WHO: Mayor Dwight C. Jones WHAT: Mayor's annual State of the City address WHEN: Tuesday, January 26, 2010 6:30 p.m. - 8:30 p.m. WHERE: Richmond CenterStage Carpenter Theatre 600 East Grace Street Richmond, VA 23219 BACKGROUND: Mayor Jones will provide an account of the current state of Virginia's capital city during his initial State of the City address. Address highlights will include the budget shortfalls the Jones' Administration resolved in early 2009 as well as detailing the strategy to overcome forecasted budgetary challenges. Other address highlights include economic development, schools, infrastructure, quality of life, public safety, and building Richmond's future as a tier one city. Complimentary parking will be available across from the Grace Street side of CenterStage. Parking entrances are on 6th and 7th Streets. Contact: Tammy Hawley, (804) 646-3110

~FY2010 picture shows an improvement while structural imbalance remains~ Prior to its first meeting of the new decade, City Council members met with Mayor Dwight C. Jones over an informal breakfast today to discuss the city’s plans related to the previously announced FY2010 budget shortfall. Mayor Jones convened the breakfast briefing to also begin a review of the FY2011 budget forecast. The Administration initially announced the current year (FY2010) budget gap in November of last year. However, new indicators have reduced the anticipated shortfall from $10.3 million to an estimated $2.8 million. “This is largely a result of unanticipated improvements in real estate and sales tax performance, as well as a better picture of State Payment in Lieu of Taxes (PILOT),” said Mayor Jones. “Preliminary indicators suggest that real estate assessments should generate approximately $4 million more than anticipated and that the sales tax picture has improved and should also be positively imp...