Read on Twitter
Two big (literal) developments in greater Richmond yesterday: #RVA launched a survey for #RVACasino, and Henrico is taking on their version of the Navy Hill arena project in #GreenCity. A couple of thoughts!
#Thread
1/
#Thread
1/
First, the casino: the survey is pretty much hot garbage. It's a a cheerleading instrument, with a list of benefits masquerading as a survey. No questions about concerns, costs. Essentially: "Will the new casino be awesome, awesomer, or awesomest?"
2/
https://www.surveymonkey.com/r/ZT297J6
2/
https://www.surveymonkey.com/r/ZT297J6
To be fair, though, state has determined process. For ex, RVA can't choose location w/o proposals. Casinos are widely seen as growing cash-cow business, good for tourism & taxes. Supposed to bring in fancy tourist $$, not prey on low-income folks
3/
https://www.rva.gov/economic-development/resort-casino
3/
https://www.rva.gov/economic-development/resort-casino
Still, this is starting as a top-down process, with not a lot of consideration of what people want or whether they even want it. If the Mayor learned anything from the Navy Hill debacle, he isn’t able to show it yet
4/ https://twitter.com/MrLegacyJones/status/1333821010991312898?s=20
4/ https://twitter.com/MrLegacyJones/status/1333821010991312898?s=20
Good (?) news: casino requires referendum in Nov '21! Last year, 4 VA localities chose casinos by large margins. This fall will not have the voter turnout that 2020 did, so hard to predict results. Still, as usual, the momentum will be on the developers’ side
5/
5/
As for Henrico #GreenCity announcement, best to wait & see. So far following blueprint, so currently in 'fanfare' stage with promises of jobs & "vaportecture" pix. Not much in details: but talk about how "human settlements have evolved"
6/ https://twitter.com/ternary_logic/status/1333827425634029572?s=20
6/ https://twitter.com/ternary_logic/status/1333827425634029572?s=20
Later will come bad news about costs/changes. (No possible downsides discussed in breathless Henrico Citizen report, essentially NH Corp press release; developers have to be happy with PR efforts so far.) Arenas are expensive! Not easy to cover costs
7/ https://www.henricocitizen.com/articles/greencity/
7/ https://www.henricocitizen.com/articles/greencity/
Still, could end up being good deal for county. Relies on funding mechanism that uses future revenues from project to fund it. Unlike #NavyHill, project enough revenue from site to eventually pay for itself. No need to grab existing tax revenues!
https://twitter.com/BenFTeresa/status/1333815909857812482?s=20
8/
https://twitter.com/BenFTeresa/status/1333815909857812482?s=20
8/
Same finance structure Henrico used to build up Short Pump, which is successful in terms of tax revenue (though not good for people who hate soul-sucking retail corridors). Still, Short Pump didn’t have that expensive arena - that's Henrico's big bet here
9/
9/
No matter what, Henrico offers better deal for developers - existing site on cheap land, fewer political pressures w/ different political/racial structure. County will face the same Qs RVA did (and any big devl does) - costs, "impact" and equity. It’s their turn now
10/
10/
And, as always, local politics will continue to revolve around land use. It’s what we do. More here:
http://www.rvapol.com/blog/2020/12/2/rva-area-development-deals
11/End
http://www.rvapol.com/blog/2020/12/2/rva-area-development-deals
11/End
