Exempting from the property tax property that is owned by The Hagerstown Multi-Use Sports and Events Facility, Inc., and used primarily for public social, recreational, and entertainment purposes; and authorizing the Hagerstown Multi-Use Sports and Events Facility, Inc. to pay to the governing body of Washington County or the City of Hagerstown an amount, if any, that may be set by mutual agreement in lieu of the taxes that would otherwise be due on all or part of the facility.