Dem senator bought luxurious condominium from inexperienced vitality exec pushing wind farm in dwelling state

FIRST ON FOX: Democratic Sen. Tim Kaine of Virginia not too long ago bought a luxurious waterfront condominium from a senior govt at Dominion Vitality, a multibillion-dollar vitality firm creating an enormous offshore wind farm in his dwelling state.

In line with his 2022 monetary disclosures filed this month, Kaine reported buying a residential property value as much as $1 million in March 2022. A Fox Information Digital evaluate of native actual property filings confirmed that Kaine and his spouse Anne Holton paid $895,000 for a multi-unit condominium in Richmond, Virginia, from Dominion deputy normal counsel George Marget on March 8, 2022.

The condominium’s itemizing on Redfin, a web-based actual property agency, state that the residence is “one in every of a sort” and “one of many largest and most interesting condos” in Richmond. The condominium has two grasp suites, a “connoisseur kitchen,” eating room and comes with three parking areas.

Kaine’s disclosures additional indicated that the senator earned as much as $15,000 renting the residence again to the “earlier proprietor.” Nevertheless, a spokesperson for Kaine — who defended the acquisition, saying it was negotiated by realtors — mentioned the submitting ought to have said “earlier occupant” because it was rented to a tenant who had been residing within the condominium on the time of the acquisition.

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“Senator Kaine and Anne Holton purchased their condominium from the Margets in a transaction negotiated by realtors,” the spokesperson mentioned in a press release to Fox Information Digital. “The Margets didn’t reside on this condominium and as an alternative had a long-term tenant who rented the condominium from them. This tenant, who was not a Dominion worker, requested whether or not he may stay within the condominium for a time frame after the sale whereas he appeared for a brand new place.” 

“Senator Kaine and his spouse agreed to lease the condominium to the tenant for about two months for a similar rental quantity the tenant had beforehand paid the Margets,” the Kaine spokesperson continued. “Senator Kaine’s monetary disclosure type is being corrected to mirror that the condominium was rented to the ‘earlier occupant,’ not the ‘earlier proprietor.’”

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Senate filings confirmed that Kaine finally amended the disclosure type following Fox Information Digital’s inquiry.

Dominion, which relies in Richmond, is presently creating the Coastal Virginia Offshore Wind (CVOW) undertaking, the state’s first offshore wind farm. CVOW, which is situated off the state’s southeastern coast close to Virginia Seaside, presently consists of two operational pilot wind generators and is on observe to be totally constructed by 2026 with between 176 and 205 generators sprawled throughout 112,800 acres.

Kaine has been a vocal supporter of the undertaking, which might be the most important offshore wind improvement nationwide as soon as constructed, urging federal regulators to fast-track its allowing course of and efficiently successful tens of millions of {dollars} in funding for supporting initiatives.

“I am thrilled to see this undertaking underway because it’s an thrilling step towards a clear vitality financial system that creates good jobs within the commonwealth,” Kaine mentioned in a press release included in a July 2021 Dominion Vitality press launch. “I’ll preserve pushing for clear vitality investments in Virginia to spice up our financial system and construct a extra sustainable future.”

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The assertion got here after the Bureau of Ocean Vitality Administration superior the undertaking’s environmental evaluate course of. Kaine different Virginia lawmakers wrote a letter to the company months earlier, urging it to maneuver ahead with the evaluate. 

And Kaine helped safe $20 million in federal funds to enhance the Portsmouth Marine Terminal, permitting it to function a staging space supporting CVOW development and improvement.

Fox Information Digital reported earlier this month that Dominion’s political motion committee (PAC) has funneled $23,000 to Kaine’s marketing campaign since 2011, and one other $44,500 to Widespread Floor PAC, the management PAC affiliated with and chaired by Kaine, in that very same time span. Kaine introduced in January that he would run for re-election in 2024.

In a press release to Fox Information Digital, Dominion echoed Kaine’s spokesperson and defended Marget, equally saying that he bought his Richmond condominium by means of a standard, public course of and that the manager and Kaine have been stored at an “arm’s size.” 

“In early 2022, Mr. Marget initiated an open sale means of a residential property he owned in downtown Richmond, with a public itemizing, open home, and scheduled excursions,” Dominion Vitality spokesperson Ryan Frazier informed Fox Information Digital in an e-mail. “The sale was negotiated between real-estate brokers representing the client and vendor, with the client and vendor at arms’ size.” 

“Month-to-month funds from a renter not associated to Marget who was residing on the property continued by means of the top of a lease interval, which occurred after the transaction’s shut,” Frazier added. “Mr. Marget didn’t notify Dominion Vitality of this transaction, and was below no obligation to take action.”

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