FINANCIAL_SERVICESAPPROVED

City of Norton Awards Financial Services Contract to Lonesome Pine Regional Industrial Facilities Authority (July 2026)

Norton City Council approved participation in LPRIFA’s regional revenue sharing framework, which allocates real estate tax revenues from qualifying industrial projects among member localities, LPRIFA, and the host jurisdiction. The agreement creates a seven‑share formula intended to return contributions and share future project gains.

Status
APPROVED
Document date
July 7, 2026
Contract type
FINANCIAL_SERVICES
Vendor
Lonesome Pine Regional Industrial Facilities Authority
Agency
City of Norton · VA

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Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Scope & details

The full contract record, as filed.

Contract type
FINANCIAL_SERVICES
Contract term
Ongoing; seven-share revenue allocation model with no fixed end date
Renewal
Described as a perpetual revenue sharing agreement that can be revisited or modified through LPRIFA governance; no automatic review date is built in, but council may direct its appointees to seek changes.
Document type
AgendaPacket
Source document
City of Norton City Council Meeting Packet 2026-07-07

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by City of Norton?

Lonesome Pine Regional Industrial Facilities Authority was awarded this financial services contract by City of Norton, as recorded on July 7, 2026.

What type of contract is this?

This is a Financial Services contract, documented as a agendapacket record.

Where was this contract approved?

This contract appears in City of Norton City Council Meeting Packet 2026-07-07 (AgendaPacket), dated July 7, 2026 from City of Norton. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Lonesome Pine Regional Industrial Facilities Authority hold?

Lonesome Pine Regional Industrial Facilities Authority may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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