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To authorize the Chief Administrative Officer, for and on behalf of the City of Richmond, to execute a Cooperation Agreement between the City of Richmond and the Economic Development Authority of the City of Richmond for the purpose of facilitating the redevelopment of the City-owned property located at 500 North 10th Street. (6th District)
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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 a Cooperation Agreement between the City of Richmond and the Economic Development Authority of the City of Richmond for the purpose of facilitating the redevelopment of the City-owned property located at 500 North 10th Street. The Cooperation Agreement 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.
City of Richmond
Intracity Correspondence
O&R Transmittal
DATE: September 30, 2025
TO: The Honorable Members of City Council
THROUGH: The Honorable Dr. Danny Avula, Mayor
THROUGH: Odie Donald II, Chief Administrative Officer
THROUGH: Sharon Ebert, Deputy Chief Administrative Officer
FROM: Angie Rodgers, Director, Department of Economic Development
RE: Cooperation Agreement - Conveyance of 500 N. 10th Street (Public Safety Building) to the EDA
ORD. OR RES. No.
PURPOSE: Cooperation Agreement Ordinance: Ordinance to authorize the Chief Administrative Officer to execute a Cooperation Agreement between the City of Richmond and the Economic Development Authority of the City of Richmond for the purpose of advancing the redevelopment of City-owned real property commonly known as the former Public Safety Building and located at 500 North 10th Street as part of a thriving, transit-oriented mixed-use City Center (“PSB Cooperation Agreement”).
BACKGROUND: The City Center Plan adopted by City Council in 2022 provides a framework for the redevelopment of the City Center area to catalyze the development of a thriving, mixed-use downtown. The City owns multiple parcels of underutilized real estate located within City Center, including the approximately 3.01 acre parcel located at 500 N. 10th Street and referred to in the records of the City Assessor as Parcel No. E00000235001 (the “PSB Parcel”). Pursuant to Ordinance No. 2024-320, the City and the Greater Richmond Transit Company (“GRTC”) entered into that certain non-binding GTRC Downtown Transfer Hub Site Memorandum of Understanding dated June 24, 2025 (the “City/GRTC MOU”) contemplating advancing the construction of dense mixed-use transit-oriented development and a permanent bus transfer hub within City Center. Section III of the City/GRTC MOU asserts the City’s its intent to transfer the PSB Parcel to the EDA to enable advancement of redevelopment thereof in accordance with the goals set forth in the MOU and the City Center Plan.
This ordinance will authorize the CAO to execute a Cooperation Agreement between the City and the EDA, which provides for the maintenance and security of the PSB parcel until such time redevelopment commences. Collectively, this ordinance and a companion ordinance authorizing the conveyance of the PSB Parcel to the EDA will effectuate the City’s intent set forth in the MOU to convey the parcel to the EDA for the purpose of advancing the redevelopment of the property in coordination with GRTC.
STRATEGIC INITATIVES AND OTHER GOVERNMENTAL: City Center Plan; City/GRTC MOU
FISCAL IMPACT: There will be nominal costs associated with recording land records.
DESIRED EFFECTIVE DATE: Upon Adoption.
REQUESTED INTRODUCTION DATE: December 8, 2025
CITY COUNCIL PUBLIC HEARING DATE: January 12, 2026
REQUESTED AGENDA: Consent
RECOMMENDED COUNCIL COMMITTEE:
Cooperation Agreement Ordinance - Finance and Economic Development Standing Committee
AFFECTED AGENCIES: Department of Economic Development, Department of General Services
RELATIONSHIP TO EXISTING ORD. OR RES.: Ordinance No. 2024-320
ATTACHMENTS: PSB Cooperation Agreement; GTRC Downtown Transfer Hub Site Memorandum of Understanding
STAFF: Matt Welch, Department of Economic Development
DJ Mulkey, Department of Economic Development