Carson, Inglewood Stadium Reps Meet With NFL 49ers Address Turf Issues Ahead Of Super Bowl 50 DraftServ Coming To United Center During Playoffs Churchill Downs Bans Selfie Sticks Nats, Astros Submit Plans For Spring Training Home NFL's Grubman Wants Signs Of Progess In Oakland Churchill Downs Unveils Suite Upgrades PawSox Ask Taxpayers For Ballpark Funds Minneapolis Mayor: No To MLS Stadium Tax Breaks Sacramento Outlines Plan To Attain MLS Team
Upcoming Conferences and Events
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).