Budget team presents five-year capital improvement plan
FY22-26 Capital Improvement Plan proposes significant investments in Enslaved African Heritage Campus, school modernization, vital city infrastructure
At the March 4 meeting of the Richmond Planning Commission, the administration presented Mayor Stoney’s FY2022-2026 Capital Improvement Plan (CIP), which proposes significant investments in key priority areas like modern schools, safe city infrastructure and the appropriate commemoration of historic spaces.
The plan proposes the following investments:
- $28 million for the Enslaved African Heritage Campus over the course of five years, which is in addition to a recent allocation of up to $8.6 million, totaling nearly $37 million in future investment;
- $200 million for school modernization in FY24, including proposed funds for a new George Wythe High School;
- $2.1 million in capital maintenance for Richmond Public Schools in FY22;
- Full funding to replace Fire Station 12 in FY22;
- $31.1 million for citywide fleet replacement over the course of five years;
- $11.2 million in capital maintenance for all City of Richmond facilities in FY22; and
- Full funding, over five years, to complete the Southside Community Center renovation and expansion, helping to improve service access and delivery during a crucial time.
“It has been a challenging and sobering year, but residents should be excited about this plan,” said Mayor Stoney. “They reflect our priorities: our families, our services and our shared history. Whether we’re building the Enslaved African Heritage Campus or sending students back to schools they can be proud of, it all starts with these investments.”
The Capital Improvement Plan is a five-year plan that proposes the construction, maintenance and renovation of capital projects, or physical projects. The CIP does not include operational funding, which will be represented in the FY22 Operational Budget. Mayor Stoney and the budget team will present the details of the FY22 Operational Budget on Friday, March 5 at 3 p.m. in a presentation to Richmond City Council.
To read the FY22-26 CIP, click here.