Reply to Will DC subsidize a new Redskins stadium?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]We’ll probably pay for improvements to the area, roads, etc., even if the team pays the whole cost of the stadium construction. There’s really no reason for the public to pay for any of it. But since the city paid 100 percent of the costs for the Nationals and for all of the infrastructure for D.C. United, it’s hard to imagine Snyder wouldn’t insist on at least some handouts. Unfortunately. [/quote]

the city did not pay %100 of the costs. We issued the bonds, I think it was around $400mil, and the lerners/nats paid it back early.   In this particular case, the nats stadium was a good investment and catalyst.  they have events over 100 days a year. Can't say the same for a football stadium and Snyder is the worst in the entire NFL.[/quote]

Nope completely wrong.

DC paid the entire cost of Nats Park.

BTW the deal was made with MLB and not the Lerners as they didn't even own the team yet.

Now the Nats are paying rent for the stadium over the 30 year terms of the lease - I think it started at $5 million a year and eventually goes up to $6 million a year and comes to about 175 million over 30 years.

And the rest of the stadium is being paid for by a utility tax on commercial buildings and taxes on purchases at the stadium.

The stadium itself ended up costing about 650 million - I haven't seen an updated estimate but when it was approved more than 15 years ago I believe the estimated cost of building the stadium with debt payments was going to be about 1 billion but perhaps it will net out to being less since bond rates have been pretty low for the last 12 years.

There was also another 50 million spent to build the second entrance to the Navy Yard Metro station which I believe DC paid for entire cost of.
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