Economic Development Futures Journal

Friday, May 09, 2003

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How Much Would You Pay for the Montreal Expos to Come to Town?

The District of Columbia proposed a $338 million package Thursday in an effort to persuade baseball owners to move the Montreal Expos to the nation's capital. The plan includes $275 million for a new ballpark and $15 million to renovate RFK Stadium, where the team would play until a new stadium is ready.

Washington; Northern Virginia; and Portland, Ore.; are seeking the Expos, who were bought by the other 29 teams before the 2002 season. Baseball officials have said they would like to make a decision on the team's future by the All-Star break in mid-July.

Northern Virginia -- which would build a ballpark in Arlington, Fairfax or Loudoun counties outside Washington -- estimates that a 1997 state law allows it to issue $125 million in 30-year bonds to fund construction.

The Oregon Legislature is considering a $150 million stadium financing package, which was approved 33-25 Wednesday by the Oregon House. It would authorize the use of income tax revenue from players and team officials to help pay for construction bonds that represent the state's part of the estimated $350 million in construction costs.

Stay tuned.

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