Virginia Beach Development Authority Meeting, 11/10/2026

The Virginia Beach Development Authority meeting on November 10, 2026, reviewed October financial activity and approved two EDIP Part A awards. The Authority approved $320,000 for EverQuote (identified in the motion as EverTree Insurance Services) for planned investment of about $717,000 and 415 new jobs, and approved an award for Trident Civil of $58,000 to retain 28 jobs and $27,000 to create 11 jobs. The financial report also noted prior EDIP funding, including a $159,600 award to Mavromatis Dental, and reimbursements of $37,546 to Bourne Primitive and approximately $1.76 million to One Space Architecture. October payments included Corporate Landing design/construction-related work and surveying, over $6,000 for Human Services Building elevator modernization, and three facade-grant payments totaling $27,184.

The Authority approved an extension of Folks Candy’s purchase agreement, requiring the company to close on the property and commence construction by April 30, 2027; the discussion referenced a $610,000 land sale and an $11.5 million infrastructure project. A performance-period extension for Power Train Industries was discussed, but the transcript does not capture a clear motion or vote on it. Staff reported that the Kempsville RFP was advertised and will close December 23, and that recommendations for small-business grant awards—after 95 applications were received—are expected at the next meeting. Discussion and any vote concerning VB National were deferred to a future or special meeting.