Stadium Price Tag May Go Up Nearly $100M

WASHINGTON - The price tag of the new stadium for the Washington Nationals could be going up nearly $100 million, according to a spokesperson for D.C. Mayor Tony Williams.

Sources close to the stadium project tell WTOP the city will need to incur additional debt in order to build the desired parking if developer Herb Miller's current plan isn't in place by mid-August.

Natwar M. Gandhi, the District's chief financial officer, has expressed concerns about the viability of Miller's plan to finance the parking. Miller's plan would need to have approval from the Nationals ownership group. Financing and insurance also would need to be in place before excavation on the garages begins next month.

Vince Morris, a spokesperson for Williams, confirms Gandhi briefed the Mayor on three options that would promote revenue opportunities, including parking around the stadium. The CFO's plan would enable the stadium construction to continue on time.

One option would cost $44 million, another $58 million. Both options would provide 1,225 parking spaces. A third option would cost $98 million and provide 1,875 parking spaces, bringing the total stadium price to more than $700 million.

At a recent stadium task force meeting, D.C. Council members were told they would need to amend the current stadium legislation to wave the cap on spending and approve the additional costs. If Miller's plan falls through, the additional costs could be covered by issuing more bonds.

The additional spending would not be submitted to the council for a vote until after after the September primary.

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