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School board approves joint economic incentive for Kroger amid public concern over school funding
Summary
The board voted to approve city resolution 25‑17 supporting an economic incentive for a Kroger project. City staff described a revenue-sharing memorandum of understanding; a public commenter urged the city to use tax incentives rather than school funds.
The Colonial Heights School Board on Jan. 25 voted to approve a joint economic incentive tied to a Kroger development after city staff outlined a memorandum of understanding that shares new tax revenue with the school division.
City staff described the agreement as a revenue-sharing arrangement under which the school division would receive 50.73% of new revenues generated by the Kroger project. A city representative told the board state law prevents sharing property taxes in the rebate calculation but said new sales- and property-tax revenue from the previously vacant building will…
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