Virginia Beach city leaders will consider raising the resort city’s hotel tax by one percentage point to pay for the construction of a proposed new arena at the Oceanfront.
The economic development director worked with management from Comcast Spectacor to develop the proposal for tonight’s city council meeting.
Comcast Spectacor managers believe the hotel tax hike is just one way to help generate millions that will be needed to build the 18,000 seat facility.
Some city leaders want to build the new arena to relocate a professional sports team to the state’s largest city – many have speculated that the unidentified pro team is the NBA’s Sacramento Kings.
Still under this proposal – Virginia Beach and the state will be responsible for all of the construction costs.
Early estimates to build the new arena are around $350 million.