The City of Richmond’s public utility, which provides water, sewer and gas to city residents and those throughout the metro region, has received a bond rating upgrade by Moody’s Investors Service to Aa1 – one step below the highest rating of AAA.

The upgrade, the second the city has received in the last two months, will allow the utility, known as the Richmond VA Combined Utility Enterprise, to borrow money at more favorable rates, producing cost savings estimated to be in the millions in upcoming years.

The City of Richmond’s general obligation bond rating was similarly upgraded to Aa1 by Moody’s in February.

“This upgrade is further proof that the mayor and his executive team are managing the city in a prudent and fiscally responsible way,” said David P. Rose, Senior Vice President at Davenport & Company, the city’s financial advisors.

Moody’s said the utility’s upgrade “reflects the strength and stability of the system's liquidity position and debt service, coverage ratios, supported by regular rate increases and long-range financial planning. The rating also reflects the system's large, diverse and growing service area, adequate treatment and storage capacity, elevated but manageable debt burden, as well as adequate legal provisions.” 

“A financially healthy, well managed public utility is central to providing the clean drinking water and reliable service our people depend on every day,” said Mayor Stoney. “This upgrade is more than just a feather in our fiscal cap. It creates greater opportunity for the city to save millions and reinvest in our vital infrastructure to meet the needs of our residents and customers.”   

The Moody’s release on the upgrade was issued in spite of the coronavirus outbreak and said the utility has a “stable” outlook. 

“Richmond VA Combined Utility is not susceptible to immediate material credit risks related to coronavirus,” the Moody’s report states. “Any potential declines in usage trends are unlikely to be material over the near-term given the essentiality of the services provided and the stability of the utility's customer base.  Additionally, the utility's healthy liquidity position will help to minimize the credit impact from any temporary disruptions to the collection of customer payments

City services continue to adapt

Time limits on parking will not be enforced 

Drivers will still be ticketed for parking illegally, which generally includes blocking the right of way or disturbing essential services. Examples include parking in front of ADA accessibility ramps or fire hydrants and blocking bike lanes or crosswalks. 

Be vigilant – paving and utility repairs are ongoing. Therefore, drivers should still abide by temporary restrictions indicated by signage. If they do not, they will be ticketed. 

If you are concerned by a business that is not abiding by the Governor’s social distancing order or large congregations of people, call the police non-emergency number: 804-646-5100

This also applies to Richmond’s city parks and outdoor spaces
The Governor’s executive order does not allow gatherings of more than 10 people. Groups larger than 10 outside a household unit are in violation of that order. Click here to read that order.

Click here to read the full guidance provided by the city and Richmond Police Department.

According to Governor Northam’s Executive Order 53, as of 11:59 on Tuesday, March 24 all businesses in Virginia are subject to the following regulations:

• Entertainment and recreation venues must close;
• Non-essential businesses that cannot abide by the recommended six feet of social distancing must close;
• Food and drink establishments must limit their service to carryout, curbside, or delivery;
• Non-essential brick and mortar stores may stay open as long as they limit capacity to 10 patrons at a time; and
• Essential businesses, such as grocery stores and medical and health establishments, may stay open but must practice social distancing and enhanced hygienic precautions. 

Here is a link to the full text of the Governor’s instructions.

If a resident of Richmond sees an establishment out of compliance with this order and is concerned for public health, they should call the Richmond Police Department non-emergency number: 804-646-5100. This also applies to residents who see large groups not practicing social distancing in city parks and outdoor spaces.

Concerned residents should not call 911 in these cases. While non-compliance with social distancing guidelines puts the community at risk, 911 lines should be reserved for emergencies.

These are the directions that the Richmond Police Department has given its officers on enforcement of the Governor’s instructions:

RPD ADVISORY
ENFORCEMENT PROCEDURES OF COVID-19 EXECUTIVE ORDER
Officers will attempt to address these situations as they arise in the following manner:

• FIRST COMPLAINT – Officers will identify the responsible party, educate them regarding the governor’s order and document the interaction in an offense report. This will include providing the responsible party with a copy of the executive order.
• SECOND COMPLAINT – Officers will warn the responsible party that continued violation will result in a Class 1 misdemeanor and document the interaction in an offense report.
• THIRD COMPLAINT – Officers will contact supervision for assistance and proceed with criminal charges, if appropriate.
• *NOTE* - Egregious or extreme cases will be handled differently

Evictions are Halted in Richmond

“No evictions will be executed during this state of emergency.”

Mayor Stoney released a statement detailing the current status of eviction procedures during the pandemic. Click here to read it in full.

Richmond is Safer and Stronger at Home

The Mayor and city leaders warn that if residents do not practice social distancing in parks, they could be closed.

Mayor Stoney, Parks Director Chris Frelke, and Police Chief Will Smith announced their intent to enforce social distancing in parks and other outdoor spaces, warning residents to stay six feet apart or risk the closure of the parks. This includes abstaining from basketball, pickleball, field sports, and similar activities that require touch. 

Residents are encouraged to use the outdoors as a means by which to take a break, get exercise, and maintain mental health. However, residents should maintain the suggested six feet distance from other humans and pets and wash hands as soon as they return home. 

Click here to watch the video.

The Governor’s briefing today reiterated warning and guidance from yesterday. 

The restrictions on non-essential businesses go into effect at 11:59 on Tuesday, March 24. You can read more here. The Governor’s Office has provided a frequently asked questions document here. 

Services Continue to Evolve

The state typically requires that businesses interested in the Enterprise Zone program submit a hard copy application, but that requirement is now waived. 

Interested parties may submit applications online here until April 1. 

The city maintains an updated list of essential services available during the closure. 

Recently, we added Richmond Behavioral Health Authority’s service modifications and information on jury duty for the Circuit Court. Click here to access it.
 

“En las pasadas dos semanas, mi equipo y yo hemos estado en conversación con la Sociedad de Ayuda Legal del Centro de Virginia, los defensores de los inquilinos, la alguacil Irving y las cortes con la meta de parar completamente los desalojos que se decidieron y programaron antes del congelamiento de casos ocurrido en el estado”.

“Después de nuestras conversaciones con la alguacil y su equipo, he recibido la garantía de que no se ejecutará ningún desalojos durante el estado de emergencia en que estamos. La alguacil ha notificado a los propietarios que la implementación de estos desalojos ha sido parada”.

“Al mismo tiempo que trabajaba con la oficina de la alguacil, he contactado a la Autoridad de Vivienda y Desarrollo de Richmond para extender el congelamiento de sus desalojos, así como a los beneficiarios del Fondo de Vivienda Asequible a no proceder con ningún desalojo. Mi propuesta de enmienda al presupuesto, que incluye trasladar $2.1 millones al Fondo de Vivienda Asequible, ayudará a proveer espacios para albergues de emergencia y vivienda básica a los miembros más vulnerables de nuestra comunidad. También proveerá fondos adicionales para el Programa de Evitación de Desalojos una vez que termine el estado de emergencia”.

“En conclusión: nadie debería perder su hogar en medio de una pandemia. Responder a este reto con justicia y velocidad requiere de compasión en la toma de decisiones en todos los niveles. Animo a todos los propietarios de viviendas a que sean comprensivos con la inmensa carga económica que muchos trabajadores deben soportar debido al COVID-19. Debemos trabajar juntos y ayudarnos el uno al otro”.