IDA Responsibilities

The powers of the IDA are set forth in Section 15.2-4905 of the Code of Virginia. However, Hampton's City Code specifically requires the IDA to acquire the consent of City Council before it finances any projects of any type or nature whatsoever. In addition, the city manager is authorized to enter into on behalf of the city contracts, agreements, and other documents setting forth the understandings between the IDA and the city.