AGENDA REQUEST

Sponsor:

Board of Supervisors Meeting Date: 

R. Holder Trumbo, Scott District Supervisor

January 10, 2008

Staff Lead:

Department: 

Kevin J. Burke, County Attorney

County Attorney

Topic: 

A Resolution of the Board of Supervisors of the County of Fauquier, Virginia Approving the Issuance of Bonds by the Industrial Development Authority of the County of Fauquier, Virginia for the Benefit of Wakefield School, Inc.

 

Topic Description:

To approve the Industrial Development Authority's (IDA) assistance to Wakefield School, Inc. in: 

(1) Refinancing Authority bonds and a loan previously issued (together, the “Prior Obligations”) to assist the School in financing various completed capital building projects (renovations to Archwood House comprised of three floors and approximately 5,000 square feet, parking, landscaping, tennis courts, Robert’s Classroom Building comprised of two floors and approximately 35,220 square feet, Upper School Building comprised of three floors and approximately 19,800 square feet, Science/Tech. and Library Building comprised of two floors and approximately 19,600 square feet, Activity Center/Upper Gymnasium comprised of two floors and approximately 13,040 square feet, Arts Building comprised of two floors and approximately 7,719 square feet); and

(2) Financing new infrastructure improvements related to athletic field parking, emergency access (new “East Road” construction), campus storm water management, water wells and reservoir ponds for athletic field irrigation, and on campus (campus entrance) and off campus (Route 245/Old Tavern Road) traffic flow (the “Project”) located or to be located on or around the School’s campus at 4439 Old Tavern Road, The Plains. 

The bonds are not obligations of the IDA  (except from applicant revenues and security) or the County.

Requested Action of the Board of Supervisors: 

Consider adoption of the attached resolution.

Financial Impacts Analysis:

There are no financial impacts.

Identify any other Departments, Organizations or Individuals that would be affected by this request:

Industrial Development Authority of the County of Fauquier, Virginia
Michael W. Graff, Jr., Applicant Bond Counsel

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