title
To authorize the Chief Administrative Officer, for and on behalf of the City of Richmond, to accept funds in the amount of $127,032.00 from the Commonwealth's Development Opportunity Fund, to amend the Fiscal Year 2025-2026 Special Fund Budget by creating a new special fund for the Department of Economic Development entitled "PPD Special Fund," and to appropriate the increase to the Fiscal Year 2025-2026 Special Fund Budget by increasing estimated revenues and the amount appropriated to the Department of Economic Development's PPD Special Fund by $127,032.00, for the purpose of providing PPD Development L.P. with incentives to establish a bioanalytics laboratory facility at 737 North 5th Street in the city of Richmond.
body
THE CITY OF RICHMOND HEREBY ORDAINS:
? 1. That the Chief Administrative Officer, for and on behalf of the City of Richmond, is hereby authorized to accept funds in the amount of $127,032.00 from the Commonwealth's Development Opportunity Fund, for the purpose of providing PPD Development L.P. with incentives to establish a bioanalytics laboratory facility at 737 North 5th Street in the city of Richmond.
? 2. That Ordinance No. 2025-057, adopted May 12, 2025, which adopted a Special
Fund Budget for the fiscal year commencing July 1, 2025, and ending June 30, 2026, and made
appropriations pursuant thereto, be and is hereby amended by creating a new special fund for the Department of Economic Development entitled "PPD Special Fund," for the purpose of providing PPD Development L.P. with incentives to establish a bioanalytics laboratory facility at 737 North 5th Street in the city of Richmond.
? 3. That the funds received from the Commonwealth's Development Opportunity Fund are hereby appropriated to the Special Fund Budget for the fiscal year commencing July 1, 2025, and ending June 30, 2026, by increasing estimated revenues by $127,032.00, increasing the amount appropriated for expenditures by $127,032.00, and allotting to th...
Click here for full text