FINANCIAL_SERVICESAPPROVED

Spotsylvania County Awards Financial Services Contract to Kalahari Va Llc (September 2022)

Spotsylvania County approved ordinances adopting its tourism marketing plan and directing local revenues to support a Performance Agreement with Kalahari VA, LLC for a major waterpark resort project in Thornburg. The agreement leverages up to $221.25 million in Qualified Gap Financing over as long as 20 years, funded by state, local, and project-generated revenues tied to a 2% sales and use tax on resort transactions.

Status
APPROVED
Document date
September 27, 2022
Contract type
FINANCIAL_SERVICES
Vendor
Kalahari Va Llc
Agency
Spotsylvania County · VA

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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 amount
$663,750,000 total project cost; $221,250,000 Qualified Gap Financing
Contract type
FINANCIAL_SERVICES
Contract term
Up to 20 years of Performance Incentive Payments or until gap financing is repaid
Renewal
Performance Incentive Payments will continue quarterly until the Qualified Gap Financing is fully repaid or 20 years have elapsed from the accrual of entitlement, whichever occurs first. The debt remains non-recourse to the County, EDA, and Commonwealth.
Document type
Minutes
Source document
Spotsylvania County Board of Supervisors Minutes 2022-09-27

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Spotsylvania County?

Kalahari Va Llc was awarded this financial services contract by Spotsylvania County, as recorded on September 27, 2022. The contract value is $663,750,000 total project cost; $221,250,000 Qualified Gap Financing.

How much is the Kalahari Va Llc contract with Spotsylvania County worth?

The Kalahari Va Llc contract with Spotsylvania County is valued at $663,750,000 total project cost; $221,250,000 Qualified Gap Financing, covering financial services work.

What type of contract is this?

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

Where was this contract approved?

This contract appears in Spotsylvania County Board of Supervisors Minutes 2022-09-27 (Minutes), dated September 27, 2022 from Spotsylvania County. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Kalahari Va Llc hold?

Kalahari Va 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.

View Kalahari Va Llc's profile

What is Spotsylvania County currently buying?

Explore Spotsylvania County's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

View Spotsylvania County's profile

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