Future of Hampton Roads, Inc.

Board of Directors Meeting

Minutes

Date: May 25, 2004, 2003

Time: 1000

Place: Town Point Club, Norfolk, Virginia

Present: Chairman Vince Thomas, President David Clark, George Barnett, Clay Barr, Barry Bishop, Jim Bradshaw, Art Collins, Minette Cooper, Craig Cope, Durwood Curling, Midge Eason, Brad Face, Clyde Hoey, Jack Hornbeck, Will King, Harry Lester, Anna McNider, Ed Minor, Joe Montgomery, Jon Nystrom, Jeanne Reporter, John Stone, Ray Taylor, Jake Tobin, Harry Train, Rich Werber

Chairman Thomas opened the meeting at 10:03. The minutes of the meeting of March 23rd were approved.

Jim Babcock updated the Board on the progress of the Planning Group. Power Point briefings are being presented to key regional groups, asking for their support and requesting their representation on the Steering Committee. Jim hopes to complete the recruiting effort by the end of June and hold the initial meeting of the Steering Committee in September.

David Clark suggested that we begin to hold meetings at various locations other than Norfolk within the Region in order to gain insight on issues throughout the region and increase visibility on our efforts to improve regional competitiveness in the global market. A motion to that effect was approved by the Board. The July meeting will be held at the Langley Federal Credit Union in Newport News

Brad Face briefed the Board on the status of High Speed Rail in Virginia. Although there has been some recent encouraging activity on the subject, progress is slow and funding is sparse. The Governor has tasked a commission to focus on bringing HSR to the region. Their work is to be completed by the end of the year. A recent presentation by Norfolk Southern was positive. That said, there is currently no one in the legislature assuming leadership responsibility for transportation issues in Virginia.

There followed extensive discussion on how FHR might influence the situation. The Executive Committee will draft a statement expressing the Boards concern over lack of leadership and funding for road and rail improvements in Hampton Roads. They will become proactive with our legislators and ask them directly where they stand on transportation issues. Finally they will develop a strategy to press for transportation improvements in the Region.

The meeting adjourned at 11:45.