Va. Beach arena would tap China financing

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Local,Virginia

VIRGINIA BEACH, Va. (AP) — A proposed 18,000-seat arena in Virginia Beach would tap private financing from China to build it.

The Virginian-Pilot (http://bit.ly/1oJp0If ) says the companies proposing to build the Oceanfront arena explained their financing on Monday for the $200 million project. The arena would be used for concerts, trade shows and other events.

A news release from the principals in the project say the arena would be one of the few in the nation that does not rely on public financing to pay for its construction.

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