~Measure would establish $2 million reserve fund for short term~ Mayor Dwight C. Jones announced today that he intends to introduce an ordinance to establish a reserve fund for maintenance needs of Richmond Public Schools (RPS). The plan is designed to capture anticipated surplus funds that will result if City Council decides against rolling back the tax rate. “While it was my desire to see us, as a government, offer the first reduction in the city’s real estate tax rate since 2007, it seems the will of the many is headed in a different direction and it is unlikely that City Council will approve the reduced rate,” said Mayor Jones. “I agree that the city has many needs that the additional funds can be directed toward, and I am suggesting that we initially establish a reserve fund for maintenance needs of Richmond Public Schools.” RPS was allocated over $7 million in funds for FY2015 for school maintenance needs. Mayor Jones requested a status report on spending and learned that RPS ...