"Your letter recognizes that, among its contributions to MSE over the years, the District publicly financed extensive improvements to the Arena in 2007, just 10 years after the Arena opened. In July 2007, the District enacted legislation that gave DC Arena LP (DCALP) $50 million to renovate the Arena. Those funds were raised through municipal bonds. The Council expressly conditioned that public financing on DCALP's commitment to extend the original ground lease for an additional 20 years, thereby ensuring the District and its taxpayers that the Wizards and the Capitals would continue to play their home games at the Arena through 2047. The July 2007 legislation did not authorize DCALP to extinguish or revoke the lease extensions upon prepayment of the outstanding bond debt at some unknown time in the future. Nor did any DCALP representative or District official suggest such a possibility during the legislative process."
