Number Of Private Offers In DC Falls Short Of Expectations

DC officials have received eight private financing offers for the Nationals’ new ballpark near the Anacostia River, a number “far below what was expected when the city issued a request for proposals last month,” according to Eric Fisher of the WASHINGTON TIMES. DC officials had received over 30 unsolicited proposals for private financing before the formal search began December 23, but DC required a nonrefundable $10,000 fee to participate in the official process. Bidders include BW Realty Advisors and the Cleveland-based Gates Group, which “proposed to use revenue from a curbside parking program to defray the cost” of the ballpark. DC has set a goal of funding at least 50% of ballpark costs with private money (WASHINGTON TIMES, 1/19).

CAP IT OFF: Capitals Owner Ted Leonsis said opposition to the ballpark funding plan “was poorly timed: right or wrong, [MLB] had made its requirements clear and the District had agreed to those conditions in pursuing a team. I would point out that the MCI Center was privately financed, although the District invested in improvements to enable its construction and operation. In the end, every such endeavor is a combination of public and private action and the key is to find the mix that produces the greatest benefit for the cost. But I will say: ‘real men build their own arenas with their own money’” (EXECUTIVEBIZ, 1/13 issue).