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The Economic Development Authority unanimously approved inducement and bond resolutions for Eastern Mennonite University’s revenue bond financing; the Authority and City will have no financial liability, and no funds will come from either body. The Authority also approved grants for 29 businesses through the Harrisonburg Entrepreneurship Development Initiative.
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The approved bond financing supports Eastern Mennonite University without making the Economic Development Authority or City responsible for repayment. The Authority also authorized distribution of HEDI grants to 29 businesses. Members adopted rules allowing certain remote or fully virtual meetings and elected new officers.
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