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Richmond Mayor Dwight Jones previews his budget plan

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Posted at 10:40 AM, Mar 02, 2012
and last updated 2012-03-02 10:50:07-05

RICHMOND Va. (WTVR) – Richmond Mayor Dwight Jones is unveiling his version of the city’s budget right now at Richmond City Hall.

Part of that budget will be how he wants to utilize the $62 million windfall that the city received from the RMA paying back decades-old loans.

Part of the Mayor’s announcement will be his Capital Improvement Plan, which is expected to entail significant economic development projects.

Members of City Council have expressed interest in using the windfall cash to pay down debt. They must vote on a budget by the end of May.

This is a developing story, we’ll have more on the Mayor’s announcement on the CBS 6 News @ Noon.