Ballpark Private Financing Proposals Are Due Jan. 17

WASHINGTON, DC-District officials expect plans for the development of a $440-million stadium to house the Washington Expos, the District’s new baseball team, to take a big step forward on Jan. 17 when the Office of the Chief Financial Officer’s acceptance of proposals for private financing of the stadium closes. “Working closely with the OCFO and the council, we will try to find workable measures to infuse private financing into the ballpark project,” says Mayor Anthony A. Williams.

The city is hoping that private financing–as allowed through the city council’s recently passed Private or Alternative Stadium Financing Emergency Act of 2004–will provide at least half of the money needed to construct the stadium, which will occupy a parcel along the Anacostia waterfront. However, if the OCFO finds no suitable proposals, the stadium legislation will allow the city to finance the project entirely through the sale of bonds.