Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Richmond council allocates $6.97 million in audited unspent funds, commits $1.4M to Homekey and holds $500,000 for Parchester study
Summary
The Richmond City Council voted unanimously to appropriate $5,571,504 in FY23‑24 audited unspent funds, commit an additional $1,400,000 loan to the Homekey hotel-to-housing conversion and to hold $500,000 from a street‑improvement project for a study addressing chronic flooding in Parchester Village.
The Richmond City Council voted unanimously to adopt resolutions appropriating fiscal year 2023–24 audited unspent funds in the amount of $5,571,504 and to commit an additional $1,400,000 to the city’s Homekey project loan, producing a total allocation of $6,971,504.
The unspent funds package targeted capital projects and other priorities the city has discussed in recent months. City staff said the Homekey request covers an identified capital funding gap for converting a 50‑room hotel into 48 units of permanent supportive housing for chronically homeless people; staff recommended a $1,400,000 loan to complete necessary rehabilitation work. Andrea Miller, the city’s finance director, presented the audited balance and explained council policy recommendations including OPEB and pension trust contributions.
The appropriation also addressed shortfalls in several capital improvement projects (CIPs): $250,000 for Borman Park site remediation, $400,000 for Borman Park revitalization (skatepark, fields, pathways and surfacing), $2,700,000 for Booker T.…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
