title
To authorize the Chief Administrative Officer, for and on behalf of the City of Richmond, to execute a Financing Agreement between the City of Richmond and the Virginia Resources Authority for the purpose of funding the Almond Creek Interceptor Creek Crossing and Stream Stabilization project.
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 a Financing Agreement between the City of Richmond and the Virginia Resources Authority for the purpose of funding the Almond Creek Interceptor Creek Crossing and Stream Stabilization project. The Financing 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: April 22, 2025 EDITION:|910|
TO: The Honorable Members of City Council
THROUGH: The Honorable Danny Avula, Mayor
THROUGH: Sabrina Joy-Hogg, Interim Chief Administrative Officer
THROUGH: Sheila White, Director Finance
THROUGH: Meghan Brown, Acting Director Budget
THROUGH: Scott Morris, Director, DPU
FROM: Billy Vaughan, Deputy Department Director, Senior, DPU
Eric Whitehurst, Deputy Department Director, Senior, DPU
RE: Virginia Clean Water Revolving Loan Fund ("VCWRLF"); Financial and Construction Assistance Program; Almond Creek Interceptor Creek Crossing and Stream Stabilization
Loan Award #: C-515625 (LOAN)
ORD. OR RES. No. ______________
PURPOSE: To authorize the Chief Administrative Officer to execute the attached Financing Agreement with Virginia Resources Authority (VRA), as administrator of the Virginia Clean Water Supply Revolving Fund (VCWRLF). This Agreement is valued at $4,092,126.00, at 0% interest, and a payment term of up to 20 years. The financing will be used to fund ...
Click here for full text