DC Makes Nationals Park Debt Payment Without Nationals Rent
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DC Makes First Debt Service Payment On
Nationals Park Without Team's Rent Contribution |
DC officials have "successfully made [the city's] first debt service payment on Nationals Park, despite the lack of a rent check from the Nationals," according to Tim Lemke of the WASHINGTON TIMES. A spokesperson for DC CFO Natwar Gandhi said that the first debt payment of $13.9M, due last Friday, was "made without complication." The Nationals are withholding their inaugural $3.5M rent payment, which is a "key portion of the money used to pay back the $535[M] in bonds used to finance" the ballpark, because they "insist that the park did not meet the requirements to be considered 'substantially complete' at the start of the season." Sources said that the city and Nationals Owners the Lerners likely "will be headed to arbitration to resolve the issue" (WASHTIMES.com, 8/4).
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