Hills & Heights
Local Meeting to Talk Navy Hill aka Coliseumpalooza
On October 28 at 6 pm at Huguenot Community Center, city staff, along with Navy Hill District Corporation will be presenting the Navy Hill project to the 4th district.
From Councilperson Kristen Larson:
On October 28 at 6 pm at Huguenot Community Center, city staff, along with Navy Hill District Corporation will be presenting the Navy Hill project to the 4th district. Members of the Navy Hill Development Advisory Committee will also be present to introduce themselves to residents. Please come to learn more details about the project and the city’s process leading up to the final vote. I encourage you to join in the conversation whether you are for or against this development. Your questions and insight are critical in setting the direction of our City. If you would like to view documents related to this project, please visit this website for presentations on Navy Hill.
One topic to bring up might be this latest development brought to our attention by Richmond BizSense.com.
But Navy Hill’s financials – specifically those relating to a proposed tax-increment financing district that would be used to help fund the arena – are based and rely heavily on an assumption that a second Dominion tower will indeed be built, as council members were told at a work session last week.
If the second tower is built, its inclusion in the TIF district would help the city pay down more than $300 million in revenue bonds that the city would float to fund the new arena.
