WASHINGTON, DC—The DC Council in its lastmeeting of the year approved legislation that spells out thefinancing for the $300-million DC Unitedsoccer stadium.

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The bill is expected to be signed by Mayor VincentGray sometime next week,

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"We are grateful that D.C. United's future in our nation'scapital is secure," D.C. United managing general partnerJason Levien said in a statement. "This is ahistoric victory for the team and its fans, the city, the regionand the sport of soccer in this country."

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Despite concerns about the $106 million in debt the Districtwill take on to pay for its $150 million share of the project,council members unanimously approved the bill, according to theWashington Business Journal.

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"We are making this investment and we all have to work togetherto make sure we can continue to meet the infrastructure needs ofour city," says Councilwoman Muriel Bowser, whowill be sworn in as mayor on Jan. 2.

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Under the stadium agreement, the district will finance landacquisition and site preparation to a soft cap of $150 million.D.C. United will finance the stadium construction. The goal is tohave the stadium finished in time for the 2017 season. See story inthe Washington Business Journal.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.