How to finance the new Nationals baseball stadium
is the story of the day:
· DC Chief Financial Officer Natwar Gandhi released his Alternative Financing Plans for Baseball Stadium Final Report
(or you can read "District Skeptical On Financing Deals
, 3/16/05]). The CFO has certified two of the eight proposals for private financing for the stadium--the plans by Deutsche Bank
and The Gates Group
. (See also a Dec. 18 Post
story detailing the Gates Group proposal
.) Gandhi and the mayor's office will work together to meet a 15-day deadline to determine which of the three plans (the two newly certified private plans plus the original public financing plan) offers the least expensive way to finance the stadium. (The Herbert S. Miller plan to create a "baseball village", which had received much publicity, was not approved.)
· And, according to the Washington Times
, "by the end of this week Gandhi also is expected to issue a report re-evaluating the projected costs for land acquisition, environmental remediation and infrastructure development for the new stadium. If the estimated cost, previously pegged by Mr. Gandhi at $115 million, exceeds $165 million, D.C. officials must search for a less expensive site. " So, that will be fun.
· Finally, The WashTimes
also says that a recommendation for the new stadium's architect
should arrive later this week, with a formal ratification by the DC Sports and Entertainment Commission early next week.