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Price tag for Va. Beach arena jumps $46 million

"Details of the proposal in a draft of a report to be presented to the City Council today show that financing costs would bring the city's total to just under $241 million. Last week, Mayor Will Sessoms estimated the cost at $195 million but noted that did not include borrowing costs. With the interest, the estimated cost of the arena is nearly $346 million; an additional $80 million is needed to relocate an unnamed professional sports team, for a total of about $426 million."

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