Author Topic: Caps and Wiz moving to Potomac Yards?  (Read 6696 times)

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Re: Caps and Wiz moving to Potomac Yards?
« Reply #250: February 12, 2024, 01:20:17 PM »
https://news.yahoo.com/leading-virginia-senate-democrat-deals-170149896.html

More detail at this link, including Senator Lucas saying that the deal is dead as far as she is concerned.

“Lucas was asked if changes to the House version of the bill, which will cross over to the Senate for consideration assuming it clears a floor vote, could make the proposal palatable.

“She answered by saying she had a strenuous objection to the project financing as currently envisioned because of its use of moral obligation bonds backed by the state and the city of Alexandria to backstop about a third of the financing. That means taxpayers could be on the hook if the project revenues don’t come through as expected.

“”As long as the full faith and credit of this Commonwealth is backing this project, my answer continues to be an absolute no,” she said.”


And the same rationale cited by Warner in the ballpark process for lack of support related to the use of “moral obligation” bonds surfaces yet again.