BizSense Pro

French tax credit records raise red flags

State records obtained by Richmond BizSense show that developer Justin French has received an unusually large amount of tax credits for renovating historic buildings. Several contractors said that the rehab costs reported by French in his tax credit applications are close to double the typical range.

Body blow for PE fund

A Richmond-based private equity fund lost more than half its value when a Florida bank hit the skids. But the fund’s managers and at least one investor remain hopeful that other investments will more than recoup those losses.

Local credit union reaches $2 billion in assets

An 82-year-old credit union reached and surpassed the $2 billion asset threshold during the second quarter and in the process became the third largest credit union in the state.