Governor Kaine Announces $77 Million Investment in Prince Edward County

~ Poplar Hill Golf Club Inn and Conference Center to create 180 jobs ~

July 10, 2007

RICHMOND - Governor Timothy M. Kaine today announced the development of Poplar Hill Golf Club Inn and Conference Center, a $77 million, multi-use recreational facility that will boost the economy of Prince Edward County and the surrounding region. The project, located south of Farmville on U.S. Route 15, is expected to create 180 jobs, ranging from grounds crews to event planners.

"This project is an excellent example of successful collaboration," said Governor Kaine. "Public and private partners including Hampden-Sydney College, Longwood University, Prince Edward County, the Town of Farmville and the developer, Poplar Hill Holdings, LLC, have joined forces to increase tourism while providing a great source for workforce training and employment in the hospitality field."

Poplar Hill Holdings is developing a master plan resort, spa and country club community on 1,020 acres. Plans include an 18-hole golf course, which is already open, club house, the restoration of the old Victorian Manor House as part of a 120-unit inn and conference center, 40 duplexes and cottages. A spa and fitness center will also be offered, as well as a sports club including swimming and tennis and open recreational space and trails with the potential for an equestrian center. The inn and conference center are slated for completion within three years. The development of middle- to upper-income single family homes is planned over the next 10 years, with lots ready for sale later this year.

"We are delighted to have been able to partner with Prince Edward County, the Poplar Hill Community Development Authority, Hampden-Sydney College, Longwood University and the Town of Farmville, and local sponsors to enable such an extraordinary development for the community," said Michael Heffernan, Managing Partner, Herberton Group and Popular Hill Holdings. "We have created a formula through the creative mix of public and private finance to catalyze economic growth and development, tourism and strategic partnerships in education and training to build a lasting legacy for Southside Virginia and Prince Edward County. Poplar Hill will generate more than $47 million in taxes for Prince Edward County over the next 25 years."

The Virginia Tobacco Indemnification and Community Revitalization Commission approved $1 million in special projects funds toward infrastructure improvements to support the project. The company is eligible to receive state benefits from the Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development, because it is locating in a Virginia Enterprise Zone.

"The development of the Poplar Hill Golf Course, Inn and Conference Center will help establish the infrastructure that Prince Edward County needs to fully emerge as a tourism destination," said William G. Fore Jr., Chairman of the Prince Edward County Board of Supervisors. "The Board of Supervisors recognizes the importance of tourism as an economic development priority. The Herberton Group is continuing the goal that the Poplar Hill Community Development Authority and the leadership of Prince Edward County, the Town of Farmville, Hampden-Sydney College, Longwood University and local investors have envisioned for years."

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