Beach leaders discuss taxpayer impacts of proposed arena

A company wants to build a $200 million sports arena in the City of Virginia Beach for free. But the city is still going to have to pay to get the whole area ready for this multi-million dollar arena.

The arena would boost the year-round economy of the city. Right now it will cost the city $ 52 Million and could reach as high as $79 million.

Earlier this year, the city accepted a proposal from a company called USM to build a sports and entertainment arena near the city’s convention center.

The building would have more than 18,000 seats spread across 550,000 square feet. I could host basketball, hockey and concerts. It would cost $200 million dollars. But unlike other arena proposals, the company building it would put up the money. In turn, the company would keep some of the taxes the arena generates along with a slice of the city’s hotel taxes.

The city, however, would have to pay for all of the utility and street improvements needed for the arena.

The site plan does not include a parking garage. The planners envision spreading the parking through several Oceanfront lots, including private ones.

Council members seemed thrilled with the idea and thought it was time to move forward.

UPDATE: Beach city council picks United States Management arena proposal

Proposal submitted for 18,000-seat arena in Virginia Beach

9 comments

  • Mike hunt

    Time to confiscate all private property in the area under imminent domain then lowball the people with under prices. For their houses

  • dont blame me i voted for moss

    no no and no. time to send slick willie, spore the pimple, uhrin-al, and the rest of those scumbags on city council packing. no one wants this nonsense.

    • Adam

      You get no cut just like the cavalier project but you better believe Sessoms and Thompson will be raking it in on our dime.

  • Let's be real, here....

    More noise, more outsiders, more traffic….now that’s JUST what we need.

  • Frank Papcin

    the mayor was just crying poor mouth–and HAD TO RAISE OUR TAXES–but has plenty of money for this.
    even giving this company a tax break and part of WHAT MONEY GENERATED IN OTHER PLACES?
    but what else would you expect from a democrat that doesn’t care?–IT’S NOT HIS MONEY
    this guy even sold out the republican party for personal gain–or is it for town bank’s gain–and he wants control of the taxes on the roads –HRTA?

  • steve

    The first clue is that they approved this before finding out how much it would cost. In the business world, they would be fired.

    And there’s another clue – we have to pay for improvements then the company gets “a slice” of some of the city’s tax revenue. Translation – Virginia Beach residents need to brace themselves for higher taxes as if they aren’t high enough already. No way is VB city council going to cut spending to the company’s “slice”.

    Third clue – no parking accommodations other than private lots. Where are there enough “private lots” for an additional 18,000 people within a small area?

    This is dumb on steroids.

  • Rick

    So let’s build an arena near oceanfront, but not include parking.
    Oh, this won’t turn into a parking disaster come tourist season.

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