Monday, December 5, 2005
A revised cost estimate is expected to be delivered to the Council soon.
(Washington, DC) Chief Financial Officer Natwar M. Gandhi stated today the costs for the construction of a new baseball stadium in Southeast Washington are still being formulated.
When we presented our last formal estimate in August, we estimated the costs would remain at $535 million, the cap set by Council on the amount the District would borrow. said Gandhi. We are now analyzing that number to take into account a number of cost increases, including the price of materials and labor in the aftermath of several natural disasters in the U.S.
Gandhi says he expects to deliver a revised cost estimate to the Council soon.