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Finance and Economic Development Standing Committee

July 16, 2025 ·2:00 PM Final

Council Chamber, 2nd Floor – City Hall

Agenda PDF Minutes PDF 📹 Watch video Official record ↗

Agenda — 67 items

  1. 1 Persons requesting to provide comments virtually during the public hearings or public comment period held at this meeting, must call the Office of the City Clerk at (804) 646-7955, option 3, by no later than 10:00 a.m., on Wednesday, July 16, 2025.
  2. 1 Committee Members and Other Council Members in Attendance
  3. 2 Call to Order
  4. 2 The Honorable Ellen Robertson – Chair The Honorable Nicole Jones – Vice Chair The Honorable Stephanie Lynch – Member (late arrival)
  5. 3 Chamber Emergency Evacuation Plan Announcement and Public Speaker Guidelines
  6. 3 Staff in Attendance
  7. 4 Public Comment Period
  8. 4 Tori Cotman, Assistant City Attorney Maria Garnett, Council Policy Analyst Nahdiyah Muhammad, Assistant City Clerk Pamela Nichols, Council Management Analyst Candice Reid, City Clerk
  9. 5 Approval of Minutes
  10. 6 June 18, 2025 - Finance and Economic Development Standing Committee Meeting Minutes CD.2025.220
  11. 6 Chair Ellen Robertson called the meeting to order at 2:04 p.m., and presided.
  12. 7 Paper(s) for Consideration
  13. 1. To amend City Code § 12-12, concerning the form of the budget submitted to Council, to require publication of a side-by-side comparison with the mayor’s proposed budget submission with agency-level budget request documents and to amend ch. 12, art. I of the City Code by adding therein a new section 12-25, concerning publication of agency-level budget requests, for the purpose of requiring submission of agency-level budget request documents. ORD. 2025-100 recommended for continuance
  14. 8 Upon the Chair’s request, Assistant City Clerk Nahdiyah Muhammad provided information on the appropriate way to evacuate the Council Chamber in an emergency along with public speaker guidelines.
  15. 2. To authorize the Chief Administrative Officer, for and on behalf of the City of Richmond, to accept funds in the amount of $15,733,481.00 from the United States Department of Transportation, Pipeline and Hazardous Material Safety Administration, and to amend the Fiscal Year 2025-2026 Gas Utility Budget, which appropriated the estimated receipts of the gas utility, by increasing estimated receipts and the amount appropriated for expenditures of the gas utility by $15,733,481.00, for the purpose of providing funding to repair, rehabilitate, and replace natural gas pipelines and related equipment. ORD. 2025-158 recommended for approval
  16. 3. To authorize the Chief Administrative Officer, for and on behalf of the City of Richmond, to accept funds in the amount of $39,158,844.00 from the United States Department of Transportation, Pipeline and Hazardous Material Safety Administration, and to amend the Fiscal Year 2025-2026 Gas Utility Budget, which appropriated the estimated receipts of the gas utility, by increasing estimated receipts and the amount appropriated for expenditures of the gas utility by $39,158,844.00, for the purpose of providing funding for the repair, replacement, and rehabilitation of natural gas pipelines and related equipment. ORD. 2025-159 recommended for approval
  17. 10 There were no public comment speakers.
  18. 4. To authorize the Chief Administrative Officer, for and on behalf of the City of Richmond, to execute a Performance Agreement between the City of Richmond, VPM Media Corporation, and the Economic Development Authority of the City of Richmond for the purpose of providing performance grants to VPM Media Corporation to establish, equip, and operate a new headquarters located at 13 East Broad Street in the city of Richmond. (2nd District) ORD. 2025-160 recommended for approval
  19. 5. To authorize the Chief Administrative Officer, for and on behalf of the City of Richmond, to accept funds in the amount of $2,119.00 from the United States Department of Housing and Urban Development; to amend the Fiscal Year 2024-2025 budget adopted by Ord. No. 2024-184, adopted Jul. 22, 2024, for CDBG, HOME, ESG and HOPWA funds received from the United States Department of Housing and Urban Development by recapturing Emergency Solutions Grant funds in the total amount of $50,666.00; and to amend the Fiscal Year 2025-2026 budget adopted by Ord. No. 2025-063, adopted May 12, 2025, for CDBG, HOME, ESG and HOPWA funds received from the United States Department of Housing and Urban Development by (i) allocating funds in the total amount of $31,145.00 from the ESG Undesignated Reserve; (ii) creating a new project line item in the ESG funding called “St. Joseph’s Villa”; and (iii) appropriating funds in the total amount of $83,930.00 to the new “St. Joseph’s Villa” line item for the purpose of providing funding for rapid rehousing programming. ORD. 2025-164 recommended for approval
  20. 12 There were no amendments or corrections to the meeting minutes of June 18, 2025, and the committee approved the minutes as presented.
  21. 13 Presentation(s)
  22. 14 Department of Finance Revenue Administration Update
  23. 14 Member Stephanie Lynch arrived at 2:06 p.m., and was seated.
  24. 15 July 16, 2025 - Department of Finance Revenue Administration Update CD.2025.237
  25. 16 Board Vacancies
  26. 16 Pamela Nichols, Council Management Analyst, reviewed board vacancies and applications for consideration by the committee.
  27. 17 July 16, 2025 - Finance and Economic Development Board Vacancy Report CD.2025.227
  28. 18 Discussion Item(s)
  29. 18 A copy of the material provided has been filed.
  30. 19 There were no discussion items.
  31. 19 Vice Chair Nicole Jones made a motion to continue consideration of appointment applications for vacancies on the following boards and commissions to the September 17, 2025, Finance and Economic Development Standing Committee meeting: Board of Directors of the Economic Development Authority and the Participatory Budgeting Steering Commission, and to continue consideration of the Local Finance Board for Other Post-Employment Benefits (OPEB) Board reappointment application to the October 15, 2025, Finance and Economic Development Standing Committee meeting, which was seconded and unanimously approved.
  32. 20 Staff Report
  33. 20 Vice Chair Nicole Jones moved to forward the following reappointment application to Council with a recommendation to approve, which was seconded and unanimously approved:
  34. 21 Richmond Retirement System: Carlin Gibson, Jr. (reappointment)
  35. 23 The following ordinance was considered:
  36. 25 The committee discussed continuing Ord. 2025-100 to the September 17, 2025, Finance and Economic Development Standing Committee meeting, to allow for further development.
  37. 26 Member Lynch stated her concerns regarding continuing the proposed ordinance citing that it would not allow city administration the time to comply with the proposed ordinance by January 15, 2026.
  38. 27 Meghan Brown, Director of Budget and Strategic Planning, provided the committee with additional information regarding the proposed ordinance. Director Brown stated that city administration can not provide a timeline for when city administration would be able to implement the proposed ordinance.
  39. 28 Chair Ellen Robertson stated that continuing the proposed ordinance would allow for further discussion a part of the task force.
  40. 29 The committee continued to discuss the proposed ordinance.
  41. 30 There were no further comments or discussions, and Vice Chair Nicole Jones moved to continue ORD. 2025-100, to the September 17, 2025, Finance and Economic Development Standing Committee meeting, which was seconded and unanimously approved.
  42. 31 The following ordinances were considered:
  43. 34 Dan Rifenburgh, Director of Richmond Gas Works for the Department of Public Utilities, provided an introduction and additional background information regarding the proposed ordinances. Mr. Rifenburgh stated that the proposed ordinances will allow the city to receive grants from the Pipeline and Hazardous Materials Safety Administration (PHMSA) to replace gas mains. Mr. Rifenburgh also stated that the grant will be a full dollar amount match after the reimbursement is granted.
  44. 35 There were no comments or discussions and Member Stephanie Lynch moved to forward ORD. 2025-158 and ORD. 2025-159 to Council with the recommendation to approve, which was seconded and unanimously approved.
  45. 36 The following ordinance was considered:
  46. 38 Amanda Wrinkle, Director of Federal Entitlement Programs for the Department of Housing and Community Development, provided an introduction and additional background information regarding the proposed ordinance. Ms. Wrinkle stated that the proposed ordinance will reallocate unused funding from HomeAgain, with a combination of funds that were unawarded for the FY26 Budget. Ms. Wrinkle stated that the funds will be awarded to St. Joseph's Villa for a rapid re-housing program.
  47. 39 There were no comments or discussions and Member Stephanie Lynch moved to forward ORD. 2025-164 to Council with the recommendation to approve, which was seconded and unanimously approved.
  48. 40 The following ordinance was considered:
  49. 42 Katie McConnell, Deputy Director of the Department of Economic Development, provided an introduction and additional background information regarding the proposed ordinance. Ms. McConnell stated that the proposed ordinance represents a $65,000,000 Capital investment that will bring 70 new jobs to the city. Ms. McConnell also provided the committee with development goals of the VPM.
  50. 43 The committee requested the following regarding the proposed ordinance: • Projected timeline of development and operation • Performance grant agreement delay • Performance short-fall template • Jobs produced from performance grant agreement
  51. 44 Jayme Swain, President and Chief Executive Officer (CEO) of VPM and the Virginia Foundation of Public Media, responded that VPM anticipates opening up the new headquarters in June 2026, and beginning the lease July 2026. CEO Swain stated that VPM started with a different process by going through the General Assembly, but due to a change in laws regarding rent abatements, VPM went through the city to receive a performance grant agreement.
  52. 45 Ms. McConnell stated that the proposed ordinance has a template showing annual profit, capital investment, jobs, report of community commitments and back-up documentation to show that performance metrics have been met.
  53. 46 CEO Swain responded that the 70 jobs stated in the performance grant are jobs that are new to Richmond but not VPM, and will transfer over from their current headquarters in Chesterfield County.
  54. 47 The committee expressed support of the proposed ordinance and its appreciation for the work that VPM has done for the community.
  55. 48 CEO Swain further discussed the proposed ordinance with the committee.
  56. 49 Public Hearing
  57. 50 Nupa Agarwal, Chair-Elect of the Economic Development Authority and VPM Board Member, spoke in support of ORD. 2025-160 and stated that the proposed ordinance will bring residents more opportunities for community engagement.
  58. 51 There were no further comments or discussions and Member Stephanie Lynch moved to forward ORD. 2025-160 to Council with the recommendation to approve, which was seconded and unanimously approved.
  59. 54 Shelia White, Director of Finance, presented the committee with a Department of Finance revenue administration updates regarding real estate mailing remediation, modernization efforts, consultant's report, personal property improvements, business portal and customer service improvements.
  60. 55 The committee expressed appreciation to Director White for her leadership within the Department of Finance and the improvements that she has made within the department. The committee stated that there is still work to be done and that questions of the status of the department will be provided to Ms. White before she leaves city service.
  61. 57 A copy of the material provided has been filed.
  62. 59 The committee discussed the cancellation of the August committee meeting. It was the consensus of the committee to cancel the August Finance and Economic Development Standing Committee meeting.
  63. 61 Council staff provided the committee with the July Finance and Economic Development staff report.
  64. 62 July 16, 2025 - Finance and Economic Development Staff Report CD.2025.239
  65. 63 A copy of the material provided has been filed.
  66. 64 Adjournment
  67. 65 There being no further business, the meeting adjourned at 3:18 p.m.