"DC Council Approves $515 Million Modernization Deal for Capital One Arena"
The D.C. Council unanimously approved a $515 million investment to modernize Capital One Arena and develop the surrounding area, aiming to transform the neighborhood into an entertainment district. The agreement with Monumental Sports & Entertainment includes public funds for alley improvements and exemptions from certain taxes, raising concerns about the city's return on investment. The plan also involves creating a drug-free zone around the arena and dedicating police officers for event safety. The council faced protests on unrelated issues during the legislative meeting, and the investment is expected to revitalize downtown and benefit the city as a whole.
- D.C. Council votes to spend $515 million to modernize Capital One Arena The Washington Post
- Monumental agreed to stay in Capital One Arena. Now come negotiations with the DC Council NBC Washington
- Collapse of NBA, NHL arena deal prompts recriminations, allegations of impropriety in Virginia The Associated Press
- Scoop: Capital One Arena deal terms include tax abatement, expedited permits Axios
- DC Mayor discusses $515 million deal that keeps Wizards, Capitals at Capital One Arena WJLA
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