Tenure
Upon taking office as mayor, Stoney commissioned a top-to-bottom performance audit of all city departments, conducted by the Wilder School of Government and Public Affairs at VCU, to be completed within 100 days of taking office with the aim of improving efficiency and address dissatisfaction with Richmond's government to create a more efficient administration.
In March 2019, Mayor Stoney proposed adding a 50-cent tax per pack of cigarettes, representing Richmond's first cigarette tax. The City Council approved the 2020 budget, which included a $17 million increase for Richmond Public Schools and over $15 million for street paving, and was not able to find a majority consensus on eliminating or decreasing Stoney's proposed cigarette tax, allowing it to pass with the budget with projections it would generate over $3 million annually.
On September 3, 2020, Stoney presented the keys to three new schools—Cardinal Elementary, Henry Marsh Elementary, and River City Middle—to their principals after construction that was financed thanks to funding from a 1.5% increase in the meals tax he had proposed. The new schools were described as much needed addition to Richmond Public Schools and featured specialized facilities such as science labs, art and music classrooms, and "calm down" rooms, contributing to enhanced learning environments for Richmond students.
In another effort to support the Richmond Public School System, Stoney passed the "Pathways Program" which pays for any Richmond Public School student's tuition at J. Sargeant Reynolds Community College beginning fall 2023. Additionally, the Stoney administration was able to increase local contributions to the public school system by 46.1% since the 2017 fiscal year while also investing in the Positive Youth Development & Youth Violence Prevention Fund for 12–19 year olds in the area.
The fiscal year 2025 budget brought total local contributions to Richmond Public Schools to $239.3 million, an increase of 58%.
Stoney made expanding out-of-school programming to reach every elementary and middle school student a priority during his campaign and maintained the commitment in office. In 2018, Stoney announced the expansion of Richmond Public Schools to allow all 33 Richmond Public Schools (RPS) elementary and middle schools to provide every students with transportation to and from the programs. The expansion was funded by local nonprofits and the private sector. By 2020, after-school programming was available at all Richmond elementary and middle schools at least twice a week focused on arts, science, athletics and more provided by the Boys & Girls Clubs of Metro Richmond as part of a partnership with a local nonprofit, NextUp RVA, with transportation provided by RPS.
In 2022, Stoney launched the Positive Youth Development Fund initiative as part of Richmond's broader gun violence prevention strategy. The fund, which incorporated American Rescue Plan Act funding, provides financial support to community-based organizations that offer programs aimed at keeping youth engaged and providing safe, constructive environments driven by the need to address the root causes of youth violence through educational and recreational opportunities, particularly during out-of-school time. In its first year, the fund awarded $1 million through NextUp RVA to combat youth violence and improve safety in addition to funding to the Carol Adams Foundation to fund a summer camp, supporting summer camps and other youth-oriented programs across the city.
By 2024, the Positive Youth Development Fund had distributed nearly $500,000 in additional grants to over 40 nonprofit organizations. These grants are used to enhance youth programs focusing on arts, education, athletics, and mental health resources, with the goal of breaking cycles of violence and fostering positive development for children in vulnerable communities. The fund is part of a larger city initiative to reduce violent crime, which decreased 22% under Stoney as funding for Richmond Public Schools and expanded after-school programming increased.
In July 2020, Stoney announced the formation of a task force to "reimagine" public safety with 20 members tasked with reviewing the city's law enforcement policies to recommending changes. The initiative aimed to promote transparency and improve public safety by addressing key issues including the Richmond Police Department's use of force policies and the broader need for reform in Virginia's law enforcement practices.
After three months of review, the Task Force presented 15 recommendations focused on police accountability, use of force training, enhanced mental health resources, and greater community engagement. The recommendations aimed to improve the relationship between law enforcement and the Richmond community, emphasizing the need for a more accountable, transparent, and community-oriented approach to public safety.
In 2022, Stoney proposed the creation of an independent Civilian Review Board (CRB) in Richmond to oversee the police department, an initiative that was later approved by the City Council. The CRB, established in response to recommendations from the Public Safety Task Force, aims to increase oversight and accountability within the Richmond Police Department.
The board, consisting of eight members, will review officer misconduct, internal investigations, and provide policy and disciplinary recommendations. With a focus on enhancing police transparency and public safety, the CRB will require a five-member majority to advance any proposed actions.
Addressing the city's affordable housing crisis was a key priority for Stoney upon taking office and he set out a goal of building 1,000 new affordable housing units per year. In 2024, Stoney announced that the city was exceeding the goal and adding new units more rapidly than expected to manage the crisis.
Stoney announced Virginia's first eviction diversion program during his 2019 state of the city address unveiling a 20-year action plan to combat an "eviction pandemic" in the city of Richmond. This came following an article in the New York Times published data which named Richmond as number two in the nation for evictions at the start of his term. The program provides cash assistance, legal aid assistance, and financial literacy education for those in the process of being evicted and aimed to develop more affordable housing over the next five years. In its first five months, the program had helped 122 residents avoid eviction. In 2024, Stoney stated that the program had helped more than 1,600 families avoid eviction.
Since Stoney took office, Richmond had built 5,000 new affordable housing units. Stoney has set a goal of creating 1,000 new affordable rental units per year. In a public-private collaboration, the Richmond Redevelopment and Housing Authority (RRHA) worked with a nonprofit developer to redevelop one of its properties for redevelopment to expand homeownership opportunities. The project was initiated with groundbreaking ceremony in August 2022. The project, divided into three phases, was expected to cost around $22 million per phase with initial funding coming from funded by Virginia Housing through its Low-Income Housing Tax Credit Program, and other state and department grants. The redevelopment followed a 'build first' approach, ensuring new housing is constructed before relocating current residents. In April 2023, the Richmond City Council finance committee approved over $20 million to advance the next phase of the project.
Further efforts to redevelop other areas, including Gilpin Court and Jackson Ward, were initiated with a focus on increasing affordable housing and engaging residents in the planning process. In 2021, Stoney proclaimed April 17 as "Giles B. Jackson Day" recognizing all of Giles B. Jackson's accomplishments, and it was awarded on the 150th anniversary of the historic Jackson Ward neighborhood.
In 2023, Stoney proposed two affordable housing projects in South Richmond. His administration also utilized its grant program to offer tax breaks to a developer to add affordable housing as part of a planned development in Manchester. This followed the city's $65 million housing project in Manchester announced in June 2023 which would have "locked" "base rates" for 30 years.
Stoney's 2023–2024 city budget included $50 million towards developing affordable housing in Richmond City. On November 1, Stoney and the Local Initiatives Support Corporation (LISC) announced that the LISC would match the city's $50 million to create a "historic" $100 million budget to help build more affordable housing. The investment was expected to help supercharge the city's efforts to build 40,000 new needed units of affordable housing.
During a press conference on March 28, 2023, Stoney and City Council members declared a housing crisis in Richmond and called on state legislators to provide assistance and relief as well as nonprofit organizations to help develop solutions for the lack of affordable housing available. A resolution officially declaring the city in a housing crisis passed on April 10. This followed an announcement by the mayor that he had allocated $50 million over the next five years towards developing new affordable housing in the city to tackle the city's longterm housing crisis.
In January 2023, at a United States Conference of Mayors discussion with other major city mayors on the affordable housing crisis, Stoney discussed Richmond's efforts to address the crisis and expressed frustration with dealing with out-of-town investors low-value offers and their inadequate care of property acquired in the city.
For the 2023–2024 fiscal year, Stoney proposed a $3 billion city budget. This came after listening to the public in order to make the government more effective and efficient. Under this new proposal, many city employees would receive pay raises, including a 5% pay raise for almost all police officers and firefighters in the city. Non-sworn employees would receive an 8% salary increase. The wage increase was funded by a $9 increase in utility costs for city residents. Stoney aimed to ensure that no hourly-paid employee working for the city government would be paid less than $18 per hour.
As part of the budget, $21.1 million would also be allocated to public schools and $50 million would be allocated towards developing affordable housing over a five-year time period. The budget also allocated $50 million towards a capital improvement program for the city and an additional $15 million towards restoring the William Fox Elementary School and $21 million towards new transportation infrastructure.