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Committee backs reauthorization of enterprise zone cooperation agreement, raises rebate ceiling
Summary
The committee forwarded a reauthorized cooperation agreement to administer Richmond’s enterprise zone program; staff said it clarifies specialized-equipment definitions and raises the machinery-and-equipment rebate cap to $10,000.
The Standing Finance and Economic Development Committee voted to forward Ordinance 2025-237, reauthorizing the Enterprise Zone cooperation agreement between the City of Richmond and the Economic Development Authority to administer local enterprise zone incentives.
Jacqueline Teamer of the Department of Economic Development told the committee the agreement provides the…
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