In this section, “arena” means: an athletic facility; an auditorium; a banquet hall; a catering hall; a concert facility; a theater; or a stadium. There is an arena license. The Board may issue the license only to: the person, firm, or corporation that owns or leases the arena; or a concessionaire designated by the person, firm, or corporation that owns or leases the arena. At least one of the individuals who apply for and are issued the license on behalf of the person that owns or leases the arena is required to be a resident of the State. A concessionaire to whom a license is issued need not be a resident of the State. Subject to paragraph (2) of this subsection, the license holder is authorized to sell beer, wine, and liquor by the drink and by the bottle within the arena, from one or more outlets, for on–premises consumption. The license may not be issued in the Second or Third Ward after October 1, 1994. A license issued before October 1, 1994, is valid and may be treated like any other license. The Board may grant an off–sale privilege to the holder of a license issued for a premises in the 3300 block of Annapolis Road, subject to the following conditions: beer, wine, or liquor may be sold for off–premises consumption only from a location in the licensed premises not exceeding 2,000 square feet; beer, wine, or liquor purchased from the location may not be consumed anywhere on the licensed premises; the hours of sale are from 8 a.m. to 10 p.m. Monday through Sunday; and the annual fee for the privilege is $858. The arena shall have: a minimum capital investment, not including any real property, of $1,000,000; and a minimum capacity of 1,000 people, as determined by the City Fire Department. The annual license fee is $21,780. In addition to the annual license fee, a license holder shall pay annually: $500, if the license holder provides live entertainment; and $200, if the license holder provides outdoor table or cafe service. The Board shall adopt regulations concerning the manner of dispensing alcoholic beverages, the number of outlets authorized to dispense alcoholic beverages, and the hours and days of sale.