Please do not leave this page until complete. This can take a few moments.
Hartford’s XL Center got mixed treatment in the bipartisan budget overwhelmingly passed by the state Senate early Thursday.
The state Senate approved $40 million in bonded funds to renovate the XL Center, as part of a larger bonding package, budget documents show.
But the $41 billion budget also requires the city of Hartford to essentially put the aging building up for sale, or at least see if there are interested bidders, budget documents show.
The goal would be to sell it to a private developer. A request for proposals must go out no later than June 30, 2019, budget documents show. Officials have said previously that it would be difficult to find a buyer for the more than four-decade-old arena, which has consistently lost money in recent years and faces intense competition for events from the two Connecticut casinos. The opening of the Springfield MGM Casino in 2018, will only add to the competition.
The one year, $40 million investment is far less than the two-year, $125 million Gov. Dannel P. Malloy previously called for, and the $115 million that existed in previous budget plans.
The $40 million, according to budget documents, can be used for renovations and capital improvements, including the acquisition of nearby real estate.
The Capital Region Development Authority, which oversees the XL Center, has recommend the state invest $250 million to completely renovate the arena.
The budget also eliminates the admissions tax exemption for events at the XL Center and Dunkin’ Donuts Park in Hartford along with Webster Bank Arena in Bridgeport and New Britain Stadium.
That will subject those venues to a 10 percent admissions tax.
The Hartford Business Journal 2025 Charity Event Guide is the annual resource publication highlighting the top charity events in 2025.
Learn moreHartford Business Journal provides the top coverage of news, trends, data, politics and personalities of the area’s business community. Get the news and information you need from the award-winning writers at HBJ. Don’t miss out - subscribe today.
SubscribeDelivering vital marketplace content and context to senior decision-makers throughout Connecticut ...
All Year Long!
The Hartford Business Journal 2025 Charity Event Guide is the annual resource publication highlighting the top charity events in 2025.
Hartford Business Journal provides the top coverage of news, trends, data, politics and personalities of the area’s business community. Get the news and information you need from the award-winning writers at HBJ. Don’t miss out - subscribe today.
Delivering vital marketplace content and context to senior decision-makers throughout Connecticut ...
All Year Long!
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
This website uses cookies to ensure you get the best experience on our website. Our privacy policy
To ensure the best experience on our website, articles cannot be read without allowing cookies. Please allow cookies to continue reading. Our privacy policy
0 Comments