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Matthew Hamaker urges ROI tracker, cites past embezzlement in economic development
Summary
Resident Matthew Hamaker asked the board to add a year‑by‑year ROI tracker to the annual report and raised concerns about historical budget revisions and past embezzlement in the economic development department.
Matthew Hamaker, who identified himself as a Virginia Beach resident, used the public‑comment period to press the board for more transparency in the economic‑development annual report and to question recent historical revisions in the department’s FY27 budget. He said he reviewed meeting recordings from the last two years, contended that public comment has rarely been used by individual citizens, and handed the board documents he said support his request for additional disclosure.
"Two of the last four directors here lost their jobs because they embezzled city funds," Hamaker told the board, and he asked that the annual report include a year‑by‑year tracker showing the return on investment for projects the authority oversees, naming Atlantic Park and the Dome as examples. He also flagged significant upward revisions in reported capital investment — including, he said, an FY25 increase of $1,000,000,000 compared with prior reports — and asked staff to explain those changes publicly. Hamaker said he would provide the papers to staff for review; the board acknowledged receipt and moved on to the next agenda item.
