On March 18, 2022, the last day that the City Council could adopt a resolution of intent to form a Community Facilities District (CFD) to fund infrastructure at Point Molate, the RPA Four voted in a special City Council meeting not to move forward.
The City’s cooperation in forming a CFD is part of a contractual agreement with the developer, and to decline to do so is a breach of that contract. Without the CFD, the developer may choose not to move forward, in which case the other parties in the previously settled federal court litigation, Upstream and the Tribe can purchase Point Molate for $400.
There are other repercussions that very likely will cost the City millions in the short run and tens of millions in the long run.
This is truly a bonehead action by the RPA City Council members, unfortunately aided by the incompetent, unethical and corrupt Office of the City Attorney. Instead of getting direction from the City Council in a formal meeting, the city attorney drafted the resolution at the request of “a couple council members.”
What will happen next is anybody’s guess, but it is likely not be good for the City of Richmond.