WASHINGTON (AP) - Members of the District of Columbia Council approved a measure Tuesday to strengthen the city's financing plan for a new baseball stadium for the Washington Nationals.
The 10-2 vote approved changes sought by Wall Street bond traders, enabling the city to pursue a $535 million bond sale at investment grade, saving the city millions in debt service costs.
Some members who passionately opposed the measure during negotiations with Major League Baseball last year said they would support the measure to preserve the city's credibility.
``I'd like to redo the whole thing,'' Councilwoman Carol Schwartz said.
Schwartz joined the majority in backing the technical amendments. But she said she has talked with several of the prospective owners of the Nationals about possible ways to reduce the city's costs.
Representatives of Major League Baseball are expected to be in the city Thursday for meetings with prospective ownership groups. The price for the team, which is now owned by the other 29 major league clubs, is expected to be about $450 million.
Critics on the council have repeatedly said that the Nationals' new owners should make a contribution to the costs of a proposed new stadium on the Anacostia River, south of the U.S. Capitol.
Mayor Anthony A. Williams has been a major supporter of development of that site, contending it will generate millions of dollars in new tax revenues. He hailed Tuesday's vote as critical to moving the project forward.
The stadium is a centerpiece of William's' efforts to transform ``a wasteland of warehouses and deserted streets to a bustling, exciting corner of the city,'' he said in a statement released by his office. ``I promise our new stadium will be a gem - perfect for fans and perfect for the team,'' Williams said.
Councilman Vincent Orange sought support from his council colleagues for a proposal that would delay negotiations for a ballpark lease until after baseball selects a new owner for the Nationals. That measure was not brought up for a vote Tuesday.
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