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File #: ORD. 2020-211    Version: 1 Name:
Type: Ordinance Status: Adopted
File created: 9/29/2020 In control: City Council
On agenda: 10/12/2020 Final action: 10/12/2020
Title: To authorize the Chief Administrative Officer to accept funds in an amount up to $3,900,000.00 from Advantage Richmond Corporation, and to assign such accepted funds to the Reserve Fund for Permanent Public Improvements established pursuant to City Code ? 12-4.
Patrons: Mayor Stoney
Attachments: 1. Ord. No. 2020-211

Title

To authorize the Chief Administrative Officer to accept funds in an amount up to $3,900,000.00 from Advantage Richmond Corporation, and to assign such accepted funds to the Reserve Fund for Permanent Public Improvements established pursuant to City Code § 12-4.

Body

THE CITY OF RICHMOND HEREBY ORDAINS:

                     § 1.                     That the Chief Administrative Officer, for and on behalf of the City of Richmond, is authorized to accept funds in an amount up to $3,900,000.00 from Advantage Richmond Corporation for the purpose of making funds available for future appropriation for capital improvements at 900 East Marshall Street or on other City-owned real estate.

                     § 2.                     That the funds accepted pursuant to section 1 of this ordinance shall be assigned to the Reserve Fund for Permanent Public Improvements established pursuant to section 12-4 of the Code of the City of Richmond (2015), as amended.

§ 3.                      This ordinance shall be in force and effect on October 26, 2020.