Virginia Law

Code of Virginia

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Code of Virginia
Title 15.2. Counties, Cities and Towns
Chapter 59.3. Hampton Roads Regional Arena Authority
3/28/2023

§ 15.2-5941. Powers.

In addition to all other powers it possesses, the Authority may:

1. Determine the location of, develop, establish, construct, erect, acquire, own, repair, remodel, add to, extend, improve, equip, operate, regulate, and maintain a Facility and Facility Site to the extent necessary to accomplish the purposes of this chapter, including contracting for materials, products, and services related to such Facility or Facility Site;

2. Enter into development agreements related to the Facility or Facility Site, including leases, subleases, and any other forms of private financing;

3. Develop a model for participating localities to share costs and revenues of a Facility and Facility Site;

4. Operate, enter into contracts for the operation of, and regulate the use and operation of a Facility and Facility Site developed under the provisions of this chapter;

5. Fix and revise from time to time and charge and collect rates, rents, fees, ticket surcharges, or other charges for the use of a Facility or Facility Site or for services rendered in connection with a Facility or Facility Site;

6. Dedicate any funds that accrue to the Authority pursuant to the provisions of this chapter for the construction, development, financing, operation, or maintenance of the Facility and Facility Site;

7. Issue bonds and similar financial instruments under this chapter;

8. Finance the construction of a Facility using loans, notes, private equity financing, or any other method of financing the Authority deems appropriate; and

9. Do all things necessary or convenient to carry out the powers granted by this chapter.

2020, cc. 538, 539.

The chapters of the acts of assembly referenced in the historical citation at the end of this section may not constitute a comprehensive list of such chapters and may exclude chapters whose provisions have expired.