The Fredericksburg Economic Development Authority (EDA) on September 28 released its 2015 Annual Report, outlining the $257,588 worth of grants it approved during fiscal year 2015. “These grants supported projects representing about $768,000 worth of investment,” the report said
The largest single grant — $50,000 — went to FredXchange Inc. for the creation of an entrepreneurial-focused co-working and events space at 2324 Plank Road.
Fredericksburg VA Main Street Inc. received a $30,000 in grant funding and another $15,319 to help establish its “Experience Fredericksburg” gift card program.
LibertyTown Arts Workshop received a $25,000 grant, which was the fourth of five $25,000 installments. The final installment is expected to be disbursed early in the 2016 fiscal year.
Sugar Shack Donuts received a $15,000 grant to renovate the former gas station and convenience store at 801 William St. for its Fredericksburg location.
The EDA supported the Fredericksburg Regional Alliance (FRA) with $11,450 in funding.
Façade Improvement Matching Grants
The EDA approved $23,359 in façade improvement matching grants, supporting eight separate beautification projects in downtown Fredericksburg. Businesses supported by these grants included Benny Vitali’s, Mercantile, Fraser Wood Elements, Owens Funeral Service, Alan Furs/Bash Boutique and Spencer Devon Brewing.
JumpeStart Grants
Recipients of JumpStart Grants included:
Sprelly: $8,000 for a kitchen hood
Greater Fredericksburg Habitat for Humanity: $5,000 to help the organization relocate to Gateway Village
Celebrate Virginia Live: $7,500 to offset increased police and fire costs
Downtown Greens Inc: $7,268 for a mural
Kickshaws Downtown Market: $10,000 for a new kitchen
Fredericksburg Center for the Creative Arts: $10,000 for an exterior restoration of the Silversmith House
Agora Downtown: $2,500 for an ADA-compliant ramp and entrance.
Event Sponsorships
The EDA provided $14,693 to sponsor local events. These included:
Washington Heritage Museums’ 125th anniversary of the saving of Mary Washington House: $3,000
University of Mary Washington Philharmonic Orchestra’s Fiddlestix Summer Concert Series: $3,000
Next Generation of Business Leaders’ Made in FredVA business-pitch contest: $2,000
EDT’s Downtown Restaurant Week: $3,693
Fredericksburg Parks & Recreation’s First Night: $3,000
In addition, the Fredericksburg Area Museum and Cultural Center received $10,000 in grants for the Sounds of Summer Concert Series and $2,000 for a quilt exhibit. The EDA reported it also supported the museum with another $10,000, outside of its grant program. (The museum suspended operations in April, while “restructuring to ensure its long-term financial viability,” President and CEO Susan Glasser said.)
E-Commerce Grants
Roberson’s Music and Fraser Wood Elements each received $2,000 grants to bring e-commerce to their websites.
Other
Fredericksburg Economic Development and Tourism’s Window Wonderland holiday promotion received $3,000.
The Department of Parks & Recreation art and photography show received $3,000.
The EDA reported it also provided financial support outside its grant program, paying $9,025 for a report analyzing the economic impact of the proposed Diamond Nation amateur baseball and softball training and tournament complex in Celebrate Virginia South.
About the EDA
The EDA’s revenue comes from fees paid by organizations that have issued bonds through the authority for projects in the city, including Mary Washington Hospital, Eagle Village and the Gladys H. Oberle
School. “As of mid-2015, eight EDA bonds totaling about $258 million remained outstanding, producing approximately $220,000 in annual revenue for the authority,” the annual report said. The EDA receives no city tax dollars.
Grant applications are accepted March 1, June 1, September 1, and December 1. See the EDA Grants webpages for details.
Fredericksburg City Council appoints the seven members of the EDA, each of whom serves four-year terms. Members during the 2015 fiscal year were Chris Hornung (Chairman), Tom Crimmins (Vice Chairman), Bob Carter (Treasurer), Amy LaMarca (Secretary), Joe Wilson, Michael Colangelo and Steve D’Lugos.
More
Sugar Shack Donuts Opening in Fredericksburg
Sen. Warner Visits Fredericksburg Co-Working Space to Discuss the Gig Economy
Downtown Business Openings, Closings and Moves
EDA Approves $100K in Grants for Eight Organizations
FoodE Owners Announce a Second Restaurant
FAMCC Suspending Operations to Face Financial Troubles
Fraser Wood Elements Opens Downtown
EDA Awards Grants, Invests in Holiday Gift Card Program
Entrepreneurship, Broadband, Collaboration Key to Regional Economic Growth
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