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Middlesex Board approves $1 million loan from county reserves to EDA for real‑estate acquisition; repayment terms not yet finalized
Summary
The Middlesex County Board of Supervisors approved a fiscal-year 2026 budget amendment to appropriate $1,000,000 from county fund balance as a loan to the Middlesex Economic Development Authority for a real‑estate acquisition intended to expand access to the Rappahannock River and Chesapeake Bay.
The Middlesex County Board of Supervisors approved a fiscal-year 2026 budget amendment to appropriate $1,000,000 from county fund balance as a loan to the Middlesex Economic Development Authority (EDA) for a real‑estate acquisition intended to expand access to the Rappahannock River and Chesapeake Bay.
County staff read the amendment and explained it would increase the county’s capital projects fund and the FY2026 total budget. County Administrator Walker cited state budget-code requirements for public hearings when a budget amendment exceeds 1% of the adopted budget (Code of Virginia § 15.2‑2506 and § 15.2‑2507 were referenced in the…
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