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The committee reviewed four papers and forwarded all to the February 23, 2026 City Council meeting with recommendations to approve: (1) ORD.2026-045 to repeal City Code §12-46 and add §12-48 to direct certain real estate tax revenues for evaluation and disposition toward affordable housing initiatives; (2) ORD.2026-041 to transfer $14,700,000 from the Contingency Reserve to a new Outside Agencies line item “EDA - Diamond District” for Economic Development Authority redevelopment funding; (3) RES.2026-R011 to authorize up to $42,085,000 in general obligation public improvement refunding bonds; and (4) RES.2026-R012 to authorize up to $294,280,000 in public utility revenue refunding bonds. The meeting also listed a Department of Finance presentation (RVA Pay Updates and Process Improvements).
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