<http://schema.org/description>
"Construction on the improvements is on track for completion by the end of May, about four weeks ahead of schedule and $250,000 under budget.But there have been potholes along the way.Revenue that's supposed to pay off the bonds &amp;#151; mostly from parking fees collected within the authority's 10-block domain downtown &amp;#151; is falling short; parking revenues are $962,712 behind initial projections for the fiscal year ending June 30, according to the authority's financial statements.There are also unanticipated legal expenses related to a dispute over parking at the Marriott Hotel and miscellaneous costs, says Michael T. Laing, managing officer of ECI Development Services, which was hired by the authority to do the construction work and manage the parking lots.The gap is forcing the authority to dip into its $2.6 million reserve fund, Laing says. Over the next two years, he projects that revenue shortages will drain the fund by about $2.3 million, leaving it with a balance of $340,838 in 2007."^^<http://www.w3.org/2001/XMLSchema#string>
<http://posting.styleweekly.com/richmond/Tools/EmailFriend?oid=1361340>