“With this amount, how many students are robbed of attending VCU in scholarships? Most importantly, what actions are being taken to ensure that enormous wastes like these are prevented in the future?” Wilder said in Tuesday’s press conference.
VCU Health revealed the payment Friday in response to a FOIA request from BizSense. The payment let the health system back out of the project and the 25-year lease it signed months into the pandemic.
Local engineering giant Timmons Group plans to relocate its corporate headquarters to Springline at District 60, where it is donning its developer cap for the first time.
The project’s expanded tax increment financing area includes multiple properties owned by Thalhimer Realty Partners, the local firm that’s helping lead the $2.4 billion mixed-use development.
Richmond’s proposed budget is up for potential adoption, Henrico adopts its budget plan, and townhomes and apartments are proposed in the county.
The payment was quietly made to Project 10th Street Owner LLC, tied to Oak Street Real Estate Capital, which was handling financing for the project for developer Capital City Partners.
The review comes two years after the city opened the door to using eminent domain to secure privately owned land for its planned Shockoe Bottom Heritage Campus.
The 55 lots in the Southside neighborhood were awarded for housing development in 2019, but have yet to be transferred. Dozens more remain in the queue.
The expansion would extend historic tax credit eligibility to several industrial properties along Hermitage Road to the south and east of the Diamond District.
Items tied to the Diamond District make the rounds in City Hall, a slavery museum location study could lead to property acquisition, and a dozen candidates vie for two seats on the Hanover School Board. (BizSense Pro subscription required)
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