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Redevelopment commission backs $369,000 for Star Neighborhood land bank and rehab plan
Summary
The Richmond Redevelopment Commission approved a $369,000 contribution to a Star Neighborhood Revitalization land‑bank and planning effort that aims to rehabilitate up to 20 historic homes in the Star Historic District and leverage a $976,000 REDI LEI grant.
The Richmond Redevelopment Commission voted Oct. 21 to contribute $369,000 toward the Star Neighborhood Revitalization initiative, a multi‑year plan to stabilize and restore the Star Historic District.
Sarah Mitchell of the Economic Development Corporation presented the proposal, saying, “this initiative is a transformative effort to restore Richmond's Star Historic District,” and described a $5.2 million overall project budget that includes a $976,000 REDI LEI blight grant and a current $200,000 EDC contract with Interurban to provide planning and technical assistance.
Mitchell told the commission the project will stand up a land bank to “acquire, hold, and maintain” strategic properties and to rehabilitate up to 20 historic homes to help stabilize property values and encourage reinvestment. She said Interurban and the renewed land bank will provide administrative support, stakeholder engagement and developer recruitment.
Commissioners asked how the funding would be split and how developers would be selected. Mitchell said the commission’s contribution would help cover an acquisition and maintenance shortfall not covered by the grant and that developer selection would be handled through a request‑for‑proposals process aligned to Interurban’s planning strategy. She said the city intends to contribute roughly $60,000 annually from the general fund in future years as part of the longer‑term budget.
The commission approved amended Resolution 16‑20‑25 by voice vote. No roll‑call tallies were recorded in the meeting transcript.
Next steps: the EDC and Interurban will proceed with planning and land‑bank startup activities; the commission’s contribution comes from the redevelopment allocation line items noted in the staff presentation.
