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Richmond's "City of the Future" Plan

wrldcoupe4

By wrldcoupe4
in Richmond

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wrldcoupe4 Metropolitan Area

wrldcoupe4

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Some financial details are listed in this article regarding the Mayor's $300 million City of the Future Plan

City of the Future Plan will require no new taxes

The historic $250 to $300 million capital improvement plan, which the mayor announced in January 2006, includes the revitalization of schools, arts centers, transportation infrastructure, libraries, parks and gateway beautification. Construction is slated to being in March 2007. The program is designed to be completed in four to four and a half years...

The financing plan has been approved by Davenport & Company, the city's financial advisor, Black said.

Details in the article as well as the City's website**

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Cadeho City

Cadeho

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Several public housing residents want to cling to their way of life and terrible neighborhoods. They do need to have more communities for the elderly. I think that would be good... especially here in Woodville. But those people better be glad I'm not mayor, because I back Wilder on the public housing issue, but the difference is, I wouldn't given them an eviction notice. I'd show up with the demolition crew and tell them they have 15 minutes to gather their valuables and take it from there.

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wrldcoupe4 Metropolitan Area

wrldcoupe4

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As part of the City of the Future Plan, Wilder said in his Visions Newsletter email that plans are underway for 15 new or renovated schools with work to begin next year and being completed by 2011. The construction will be funded with $200 million in municipal bonds, taking up the bulk of the City of the Future plan spending.

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wrldcoupe4 Metropolitan Area

wrldcoupe4

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First half of City of the Future Funding Secured

The city has picked Bank of America to provide short-term financing for the first half of the mayor's broad proposal, announced almost a year ago to rebuild or replace Richmond's aging infrastructure.

The bank will provide commercial paper for $150 million in short-term financing for the first projects in a $300 million program.

Wilder said yesterday that the financing proves Richmond isn't bluffing about its ambitious plans for capital projects around the city.

"It lets people know when we say something, we mean it," he said.

The mayor plans to announce the first package of projects to be built under the City of the Future program in January. At the same time, the city is preparing to hire an outside company to manage the projects that will be financed through the initiative......

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