Summary

Finance and Economic Development Standing Committee — January 21, 2026 summary

RichmondJan 21, 20263 min read

At a glance

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Committee met at 2:00 PM in Council Chamber, City Hall. Members forwarded multiple ordinances and a resolution to the January 26, 2026 City Council meeting with recommendations to approve, including grant acceptances and special-fund budget amendments for opioid response and economic development, a parking license with Virginia Commonwealth University, a proposed amendment to direct 10% of annual general fund surplus to a Richmond Retirement System reserve, funding and contract changes to increase janitorial worker wages, and federal/state funding to study a railroad grade separation on Broad Rock Boulevard. One ordinance establishing a real-estate tax deferral program was continued to the March 18, 2026 committee meeting.

Projects mentioned

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Coliseum Parcel Redevelopment Economic Development PPD Development City Center Redevelopment

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Finance and Economic Development Standing Committee

Topics discussed

LaborTransportationBudget & TaxHealthcareCommerce

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Key decisions

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ORD.2026-008: Forwarded with recommendation to approve — Accept $619,950 from the Virginia Opioid Abatement Authority; create VCU Operation STOP Special Fund ($25,000) and Operation STOP Special Fund ($594,950) to implement the Operation Specifically Targeted Overdose Prevention program and provide sub-grants.
ORD.2026-010: Forwarded with recommendation to approve — Execute Atlantic Outreach Grant Contract to provide bed-fee scholarships for clients with opioid use disorder.
ORD.2026-011: Forwarded with recommendation to approve — Execute ChildSavers Grant Contract to provide trauma-informed clinical counseling for youth affected by overdose.
ORD.2026-012: Forwarded with recommendation to approve — Execute Daily Planet Grant Contract for bed-fee scholarships and referrals for clients with opioid use disorder.
ORD.2026-013: Forwarded with recommendation to approve — Execute Daily Planet Health Services Grant Contract to develop/present prevention and education to law enforcement and policymakers on the opioid crisis.
ORD.2026-014: Forwarded with recommendation to approve — Execute Health Brigade Grant Contract to support harm reduction and outreach for residents with opioid use disorder.
ORD.2026-015: Forwarded with recommendation to approve — Execute Richmond Behavioral Health Foundation Grant Contract to support quarterly community events and harm reduction supplies in designated safe zones.
ORD.2026-016: Forwarded with recommendation to approve — Execute Coliseum Parking License Agreement to lease 200 parking spaces at the City-owned facility at 501 North 7th Street to Virginia Commonwealth University.
ORD.2026-017: Forwarded with recommendation to approve — Amend City Code §§ 12-242 and 12-265 to require 10% of each year’s calculated general fund surplus be placed in a special purpose reserve to support the Richmond Retirement System Total Retirement Fund for retiree bonuses.
RES.2026-R004: Forwarded with recommendation to approve — Request Mayor propose $1,131,800 in FY2026-2027 budget to increase wages/benefits for contracted janitorial workers and pursue contract amendments to require janitorial contractor pay at least the City’s minimum wage beginning July 1, 2026.
ORD.2025-282: Continued to March 18, 2026 committee meeting — Add new City Code section 26-370 establishing a deferral program for certain real estate taxes.
ORD.2025-283: Forwarded with recommendation to approve — Amend City Code § 12-11 to change the deadline for submission of the budget to Council from March 27 to March 11.
ORD.2025-286: Forwarded with recommendation to approve — Accept $127,032 from the Commonwealth’s Development Opportunity Fund; create PPD Special Fund to provide incentives to establish a bioanalytics laboratory at 737 North 5th Street (PPD Development L.P.).
ORD.2026-007: Forwarded with recommendation to approve — Accept $150,000 from the Commonwealth of Virginia; create Capital Access Special Fund to provide funding to the Metropolitan Business League and Bridging Virginia for the Capital Access Program.
ORD.2026-009: Forwarded with recommendation to approve — Accept $2,704,000 from the Federal Railroad Administration and $540,800 from the Virginia Department of Rail and Public Transportation; create Railroad Crossing Elimination (RCE) - Broad Rock Grade Separation Special Fund and appropriate $3,224,800 for feasibility analysis, environmental clearance, and preliminary engineering of a grade separation on Broad Rock Boulevard.
ORD.2025-284: Forwarded with recommendation to approve — Execute First Amendment to Coliseum Parcel Redevelopment Cooperation Agreement with the Economic Development Authority of the City of Richmond to facilitate mixed-use City Center development.
ORD.2025-285: Forwarded with recommendation to approve — Execute Cooperation Agreement with the Economic Development Authority of the City of Richmond to facilitate redevelopment of city-owned property at 500 North 10th Street.

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