The framework of a plan to demolish RFK stadium in Washington, D.C. and replace it with a new stadium surrounded by mixed-use development is becoming more real.
"In the coming days, we will share more on our growth agenda by highlighting our next budget to grow D.C. and outlining a plan to realize abundant opportunities at our RFK as we forge ahead with shaping D.C.'s future economy," said Mayor Muriel Bowser in a press statement last week.
Broad strokes of the framework are leaking into the media including financial parameters defining a $3.2 billion public private partnership supported by an estimated $800 million investment from taxpayer dollars.
Building a new stadium hinges on accommodating the NFL's Washington Commanders making a move from their current stadium in Landover Maryland. According to still-emerging details the Commanders would kick in about $2.5 billion.
The possibility of a new professional sports stadium project in Washington D.C. comes on the heels of a simmering budget disagreement with Congress who is not in session until next week.
Cost cutting measures in Congress spilled over into the local government as lawmakers are requiring the city to adhere to it's a 2024 budget as opposed to its 2025 budget resulting in a $1.1 billion shortage.
Congress maintains financial oversight of Washington's finances. The Senate and President Trump have both
Using public money to finance sports stadiums typically leads to controversy rooted in subsidizing teams owned by billionaires playing in facilities that aren't universally approved.
Tax-exempt municipal bonds in general are currently feared to be under attack from a Congress looking for ways to pay for tax cuts.
Eliminating the tax exemption for stadium financing in particular also attracts support on a regular basis including President Trump who broached the idea via a statement by his press secretary in February.
"As far as we know, the only tax-exempt bond comment the President has made was about professional sports stadia," said Chuck Samuels, a member at Mintz and counsel to the National Association of Health & Educational Facilities Finance Authorities.
"If there's one industry that I'm not worried about, it would be the NFL. I don't think we have to spend a whole lot of time lobbying with them, and they have no interest in lobbying with us."
Washington has a well-documented
Last November the City Council signed off on a $515 million renovation of Capital One Arena home to the city's professional basketball and hockey teams.
Nationals Park, home to Major League Baseball's Washington Nationals was finished in 2008 and partially financed with $535 million of munis.
Despite the successful history, opposition to any deal using public money is already coalescing in groups who would rather see money being invested in affordable housing.
The mayor has countered by saying the 174-acre site would use the stadium as an anchor tenant in a development that would include housing, hospitality and retail.
D.C. Council Chairman Phil Mendelson also remains skeptical about using public dollars to finance the stadium project.
