New Coliseum plan to launch Monday?
Jeremy M. Lazarus | 6/21/2019, 6 a.m.
Will this be the City Council meeting at which Mayor Levar M. Stoney introduces ordinances on the Richmond Coliseum replacement plan?
That has been the question since Mayor Stoney announced in November that he was negotiating a $1.4 billion development deal involving a new arena with a private group led by Dominion Energy’s top executive, Thomas F. Farrell II.
Ever since, one of the most important items at council meetings has been the list of introduction papers that the City Attorney’s Office distributes.
And that will be the case Monday, June 24, when City Council is scheduled to meet again, particularly with the mayor remaining mum on the status of the negotiations on the massive proposal.
Among other things, the Farrell-led Navy Hill group has outlined plans for a convention hotel, 2,800 apartments and new office buildings and retail shops and restaurants on mostly city-owned land near City Hall along with a new coliseum.
However, critics who have reviewed figures released by the developer and the city have publicly questioned whether the city and its taxpayers can afford to strip the general fund of dollars to repay the projected $220 million to be borrowed to build a new coliseum.
The Free Press has received mixed signals about whether this will be the meeting.
One insider said that final wrinkles have been ironed out between the city and the private group and that the required papers are to be presented Monday night. But another suggested that might not be the case.