Editor’s Note: The story has been updated with language that better reflects the process playing out in the Virginia General Assembly as it pertains to the proposed arena development in Alexandria.
RICHMOND, Va. (DC News Now) — A Virginia state senator said she’s ready to go to war over the funding of a proposed sports and entertainment arena in Alexandria.
Sunday, the Senate Finance and Appropriations Committee released its proposed budget plan for the upcoming fiscal year, which does not allow for the creation of a sports and etnertainment authority, which would oversee the proposed project, including its financing. The authority would have the power to issue bonds for the project.
The building of the arena would move the Washington Wizards and Washington Capitals from Capital One Arena to Potomac Yard. The project is proposed by team owner Ted Leonsis and Monumental Sports and Entertainment.
“The best place the Wizards and Capitals can be is right where they are in Washington, D.C.,” said Sen. Louise Lucas, who is the head of the finance committee.
Lucas has expressed concerns about the financing of the project and spending any potential taxpayer dollars on the plan. She believes it’s a bad deal for Virginia residents.
“They’re only looking to have land large enough to build a larger facility, but on whose expense? It’s not going to be on the commonwealth of Virginia’s back. Not on our dime,” said Lucas.
The senator has been in contact with D.C. Mayor Muriel Bowser, who offered Leonsis $500 million to revamp Capital One Arena, keeping the teams at its current Chinatown location.
“She’s trying to offer them everything she can to stay in D.C. and I’m not giving them a damn dime to come to Virginia,” she said.
The Senate’s funding proposal still is preliminary.
In the Virginia House, which, like the Senate, is controlled by Democrats, the story has been different when it comes to the arena proposal. Lawmakers passed legislation and a budget item that supports development of a sports and entertainment in Alexandria.
Both chambers of the General Assembly will work to negotiate a budget deal before the current legislative session ends in March.
Monumental Sports is staying optimistic.
In a statement, Monumental Opportunity said, in part:
We are extremely encouraged that the House of Delegates has now passed legislation and budget language on a bipartisan basis to help make this monumental opportunity a reality. This project will create 30,000 jobs, generate billions in economic impact, and deliver benefits for the entire Commonwealth. We look forward to continuing our conversations with legislative leaders as they work to craft a budget agreement.
Monumental Opportunity
