photo by Rukasu1
From the office of DC Council Chairman Phil Mendelson:
“DC Council Chairman Phil Mendelson announced today that the Committee of the Whole will hold a vote on the “Robert F. Kennedy Campus Redevelopment Act of 2025.”
“Today we’re scheduling a vote for Friday August 1, 2025 to consider the RFK campus legislation,” Mendelson said. “We’ve been working with the Washington Commanders for several weeks and we feel we have a much-improved agreement that would bring the team back to their historical home, as well as develop the land around the RFK campus.”
“It’s clear that the Commanders showed through their negotiations their commitment to the District. And their willingness to consider what’s in the best interest of our citizens. The process working with the Commanders has been extremely productive and they’ve been a cooperative partner.
“Overwhelmingly, residents have asked the Council for due diligence on this multi-billion-dollar deal. And under immense outside pressure to rush the process, I feel that, along with next weeks’ hearings, the Council will have what’s needed to move forward with a vote.”
The Committee of the Whole and the Committee on Business & Economic Development will hold a public hearing on the legislation on July 29 and a hearing with government and team officials on July 30.
HOW THE DEAL HAS BEEN IMPROVED
Revisions vis a vis the Commanders
Revenues from the site: the term sheet provided that all revenues, including tax revenues, generated at the stadium go to the Commanders or to a stadium-reinvestment fund. The Commanders have agreed that the following revenues instead will go to the District:
· $260M parking revenues from non-stadium-event days (team estimates ~$170M higher)
· $112M parking taxes (18% rate) will go to the city
· $ 54M Sales taxes on merchandise (10.25%) will go to the city
· $248M Sales taxes on food and beverages (10%) will go to the city
= $674 million total (over 30 years)
Community Benefits Fund: While the term sheet required a Community Benefits Agreement, no amount was specified.
· $50 million Community Benefits Agreement, including a commitment linking youth sports with education.
Team Offices:
· Senior leadership and sales office will locate in the District.
Development Milestones: The Council’s legislation will specify deadlines for completion of the development of different phases (e.g., affordable housing, retail) – with the acceleration of out-year rent payments as a penalty.
Other Changes Beneficial to the District
· The Council has restructured the debt financing by not capitalizing interest in Fiscal Years 2028 & 2029. This will save District taxpayers approximately $55 million.
· The Council’s legislation redirects $600 million from the “Sports Facility Fee” (formerly Ballpark Fee) to a Transportation Improvement Fund for Metro improvements.
Other Benefits to the District
· The Council’s economic impact analysis concludes that the stadium project will accelerate mixed-use development at the RFK campus by 11 years.
· The project will create approximately 6,000 housing units, 1,800 being affordable.
· Tax revenue over 30 years ~$26.6 billion from redevelopment of the entire RFK campus.
· Excitement over Washington’s football team coming home.
· City-wide, this deal sends a message to companies that DC is open for business.
$674 million + $50 million + $55 million = $779 million Improvement”