A $2 billion public-private partnership to move two major league sports teams to a new arena in Northern Virginia has been canceled. D.C. Mayor Muriel Bowser and team owner Ted Leonsis announced a $515 million renovation plan for the current Capital One Arena, securing a 25-year lease for the Washington Wizards and Capitals. The plan, which is $15 million above the city's previous offer, requires D.C. City Council approval. Virginia State Senator L. Louise Lucas opposed the original deal, favoring toll road relief over the arena. The project faced local resistance and skepticism about its financial viability. Moody's Investors Service views the decision to keep the teams in D.C. positively, citing potential benefits to tax revenue.

A proposed arena project in Alexandria, Virginia, for the NHL's Washington Capitals and the NBA's Washington Wizards, is to be financed through $1.05 billion in project revenue bonds by the Virginia Stadium Authority and other sources. The $2 billion public-private partnership includes contributions from Monumental Sports & Entertainment and the City of Alexandria. Local opposition is concerned about traffic and parking, while the project also faces competition from Washington D.C.'s offer to renovate the existing Capital One Arena. The project aims to diversify local revenue and leverage a new Metro station, with community engagement meetings planned.

Cybercrime poses a significant threat to the multifamily housing industry, with remote tours, touchless leasing, and online rent payments creating new vulnerabilities. Industry professionals like Luke Chalmers of Decron Properties and Abbie Huffman of Rookwood Properties discuss the implementation of multi-factor authentication, phishing defenses, and robust cybersecurity measures. The National Multifamily Housing Council (NMHC) provides a security checklist and emphasizes the importance of vetting IT partners. Data protection regulations are evolving, with states like California enacting GDPR-inspired statutes. The multifamily industry faces challenges in safeguarding resident data across different jurisdictions and preventing ransomware attacks. Cybersecurity training for employees and cyberinsurance are also highlighted as key components of a comprehensive defense strategy.

Municipal budgets in the U.S. are showing resilience with surpluses and strong rainy day funds, despite concerns over a potential federal government shutdown and the depletion of ARPA pandemic relief funds. The National League of Cities reported increases in income and sales tax receipts for 2022, with large cities like Detroit and Philadelphia experiencing significant revenue growth. However, property tax revenue has seen a real-term decline due to inflation. The National Association of Counties discussed the political debate over property tax revenue in rapidly growing areas, such as Beaverhead County, Montana. Local governments have been using ARPA funds for various projects, with a focus on avoiding operating costs and supporting one-time programs.

Congressional gridlock has halted progress on municipal-related legislation due to the House's inability to elect a new Speaker. Key agency reauthorizations and appropriations are pending, with the Farm Bill being considered as a vehicle for advancing the Modernizing Agricultural and Manufacturing Bonds Act (MAMBA). MAMBA aims to update IRS rules for debt financing for manufacturers and farmers, including increasing bond limits and expanding the definition of 'manufacturing.' The Federal Aviation Administration's reauthorization is also due, with infrastructure funding for airports at stake. The Defense Bill is another critical piece of legislation that may include last-minute additions. The Low Income Housing Tax Credit (LIHTC) rules are under scrutiny, with proposals to lower the required percentage of funding from tax-exempt private activity bonds. The Bond Dealers of America and the Government Finance Officers Association continue to advocate for the revival of advance refunding, which was eliminated in 2017.

With interest rates high and an inverted yield curve, bond issuers are exploring arbitrage, which has reemerged as a viable strategy after years of being off the table due to low interest rates. Arbitrage involves investing bond proceeds at a rate higher than the bond yield, but it comes with complex regulations and potential IRS rebates. Tax attorneys and finance officers are navigating these complexities, including IRS Rule 149, which has been a point of contention and is currently under review for clarification by the U.S. Department of the Treasury.

The D.C. Council Chairman Phil Mendelson proposed the Ballpark Budget and Maintenance Amendment Act of 2023 to create a Ballpark Maintenance Fund for Nationals Park, redirecting excess revenue from the Ballpark Revenue Fund. This move aims to prioritize stadium maintenance and debt payment without affecting the general fund. The proposal comes as Virginia seeks to attract D.C.'s professional hockey and basketball teams with a new sports complex, while D.C. offers public financing to refurbish the Capital One arena. Fitch Ratings has given the ballpark bonds a stable outlook, and the remaining stadium debt is scheduled to be paid off by 2036.

Alan and Linda Dallas Reider, a couple from Chevy Chase, Maryland, undertook a kitchen renovation project with the help of Bruce Wentworth, president of Wentworth Studio. They faced a decision on which natural stone to use for their countertops, initially considering marble but ultimately choosing Macaubas quartzite for its durability and aesthetic appeal. Wentworth reconfigured the kitchen space to better connect with the family room and incorporated a functional island. Sam Kim from M S International highlighted quartzite's popularity in modern design due to its clean look and simple veining. The article discusses the benefits of quartzite, such as its hardness and resistance to etching from acidic substances, making it a practical choice for the Reiders' kitchen and potentially beneficial for the home's resale value.

Youngstown, Ohio, once known for high crime rates, is experiencing a revival with new permanent residents moving downtown. This change is largely due to a partnership between Pan Brothers Associates and local developer Dominic J. Marchionda, with support from the architectural firm Balog, Steines, Hendricks & Manchester. The transformation began with the zoning of an entertainment district, an increase in liquor licenses, and the opening of the Covelli Center arena. The Realty Tower project, completed in 2009 by Lou Frangos, added luxury apartments to the area and was later sold to Marchionda's firm. The downtown revival was also aided by expansions to the Youngstown Business Incubator and the renovation of Powers Auditorium. The collapse of the housing market opened up opportunities for urban projects near universities.