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Richmond asks CVTA TAC to forward Diamond District off‑cycle funding request to finance committee
Summary
City of Richmond staff asked the Central Virginia Transportation Authority Technical Advisory Committee to forward an off‑cycle request for regional CBTA funds to the finance committee so the project can be evaluated; TAC voted unanimously to recommend the request be evaluated under the CBTA off‑cycle process.
The City of Richmond asked the Central Virginia Transportation Authority Technical Advisory Committee (TAC) on Wednesday to forward an off‑cycle funding request for the Diamond District redevelopment to the Authority's finance committee for evaluation.
"The Diamond District redevelopment is a once in a generation opportunity, to transform a 67 acre parcel," said Dyrona Moore Clark of the City of Richmond, who presented the request to TAC. She said the city sought TAC review and referral to finance without a formal recommendation from TAC for or against funding at this stage.
The request, described in a white paper provided to TAC shortly before the meeting, seeks regional CBTA funds to help close a shortfall after bids were received for the project. Clark said the city currently has about $3,000,000 committed from local CBTA sources and about…
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