RICHMOND, Va. — Monumental Sports & Entertainment and the Virginia governor both had a win Tuesday, when legislation they've backed passed the Virginia House of Delegates with bipartisan support.
HB 1514, the Virginia Sports and Entertainment Authority and Financing Fund introduced by Del. Luke Torian, was presented Tuesday for a third reading and passed 59-40 upon vote. The bill proposes 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, the teams' parent company, would have to repay the loan from the revenue it generates. But based on the nature of the bonds used to finance the proposal, if Monumental was unable to pay it back, the full loan would fall to taxpayers. Monumental has said that scenario is extremely unlikely.
"Following the MEI Commission’s unanimous approval in December, the bipartisan vote in committee and today's bipartisan support on the House floor, the more decision-makers learn about this project the more they realize that the positive impact reaches all corners of the Commonwealth,” Gov. Youngkin wrote in a statement reacting to the bill passage.
Neighbors protesting the move have organized The Coalition to Stop the Arena at Potomac Yard to express concerns surrounding transportation and traffic, taxpayer financing and overall transparency surrounding the deal between Monumental and the city of Alexandria.
“Today’s vote was definitely not a show of strength," Alexandria resident Jonathan Huskey said. "We believe the Virginia General Assembly will ultimately side with residents who oppose this project, but make no mistake, we are in this to win. This is a plan no one asked for and never made sense."
Some members of the House admitted the bill still needs work if it's going to have a future. The delegate who represents Alexandria, Charniele Herring (D), said she voted yes "to allow the debate to continue."
"While there is much more that needs to be worked out here in the city and among private parties... I'm voting yes today to allow the debate to continue and to allow this bill to get better as it goes through the process before making my final decision," Herring said. "Ultimately no matter how good the opportunity is, we much make sure we're protecting the interest of the people in the Commonwealth of Virginia and the people of Alexandria."
The legislation will now be sent to the Virginia Senate for review, where several key lawmakers have already said they would vote it down, due to lack of confidence in Leonsis.
"If he's willing to renege on the lease on the folks in D.C., what's to say he wouldn't do that to us," Sen. Louise Lucas (D-District 18) asked. "I'm not willing to take those risks, not under my watch."
A version of the same legislation was effectively killed in the Senate on Monday, when the Senate Finance Committee, which Lucas chairs, declined to bring it for a vote before the committee. Lucas has been outspoken about her overall disdain for the proposal from the beginning calling it a "half-baked Glenn-dome."
The last day for any legislative action is March 9, so Monumental's supporters -- including Youngkin -- and opposition will likely spend February negotiating back and forth with politicians, and continuing to solicit input from community members.
“Today’s vote is an important milestone in the efforts to bring a sports and entertainment district to Potomac Yard,” Alexandria Mayor Justin Wilson said. “Adoption of this legislation will allow the residents of our City to be able to consider this project, based on the merits of the proposal and the benefits it would bring to our community.
The House bill also has a specific addition requiring the General Assembly to vote on it again next year to move it forward.
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