ALEXANDRIA, Va. — As the future of a possible sports and entertainment arena in Potomac Yard remains in limbo, the Mayor of Alexandria is staying hopeful.
"Whether this is the use or something else is the use, Potomac Yard is going to develop and it's going to be a significant amount of density on this site," said Alexandria Mayor Justin Wilson.
He told WUSA9 Monday night, he hopes the growth there will be 'monumental'.
"We believe this is an opportunity that not only achieves the vision of North Potomac Yard in an accelerated manner. It also achieves it in a way that is reflective of the times that we are in in the post-pandemic world. We planned a lot of office space for this area and that's office space that's not gonna be developed, and so I think as we look for how we're gonna find the resources to pay for our schools, to pay for our public safety, to pay for human services and transportation, having uses of non-residential uses that are not office buildings, those are particularly attractive and that's why this use is being considered," said Wilson.
Virginia's Senate Finance Committee met Monday morning, but a piece of legislation that was expected to be a topic of discussion wasn't even on the docket. The legislation had proposed creating a sports authority that would issue more than a billion dollars in bonds to build a sports and entertainment district for the Washington Wizards and Capitals near the Potomac Yard Metro station. Monumental Sports and Entertainment, the teams' parent company, would have to repay the loan from the revenue it generates.
Monday was the deadline by which the bill needed to be heard and advanced to the full Senate if it had a future, but senators made it clear they weren't interested in moving forward.
Sen. Louise Lucas (D-District 18), the committee chairwoman, explained that the Finance Committee has concerns about using taxpayer money for the arena, and Gov. Glenn Youngkin's "refusal to negotiate."
"I will not allow a billionaire to build his company's wealth on a taxpayer's dime," Lucas said.
Monday night, Mayor Wilson said this deal is actually a win for the taxpayers.
"Monumental is going to provide a $400 million upfront payment. Then, they are going to pay rent throughout the term of this agreement and almost all of the money that is used to service the debt that's being issued to finance this arena and other facilities is debt that is paid back by visitors here," said Mayor Wilson.
He went on to explain that money comes from visitors of the arena, people who are buying tickets and paying for parking.
"That is what is financing that debt. So it's debt that is paid off by private contributions, customers of this area. Not taxpayers of the city of Alexandria, not the taxpayers of the Commonwealth of Virginia," said Wilson.
The Appropriations Committee of the Virginia House of Delegates voted to send legislation to support the creation of a sports and entertainment district in Alexandria, but a lot more needs to happen before the "monumental" project can move forward.
House Bill 1514 passed Friday with a 17-3 vote in favor of the project that would bring the Monumental Sports Complex to Virginia. According to the legislation, the bill establishes the Virginia Sports and Entertainment Authority as a political subdivision charged with financing the construction of a sports and entertainment campus.
Wilson told WUSA9 the city has been focused on getting as much information out to the public as possible. They just completed four listening sessions that focused on different topics of interest regarding the proposal.
"We're now gonna do a whole series of pop-ups trying to bring that message out to the community to learn more.," said Wilson.
As for what happens next, Mayor Wilson says he's staying positive, but says you can rest assured that they will find a way to bring new development to Potomac Yard.
"If this doesn't pass we would have to go back to the drawing board and find another proposal. I think we're committed to working through this process, working with the legislators to seize this opportunity and work with our community to make sure it protects what makes the City of Alexandria such a great place to live," said Mayor Wilson.
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