Chief Financial Officer Natwar M. Gandhi
Memorandum on proposed Ballpark Hard and Soft Costs Cap and Ballpark Lease Conditional Approval Emergency Act of 2006
February 7, 2006

Home

Bibliography

Calendar

Columns
Dorothy Brizill
Bonnie Cain
Jim Dougherty
Gary Imhoff
Phil Mendelson
Mark David Richards
Sandra Seegars

DCPSWatch

DCWatch Archives
Council Period 12
Council Period 13
Council Period 14
Election 1998
Election 2000
Election 2002

Elections
Election 2004
Election 2006

Government and People
ANC's
Anacostia Waterfront Corporation
Auditor
Boards and Com
BusRegRefCom
Campaign Finance
Chief Financial Officer
Chief Management Officer
City Council
Congress
Control Board
Corporation Counsel
Courts
DC2000
DC Agenda
Elections and Ethics
Fire Department
FOI Officers
Inspector General
Health
Housing and Community Dev.
Human Services
Legislation
Mayor's Office
Mental Health
Motor Vehicles
Neighborhood Action
National Capital Revitalization Corp.
Planning and Econ. Dev.
Planning, Office of
Police Department
Property Management
Public Advocate
Public Libraries
Public Schools
Public Service Commission
Public Works
Regional Mobility Panel
Sports and Entertainment Com.
Taxi Commission
Telephone Directory
University of DC
Water and Sewer Administration
Youth Rehabilitation Services
Zoning Commission

Issues in DC Politics

Budget issues
DC Flag
DC General, PBC
Gun issues
Health issues
Housing initiatives
Mayor’s mansion
Public Benefit Corporation
Regional Mobility
Reservation 13
Tax Rev Comm
Term limits repeal
Voting rights, statehood
Williams’s Fundraising Scandals

Links

Organizations
Appleseed Center
Cardozo Shaw Neigh.Assoc.
Committee of 100
Fed of Citizens Assocs
League of Women Voters
Parents United
Shaw Coalition

Photos

Search

What Is DCWatch?

themail archives

Natwar M. Gandhi
Chief Financial Officer

MEMORANDUM

TO:   The Honorable Linda W. Cropp
Chairman, Council of the District of Columbia
FROM: Natwar M. Gandhi
Chief Financial Officer
DATE:   FEB -7 2006
SUBJECT: Proposed "Ballpark Hard and Soft Costs Cap and Ballpark Lease Conditional Approval Emergency Act of 2006"

I write this memorandum to alert you to the impact that the above-referenced legislation would have on the District's ability to issue bonds and proceed with the ballpark project. Based on my review of the proposed emergency legislation, I will not be able to go to Wall Street until the lease has been revised and submitted to the Council. The impact of this proposed legislation is that no validly approved lease will exist until this condition of a revised lease agreement is satisfied. As I indicated in the fall of 2005, Wall Street will not give any credit to the lease until it is fully executed and validly approved under local law. The proposed legislation requires this revised lease to be submitted no later than March 7, 2006 or the lease will be disapproved.

As soon as the lease is revised and submitted in accordance with the legislation, I can proceed to issue the bonds. However, significant delay in raising the funds and beginning construction may increase the cost of building the stadium.

I am available if you have any questions or concerns. 

Distribution List

The Honorable Anthony A. Williams, Mayor of the District of Columbia 
The Honorable Carol Schwartz (At-Large)
The Honorable David Catania (At-Large)
The Honorable Phil Mendelson (At-Large)
The Honorable Kwame R Brown (At-Large)
The Honorable Jim Graham (Ward 1)
The Honorable Jack Evans (Ward 2)
The Honorable Kathleen Patterson (Ward 3)
The Honorable Adrian Fenty (Ward 4)
The Honorable Vincent Orange (Ward 5)
The Honorable Sharon Ambrose (Ward 6)
The Honorable Vincent G. Gray (Ward 7)
The Honorable Marion Barry (Ward 8)
Robert Bobb, Deputy Mayor and City Administrator 
Alfreda V. Davis, Chief of Staff to the Mayor
Arte Blitzstein, Budget Director, Council of the District of Columbia 
Rob Miller, Legislative Council, Office of the Chairman
Mark Tuohey, Chairman, D.C. Sports and Entertainment Commission