Senior Democratic lawmakers introduced legislation on Friday to create an authority to finance a $2 billion sports and entertainment district that Gov. Glenn Youngkin proposed in Alexandria for the new home of the Washington Wizards of the NBA and Washington Capitals of the NHL.
If approved, the bill will create the Virginia Sports and Entertainment Authority, a body that would issue bonds to pay for the development’s construction. The bill’s introduction is a preliminary step toward greenlighting the massive project.
Youngkin said the arena and its surrounding development would create $12 billion of economic development and 30,000 jobs in the state.
Read the full story in the Richmond Times-Dispatch.
