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Should the City Council approve the agreement between Virginia Beach and United States Management to build an arena at the resort? Yes or no. Why or why not?

83 positions on forum

I feel it is unnecessary and will not have enough big time events to justify building it without confirmation of a legitimate professional basketball team. This region has a hard enough time filling the venues we already have The City of Virginia Beach should approve the arena. It will boost the local (city) economy and provide additional revenue that can go towards increasing pay/benefits for our first responders and teachers. I do have a small reservation about this project. I can only agree with the city to build, if it supports the extension of the rail to the new arena. This will provide much needed relief due to the current traffic congestion in the resort area, which results in the shutdown of 264 leading to the oceanfront every summer. Spend all that money for what? So it can sit empty like the dome? Or is someone lining their pockets? In the big picture this arena is a small investment that will make our city viable in the ranks of big places. It will attract high level talent and events that will make us a player in the big economic picture of the Atlantic sea board. The Arena as currently planned would have about 10,000 too few parking spaces for the facility; that just doesn't work. The Arena is not a bad idea, just there where traffic would be bottle necked even more than it is already and having no parking. An Arena might be possible at location where traffic can come from multi directions such as the Sportsplex area, the Old Lillian Vernon site, the DLH Sports Complex area, somewhere without residential nearby. An Arena needs a site where there is room to have sufficient parking and multi-directional access for ease of access and egress, Public Safety. As far as the Arena being in a residential area, totally sound proofing the facilty and NOT having outdoor concerts on any plaza is demanded. Neighbors don't want their peace of mind ruined by excessive noise as well as traffic. Consideration for residents needs to be the priority, you should not just consider the developers and tourists; we are the City. We also need to question whether we want these outside sources of funding, be careful who we get in bed with. So no, not these plans. Just more hidden taxes that we the taxpayer will pay for something we do not want and can not afford. If this is such a good deal for the City, why is the company being funded by a Chinese bank? If it's such a good proposal, I'd think any number of U.S. based commercial banks would be willing to provide financing. With all the discussion and legal wrangling about Chinese drywall, how can any other building materials from China be trusted? Aren't there enough American suppliers to do the work? Who will be hired to perform the construction work - Locals? Americans? Chinese? How in the world can this be a good idea when the City's current debt service WITHOUT the arena and light rail is projected to increase almost 25% in the next 5 years? The citizens of Virginia Beach deserve answers to these and many other questions about this project. Yes as long as the Veterans Memorial is protected and / or upgraded. It will bring business to the ocean front. To bad we could not add the light rail to the plan. No, because we already have traffic issues big time. You hear everyone complaining. Going to work or coming home the interstates are packed. We do not need another stress problem in this beautiful city. Use our tax money in some other family style venture. Thanks. Until we provide satisfactory support for our police, first responders and Educators - the council and mayor need to stop putting developers and tourists first and focus on the residents needs. We need businesses to want to do business here but we have wasted enough money on failed sports complexes. We have been asked to pay and pay with little to no return. We don't have $76million for infrastructure for this arena when we expect a fully volunteer EMS and our schools are not properly funded. I also feel duped having bought Bruce Thompsons parking garage at 31st street. We were asked to pay for that and used to have more access to park there - there are now only 2 levels for us to use. This council and mayor have asked too much from it's residents and not given enough back in return. It is time to put VA Beach residents first. We already have the amphitheater, plus Scope and Chrysler Hall in Norfolk. The location of the Stadium will be disruptive to the neighborhoods surrounding it. The street infrastructure does not support the traffic as it is. VB has existing infrastructures that are outdated and in need of repair and upgrades. Residents are tired, really tired, of what we see is City Council always in a rush to glad hand developers regardless of the effect on the quality of life for area residents. This was an unsolicited proposal, not something that was a well-considered part of our city's future plan. Take a clue from Boulder, CO and cities whose real estate values, quality of life and satisfaction of residents are at the top of the charts - cut back on excessive growth and development spending - concentrate the budget on creating a better experience for permanent, tax-paying citizens, not short term visitors. Thank you for the documents which provided answers to my questions. I'm optimistic that the proposed arena will be beneficial for residents, visitors and businesses. The funding agreement is innovative and seems to protect the city. It is a leap of faith but could well result in exciting advances for our city! We already are in a deficit budget situation. No real pay raises for city employees for years, hiring freeze, projected slow economic growth, but there is a push to spend big money on the arena (in addition to Light Rail). Not affordable, not wise for the citizens of Virginia Beach. I say No. I do not like the idea of Chinese banks financing it, nor do I like the requirement that we have to use Chinese materials. Has everyone forgotten about Chinese drywall? YES, only if you stop "light rail". The arena makes more economic sense, while light rail is a boondoggle that has no constituency The location is wrong. The arena would be better in a less congested location of the city. The Convention Center was going to "bring in big events". The Sportsplex was going to "help draw professional sports" to Virginia Beach. The city had to take over the TPC golf course when it didn't pan out. Traffic problems will be significant (the plan itself acknowledges this in the section on coordination with the VBCC - where exactly will the satellite parking /shuttle operation be?) There seems to be the usual unfounded optimism about the potential of this project. I think there are better ways the city could spend this much money right now. Although I am all for an arena at some point coming to Virginia Beach. I feel that with finances coming from China is a bad idea. Also I think if it were to pass that USM who is a local company who has no experience in this. Should get a local company to manage the arena instead of SGM. I also have sources that tell me that the NBA and NHL will not be expanding in the near future so this venue will sit empty majority of the time. Public private partnerships are a good venture putting risk on the venue and less on the taxpayer. My concerns, however, are many. Budget shortfall, increase in debt service and decrease in revenue are recent stories in the Pilot which can't be ignored. A 60 year lease seems excesive and contrary to established 40 year limits. Bolstering China's economy instead of Americas is an opportunity missed to strengthen domestic growth. Chinese product quality is known to be lacking specifically in Virginia Beach, and China was slow to resolve the issue. Many arenas exist in the region, many underutilized. Another moves us away from the much discussed regionalism. I am not a proponent of the 'build it and they will come' philosophy especially in a flat and reeceeding economy. Would love to have an arena that attracts the larger events. My biggest concern would be the tunnel and access from those outside of Virginia Beach. We already have two arenas in the Tidewater area. I see no need for a third as the other two stand unused the majority of the time. Plus, we already have a convention center. No need to spend millions of taxpayers dollars on a risky folly when we have a huge shortfall already. Let's fix our roads! No to Chinese funding, no to Chinese materials, no to a third arena competing with two other better established venues, no to the location (parking, traffic) and no to the additional spending while we still have light rail hanging over our heads and last but not least no because we still have under paid fire and police! The arena will greatly enhance the city's image, provide a wider variety of entertainment, bring more business during off-peak season and provide employment opportunities (even though most might be part-time). No arena for the resort area. It will just add more traffic, crime and problems in an area that has already become unpleasant to live in. And tourists come here for the water, not sports! An unecessary and greed-driven project that will cost way more than it is worth in dollars and problems! This will bring jobs and revenue into the area. However, it would be even nicer to have a light rail stop to use. (hint, hint) I may not come to a lot of events there, but I sure will spend a lot of money at the outlet stores up off of Northampton when they open. Thanks Norfolk! I am against this project for many reasons. I was born and raised in VB at the Oceanfront and have lived in VB almost my entire life. We (the city of VB) are not set up to handle such a venue, especially at the proposed location. Traffic is already a nightmare in the summer time at the oceanfront, especially so on weekends. There are no amount of traffic design controls or multi-modal options to even attempt to mitigate this in the least. I think this will hurt our city, not help. I understand the motivations of our leaders are in the right place (hopefully) but this is the wrong idea. The area immediately around the proposed location will only continue it's slide into the lower echelons of the socio-economic ladder. I say No. Many reasons why include: Poor decision on location (increased congestion in an already crowded venue); enormous cost to city ($75M) for "infrastructure" improvements; specious analysis of the benefits of this burden on taxpayers; prospect of a tremendously expensive "white elephant" in the middle of a beach resort area if the project fails; requirement for increased future municipal maintenance and support costs as the facility ages; Speculative funding from foreign nation, China in particular, should be enough to kill this deal; inexperience of local pass through business in these endeavors. Bottom line, if this facility is constructed the city will eventually own it and 10 years from now we will be talking about how this was ever allowed to happen. Council needs to reject this proposal if they indeed represent the people of Virginia Beach and not wealthy special interests. My concerns are that contract says the city can not build a facility with 4000 seats or more with in a 5 mile radius for the next 30 years. What will the city do if Oceana shuts down and we can't utilize that land for other arenas or venues to entertain our tourists'. The parking has not been considered enough. Why isn't the police training center/ Seatack park across the steet being used to build a parking garage? Is the city paying private parking lot owners (holiday Travel) for the use of their lots from May until Oct. each year? Parking issues need to be addressed before moving forward. I agree with increasing year round tourism. My concern however, is the traffic congestion this venue will cause. I believe it is a great idea but we also have to look into light rail and others ways of mitigating the increased traffic congestion issues. many reasons take your pick The City's funding contribution to the project results in zero equity in the arena building, this does not sound like a good deal for the public. The value of the arena will rise when it is completed and the city gets nothing other than tax revenues, which is based on level of utilization. For USM, its a win no matter what. And a huge win if a professional team buys the arena. Again, the City must hold equity in the building to be a win for the public. $500+ million from City revenue (excludes "but-for" rebates) to USM; USM equity less than City project cost cap; $75 million off-site infrastructure bonds & debt service may impair remedies to Old Beach drainage projects currently being studied and expected to cost more than $100 million; No prohibition of foreign government influence/control. Tax Incentives “Payments”. Remember no city funds will be used to pay for the arena but they call them tax incentive payments…not quite sure about that.. Here are the tax incentives: All taxes generated by the arena- Estimated $3.6M/year = $144M in 40 years 1% point of the City’s 8% hotel tax. (Not 1% of the revenue of the tax but 12.5% of revenue…1/8)-$3.4M/year = $136M in 40 years to go directly to the lender. Real Estate and Personal Property taxes returned- $1.5M/year = $60M in 40 years State sales and use taxes - $143k/year = $5.7M in 40 years In conclusion the city is responsible for $79M in upfront costs and up to $345M in tax incentives. That’s $424M the city is responsible for! Also if the operator (same as developer) defaults on the loan/operating agreement the City (Guarantor) has to either take over the full note and finance fees associated with it or the area has to be sold into foreclosure in which the city has no say on who buys. The money to be used could be better spent on citywide road improvements, storm water managements, schools... A review of the statistics regarding Harbor Park as well as other facilities located in Virginia Beach should reveal that such an arena is unnecessary and doomed to become a money pit. No, No, and again NO. The City needs to focus on being able to make necessary infrastructure improvements and find a way to recruit and pay for teachers, police, and other essential positions. I have lived in Virginia Beach all my life and, while the resort strip area has had some very fine improvements, we need to focus of the needs rather than the wants. I find it interesting that almost everyone whose position is "Yes" for this issue has no statement except to say that it would be great. We need to be practical at this point. I would hate to think that this area project is a foregone conclusion, but between this and the potential light rail project, the City would be sinking further into debt without a means to get out. Please consider making the focus improving what we have rather than grasping at a bright shiny thing that will end up costing us in the end. Until city employees get a meaningful pay raise, I don't think our mayor and his council have any business giving our tax dollars to private enterprises, light rail, or any other monument to their legacy. I am most opposed to the arena for the tax implications on the citizens of Virginia Beach. Additionally concerns and reason for being against the arena include traffic and congestion. Living close to this arena site I have worries about parking. There is already limited parking in surrounding neighborhoods, I envision many households having to deal with loud rambunctious people leaving the arena and traipsing through the neighborhoods to get to their cars. Would there be parking restrictions placed so that residents only (or friends/family with a parking pass) can park in the surrounding neighborhoods. Also what about the area around the proposed site? Will Virginia Beach Blvd be "cleaned up"? It would be a shame to spend all this money on an upscale arena that looks like it was plopped in the middle of a bad neighborhood. There are other concerns as well that others have mentioned such as traffic problems, congestion, and the potential that it will not pull in the events we may want. I just think Va Beach Blvd needs a beautification makeover before an arena is built here. Possible future tax increase(s) with this project as well as budget short fall and cost of Light Rail. An arena would be positive growth for the city but the tax free part for up to 30 years does what for the city except cause our taxes to go up to support it. This part of the deal needs to be re-negotiated to favorable terms that give benefit to the city, not subsidized by the city. Too often the public private partnerships give all the revenue that would be generated back to the developer. At the end of the 30 years when the city starts to collect taxes the arena will be outdated and in need of repair or upgrades and who pays for it then?? This is not "free". Virginia Beach still has to provide infrastructure, parking, traffic patterns and general access to this project which was projected to be between $68-78 million dollars. Further, the arena is directly situated in an area projected by the climate change seminar recently held in Norfolk to be in jeopardy because of rising sea levels along the Atlantic Coast. We face the very real possibility of, with the advent of even a "minor" hurricane, having to wade out to events. We are also living in an area that is notoriously deficient in roads. Those that are being improved are being heavily taxed through tolls. Recent proposals to levy tolls on the MMBT and HRBT aren't encouraging. We do not have enough population in Virginia Beach earning higher wages needed for event admission to support the arena (except perhaps during tourist season in the summer)and, given the high prices of events, having to pay tolls and traffic congestion, we can hardly expect surrounding cities to support it either. I facetiously suggested a couple of years ago that at least 4 Jumbotrons be installed along major arteries so that patrons can at least see the beginning of whatever they have tickets for while they are stuck in traffic. Virginia Beach is a lovely little city---stress on the little part. It is podunk compared to other metro areas (i.e. Fairfax), but the administrations in the almost-30 years that I have been here have all had delusions of grandeur and have taxed every single item including utilities, food, entertainment, etc., in an effort to support those delusions. Very little has been done about maintaining or repairing present infrastructure, livable wages for employees, providing mass transit that really works for the average wage earner, and the list could go on and on. Virginia Beach has been very short-sighted over the years, and I strenuously vote no on yet another "pie-in-the-sky" project. I hope this arena happens. Becoming a top destination for sports and bigger name concerts and having the ability to host events year round would be a great improvement in Virginia Beach. Please vote for this arena! Arenas of this size are always a losing proposition for a city, once the gloss wears off. Traffic to Virginia Beach is already a bottleneck at the HRBT and other tunnels now. A new arena would bring congestion to an area not suited for heavy traffic. It would be competing with the amphitheater which is much better suited for heavy traffic and parking. What would be the purpose of this arena? Who would be performing there? How many days/nights a week would it be used? We can't even fill the venues that we already have. preserve the war memorial but continue to support the arena with private firm building and covering costs. taxpayers in Va Beach do not need to take the risk if this project fails-- private company can take risk, spend their resources and reap the profit IF IT HAPPENS. Would enjoy a major center in Va Beach for big shows, sports events etc. but not on my tax dollars. The Convention Center has NEVER lived up to it's potential in my opinion and Transportation, lack of Hotel /shops environment and closing down of Va Beach ocean front after labor day has not changed... So good luck to U.S. management and really hope they can make it happen. The traffic related problems combined with the City's expense in infrastructure, which has not been adequately researched and addressed, makes this a an incredibly bad move. Parking at the beach is already a disaster on the regular. I hope they can build more parking garages. That needs to happen if it's going to work in the long run. This arena could make bank if they play it right. VA deserves something new and shiny for a change. The Scope, Hampton Colosium, and Richmond Colosium are ancient. The best we have is UVA's arena and even that isn't big enough to draw major acts. Let's go for it and let some else foot the bill for once. Just wondering if the city has solicited feedback from Oceana...what are there thought on a high density venue at the end of their runway...I remember when they did no want Lynn haven mall built for that very reason...certainly the crash 5 blocks from the proposed building site is cause for concern. We don't need it. Since the city seems to have so much money to throw away the real estate taxes should have been decreased instead of increased. Using the money to fight ever-increasing crime makes more sense. It will be a crowing jewel for the City and the area. I've heard the unfavorable traffic projections for this project. Traffic is already terrible - the bottleneck between I-64 and 264 doesn't need to get worse. I think it would kill housing property values - no one would want to live in the area. Focus on your "jewel" of the ocean front and getting light rail down there. I have reviewed the arena material presented by the City and I am struggling to determine what question this project is attempting to answer. There appears no definitive plans for its use, and it appears merely aspirational. It appears to be a "build it and they will come" plan, but that is quite the hope for a project will cost millions. There are no pro sports teams that have been identified as coming to Virginia Beach, and it is unclear how this arena will present a different benefit to the facilities already in existence in Norfolk and Hampton. Until the planners have a more concrete plan for what they intend to do with this arena, I vote no. I am concerned about parking, as well as traffic congestion. Over the last few years, the city has been removing public parking locations for things like indoor skydiving venues and now an arena with no permanent resident. Seems like a tax pit. BACKGROUND: My family (The Daughtry’s have lived in Seatack 200+ years). The city of VA Beach started out with the Dome which only held 1000 and it was understandable that the time had come in 1994 to build a larger facility, as the city was growing. Then next came our first attempt with the Pavilion which was an eye sore looking like a row of old school army barracks (no disrespect to the military) which was a waste of money and brought in no revenue. Which led to the city tearing the Pavilion down and erecting the current Convention Center in 2005-2007 to pull on our heart string trying to resemble a lighthouse. Which from the meeting on 11/17 I learned we have a debt of $24M. Now you propose to add an Arena with an estimated cost of $200M with $40M on the table @ closing per stated @ the 11/17 meeting. CONCERN: You paint a pretty picture, but (1) The largest events that have come to the Pavilion or Convention Center have been the Boat Show and Graduations, no guarantee we will draw any other events with the new arena (at least the Dome pulled Jimi Hendrix in its heyday); (2) Parking, Police Chief stated we have a small mass area here…you propose to add an Arena & keep the Convention Center (let’s say we were to get some big events) it was stated folks could park at the garages on 9th & 31st street…what are they going to do??? Walk to 19th street…NO…they are going to park in the surrounding neighborhoods, I have had people towed from my cul-de-sac; (3) Traffic is awful during the 4th of July celebration at the oceanfront, the Oceana Air Show and Graduations, I-264 Birdneck Rd exit has had to be shut down, is there a plan in place to widen the roads & if so, now you are looking at people’s property to make that happen; (4) There have been times when I could not get out nor in my lane because of the horrific traffic; (5) Why not place the Arena on the old Dome site? Yes, we need revenue brought into the City…but at what expense? The city can't seem to handle the congestion on holiday weekends such as 4th of July. If they are determined to go through with this (I believe our voices don't count and the city council will do what they want), a much better location would be closer to the 264/64 area. More than $3M from VB taxpayers to fund the project! We taxpayers have financially buttressed town center during its early growth. It is time to stop. I concur with preceding commenters who have already pointed out some of the issues associated with this proposal: City financial liabilities associated with the project (incentive payments, lease terms, debt service, tax increase, necessary infrastructure), competing municipal planning & development priorities, length of lease, traffic management, parking, underutilization of current SevenVenues and other sites, foreign financing, etc. Add potential municipal planning overreach via Town Center Phases V and VI, VA ViBe!, the Cavalier deal, and the on-going pursuit of Light Rail. Before laying out $76.5M of taxpayer's money (or $424M if one commenter’s figures are accurate), I want to know what USM and the City’s plan action and milestones are for ensuring sustainable utilization of the arena once it's built? What’s USM’s business plan and marketing strategy to achieve and maintain minimum operating standards, to wit: “meet any one or more of the following: 1. Minimum annual paid attendance of at least 450,000 at Ticketed Arena Events, 2. An annual minimum of at least twenty (20) Ticketed Arena Events with paid attendance of at least 7,500 per Arena Event (Exhibit F, Minimum Operating Standards, Draft Deed of Lease)? With a projected completion date of 2019, will the years 2021-2024 see the City financially inherit a facility whose minimum operating standards (aka economic viability) that cannot be sustained? I also noticed that, on page 5, paragraph 3.(b) of the Draft Deed of Lease, there's a provision that the “Landlord [City] will receive, at no cost, eight (8) premium tickets to every Arena Event and (if constructed) four (4) parking spaces inside the Arena for use during every Arena Event to park passenger vehicles driven to an Arena Event by the holders of the eight (8) premium tickets referenced above for such event. In addition, Landlord shall have the right to use one sky box/luxury box/suite in the Arena designated by Tenant for an Arena Event to the extent any sky box/luxury box/suite remains unsold for such Arena Event (a “Premium Facility”).” Might be standard verbiology for these types of leases, but from a taxpayer's perspective it seems like a pretty sweet deal for someone in City Hall. Poor infrastructure will need to be modified and extended; all at taxpayers expense. Congestion will be increased. Noise will be increased. The character of the area will be changed forever. I support an arena, but just not where it is proposed. We should be promoting regionalism w/ this sort of project! That said, I'd like to voice my concerns: 1. What NEED are we trying to meet by erecting the arena? I don't recall an arena on any vision plan for the city. 2. In April 2013, Chinese based CMEC closed a $1.2 million contract w/ lawyer and then Delegate Terry Gilmore to protect it's interests in building a VA Beach arena by helping them lift US sanctions imposed on them by the Busch administration in 2002. CMEC is to be THE prime contractor for the arena (which is dictated by the unnamed Chinese lender). It had these sanctions levied by the US Government due to proliferation of materials for chemical and biological weapons to Iran under the Iran-Iraq Act. It was also sanctioned during the same period for supplying nuclear-capable missles to Pakistan, in violation of the international non-proliferation accord. China fought to get these sanctions lifted over a 10 YEAR PERIOD! So why did former governor Gilmore get involved and why did the Commonwealth help partner USG up w/ CMEC before the sanctions were ever lifted? I was intrigued w/ this because of China's interest in investing at a local level, rather than getting back "into the game" at a state or federal level. I still believe there are more dots to connect here... 3. USM revealed it's lenders to the city attorney and finance director early in the negotiating process, but , as of today, that lender remains "unnamed". The city hired a 3rd party to review the lender's financial capability to perform and provide the loan. Why, then, has this info not been made public? 4. The use of Chinese steel is a concern. As recently as last year, Chinese companies were found falsifying the chemical composition of their steel just to get it on the market. Any welder will tell you the quality of the steel definitely matters. Quality, in this case, means impurities which equates to safe construction. If, as stated in the open forum, certain products from China are "generally used for projects like this regardless of whether China is financing it or not", according to USM, then why is that a specific contingency on this deal? It looks as if we don't agree to that, it would be a deal breaker... RED FLAG! The lenders "like the idea of exporting their products to the US", so says USM, but I prefer that our elected officials take a stand for the USA and erase that part of the deal. 5. From what I take away from all of this, the city is on the hook if the developer defaults along the way. The lender, in China, not our elected officials, gets to decide what happens next to PRIME property at OUR oceanfront! RED FLAG!! In conclusion, I would like to hear what EACH individual council person has to say about the DETAILS of the deal.It would have been helpful to have this info before tonight's meeting. There are 3-4 folks that we routinely hear from outside of chambers. I applaude Council Person Henley for coming out against voting on this deal until USM secures the loan(s) and also wants the lender to be publically named. Most of the rest of City Council appear afraid to make their thoughts about some of the nitty gritty details public. That's a shame...and a disservice! about 16 years ago we bought a nice single family house on 16th street worth about a half million now. it's located near the proposed venue between mediterranean and baltic avenues. the area and people are quite to our liking. the rest, traffic, jet noise, car stereos and beach concerts have taken some getting used to but most of the year it's quite pleasant. I'm on the civic league and support the police on precinct advisory, although have been absent for a while in that regard. beside the obvious traffic and neighborhood trash problems we currently have and even more, foresee, i think the amount of noise is going to make the area much more intolerable. I also believe we will see a drop in property values and higher crime. I have lived in 3 large cities with arenas and the area around the arena is the last place you want to live. those areas tend to degenerate and i have lived long enough to see the before and after. all in all i think this will not be a family friendly area. furthermore the project speakers were not very reassuring about much of anything and sounded like salesmen making a pitch. finally, i also spoke with a number of people in old beach and shadowlawn (businesses i patronize) and others for their opinions. I could not find one person happy or even mildly accepting about this arena. most all said the city will do whatever, they never listen to us anyway and the like. which is why only about 15 people showed up at the civic meeting. I did however hear a lot of negative complaints at the project meeting from many of the approximately 300 there. yours respectfully, kevin pyne and karin stamy it would be a great idea but they should have put the arena in a Area that no home are around like Near the Virginia Beach Sportsplex The massive arena is being put in the wrong location to make it convenient for tourist but a traffic nightmare for residents I can think of 51 reasons why the arena shouldn't be built, and only one reason to have it built. That one reason to have it built is to increase our never ending taxes! With this arena deal, the citizens of Virginia Beach are being dealt a bad hand. I have been a resident of Virginia Beach for 20 years. Overall the trend for the City has been pretty good in my opinion; although there seems to be some bias to many project sponsors that appears to be without regard to infrastructure and resident issues; biased to the City seeing more revenues. Been an experienced investment banker for almost 30 years that has funded numerous projects throughout the US and been involved in overseas projects. Further, have also been a bankruptcy turnaround specialist court appointed by federal judges to unwind failed projects. I say this as a qualifier of expertise behind the opinion. I am quite surprised how little is tasked to project promoters to mitigate burdens on infrastructure, much less certain objections by the tax payers. Notwithstanding very little disclosure on the concrete infrastructure issues (highway, roadway, parking, etc.), I still haven't been able to figure out the financial feasibility of this project and whether we will end up with a white elephant or potentially worse a foreign partner if their is a failure. The first red flag I see is why a US bank syndication is not interested in this project. This of course begs the question why a Asian financier is so anxious; usually interested in higher profile cities - we're not a Miami; maybe they think we could be an Atlantic City? It is unclear what the terms and conditions are to the financing of the deal, which I believe should be made fully public for comment for a period of not less than 60 days. Simple metrics seem to indicate that this facility will have to generate very significant cash-flow to meet a huge $200 million debt and candidly I do not see it. Areas that have 3 times the population, notwithstanding the transient nature here, have been unable to come to the same conclusions as these folks appear to have. In closing, I have seen little in details and specificity that area residents concerns can be dealt with without massive condemnation of property, overstretching of already stressed resources, or alternatively imposing on spreading the stress out around the City. We see how well that worked years ago for the July 4th festivity and trucking people in from Pendelton. Secondly, I think the public should see the Financial Feasibility Study given to the lender (and I hope the City Officials) to see what the true assumptions are from a economic stand point. I do not believe they are achievable and ponder, without bias, having a Chinese investor owning major asset in the City of Virginia Beach that controls a property with little accord to certain protections if they are not anticipated upfront. I say this in pragmatic words. Over (40%) of my business dealings today are overseas; much in Asiatic countries. I understand this world. We need to be cautious and there needs to be full transparency in fainest to residents & taxpayers; none of which I have really seen. Respectfully, K. L. Malmgren Two primary reasons, first the traffic will be horrendous. Second, we should not use Chinese made steel in any construction project nor should we accept financing from any Communist country. The Beach in my opinion will never attract big league teams to make a home here using the arena. However it will add to the traffic congestions. I'm also against moving the memorial. The "Beach" is losing its attraction for people who just want to get away from big cities. A summer tourist town is not going to keep Virginia Beach up and running in the future. We must invest in our future now in order to maintain the great city that we are. Use private investment is the way to go!

Debra Hutton inside Kempsville

December 2, 2015, 1:21 PM

John Gossner inside Bayside

December 2, 2015, 10:52 AM

Philip Bernhardt inside Princess Anne

December 2, 2015, 9:18 AM

K. L. Malmgren inside Beach

December 2, 2015, 9:13 AM

Robert Freitag inside Bayside

December 2, 2015, 8:49 AM

Dianna Howard inside Princess Anne

December 2, 2015, 7:58 AM

Arnold Bowie inside Rose Hall

December 1, 2015, 10:45 PM

kevin pyne inside Beach

December 1, 2015, 9:09 PM

Joseph Belec inside Beach

December 1, 2015, 3:22 PM

Gary Krebs inside Bayside

December 1, 2015, 3:17 PM

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