"We forced Major League Baseball to come up with additional concessions, we leveraged millions of dollars in new developer money from the private sector and we made headway in talks with the White House about helping to pay for needed Metro upgrades in Southeast," Williams says. "Most importantly, we agreed to put into place a construction cost cap, which ensures that regardless of outside factors, the ballpark will be built for a set amount." For previous coverage, click here.

The new agreement allows for $891 million in stadium funding from outside sources. MLB has agreed to pay the District an aggregate $92 million in rent over the next 30 years. An additional $369 million will come from ticket and concession sales, $215 million will come from the ballpark fee and $215 million more will be derived from utility taxes assessed on the federal government.

The city council will now have the opportunity to review the agreement at its upcoming Feb. 7 meeting. With an agreement in place, the city will be able to proceed with the sale of $535 million in tax-exempt and taxable bonds for construction. If all goes as planned, a groundbreaking could take place this spring.