Updated: Feb 21, 2013 6:49 PM
VIRGINIA BEACH, Va. (WAVY) — The Virginia House of Delegates passed an
amended arena bill, already approved by the state Senate.
The bill, sponsored by Del. Ron Villanueva, would permit the city to issue bonds to construct an arena and use tax revenue from the arena to repay those bonds.
In its amended form, the bill allows for the sales tax to be used toward arena bonds, but not the income tax.
If the bill becomes law, it will give the city of Virginia Beach the same rights currently held by the Hampton Roads Sports Facility Authority.
This bill comes after Virginia Beach officials debated building an arena to house an NBA franchise in the city. That deal fell through because team owners instead opted to play in Seattle.
Virginia Beach officials believe passage of the bill would put the city in a better negotiating position if a similar opportunity presented itself in the future.
The bill will now go to Gov. Bob McDonnell for consideration.
Copyright 2013 WAVY TV. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Did you like this article? Vote it up or down! And don't forget to add your comments below!
We welcome your thoughtful comments. Be the first to participate in the discussion. All comments will display your username and avatar.
Sign in or join now to post a comment. All comments will display your username and avatar.
Robert F. McDonnell
Secretary of State:
Click the links below to get in touch with your elected officials.
Copyright © 2009 – 2013 LIN Media. All rights reserved.
White House News | Videos |
Referendums | Offices |
Legislation | Opinion | Activity Stream
Terms and Conditions |
RSS Feed |