Town Managing Compliance With VRA Utility Loan

Narrows continues to operate under a $250,000 Virginia Resources Authority loan executed in 2024, supporting water and sewer utility needs. The loan includes strict cash reserve and debt service coverage covenants that the town is currently not meeting, prompting rate increase discussions.

Document date · May 11, 2026

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Scope & details

The full contract record, as filed.

Contract amount

$250,000 loan

Contract type

FINANCIAL_SERVICES

Contract term

Entered in 2024; term not specified

Renewal

No renewal or extension terms discussed; focus is on covenant compliance under the existing loan.

Document type

Minutes

Source document

Narrows Town Council Minutes May 11, 2026

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Town of Narrows?

Virginia Resources Authority (vra) was awarded this financial services contract by Town of Narrows, as recorded on May 11, 2026. The contract value is $250,000 loan.

How much is the Virginia Resources Authority (vra) contract with Town of Narrows worth?

The Virginia Resources Authority (vra) contract with Town of Narrows is valued at $250,000 loan, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a minutes record.

Where was this contract approved?

This contract appears in Narrows Town Council Minutes May 11, 2026 (Minutes), dated May 11, 2026 from Town of Narrows. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Virginia Resources Authority (vra) hold?

Virginia Resources Authority (vra) may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View Virginia Resources Authority (vra)'s profile

What is Town of Narrows currently buying?

Explore Town of Narrows's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

View Town of Narrows's profile