(Richmond, IN)--The Smith Hill development took another step forward Monday night.  Richmond Common Council gave unanimous approval to a bond issuance to help finance the construction of well over 150 new homes and townhouses in the area of Garwood and Backmeyer Roads.  EDC President Valerie Shaffer explained the importance of the bond issuance to council Monday night.  "But for you pledging this tax revenue, the development will not move forward.  This is an incredibly important part of the project, Shaffer said.  $4.3 million for the project has been requested from the state’s economic development corporation.