Council Chairman Phil Mendelson announces the scheduling of a public oversight roundtable of the Committee of Whole on “The Costs and Benefits of Bill 20-805, District of Columbia Soccer Stadium Development Act of 2014.” The roundtable will be held Wednesday, November 5, 2014 at 12:00 p.m. in the Council Chamber of the John A. Wilson Building, 1350 Pennsylvania Avenue, NW. This notice has been revised to reflect a new date and time, and the addition of a witness.
The purpose of this roundtable is to receive testimony from the Council’s consultants (Conventions, Sports and Leisure International (CSL); Integra Realty Resources (IRR); and The Robert Bobb Group (RBG)), and the Office of the Chief Financial Officer (OCFO), on the financial terms of Bill 20-805, the “District of Columbia Soccer Stadium Development Act of 2014.” CSL, IRR, and RBG will present the results of a cost-benefit analysis of the proposed real estate transactions, an assessment of the risks associated with those transactions, and a stadium public cost and subsidy comparison. Transaction documents reviewed for the analyses may be viewed online at http://dccouncil.us/pages/soccer-stadium-development-documents. The OCFO will present the results of the required fiscal impact and tax abatement analyses. City Administrator Allen Lew will also testify and answer questions on behalf of the Executive. The roundtable will be exclusively for the testimony of CSL, IRR, RBG, the OCFO, and the City Administrator, and public testimony will not be taken.
While this roundtable will include oral testimony only from CSL, IRR, RBG, the OCFO, and the City Administrator, written statements from the public will be made a part of the official record. Copies of written statements should be submitted to the Committee of the Whole, Council of the District of Columbia, Suite 410 of the John A. Wilson Building, 1350 Pennsylvania Avenue, N.W., Washington, D.C. 20004. The record will close at 5:00 p.m. on Monday, November 17, 2014.
