Economic Vitality Incentive Program

Public Act 63 of 2011, signed into law on June 21, 2011, introduced the Economic Vitality Incentive Program (EVIP). Each city, village, or township that received a FY 2010 statutory payment greater than $4,500 and fulfills the specific requirements for all of the three categories will be eligible to receive a maximum of 67.837363% of its FY 2010 total statutory payment (rounded to the nearest dollar). An eligible city, village, or township will receive 1/3 of the maximum amount for each of the three categories they fulfill the specific requirements for. The three categories are Accountability and Transparency, Consolidation of Services, and Employee Compensation.

I. Accountability and Transparency 
Under the EVIP, all cities are required to make public a Citizen's Guide and Performance Dashboard.  To view the City of Richmond's Citizen's Guide, Projected Budget and Debt Obligations please CLICK HERE (this will download an Excel spreadsheet). To view the Performance Dashboard please CLICK HERE.

II. Consolidation of Services
Under EVIP  the State's Economic Vitality Incentive Program, all cities are required to make public a Consolidation Plan.  The plan includes ongoing areas of cooperation, updates on areas of cooperation listed in last year's EVIP plan and new consolidations for 2014.  To view the Consolidation Plan please CLICK HERE.

III. Unfunded Accrued Liability Plan 
Under EVIP, all cities are required to provide an Unfunded Accrued Liability Plan. To view the City of Richmond's FY 2014 Unfunded Accrued Liability Plan please CLICK HERE.