(Washington, DC) After 33 years, it came down to the stroke of a pen. Today, Mayor Anthony A. Williams signed the Ballpark Omnibus Financing and Revenue Act of 2004, creating jobs and contracting opportunities for District residents and businesses, bringing economic development to the Anacostia Waterfront - and returning baseball to the nation's capital.
"Baseball is a powerful economic engine," Mayor Williams said. "It will bring in about $450 million in resources for city health clinics, recreation centers and police cars - that's money we don't have now and money we wouldn't have without baseball."
As part of the legislative process for returning Major League Baseball to the District, the Council on December 21 passed the "Private or Alternative Stadium Financing Emergency Act of 2004." Under that Act, the Office of the Chief Financial Officer will seek and review submissions for proposed "alternate or private" financing to lessen the new stadium's burden on the business community. Financing plans are due by January 17, 2005.
The Washington Nationals will begin play at Robert F. Kennedy Memorial Stadium in the spring of 2005. RFK is currently undergoing redesign and upgrade work, including field renovations, changes in the seating bowl, and improvements to the press box and media facilities. Several local, small, disadvantaged businesses (LSDBE) including Devrouax & Purnell, Delon Hampton & Associates, Capital City Associates and Tompkins Builders are involved in the RFK work.
Already, the Nationals have reported that nearly 15,000 season tickets have been reserved for the 2005 season.
The Nationals are expected to move into the Anacostia Waterfront ballpark for opening day 2008. The preferred site for the ballpark on the Anacostia has both Metro and highway accessibility, and will merge well with the area's current and/or planned development:
- The Anacostia Waterfront Initiative: construction of more than 3 million square feet of new office space, more than 4,500 units of new housing, 32 acres of new public parkland, and a 20-mile Riverwalk along both sides of the river. These new uses are expected to generate up to $1.5 billion in new tax revenues over the next 20 years, in addition to more than $4 billion in private investment;
- Nearly 6,000 units of affordable housing in Ward 7 and 8;
- The Southwest Waterfront.
The Financing Plan - Hands Off The General Fund
According to the financing plan, DC's ballpark will be funded by four sources:
- An annual lease paid by the team owners;
- Taxes on ballpark activities including tickets, parking, concessions and merchandise;
- Maintaining the existing utilities tax of 11 percent on non-residential customers;
- A special ballpark fee that will be paid only by DC's largest businesses-those with gross receipts over $5 million a year.
- Bill Summary*
