Reply to NFL Commanders building $3bn new stadium in Ward 7 on the old RFK site

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Reply to "NFL Commanders building $3bn new stadium in Ward 7 on the old RFK site"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]They're talking about a billion dollars. That's something like $1,400 for every person, including children, in DC. That amount of money could do so much more. They will argue it will promote economic development. Sure, any huge investment will, but spending that money on housing and schools and parks and stores will result in WAY more economic development than a football stadium that's used 8 days a year.  [/quote]

Please read up on the difference between operational and capital spending.[/quote]

Money is money. [/quote]

Not when you are talking about capital budgets versus operational funds.[/quote]

DP. The capital budget is generally funded by bonds. The operating budget is used to pay for debt service on the bonds unless they’re special tax bonds in which case they have a dedicated revenue stream associated with them. Even for special tax bonds, DC could choose to obligate that revenue stream to something else.

Short version:
General obligation bonds are paid for using general tax revenue, leaving less tax revenue available for operating expenses.

Special tax bonds are tied to a specific revenue stream but the council decides how the proceeds of the bond auction may be spent.

Even shorter version:
Money is money. 
[/quote]

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