Wilder to give budget proposal today - News

Wilder to give budget proposal today

Mayor already released plans for Richmond tax rate, raises, public marina

Thursday, Mar 06, 2008 - 12:08 AM

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By KIRAN KRISHNAMURTHY

TIMES-DISPATCH STAFF WRITER

Richmond Mayor L. Douglas Wilder is scheduled to release his proposed budget today.

Linwood Norman, a spokesman for Wilder, declined to offer a preview of the mayor's amendments to the two-year spending plan, which the administration is scheduled to present to the City Council at 3 p.m. at City Hall.

"We're still finalizing everything," he said. "Stay tuned."

Some details of the mayor's fiscal plan have emerged in recent weeks. Here's what the Wilder administration has floated so far:

Maintaining the current $1.23 real estate tax rate. Wilder says holding the rate constant is prudent in the face of an economic slowdown, and he says the city is bracing for a possible $8 million cutback from the state, which has yet to finalize its spending plan.

"Reality does not permit a rollback in taxes this year. It would be fiscally imprudent and reckless to do so this year; if not, I would have so proposed," Wilder wrote this week in his Visions newsletter, which is on the city's Web site.

Council President William J. Pantele has proposed cutting the tax rate to $1.20, citing an increase in revenue from real estate assessment revenue.

Giving most employees a 2 percent across-the-board pay raise.

That would pale in comparison with raises given to Wilder's closest aides and department heads, as well as some council staffers. This fiscal year's bill for City Hall employees earning $100,000 or more is up 28 percent from a year earlier.

Setting aside $20 million originally intended for school construction as part of the $300 million City of the Future plan and instead saving that money for capital or operating expenses.

Budgeting funds for Wilder's proposal for a public marina at Intermediate Terminal.

The project, which also includes road improvements and riverfront development, could cost about $17.7 million, according to the administration. Richmond officials say the city could net $550,000 in the deal through payments from the developer of the adjacent Village of Rocketts Landing and by selling about 30 acres owned by the city and the Richmond Redevelopment and Housing Authority.
Contact Kiran Krishnamurthy at (804) 649-6810 or kkrishnamurthy@timesdispatch.com.