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Department of Development
Y newport City of Newport News
BUILT ON 2400 Washington Avenue, 3rd Floor
news | BREAKTHROUGHS Newport News, VA 23607
April 14, 2026
Ms. Lysandra Shaw
Executive Director
Newport News Redevelopment and Housing Authority (NNRHA)
227 27" Street
Newport News, VA 23607
RE: Tradition Brewing Company - Loan Extension Request
Tradition Brewing Company (Tradition), a cornerstone business in Newport
News’ City Center area started conversations with NNRHA and City staff late
last year. In January 2026 Tradition, was requesting approval for a structured
repayment plan and extension under its existing NNUDAG loan agreement.
The company as of mid-February had a past-due balance of $7,932.72 on a
loan originally issued April 20, 2016, for $250,000 at 3% interest. Scheduled
monthly payments are $2,644.24, and the loan matures in April 2026 with a
significant balloon payment due absent an extension. This is the sixth
workout request from Tradition since August 2018, all of which were approved
and agreed upon by the NNRHA Board.
The recent delinquency reflects industry-wide challenges, including a
sustained downturn in alcohol consumption and heightened distribution
competition, which constrained early growth and placed heavy reliance on
taproom performance. Despite these pressures, Tradition attained
profitability in 2024 and 2025 through disciplined cost controls and enhanced
event programming. The company has also demonstrated strong
remediation, reducing its past-due balance from $21,471.72 in January 2024 to
$13,221.20 in January 2025 and $7,932.72 as of February 2026. Staff is pleased
to report that as of the date of this letter the loan, is current in its payments.Jump to an indexed page (195 of 195)