EDA Meeting 10.24.2024

The Grayson County Economic Development Authority (EDA) held a meeting on October 24, 2024, focusing primarily on community development and agricultural recovery efforts. A significant portion of the meeting was dedicated to discussing the potential transfer of ownership of the Mount Rogers school property to the White Top Community Improvement Club, a 501(c)(3) organization. The group proposed to maintain and repurpose the property as a community and economic resource, seeking to raise approximately $3 million through private foundation grants. The EDA members debated the inclusion of a callback clause in the transfer agreement but ultimately moved forward without it to avoid discouraging potential funding. Additionally, the EDA discussed establishing a revolving loan fund to assist local farmers affected by recent natural disasters, aiming to allocate around $200,000 to support agricultural recovery through grants or low-interest loans. A subcommittee was proposed to develop the application and distribution process for these funds, with a follow-up meeting scheduled for November 19, 2024, to finalize decisions. No formal votes on funding amounts were taken during this meeting, but motions related to property transfer and subcommittee formation were passed.