D.C. COUNCIL LEARNS CITY'S OBLIGATION TOWARD ARENA PROJECT
D.C. council members met with city officials to discuss the
city's financial obligation toward the proposed $180M arena
Bullets/Capitals owner Abe Pollin wants to build in downtown
Washington. After initial reports put the city's portion of the
cost at $12.5M, the Council was told yesterday that up to $65M
could be needed. The increase is due to the fact that DC "did
not take into account" all of the expenses they agreed to cover.
According to Robert Pohlman, the city's interim chief executive
financial officer, the majority of the DC funding, $25M, will go
towards the purchase of the arena site and surrounding land for
development. About $19M will go towards relocating city workers
that presently work in offices that will be demolished (Jeanne
Dewey, WASHINGTON TIMES, 1/26).