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12/11/2012 04:21 PM

Washington Prepares For Obama's Inauguration

By: NY1 News

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Preparations are already underway in Washington for President Barack Obama's second inauguration.

Members of the media, including NY1's Washington bureau, took a tour of the platform where the swearing in will take place in January.

When complete, it will seat 1,600 people, including the first family, members of Congress, the Supreme Court and the Joint Chiefs.

Obama will be officially sworn in at a private ceremony on Jan. 20, with the public ceremony taking place the following day.

The total cost for the ceremony is expected to come in at $1.2 million, which is less than the last inaugural ceremony.

The White House announced Obama will accept corporate donations to pay for the festivities, including the parade and inaugural balls.

Obama did not accept corporate funds for his 2009 swearing in.