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