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BOND PACKAGE APPROVED FOR DC DOWNTOWN ARENA PROJECT
Published August 18, 1995
The DC Redevelopment Land Agency (RLA) yesterday approved a bond underwriting package to finance the downtown sports arena, according to the WASHINGTON TIMES. Merrill Lynch, PaineWebber, and Pryor, McClendon, Counts & Co. will underwrite the $53M in costs the District "must bear" to help Caps/Bullets Owner Abe Pollin build the arena. RLA officials are now waiting for a letter of commitment from Pollin outlining his plans for financing the remainder of the project (Lorraine Woellert, WASHINGTON TIMES, 8/18).