| | | | | | | | Spotsylvania County
Board of Supervisors Agenda
Executive Summary |
| | | | | | | | Meeting Date:
| May 24, 2022 |
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| | | | | | | | Title:
| Approval of a Performance Agreement for Kalahari VA, LLC |
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| | | | | | | | Agenda Title:
| Approval of a Performance Agreement for Kalahari VA, LLC |
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| | | | | | | | Recommendation:
| Staff requests the Board of Supervisors to approve a Performance Agreement for Kalahari VA, LLC, also known as Kalahari Resorts and Convention Center. |
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| | | | | | | | Summary:
| Kalahari Resorts is a privately owned company that operates America’s largest indoor waterparks and desires to locate on a 140-acre site in the Thornburg area. Kalahari will make a $475,000,000 capital investment that will create 600+ job opportunities and significant tax revenue for the County.
The resort will feature a 770-room hotel, multiple on-site restaurants, unique retail shops, an indoor waterpark, entertainment and retail facilities, a fully-equipped fitness center and spa, and a state-of-the-art conference center with a planned opening no later than June 30, 2028.
To induce the location of Kalahari, the incentives provided will be in the form of grants based on taxes paid by Kalahari at the Spotsylvania location |
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| | | | | | | | Financial Impact:
| The economic impact over a ten (10) year period is estimated to generate $3.5 billion in direct and indirect impact and earnings in excess of $862 million.
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| | | | | | | | Staff Contacts:
| Deborah Sanders, Interim Director of Economic Development |
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| | | | | | | | Additional Background/Other Considerations:
| In addition to the creation of new jobs, Kalahari’s location will strengthen new investment opportunities and support existing businesses in the Thornburg area, add diversity to the commercial tax base and support tourism related commercial attractions. |
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| | | | | | | | Consequence of Denial/Inaction:
| The Agreement will not move forward.
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