The legislation would have the district purchase the arena for $87.5 million then lease it back to the owners of the Washington Capitals and Wizards.

Council members approved a bill that would see D.C. offer up about $515 million to buy and renovate Capital One Arena, with the ownership group putting up the remaining cash to complete the $800 million project.

Monumental has revealed plans for more new luxury hospitality areas coming to Capital One Arena, which is set to begin an $800 million-plus renovation.

On Tuesday, the D.C. Council voted to advance legislation to purchase and renovate Capital One Arena. Ryan Kobayashi, who flew to Los Angeles looking for his daughter, Hannah, after she was reported missing,