The GreenCity development proposal includes a 17,000-seat arena that would be financed through a community development authority, or CDA.
With the CDA, taxes generated onsite by the development would be used to make the payments to retire the bonds. As a result, GreenCity would pose no financial risk to Henrico County. CDAs have been used successfully to support the developments of Short Pump Town Center, Reynolds Crossing and White Oak Village. More information:
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