Bill > B26-0146

This bill provides comprehensive legislative approval and authorization for the redevelopment and continued operation of the downtown arena (currently known as the Verizon Center) in Washington, D.C. Specifically, the bill approves three key agreements between the District of Columbia and DC Arena L.P.: a Development and Financing Agreement, an Amended and Restated Lease, and a Purchase and Sale Agreement for the arena property. The legislation grants the Mayor authority to enter into these agreements, despite typical procurement and real estate restrictions, and allows for granting easements and airspace leases related to the arena property. The bill continues existing property tax abatements for the arena, exempts certain property transfers and deed recordings from taxation, and modifies signage regulations to provide more flexibility for outdoor signs and digital displays. Additionally, the bill ensures that certain employment and apprenticeship provisions will apply to the arena development, such as first source employment requirements. The legislation is an emergency act that will remain in effect for up to 90 days, allowing for immediate implementation of the arena redevelopment plans while providing congressional review and oversight.

https://lims.dccouncil.gov/Legislation/B26-0146