Friday, August 05, 2005

Let's hope this deal is better than the MLB one

Considering how Williams gave away the farm to get baseball here, I worry about how much Deutsche Bank will walk away from the table. But what does Williams care, he does not seem to have any long term plans to stay in the City anyhow.

"D.C. Mayor Anthony A. Williams (D) has approved the city entering a private financing deal with Deutsche Bank for a new baseball stadium, officials said yesterday.Under tentative terms the city would accept a $246 million payment from the bank in exchange for revenue from stadium concession taxes and an annual rent payment from the Washington Nationals.The payment would help cut taxes on city businesses from $14 million a year to about $8 million a year to help finance construction bonds. The deal could take several weeks to finalize, city officials said."WP

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