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Authority extends Forbes Candy purchase deadline, shortens post‑sale commencement period
Summary
The board approved a one‑year extension to a developer's purchase agreement to September 2026 and shortened the standard three‑year recapture/commencement window to one year to encourage faster construction. The company plans a 26,000 sq ft facility and about 10 new jobs.
The Development Authority approved an amended purchase agreement to extend the closing and shorten the post‑purchase commencement recapture period for a long‑standing Virginia Beach confectioner.
Emily Archer presented the request for the company referred to in the meeting as Forbes Candy. Staff said the company plans a 26,000 square‑foot manufacturing and…
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