Richmond asks CVTA TAC to forward Diamond District off‑cycle funding request to finance committee

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 $34,000,000 in local GO bonds related to the project; she said the apparent total of those commitments is roughly $37,300,000 and that a bid summary showed a total contract amount of about $44,300,000. Clark said the city is proposing a regional contribution that TAC staff and several TAC members characterized in discussion as about $13,000,000.

TAC members asked questions about the bid tabulation, whether scope reductions or rebidding had been considered, the length of time bids remain valid, and whether portions of the work are private development and therefore ineligible for regional funds. Clark said she would follow up with details, including the number of bids received, whether the city had looked at scope changes or rebidding, and the bid validity period.

Staff and TAC members noted the project was not in the current round of regional project evaluations because it was not fully funded when applications were made. Several TAC members suggested the city follow the established off‑cycle submission procedures so staff could evaluate eligibility and then present options for funding sources (for example, reprogramming existing allocations, interest income, or other sources). TAC staff said step one of the off‑cycle review requires materials equivalent to a regional application so eligibility and timing can be assessed.

After discussion, TAC moved and seconded a motion that TAC "recommend to finance that this request be evaluated following the off cycle procedures" established for CBTA regional funds. The motion passed unanimously on a roll call vote with recorded ayes including Town of Ashland (Nora Amos), Charles City County (Miss Adams), Chesterfield County (Miss Smith), Goochland County (Mr. Longerbeam), Hanover County (Mr. Vidunas), Henrico County (Miss Smidler), New Kent County (Miss Inman), City of Richmond (Miss Clark) and other members present; one member (Powhatan County, Mr. Webb) was absent from the roll call.

TAC members said they expected the finance committee to request a staff technical recommendation and eligibility check as part of the evaluation; TAC staff said they would begin the off‑cycle process once the city provides the required application materials. TAC did not take a funding vote or otherwise commit regional funds at the meeting.

Clark said the mayor planned to present the request to the finance committee on Wednesday and thanked TAC for considering the referral.

TAC chairman Joe (last name not specified in the transcript) closed the discussion and the committee moved on to other agenda items.