On the agenda: Hopewell meeting — Data Center (Oct 5)

Hopewell Economic Development Authority
Board of Directors Meeting
Municipal Building, 300 N Main Street Hopewell
Sally Port Room
October 5, 2026
4:00 p.m.

AGENDA
1. Call To Order
Closed Session: Suggested Motion: To hold a closed meeting to discuss (a) the acquisition of real property for a public
purpose where discussion in an open meeting would adversely affect the bargaining position or negotiating strategy of the
public body, pursuant to Virginia Code § 2.2-3711(A)(3) (Potential acquisition of property), (b) a prospective business or
industry or the expansion of an existing business or industry where no previous announcement has been made of the
business' or industry's interest in locating or expanding its facilities in the community, pursuant to Virginia Code § 2.23711(A)(5) (Recruitment of new business/industry), and (c) consultation with legal counsel employed or retained by a public
body regarding specific legal matter requiring legal advice, pursuant to Virginia Code § 2.2-3711(A)(8).
2. Approval of Meeting Minutes
3. Treasurer’s Report
4. Chairperson’s Report
5. Charles J. Bennett, Director of Economic Development and Tourism Report
6. Committee Reports

7. Unfinished Business
a. Joint Meeting with City Council Recap
b. Legacy Business Grant Program Review Committee Schedule
8. New Business
a. Cavalier Square Redevelopment – EDA Involvement
9. Upcoming Events:
a. Hopewell Farmer’s Market – Every Thursday through November 19, 2026, 5-8PM – Hopewell Street,
Downtown Hopewell
b. National Night Out – Tuesday, October 6, 2026, 5PM-8PM – Hopewell High School
c. Data Center Summit hosted by Virginia’s Gateway Region – Thursday, October 8, 2026
d. Harvest Fest – Saturday, October 17, 2026, 6PM-9PM – Patrick Copeland Elementary School
e. Peanuts & Pumpkins Trunk or Treat – Saturday, October 24, 2026, 5PM-7PM, Appomattox River Peanut
Company
10. Next Meeting Date: Monday, November 2, 2026, at 4:00 PM
Adjournment

Economic Development Authority
City of Hopewell, VA
September 14, 2026

Meeting Minutes
Call to Order: 4:01 PM
Members Present:
John Eliades, Vice Chair
Matthew Mellon (Virtually, arrived in person at 4:50 PM)
a. Mr. Eliades asked Mr. Mellon to provide the reason for participating in the meeting virtually. Mr.
Mellon stated the temporary impairment of a family member in which he is the temporary
caretaker as the reason.
Tom Wagstaff
Drew Dayberry
Robert Gains
Bridgette Bowman (Arrived late at 5:05 PM)
Others Present:
Charles Bennett - Economic Development & Tourism Director, City of Hopewell
Kyle English - Business Retention & Expansion Specialist, City of Hopewell
Rita Joyner - Vice Mayor, City of Hopewell
Brenda Gilliam – Assistant City Attorney, City of Hopewell
Closed Session
At 4:02 PM, Mr. Wagstaff moved to enter closed session to discuss (a) the acquisition of real property for
a public purpose where discussion in an open meeting would adversely affect the bargaining position or
negotiating strategy of the public body, pursuant to Virginia Code § 2.2-3711(A)(3) (Potential acquisition
of property, Support agreement with City Council on transaction of property), (b) a prospective business
or industry or the expansion of an existing business or industry where no previous announcement has
been made of the business' or industry's interest in locating or expanding its facilities in the community,
pursuant to Virginia Code § 2.2-3711(A)(5) (Recruitment of new business/industry), and (c) consultation
with legal counsel employed or retained by a public body regarding specific legal matter requiring legal
advice, pursuant to Virginia Code § 2.2-3711(A)(8).
Vote: Unanimously approved
At 4:48 PM, Mr. Wagstaff moved to come out of closed session, seconded by Mr. Dayberry. Mr. Dayberry
read the certification and asked the members to certify the following: Pursuant to Virginia Code
subsection 2.2-3712, were the only matters heard, discussed, and considered by the Hopewell EDA in
the closed meeting public business matters (i) lawfully exempted from open meeting requirements under
the Virginia Freedom of Information Act, and (ii) identified in the motion by which the closed meeting was
convened?
Roll Call Vote:
John Eliades – Yes
Matthew Mellon – Yes
Tom Wagstaff – Yes

Robert Gains – Yes
Drew Dayberry – Yes
Approval of minutes from the July 6, 2026 meeting: The Authority considered the meeting minutes from
the August 3, 2026 meeting. A motion was made by Mr. Gains to approve the minutes as presented,
seconded by Mr. Dayberry.
Vote: Unanimously approved
Treasurer's Report:
The Treasurer reviewed the Authority’s balance sheet and monthly financial activity. He reported the
receipt of the City of Hopewell’s $50,000 annual contribution and approximately $21,000 in advance
option/lease payments associated with the CW Harris Property.
The Authority reviewed the FY2025 audit and discussed several auditor comments, including accounting
treatment of prior support agreements, segregation of financial duties, and tracking of annual conflict-ofinterest disclosures. Members discussed corrective procedures, including routing member conflict-ofinterest disclosures through the Department of Economic Development & Tourism for tracking and group
submission.
The Treasurer presented a proposal from Brown Edwards for the FY2026 audit in the amount of $15,000.
A motion was made and seconded to accept the Brown Edwards proposal and amend the budget, using
available third-party legal funds to cover the professional-services budget shortfall.
Vote: Unanimously approved
Mr. Wagstaff moved to accept the Treasurer’s Report as presented.
Vote: Unanimously approved
Chairperson's Report: No formal update provided.
Economic Development & Tourism Director's Report:
Mr. Bennett provided updates on current economic development projects and activities:
• Los Habanero’s Taqueria was highlighted following its opening, and staff noted the owner’s
additional restaurant experience and investment in the Hopewell property.
• Construction at LivAway Suites continues to progress, with opening anticipated in spring 2027.
• The Legacy Business Grant Program has received eight applications, with several additional
businesses working to submit applications before the September 18 deadline. Staff reviewed the
proposed grant review committee composition and anticipated convening the committee in early
October.
• Staff reported continued hotel development interest in Hopewell, including two active prospects
seeking to add lodging capacity in the City.
• Staff reported that a long-standing local shoe repair/leather business is being offered for sale and
that a local business owner is exploring a potential acquisition. Staff indicated that potential EDA
financing tools could be considered if a financing gap is identified.
• The joint EDA/City Council work session was confirmed for Tuesday, September 29, 2026, at 5:00 PM
in Council Chambers. Four EDA discussion items had been submitted for the agenda.

Committee Reports: No formal update provided.
Unfinished Business
a. Virginia Outdoors Foundation Grant: Engineering, surveying, and environmental due-diligence
work continues for the Francisco Landing/City Park property. An environmental review identified a
historical record of an underground storage tank; staff and the project team are working to
confirm proper closure documentation.
b. Joint Meeting with City Council Agenda: Staff will work to develop an agenda for distribution to the
Authority and the City Clerk, based on the four items that had been submitted to Council.
c. Invest Hopewell Business Loan Program: Mr. English presented revised program guidelines
incorporating changes requested at the previous meeting. Eligibility was expanded to include
legally nonconforming businesses operating in residential districts, subject to confirmation by
Planning & Development. Members held an extended discussion regarding interest-rate flexibility
for directly funded EDA loans and the need to balance competitive financing with responsible
stewardship of EDA funds. It was agreed upon that the interest rates for directly funded loans
should read: “From Prime Rate to Prime Rate minus 2%”.
A motion was made by Mr. Wagstaff and seconded by Mr. Mellon to accept the loan program with
the discussed revisions.
Vote: Unanimously approved
d. Legacy Business Grant Program Update: Discussed under Director’s report.
New Business
a. Support Agreement with City Council for 101 E City Point Road: The Authority reviewed the
support agreement previously discussed in connection with a City Council-approved economic
development transaction. Staff advised that City Council had already taken the necessary action
and recommended EDA approval. A motion was made by Mr. Dayberry to approve the support
agreement, seconded by Ms. Bowman.
Vote: Unanimously approved
Hopewell Sites Ready Marketing Program: Mr. English presented the new administrative
marketing program for privately owned vacant or underutilized commercial properties. The
program will allow Economic Development staff, with property-owner authorization, to market
eligible properties through the City’s Sites Ready webpage, social media, and other businessattraction channels while clearly establishing that City staff are not acting as commercial real
estate agents. No formal EDA action was required.
c. Hopewell Sites Ready Property Activation Loan Program: Mr. English presented a companion loan
program designed to help commercial property owners finance improvements necessary to
prepare vacant or underutilized properties for redevelopment, rehabilitation, marketing, or
productive reuse. Members discussed eligible uses, creditworthiness, collateral, interest-rate
flexibility, and the requirement that properties receiving financing participate in the Sites Ready
Marketing Program. A motion was made by Mr. Eliades to approve the Hopewell Sites Ready
Property Activation Loan Program as presented. The motion was seconded by Mr. Gains.

b.

Vote: Unanimously approved

Upcoming Events
• Central Virginia Legal Aid Senior Wills Clinic - September 23, 2026, 1:00 PM to 4:00 PM at the
Petersburg Public Library
• Hopewell Farmers Market - Thursdays in Downtown Hopewell
• Data Center Summit hosted by Virginia’s Gateway Region – Thursday, October 8, 2026, 8:30 AM tp
2:00 PM
• National First Responders Day Luncheon– October 28, 2026, 11:30 AM to 1:30 PM at Fire Station 1
• Waves Sandwich Company Five-Year Celebration – October 2, 2026, 10:45 AM to 6:00 PM
• Lamb Arts Fest – October 3, 2026, from 1 PM to 4 PM, Downtown Hopewell
Next Meeting Date: Monday, October 5, 2026, at 4:00 PM
Adjournment: The meeting was adjourned at 6:19 PM.

EDA of the City of Hopewell
Balance Sheet
As of Aug 31, 2026

Total
Assets
Current Assets
Bank Accounts
Primis

$308,898.18

Restricted City Funds 509 3 1/2

0.00

Restricted City Funds CW Prop

0.00

Restricted City Funds Legacy Gr

25,107.95

Restricted City Grant for Demo of 5111 Oaklawn Blvd

-35,000.00

Restricted Funds for 101 City Point Road

-175,000.00

Total for Primis

$124,006.13

Sun Trust

0.00

Total for Bank Accounts

$124,006.13

Accounts Receivable
Accounts Receivable

210,000.00

Total for Accounts Receivable

$210,000.00

Other Current Assets
Loan to Boathouse from EDA

2,982,507.67

Total for Other Current Assets

$2,982,507.67

Total for Current Assets

$3,316,513.80

Fixed Assets
509 3 1/2 Street Bldg

291,325.00

CW Harris Property

151,582.68

Hopewell Street Parking Lots

75,000.00

Total for Fixed Assets

$517,907.68

Other Assets
Deposit for Property Purchase

0.00

Due from City Legal Fees CWH

0.00

Grubbs Loan #3

0.00

Grubbs Loan 175K - Receivable

0.00

Note Due From Broadway LLC

114,556.88

Note due from Stone's Diner

15,621.85

Purchase Fund

0.00

Total for Other Assets

$130,178.73

Total for Assets

$3,964,600.21

Accrual Basis Thursday, September 17, 2026 02:11 PM GMT-04:00

1/2

EDA of the City of Hopewell
Balance Sheet
As of Aug 31, 2026

Total
Liabilities and Equity
Liabilities
Current Liabilities
Accounts Payable
Accounts Payable

0.00

Total for Accounts Payable

$0.00

Other Current Liabilities
Prepayment of Boathouse Loan

0.00

SONA Bank - Grubbs 175K Loan

0.00

Total for Other Current Liabilities

$0.00

Total for Current Liabilities

$0.00

Long-term Liabilities
Boathouse Loan Due Primis

2,982,507.67

Grubbs #3 due SONA Bank

0.00

Grubbs Loan #1 $175,000

-0.11

Total for Long-term Liabilities

$2,982,507.56

Total for Liabilities

$2,982,507.56

Equity
Opening Balance

147,880.41

Opening Balance Equity

273,920.39

Retained Earnings

481,811.91

Net Income

78,479.94

Total for Equity

$982,092.65

Total for Liabilities and Equity

$3,964,600.21

Accrual Basis Thursday, September 17, 2026 02:11 PM GMT-04:00

2/2

EDA of the City of Hopewell
Profit and Loss
August 2026

Total
Income
EDA Administrative Fee Boathouse Loan

2,841.64

Income from Boathouse Loan

16,811.09

Interest Income Broadway B Loan

746.67

Interest Income Primis Checking

550.98

Interest Income Stone's Diner

26.99

Total for Income

$20,977.37

Gross Profit

$20,977.37

Expenses
Interest Boathouse Loan

16,811.09

Utilities

536.80

Total for Expenses

$17,347.89

Net Operating Income

$3,629.48

Net Income

$3,629.48

Accrual Basis Thursday, September 17, 2026 02:04 PM GMT-04:00

1/1

09/30/2026
15:29:56

City of Hopewell, Virginia
FLEXIBLE PERIOD REPORT REC

PAGE 1
glflxrpt

FROM 2027 01 TO 2027 02
ORIGINAL
APPROP

TRANFRS/
ADJSTMTS

REVISED
BUDGET

ACTUALS

0

-50,000

-50,000.00

0

-24,440

.00

-24,440.00

.0%

0

15,000

.00

15,000.00

.0%

0

6,500

.00

6,500.00

.0%

0

125

.00

125.00

.0%

0

5,000

.00

5,000.00

.0%

0

125

.00

125.00

.0%

0

250

.00

250.00

.0%

0

0

33,119.03

-33,119.03

.0%

0

20,000

.00

20,000.00

.0%

0

35,000

.00

35,000.00

.0%

0

15,000

.00

15,000.00

.0%

0

22,000

.00

22,000.00

.0%

0

10,000

.00

10,000.00

.0%

0

1,000

.00

1,000.00

.0%

ENCUMBRANCES

AVAILABLE
BUDGET

PCT
USED

085 ECONOMIC DEVELOPMENT AUTHORITY
085 ECONOMIC DEVELOPMENT AUTHORITY
000 UNDEFINED DIVISION
00000 UNDEFINED PROGRAM
085-00-0000-000-00000-00000-00000-484401- TRANS GF
-50,000
085-00-0000-000-00000-00000-00000-484499- USESURPLUS
-24,440
085-00-0000-000-00000-00000-00000-503150- LGS SRVS
15,000
085-00-0000-000-00000-00000-00000-503190- OTHR PROF
6,500
085-00-0000-000-00000-00000-00000-505210- POSTAGE
125
085-00-0000-000-00000-00000-00000-505551- TRAINING
5,000
085-00-0000-000-00000-00000-00000-505810- DUES/MBER
125
085-00-0000-000-00000-00000-00000-506001- OFFICESUPP
250
085-00-0000-000-00000-00000-00000-509120- INTPYMTINT
0
085-00-0000-000-00000-00000-00000-509916-G0034 EDA
20,000
085-00-0000-000-00000-00000-00000-509916-G0043 EDA
35,000
085-00-0000-000-00000-00000-00000-509916-G0044 EDA
15,000
085-00-0000-000-00000-00000-00000-509916-G0045 EDA
22,000
085-00-0000-000-00000-00000-00000-509916-G0046 EDA
10,000
085-00-0000-000-00000-00000-00000-553330- SOFTWARE
1,000

.00 100.0%

09/30/2026
15:29:56

City of Hopewell, Virginia
FLEXIBLE PERIOD REPORT REC

PAGE 2
glflxrpt

FROM 2027 01 TO 2027 02
ORIGINAL
APPROP

TRANFRS/
ADJSTMTS

REVISED
BUDGET

ACTUALS

TOTAL ECONOMIC DEVELOPMENT AUTHORITY

55,560

0

55,560

-16,880.97

72,440.97

TOTAL REVENUES
TOTAL EXPENSES

-74,440
130,000

0
0

-74,440
130,000

-50,000.00
33,119.03

-24,440.00
96,880.97

GRAND TOTAL

55,560

0

55,560

-16,880.97

72,440.97

ENCUMBRANCES

AVAILABLE
BUDGET

PCT
USED

%

%

09/30/2026
15:29:56

City of Hopewell, Virginia
FLEXIBLE PERIOD REPORT REC
REPORT OPTIONS

Sequence 1
Sequence 2
Sequence 3
Sequence 4

Field #
1
9
4
5

Total
Y
N
N
N

Page Break
N
N
N
N

Report title:
FLEXIBLE PERIOD REPORT REC
Includes accounts exceeding
0% of budget.
Print Full or Short description: S
Print full GL account: Y
Sort by full GL account: N
Print Revenues-Version headings: N
Print revenue as credit: Y
Print revenue budgets as zero: N

From Yr/Per: 2027/ 1
To Yr/Per: 2027/ 2
Budget Year: 2027
Print totals only: N
Format type: 1
Double space: N
Suppress zero bal accts: Y
Amounts/totals exceed 999 million dollars: N
Roll projects to object: N
Print journal detail: N
From Yr/Per: 2015/ 3
To Yr/Per: 2015/ 3
Include budget entries: N
Incl encumb/liq entries: N
Sort by JE # or PO #: J
Detail format option: 1
Multiyear view: D

PAGE 3
glflxrpt

City of Hopewell, Virginia
ACCOUNT SUMMARY TRIAL BALANCE FOR FY27/JUL TO AUG
FUND 085
ACCOUNT
ACCOUNT NAME
BEG. BALANCE
085-00-0000-000-00000-00000-00000-110110EQUITY IN POOLED CASH/INVEST
.00
085-00-0000-000-00000-00000-00000-160100LAND
.00
085-00-0000-000-00000-00000-00000-160200BUILDING AND SYSTEMS
.00
085-00-0000-000-00000-00000-00000-170107NOTES-BOATHOUSE
.00
085-00-0000-000-00000-00000-00000-170108NOTES-BROADWAY
.00
085-00-0000-000-00000-00000-00000-170109NOTES-STONESDINNER
.00
085-00-0000-000-00000-00000-00000-210101ACCOUNTS PAYABLE
.00
085-00-0000-000-00000-00000-00000-240107DEFERRED REVENUE OTHER
.00
085-00-0000-000-00000-00000-00000-280203NOTES PAYABLE LT
.00
085-00-0000-000-00000-00000-00000-390200RESTRICTED FUND BALANCE
.00
085-00-0000-000-00000-00000-00000-390410ASSIGNED FUND BALANCE
.00
085-00-0000-000-00000-00000-00000-390600INVEST IN CAPITAL NET OF DEBT
.00
085-00-0000-000-00000-00000-00000-400000TOTAL REVENUES
.00
085-00-0000-000-00000-00000-00000-500000TOTAL EXPENDITURES
.00
TOTALS FOR FUND 085
ECONOMIC DEVELOPMENT AUTHORITY
REPORT TOTALS

.00
.00

DEBITS

CREDITS

NET CHANGE

END BALANCE

398,433.87

64,193.44

334,240.43

334,240.43

75,000.00

.00

75,000.00

75,000.00

442,907.68

.00

442,907.68

442,907.68

2,996,865.08

14,860.56

2,982,004.52

2,982,004.52

117,417.93

2,861.05

114,556.88

114,556.88

16,717.00

522.14

16,194.86

16,194.86

1,508.76

1,508.76

.00

.00

.00

21,000.00

-21,000.00

-21,000.00

14,357.52

2,996,865.08

-2,982,507.56

-2,982,507.56

.00

25,107.95

-25,107.95

-25,107.95

.00

360,597.08

-360,597.08

-360,597.08

.00

517,907.68

-517,907.68

-517,907.68

.00

90,903.13

-90,903.13

-90,903.13

33,119.03

.00

33,119.03

33,119.03

4,096,326.87
4,096,326.87

4,096,326.87
4,096,326.87

.00
.00

.00
.00

** END OF REPORT - Generated by Monica Booker **

Report generated: 09/30/2026 15:26
User:
mbooker
Program ID:
glatrbal

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Economic Development and
Tourism Report
September 2026

Conducted 4 business retention and expansion visits
Staff continue to work with multiple Hopewell businesses on expansion and
retention projects.
Staff has been active in asssiting two restaurant ownership groups in the
development of 3 eateries in the downtown area.
Los Habanero’s Taqueria held their grand opening on Tuesday, September
15th.
Staff hosted a large retail franchisee in town on Friday, September 18th and
showed five properties that would match their operation.
One additional business enrolled in the Beautiful Business Program and
supplies have been ordered.
The Legacy Business Grant has received twelve applicantions with a total
funding request of just over $98,000.
Upon approval of the Invest Hopewell Business Loan Program, staff have
fielded several inquiries about the program and how to apply for loans.
Our next Business Resource Meeting will be held on Wednesday, September
30, at 5:30 p.m. at Woodpecker’s Plaques and Crafts.
Staff continues to work toward redevelopment of the former bank property
for a new pharmacy. Purchase, finance, and loan documents have been
substantially developed and are undergoing final legal review.
Staff continue to assist a prospective pottery/art studio that has toured
several Downtown properties and is evaluating potential locations.
Staff is assisting a prospective veterinary clinic seeking approximately
3,000-3,500 square feet, with both existing buildings and new construction
opportunities under consideration.
Staff continues working with the property owner of the former Quick Lunch,
located at 113 Hopewell Street, on financing options for renovation and
reactiviation of this important Downtown property, including potential state
and EDA financing resources.