Council Adopts FY2022-23 Budget

From City Page at VBGov.com.

FY2022-23 budget has no increases to the solid waste fee, water service charges, sewer charges, stormwater charges, and avoids a real estate tax rate increase.

With the exception of a few fee increases for permits within the department of Planning and Community Development, the FY2022-23 budget and Capital Improvement Program (CIP) are supported through natural growth in citywide revenues. Below are some of the key elements in the upcoming budget.

Fitch Downgrades Westminster-Canterbury on Chesapeake Bay (VA) Rev Bonds to BB+

View analysis at Fitch.

On a forward-looking basis and assuming WCCB is able to proceed with the full scope of its capital plans, debt is expected to increase from $76 million to $496 million (or $508 million inclusive of it $12 million debt guarantee for the Senior Options Community’s acquisition of The Overture).

VIRGINIA BEACH VA DEV AUTH RESIDENTIAL CARE FAC REV Bond Detail.

CUSIP: 92774NAH3