Committee backs $2 million transfer from delinquent-tax sales to Affordable Housing Trust Fund, requests account report
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Summary
The finance committee voted to forward an ordinance that moves $2 million from the delinquent tax sales special fund to the Affordable Housing Trust Fund and asked the administration for a detailed accounting of the delinquent tax sales account.
The Richmond City Council finance committee voted to forward an ordinance to council that would transfer $2,000,000 from the delinquent tax sales special fund to the Affordable Housing Trust Fund and asked staff for a more detailed accounting of the delinquent tax sales account.
Megan Brown, the director of budget and strategic planning, told the committee the transfer reflects the administration’s commitment to the Affordable Housing Trust Fund following a restitution payment related to a named case. Committee members pressed for additional detail because the delinquent tax sales account had not been audited and still showed a balance after prior actions.
Committee members requested a detailed report from administration listing revenues and expenditures in the delinquent tax sales special fund, and asked staff to say when that information will be available to the committee.
The committee held a public hearing on the ordinance and heard no speakers. A motion to forward ordinance 2025-225 with a recommendation to approve passed with recorded votes: Miss Lynch, Aye; Vice Chair Jones, Aye; Chair Robertson, Aye.
Ending: The ordinance will proceed to full council with the committee’s recommendation; staff will return with the requested account detail to the finance committee.