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Finance and Economic Development Standing Committee
11.
To amend ch. 26, article V, div. 2 of the City Code by adding therein a new section 26-370, concerning a deferral program for certain real estate taxes pursuant to and in accordance with Code of Virginia § 58.1-3219.
No. 2025-282, introduces a Real Estate Tax Deferral Program for qualified owner-occupied properties in the City of Richmond
12.
To amend City Code § 12-11, concerning the deadline for submission of budget to Council, for the purpose of changing the deadline for submission from March 27 to March 11.
The deadline will move from March 27 to March 11 annually
13.
To authorize the Chief Administrative Officer, for and on behalf of the City of Richmond, to accept funds in the amount of $127,032.00 from the Commonwealth’s Development Opportunity Fund, to amend the Fiscal Year 2025-2026 Special Fund Budget by creating a new special fund for the Department of Economic Development entitled “PPD Special Fund,” and to appropriate the increase to the Fiscal Year 2025-2026 Special Fund Budget by increasing estimated revenues and the amount appropriated to the Department of Economic Development’s PPD Special Fund by $127,032.00, for the purpose of providing PPD Development L.P. with incentives to establish a bioanalytics laboratory facility at 737 North 5th Street in the city of Richmond. (6th District)
These funds will be used to establish a new special fund for the Department of Economic Development, named the "PPD Special Fund." The appropriation w...
16.
To authorize the Chief Administrative Officer, for and on behalf of the City of Richmond, to execute a First Amendment to Coliseum Parcel Redevelopment Cooperation Agreement between the City of Richmond, Virginia and the Economic Development Authority of the City of Richmond for the purpose of facilitating the development of a mixed-use City Center.
The amendment aims to facilitate the development of a mixed-use City Center
17.
To authorize the Chief Administrative Officer, for and on behalf of the City of Richmond, to execute a Cooperation Agreement between the City of Richmond and the Economic Development Authority of the City of Richmond for the purpose of facilitating the redevelopment of the City-owned property located at 500 North 10th Street. (6th District)
The agreement facilitates the redevelopment of the City-owned property at 500 North 10th Street, formerly the Public Safety Building