District of Columbia: Final Status on the Sports Arena

摘要

The District has spent $60 million, about 98 percent of the estimated total cost211u001eof predevelopment activities, for the sports arena. As of April 30, 1998, the 211u001eDistrict estimated total predevelopment costs to be about $61.5 million, a net 211u001eincrease of about $2.9 million over its October 7, 1997, estimate, as reported in 211u001eour November 1997 report. The increase is largely due to the final agreed upon 211u001eprice the District paid for a parcel of land included in the arena site. The only 211u001eknown expense not under contract or agreement is the District cost for soil 211u001eremediation and the removal of concrete structures below the surface for a parcel 211u001eof land transferred to the Washington Metropolitan Area Transit Authority 211u001e(WMATA). The Districts project manager for the sports arena has budgeted $700,000 211u001efor this activity, which is included in the total estimated cost.