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VPM News Update | May 24, 2024
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The VPM News Update is here with stories for the week ending May 24, 2024.
The city of Richmond was rated AAA by Fitch, one of the nation’s top three credit bureaus, saving the city $25 million in interest over existing bonds. Democrats are crying foul after a clause was removed from the proposed budget that would bring the state millions in annual climate resilience funding. Lawmakers published an op-ed demanding reforms at Riverside Regional Jail.
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VPM News Update | May 24, 2024
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The city of Richmond was rated AAA by Fitch, one of the nation’s top three credit bureaus, saving the city $25 million in interest over existing bonds. Democrats are crying foul after a clause was removed from the proposed budget that would bring the state millions in annual climate resilience funding. Lawmakers published an op-ed demanding reforms at Riverside Regional Jail.
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Learn Moreabout PBS online sponsorshipBILLY SHIELDS: Welcome to the VPM News Update.
I'm Billy Shields.
One of the three big credit bureaus in the nation have given the city of Richmond a AAA rating, the highest possible.
At a press conference earlier this week, city officials said it would save $25 million from interest on existing bonds.
Mayor Levar Stoney said this would help the city with key capital projects.
LEVAR STONEY: In five years I think you'll see the Diamond District first phase be completed in the next five years.
You'll probably see City Center, first phase likely to be complete in the next five years.
We got a couple more schools that are in the pipeline as well.
BILLY SHIELDS: State Democrats are crying foul over the latest proposed state budget.
They say the state is missing out on millions in climate resilience funding.
A recent version of the budget removed a clause that would have put Virginia back into the Regional Greenhouse Gas Initiative, a carbon market made up of mostly northeastern states.
Virginia lawmakers are sounding the alarm over the Riverside Regional Jail in Prince George County.
Lawmakers recently penned an op-ed urging the jail board to install permanent leadership that would ensure the safety of those imprisoned there.
The jail serves seven localities: Chesterfield, Prince George, Charles City and Surry counties, in addition to the cities of Hopewell, Petersburg, and Colonial Heights.
A total of 18 inmates have died at the jail between 2020 and 2022.
Thanks for watching, for more news about what's going on in the Commonwealth, go to our website VPM.org.
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