ALEXANDRIA, Va. (DC News Now) — The debate over whether to build a new entertainment district in Potomac Yard, including a new arena for the Washington Capitals and Wizards, continued on Tuesday night.

Alexandria City Councilmembers received a presentation from Alexandria Economic Development Partnership CEO Stephania Landrum and the city’s Director of Finance Kendel Taylor. The presentation, which was shared online following the Tuesday night meeting, contained an update on the proposal and a look at the revenue projections.

In the presentation, Taylor detailed $33.7 million in net new revenue, $8.4 million after estimated costs for traffic calming, trash/park clean up, public safety, and capital improvements.

The presentation also highlights the difference between revenue the city projects with the arena, and what it projects based on present-day development.

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“Nobody’s suggesting there isn’t value in having a Target and a Best Buy and Total Wine, and such,” said Councilmember Sarah Bagley. “But is that the limited value best for our community all the way out to 2037? That’s really what I think we are wrestling with here and trying to evaluate.”

Councilmembers also pressed for answers regarding whether the revenue projections offered are optimistic. Staff answered that by saying the city’s priorities include maintaining its bond rating and not spending existing tax dollars on the project.

While there has been optimism from many city councilmembers, who attended the initial press conference with Monumental Sports & Entertainment CEO Ted Leonsis and Virginia Gov. Glenn Youngkin, there is a new show of concern from one.

Vice Mayor Amy Jackson released a statement following her campaign survey on the proposal (she is one of two elected officials running for mayor, the other being Councilmember Alyia Gaskins).

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“There are several red flags that cause me a lot of concern,” Jackson wrote. “If there is no funding for Metro, especially to improve the Potomac Yard/VT Station, and no plan to reduce traffic congestion when the programming of this project will certainly increase it; there is no way Alexandria can support this Monumental proposal as it stands.”

Jackson went on to highlight the desire for good-paying union jobs and called the affordable housing component “weak.”

Councilmembers shared a vision of more community engagement sessions, detailing a desire to target outreach toward youth and seniors, and various neighborhood groups.

Before the arena proposal makes its way to the city, it first has to pass in Richmond. Virginia’s General Assembly is scheduled to wrap up on March 9. Currently, the arena is part of the House’s budget, but not the Senate’s budget.

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