Virginia weighing whether to establish stadium authority to handle new bids


The Virginia House of Delegates is considering whether it should establish a new authority designated specifically to stadiums.

According to the Washington Business Journal, this comes after the Virginia legislature considered last year whether to create a stadium authority — which would have bond-issuing authority governed by gubernatorial appointees — a motion which never passed.

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The new proposal stipulates that the Virginia General Assembly, not the stadium authority, would negotiate and have final say on a potential stadium deal, ensuring, per WBJ, "any package of potential incentives" is "developed in the best interest of Virginia taxpayers."

This proposal got its first reading on the House floor on Tuesday. It would give Virginia and the football team one year to iron out the details on a final deal.

This comes a year after Virginia considered but eventually let die a bill that would help finance a new stadium for the Washington Commanders.

Read the full story in the Washington Business Journal.

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