Stafford County recently rescinded its July 2019 Memorandum of Understanding (MOU) with Mosaic Realty Partners, the owners and developers of Aquia Town Center. The move follows Mosaic’s failure to perform specific maintenance requirements designated in the updated MOU. Throughout this complicated process, the Board has continually focused on keeping the community’s best interests in mind, which was the central position behind this vote. 

Specifically, Mosaic failed to repair the Aquia Town Center sign by replacing missing sign panels as required in the amended Memorandum of Understanding. Mosaic covered the sign but did not install sign panels. The Stafford Board of Supervisors entered into the MOU in an attempt to provide the owner with tax incentives to develop the property and to ensure that the owners maintain the property in an acceptable state until development occurs. The MOU clearly outlined the requirements for the developer. If the developer was able to meet those requirements, the incentive would have remained in place. If the owner was not able or willing to live up to the requirements, the Board could consider termination of the MOU. To date, the panels have not been installed even after noticing Mosaic multiple times, ultimately resulting in the Board’s decision to rescind the MOU.

Stafford County is committed to encouraging economic development in Aquia Town Center. However, Stafford County does not own the land. Mosaic Realty Partners owns the property. While the memorandum of understanding is no longer in effect, the company could still develop the site or sell it.

Offering tax incentives is one of the tools Stafford County uses to encourage commercial development. The County welcomes the opportunity to work with all developers who bring new concepts or ideas for the development of commercial properties around the county.