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AGREEMENT
This Agreement is made and entered into on this 9th day of December, 2025, by and
between the City of Newport News, Virginia, a municipal corporation of the Commonwealth of
Virginia (hereinafter referred to as the "City"), and the Port Warwick Foundation, a Virginia non-
stock corporation and public non-profit 501(c)(3) organization (hereinafter referred to as the
"Foundation").
WHEREAS, the Foundation is a non-profit 501(c)(3) organization with the purpose of
organizing and managing arts and entertainment events; and
WHEREAS, pursuant to Section 15.2-953 of the Code of Virginia, the City may make
appropriations of public funds, personal property, real estate, and donations to any charitable
institution within its limits that provides services to residents of the locality, and to make gifts and
donations of real or personal property or money to any nonprofit recreational association or
organization; and
WHEREAS, pursuant to Section 15.2-940 of the Code of Virginia, the City may expend
funds for the purpose of promoting the resources and advantages of the locality; and
WHEREAS, the City desires to support the Foundation in its efforts to provide arts and
entertainment events within the Newport News community; and
WHEREAS, the Foundation is organizing a festival to include music, live performances,
concerts, workshops, and presentations, currently proposed to be held at multiple sites in
downtown Newport News on Memorial Day Weekend of 2026 (the “Event”); and
WHEREAS, the City desires to grant funding to the Foundation to support the Event to
promote the resources and advantages of the City, advance the cultural and arts scene within the
City, and provide an entertainment and recreation opportunity for residents and visitors.
NOW, THEREFORE, in consideration of the mutual covenants and promises herein
contained, the parties hereto agree as follows:
1. Grant Amount: The City agrees to grant up to Three Million Dollars ($3,000,000.00)
(the “Grant”) to the Foundation to support the Event. Two Million Dollars (the “First
Grant Payment”) will be made available for the Foundation’s use within five (5) business
days of the full execution of this Agreement. One Million Dollars (the “Second Grant
Payment”) will be made available within seven (7) business days of the commencement
of ticket sales, which shall occur no later than March 20, 2026. All Grant funds shall be
held in escrow by the Foundation and used for expenses associated with the Event as set
forth in Paragraph 2. Any excess Grant funds remaining after the Event shall be promptly
returned to the City as set forth in Paragraph 4. In addition to the Grant, the City agrees
to provide the Foundation with a donation of Thirty Thousand Dollars ($30,000.00) within
seven (7) business days of the full execution of this Agreement, to be used to support the
mission of the Foundation and the Foundation’s administrative expenses associated with
the Event.
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