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The Front Royal Warren County Economic Development Authority passed three resolutions at their meeting Wed.
Approving the release and agreement of the amount of $500,000 with Cincinnati Insurance.
The money represents the total amount of a Commercial Crime Coverage policy to settle a claim of alleged misconduct by, among others, former executive director, Jennifer McDonald.
The board then passed a resolution approving the Commonwealth of Virginia’s Commonwealth Opportunity Fund Performance Agreement.
With the agreement the company will commit to bringing jobs to the county as well as make a significant capital investment in building construction for the new operation.
The board also approved to extend the date of settlement with 2 East Main LLC to purchase the Afton Inn.
The developers, Jim Burton and Alan Omar, are dedicated to renovating the historic building to bring jobs and commerce to downtown Front Royal.
The developers now have until Feb. 12, 2021 to settle.
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