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Richmond Housing Authority seeks $1.26 million city subsidy to balance FY 2026–27 budget
Summary
The Richmond Housing Authority asked the City Council to approve its FY 2026–27 budget—$4,154,579 in revenues and $5,439,652 in expenditures—requesting a $1,260,073 General Fund subsidy and $25,000 in Hacienda sale proceeds to avoid deferring maintenance on aging public housing.
Antoinette Terrill, executive director of the Richmond Housing Authority, presented the authority's proposed fiscal year 2026–27 budget and asked the council to authorize a $1,260,073 General Fund subsidy and the use of $25,000 in Hacienda sale proceeds to balance the plan.
Terrill said the authority expects $4,154,579 in revenues against $5,439,652 in expenditures and stressed that federal operating subsidies have not kept pace with the costs of maintaining aging properties. "Because federal funding continues to fall short of actual operating costs," she said, the authority is requesting local support to maintain operations and preserve housing while redevelopment planning continues.
Terrill detailed the portfolio and needs: RHA directly manages Nystrom Village (about 100 units) and oversees roughly 783 affordable units across multiple properties. She said major expenditure categories include equipment and contractual services (about $1.8 million) for unit rehabs, plumbing and electrical work, accessibility upgrades and related repairs at properties where many buildings are decades old.
Council members asked whether units are targeted to specific populations; Terrill confirmed they are family, senior and disabled housing, not gender-specific. Members also pressed staff on grant eligibility and whether other funding streams could reduce reliance on HUD; Terrill and staff said HUD rules and the authority's recovery agreement limit some grant applications, and that the authority is pursuing grants where eligible.
After questions, the joint Richmond Housing Authority and City Council took a roll-call vote to approve the resolution adopting the RHA budget, including the requested subsidy and use of Hacienda funds. The motion passed with two members recorded absent.
Terrill said the subsidy will allow RHA to avoid deferring maintenance that would further raise long-term costs and to continue pre-development work on larger redevelopment projects anticipated to begin around 2030.
