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Metropolitan DC Local Politics
Reply to "Wizards and Caps could be moving to Potomac Yard"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]The Axios piece today shows that DC could not overcome what Youngkin promised (and apparently planned in advance with Leonsis). Crime does not seem to be one of the factors for departure: https://www.axios.com/local/washington-dc/2023/12/14/capitals-wizards-stadium-virginia-how-it-happened[/quote] Leonsis’s portion of the 2B investment is only $403M. It’s really tough to complete with that. [/quote] It's impossible to compete with that. The state of Virginia and city of Alexandria are on the hook for the other $1.6B. What if tax projections don't shake out? The city of Alexandria will be on the hook to pay back the bonds out of their other tax revenues. Good chance this blows a massive hole in Alexandria's budget for decades down the road. I would not want to be an Alexandria taxpayer, small business, or parent reliant on the public schools. [/quote]
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