The major items inside Richmond's $2.9 billion budget for 2025
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Richmond City Council unanimously decided Monday night to pass a $2.9 billion budget for the upcoming fiscal year.
Why it matters: The spending plan is funded, in large part, by Richmonders' taxpayer dollars.
The big picture: $1 billion of that is in the General Fund, the most flexible spending source. The rest is dedicated to specific projects.
The intrigue: City Council removed $2.5 million to demolish the Richmond Coliseum and transferred $2 million of that to RPS, increasing its total schools allocation to $239 million — slightly short of the School Board's ask of $246.5 million in city funds, but the largest contribution in city history.
- The change happened after RPS employees called on council members to fully fund schools, reports VPM.
- A new financing strategy for the Diamond District, which City Council adopted last week, also added $24 million back to the budget.
Where some of the $24 million went:
🏗️ $10 million for Southside Development Project.
🚔 $7.7 million to replace Richmond Police's First Precinct.
🚒 $1.4 million to replace a Bellemeade Fire Station.
What stayed the same:
🤑 The city's real estate tax of $1.20 per $100 per assessed real estate value.
⛑️ Richmond City Health Department's $4.6 million budget.
What increased:
📚 Richmond Public Schools' operating budget from last year, up $17.8 million.
📈 City employee pay, up 4% with a guaranteed $20 minimum wage.
👮♀️ Sworn police officers and firefighters salary, up about 7%.
Major projects
🚴♀️ $21 million in new bike lanes and street and sidewalk improvements.
👀 $13 million for the Shockoe Project.
💎 $7.9 million for the Diamond District project including park space.
🛣️ $5 million for the "redevelopment" of Creighton Court, including roads, curbs and stormwater management.
🏝️ $4 million in Brown's Island improvements
🌉 $1.2 million to replace Arthur Ashe Bridge.
Housing
🏘️ $10 million toward developing affordable housing.
💰 $4.1 million to support shelters and services for people experiencing homelessness
- 👩💼 $500,000 Right to Counsel program for people facing eviction.
Schools
🏫 Up to $10 million from the construction budget to be used for school maintenance.
Police
🚨 $10 million for two fire trucks and 10 administrative vehicles, six garbage trucks and 85 police cars.
Other:
👩💻 $2.3 million for an online finance system to improve the city's meals tax payment issues.
🚧 $500,000 to create a Department of General Services to oversee maintenance and construction of city-owned buildings.
What's next: The budget goes into effect July 1.