October 26, 2004
D.C. at the bat, cont'd
New developments in the Expos-to-D.C. controversy, with two days to go before Thursday's council hearing:
- Brian Saulsberry, a Tennessee investment banker who plans to submit a bid to buy the Expos, says he'd fund the stadium himself if granted exemption from D.C. property taxes. This would be an amazing deal for D.C. - a publicly owned stadium wouldn't pay property taxes either - but it does raise the question of how Saulsberry could build a stadium and still have enough left over to pay MLB's expected $320 million asking price for the team.
- Mayor Anthony Williams' stadium plan got raked over the coals at another public meeting yesterday, with residents of Southwest D.C. telling the exquisitely named city administrator Robert Bobb that they want no part of the project. "I've never seen anything like this in my life," said local resident Doris Barnes. "We need schools, jobs and homes. We don't need a baseball stadium."
- According to the Washington Post, D.C. councilmember Jim Graham is set to offer an amendment to the stadium bill increasing both the business tax and the ticket surcharge, and using the proceeds to fund libraries and neighborhood recreation centers. While an additional business-tax surcharge would have no real impact on the stadium deal per se, raising the ticket tax from 10% to 12% would marginally increase the team's private costs - according to my quick back-of-the-envelope estimates, maybe an additional $1 million a year.
- The Washington Times reports that "the Department of Health and Human Services also will hold a pro-D.C. baseball rally in Rockville today with Expos infielder Brendan Harris." Guess it's good to have friends in high places.
Posted by Neil deMause
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