Federal Economic Incentive Package (2010 dollars) Priority #1 Flood Protection$20,000,000 Priority #2 Wastewater System$15,008,680 TOTAL$35,008,680 Included in Virginia Incentive Request Can be Implemented within 2 years 1

Other Infrastructure Items Water System Improvements$10,094,778 Stormwater Mgt/Drainage$ 4,940,013 Beach Replenishment$15,838,310 Streets$4,000,000 Moat Bridge Repairs$ 429,419 Electrical Improvements$ 500,000 Gas System Improvements$ 6,050,438 Subtotal$76,859,637 20% contingency and 6.5% design$19,671,927 TOTAL$96,531,565 2

Research Existing and Model Documents/Laws Compare with Management Requirements in Reuse Plan: Real Estate, Preservation, Educational Programs Liaison with leadership national models, other consultants Recommend Efficient Institutional Management System and Organizational Chart Institutional Management Review 3

FY 2010 State Budget Request $1.6 million “Language clarifies that beginning with FY 2010, FMFADA will be responsible for all of the authority’s fiscal, procurement, human resources, and any other business related activities, because the Department of Housing and Community Development will no longer serve as the authority’s fiscal agent. FMFADA’s employees will continue to be eligible for state retirement and benefits.” 4

FMFADA Milestones January – June 2009 Jan RFP FMFADA Management Plan 7Initiate background studies supporting EDC 16Signed PA due to Advisory Council on Historic Preservation Feb 2Historic Preservation Advisory Committee Mtg – Ft Monroe RFP Interpretive Master Plan RFP Public Safety & EMS Assessments RFP Real Estate Appraisal (EDC) 28General Assembly Adjourns 5

FMFADA Milestones January – June 2009 Mar 19FMFADA Board Meeting Bay Breeze Community Ctr. Apr 6Historic Preservation Advisory Group Meeting 15Submit OEA 2010 Grant Request 16FMFADA Board Meeting – Design Standards Report/Non Profit Review May Completion of Draft Application (EDC) for internal review 1Submit Non Profit Paperwork to State/IRS Draft Environmental Impact Statement due 15FMFADA Board Meeting Bay Breeze Community Ctr. 6

FMFADA Milestones January – June 2009 Jun 1Notification of status of OEA Grant Draft MOU’s for future municipal/utility service providers Executing of lease in furtherance of conveyance (LIFOC) Review Economic Estimates to Hampton 9FMFADA Board Meeting Bay Breeze Community Ctr Operating Budget Management Plan EDC Conveyance Design Standards 7