This Day in Henrico History: October 24 – Henrico approves financing agreements tied to Short Pump Town Center
On October 24, 2000, the Henrico County Board of Supervisors adopted an ordinance authorizing agreements associated with the proposed Short Pump Town Center development. The decision became part of a complicated debate over the public financing of a major shopping destination in western Henrico.
A later federal court opinion recounts that the developer initially received approval in December 1998 for a shopping center on undeveloped land near Interstates 64 and 295. The developer subsequently sought a community development authority, and the Board of Supervisors approved that petition in September 2000.
The October 24 ordinance authorized agreements involving a proposed $30 million subsidy mechanism for the project, according to the federal court’s account. The county’s later financial statements also identify that date as the adoption of an ordinance authorizing special assessments associated with the Short Pump Town Center Community Development Authority.
The financial arrangement did not proceed without legal challenges. The subsequent litigation and changes to the development plan underscore that the emergence of Short Pump as a regional commercial center involved not only private construction, but public decisions about infrastructure, financing and the county’s future growth.
Sources: https://law.justia.com/cases/federal/district-courts/FSupp2/198/744/2513390/; https://henrico.gov/pdfs/finance/pdfs/2011CAFR.pdf