In November of 2018, I spent the Thanksgiving holiday reviewing the financial projections for the mayor’s Coliseum replacement plan.
They had said the plan would not only pay for itself, but would provide $1.2 billion above its costs that could be spent on things like schools, roads, and housing.
When I reviewed the numbers, I found a very different story.
That is why I set up NoColiseum.com and spent the next 15 months giving detailed analysis you could not find anywhere else. Not even from the elected officials whose job it is to do so.
I did it because I couldn’t let Richmond walk blindly into yet another one of these hare-brained schemes that would fail and leave tax-payers to pick up the bill.
The truth needed to be told.
Thankfully my work was able to convince members of city council what a bad deal it was.
While the mayor and the developers said this deal had no risk, we are seeing now with the economic fallout from the Coronavirus that there was a lot of risk.
Had the project been approved, we would be having to make $20 million yearly bond payments.
The project would have failed within a few months and the city would have been put on the brink of financial collapse. Taxes likely would have had to been raised to cover the cost.
If you read my analysis you will see how I will approach every issue in our city. With thoughtful analysis and relentlessly pouring over the details with a fine-tooth comb.
You can see it here: https://nocoliseum.com/