One of the last dominos needed to kick off a $145 million renovation of downtown Hartford’s XL Center is expected to fall Aug. 8, as the state Bond Commission takes up a request to borrow $118 million to fund the project. With this added to $27 million previously approved by the bond commission, the Capital Region Development Authority expects to have enough to complete a large program of repairs and renovations at the roughly 50-year-old, 16,000-seat arena in downtown Hartford. The commission will be asked to sign off on more than $1 billion in bonds on Aug. 8, including funding for transportation projects, environmental cleanups, housing development and various other initiatives. The CRDA, which manages the arena, has negotiated an agreement that would have venue operator Oak View Group pay $20 million toward the renovation. In return, OVG gets a 20-year contract to manage the facility and will keep the first $4 million in annual profits.
https://www.hartfordbusiness.com/article/bond-commission-to-take-up-118m-funding-request-for-xl-center-renovation-and-more