Last night Danville City Council approved a moral obligation agreement with Virginia Community Capital for a loan to renovate the Ecomnets building. The project includes renovation of the 20,164 square foot building located in Airside Industrial Park.

The City Council approved a moral obligation agreement for this loan at its April 5th meeting. Since this time, construction costs have increased, resulting in the need to update the Commitment Letter. The agreement is for $3.2 million.