Podcast

In part 1, we explored how Petersburg nearly went off the rails when it faced financial ruin just a few short years ago. In part 2 we spend some more time with Mayor Samuel Parham, City Manager Aretha Ferrell Benavides, Deputy City Manager Lionel Lyons and Economic Development Manager Clay Hamner as they discuss some recent good news and their hopes for the future of the city that is now back on track.

In the fall of 2016, the City of Petersburg was on the precipice of a major financial crisis. Two weeks ahead of a million-dollar payroll, the City held only $75,000 in funds. Tax collections were below 60%, water utility rates were below competitive market rates, and the Treasurer’s office was under scrutiny by the FBI. The city had a six-million dollar deficit and a Standard and Poor’s bond rating of BBB.