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Richmond Housing Authority adopts FY25‑26 budget; Nevin Plaza Phase 1 complete, Phase 2 planned
Summary
The Richmond Housing Authority and City Council adopted a joint FY25‑26 RHA budget and heard updates on multiple RHA projects including completion of Nevin Plaza Phase 1 and planned Phase 2 development.
The Richmond Housing Authority (RHA) and the Richmond City Council adopted a joint resolution approving the RHA proposed fiscal year 2025‑26 budget on Tuesday, formalizing planned revenues and expenditures and a requested general‑fund subsidy.
RHA Executive Director Antoinette Terrell presented the authority’s 2025‑26 budget and project updates. Terrell said Nevin Plaza Phase 1 — the renovation and transfer of 140 units developed in partnership with EAH Housing — is complete and residents are now occupying upgraded units. RHA also detailed a planned Nevin Plaza Phase 2 that would add roughly 76 affordable units behind the Phase 1 property and noted EAH Housing will hold a public meeting to share design updates.
The adopted RHA budget shows total estimated revenues of $4,480,249.92 and the same amount in estimated expenditures. The approved RHA subsidy request from the City of Richmond general fund was listed in staff materials as $1,039,755 to balance the RHA budget; staff explained that figure in the presentation and corrected an earlier agenda transcription error that showed an implausible larger number.
Terrell and RHA finance manager Rita Martinez reviewed key revenue streams: HUD operating subsidy, HUD Capital Fund grant, tenant rent income, and other sources. They told the commission that the RHA is fully staffed with five employees working across administrative and property management roles and described several ongoing property initiatives:
- Nystrom Village: Unit inspections completed May 23, 2025; staff are addressing identified deficiencies ahead of HUD inspections scheduled for July. - Richmond Village: The RHA is advancing environmental review, a physical needs assessment and financing work to reposition the property to a project‑based Section 8 funding platform. - Hacienda Heights: Reported fully occupied and operating. - Contra Costa Housing Authority: Noted an upcoming project‑based voucher wait list opening (June 30–July 24) and pointed people to www.contracostahousing.org for pre‑applications.
During the meeting, tenant Cordell Henler spoke in favor of the budget and praised staff work. After public comment, the board adopted the joint resolution to approve the RHA budget by roll call; staff recorded the vote as unanimous.
RHA officials also described a multi‑year audit catch‑up plan: audits for prior years are in draft form and staff are proposing a timeline to complete audits for 2022–2024 during FY26 and then 2025–2026 during FY27 to bring RHA financials up to date and aligned with city audits.
The board’s approval authorizes the RHA to proceed under the approved revenue and expenditure envelope and to continue project work on Nevin Plaza, Nystrom Village and Richmond Village as staff follow up on HUD inspections, environmental review and financing steps.
The RHA noted that some repositioning decisions depend on HUD program rules and federal funding timing; staff said they will return with grant or financing updates as details are finalized.
