Wolff: No Interest In "Coliseum City" Concept NRG Stadium Needs Upgrades For '17 Super Bowl Live Nation, Legends Ink Amphitheater Deal Dolphins To Sell Standing-Room Only Tickets Training Home Of Mariners, Padres Gets Upgrades Facility Notes Carson Officials Shrug Off Inglewood Deal Saints, Pelicans Getting Building Upgrades Heat Could Face Steeper Rent For Adjacent Lot Seattle Mayor Ready To Fast-Track Arena
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WASHINGTON LOOKING AT FINANCING OPTIONS FOR NEW ARENA
Published June 30, 1995
DC officials are "discreetly" seeking a better deal to finance the city's share of the costs for the proposed downtown sports arena, according to the WASHINGTON BUSINESS JOURNAL. One "eye-catching" offer is from Morgan Stanley, which financed Baltimore's Camden Yards. NationsBank and Crestar Bank have offered to loan the city about $53M to cover site preparation costs, with the loan being repaid by a new city tax on businesses. But Michelle Bernard, Chair of the DC Redevelopment Land Agency, which controls the city-owned site, said last week the NationsBank/Crestar financing proposal was "preposterous" and "not economically sound" for the District (Thomas Hall, WASHINGTON BUSINESS JOURNAL, 6/30 issue). In this morning's WASHINGTON POST, Michael Fletcher reports that "residents and business owners of Chinatown" -- where the new arena will be located -- want Caps/Bullets Owner Abe Pollin to "address more of the community's concerns" (WASHINGTON POST, 6/30).