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Article: City leaders sued over bond denial.(Local)
- Article from:
- The Virginian-Pilot (Norfolk, VA)
- Article date:
- December 19, 2008
CopyrightCOPYRIGHT 2008 The Virginian Pilot-Ledger Star. All rights reserved. Reproduced with the permission of the Dialog Corporation by Gale Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Meghan Hoyer
The Virginian-Pilot
PORTSMOUTH
Two companies created by Louise Lucas to build a conference center project filed a $97.7 million lawsuit this week against the city, several City Council members and owners of the Renaissance Portsmouth Hotel and Waterfront Conference Center , claiming Portsmouth denied the state senator access to millions in lower-cost financing in an attempt to hold on to a monopoly.
The federal lawsuit argues that in July, the council barred Lucas from access to taxable and non taxable bonds for the project because it is led and funded mostly by African Americans . It also states that the city is ...