Virginia Business Ready Sites Grant Award
The City of Staunton has been awarded a $850,780 Virginia Business Ready Sites grant from the Virginia Economic Development Partnership (VEDP) to undertake the essential due diligence studies, and preliminary/final site engineering and design to help move Staunton Crossing closer to a Tier 4 site. A copy of Governor Northam’s press can be found here.
The State’s goal of VBRSP Site Development Grant Program is to develop a pool of potential sites that are well prepared and positioned for selection and development by prospective economic development projects. In October, VEDP launched FY2022 grant application program with a total of $7 million in funding. Eighteen applications totaling an estimated $44 million were received, however only eleven were funded. With this award, coupled with the $432,000 in Brownfields grant for the current demolition at Staunton Crossing, VEDP has provided over $1.28 million to help move this site closer to a Tier 4 status.
Understanding Staunton Crossing’s importance in VEDP’s overall economic development strategy, the Virginia Department of Transportation committed over $9 million in Smart Scale and Revenue Sharing funds. These funds provided for the construction of the new entrance boulevard (Crossing Way), and an 0.85-mile extension, which includes a 100-space park-and-ride lot with charging stations, and a shelter for a BRITE Bus stop.