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Aaaaaaaand we’re off. The first session of the NH corporation Coliseum is launching. @ChelseaWiseRVA @MrLegacyJones and @lewrennie are in the house. Thread: 
We're starting by meeting the commission members. Members and bios are here: navyhillcommission.org/members.pdf
We're missing Grindly Johnson this morning.
While intros roll, be informed the full ordinances are online here: richmondgov.com/Mayor/downtown…
I haven't had a chance to listen yet, but WRVA dropped an interview with the commission chairs this morning: newsradiowrva.radio.com/media/audio-ch…
I have to love Pierce Homer for working with the assumption that people are reading or have read the ordinances. If one more council member publicly announces no one has read this thing I will absolutely lose it. This document is incredibly high stakes. Council needs to read it.
Homer is also calling for financial disclosures about campaign contributions and introducing both a FOIA officer and a publicly recounting FOIA process. What if all government was like this?
During disclosures Pierce Homer states a number of campaign contributions including Levar Stoney and Kim Gray, and state level officials. He is the only member to specify disclosures. John Gerner is not donating as he is chief election officer for his precinct.
Homer is allowing for disclosures as a regular session item.
Gerner is asking attendees and public comment speakers to send comments, feedback, etc., to committee members at members@navyhillcommission.org. PLEASE DO THIS #RVA!
Leonard Sledge is launching the presentation and recognizing councilwoman @kimgray4rva, the only member of council to be present today. That's unfortunate, but thanks and kudos to her.
So. Why are we here? According to the Stoney administration, as reported by Mr. Sledge, this is part of a large scale downtown redevelopment master plan that includes the Pulse and VCU's medical campus.
In a "why do we need this" section, the city has a deliberately bad black and white photo of downtown with the heading "This is what we have now" and if I heard him correctly, Mr. Sledge referred to our downtown as a scene from The Walking Dead. Did I hear this @ChelseaWiseRVA?
The Tax Increment Financing (TIF) district is now being called a "revenue fund" implying, in my estimation, something other than what it is. This is not new revenue.
Additionally, the city is claiming the arena is the only building financed with the TIF district. This is in direct contradiction to what the developers told the city in a council working session on this project.
In response to "Why is the district so large?" Mr. Sledge identifies 3 million dollars of tax exempt real estate in the district. Notably, they do not map exempt property. The reality is, this district was draw to include both the Dominion and Suntrust buildings.
Another savvy Stoney admin rebrand: "TIF district" has become "incremental financing area."
Lots of Sketchup images of arenas and blocks with people milling about. I have Sketchup on my laptop if anyone would like me to mock up a bunch of images for them. Like, you know, Gilpin court renovated so as to be safe and livable.
List of parcels to be conveyed to the city is on the screen now. @ParkerCAgelasto asked in a council session why there has been no land assessment on these parcels. They would be transferred to the city for $15m. I have heard from with one auditing team the value is apx $30m.
As soon as we have data on value of land to be transferred confirmed we'll make it available via @RichmondForAll
Mr. Sledge says the Leigh street regrade is core to this project. See below, re: which is it? richmondbizsense.com/2019/09/03/lei…
Mr. Sledge says there is need for a new transit center, which he is hearing from everyone. The proposal itself says there is no interest in a transit center.
We're hearing about the Blues Armory redevelopment project. Reminder that only 50/400 jobs proposed here are full time.
Literally, the city's presentation is like....30% information they contradict elsewhere, 10% speculation, 10% criticism, 50% sketchup renderings that are basically science fiction, and 100% marketing.
INCREDIBLE.
In what can only be described MY DREAM COME TRUE Corey Walker has stopped the city's presentation and demanded less marketing and more information on the structure of the ordinances.
In what can only be described MY DREAM COME TRUE Corey Walker has stopped the city's presentation and demanded less marketing and more information on the structure of the ordinances.
This was, and I cannot overstate this, THE BEST MOMENT in any NH Corp presentation I've seen in the 2 years we've been fighting this deal.
Mr. Sledge said, and I quote, "I understand, but let's cary on."
Mr. Sledge said, and I quote, "I understand, but let's cary on."
That moment, fam, was worth giving up my Saturday.
Pierce Homer has again stopped the presentation. He's demanding information on the ordinances. IS IT MY BIRTHDAY?
We took a break, and now we're back!
It's Q&A time, Homer is requesting a maximum of one week turnaround for written responses to questions. @JohnGerner: will answers be on the website? Site is navyhillcommission.org.
In another incredible moment, Suzanne Long is asking for a list of the major players in this deal. @MrLegacyJones, I know you're ready for this. :)
The Board of NH Corp is Tom Farrell, Melody Barnes, Marty Barrington, Bill Goodwin, Monroe Harris, and C.T. Hill. I've spent a lot of time on Twitter talking about Tom Farrell's overreach in RVA and VA. Here's an example: bluevirginia.us/2019/08/slimy-…
C.T. Hill is interesting. He served as Mid-Atlantic Group Head at SunTrust Bank up until 2011. You know. Just before the DOJ settlement for lending discrimination. justice.gov/opa/pr/justice…
More on them soon. Thank you to @MrLegacyJones for tracking the players so closely.
We have a question for a specified example of a shortfall in revenue with a non-recourse bond: how is that shortfall picked up by investors. Amazing. Pocahontas Parkway has been brought up as an example. usa.streetsblog.org/2014/11/18/the…
I missed 2 questions typing. The questions with answers will be available within a week. I'm **excited.**
New question: What was the process by which city property was identified as surplus?
New question: What was the process by which city property was identified as surplus?
Answer: the declaration of "surplus" is simply done in advance of sale. Hm. "It's just part of what we say when we sell property." Literal quote.
Question: why is the CAO named in so many of these documents?
Answer: someone has to sign off on behalf of the city for all of these documents. The CAO is appointed by the mayor, so they were chosen.
Answer: someone has to sign off on behalf of the city for all of these documents. The CAO is appointed by the mayor, so they were chosen.
Most questions right now are coming from @URProfWalker. Follow this man: "I don't want our answers to fall back on 'it's technical.' As a basic process of democracy, I want this information to be accessible to everyone in this city."
This man. Absolute fire.
This man. Absolute fire.
Walker is talking through annual city revenue, and asking why this number of 1.5b over 30 years is so "central to how we've constructed the ordinances."
"What is the framework we're setting up through these ordinances to actually realize an economic development scenario?"
"What is the framework we're setting up through these ordinances to actually realize an economic development scenario?"
Mr. Sledge: "In terms of how the surplus revenues are used, that's just a proposal to council. Council can decide how revenues are used."
THERE IT IS.
THERE IT IS.
"We're seeing 50% for schools out in the public discourse but if we've set up the wrong framework then how can we legitimately go back to our fellow citizens & tell them we have set up an incorrect framework to realize the promises that have been put forward." - URProfWalker
Mr. Homer has noted that we need a visualization that shows the flow of funds in a TIF district so we clearly understand our legal obligations. @BenFTeresa!!!!!!
"Even the dollar amount for the bond itself is not in the legal agreement."
So, magnificently, this has come up, as has this:
So, magnificently, this has come up, as has this:
From the city: "The bond documents for this deal do not exist yet. They haven't even been drafted."
"Could I have the # of residential units and the number of 'affordable' units in each of the parcels? The developers list square footage, but not number of units." - @JohnGerner, asking the right questions. Heads up, @RVANewSouth.
"What is the schedule for the 21 year debt payment?" - @JohnGerner
"What is the ability of [the coliseum] to support itself? As far as I can tell, the revenues are primarily dependent on sponsorship, not self-sustaining revenues." - John Gerner
"What is the ability of [the coliseum] to support itself? As far as I can tell, the revenues are primarily dependent on sponsorship, not self-sustaining revenues." - John Gerner
John Gerner is demanding the details for the naming rights deal. This is INCREDIBLE. The naming rights have certainly been granted to Dominion Energy, and no information about that financial agreement has been made available.
Mimi Sadler question: "How will an already overburdened city staff handle increased demand of services by a project like this? Those funds need to be produced up front. Like, now."
**Great question when we're losing revenue to the general fund in this deal.**
**Great question when we're losing revenue to the general fund in this deal.**
Dr. Hakim Lucas is encouraging us to take a broad view of the "overall impact on the region."
He and Mr. Sledge just did a beautifully choreographed move:
"What is the impact on current residents in this area?
"Dr. Lucas there are no residents in the development area."
He and Mr. Sledge just did a beautifully choreographed move:
"What is the impact on current residents in this area?
"Dr. Lucas there are no residents in the development area."
So let me point this out: there are many residents directly adjacent to this project. They live in public housing. RRHA has proposed bulldozing that housing. The land value assessment cites new development as making their property too valuable.
Okay we've entered a long period where Dr. Lucas asks about impact on economically insecure residents and Mr. Sledge responds with all the benefits this project will offer those residents. I'm doing some deep breathing, but one sec I got a killer quote.
Mr. Sledge: “This project will create jobs at every level of the employment spectrum. I’m a firm believer that a job is a job as long as it offers a living wage.”
I invite the city and the developers to tell us what percent of these jobs will employ people at a living wage.
I invite the city and the developers to tell us what percent of these jobs will employ people at a living wage.
Mr. Gerner has tried to move us forward to citizen comment. Dr. Lucas has asked to speak a bit more about the importance of this project as an economic development engine. If you ask me, he's running the clock to avoid public comment.
Schewel has just hit it out of the park asking how this project can increase debt capacity when excess revenue is pre-committed to schools.
Schewel: What happens if there are fewer bond proceeds than expected? Why the difference between the armory lease and arena lease?
Okay My brain is TIRED. Two super important questions just came up on financing and also the relationship of this TIF district to state code and the Dillion rule. I'll follow up on this later as I think its a core question to this project. Thanks to Mr. Homer for raising it.
Oh man. While we're talking transfer of parcel transfers downtown, check this out: richmondmagazine.com/news/louis-sal…
Pierce Homer "We're going to run past noon to accommodate public comment."
Thank you.
Thank you.
@URProfWalker is demanding the city admit excess fund commitments are non-binding and therefore questionable statements. "That needs to be extremely clear...we're using that argument to inform our deliberation, but that's not an ordinance and does not have binding authority."
Okay sorry guys this thread has no closure right now. It’s over. We went out for French toast. #facts. More soon when my brain bounces back.
