city_council_regular_meeting_agenda_january_2024.pdf
EDA to Manage $700,000 Land Acquisition for Encroachment Mitigation
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Description
The City's Economic Development Authority will acquire and hold parcels using $700,000 from a state grant under an MOU supporting mitigation of development encroachment near Joint Base Langley-Eustis. EDA will manage property in partnership with the City, with strict deadlines for fund use.
Contract Details
Contract Amount
$700,000 (via City and State funds for stated purpose)
Vendor
ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF NEWPORT NEWS VIRGINIA
Agency
City of Newport News, VA
Contract Type
OTHER
Document Date
January 23, 2024
Contract Term
Funds to be expended or obligated prior to June 30, 2024; records maintained until June 30, 2027
Renewal Date
2024-06-30
Renewal Info
Subject to state and City audit, return unused funds to City by August 15, 2024; records must be maintained until June 30, 2027.
More from ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF NEWPORT NEWS VIRGINIA
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