The Fredericksburg EDA will help foot the bill for Fredericksburg’s annual Pride festival in June, voting unanimously at Monday’s meeting to pay the $1,000 rental fee and $500 deposit for Riverfront Park. Those funds will go directly from the EDA to Fredericksburg Parks, Events and Recreation, which oversees the site on Sophia Street in downtown Fredericksburg.
The proposal from Fredericksburg Pride was one of two grants the EDA weighed funding at Tuesday’s meeting, with the other submitted by the 2nd Annual Pickle and Grilled Cheese Festival. That two-day event, planned for the Fredericksburg Fairgrounds in November, was seeking $2,500 for rental fees and other associated expenses. According to their proposal, they anticipate a profit approximately $50,000.
“It is fair to say that this feels early,” EDA Chairwoman Beth Black said on Tuesday, which were sentiments echoed by fellow EDA member Mitzi Brown.
“I’d like to see more flesh on the bones,” Brown replied.
That applicant will return in August.
Tuesday’s meeting also saw the EDA provide an update on its draft budget for fiscal year 2026, with member Kevin Hughes briefing the group on an expected 15% drop in anticipated income over last year. That’s due to forecasted revenue reductions on bonds, interest from CDs and an estimated reduction of income from the InvestFXBG loan program.
Fredericksburg Economic Development and Tourism Director Josh Summits provided insight on the draft RFP (request for proposal) on a sports feasibility study, giving the board 30 days before putting it “out to market.” According to Summits, that effort should include a number of items on planning, stakeholder and community engagement, marketing benchmarks, gap analysis and the final steps for a final report.
Summits told the EDA that a number of “national agencies” are interested in hearing more.
The EDA is also taking a closer look at a trio of grants, including the Community Business Launch Program, a Virginia EDP Brownfields grant and the T-Mobile Hometown Grant Program, the latter of which provides up to $50,000 to foster projects like outdoor spaces, art and community centers and technology upgrades. That grant closes at the end of June.
Finishing with an update on Fredericksburg Main Street’s Executive Director Chris Allen, the EDA heard about downtown businesses and restaurants experiencing “a small overall drop” in foot traffic. Downtown’s historic retail district did see a “really busy” Mother’s Day weekend, which coincided with the University of Mary Washington’s commencement.
Monday’s meeting concluded with a closed session to discuss litigation pertaining to an InvestFXBG loan default.
All members were present with the exception of EDA member Joel Griffin.
The body will meet next on Monday, June 9th at 8:30 AM inside the new Visitor Center at 601 Caroline Street.
