Conceptual drawing of a new self-storage facility to be built in the Montpelier area of Hanover County. (Courtesy of Hanover County)
Montpelier self-storage unit facility to be considered by Hanover Planning Commission
Zoning requests related to a proposed self-storage facility in Montpelier are scheduled to go before the Hanover Planning Commission this week.
Mile Branch Investments LLC and Lone Oak Land Co. are seeking zoning approval for a self-storage facility on Mountain Road near its intersection with West Patrick Henry Road. The project will be built on his 17-acre property next to Food Lion at 16615 Mountain Road.
When fully built out, the proposed self-storage facility would have 534 storage units and 116 spaces for boat and RV parking, according to a staff report.
The Hanover Planning Commission's Thursday meeting agenda can be found here.
Long-delayed Stratford Hills project returns to city planning agenda
The Richmond Planning Commission meets Tuesday at 6 p.m. The full agenda can be found here.
Back on the agenda is the previously postponed request for amendments to the Stratford Hills Community Unit Plan. The amendment increases the planned footprint by 2.85 acres to 67.4 acres to accommodate Harper Associates' plans to develop a Chipotle restaurant, 6,500 square feet of non-retail space and up to 36 townhomes on the east side of the site. become.
Other business on the agenda is a special use request to convert the former mansion-turned-office building at 207 W. Franklin St. into 11 apartments, three of which are four-car units. It will be housed in the organization's newly built vehicle shed. garage. Planning staff will also present updates on the city's cultural heritage management plan.
Planning Commission discusses Chesterfield zoning update project
The Chesterfield Planning Commission is scheduled to meet Tuesday. Commissioners will discuss the county's ongoing Urban Planning Modernization (known as ZOMod) efforts.
County staff and the consulting firm White & Smith have been working on updating the city planning ordinance since early 2021. The project aims to make city planning ordinances easier to use, modernize land use categories, and bring policies more in line with the City of Chesterfield's Comprehensive Plan. Among other goals.
This week's discussion focuses on zoning in the ordinance and comes after the City of Chesterfield released a second draft of the proposed ordinance earlier this month. The Planning Commission agenda can be found here.
City of Chesterfield's proposed $2 billion budget includes funding for Powhite Parkway expansion
The City of Chesterfield's proposed fiscal year 2025 budget includes a $300 million bond-led package for road projects, about half of which will extend Powhite from its current terminus near the interchange with Route 288 to Woolridge. The money will be used for the first phase of construction, which will extend to Road. Eventually, the county hopes to see the parkway extended to Hull Street Road.
Chesterfield officials said they plan to issue bonds to finance the road project and will use county tax revenue from the Central Virginia Department of Transportation to pay it back.
Chesterfield's proposed budget also includes a 1-cent reduction in the county's real estate tax rate, which would bring it to 90 cents per $100 of assessed value.
The $2 billion budget proposal county officials announced last week includes $998.4 million in general fund funding, an increase of $46.7 million compared to the county's main operating funds for this fiscal year. There is.
The Board of Supervisors is scheduled to adopt the county's budget in April. Fiscal year 2025 begins on July 1st.
$1.4 billion Henrico budget proposal includes double BPOL tax exemption amount
Henrico Supervisors and others received the county's proposed FY25 budget. The $1.4 billion spending plan maintains current real estate tax rates and includes a $1.2 billion general fund budget, representing an 8.4 percent, or $97.6 million, increase over this year's plan.
The budget includes a 4.8% across-the-board pay increase for general government and school employees, as well as additional funding to phase in pay increases for education and public safety positions. The General Fund budget for the school system will total $704 million, an increase of 8.3 percent ($53.7 million).
Other highlights include doubling the business, professional, and occupational license (BPOL) tax exemption level from $500,000 to $1 million in gross income. $2 million for neighborhood revitalization projects and $750,000 for the Henrico Investment Program. Increase water and wastewater rates by 5 percent to support public works operations. The capital budget is $327 million.
The full budget proposal can be viewed here.
The board will receive departmental presentations during a budget workshop scheduled for March 18-21. A public hearing on this proposal is scheduled for March 26th, and as outlined, the plan is expected to be adopted on April 9th, ahead of the start of his fiscal year on July 1st.
Rezoning of 600-acre data center project in Henrico's Windham subdivision postponed
At last week's meeting, Henrico supervisors again deferred the rezoning request to Markel. Eagle's rezoning proposal for an 80-home subdivision on 46 acres southwest of Pouncey Tract Road and Windham West Drive. The board approved a rezoning for Dorado Capital's 85-unit subdivision plan on 30 acres along Nine Mile Road between Westover Avenue and Orams Lane.
The Henrico Planning Commission postpones a request to rezone 622 acres southeast of the Interstate 64-295 interchange in Varina for industrial development, including advanced manufacturing and a data center, to an April 11 meeting. did. The request builds on an earlier proposal from Atlantic Crossing LLC, a group that includes Texas-based Hillwood Development.
16 bidders participate in $121 million Henrico bond sale
Following the recent reaffirmation of its Triple AAA bond rating, Henrico County secured an effective interest cost of 3.07% on $121.4 million in general obligation bonds in a competitive bond sale held last week.
The winning bidder was Ohio-based Fifth Third Securities, which offered the lowest price out of 16 bids ranging from 3.07% to 3.14%. For an issue size of $121.4 million, an effective interest cost of 3.07 percent would result in a return of $136.5 million.
Last week, Henrico's triple AAA bond rating was reaffirmed by S&P Global Ratings, Moody's Investors Service and Fitch Ratings. Triple AAA bond ratings provide the highest possible amount of evidence of local creditworthiness.
In January, regulators approved bond sales to support 10 projects. The $86 million will go toward a new environmental education center at Wilton Farms and alternative schools at Jackson Davis Elementary School, Longan Elementary School, and Kiokasin Middle School. $13.3 million will go toward a new Fire Station 6 in Eastover Gardens.
The $17.7 million will be used for access roads to the planned Three Chopt Area Park and Henrico Pet Adoption Center, as well as general improvements to Tuckahoe Creek and Tuckahoe Park. $2.5 million for countywide drainage improvements; and $1.9 million for the ongoing expansion of the Richmond-Henrico Turnpike.
