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October 26, 2017

XL Center slated for $40M; headed to sales block

A look inside the XL Center.

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. 

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