Mayor Stoney, Richmond's youngest ever mayor at age 35, was sworn in by Judge David M. Hicks in a brief ceremony that was officiated by the Rev. Tyrone Nelson and attended by members of his extended family and close friends, as well as members of City Council and Gov. Terry McAuliffe and his wife, Dorothy. Read More

Enhanced technology is in the works for the City's nearly 160 solar-powered parking pay stations that will enable motorists to pay using their license plate information. Motorists will also be able to extend the time on the pay station by mobile text message. The Pay-by-Plate option will take effect on January 2, 2017. Those using pay stations can enter their license plate number directly into the machine when they pay. The system will save the information for parking enforcement officers. This helps streamline the process by eliminating the need to print a ticket and place it on the dashboard. However, receipts can still be printed for those who want them. In addition, there also will be an Extend-by-Phone option. The driver will receive a text message notification when the parking space time is running out. As long as there is time available within the posted time zone, more time can be added via text message. Benefits for the City and motorists include: Reduced paper us...

The City of Richmond successfully sold $502 million in Public Utility Revenue and Refunding Bonds of which $169 million was for new money projects and $333 million was to refund existing debt service for interest rate savings. The cost of funds for the City’s New Money Projects was approximately 3.47%, which is near the lowest cost of funds in several decades. In addition, the City took advantage of the historic low interest rate environment to refund two outstanding bond issues, which will result in the City reducing its existing debt service by roughly $100 million over the next 24 years. The Bonds were highly rated by all three national credit rating agencies - Moody’s, Standard & Poor’s and Fitch (Aa2, AA, AA respectively). Wells Fargo, Bank of America, Raymond James and Siebert Cisneros Shank served as underwriters on the financing. Wells Fargo, Bank of America and Raymond James have offices in Richmond. Siebert Cisneros Shank is based out of New York and is the nation’...

Richmond Mayor Dwight C. Jones today joined representatives from the Monroe Park Conservancy, Virginia Commonwealth University and major donors to break ground on a $6 million extensive renovation of Monroe Park. "This park has a long history and has always served as an important hub in our city," stated Mayor Jones. "Working in partnership with the Monroe Park Conservancy group and VCU to restore the park’s luster is an opportunity that we’ve embraced with great enthusiasm. We thank all of those contributing to help us reach our goal for the park’s restoration, building on our efforts to provide beautiful open and sustainable spaces that improve Richmond communities." The park will be closed during renovation beginning Monday, Nov. 14, and the work is expected to take 12 to 18 months to complete. The project will include extensive infrastructure upgrades to underground sewer, gas, water and electrical systems. The first five-week phase of construction will focus o...

The City of Richmond’s Comprehensive Annual Financial Report (CAFR) for fiscal year (FY) ended June 30, 2015, was submitted on October 31, 2016. The external certified public accounting firm that audited the City’s basic financial statements rendered an unmodified opinion stating that the City’s financial statements are fairly presented and conform to Generally Accepted Accounting Principles. The FY15 CAFR also shows an increase to the unassigned fund balance of $4.6 million. “Given the challenges that we have faced recently with timely reporting, it is affirming to have the CAFR again confirm our strong financial position and verify a surplus in operations for the Fiscal Year 2015,” said Mayor Dwight C. Jones. “I am more confident than ever in the personnel that we have assembled for our financial operations. Now that we have closed this chapter on FY15 with a clean opinion, we will be moving forward aggressively to have the FY16 CAFR completed as quickly as possible and to set fut...

Mayor Dwight C. Jones welcomed CoStar Group to downtown Richmond during a press conference held with Governor Terry McAuliffe today.  The Governor announced that CoStar Group, the leading provider of commercial real estate information, analytics and online marketplaces, will invest $8.17 million in a new research and software development center in Richmond. Virginia successfully competed against states in the Southeast and Midwest for the project, which will create 732 new jobs and have a total economic impact of $250 million. “We are thrilled to welcome CoStar Group to Virginia and to our capital city,” said Governor McAuliffe, speaking at the event. “This will be a transformational project for the City of Richmond and the greater metropolitan area, bringing a new, high-profile corporate partner and more than 700 high-paying jobs. With our outstanding technology infrastructure and our unparalleled higher education system, the Commonwealth is a hub for the IT sector and the perfec...

Mayor Dwight C. Jones, the Richmond Flying Squirrels, and Virginia Commonwealth University said today that the minor league baseball team intends to commit to stay in Richmond for a minimum of 30 years once a new ballpark is constructed, according to a newly signed agreement. The memorandum of understanding will guide the final stages of planning for a new ballpark in Richmond to be used by VCU and the Flying Squirrels. “This is a significant step forward for baseball in the Richmond region,” said Mayor Dwight C. Jones. “More importantly, it advances our efforts for economic development along the Boulevard to generate revenue for schools and city services, consistent with our longstanding goals for Richmond.” The agreement continues progress that began in April when the parties announced a new partnership to maintain minor league baseball for the region. The partnership was energized by the City’s planning for economic development of 60 acres of city-owned North Side land boun...