Brian Edwards

The Board reviewed materials from a recent VML/VACO OPEB meeting, including market snapshots, returns expectations, and educational content on private credit. They adopted an Electronic Participation Policy to align with other county boards. The portfolio performance of the Pooled OPEB Trust Fund was reviewed. Additionally, the Board approved a new OPEB Funding Policy with a specific amendment requiring withdrawal requests to be presented to the Finance Board for approval and discussed logistics for future meeting times.

The Board meeting included recognition of the Henrico Police Athletic League Officer of the Year, the observance of Jewish American Heritage Month, and the commendation of various mental health and developmental services staff for their accomplishments in prevention services and vocational placement. Key agenda items included the adoption of a recodification of county ordinances, authorization for conservation easements and right-of-way acquisitions, and several ordinance vacations for various subdivisions. Additionally, the Board approved resolutions concerning development opportunity funds, revenue bond allocations, drainage and flood mitigation, and transportation-related projects, while also introducing amendments to the annual fiscal plan and fees for household refuse disposal areas.

This document provides an overview of the Central Virginia Transportation Authority's initiatives and projects, particularly highlighting new projects for 2026. The Authority's mission is to identify and fund transportation improvements to enhance the quality of life across its nine localities. Key focus areas include expanding and improving multimodal transportation options such as trails (Fall Line Trail), roadways (Route 5, Pole Green Road extension, Beulah Road relocation), passenger rail (overnight storage and servicing yard, expanded service), bus rapid transit (Pulse expansion), and critical infrastructure (Boulevard Bridge replacement). These efforts aim to create safer roads, better connections, stronger communities, and new opportunities for residents.

The meeting included a review of the VML/VACO OPEB Board meeting materials, specifically discussing the performance of Portfolio I relative to benchmarks, trends in asset classes, and long-term investment perspectives. Discussion also touched upon actual versus target allocations for opportunistic real estate and private equity investments, along with presentations regarding the Great Hill Fund IX and BroadVail Fund IV. Additionally, the board reviewed a snapshot of the County's investment in Portfolio I and clarified the County's current funding position.

The Board reviewed a summary of the VML/VACO OPEB annual meeting, noting the adoption of an electronic participation policy and reviewing presentations regarding OPEB trust account growth, financial market performance, asset allocation for portfolios, and real estate investment strategies. Additionally, the Board reviewed portfolio performance materials and discussed the upcoming annual report required for the Board of Supervisors.