title
To authorize the Chief Administrative Officer, for and on behalf of the City of Richmond, to execute an Eighth Amendment to the Agreement for the Provision of Services in the Downtown Richmond Special Service and Assessment Districts between the City of Richmond and Venture Richmond, Inc., for the purpose of extending the term of the agreement to June 30, 2031.
body
THE CITY OF RICHMOND HEREBY ORDAINS:
§ 1. That the Chief Administrative Officer, for and on behalf of the City of Richmond, be and is hereby authorized to execute an Eighth Amendment to the Agreement for the Provision of Services in the Downtown Richmond Special Service and Assessment Districts between the City of Richmond and Venture Richmond, Inc., for the purpose of extending the term of the agreement to June 30, 2031. The Eighth Amendment shall be approved as to form by the City Attorney and shall be substantially in the form of the document attached to this ordinance.
§ 2. This ordinance shall be in force and effect upon adoption.
DATE: March 26, 2026
TO: The Honorable Members of City Council
THROUGH: The Honorable Ellen Robertson, Councilmember 6th District
THROUGH: RJ Warren, Council Chief of Staff
THROUGH: Will Perkins, Senior Legislative Services Manager
FROM: Whitney Brown, Policy Analyst
RE: To authorize the Chief Administrative Officer, for and on behalf of the City of Richmond, to execute an Eighth Amendment to the Agreement for the Provision of Services in the Downtown Richmond Special Service and Assessment Districts between the City of Richmond and Venture Richmond, Inc., for the purpose of extending the term of the agreement to June 30, 2031.
CNL-2026-0040
PURPOSE: To authorize the Chief Administrative Officer, for and on behalf of the City of Richmond, to execute a Eighth Amendment to the Agreement for the Provision of Services in the Downtown Richmond Special Service and Assessment Districts between the City of Richmond and Venture Richmond, Inc., for the purpose of extending the term of the agreement to June 30, 2031.
BACKGROUND: The City of Richmond and Venture Richmond, Inc. originally entered into an agreement in 1996 for the provision of services within the Downtown Richmond Special Service and Assessment Districts. This agreement has been amended multiple times to extend its term, most recently through Ordinance No. 2021-127, which extended the agreement to June 30, 2026. This ordinance authorizes the execution of an Eighth Amendment to further extend the term of the agreement to June 30, 2031, allowing for the continued provision of services within the Downtown Special Service and Assessment Districts.
COMMUNITY ENGAGEMENT: N/A
STRATEGIC INITATIVES AND OTHER GOVERNMENTAL: N/A
FISCAL IMPACT: Funding is included in the proposed FY 27 budget for this purpose.
DESIRED EFFECTIVE DATE: Upon adoption
REQUESTED INTRODUCTION DATE: April 27, 2026
CITY COUNCIL PUBLIC HEARING DATE: May 26, 2026
REQUESTED AGENDA: Consent
RECOMMENDED COUNCIL COMMITTEE: Finance & Economic Development
AFFECTED AGENCIES: City Council
RELATIONSHIP TO EXISTING ORD. OR RES.: None
ATTACHMENTS: EIGHTH AMENDMENT TO THE AGREEMENT FOR THE PROVISION OF SERVICES IN THE DOWNTOWN RICHMOND SPECIAL SERVICE AND ASSESSMENT DISTRICTS
STAFF: Whitney Brown, Policy Analyst, (804-646-3765)