Economic Development Authority (EDA)

Meetings

  • 3rd Wednesday of each month

Members

Steve Musselwhite, Chairman
Vinton District
Linwood P. Windley, Vice Chairman
Windsor Hills District
Steve Anderson
Cave Spring District
Greg Apostolou
Hollins District
Max Beyer
Hollins District
Michael Cagle
Cave Spring District
Kirtesh Patel
Catawba District
Kyle Richardson
Catawba District
Ssunny H. Shah
Windsor Hills District

About the Authority

Throughout the United States, Economic/Industrial Development Authorities assist new and expanding businesses in securing tax-exempt industrial development revenue bonds. These bonds provide as much as 100% financing at interest rates that are much lower than those available from other sources. For the past 15 years, federal regulations have restricted the use of these bonds to financing of manufacturing facilities. Bonds are issued when financing these facilities, covering the cost of land, buildings, machinery or equipment. A mortgage or lien on the financed property is then secured and repaid from the revenue of the project.

Ten directors appointed by the Roanoke County Board of Supervisors govern the Economic Development Authority of Roanoke County, created in 1971. It is authorized to acquire, own, lease and dispose of local properties that will potentially promote industry and develop trade in Virginia.