DC Council moves quickly with proposal to revitalize Capital One Arena

WASHINGTON — Three weeks after Mayor Muriel Bowser announced her proposal to use $515 million in D.C. tax dollars to revitalize Capital One Arena, the D.C. Council held a hearing to get the public's take on the multi-million dollar investment to keep the Wizards and Caps in the District.

D.C. would buy the stadium for $87.5 million and lease it back to Monumental Sports and Entertainment through 2050 with the option of five four-year renewals after that. 

The majority of witnesses who spoke at Thursday's meeting said they are on board with the plan including construction groups and members of the downtown community. Liz DeBarros, the CEO of the D.C. Building Industry Association, said this would greatly benefit increase the foot traffic in the Gallery Place-Chinatown corridor. 

"This project will play a pivotal role in driving economic revitalization, supporting local businesses and employment, and establishing a modern, vibrant center for residents and visitors alike," she testified.  

However, some D.C. neighbors are still not convinced by the proposal. 

"We can't afford $500 million for a millionaire," said Debby Hanrahan, as she voiced concerns about other needs in the city like assistance for the homeless community. 

Councilmember At-Large Robert White said he understands how they feel. 

"I know there are mixed feelings," White said. "Some people question why taxpayer funding should support a sports organization, and I respect that." 

White, however, asked District residents to consider the economic impact of the project.  

Monumental Sports and Entertainment is investing an additional $285 million of their own money into the project.

D.C.'s Deputy Mayor of Planning and Economic Development Nina Albert said the investment is necessary in such a competitive market for the sports teams. She also said the plan will bring in $1 billion in economic activity to the city. 

Councilmember Kenyan McDuffie said he simply wants the revitalization to be worth it for D.C. residents, particularly for District-based companies and workers. 

"My support is contingent upon District residents benefiting from such an outstanding outlay of taxpayer dollars," McDuffie said.

Others echoed McDuffie's testifying that the want the estimated 4,000 construction jobs that the project will bring, to go to D.C. companies that hire District residents.

Monica Dixon, with Monumental Sports and Entertainment, said the company has already committed to using District contractors. 

"We've committed to at least 40% of the work involved includes CBEs with the goal of reaching 50%," Dixon said.

But how can the District assure that D.C. workers get the jobs? 

"It's very difficult for the District to guarantee it," Albert admitted. "What we can do is that the outreach is done so that the people who are looking for a job related to this project know that the job is available."

Chairman Mendelson said this proposal could go up for a vote as soon as soon as Nov. 26 or Dec. 3. If the proposal is approved, the proposed construction would start in the summer of 2025.