The Christmas Parade, Bus Patrol Margins, and Investment Firm Homebuying
Cheers RVA!
Today will be sunny but chilly, with a high of 40 and evening temperatures dropping all the way down to 19. The weekend looks a bit warmer, with a potential high of 63 on Sunday.
the juice:
The 41st annual Christmas Parade takes place Saturday morning on Broad Street, with Olympic gold medal winner Charlie Swanson serving as the grand marshal.
The parade begins at 10:00 am at the Science Museum and runs east along Broad St. to 7th St. near the Coliseum.
‘Christmas Wishes’ is the theme of this year’s parade, with nearly 100 organizations participating, including the VCU Peppas and Legendary Santa.
the pulp:
The community townhall held last night to discuss a new Rosie’s in Henrico was packed by hundreds of residents eager to share their voice against the move, from WWBT. Senator Schuyler VanValkenburg and Brookland District Supervisor Dan Schmitt spoke to the crowd saying while their hands were tied, they are still pushing for a path forward.
At every single turn, they navigated a pathway to avoid hearing you,” said Brookland District Supervisor Dan Schmitt.
Drivers in Richmond have paid more than $4 million in fines for illegally passing Richmond School buses, but the School District has only received $465k during that period, from WTVR. Tickets are set at $250 by the General Assembly, with 40% going to the school district and 60% to Bus Patrol, the company that operates the Bus Stop Arm Enforcement Program. However the company also charges $37k monthly in technology fees, resulting in the School District receiving only 12% of all fines collected.
the dive:
Charlotte Rene Woods from the Mercury dives into the purchase of homes in Virginia by large investment firms and what State Senator Glen Sturtevant wants to do about it.
According to data from Redfin, investment firms purchased one of every six homes and one of four low-price homes sold nationwide in the 2nd quarter of this year.
After a failed attempt last year, Sturtevant is working on a bill that would prevent investment firms worth more than $50 million from purchasing homes.
Sturtevant also pointed out how investment firms can sit on properties rather than redeveloping them or selling them, with a team of people analyzing the best moment they can sell for the highest price, despite having an advantage over individual buyers when acquiring the property in the first place. “It’s ultimately not fair for them to be competing with regular people,” he said.
Read the full article here.
the vibe:
Have an enjoyable day RVA!
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