Virginia Beach Development Authority Meeting, 4/14/2026

The Virginia Beach Development Authority held a meeting on April 14, 2026, focusing extensively on financial reviews, economic development investment program (EDIP) awards, and capital improvement projects. The Authority reviewed March financial statements, including operating cash balances and reimbursements related to capital maintenance accounts. Two EDIP awards were approved: $12,240 to One Space Architect for retrofitting office space and $36,000 to PT to Go for building purchase and job creation. Additionally, four grants totaling $77,833 were approved under the Atlantic Avenue Grant Program for facade and exterior improvements to local businesses. The meeting also included updates on capital improvements and fan satisfaction at the Virginia Beach Amphitheater and The Dome, with expenditures such as stage lighting replacement and parking lot expansion. The Authority approved a three-year $45,000 concert box agreement for marketing purposes and authorized subleases for international incubator office spaces to Luna's Light and Air Compression. The meeting concluded with a closed session discussing prospective business and contract awards. Overall, the meeting involved multiple procurement-related decisions including contract approvals, grant awards, and capital project updates.