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Council approves casino-related leases; city manager cautions revenue timing
Summary
Norfolk City Council approved a lease with Boyd Gaming for parking/laydown parcels tied to the casino project and approved a five-year Nauticus lease for Waterside dining; the city manager said full casino revenues are not expected for several years.
The Norfolk City Council approved multiple lease actions related to waterfront operations and the casino project, and city staff clarified how and when casino revenues are likely to appear in the city's budget.
The council adopted an ordinance approving a lease by and between the city of Norfolk and Boyd Gaming Corporation for certain parcels on Reeves Avenue to be used for vehicle parking and lay down of materials in connection with construction of the casino project at 200 Park Avenue. The ordinance was adopted by roll call (Clanton: Aye; Doyle: Aye; Johnson: Aye; McGee: Aye; Page: Aye; Smigiel: Aye; Thomas: Aye; Alexander: Aye).
Separately, the council approved an ordinance authorizing a lease and food services agreement with Nauticus Foundation and Trolley House Refreshments Inc. for space at 1 Waterside Drive. During the meeting staff identified the proposed term as five years and the council adopted the ordinance (roll call recorded as unanimous in attendance).
Barrett Hicks, president of the Concerned Citizens Association, said he supported the Boyd Gaming lease but asked that revenues from a future casino be spent “wisely and more so towards our schools.”
City Manager Pat Roberts (referred to in the meeting as “Mr. Roberts”) clarified the schedule for casino revenues, saying the temporary facility will generate some revenue in the current fiscal year but that “the full revenues from that facility will not come online until, I believe it's fiscal 28.” He also warned that rising construction costs on projects such as Maury could consume a portion of early casino proceeds. Roberts added that council — not staff — must appropriate any revenue for specific capital or operational projects.
Councilmember Page also advised caution about revenue expectations, telling residents he had been told projected casino funds are “less than were first thought.”
All lease ordinances and approvals were adopted during the meeting; terms and specific rental amounts were not detailed in the meeting record.
