Description
Title: To authorize the Chief Administrative Officer to submit four separate applications to the Virginia Department of Housing and Community Development to (i) amend the boundaries of Enterprise Zone 19 and Enterprise Zone 28A within the city of Richmond and (ii) modify the local enterprise zone incentive package for the amended Enterprise Zones.
Summary
On April 27, 2026, the City of Richmond introduced Resolution No. 2026-R020, which authorizes the Chief Administrative Officer to submit four applications to the Virginia Department of Housing and Community Development. The purpose of these applications is twofold: to amend the boundaries of Enterprise Zones 19 and 28A and to modify the local incentive packages associated with these zones. The resolution details changes in the zone boundaries and outlines adjustments to the local enterprise zone incentives. This legislation aims to enhance economic development within Richmond by refining the support provided to businesses in these designated areas, thereby impacting local economic growth and community investment. A public hearing on the matter is scheduled for May 26, 2026.