County Announces Successful Loan Repayment, Infrastructure Plans

Published on July 01, 2024

Prince Edward County, VA – Prince Edward County is pleased to announce that the Poplar Hill Community Development Authority (CDA) has successfully repaid the loans provided by the Industrial Development Authority (IDA), totaling $200,000 and $20,000. The CDA is extremely appreciative of the IDA's support and assistance throughout this process.

With the repayment of this loan, 25% of the Special Tax will now be retained by the CDA annually. These funds will be directed towards current and future infrastructure improvements within the Poplar Hill project, significantly enhancing the capacity to address necessary developments and improvements in the area.

The CDA's immediate focus includes collaborating closely with Prince Edward County, the Virginia Department of Transportation (VDOT), and the project's owners to ensure the installation of turn lanes in the near future. Robert Atkinson, CDA and IDA board member, expressed the CDA's gratitude and optimism, stating, "The Poplar Hill Community Development Authority is extremely appreciative of the IDA's support and assistance. We are especially pleased to have completely repaid the IDA's loan at this time. With the payment of this loan, 25% of the Special Tax will now be kept by the CDA each year. These funds will be available to the CDA for current and future infrastructure improvements on the project."

Doug Stanley, Prince Edward County Administrator, remarked, "The Manor project represents a great opportunity to provide housing options for our citizens while supporting recreation and tourism with the Manor Golf Course. The IDA exists to help facilitate economic development including the creation of jobs and investment in the County, and I am glad that the IDA was able to play a part in supporting the Manor’s development."

Brad Watson, IDA Chairman, shared his enthusiasm, stating, "The Manor Golf Club is an incredible asset and draws many people to our area each year. The Prince Edward County Industrial Development Authority supported this project many years ago, and we are pleased that they were able to pay off their loan. We expect more good news to come from the CDA in the future and thank them for their tireless and continuous efforts."

The Manor Golf Club, a centerpiece of this project, continues to draw many visitors to the area. The development of Poplar Hill will introduce another vital housing option to our community. This addition will not only attract and retain residents but also provide a much-needed boost to our local tax base.

For more information, please contact:

Prince Edward County

Chelsey White

Director of Economic Development and Tourism

CWhite@Co.Prince-Edward.VA.US

 434.392.1482