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Economic Development Authority
Purpose
The Economic Development Authority is authorized to acquire, own, lease, and dispose of local properties that will potentially promote industry and develop trade in Virginia.

Throughout the United States, economic / industrial development authorities assist new and expanding businesses in securing tax-exempt industrial development bonds. These bonds provide as much as 100% financing at interest rates that are much lower than those available from our sources. For the past 15 years, federal regulations have restricted the use of these bonds to financing of manufacturing facilities. Bonds are issued when financing these facilities, covering the cost of the land, buildings, machinery, or equipment. A mortgage or lien on the financed property is then secured and repaid from the revenue of the project.

Composition
The Economic Development Authority, created in 1971, is composed of ten members (two from each district) appointed by the Board of Supervisors for a period of four years. Appointments to fill vacancies are an exception and shall be for the remaining unexpired term.

Roanoke County Appointed Members

  • Greg Apostolou (Hollins District)
    Four-year term expires September 26, 2015
  • Paul Henkel (Hollins District)
    Four-year term expires September 26, 2014
  • Billy H. Branch (Cave Spring District)
    Four-year term expires September 26, 2017  
  • Steve Anderson (Cave Spring District)
          Four-year term expires September 26, 2017  
  • Stephen A. Musselwhite (Vinton District) 
          Four-year term expires September 26, 2017
  • Leon McGhee (Vinton District)
          Four-year term expires September 30, 2017
  • Kirtesh Patel (Catawba District)
          Four-year term expires September 26, 2015
  • Dan Toti (Catawba District)
          Four year term expires September 26, 2018
  • Ssunny Shah (Windsor Hills District)
          Four-year term expires September 26, 2018
  • Linwood P. Windley (Windsor Hills District)
    Four-year term expires September 26, 2016 
  • Jill Loope, Secretary-Treasurer
  • Paul Mahoney, Legal Counsel


For More Information
If you have any questions or would like more information, please contact the Economic Development Department at (540) 772-2069.