Boones Mill Economic Development Corporation

The Corporation

The Boones Mill Economic Development Corporation (EDC) was created on February 27, 2015, to take ownership of a 10.220-acre parcel of land (Parcel J) in Franklin County, Virginia. On that same date, BMMFG, LLC conveyed the property to the Economic Development Corporation by quitclaim deed as part of the company's liquidation and distribution of assets. The deed transferred ownership of the parcel and all associated rights and appurtenances to the corporation, subject to existing easements, covenants, and restrictions. Since its creation, the corporation's primary asset has been this 10.220-acre parcel. The EDC  was tasked with conducting economic development activities for the Town.

Dissolution of the Corporation

The Boones Mill Economic Development Corporation is being dissolved because it has been inactive since its incorporation on February 27, 2015, and this will make it easier for the Town to secure federal and state cleanup grants. Since its inception, the corporation has not functioned in an official capacity to promote, support, or generate economic development opportunities or manage its 10.220-acre property. As a result, the corporation has not fulfilled its intended purpose, and its continued existence represents an unnecessary financial cost and legal liability to the Town. Instead, the Town has conducted economic development activities directly, effectively serving the role for which the corporation was originally established. Therefore, the Board of Directors is proceeding with the corporation's dissolution in accordance with applicable laws and regulations.

As the Town works to complete environmental cleanup in preparation for sale and development of the property, dissolving the EDC will allow the 10.220-acre property to revert to Town ownership, making it easier to secure federal and state cleanup grant projects.

Upcoming EDC Board Meeting October 13, 2026, 4 pm, at Town Hall - Open to the public.