Poquoson EDA approves FY2026 budget as amended, delays Alliance payment pending review

The Poquoson Economic Development Authority voted unanimously to approve its proposed fiscal year 2026 operating budget after amending the language to withhold a planned payment to the Hampton Roads Economic Development Alliance pending further review.

An unidentified presenter outlined the budget and described routine line items including BMP fees, property insurance, professional fees for items such as wetlands delineation, and an interest/financing line item of about $14,000. The presenter asked the board to forward the budget to the city finance department and the city council for their review.

Board members questioned whether Poquoson receives direct, measurable economic development benefit from the Hampton Roads Economic Development Alliance and noted that, as a small locality without an industrial park, the city has historically attracted businesses through private outreach rather than Alliance referrals. The Alliance had provided a locality profile derived from the commissioner of the revenue; the Alliance is scheduled to present in front of the city council on Feb. 10.

Because of fiscal-year timing (the Alliance apparently bills on a calendar year while the EDA operates on a July 1–June 30 fiscal year) and because part of the Alliance fee appeared already paid for the calendar year, the board asked staff to confirm accounting details with finance. Staff proposed—and the board accepted—an amendment to allocate the Alliance line as general 'other services' in operating expense rather than directing payment to the Alliance, with the understanding that staff will bring a specific request back to the EDA board after the Alliance presentation.

After the amendment, a motion to approve the FY2026 budget as amended was moved, seconded, and approved in a roll-call vote with all directors voting in the affirmative. The presenter said staff will follow up with finance to clarify the request and will return the formal Alliance request to the EDA board for consideration at the next meeting.

The board set a March meeting date to revisit the Alliance materials and any recommended actions. There was no formal change to other budget lines reported in the meeting record.