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Showing posts from February 26, 2012

Jones Budget Proposal to Include Capital Investments

Tourism economic impact at center of plans

The Capital Improvement Plan (CIP) being prepared by the Jones Administration for submission to City Council on March 6 includes what Mayor Jones is calling key tourism economic drivers designed to spur the areas creative economy.

Included in the Mayor’s proposed budget is $14 million in proposed improvements to the historic Landmark Theater, $5 million for Shockoe Bottom Revitalization plans, and $5 million for riverfront development.

Mayor Dwight C. Jones cited tourism as a driver for his decision to propose these investments. “Increasing our tourism draw is a revenue generator and of great benefit to the city,” said Mayor Jones. “For example, it is anticipated that the Landmark renovations will lead to expanded operations and the additional visitor spending will generate an estimated annual economic impact of $6.1 million for the city of Richmond - doubling the economic impact and tax revenue presently generated by the Landmark Theater.”

Jones…

Mayor Jones Announces Leadership Team for World Cycling 2015

Mayor Dwight C. Jones announced today the selection of new members of the Board of Directors for Richmond 2015, the organization that will produce the 2015 Road World Cycling Championships. The board will be co-chaired by Mayor Jones and Thomas Farrell, the Chairman and CEO of Dominion Resources. The board appointed Jack Berry, Executive Director of Venture Richmond, as the interim CEO of Richmond 2015.Mayor Jones, Farrell and Berry will serve as the Executive Committee, which will guide the organizational efforts to prepare the community to host the international cycling event. Other board members who have agreed to serve in leadership capacities include: Slaughter Fitz-Hugh, President and COO of CapTech Consulting, and 2011 United Way Campaign Chair; Jon Lugbill, Executive Director of Richmond Sports Backers; Byron Marshall, City’s Chief Administrative Officer; Julie Rautio, partner with Capital Results; Phil Hills, former Executive Vice President of the Lance Armstrong Foundation; …

City Upgrades 911 Phone System

Mayor Dwight C. Jones today announced the transition from an analog system to state-of-the-art digital technology for the Richmond Police Division of Emergency Communications 911 phone system.After months of planning, implementation and training, the city’s new 911 phone system went live today in early morning hours. There was no interruption of 911 call service to city residents with the transition.“This is a planned enhancement that was appropriated for in our current budget,” said Mayor Jones. “The new system puts the city in an improved posture to interface with emerging technologies as 911 standards evolve, to include texting and sending photos to emergency systems.”Funding for the 911 phone system was appropriated in the FY2012 budget by Mayor Dwight C. Jones and Richmond City Council. The approved appropriation supports a five-year lease agreement to pay for the system via a leasing agent. In addition, the City of Richmond received a $150,000 grant from the Virginia Information…

Mayor’s Commission on Pension Liability Assessment Issues Report

Mayor Dwight C. Jones today received the report of the Mayor’s Commission on Pension Liability Assessment. Key findings included recommendations to:1. Continue the City’s long-standing practice of fully funding the actuarially required contribution to the Richmond Retirement System (RRS), as recommended by the actuary;
2. Consider adjusting the employer and employee contributions for current and future employees;
3. Consider realigning the pension benefit structure for senior-level employees including the vesting period to match the term of office of elected officials; or,
4. Consider moving senior-level employees to the Virginia Retirement System, both to reduce costs and to increase the pool of potential employees.
Commission Chair Robert M. Blue said that the RRS Board appeared to be a good steward of the pension system. “The investment performance in the RRS portfolio is excellent, and the Board has plotted a course that will re-build its funding ratios in the foreseeabl…