RICHMOND, VA (WWBT) - Mayor Dwight Jones has a plan on how to use the $62 million recently received from the Richmond Metropolitan Authority.
This money comes from debt owed to the city decades ago, and the mayor has several recommendations. He'll be sharing his thoughts Friday, so the mayor and city council members can work out how to spend this money.
Mayor Dwight Jones says he'll propose a budget that could help pay off those debts that date back decades.
The roughly $62 million is coming from a loan payoff from the RMA.
That was used to build the Downtown Expressway.
According to the Richmond Times-Dispatch, Jones says he'd like to use that money for a number of goals including redeveloping public housing like Creighton Court and Whitcomb Court, improving the Shockoe Bottom area, and creating better access to the James River through an industrial park.
He must also tackle budget shortfalls in education, retirement, and public safety.
Jones says he'll give a public preview of his plans Friday, and he'll propose the recommendations to city council Tuesday.
We'll bring you all the latest developments on any decisions they make to spend this money.