ENROLLED ORIGINAL
1
A RESOLUTION
25-748
IN THE COUNCIL OF THE DISTRICT OF COLUMBIA
December 3, 2024
To declare the existence of an emergency with respect to the need to approve the development
and financing agreement for the redevelopment of the downtown arena; to approve an agreement for the disposition by lease of certain real property owned by the District government for the use and operation of the downtown arena; to approve a purchase and
sale agreement for the downtown arena; to authorize the granting of certain easements related to the downtown arena property; to authorize airspace leases associated with the downtown arena; to continue and provide for property tax abatements and deed trans fer
and recordation tax exemptions for the downtown arena;
and to authorize the issuance of
rules to provide for additional signage on the downtown arena.
RESOLVED, BY THE COUNCIL OF THE DISTRICT OF COLUMBIA, That this
resolution may be cited as the “Downtown Arena Revitalization Emergency Declaration
Resolution of 2024” .
Sec. 2. (a) The Mayor and DC Arena L.P. (DCALP) are proposing to enter into
agreements whereby the District will acquire the existing Capital One Arena building, lease the
arena building and underlying land to DCALP, and provide funds to support the renovation of the
arena in order for it to remain a world-class sports and entertainment space.
(b) Under the agreements, DCALP will fully renovate the inside and outside of the arena
to improve the fan experience and will contribute $372.5 million to the renovation project. The
agreements will ensure that DCALP will keep the Wizards and Capitals in the District through at
least 2050.
(c) Together, the District and DCALP are committing approximately $800 million in
project investment to revitalize the a rena and surrounding environs. The renovated arena will
help revitalize the Chinatown/Gallery Place neighborhood, create quality new jobs for District
residents, and strengthen a commitment to community and fan engagement.
(d) In order for the District and DCALP to move forward with the project, the Council
must approve the agreements and enact conforming legislation .
(e) Emergency legislation is necessary to allow for the commencement of work on the
project on an expedited basis.
ENROLLED ORIGINAL
2
Sec. 3. The Council determines that the circumstances enumerated in section 2 constitute
emergency circumstances making it necessary that the that the Downtown Arena Revitalization
Emergency Act of 2024 be adopted after a single reading.
Sec. 4. This resolution shall take effect immediately.