Town Council Work Session
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What was the purpose of opening the Town Council work session on October 7, 2024?
Yeah. No.
Mm.
I would like to open tonight's town council work session of October seventh, two thousand twenty four. Our first item for discussion tonight is tourism and technology zones. Mr. Seymour?
Back on november fourteenth of twenty twenty two, I had an opportunity to come before the council to talk a little bit about An idea or concept of incentives with specifically tied to certain areas and we wanted to make sure these areas aligned with our targeted industries here in Leesburg. So one of the first things we'll talk about The two zones and now these are state zones that are provided by the state, but they are based solely on local incentives. So these there are no state incentives that are specifically tied to either one of these. One of the things you'll notice on these programs is there's a varying period or a a period of time When you look at it for tourism zones and for technology zones, you can extend your any incentive that you provide for up to twenty years on a tourism zone and up to ten years on a technology zone.
I will tell you, having done these in the past, I would Only look at a three to five year plan, a window. And historically I would focus on a three year time frame uh for any any plans that we look at. Just a quick shot, here's the state code of Virginia for the tourism plan. Talks a little bit about that tax incentives may be provided for up to twenty years and he also alludes to reduction of user fees, reduction of permit fees. And different types of taxes that including B pol that would go along with that. Current tourism zones. If you look at this you kinda can see how it breaks out. Tourist or tourism zones right now are centered around northern Virginia. You look at the Richmond uh Hampton Roads area.
And then you can pretty much follow the I eighty one corridor with tourism zones. If I focus just on northern Virginia for a moment, these are some of the zones that are round us and when they were established. So city of Manassas, Berryville, Town of Warrington, Front War Royal. Town of Perceville here in Lounge County. Spotsylvania and City of Fredericksburg and you can see the varying time frames when these were actually established. Jumping over to a technology zone. Same type of zone, same type of program. I will tell you with a tourism zone, the one difference is that a tourism zone by definition also allows you to qualify. It is one of the qualifia or one of the qualifications you need to have. for additional state programs.
So you may have hear some of our hotel providers talk about there are other state programs or incentive programs that go along with the tourism zone. That is true, but it is the tourism zone is only one of that criteria. But it is something that would follow through this. Technology zones are different, they are strictly on the locality. When you look at the current technology zones and where they're spread out. Obviously the bulk of them are in Northern Virginia. Interestingly enough you can see the dark blue that are up there, those are where the entire locality is actually covered by a tourism or a technology zone in this case. The gray areas are localities that have 'em. The dark blue are the ones that where they cover the entire locality.
And with each of these larger localities you can have multiple zones. So if you wanted to do one area, two areas, three areas, depending on where you wanted to do it, you could have those in that area. Technology zones, again focusing on Northern Virginia. Arlington, Folkier, Spotsylvania, Stafford, Fredericksburg, City of Manassas, Manassas Park, and the City of Winchester, which was one of the first ones to establish it back in nineteen ninety seven. Some of the and these are examples of current programs and the eligibility requirements. So for tourism zones. Typically you run the first thing you look at is what is the capital investment involved. So whether it was you know, Ion, whether it was a hotel coming in
Whether it was a small arts dealership coming in, you set or you look at a minimum capital investment that would be a requirement.
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Agenda
3 itemsSpeakers
5 identifiedOfficials recognised by voice; public commenters shown as “Speaker N” unless they state their name.