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Notes: Potomac Yard arena prospects looking bleak as state budget approaches the finish line

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Rendering of aerial view of Monumental Arena development (image courtesy of JBG SMITH)

Senate Finance and Appropriations Chairwoman L. Louise Lucas (D-Portsmouth) told the Washington Post that the Potomac Yard arena won’t be in the budget compromise that negotiators will release on Thursday.

The Potomac Yard arena development plans involve the creation of a Virginia Stadium Authority to finance the construction of the $2 billion Potomac Yard arena and entertainment district. Creation of that authority, though, is contingent on it being included in the state budget.

While there could still be a reversal before the General Assembly adjourns on Saturday, the Washington Post said the only other options would be to make a budget amendment or a stand-alone bill on the arena. While other legislators said they weren’t prepared to call the arena deal dead, it’s looking bleak for the project.

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