Albemarle County invests $58 million on land for Rivanna Station Futures Project
CHARLOTTESVILLE, Va. (WVIR) - Albemarle County has spent $58 million on 462 acres of land for the Rivanna Station Futures Project.
The county says the goal is to partner with entities to build out the intelligence community surrounding the station.
“We will be able to provide standoff distance and prevention of any encroachment on the existing Rivanna Station,” Albemarle Deputy County Executive Trevor Henry said. ‘We could develop a public-private partnership. We would bring Department of Defense, academic institutions, private sector.”
Henry says that this project has been in the works for years. The money being used to finance it is brought in through the Capital Improvements Program.
“$58 million will be converted over to long term debt, and we’ll pay for that work over two decades,” Henry said.
The county says it wants to continue to invest in the military sector.
Henry says Rivanna Station accounted for 50% of the $1.2 billion that the Defense Department brings in.
The board will hear from county staff on June 7 to make sure that the property can be developed properly.
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