Alexander said at the public hearing that the project would likely be valued at just $200 million, while fostering 1,000 jobs. Changes were also made to the revenue funding formula.<\/p>\n
Another plus tonight is that this potential revenue falls under the new revenue funding formula we created for Norfolk Public Schools, so it would not be necessary to have a separate agreement on where the tax revenue should go,\u201d said Smigiel in his Facebook post.<\/p><\/blockquote>\n
The agreement reached between the tribe and the city in September must be altered to reflect a lower tax rate than the four percent promised with the $700 million price tag.<\/p>\n
Still Work To Be Done<\/h2>\n
Casino gaming remains prohibited in Virginia, but there is some momentum for legislation proposed sponsored by Sen. Louise Lucas, D-Portsmouth, to change that. If her bill is approved, it would give voters in the cities of Bristol, Danville, Portsmouth, Norfolk, and Richmond \u2013 the areas where Virginia gaming properties would be located \u2013 an opportunity to approve or reject those plans on the 2020 ballot.<\/p>\n
Hard Rock International is set to be the operator<\/a> of a planned $250 million gaming venue in Portsmouth.<\/p>\nAs for Norfolk, the city council will be holding another public hearing on the casino issue on Thursday, Dec. 19.<\/p>\n","protected":false},"excerpt":{"rendered":"
At a public hearing earlier this week, Norfolk, Va. Mayor Kenny Alexander (D) announced significant alterations to the city’s effort to become home to a casino. That included plans to require the Pamunkey Indian Tribe to open a commercial, not a tribal, gaming property. In September, the tribe agreed to pay almost $10 million to […]<\/p>\n","protected":false},"author":46,"featured_media":122537,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,18456],"tags":[],"acf":[],"yoast_head":"\n
Norfolk Tells Pamunkey Casino Must be Commercial, not Tribal<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n