Washington D.C. revises stadium financing plan

WASHINGTON (AP) -- Trying to win quick approval for a new baseball stadium in the nation's capital, city officials on Tuesday altered legislation behind the project to add more money for the local community.

"It means that we've listened well," said City Administrator Robert C. Bobb.

The revisions came after last week's grueling 14-hour public hearing, which included testimony from community, business and labor leaders as well as residents. Many questioned the original financing plan and the benefits the city would get for its investment.

Major League Baseball agreed in September to move the Montreal Expos to the District of Columbia in time for the 2005 season. Plans call for the new stadium to be ready in 2008.

Economic advisers to Mayor Anthony A. Williams revised the plan to include more money for temporary renovations to RFK Stadium _ where the team would play until the new stadium is built _ additional funds for a new 41,000-seat stadium about a mile from the U.S. Capitol and the promise of more funds for libraries, recreation centers and schools.

A new community benefit package establishes a tax increment financing zone in the area surrounding the ballpark site. Besides providing more money for projects in the immediate vicinity, the plan is expected to generate funds that can be spent on other projects proposed by the mayor and council.

Projects could also include new training programs, which have drawn the support of church and labor leaders in the city, according to Chris Bender a spokesman for the D.C. Office of Economic Development.

"These are projects that will make a real difference in the community," said Bender.

The new plan also raises the annual revenue base for companies subject to gross receipt taxes to $4 million from the previously proposed $3 million level. The city's largest private companies will also be expected to contribute about $26 million per year to finance up to $550 million in revenue bonds issued for ballpark-related expenses.

The D.C. Council is expected to vote on the bill next month.