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eandslee

By eandslee
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cbl1 Whistle-Stop

cbl1

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1 hour ago, RiverYuppy said:

I have a mortgage on my house and I purchased it for about $300k.

I don't tell people the cost of the house with financing prices (in dollars unadjusted for inflation) baked in,  I tell them it cost $300k and everybody simply understands that interest is part of having a mortgage.  When my mom asked me "How much is the house going to cost" it would have been ridiculous for me to tell her "Close to $600k." 

Additionally, the city finances tons of things.  When we build a new school, bridge, park, bus line, infrastructure improvement, etc. and get a loan, I have never heard the price quoted with financing costs baked in.

So I guess the question is, why is the arena the only project ever proposed by the city that gets financing costs baked into the cost we put in headlines? 

Exactly … 

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Asace88
Asace88

I wanted to make sure that I waited about a full day to react to this situation since my gut reaction to the council request was going to be much uglier than after giving it some more thought.  I also

cbl1
cbl1

Yea - that $800 million in private equity funds (never to be paid back by the city) pouring into downtown is a total rip off.     Your not fooling us you shysters - take your $800 million and find som

rjp212
rjp212

I guess this could go in a few forums, but CoStar has announced they will anchor the new 400,000 sf tower adjacent to the Arena.  Plans to double the workforce to 2000.  Huge news! https://richmo

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eandslee City

eandslee

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1 hour ago, wrldcoupe4 said:

Why is the dissenting faction of city council scared to keep this on the agenda for the 24th?

Very good question. If they are afraid of political backlash then it’s not such a bad plan/project after all!

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eandslee City

eandslee

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21 minutes ago, DalWill said:

what did you mean by that?

Wasn’t sure if Council was afraid of any political backlash for voting against the project.  Is it possible?  What other reason might they not wait until 24 Feb?  Might it give the development team too much time to counter Council’s position with success?  I’m just throwing ideas out there just to see what sticks. :dontknow:

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eandslee City

eandslee

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22 minutes ago, georgeglass said:

I would like to be there, but I don't get off work until 5:30. I would imagine that would be the problem for most people. I know it says to be there at 3:30, but is that when the meeting starts?

No, I think that’s just the gathering time. If you go after work, I think that would be good!  Just be there!

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Downtowner Burg

Downtowner

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As much as I’d love to attend at city hall tonight I have class tonight. I really don’t have a good feeling about tonight and I feel like I will be mad for a very long time about this since I feel like council is going to be a bunch of boneheads about it. I know the second I get the news on my phone I will probably flip over a table in class or either be jumping for joy. I doubt jumping for joy will happen and I feel more like a table will get flipped over tonight. I don’t have a good feeling about this at all. Might as well turn the city of Richmond back to the 90s and have every building in the city boarded up if this gets canned. I just feel like it’s going to hurt us tremendously if we don’t pass this. For one I see costar leaving Richmond altogether I see it hurting our business relationships with anyone wanting to make the city of Richmond home I see it hurting us just about under every category with people fleeing into the counties again. What business wants to relocate to the city when you have a bunch of morons on council. I just don’t see anything good happening if this gets canned. Heck move all of vcu to the counties just make Richmond one big abandoned wasteland. I know I’m being really negative I just don’t see council approving anything with the people on it at the moment. Heck they would probably also deny the Casino being built to. I just feel like the people on it now are extremely bitter and are against anything and everything anyone does in the city. It just makes me so mad and upset.


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Icetera Burg

Icetera

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3 hours ago, Downtowner said:

As much as I’d love to attend at city hall tonight I have class tonight. I really don’t have a good feeling about tonight and I feel like I will be mad for a very long time about this since I feel like council is going to be a bunch of boneheads about it. I know the second I get the news on my phone I will probably flip over a table in class or either be jumping for joy. I doubt jumping for joy will happen and I feel more like a table will get flipped over tonight. I don’t have a good feeling about this at all. Might as well turn the city of Richmond back to the 90s and have every building in the city boarded up if this gets canned. I just feel like it’s going to hurt us tremendously if we don’t pass this. For one I see costar leaving Richmond altogether I see it hurting our business relationships with anyone wanting to make the city of Richmond home I see it hurting us just about under every category with people fleeing into the counties again. What business wants to relocate to the city when you have a bunch of morons on council. I just don’t see anything good happening if this gets canned. Heck move all of vcu to the counties just make Richmond one big abandoned wasteland. I know I’m being really negative I just don’t see council approving anything with the people on it at the moment. Heck they would probably also deny the Casino being built to. I just feel like the people on it now are extremely bitter and are against anything and everything anyone does in the city. It just makes me so mad and upset.

Unfortunately, some state bills that may make it through will eliminate some of the big incentives relocating to the Richmond metro area (lower labor costs compared to DC), so those combined with this big middle finger to private investors may greatly diminish our resurgence.

HB 153 seeks to eliminate VA as a Right-to-Work state:  Despite how people may feel about this, it is a part of why Virginia is always ranked one of the best states for business.
http://lis.virginia.gov/cgi-bin/legp604.exe?201+sum+HB153

SB 7 increases state minimum wage to $15:  We have had many businesses move to Richmond citing lower cost of doing business compared to DC and NYC especially.  While $15/hr is likely appropriate in the DC metro, adjusting for current cost of living, $15 in DC is valued around $24 in Richmond (HR appears to be about the same as RVA).  We can achieve the same standard of living with $9.36/hr.  While amazing for many, expect rents and prices to rise.
http://lis.virginia.gov/cgi-bin/legp604.exe?201+sum+SB7

HB 1541 Central Virginia Transportation Authority: This has passed.  While this is great for regional transportation, the regional sales tax is increasing to 6% (matching NOVA and HR), putting our total Meals Tax at 13.5% (DC is 10%).  Gas tax also increases by 2.1%.
http://lis.virginia.gov/cgi-bin/legp604.exe?201+sum+HB1541

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Icetera Burg

Icetera

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6 minutes ago, georgeglass said:

What does that mean? Is there a point in coming?

Not sure how this works, honestly.  There are two overflows watching via monitors as they would not allow standing in the main chamber.  There are reps with podiums in here so may have a voice.   Main chamber seemed to be mostly supporters plus some for another agenda.

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georgeglass Whistle-Stop

georgeglass

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There are tons of people here. The public comment period has begun.... 1st speaker opposed, 2nd opposed

1st... passionate female emphasized RVA's history of exploiting the poor and people of color

2nd...all about schools being ignored. 

(To me, these people make great points...but these issues aren't directly connected IMO) so we cancel the project...money doesn't magically go to schools

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Icetera Burg

Icetera

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1 minute ago, georgeglass said:

So now it moves to open comments. First up are speakers in opposition

No one moving on call from 5th floor.  About half VCU kids against in here, though.

At least one speaker is honest.  They simply do not want people and development coming into the city.

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