South Boston Hotel Redevelopment Loan Recommended | Virginia Tobacco Region Revitalization Commission | TOWN OF SOUTH BOSTON INDUSTRIAL DEVELOPMENT AUTHORITY

South Boston Hotel Redevelopment Loan Recommended

The Commission staff recommended a $4.25 million loan to the Town of South Boston Industrial Development Authority for the former John Randolph Hotel redevelopment. The proposed loan would have a 10-year term at 5% interest and support a 30-room boutique hotel, restaurant, conference center, and rooftop bar.

Document date · September 29, 2026

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Scope & details

The full contract record, as filed.

Contract amount

$4.25 million

Contract type

FINANCIAL_SERVICES

Contract term

10 years

Renewal

Ten-year loan term; repayment at 5% interest.

Document type

AgendaPacket

Source document

Virginia Tobacco Region Revitalization Commission AgendaPacket Fall 2026 Committee and Commission Meetings 2026-09-29

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Virginia Tobacco Region Revitalization Commission?

Town of South Boston Industrial Development Authority was awarded this financial services contract by Virginia Tobacco Region Revitalization Commission, as recorded on September 29, 2026. The contract value is $4.25 million.

How much is the Town of South Boston Industrial Development Authority contract with Virginia Tobacco Region Revitalization Commission worth?

The Town of South Boston Industrial Development Authority contract with Virginia Tobacco Region Revitalization Commission is valued at $4.25 million, covering financial services work.

What type of contract is this?

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

Where was this contract approved?

This contract appears in Virginia Tobacco Region Revitalization Commission AgendaPacket Fall 2026 Committee and Commission Meetings 2026-09-29 (AgendaPacket), dated September 29, 2026 from Virginia Tobacco Region Revitalization Commission. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Town of South Boston Industrial Development Authority hold?

Town of South Boston Industrial Development Authority may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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