Deadline Passes for Stadium Financing Proposals

March 31, 2005 - 7:12am

WASHINGTON - The District of Columbia Chief Financial Officer's office has stopped accepting private stadium financing proposals.

WTOP Radio has learned the CFO's office has received 8 proposals from groups interested in paying for the stadium which will be built on the Anacostia waterfront.

A spokesman for Chief Financial Officer Natwar M. Gandhi says the office is compiling a letter which will be sent to Mayor Tony Williams and Council Chair Linda Cropp, summarizing the proposals that have been received. He declined to go into specifics about the proposals.

Each proposal had to be accompanied by a non-refundable $10,000 fee. The CFO has hired outside consultants to help sift through the paper work.

The proposals, as well as the groups submitting them, will be reviewed to see if they can be certified by the CFO. If any of the plans make it over those hurdles, they will then be sent to the mayor for his consideration and then the mayor will present his top picks to the city council. The CFO will have the reviews completed by March 15.

Last month, the D.C. Council passed a measure requiring the city to try and find private financing for a new stadium to house the Washington Nationals. But the measure also allows the District to go back to publicly financed bonds, if private financing falls through.

WASHINGTON - The District of Columbia Chief Financial Officer's office has stopped accepting private stadium financing proposals.

WTOP Radio has learned the CFO's office has received 8 proposals from groups interested in paying for the stadium which will be built on the Anacostia waterfront.

Each proposal had to be accompanied by a non-refundable $10,000 fee. The CFO has hired outside consultants to help sift through the paper work.

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