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An as-yet-unnamed NBA franchise is the target of Virginia Beach officials.
Virginia Beach is asking the state to commit to spending $150 million to help lure an NBA team to town
Warren Harris, the city's economic development director, wrote a letter Wednesday requesting the commitment from the Virginia Economic Development Partnership, according to the Associated Press.
Harris wrote that the state would need to contribute $70 million dollars toward the construction of a $300 million arena at the oceanfront. An additional $30 million would be needed to pay the unnamed franchise's league relocation fee.
In addition, another $42 million would be spent to offset the team's financial losses while it plays in a smaller, temporary arena while a new one is built The rest would be spent on moving expenses.
The city council would have to vote to approve the project.
NPR
Brooks: 'I'm An EGOT; I Don't Need Any More'
The screenwriter, producer, director and actor, whose name has become synonymous with American comedy, talks about his penchant for spoofs and his decades-long friendship with Carl Reiner. Brooks is the subject of a new American Masters documentary on PBS.NPR
Washington State Butcher Spikes Pig Feed With Weed
Despite its name, the "pot pig" experiment isn't an attempt to develop a new meaty treat for stoners. Instead, a Seattle butcher is feeding marijuana seeds, stems and root bulbs to swine as a cheeky money-saving measure.NPR
CEO Cook To Defend Apple Before Senate Committee Hearing
Apple is paying billions of dollars less than it should in U.S. taxes each year, according to a report by the Senate Permanent Subcommittee on Investigations. The report says Apple avoids billions in tax payments mainly by shifting profits to three subsidiary companies in Ireland.NPR
Tweets Capture 'Shock And Awe' At Tornado's Deadly Power
Twitter captures firsthand accounts and reaction from the massive tornado that swept through central Oklahoma.Leave a Comment
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