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NRHA Board Approves $89.3 Million Budget for FY13

  •     Continue to provide a full range of development and housing programs to Norfolk citizens and neighborhoods;
  •     Eliminate 23 full-time positions (11 filled, 12 unfilled);
  •     Provide a 2.4% general pay increase, the first general increase NRHA employees have received in five years;
  •     Absorb the cost of a state-mandated 5% individual employee contribution to the Virginia Retirement System (VRS) pension program; and
  •     Use $2.3 million from operating reserve accounts to close funding gaps created by reductions in federal financial support.

NRHA’s FY2013 budget funds programs from July 1, 2012, through June 30, 2013.

About NRHA
Founded in 1940, NRHA is a national leader in community revitalization and fostering sustainable mixed-income communities. As the largest redevelopment and housing authority in Virginia, NRHA plays a key role in making Norfolk the city of choice to build, work, play and live.

For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2012/6/prweb9603467.htm

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