Danville-Pittsylvania Regional Industrial Facility Authority

Agenda — 2 items

1. Consideration of Resolution No. 2024-09-09-5B, authorizing the execution and delivery of that certain Contract of Sale between the Authority, as buyer, and Waller S. Hairston, William Hunt Hairston, Allen Waller Hairston, Anne Bartlett Hairston-Strang, and Sallie Hairston Miller, collectively as sellers, for the Authority’s purchase of certain real property located in Pittsylvania County, Virginia, consisting of approximately 289.47 acres (GPIN 1366-12-5834), commonly known as Berry Hill Rd/863 Dan River-Oak Hill Tr., provided however that the Authority shall only be authorized to deliver a non-refundable deposit equal to $50,000.00 allowing the Authority to initiate a review period in order to conduct due diligence on property for period of 90 days, and where the Authority has the option to extend the review period for two consecutive extensions of 30 days each subject to an extension fee $16,500.00 per extension – Mr. Rowe and Michael C. Guanzon, Esq., Christian & Barton, L.L.P., Authority Legal Counsel
2. Consideration of Resolution 2024-09-09-5C, approving that certain Local Performance Agreement with RBW Sports & Classics, Inc. (the “Company”), a Delaware corporation and an affiliate of RBW Classic Cars Ltd., a United Kingdom private limited company, under which the Company will establish and operate an electric car manufacturing facility at 1350 Barker Road, Ringgold, Virginia, at the Authority’s Cane Creek Centre Industrial Park, under a lease with the Industrial Development Authority of Danville, Virginia, including without limitation an option to purchase, and the City of Danville, Virginia, and the County of Pittsylvania, Virginia, would provide certain tax rebates and the waiver of certain permit fees and connection fees, in exchange for, among other things, the creation by the Company of 144 new jobs with an average annual wage of at least $53,514.67, excluding standard fringe benefits, and certain minimum capital investment of $7,951,000.00, over a performance period of 5 years – Mr. Rowe and Corrie T. Bobe, Director of Economic Development, City of Danville

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