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RHA defends use of nonprofit arm, seeks tenant-protection vouchers and promises more resident engagement on Gilpin Court redevelopment
Summary
Richmond Redevelopment and Housing Authority Chief Executive Steve Nesmith told the City’s Land Use, Housing and Transportation Standing Committee that RHA will use its nonprofit Richmond Development Corporation to raise funding for a phased redevelopment of Gilpin Court, will continue to hold title to the land, and is seeking tenant protection vouchers to aid residents during relocation.
Steve Nesmith, chief executive officer of the Richmond Redevelopment and Housing Authority, told the Land Use, Housing and Transportation Standing Committee that RHA intends to use its nonprofit redevelopment arm, the Richmond Development Corporation (RDC), to raise financing to redevelop Gilpin Court in multiple phases and to seek tenant protection vouchers for residents during relocation.
“We want to leverage RHA's 501(c)(3) nonprofit called the Richmond Redevelopment Corporation, which is the redevelopment arm of RHA,” Nesmith said, adding that the RDC “is wholly owned by RHA and thereby has accountability and oversight by RHA board of commissioners.” He defended the structure as a financing tool used by housing authorities nationally and said the phased transfers would be by ground lease so RHA would “continue to own the land.”
Nesmith…
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