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The SBI confirmed Thursday that the agency began its investigation late last week following a referral from the North Carolina Attorney General’s Office.
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Part of the funding will support infrastructure improvements, as the city braces for growth tied to aviation manufacturer JetZero.
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The proposal includes adjustments such as potential changes to the operating hours for the city's library and parks.
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A dozen homeowners living in New Irving Park spoke out against the project at a city council meeting Tuesday night.
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Jonhson, who was Greensboro's first Black mayor, died at the age of 82 in December.
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The Council approved a resolution to rename a bridge to honor Sgt. Philip Dale Nix who was killed while off duty in 2023.
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The move paves the way for David Couch's development Christopher Village, which would bring more than 200 housing units to the area.
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The ordinance first went into effect in 2024 and defined what a short-term rental was among other things.
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Pinder will complete the term of Yvonne Johnson, which runs through the beginning of December.
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The council's procedural move is the first step as the city looks at ways to revamp its minority and women business enterprise program.