Finance and Economic Development Standing Committee
Council Chamber, 2nd Floor – City Hall
Agenda — 91 items
- 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, March 19, 2025.
- 1 Committee Members in Attendance
- 2 Call to Order
- 2 The Honorable Ellen Robertson – Chair The Honorable Nicole Jones – Vice Chair The Honorable Stephanie Lynch – Member (late arrival)
- 3 Chamber Emergency Evacuation Plan Announcement and Public Speaker Guidelines
- 3 Staff in Attendance
- 4 Public Comment Period
- 4 Tori Cotman, Assistant City Attorney Laura Drewry, City Attorney Nahdiyah Muhammad, Assistant City Clerk Will Perkins, Senior Council Legislative Services Manager Candice Reid, City Clerk RJ Warren, Deputy City Clerk
- 5 Approval of Minutes
- 6 January 16, 2025 - Finance and Economic Development Standing Committee Meeting Minutes
- 6 Chair Ellen Robertson called the meeting to order at 2:05 p.m., and presided.
- 7 Paper(s) for Consideration
- 1. To authorize the Chief Administrative Officer, for and on behalf of the City of Richmond, to accept funds in the amount of $1,495,548.00 from the Virginia Department of Conservation and Recreation and to amend Ord. No. 2024-099, adopted May 13, 2024, which adopted the Fiscal Year 2024-2025 Stormwater Utility Budget and appropriated the estimated receipts of the stormwater utility, by increasing estimated revenues and the amount appropriated to the stormwater utility by $1,495,548.00 for the purpose of funding the modernization of the City’s stormwater asset inventory.
- 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.
- 2. To authorize the Chief Administrative Officer, for and on behalf of the City of Richmond, to accept funds in the amount of $371,232.00 from the Virginia Transit Association and to appropriate the increase to the Fiscal Year 2024-2025 Special Fund Budget by increasing estimated revenues and the amount appropriated to the Department of Public Works’ Shared Mobility Special fund by $371,232.00 for the purpose of funding a Free Rides to Work program.
- 3. To authorize the Chief Administrative Officer, for and on behalf of the City of Richmond, to execute a Cooperation Agreement between the City of Richmond and the Virginia Transit Association for the purpose of funding a Free Rides to Work program.
- 10 There were no public comment speakers.
- 4. To amend Ord. No. 2021-079, adopted Apr. 12, 2021, which authorized the Chief Administrative Officer to accept funds in the amount of $150,000.00 from the Virginia Outdoors Foundation; amended the Fiscal Year 2020-2021 Special Fund Budget by creating a new special fund for the Department of Parks, Recreation and Community Facilities called the Bellemeade Park Outdoor Educational Classroom Facility Special Fund; and appropriated the grant funds received to the Fiscal Year 2020-2021 Special Fund Budget by increasing estimated revenues and the amount appropriated to the new Department of Parks, Recreation and Community Facilities’ Bellemeade Park Outdoor Educational Classroom Facility Special Fund by $150,000.00 for the purpose of funding the design, permitting, and construction of an outdoor classroom at Bellemeade Park located at 1800 Krouse Street in the city of Richmond, to change the permitted use of the grant funds and modify the name of the special fund to which the grant funds are appropriated.
- 5. To amend Ord. No. 2024-193, adopted Jul. 22, 2024, which authorized the Chief Administrative Officer, for and on behalf of the City of Richmond, to execute a Grant Agreement between the City of Richmond, Swansboro Place, LLC, and the Economic Development Authority of the City of Richmond for the purpose of facilitating the construction of an affordable housing development located at 2008 Hull Street, for the purpose of modifying the location of the affordable housing development to include 2021 Decatur Street. (8th District)
- 12 There were no amendments or corrections to the meeting minutes of January 16, 2025, and the committee approved the minutes as presented.
- 6. To amend Ord. No. 2024-231, adopted Sept. 23, 2024, which authorized the Chief Administrative Officer, for and on behalf of the City of Richmond, to execute a Grant Agreement between the City of Richmond, Commonwealth Catholic Charities Housing Corporation, and the Economic Development Authority of the City of Richmond for the purpose of facilitating the construction of an affordable residential development located at 1031 Fourqurean Lane, for the purpose of modifying the location of the affordable housing development to include 1111 Fourqurean Lane. (6th District)
- 7. To authorize the Chief Administrative Officer, for and on behalf of the City of Richmond, to execute a Grant Agreement between the City of Richmond, Refuge Apartments, LP, and the Economic Development Authority of the City of Richmond for the purpose of facilitating the construction of an affordable housing development located at 5015 Snead Road, 5009 Rear Snead Road, and 5015 Rear Snead Road, or a site resulting from any such consolidation of the aforementioned parcels. (9th District)
- 14 Presentation(s)
- 8. To authorize the Chief Administrative Officer to accept funds in the amount of $2,000,000.00 from the United States Department of Transportation, to amend the Fiscal Year 2024-2025 Special Fund budget by creating a new special fund for the Department of General Services called the “Build America Bureau Special Fund,” and to appropriate the increase to the Fiscal Year 2024-2025 Special Fund Budget by increasing estimated revenues and the amount appropriated to the Department of General Services’ “Build America Bureau Special Fund” by $2,000,000.00, for the purpose of funding the programmatic assessment of City assets and properties for the redevelopment of the City’s downtown transportation infrastructure.
- 9. To authorize the Chief Administrative Officer, for and on behalf of the City of Richmond, to execute a Grant Agreement between the City of Richmond, 1903 Semmes LLC, and the Economic Development Authority of the City of Richmond for the purpose of facilitating the construction of an affordable housing development located at 1903 Semmes Avenue and 1905 Semmes Avenue. (5th District)
- 16 Jennifer Wakefield, President & CEO of Greater Richmond Partnership (GRP), presented the committee with information concerning regional competitiveness.
- 10. To authorize the Chief Administrative Officer, for and on behalf of the City of Richmond, to execute a Grant Agreement between the City of Richmond, 809 Oliver Hill Way LLC, and the Economic Development Authority of the City of Richmond for the purpose of facilitating the construction of an affordable housing development located at 809 Oliver Hill Way. (6th District)
- 11. To express the concurrence of the Council with the inducement resolution adopted by the Economic Development Authority of Henrico County and to approve the issuance of revenue bonds in an amount not to exceed $15,000,000 for the benefit of Bon Secours Mercy Health, Inc. and Richmond Community Hospital.
- 18 A copy of the material provided has been filed.
- 19 Presentation(s)
- 19 Chair Ellen Robertson asked Ms. Wakefield for a breakdown of the specific data for each of the four localities referenced in the presentation.
- 20 Regional Competitiveness
- 20 Ms. Wakefield stated that an analysis was provided on a quarterly basis to Local Economic Development Officers (LEDO's) of GRP. Ms. Wakefield also stated that GRP met on a monthly basis with local partners to review each project. Ms. Wakefield further stated that CoStar data could be reviewed for additional insight.
- 21 March 19, 2025 - Regional Competitiveness Presentation
- 21 Chair Robertson stated that she wanted to review the diversification of the city's sources of revenue. Chair Robertson asked for GRP to be open to having more conversations with city administration regarding identifying potential growth opportunities for the city and necessary strategies.
- 22 Federal Funding Update
- 22 Paper(s) for Consideration
- 23 March 19, 2025 - Federal Funding Analysis Memorandum
- 23 The following ordinances were considered:
- 24 March 19, 2025 - Summary of Federal Financial Assistance
- 25 Board Vacancies
- 26 There were no board vacancies.
- 26 Dironna Moore Clarke, Department of Public Works (DPW) Deputy Director of the Office of Equitable Transit and Mobility, provided an introduction and additional background information regarding the proposed ordinances.
- 27 Discussion Item(s)
- 27 There were no comments or discussions and Vice Chair Nicole Jones moved to forward ORD. 2025-027 and ORD. 2025-028 to Council with the recommendation to approve, which was seconded and approved: Ayes 2, Jones, Robertson. Noes None.
- 28 There were no discussion items.
- 28 Vice Chair Nicole Jones moved to continue the following ordinance to the April 16, 2025, Finance and Economic Development Standing Committee meeting.
- 29 Staff Report
- 30 The motion was seconded and approved: Ayes 2, Jones, Robertson. Noes None.
- 31 The following ordinances were considered:
- 36 Michelle Brown Peters, Deputy Director for Housing and Community Development, provided an introduction and additional background information regarding the proposed ordinances.
- 37 Chair Ellen Robertson asked about the number of units that would be constructed and the area median income (AMI) for ORD. 2025-031.
- 38 Michelle Brown Peters stated there would be a total of 56 units, 28 units with an AMI of 0%-50% and the remaining 28 units at an AMI of 50%-80%.
- 39 There were no further comments or discussions and Vice Chair Nicole Jones moved to forward ORD. 2025-030, ORD. 2025-031, ORD. 2025-042 and ORD. 2025-043 to Council with the recommendation to approve, which was seconded and approved: Ayes 2, Jones, Robertson. Noes None.
- 40 The following ordinance was considered:
- 42 Bill Boston, Capital Improvement Program Manager for the Department of Public Utilities, provided an introduction and additional background information regarding the proposed ordinance.
- 43 Chair Ellen Robertson asked why ORD. 2025-026 does not include the 6th District.
- 44 Bill Boston stated that neighborhoods in the 8th and 9th Districts had been hit the hardest. Mr. Boston also stated there were projects in the 6th district, such as green infrastructure and green streets projects in the Bellmeade neighborhood to address flooding.
- 45 Chair Robertson stated that the 8th and 9th Districts were not the only districts that extend south of the river, and including all Southside districts would help address concerns that residents faced. Chair Robertson requested additional information regarding all stormwater projects in the 6th District.
- 46 Vice Chair Jones stated the committee would benefit from knowing all of the stormwater projects planned for Southside.
- 47 Mr. Boston continued to discuss the proposed ordinance with the committee.
- 48 There were no further comments or discussions and Vice Chair Nicole Jones moved to forward ORD. 2025-026 to Council with the recommendation to approve, which was seconded and approved: Ayes 2, Jones, Robertson. Noes None.
- 49 The following ordinance was considered:
- 51 Deborah Morton, Deputy Director for Parks, Recreation and Community Facilities, provided an introduction and additional background information regarding the proposed ordinance.
- 52 There were no comments or discussions and Vice Chair Nicole Jones moved to forward ORD. 2025-029 to Council with the recommendation to approve, which was seconded and approved: Ayes 2, Jones, Robertson. Noes None.
- 53 The following ordinance was considered:
- 55 Gail Johnson, Director of General Services, provided an introduction and additional background information regarding the proposed ordinance.
- 56 Chair Ellen Robertson requested for Council staff to collaborate with the Department of General Services to develop a plan of action for the redevelopment of the downtown area.
- 57 There were no further comments or discussions and Vice Chair Nicole Jones moved to forward ORD. 2025-033 to Council with the recommendation to approve, which was seconded and approved: Ayes 2, Jones, Robertson. Noes None.
- 58 The following resolution was considered:
- 60 Katie McConnell, Deputy Director of the Department of Economic Development, provided an introduction and additional background information regarding the proposed resolution.
- 61 There were no comments or discussions and Vice Chair Nicole Jones moved to forward RES. 2025-R013 to Council with the recommendation to approve, which was seconded and approved: Ayes 2, Jones, Robertson. Noes None.
- 62 page break
- 65 Maggie Anderson, Director of Intergovernmental Affairs, presented the committee with a federal funding update.
- 68 A copy of the materials provided has been filed.
- 69 Member Stephanie Lynch arrived at 3:02 p.m., and was seated.
- 70 Member Stephanie Lynch asked what areas of public services were that would experience negative impacts if federal funding was reduced or eliminated.
- 71 Maggie Anderson stated that the departments that would face the greatest loss due to lack of federal funding would be the Department of Social Services (DSS) and Housing and Community Development. Ms. Anderson stated that the Full-Year Continuing Appropriations of Extension Act, 2025, would continue to fund the current fiscal year.
- 72 Chair Ellen Robertson asked how city administration would prepare for federal funding shortfalls.
- 73 Ms. Anderson stated that city administration would monitor the Department of Social Services (DSS) and Housing and Community Development, should the departments face any significant funding reduction. Ms. Anderson also stated that due to the reduction in the federal workforce, the process to receive federal funding could potentially take longer.
- 74 Chair Robertson requested city administration to reach out to legislators and departments that would be most impacted by a reduction in federal funding to determine the proper course of action.
- 75 Vice Chair Nicole Jones asked about committed American Rescue Plan Act (ARPA) funding.
- 76 Sabrina Joy-Hogg, Interim Chief Administrative Officer (CAO), stated that the remaining $40,000-$50,000 of ARPA funding would show in the federal system as obligated, and that the city had possession of all obligated ARPA funding. Interim CAO Joy-Hogg also stated that City Council had received the full report of ARPA funding.
- 77 Member Lynch asked about the potential for the federal government to conduct an audit of federal ARPA funding.
- 78 Meghan Brown, Director of Budget and Strategic Planning, stated that the city's use of ARPA funding was in full compliance per an internal audit.
- 79 Ms. Anderson and city administration continued to discuss the federal funding update with the committee.
- 85 Council staff provided the committee with the March Finance and Economic Development staff report.
- 86 March 19, 2025 - Finance and Economic Development Staff Report
- 87 A copy of the material provided has been filed.
- 88 Adjournment
- 89 There being no further business, the meeting adjourned at 3:28 p.m.