Committee OKs Richmond stadium bill

Legislation designed to get a new baseball stadium or a renovated stadium in Richmond has cleared its first legislative hurdle.

House Bill 1803, proposed by Del. G. Manoli Loupassi, R-Richmond, at the city's request, would designate 2.5 percent of the sales-tax collections derived from the stadium -- and the development it spawns -- toward paying the bonds used to finance the construction.

The House Finance Committee voted 19-2 yesterday for the bill.

Initially, the bill was aimed at a new stadium to be built in Shockoe Bottom. At the request of Richmond Mayor Dwight C. Jones, the measure deletes a reference to a new stadium. Instead, it refers to a sports facility that is designed for use primarily as a baseball stadium for a minor-league baseball team.

The measure would apply to the state's sales-tax collections between July 1, 2009, and July 1, 2012.

Several other cities in Virginia have used similar financing for convention centers or hotel projects. -- Tyler Whitley