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Council pauses REDI payment to Radford University Foundation, asks for agreement amendment
Summary
Radford City Council voted to withhold this year's RADi (REDI) payment of $128,686.37 to the Radford University Foundation for the Highlander Hotel and asked the EDA and foundation to negotiate an amendment to extend the performance-agreement term so payment eligibility can be preserved in a later year.
The Radford City Council voted not to appropriate funds this fiscal year for a Radford Economic Development Incentive (REDI) grant requested by the Radford University Foundation for the Highlander Hotel and asked the Economic Development Authority (EDA) and the foundation to negotiate an amendment extending the performance agreement by…
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