EDA Considers Renewing REDCO Loan Underwriting Agreement

The Economic Development Authority is considering renewing a professional services agreement with Rappahannock Economic Development Corporation for EDA Loan Program support. REDCO would provide loan processing and underwriting services for $1 per year over a two-year term, subject to 30 days’ notice of termination.

Document date · September 14, 2026

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Scope & details

The full contract record, as filed.

Contract amount

$1.00 per year

Contract type

PROFESSIONAL_SERVICES

Contract term

Two years from the date of the agreement; either party may terminate with 30 days' written notice without penalty

Renewal

Agreement renewal proposed for September 2026. Initial term expires two years from the agreement date, with termination available to either party upon 30 days' written notice without penalty.

Document type

AgendaPacket

Source document

Economic Development Authority of the City of Fredericksburg AgendaPacket Regular Meeting 2026-09-14

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the professional services contract by City of Fredericksburg?

Rappahannock Economic Development Corporation ("redco") was awarded this professional services contract by City of Fredericksburg, as recorded on September 14, 2026. The contract value is $1.00 per year.

How much is the Rappahannock Economic Development Corporation ("redco") contract with City of Fredericksburg worth?

The Rappahannock Economic Development Corporation ("redco") contract with City of Fredericksburg is valued at $1.00 per year, covering professional services work.

What type of contract is this?

This is a Professional Services contract, documented as a agendapacket record.

Where was this contract approved?

This contract appears in Economic Development Authority of the City of Fredericksburg AgendaPacket Regular Meeting 2026-09-14 (AgendaPacket), dated September 14, 2026 from City of Fredericksburg. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Rappahannock Economic Development Corporation ("redco") hold?

Rappahannock Economic Development Corporation ("redco") may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View Rappahannock Economic Development Corporation ("redco")'s profile

What is City of Fredericksburg currently buying?

Explore City of Fredericksburg's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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