Posts Tagged ‘City Council’
(March 13, 2009) – - Mayor Sessoms and members of council,
Several years ago, citizens requested that the Virginia Beach City Council develop a business plan for all projects in the Oceanfront Resort Area.
A business plan provides a vision of the final design and clear direction for all development and includes rigorous cost estimates and realistic expectations of the return on investment (ROI).
A comprehensive business plan: Must identify the major components of a revitalized resort area; state the costs of all projects (including the interest costs); and state the anticipated revenue. From this information, council can calculate the economic justification for the projects