Mayor Stoney presents $2.9 billion budget proposal for fiscal year 2025
Mayor Levar Stoney greeted attendees on his way to the podium to present his budget to City Council on Wednesday. (screenshot)
Last week, Mayor Levar Stoney announced a proposed budget of approximately $2.9 billion for fiscal year 2025. The spending plan would increase the General Fund budget to just over $1 billion while maintaining current tax rates, a 5.5% increase over the current General Fund and an expected 7% increase in annual revenue. This is the cause.
The budget maintains the city's property tax rate at $1.20 per $100 of assessed value, unchanged since 2008. The budget would increase the salaries of all city employees by his 4%, with even higher salaries for police officers, firefighters and paramedics. .
Funding for Richmond Public Schools will increase by $15.8 million to $237.3 million, a 7% increase over the city's contribution this fiscal year. His FY25 spending plan for the school system totals $529 million. The city's five-year Capital Improvement Plan totals $460.2 million, with $200 million earmarked for school construction projects in FY29.
City Council will hold its first workshop to consider the proposal Monday at 1 p.m., with public hearings scheduled for April 8 and May 13. The entire budget proposal can be viewed on the city's website.
Sabai nightclub opening hours extended due to urban planning agenda
The Richmond Planning Commission will meet Tuesday at 6 p.m. The agenda includes a special use request from owner Brandon Pearson for the Jungle Room nightclub behind Sabai Restaurant, 2727 W. Broad St. will allow live music and dancing to be extended until 2 p.m. on Fridays and Saturdays. The full agenda can be found here.
Hanover Board approves zoning application related to large data center project
A conceptual diagram of Tract's planned 1,200-acre data center project. The development is expected to take the form of multiple campuses and will be located in the yellow area. (Courtesy of Hanover County)
The Hanover Board of Supervisors last week agreed to a proposal to build a data center project on 1,200 acres outside Ashland.
Development company Tract is planning a data center project at the site, which is located on Hickory Hill Road east of Interstate 95.
Company representatives said that 10 to 12 percent of the project area will be occupied by the actual data center buildings and related facilities, and that construction will take the form of multiple campuses with a total of 30 buildings. Tract conceptual plans are included in the zoning. The application does not display a specific layout for development.
Tract plans to spend between $75 million and $100 million to provide infrastructure on the site and prepare it for further development. Other companies will build their own data center facilities at the complex.
In addition to the rezoning, supervisors also granted special exceptions that would allow applications for conditional use permits for public wastewater pumping stations, electrical substations, battery energy storage systems, and the construction of buildings up to 110 feet. This exceeds the height allowed by rights.
The board voted unanimously to approve the project. Both staff and the Planning Commission recommended approval of the tract request.
