How much will the Redskins move cost Richmond?

Posted at 2:14 PM, Oct 22, 2012
and last updated 2012-10-22 18:44:35-04

RICHMOND, Va. (WTVR) - The Washington Redskins will move the team's training camp to Richmond next summer. Monday, Richmond Mayor Dwight Jones announced the city would build the Redskins a training facility on land situated along Leigh Street behind the Science Museum of Virginia.

When the mayor first announced the Redskins move earlier this year, he said it would cost between $9 and $10 million to prepare a site for the team.

CBS 6 reporter Catie Beck spoke with a Richmond City Council member who has been briefed on the financials of the mayor's proposed deal.

She reported the total cost of renovating the Leigh Street site for the Redskins would run $10 million and would include two football fields, a field house, a training facility and a Bon Secours medicine building.

In order to pay for the project, the mayor would like to extend a $10 million line of credit to the Economic Development Agency (EDA).

Of the $10 million, Bon Secours will would pay $6.4 million to the city to lease the medical building over for the next eight to 10 years.

The city hopes corporate sponsors will help pay off  the remaining $3.6 million left on the tab.

The mayor's plan would need the approval of Richmond City Council. Click on the video for Catie Beck's full report.