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What does concession mean in this context?

Asked by chelle21689 (7907points) January 25th, 2019

“10 years ago our redevelopment authority scrambled to attract business, offering to assemble land at the low cost and taxes. With the regional economic boom the city now can demand concessions from developers rather than the other way around.”

I know if you give concession, you are giving up something for someone. I have a hard time understanding this word in its use though.

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