RICHMOND, Va. -- The clock is ticking for state lawmakers to address legislation on a $2 billion project for a sports arena in Alexandria to serve as the new home of the Washington Capitals and Wizards.
Underneath the Capitol bell tower Thursday, more than two dozen people rallied in opposition to a proposal by Gov. Glenn Youngkin to create a sports and music complex in Alexandria to serve as the new home for Washington's NBA and NHL franchises.
"We think it's really it's a bad deal for not just Virginia, but for the entire D.C. metro area," Andrew MacDonald, a founding member of the Coalition to Stop the Arena, said.
The group, which mostly consists of residents from Alexandria, said among their concerns are traffic congestion, how the deal would be financed,and revenue projections that are too rosy.
"This is too risky. These projects do not generate do not spur economic growth that's been shown across the country," MacDonald said. "And so why would you commit this amount of money to a billionaire who can easily afford to pay for his own arena."
Along with money from Monumental Sports and the City of Alexandria, the project would require the creation of a Sports Authority that will issue over a billion in bonds that would be repaid through revenues it creates.
A study also call for at least $135 million in state and local money to improve transportation infrastructure around the site.
"We are bounded by the river there," Judy Miller, who lives in Alexandria, said. "You're creating a problem where none exists if you bring the arena to Alexandria."
Youngkin and the group behind the team says the project will create 30,000 jobs and bring $12 billion in economic development.
"We know that our fans and the revenues they produce will be able to pay back the bond and more," Monumental Sports External Affairs President Monica Dixon said. "It brings needed revenues into the city of Alexandria and the Commonwealth."
But in order for any of this to get off the ground, the General Assembly needs to sign-off on this legislation.
Sen. Louise Lucas (D — Portsmouth), who chairs the Senate committee that is its first hurdle, said she is a no until she gets toll relief for her region of Hampton Roads.
"But I don't have anything on paper. And I don't trust conversation," Lucas said. "I've been in legislature too long for that. I need to have some documentation."
Richmond Del. Mike Jones said he had similar concerns about local benefits from. While he views the deal as a positive, Jones wants to see the details and whether the state portion of the project could be better used elsewhere.
"We still have to focus on, 'Are we funding education? Are we paying workers what they're owed? What things that we should be doing right now?'" Jones said. "That's not taking place."
One of the co-patron's of the Senate bill says they are working on a few minor tweaks to the language. They did not elaborate on what, but expected the bill to get its first hearing Friday.
Tuesday is Cross Over Day when legislation has to clear at least one chamber to be considered by the other.