Comments on: Church Hill Association Says No To Shockoe Development http://hillsandheights.org/2009/02/18/church-hill-association-says-no-to-shockoe-development/ Breaking News, local events, and community gardens from Forest Hill to Woodlands Heights in Richmond, Virginia Wed, 23 May 2012 02:43:02 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: tvnewsbadge http://hillsandheights.org/2009/02/18/church-hill-association-says-no-to-shockoe-development/#comment-8442 tvnewsbadge Thu, 19 Feb 2009 00:11:18 +0000 http://hillsandheights.org/?p=1266#comment-8442 The Coliseum, Marriott, Sixth Street Marketplace, Champions Sports Bar. Remember when those, individually and collectively , were going to "save" downtown Richmond. It was ironic that once of the developers (I assume he was anyway, I missed the introductions) was on Doc's show on WRVA radio today bashing the Coliseum, claiming that structure was one reason Richmond is not a "sports" town. It wasn't so long ago when other developers were singing a different tune. TvNB The Coliseum, Marriott, Sixth Street Marketplace, Champions Sports Bar.
Remember when those, individually and collectively , were going to “save” downtown Richmond.

It was ironic that once of the developers (I assume he was anyway, I missed the introductions) was on Doc’s show on WRVA radio today bashing the Coliseum, claiming that structure was one reason Richmond is not a “sports” town.

It wasn’t so long ago when other developers were singing a different tune.

TvNB

]]> By: Carolyn Paulette http://hillsandheights.org/2009/02/18/church-hill-association-says-no-to-shockoe-development/#comment-8439 Carolyn Paulette Wed, 18 Feb 2009 18:01:41 +0000 http://hillsandheights.org/?p=1266#comment-8439 It was also interesting that the main reason given by residents for voting against the project was the funding behind the project, $70 million in sales and property taxes to be collected to pay back the bonds in the future. Also, the problem of the City's moral obligation to step in to pay back the bonds if the venture fails and even the sale of the baseball park will not cover the bond debt. Taxpayers will be on the hook as in so many other ventures. City Council needs to think long and hard and give some well-supported financial plans before they approve this "sweet deal" for the developers. See this week's Style magazine for an extensive analysis of the ballpark's funding. Also, read the discussion on the blog site, Buttermilk and Molasses. If you want to hear a presentation by the devel- opers, go to the meeting next Tuesday, 2/24, at Albert Hill School, 7-8pm. It was also interesting that the main
reason given by residents for voting against the project was the funding behind the project, $70 million in sales and property taxes to be collected to pay
back the bonds in the future. Also, the
problem of the City’s moral obligation to
step in to pay back the bonds if the venture fails and even the sale of the
baseball park will not cover the bond
debt. Taxpayers will be on the hook as
in so many other ventures.

City Council needs to think long and hard
and give some well-supported financial
plans before they approve this “sweet
deal” for the developers. See this week’s Style magazine for an extensive analysis of the ballpark’s funding.

Also, read the discussion on the blog
site, Buttermilk and Molasses. If you
want to hear a presentation by the devel-
opers, go to the meeting next Tuesday,
2/24, at Albert Hill School, 7-8pm.

]]>