Richmond Free Press January 3-5, 2019

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Meet chair of Richmond Police stable project B1

Richmond Free Press © 2019 Paradigm Communications, Inc. All rights reserved.

VOL. 28 NO. 1

RICHMOND, VIRGINIA

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Foremost wishes for 2019 A3

January 3-5, 2019

Roadblock Mayor’s $1.4B Coliseum plan hits a financing snag By Jeremy M. Lazarus

The plan to replace the Richmond Coliseum with a new arena in Downtown appears to be running afoul of the Virginia Public Finance Act. That state law bars local governments from using real estate and other taxes to repay revenue bonds, the type of funding that Mayor Levar M. Stoney prefers in efforts to ensure the city would not be stuck with the bill if the new arena is less successful than projected. Real estate taxes can be pledged to repay general obligation bonds, but that would require the city to be on the hook for the repayment. Revenue bonds are defined as using a specific revenue stream for repayment. The city Department of Public Utilities uses such bonds to borrow money for new pipes for water, sewage and natural gas. DPU repays those bonds from income it receives from customers. The financing issue may be a key reason the city remains in talks with the Navy Hill District Corp., led by Dominion Energy’s top executive Thomas F. Farrell II, and why Mayor Stoney appears to be stymied on letting Richmond City Council review the planned $1.4 billion project. The project calls for borrowing to build a new $220 million arena and having private investors develop 2,900 new apartments, along with two hotels, new office buildings, restaurants and other commercial operations on nearby city property to help repay the arena’s debt. But two reports, one done for the Navy Hill

District Corp. and the other by a city consultant, have shown the revenue from the project area would not be enough to ensure investors are comfortable in buying bonds. To generate more tax dollars for debt repayment, the mayor has talked about creating an 80-block Tax Increment Financing District, or TIF, and using tax income from the projected increase in real estate property values as a main source of repayment. Taxes collected from the base value of the property would go to the city treasury, while the TIF would collect any increase in real estate taxes above that base value. That financing approach was outlined in a report that the city’s financial adviser, David P. Rose of Davenport & Co., issued in November. In the report, Mr. Rose stated that the “public portion of the project will be funded from nonrecourse revenue bonds” to be repaid from growth in real estate taxes in the TIF District and new sales tax, parking revenues and other income and taxes created in the arena project area. The public elements are mainly the proposed 17,500-seat arena and the three-story Blues Armory at 6th and Marshall streets, which is to be converted into a food market, with entertainment center on the second floor and a ballroom for the proposed hotel on the third floor. The non-recourse bonds he referred to means that investors who buy the bonds would not be able to sue the city if they lost money. Mr. Rose did not mention the roadblock that

Ava Reaves

Ringing in the new year Confetti rains down on 2,500 youngsters and their families gathered at the Science Museum of Virginia to ring in 2019 early — at noon on Monday. Youngsters, including Aleyah Michael, 4, left, and Brycen Woodson, 5, made wearable decorations for the “Noon Year’s Eve” celebration, which featured a giant party ball, music, countdown, noisemakers and a parade. Youngsters also could sign a huge banner with their resolutions for 2019.

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Absence marks Emancipation Proclamation Day service By Jeremy M. Lazarus

Jan. 1 marks one of the greatest days in American history — the day when President Abraham Lincoln issued the Emancipation Proclamation to abolish slavery amid the raging Civil War. But the yearly celebration of the great freedom edict on New Year’s Day has begun to flag in Richmond, the former capital of the Confederacy. For the first time in memory, not a single elected city official or General Assembly representative took part in the service to mark the 1863 proclamation, which gave black people new hope that the country would live up to its promises of freedom and equality; transformed the war into a crusade against slavery; enabled the Union to secure victory through enlistment of

black troops; and led to the passage and ratification of the 13th Amendment to abolish human bondage in the United States. The only public official who participated in the service at Fifth Baptist Church in the city’s West End was Jenefer S. Hughes, commissioner of

revenue for Chesterfield County. “I wouldn’t have missed it for the world,” said Ms. Hughes. But it wasn’t just public officials who blew off the 80th annual event to mark the occasion and rally the community to re-commit to addressing today’s challenges to full freedom.

Among the missing were most of the 180 members of the Baptist Ministers’ Conference of Richmond and Vicinity, which hosts the event. Only about 30 ministers attended Tuesday’s service. Also missing were the presidents of the NAACP branches in Richmond

and surrounding counties. The local branches were the beneficiaries of the offering collected at the service. The once long list of ministers and churches pledging ahead of the service shrank this year to six churches and Please turn to A4

New Virginia license plate honoring Dr. King? By Jeremy M. Lazarus

Can Delegate Dawn M. Adams find 450 Virginians willing to pay $25 to $35 for a specialty license plate honoring Dr. Martin Luther King Jr. by Monday, Jan. 7? That’s the challenge the Richmond Democrat is facing as her first step to securing General Assembly approval for a new plate honoring the civil rights icon whose birthday will be celebrated as a national holiday on Monday, Jan. 21. A legislative rule requires a sponsor to show a minimum of 450 purchasers of a specialty plate in order to have a bill to authorize the plate to be considered. Please turn to A4

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Training sessions aimed at developing new employees for East End market By Ronald E. Carrington

Pamunkey Indian Tribe via Associated Press

This artist rendering shows a proposed casino, right, along the Norfolk waterfront.

Tribe seeks to build Va.’s first casino in Norfolk Free Press wire report

NORFOLK The Indian tribe that greeted English settlers at Jamestown and claims Pocahontas among its lineage said recently that it hopes to open in Norfolk what would be Virginia’s first casino. Pamunkey Indian Tribe spokesman Jay Smith said the tribe is eyeing about 20 acres along the Elizabeth River between Harbor Park, the Norfolk Tides baseball stadium, and an Amtrak station near Norfolk’s downtown. Negotiations are underway with officials in Virginia’s secondlargest city. The Pamunkey announced plans in 2018 to build a $700 million resort and casino in its ancestral region. The tribe says that Please turn to A4

Ronald E. Carrington/Richmond Free Press

Micah White with CARITAS Works leads a recent training session on customer service and personal development at Cedar Street Baptist Church of God.

A new East End market promises to bring employment and opportunity to a longtime food desert in the city. The Market @ 25th, scheduled to open in March at 25th Street and Nine Mile Road, will fill many voids in the neighborhood, including the need for long-term, large-scale employment. Attached to the store will be a VCU Health Hub providing health screenings and information for people who live in the community. Since November, CARITAS Works has been providing a special eight-week training for 50 low-income and/or formerly incarcerated people recruited to work at The Market @ 25th. The training is held at the nearby Cedar Street Baptist Church of God, where two classes each with 25 applicants participate Please turn to A4


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