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To amend Ord. No. 2025-057, adopted May 12, 2025, which adopted the Fiscal Year 2025-2026 Special Fund Budget and made appropriations thereto, by transferring $2,000,000.00 from the "Delinquent Tax Sales" special fund and appropriating such transferred funds to the "Affordable Housing Trust Fund" special fund for the purposes set forth in City Code ? 16-53.
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THE CITY OF RICHMOND HEREBY ORDAINS:
? 1. That Article I, Section 2 of Ordinance No. 2025-057, adopted May 12, 2025, which adopted a Special Fund Budget for the fiscal year commencing July 1, 2025, and ending June 30, 2026, and made appropriations pursuant thereto, is hereby amended by transferring funds in the amount of $2,000,000.00 from the "Delinquent Tax Sales" special fund and appropriating such transferred funds to the "Affordable Housing Trust Fund" special fund for the purposes set forth in section 16-53 of the Code of the City of Richmond (2020), as amended.
? 2. This ordinance shall be in force and effect upon adoption.
O&R REQUEST
DATE: 9/9/25 EDITION:|910|
TO: The Honorable Members of City Council
THROUGH: The Honorable Dr. Danny Avula, Mayor
THROUGH: Odie Donald II, Chief Administrative Officer
THROUGH: Tanikia Jackson, Deputy Chief Administrative Officer, Finance & Administration
THROUGH: Letitia Shelton, Director of Finance
FROM: Meghan Brown, Director of Budget and Strategic Planning
RE: Transfer of Funds to the Affordable Housing Trust Fund
ORD. OR RES. No. ________________________________________________________
PURPOSE: To authorize the transfer of $2,000,000 in city funds from the Delinquent Tax Sale Special Fund and to amend Ord. 2025-057, which adopted the FY 2026 Special Fund Budget, to appropriate such transferred funds to the Affordable Housing Trust Special Fund.
RECOMMENDATION: Approval is recommended to allocate and appropriate the funds necessary for Affordable Housing.
BACKGROUND: Ordinance 2018-238, adopted 2/11/2019, provides that ...
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