OTHERAPPROVED

Authority OKs Massive Performance Deal With SAC3

The Authority authorized a Local Performance Agreement with SAC III Acquisition Co., LLC tied to a March 9, 2026 Purchase and Sale Agreement for the Southern Virginia Megasite at Berry Hill. SAC3 committed to at least $100 billion in capital investment over 30 years and 2,500 new jobs over 20 years with minimum annual wages of $80,500.

Status
APPROVED
Document date
July 13, 2026
Contract type
OTHER
Vendor
Sac Iii Acquisition Co Llc
Agency
City of Danville · 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
OTHER
Contract term
30-Year Performance Period for capital investment; 20-year Performance Period for jobs
Renewal
Performance-based obligations span 30 years for capital investment and 20 years for job creation; enforcement includes minimum tax payment guarantees and potential tax rate adjustments for nonperformance as described in meeting discussion.
Document type
AgendaPacket
Source document
Danville-Pittsylvania Regional Industrial Facility Authority Agenda Packet 2026-07-13

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the government contract by City of Danville?

Sac Iii Acquisition Co Llc was awarded this government contract by City of Danville, as recorded on July 13, 2026.

What type of contract is this?

This is a government contract, documented as a agendapacket record.

Where was this contract approved?

This contract appears in Danville-Pittsylvania Regional Industrial Facility Authority Agenda Packet 2026-07-13 (AgendaPacket), dated July 13, 2026 from City of Danville. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Sac Iii Acquisition Co Llc hold?

Sac Iii Acquisition Co Llc 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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