Create new law allowing social impact bond financing for city programs
In Plain English
Social impact bonds let private investors fund city programs upfront, then get repaid only if the programs achieve specific results. The city currently has no legal framework for these agreements. If approved, Richmond could use this financing method for programs like job training or homelessness services without upfront budget risk.
Auto-generated summary. Source: official agenda documents.
Votes
Approve consent calendar
7 to 0
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