Danville-Pittsylvania Regional Industrial Facility Authority
Agenda — 1 item
- <p style="margin-left:0in;" data-pasted="true">Consideration of Resolution 2026-05-18-4A, authorizing the negotiations, execution and delivery of a Local Performance Agreement (“LPA”), in connection with Resolution No. 2026-03-09 for closing conditions under that certain Purchase and Sale Agreement dated March 9, 2026 (the “PSA”), between the Authority and SAC III Acquisition Co., LLC, a Delaware limited liability company (“SAC3”); under the LPA, SAC3 would agree at a minimum (i) to make certain capital investments to or for the Authority’s Southern Virginia Megasite in Pittsylvania County, Virginia, of at least $100 billion over a 30-year performance period and (ii) the creation of at least 2,500 Full Time Equivalent (FTEs) new jobs over a 20 year performance period, with a FTE annual compensation of at least $80,500.00, subject to a cost of living adjustment during the performance period - Matthew D. Rowe, Director of Economic Development, Pittsylvania County.
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