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Richmond will miss deadline for stadium bonds, potentially raising costs

Posted on AllSides June 25th, 2024
From The Right

Had the city been able to issue bonds to pay for the minor league baseball stadium by June 30, it could have seized the state sales tax revenue generated from the project. A month ago, Mayor Levar Stoney said he was confident the city would meet the deadline. But Lincoln Saunders, the city’s chief administrative officer, said the city will not be able to issue the bonds in time, citing a lawsuit that has drawn out the process. Although the suit was thrown out by a Richmond judge, city leaders...

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https://richmond.com/news/local/business/development/diamond-district-stadium-bonds-sales-tax/article_dc8e0dea-3247-11ef-84ac-c7a00277a01f.html

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