City of Fredericksburg Agenda Packet 2026-06-09
City Approves $4.26M Incentive for 2300 Fall Hill Project
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Description
Fredericksburg City Council approved a 10-year economic incentive agreement valued at $4.26 million in tax abatements with 2300 Fall Hill Partners, L.L.C. for redevelopment of the former Mary Washington Hospital. The project prioritizes affordable and workforce housing and adaptive historic reuse.
Contract Details
Contract Amount
Estimated $4,264,668 in incentives over 10 years (tax abatement value); Project investment: $66,000,000+
Vendor
2300 FALL HILL PARTNERS LLC
Agency
City of Fredericksburg, VA
Contract Type
OTHER
Document Date
June 9, 2026
Contract Term
10 years (abatement structure)
Renewal Date
2036-06-09
Renewal Info
Incentive is a defined 10-year structure; abatement phases out per agreement terms.
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