The "Dulles site", or Diamond Lake site as it was named by the Virginia Baseball Club (VBC), was the final location presented to MLB during the derby to aquire the Montreal Expos. The site was ambitous and difficult to sell, as it's main center piece was a rock quarry, a considerable distance from any urban core. To get around this, the stadium and ajoining lake would be part of a larger development project. The plan... if the ballpark isn't in the city, bring the city to the ballpark.
The Northern Virginia effort is now over. The Virginia Baseball Stadium Authority (VBSA) is currently still in existance. The possibility that development in another location in Virginia (Norfolk is still a possibility), keeps the effort alive.
Principal players were:
- The Virginia Baseball Stadium Authority (Keith Frederick - Chairman, Michael Frey - Vice Chairman, Gabe Paul, Jr.. - Executive Director, Brian Hannigan -
Communications Director, Nancy K. Eberhardt, Jerry McAndrews, Dr. Robert L. Wright)
- William Collins, Chairman and CEO of the Virginia Baseball Club
- Diamond Lake Associates,Developers: Beazer, Centex and Van Metre Cos
Proposed Interim Facility: RFK Stadium (seating for approx. 51,000)
Upgrade cost: Approx. $15 million
Permanent MLB site location under consideration:
"Diamond Lake" development: Mixed use site, north of the Dulles Toll Road and south of Route 606 along Route 28 in Loudoun Co. Recently, the total land figure for this development was listed at 440-acres, with the stadium a portion of the total. That number has been downgraded by 220-acres due to acquisition issues.
Render of Dulles proposal :: Click to enlarge image
Projected Cost Estimates:
Financing Proposal Breakdown:
Private Investment: Since the site is part of a larger mixed-use development by Diamond Lake Associates (est. $5 billion), there is a large private component reducing the cost by $82 million from the original projection of $442 million.
Other tax resources: The VBSA has funding available as part of the state wide effort to bring MLB to Virginia. These funds would be collected by the earmarking of player personal income taxes. The estimated value is $120 million. These funds are available until Dec. 31st of 2004 and must be released by the Virginia General Assembly. Norfolk and the Northern Virginia group are competing for these dollars.
"But For" taxes, displayed by the VBSA:
- Sales & Use Tax--State sales & use tax of 4.0% and the local option of 1% on transactions taking place at the ballpark facility. This includes sales tax on concessions and novelties and at retail facilities located in the ballpark development.
- Personal Income Tax--Personal income tax revenue will be estimated by the State Tax Commissioner based on salaries, wages, and other income generated through employment or the conduct of a trade or business at or within the facility. This includes team players, coaches, office personnel, individuals employed by the operator of an enterprise within the facility. Rebates for players’ salaries will be at 3.9% of payroll and 3.5% for all others
- Construction Period Sales and Income Taxes--State law allows for the sales and income taxes associated with the development and constructions of a ballpark facility to be rebated to the Virginia Baseball Stadium Authority. VBSA will use these tax rebates to reduce the amount of public debt to be issued for the ballpark.
Complete finance plan proposed by the VBSA and the VBC for Diamond Lake/Dulles location