City of Richmond figuring out what to do with $4.5 million budget surplus

RICHMOND, Va. (WRIC) — The City of Richmond is now projecting a $4.5 million budget surplus for the last quarter in 2016, according to a recent report.

The City said the extra funds are due to an extra collection of delinquent taxes and reduced spending.

There has been no word yet about how the City might use the money.

The city is in the middle of a costly renovation of the Main Street train shed and is fielding bids for a renovation of the 17th Street Farmer’s Market to make it into a pedestrian-only plaza.

This is a developing story. Stay with 8News online and on air for the latest updates.

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