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VBDA reviews July financials and FY24–25 annual report highlighting EDIP awards and Atlantic Park milestones
Summary
The board reviewed July operating cash flows (ending balance $7,105,813), draw/payment details for Atlantic Park and Innovation Park projects, and an annual report summarizing five EDIP awards (~$1.7M total), a $45M Acoustical Sheet Metal expansion and Atlantic Park openings.
The Virginia Beach Development Authority reviewed its July 2025 financial statements and the fiscal-year 2024–25 annual report at the Aug. 12 meeting.
Howie McEntee reported an operating beginning balance of $7,264,363 and an ending cash balance of $7,105,813 for July after receipts (including $13,110 from Atlantic Park operations) and disbursements for off-site infrastructure, professional services and capital…
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