Content of economic impact statements.
Richmond, Va., City Code § 2-298
in effectSec. 2-298. - Content of economic impact statements.
The economic impact statements and the revised economic impact statements required by Section 2-296 shall include, at a minimum, all of the following:
(1) The sources of information, assumptions and methodologies used to reach the conclusions set forth in the economic impact statement.
(2) An outline that lists all ordinances, resolutions or actions that are required to be completed related to and for the economic development project, with an associated timeline for each.
(3) A description of any variables that could affect economic impact estimates.
(4) The partnerships, corporations, businesses, boards, commissions, nonprofit organizations and other entities that the Mayor anticipates will be stakeholders in the economic development project to be authorized by the proposed ordinance and the level and nature of their involvement with the economic development project to be authorized by the proposed ordinance.
(5) Any anticipated positive or negative impact, if any, on employment.
(6) A range of economic impact factors that are uncertain or difficult to project.
(7) The number of permanent or temporary jobs that are anticipated to be created as a result of the economic development project to be authorized by the proposed ordinance.
(8) An analysis and timeline showing the projected revenues that are expected to be generated as a result of the City's expenditure of public funds, if the proposed ordinance is approved by the Council. The analysis and timeline shall include the benchmarks used to determine the revenue projections. An annual progress report concerning the actual revenues collected as a result of the City's expenditure of public funds and how such revenues exceeded, met or failed to meet the revenue projections and benchmarks shall be provided to the Council no later than December 31 of each year for ten years and as may be requested by the Council for any subsequent year beyond the initial ten years.
(9) An explanation of how the expenditure of any public funds by the City, as may be indicated in the proposed ordinance, complies with any guidelines, policies or best practices that help to achieve or maintain the goal of being a AAA bond rated locality.
(10) If it is determined that the proposed ordinance, or any proposed amendments thereto, is not likely to have an economic impact, the basis for such a determination.
(Code 2015, § 2-304; Code 2020, § 2-304; Ord. No. 2015-144-154, § 1, 7-27-2015)
Source: City of Richmond, Virginia, Code (2026 recodification) and Charter (Municode Library, library.municode.com)URL: https://library.municode.com/va/richmond/codes/code_of_ordinances?nodeId=PTIICICO_CH2AD_ARTIVDE_DIV3DEECDE_S2-298COECIMSTFetched: 11/8/2026