[{"_1":2,"_111":-5,"_112":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,75,87,99],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},"mediaId",6485406,"mediaKeyId","5777975-3ffaec6dbef4d3fd99bbfb4c4edbae88","parentId",5777975,"title","Economic development staff: Diamond District stadium on track for early 2026 opening; mixed-use buildout to continue through 2032","audioSeconds",295,"startMs",7505000,"endMs",7800000,"viewUrl","/Search/View?dp=1&key=5777975-3ffaec6dbef4d3fd99bbfb4c4edbae88&start=7505&end=7800","thumbnailUrl","https://assets.pipeline.soar.com/5777975-3ffaec6dbef4d3fd99bbfb4c4edbae88/thumbnail_7505000.jpg","articleUrl","/articles/6485406/Richmond-City-Independent-City/Virginia/Economic-development-staff-Diamond-District-stadium-on-track-for-early-2026-opening-mixed-use-buildout-to-continue-through-2032","mediaUrl","https://secure.pipeline.soar.com/6485406-1813a5afbfa904e7c265774fd5c66042/orig.mp4?Expires=1770553296&Signature=BGCKhcFzKMEcaPrU~~GBNAduxL3psPc4exUgaOXcHu~mCsz~6g3-Z9VREWk~sJkehfQ6EqdlFjXauElmAuFFJMh3dPRvH2lYSn5m46R6uRYttIlrd~htXF58Z2nsm7fIj5Gq5UTyZa5ZrKnfwHIErnlF9l3p8Mxy~7G8Jkw5SnuuQ5ehdAVqeU3zB5wuGByI0PteCw7JsC4y5L2xGwvZPtgywRcyvXcg6Aj4AS5~TG98lWzbZPud~6zbX8I5G0UkGmYdmFZ935nqcG1dE6e-ycSQEciijwV~KbmPPCIELc-pgXpD~ktrTPJCqfM8hJoWmANYqLhYYzhnC6bHfM-Zlw__&Key-Pair-Id=KUT5TJCACFTXG","author","Richmond City","date","2025-09-17T00:00:00Z","article","City economic development staff told the Finance and Economic Development Standing Committee that construction of the new Diamond District stadium remains on schedule and on budget, and that associated infrastructure and mixed‑use development work will continue for several years.

Key points from the presentation:
- Public vs. private investment: The public portion of the project (infrastructure, roadways, stadium-related public works and community amenities) totals about $166 million across roughly 20 acres, while mixed-use elements (retail, hotel, affordable and market-rate housing, office) are privately financed.
- Stadium progress and financing: City partners have issued just over $130 million in stadium bonds as of September 2025 and spent approximately $77 million to date. Staff said steel topping and concrete pour milestones are complete and the stadium remains on track for substantial completion in February 2026.
- Infrastructure and critical path: Road B and Road J West infrastructure work has started and is expected to complete early next year; additional road and signal work (Road J East, Roads A and C) is slated for 2026. Staff identified acquisition and disposition of the Sportsbacker Stadium parcel and its demolition as a critical path item for the mixed-use phase and park delivery.
- Solar and community amenities: Plans include more than 2,000 rooftop solar panels and five solar carports; at peak output, staff said the array could generate the equivalent power for about 250 Richmond homes or businesses. Park and other community amenities are expected to open in stages beginning in 2027, contingent on site demolition and infrastructure milestones.
- MBE participation and workforce: Reporting provided by development partners shows about 26% of mixed‑use contracting awarded to MBEs and about 9.6% on the stadium to date; spend-to-date was reported as roughly 39% MBE on mixed-use and 8% on the stadium. Staff cautioned OMBD has not yet certified those numbers and noted the city’s disparity study suggests a reasonable near-term stadium MBE target around 18%. Hiring events tied to the project engaged roughly 400 residents, producing 14 local hires to date.
- Operational issues resolved: Staff reported a resolution between developers and RVA Performance Fitness on a sewer-related dispute that staff said will improve that business’s operations.

Staff said vertical mixed‑use construction is expected to start in 2026 with deliveries of certain buildings beginning in 2028 and continuing through 2032, depending on financing and market timing. The presentation included aerial construction photos and a summary timeline of anticipated milestones.

Next steps: Staff said it will continue coordination on infrastructure funding options to close remaining gaps (CIP funds, regional grants) and will work with OMBD to reconcile and certify MBE contracting and spend figures.

Ending: Committee members expressed interest in more detailed return-on-investment analyses and stronger planning for local hiring and neighborhood benefits as the mixed‑use phase progresses.","mediaType","Video","parentTitle","Richmond City - Finance & Economic Development Standing Committee Meeting - September 17, 2025, at 2:00 P.M.","oneSentenceSummary","Economic development staff told the finance committee the new stadium in the Diamond District remains on schedule for substantial completion in February 2026, while infrastructure and mixed‑use development will continue through the early 2030s.","taxTitle","Richmond City (Independent City), Virginia","taxId",5755,"location","headline","","shortSummary",{"_33":76,"_35":36,"_37":38,"_39":77,"_41":78,"_43":79,"_45":80,"_47":81,"_49":82,"_51":83,"_53":84,"_55":56,"_57":58,"_59":85,"_61":62,"_63":64,"_65":86,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6485411,"Committee endorses release of 2023 disparity study, asks OMBD to implement recommendations",225,1023000,1248000,"/Search/View?dp=1&key=5777975-3ffaec6dbef4d3fd99bbfb4c4edbae88&start=1023&end=1248","https://assets.pipeline.soar.com/5777975-3ffaec6dbef4d3fd99bbfb4c4edbae88/thumbnail_1023000.jpg","/articles/6485411/Richmond-City-Independent-City/Virginia/Committee-endorses-release-of-2023-disparity-study-asks-OMBD-to-implement-recommendations","https://secure.pipeline.soar.com/6485411-d09d200d315b8f6c0208c29e89e0aa7c/orig.mp4?Expires=1770553296&Signature=P9HfTvdqZJI56Ry~SDtRXhHzsK1vpcagVXhfRBUfu8KC8IYOkXWvnmDXWxd75-571P9J0oMOKXbpzybWughvOnuhgDbLr~eheQzYauiu~kD7w38D-gA8183RL0xS8LCufPeLpuf484z6cvkQF70iZjOKEuwrF9ehhM86IoJNpT22pgQ-FCFs~OrYn~NghJYyqETg2yk2mg0K0PO2M5kBBBpBOEmijB~jxU6btcXD4D9w44Il9UQI1Vy66yC8dwaCuwHe62V7yu99f6lBBhEa~e2NfqWEtBlvOeLrb5f8RdKzRmPAiBcbIvbL-qUQmwt~YF5GyR8d9w9fg8vpASCi0w__&Key-Pair-Id=KUT5TJCACFTXG","The Richmond City Finance and Economic Development Standing Committee voted to forward resolution 20250 R40 to full council with a recommendation to approve. The resolution expresses council’s acceptance of the findings of the city’s 2023 minority business enterprise (MBE) disparity study and asks the Office of Minority Business Development (OMBD) to develop and implement a plan based on the study’s recommendations, and to conduct comprehensive disparity studies every five years beginning in fiscal year 2026–27.

Pat Foster, director of the Office of Minority Business Development, told the committee the study quantified the size of disparities in city procurement and provided a roadmap to closing gaps. \"The study did not tell us anything we didn't already know about the existence of disparities,\" Foster said, \"but it did tell us how big the gap is and what steps could close it.\"

Two business leaders offered public support during the hearing. Carol Reese said the study provides an important map for fixing procurement disparities and addressing harms suffered by minority-owned businesses. Morris Cephas, president of Cephas Next Inc., said he had met with the CAO and staff and urged council to adopt the resolution and implement corrective measures.

Committee action: The committee voted to forward resolution 20250 R40 to full council with a recommendation to approve. Recorded votes included Vice Chair Jones and Chair Robertson voting aye.

Next steps: OMBD will prepare an implementation plan based on the study’s recommendations and return to council with proposed actions and, per the resolution, a schedule for five-year updates to the study.","The finance committee voted to forward a resolution accepting the findings of a 2023 minority business enterprise disparity study and requesting that the Office of Minority Business Development develop and implement an action plan and conduct new disparity studies every five years beginning FY26–27.",{"_33":88,"_35":36,"_37":38,"_39":89,"_41":90,"_43":91,"_45":92,"_47":93,"_49":94,"_51":95,"_53":96,"_55":56,"_57":58,"_59":97,"_61":62,"_63":64,"_65":98,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6485416,"Committee forwards multiple budget and program ordinances to full council",706,275000,981000,"/Search/View?dp=1&key=5777975-3ffaec6dbef4d3fd99bbfb4c4edbae88&start=275&end=981","https://assets.pipeline.soar.com/5777975-3ffaec6dbef4d3fd99bbfb4c4edbae88/thumbnail_275000.jpg","/articles/6485416/Richmond-City-Independent-City/Virginia/Committee-forwards-multiple-budget-and-program-ordinances-to-full-council","https://secure.pipeline.soar.com/6485416-0c264c32b638d10e40dfa38c47290468/orig.mp4?Expires=1770553296&Signature=SWMzBHyCeMw~H3xX4Vv3D6E0v9nrrjTW6zDVlAAb6x2A7IcVrSE6FP5J~gmfsa~J4sMPiPO74aflEmf-JRBagXCNnMxdvOP3WXqKBpG-rl-z3DDCrdZH-Ggghw7uoAdTzOVA9mhYqkXyo9nxz5AybLkdAmbZ7Xqhfw-LunqhVj1sFCbuCY4G5bWwKkHpRaX7d08Q3MbastaNuibXy9a4mXuFU02iLmxK3--2Q~~VXQqsV4-ILfEAii2KWk7b~srl~AgA03cJ00Zqhi0roI-EPBZkSoUiMOG-TuI2w2m1iMFaa1vpe5uvzNrQKkqwz-ozd9hAiiufnR2-AfDYoM~HDg__&Key-Pair-Id=KUT5TJCACFTXG","The Richmond City Finance and Economic Development Standing Committee advanced multiple budget- and program-related ordinances to the full City Council on Thursday, forwarding most with recommendations to approve.

Items forwarded included:
- Ordinance 2025201 87: approval of the fiscal year 2026 work plan and budget for the downtown special service and assessment districts — forwarded with a recommendation to approve.
- Ordinance 2025204: an amendment and extension of a project period with the National Recreation and Park Association to continue the Mentoring Opportunities for Youth Initiative (supporting the We Matter program) — forwarded with a recommendation to approve. Chris Froelke, director of Parks, Recreation and Community Facilities, said federal funding pauses in January delayed spending and the association extended the grant to allow the city to expend the funds.
- Ordinance 2025205: acceptance of $125,000 from the Virginia Department of Criminal Justice Services and an amendment to the FY25–26 special fund budget to support the Help Me Help You program — forwarded with a recommendation to approve.
- Ordinance 2025206: creation of a disposable plastic bag tax special fund and appropriation of an estimated $200,000 in revenue for local cleanups, education and distribution of reusable bags to SNAP and WIC recipients. Laura Thomas, director of the Office of Sustainability, said the estimate used per-capita rates from other Virginia localities and that funds would be used to hire program staff and run allowed programs under state statute.
- Ordinance 2025100: an amendment to City Code to require a public side-by-side comparison of the mayor’s proposed budget with agency-level budget request documents — the committee forwarded the ordinance to full council with no recommendation; members noted a separate budget process and task-force recommendation to wait until the new process is implemented.

Most of the budget items had no public speakers during their hearings; the committee heard a brief administration presentation for the NRPA grant extension and a summary from the Office of Sustainability for the plastic bag fund.

Votes and outcomes: The committee recorded aye votes and recommended approval for the downtown special service district budget, the NRPA grant extension, the VDCS $125,000 award, and the disposable bag tax fund ordinance. The side-by-side budget publication ordinance was forwarded with no committee recommendation after members referenced a task force's prior recommendation to delay implementation until after the city’s new budget process is tested.

Next steps: Each ordinance will appear on the council agenda for final consideration. The administration said staff will provide additional materials and context to the full council as requested.","The committee forwarded several budget- and program-related ordinances — including downtown special service district budget, grant amendments and a new disposable bag tax special fund — to full council, mostly with recommendations to approve.",{"_33":100,"_35":36,"_37":38,"_39":101,"_41":102,"_43":103,"_45":104,"_47":105,"_49":106,"_51":107,"_53":108,"_55":56,"_57":58,"_59":109,"_61":62,"_63":64,"_65":110,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6485420,"Finance committee recommends $1.20 property tax rate, forwards $1.16 proposal with no recommendation",4234,1266000,5500000,"/Search/View?dp=1&key=5777975-3ffaec6dbef4d3fd99bbfb4c4edbae88&start=1266&end=5500","https://assets.pipeline.soar.com/5777975-3ffaec6dbef4d3fd99bbfb4c4edbae88/thumbnail_1266000.jpg","/articles/6485420/Richmond-City-Independent-City/Virginia/Finance-committee-recommends-120-property-tax-rate-forwards-116-proposal-with-no-recommendation","https://secure.pipeline.soar.com/6485420-110129d66cac49499db84ed981d6df87/orig.mp4?Expires=1770553296&Signature=HAgcDKwyh1KTejuBJeBDfPUpHIO7Yw1ssttM1R0TybAAlRCyFxUzXcrROTZT2lvEUlBsDjzzeu2KnguvS5fEbAbB1A1EwfdyVBn8haf5x7cC5v67jGkHd4THFCxpD4GsZ32Gn3dQRAM8vbESMnpxg5ts5ab-V-0AiQGly~6EPxSOZ8nPkIo6WnqpLo4ql9Qcmf5M46YbiUDgDv3rrD~dpD0HRD9iF7E8GLy7eJUS5kuta0rJ-myN3K3B-HY3F4lMpBUPNBHfObAZtw6koq5~s3INBXcmDuvshSlPjMqkQJOTD9dX2PSUDAtWXsIWKfvVpm-A5XoVpIIyh1LCd3EtAQ__&Key-Pair-Id=KUT5TJCACFTXG","The Richmond City Finance and Economic Development Standing Committee on an administrative motion voted to forward the mayor’s proposed $1.20 per $100 of assessed value property tax rate to full council with a recommendation to approve and to forward a separate proposal to set the rate at $1.16 with no committee recommendation.

The committee's action follows a joint public hearing on two rival ordinances — ordinance 2025207 to set the rate at $1.20 and ordinance 2025208 to set the rate at $1.16 — that drew a mix of public commenters, including union representatives and neighborhood residents who urged different outcomes.

Why it matters: The committee and city administration said the budget adopted by council was built around the $1.20 rate, and reducing the rate would shrink the revenue base used to pay for city services, collective bargaining commitments, capital projects and reserves. The administration told the committee that one penny of the rate represents about $4.3 million in revenue; moving from $1.20 to $1.16, the administration estimated, would remove roughly $17.3 million from the budget plan.

Public comments were sharply divided. Felicia Boney, representing the Virginia State Council of SEIU and other local affiliates, opposed lowering the rate, saying cuts would threaten the city’s ability to pay a living wage for contracted and city workers and to fund affordable housing and eviction-prevention programs. Several senior residents and homeowners from the city’s Eighth District opposed a higher rate, saying rising assessments and utility bills are already creating financial strain. Crystal Jordan, a public school employee and participant in a housing program, urged a lower tax rate and requested targeted relief for residents who live and work in Richmond.

Administration presentation: An administration official briefed the committee on the fiscal context, saying property taxes account for roughly 57–60% of general fund revenues and that other funding sources (state and federal) are declining. The official described pressures from rising personnel and health-care costs, a constrained debt-service cap and capital needs, and noted that the real estate rate has not changed since 2008. The administration recommended retaining $1.20 to preserve planned services and capital projects; it also said that cutting the rate now would erode funds set aside for the capital improvement plan and could complicate the city's ability to respond to emergencies or major infrastructure failures.

Committee action and votes: The committee voted to forward ordinance 2025207 (set rate $1.20) to full council with a recommendation to approve. Recorded ayes included Councilmember Stephanie Lynch, Vice Chair Jones and Chair Robertson. The committee also voted to forward ordinance 2025208 (set rate $1.16) to full council with no recommendation; that motion passed on a recorded vote with Councilmember Lynch and Vice Chair Jones voting aye and Chair Robertson voting no.

What's next: Both ordinances will proceed to the full City Council for final action. Committee members and administration said they will prepare comparisons of household-level impacts for residents and describe the specific budget items that would be affected by any change in the rate.

Ending note: Committee members acknowledged deep concern from residents about assessments, utilities and rising housing costs and signaled a desire for clearer, consumer-friendly materials explaining how rate changes would translate into household bills.","The Richmond City Finance and Economic Development Standing Committee voted to recommend the mayor's proposed $1.20 per $100 valuation property tax rate to full council and to forward a competing $1.16 proposal with no committee recommendation after a largely contested public hearing.","actionData","errors"]

Article not found

Economic development staff: Diamond District stadium on track for early 2026 opening; mixed-use buildout to continue through 2032

Committee endorses release of 2023 disparity study, asks OMBD to implement recommendations

Committee forwards multiple budget and program ordinances to full council

Finance committee recommends $1.20 property tax rate, forwards $1.16 proposal with no recommendation