Personal Property Tax rebates will be sought, the

Commissioner of the Revenue shall audit the business’ existing equipment of the

company to ensure that such investment is in new, additional equipment and not

replacement of existing equipment.

(7) The business must be current in its payment of all taxes assessed by the

County.

Sec. 23A-5. Boundary of technology zone.

There is hereby created one (1) local technology zone within the County, to be named

“the Stafford County Technology Zone.” The boundary of the technology zone is the Urban

Services Area as defined by the Board in the adopted Comprehensive Plan.

Sec. 23A-6. Technology zone incentive package.

(a) Technology zone incentives may be offered to a qualified technology business as a

one-time contribution towards the development costs associated with a project, or may be

provided as a reimbursement or rebate, depending upon the nature and scope of the development.

The approval of incentives and their relative amount are at the complete discretion of the Board.

Under this discretion, qualified technology businesses may be granted incentives on a case-by-

case basis. These incentives may include fee and tax rebates, Economic Development Grants, an

expedited review process, and/or assistance in obtaining other sources of funding. In determining

the amount and terms of such incentives, the Board will give consideration to: the number,

quality, type, and average salary of new full-time job positions to be created or added; the

specific type of technology work to be performed at the location; the amount of capital

investment; the long-term company and industry outlook; and the company’s overall positive

impact on the County in the short and long terms.

(b) A qualified technology business may also be eligible to receive a waiver of certain

fees associated with new construction, including, but not limited to building permit, plan review,

and land disturbance fees, based upon the level of employment and capital investment generated

by the business.

(c) A qualified technology business may also be eligible, based upon the level of

employment and investment generated by the business and at the discretion of the Board, for

rebates in taxes for up to five years, with the first year being the base year, as follows:

(1) Machinery and Tools Tax. Up to a full rebate of all machinery and tools

taxes.

(2) Tangible Personal Property Taxes:

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a. Up to a seventy (70) percent rebate for the first two (2) years;

b. Up to a fifty (50) percent rebate for the next two (2) years; and

c. Up to a thirty (30) percent rebate for the final year.

(3) Business-based taxes. Up to a full rebate of any business-based taxes.

(d) The reductions authorized in subsections (c)(1), (c)(2), and (c)(3) above shall apply for

up to a period of five (5) calendar years or until such time that the business no longer operates as

a qualified technology business, ceases to meet the minimum criteria for a qualified technology

business, or removes its operation from the County during a year in which the reduction applies;

whichever occurs first. If the business removes its operation from the County during a year in

which any incentives granted under this Chapter are received, then the business shall promptly

repay to the County all incentives, including but not limited to rebates and grants, received by the

business pursuant to this Chapter. If the business ceases to meet the minimum criteria for a

qualified technology business, then the Board may abate any incentives awarded under this

Chapter for up to two years. If after or during the abatement period, the business meets the

minimum criteria for a qualified technology business, then the Board may reinstate the benefits

provided in the incentive package for the remainder of the incentive period, which shall be

extended by a period of time equivalent to the abatement period. If the business fails to operate

as a qualifying technology business after the expiration of the abatement period, then the

business shall promptly repay to the County all incentives, including but not limited to rebates

and grants, received by the business pursuant to this Chapter. A business must sign an agreement

to this effect prior to receiving any incentives pursuant to this Chapter.

(e) All technology businesses accepting incentives under this chapter must acknowledge

that financial information provided in connection with the payment of incentives becomes public

information and must waive any expectation of confidentiality to such information.

State law references: Similar provisions, Virginia Code § 58.1-3850.

Sec. 23A-7. Zoning Ordinance not affected.

This chapter is an economic development incentive and is not a zoning change. Nothing

herein shall be construed to affect any provision or requirement of the County Zoning Ordinance.

Sec. 23A-8. Waiver.

Unless expressly stated herein, this chapter shall not be construed to waive the

requirement of any ordinance, regulation or policy of the County, including, but not limited to,

those ordinances, regulations, and policies that require permits and approvals for land use and

construction. Additionally, unless stated otherwise herein, nothing in this chapter shall be

construed as waiving the right of the County to enforce its ordinances, regulations, or policies or

to collect any taxes, fees, fines, penalties, or interest imposed by law on a qualified technology

business or upon real or personal property owned or leased by a qualified technology business.

Sec. 23A-9. Effective date.

This Ordinance shall be in effect on and after the date of its adoption. AJR:TJB

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By Right Use Ordinance

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Every reasonable effort has been made to ensure that the information provided in this document is accurate; however, no guarantees for the currency or accuracy of information are made. MacNeilly Business Advisors, LLC’s material relating to information, products, and services (or to third party information, products and services) is provided ‘as is‘. It is provided without any representation or endorsement made and without warranty of any kind, whether express or implied, including but not limited to the implied warranties of satisfactory quality, fitness for a particular purpose, non-infringement, compatibility, security, and accuracy.

stafford county venture business park presentation

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