Washington, DC's financial control board is reportedly upset
with Mayor Marion Barry over a $47M plan to rent office space
from a friend, saying "it is full of hidden costs and apparently
violates city procurement laws." The leases are key since to the
plan for a new downtown arena since the city needs to move about
720 office workers from two buildings on the arena site (Philip
Pan, WASHINGTON POST, 8/20). The WASHINGTON BUSINESS JOURNAL
reports that two DC street closings, required to construct the
downtown arena, "could pose major problems to completing the
project." The issue goes before the National Capital Planning
Commission (WASHINGTON BUSINESS JOURNAL, 8/24).
REDSKINS LAND: The POST examines the $72M in public funds
necessary for Jack Kent Cooke's new Redskins Stadium in Prince
George's County, MD. The money primarily will be used for
infrastructure improvements. The consensus of economists
surveyed by the POST: "If Cooke's assumptions bear out, and many
of them are rational assumptions, the project would be a net
financial gain for the public (Leonhardt & Gillis, WASHINGTON
POST, 8/20).
