DC Ball Park Approval Comes With $611M Cap

WASHINGTON, DC-Having worked well after midnight, the Washington, DC Council voted early this morning to approve the baseball stadium lease settled upon about a week ago by Mayor Anthony A. Williams and Major League Baseball. The council’s approval, however, came with the stipulation that the development cost of the 41,000-seat stadium for the Washington Nationals not exceed $611 million. The council had signed off on a budget of $535 million for the project in 2004, but recent estimated costs have skyrocketed to $667 million . The lease is designed to prevent taxpayer money from being used for its development. The agreement calls for funds to come from outside sources, including $5.5 million annually in rent from the Nationals, $369 million from ticket and concession sales, $215 million from ballpark fees and $215 million from federal utility tax payments.

The total funding will exceed the actual cost to construct the baseball park. “The decision made here tonight keeps the Nationals in the District and, in time, will generate $100 million a year in new revenue for the District that we can use on critical programs,” Williams says.