Matta River Community Development Authority
The Matta River Community Development Authority (Matta River CDA or CDA) was created on May 9, 2023, as a public body politic and corporate and a political subdivision of the Commonwealth of Virginia by uncodified ordinance of the Board of Supervisors in accordance with the applicable provisions of the Virginia Water and Waste Authorities Act at Title 15.2, Chapter 51, Article 6, Community Development Authorities. Its Articles of Incorporation, as approved by the Board of Supervisors and signed by the County Administrator on July 25, 2023, have been filed with the Virginia State Corporation Commission in accordance with law.
This matter came to the attention of the Board of Supervisors, as a result of a formal Petition of landowners, Kalahari VA, LLC (Kalahari) and Donald N. Patterson, regarding their properties located at Tax Map Numbers seeking to establish the Matta River CDA and the Matta River CDA District. They are TM#s 76-A-56, 76-A-56A, 76-A-56B, 76-A-56C, 76-A-56D, 76-A-58, and 76-A-58C. These properties exclusively comprise the Matta River CDA District and the uncodified ordinance has been filed amongst the land records for the respective properties.
Community development authorities serve multiple local government purposes. They are one of many economic development tools available to localities. The purposes of the Authority include the issuance of revenue bonds for the provision of public infrastructure, facilities, and services necessary or desirable in furtherance of economic development, and in the instant case, for the development of a hotel, convention center, and waterpark resort by Kalahari in the County.
The expected benefits from the provision of the proposed infrastructure and the operation of the Matta CDA are:
*The provision of the Infrastructure and the Operation of the CDA will facilitate the County’s efforts to attract new business and economic development to the County in furtherance of the County’s business development and economic growth strategies.
*The Infrastructure and the Operation of the CDA are necessary or desirable for development or redevelopment within or affecting the CDA District or to meet the increased demands placed upon the County as a result of development or redevelopment within or affecting the CDA District.
*The development or redevelopment of the area within the CDA District, which will be enabled by the Infrastructure, will (a) create additional jobs in the County, (b) enhance the County’s tax base by increasing tax revenues and the value of real property within and around the CDA District and (c) provide new recreational facilities for indoor and outdoor recreational, cultural, and educational use for the citizens of the County and the Commonwealth.
The affairs of the Matta River CDA shall be conducted by a seven (7) member authority board appointed by the Board of Supervisors. Except for the initial terms in office, which are staggered, all members thereafter shall serve a four-year term.
The Matta River CDA is a separate and distinct legal entity from the County. Any bonds issued by the Matta River CDA shall be a debt of the CDA and is not a debt of the County.