Northern Neck News

Follow Us On:

County or bank?

Posted on Wednesday, August 14, 2019 at 9:45 am

Richmond County’s Board of Supervisors appears to be trying to steer clear of creating a sense that the county is a bank. A significant portion of this month’s meeting was spent considering financial requests from local organizations. None received exactly what it asked for.

As part of its upcoming expansion project, the YMCA requested that the county purchase a corner parcel near its Richmond County branch. Virginia Department of Transportation owns the property, which is approximately eight-tenths of an acre, and has offered it to the county at a 10 percent discount, lowering the price to $41,400.

In addition to asking the county to make the purchase, the YMCA also requested money to make the purchase. The organization only has $16,000 to contribute and asked the board to match it with a $16,000 donation. According to the organization’s proposal, the county would also need to pay the remaining $9,400. That amount would be considered, a loan until next year when the county could recoup the funds by deducting them from the $25,000 contribution that Richmond County makes to the YMCA’s budget each year.

Members of the board discussed the options of giving the organization the money versus loaning it.

“I’m in favor to try to help you all, but I’m not in favor of another $16,000 donation,” Lee Sanders told the YMCA representatives in attendance. Sanders said he favored an arrangement similar to what the county has done for other organizations—loan the money and have it repaid through a payment plan. “I think that’s more than fair on both sides,” he said.

For the full article, pick up the latest Northern Neck News 8/14/19