The District government significantly underestimated the price of a state-of-the-art stadium for the Washington Nationals and as a result has been forced to shift $55 million set aside for infrastructure improvements to cover escalating costs.
[…]
The D.C. Sports and Entertainment Commission, which is overseeing the construction, determined that the cost of the distinctive ballpark designed by its architects has risen from $244 million to $337 million. That set off a scramble by top city officials who have since reduced the cost to $300 million but still are seeking money to complete the project.
I said it before, and I’ll say it again: this is a stupid use of taxpayer money. Stadiums are proven financial losers for the localities who foot the bill. In the case of the Nationals’ stadium, this problem is only going to get worse.
The irony is that they are using eminent domain to secure the land for this efficient use of taxpayers’ money. Taking taxpayers’ land to develop something that is going to cost taxpayers more money … Nice.
Nice new theme, BTW.
Has any stadium, ever once in the history of stadiums (stadia?) going back to the arenas of ancient Rome, ever actually been built for the originally stated cost? No. This has never, ever, ever happened. Why don’t they just take the figure handed to them and double it in the first place?
Isn’t the new UVa John Paul Jones Arena still on budget and on time? I found the following link from 2002 stating a planned cost of 128 million, and I don’t think that has changed (yet).
http://www.fm.virginia.edu/fpc/ArenaProject/Updates/UpdateMay02.htm
Stadiums are a taxpayer subsidy for rich people. Always have been. Los Angeles doesn’t have an NFL sports franchise for that reason. The city and region refuses to subsidize any new stadiums (or the refurbishment of old ones) with taxpayer money. Additionally there was always plenty of private money available for the efforts.
Maybe FEMA could chip in and designate it an emergency shelter *chuckle* .