Norfolk will quickly start development on its $2.6 billion undertaking to higher defend the town from coastal flooding brought on by nor’easters, hurricanes, and different vital climate occasions. The federal authorities will bankroll the majority of the undertaking, with state and metropolis funds accounting for 35%, or an estimated $910 million.
Virginia Gov. Glenn Youngkin (R) is prepared to supply further state funds to Norfolk for the development of its coastal safety undertaking. Nevertheless, the cash will solely come after the town opens its HeadWaters Resort & On line casino. (Picture: AP)
In introducing his price range this week, Virginia Gov. Glenn Youngkin (R) shocked Norfolk officers by together with an extra $21 million in state funds allotted for the town’s Coastal Storm Threat Administration Undertaking. The $21 million is along with almost $74 million that Youngkin’s administration already put aside for the infrastructure enterprise.
A situation of the added cash, nonetheless, is that Norfolk will solely obtain the funds after the town’s on line casino lastly opens. Norfolk voters in the course of the November 2020 election signed off on a greater than $500 million industrial on line casino resort pitched by the Pamunkey Indian Tribe in partnership with billionaire Jon Yarbrough.
The vacation spot will probably be known as HeadWaters Resort & On line casino and will probably be constructed alongside the Elizabeth River adjoining to the town’s Harbor Park Minor League Baseball stadium.
The tribe and Yarbrough this week unveiled a brand new blueprint for the on line casino resort that strikes the event a bit inland from the river. Jay Smith, a spokesperson for the undertaking, informed On line casino.org that the change is due to the seawall undertaking.
Norfolk On line casino Ideas
The Norfolk Coastal Storm Threat Administration Undertaking is a collaboration between the town and the US Military Corps of Engineers. The multiyear undertaking consists of growing and implementing storm mitigation via structural limitations like levees, residing shorelines, pump stations, and seawalls.
The Infrastructure Funding and Jobs Act signed by President Joe Biden in November 2021 kickstarted the undertaking with $400 million in federal funds.
Youngkin is prepared to dedicate extra state funds to assist Norfolk cowl its undertaking share, however he first desires to see HeadWaters open. The undertaking has been repeatedly delayed due to design setbacks.
The tribe initially proposed opening a brief on line casino inside Harbor Park in the course of the development of the resort on the stadium’s roughly 13-acre car parking zone.
Authorized issues, nonetheless, had been raised as a result of the Virginia statute that allowed Norfolk to ponder a industrial on line casino mandates {that a} short-term on line casino solely function “on the identical web site referenced within the referendum.” Throughout their 2020 referendum, Norfolk voters authorised a on line casino “on property east of Harbor Park Stadium.”
The undertaking then pitched a phased growth, however metropolis officers fired again at that timeline on calls for that they need the complete resort constructed concurrently with the on line casino.
Smith stated due to the seawall undertaking, HeadWaters needed to once more amend its blueprint. The undertaking can be constructed from the north to the south, with the on line casino first opening because the lodge and resort facilities are finalized.
On line casino First, Cash Second
Youngkin didn’t point out the Norfolk seawall in his price range deal with, however specifics of the $21 million in surplus cash for the undertaking had been detailed within the 669-page spending plan.
Youngkin stated along with the $73.85 million set to be allotted to Norfolk’s Coastal Storm Threat Administration Undertaking subsequent 12 months, the town can obtain further funds.
The Secretary of Finance is allowed to supply an extra $21,000,000 of state help to the Metropolis via a treasury mortgage to additional contribute to the non-federal match, contingent upon the Metropolis making use of revenues generated by a on line casino gaming institution,” the price range reads.
A Youngkin spokesperson informed WAVY the on line casino situation is “to maximise the financial growth related to the Commonwealth’s continued funding of taxpayer assets within the undertaking.”
