The City of Richmond was to conduct a special workshop today at 11 a.m. to prioritize the fiscal year 2022-23 budget as budget season rapidly approaches.
City officials expect little to no growth in the next fiscal year in the general fund anticipating a tighter revenue.
As a result, officials assume a 3% increase in the water and wastewater rate and 11% surface water rate increase.
Staff also estimates a forced reduction in the tax rate based on rising market values. The proposed rate sits at 63 cents per taxable value, down from 2022’s 68 cent mark.
Council will also discuss the city’s final strategic plan. City commission will focus on identifying grant opportunities, expanding social media and communications and county fire service.
Top management priorities include developing a cybersecurity plan, improving security at city buildings and conducting a review of the MUD districts in a five-year plan.
Capital projects being discussed for the budget include more than $7.6 million in state and federal grants to be used on Northside drainage improvements, $3.75 million in street rehabs and many more items. Council will also discuss creating a public improvement district.
A PID is a partnership agreement between a city and private sector that provides specific property owners with additional services from the city. Residential, commercial and retail owners would be included.
The additional services are paid for by PID assessments on the property within the district and can include security, common-area maintenance cleaning, district promotion and landscaping, according to the city commission packet.
The city provides these services and is repaid for the additional expense through an assessment on the property within the district The meeting was to take place at 600 Morton St. Residents unable to attend can view the meeting at https://us06web.zoom.us/u/kbg2NRf92u and use the meeting ID 856 7708 6303.
