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Petersburg council redirects $3.5 million in IRF funds from Sycamore Grove to city redevelopment projects
Summary
The council authorized redirecting $3,500,000 in IRF grant funds previously earmarked for the Sycamore Grove project to a list of city projects, including Southside Depot renovations, several demolitions, stabilization of the former Ramada Inn, a downtown façade grant program and landscaping.
The Petersburg City Council voted in closed session to adopt a resolution directing the redirection of $3,500,000 in IRF grant funds previously authorized for the Sycamore Grove project to several city redevelopment initiatives.
The resolution states that the city "has previously been authorized $3,500,000 RF grant funds from the DACD for the Sycamore Grove project, and whereas the city is no longer proceeding with Sycamore Grove project and has requested authorization from DACD to redirect the use of said funds to other city projects." The council recorded that DACD had indicated such a redirect would be permissible.
The funds are to be redirected to the following projects listed in the resolution: renovations to Southside Depot; demolition of 18 East Bank Street, 226 2nd Street, 307 East Wythe Street and 315 East Wythe Street; stabilization of the former Ramada Inn; a Downtown Façade Improvement Grant Program; and downtown landscaping. Councilor Myers moved the resolution and Vice Mayor Hill seconded; the motion passed by voice vote as recorded in the closed-session transcript.
The resolution does not include project-by-project funding allocations or an implementation timetable in the recorded text. The transcript records the council's direction to the city manager and city attorney to take "all actions necessary" to redirect the funds and implement the changes, but it does not record any required approvals beyond the statement that DACD indicated permissibility. The transcript contains acronyms ("IRF," "DACD") and a partially garbled statutory reading; verification of the agency name and grant program through official grant documents is recommended.
